Showing 351 - 360 of 443
Let A be a finite set of m <FONT FACE="Symbol">³</FONT> 3 alternatives, let N be a finite set of n <FONT FACE="Symbol">³</FONT> 3 players and let R<SUP>n</SUP> be a profile of linear preference orderings on A of the players. Throughout most of the paper the considered voting system is the majority rule. Let u<SUP>N</SUP> be a profile of utility functions for R<SUP>N</SUP>. Using...</sup></sup></sup></font></font>
Persistent link: https://www.econbiz.de/10005596305
We offer a case-study in irrationality, showing that even in a high stakes, deliberate context, highly intelligent professionals may adopt dominated practices. Multiple-choice tests (MCTs) enjoy many advantages that made them popular tools in educational and psychological measurement. But they...
Persistent link: https://www.econbiz.de/10005596306
A social choice rule is a collection of social choice correspondences, one for each agenda. An effectivity rule is a collection of effectivity functions, one for each agenda. We prove that every monotonic and superadditive effectivity rule is the effectivity rule of some social choice rule. A...
Persistent link: https://www.econbiz.de/10005596307
We present an example of a discounted stochastic game with a continuum of states, finitely many players and actions, and deterministic transitions, that possesses no measurable stationary equilibria, or even stationary approximate equilibria. The example is robust to perturbations of the...
Persistent link: https://www.econbiz.de/10010735439
Negative results on the the existence of Bayesian equilibria when state spaces have the cardinality of the continuum have been attained in recent years. This has led to the natural question: are there conditions that characterise when Bayesian games over continuum state spaces have measurable...
Persistent link: https://www.econbiz.de/10010735440
We present a discounted stochastic game with a continuum of states, finitely many players and actions, such that although all transitions are absolutely continuous w.r.t. a fixed measure, it possesses no stationary equilibria. This absolute continuity condition has been assumed in many...
Persistent link: https://www.econbiz.de/10010735441
In this paper, we demonstrate that payoffs linked to a committee member's individual vote may explain over-cautious behavior in committees. A committee of experts must decide whether to approve or reject a proposed innovation on behalf of society. In addition to a payoff linked to the...
Persistent link: https://www.econbiz.de/10010735442
Optimal Lobbying is the problem a lobbyist or a campaign manager faces in a full-information voting scenario of a multi-issue referendum when trying to influence the result. The Lobby is faced with a profile that specifies for each voter and each issue whether the voter approves or rejects the...
Persistent link: https://www.econbiz.de/10010681303
We show that the no betting characterisation of the existence of common priors over finite type spaces extends only partially to improper priors in the countably infinite state space context: the existence of a common prior implies the absence of a bounded agreeable bet, and the absence of a...
Persistent link: https://www.econbiz.de/10010684333
Consider the problem of maximizing the revenue from selling a number of goods to a single buyer. We show that, unlike the case of one good, when the buyer's values for the goods increase the seller's maximal revenue may well decrease. We also provide a characterization of revenue-maximizing...
Persistent link: https://www.econbiz.de/10010593232