Showing 41 - 50 of 31,355
Every agent reports his willingness to pay for one unit of a good. A mechanism allocates goods and cost shares to some agents. We characterize the group strategyproof (GSP) mechanisms under two alternative continuity conditions interpreted as tie-breaking rules. With the maximalist rule (MAX) an...
Persistent link: https://www.econbiz.de/10010719493
Quantum mechanics has been applied to game theory for years. A recent work [H. Wu, Quantum mechanism helps agents combat ``bad'' social choice rules. \emph{International Journal of Quantum Information}, 2010 (accepted). Also see http://arxiv.org/pdf/1002.4294v3] has generalized quantum mechanics...
Persistent link: https://www.econbiz.de/10008462327
A jury has to decide the winner of a competition among a group of contestants. All members of the jury know who the deserving winner is, but this contestant is unknown to the planner. The social optimum is that the jury select the deserving winner. Each individual juror may be biased in favor...
Persistent link: https://www.econbiz.de/10011276114
Often preferences are such that any sensible goal must admit a tie between all alternatives. The standard formulation in mechanism design stipulates that in this case all alternatives must be equilibrium outcomes of the decision making mechanism. However, as far as the idea of an equilibrium is...
Persistent link: https://www.econbiz.de/10012969342
We study mechanisms for environments in which only some of the agents are directly connected to a mechanism designer and the other agents can participate in a mechanism only through the connected agents' referrals. In such environments, the mechanism designer and agents may have different...
Persistent link: https://www.econbiz.de/10012954132
This study demonstrates a novel epistemological approach to mechanism design. We consider a type space in which agents are either selfish or honest, and show that a slight possibility of honesty in higher-order beliefs motivates all selfish agents to behave sincerely. Specifically, in our model,...
Persistent link: https://www.econbiz.de/10013241577
Different evaluators typically disagree how to rank different candidates since they care more or less for the various qualities of the candidates. It is assumed that all evaluators submit vector bids assigning a monetary bid for each possible rank order. The rules must specify for all possible...
Persistent link: https://www.econbiz.de/10008991294
This paper considers mechanism design problems in environments with ambiguity-sensitive individuals. The novel idea of the paper is to introduce ambiguity in mechanisms so as to exploit the ambiguity sensitivity of individuals. We prove a revelation principle for the partial implementation of...
Persistent link: https://www.econbiz.de/10013123537
Can mechanism design save democracy? We propose a simple design that offers a chance: individuals pay for as many votes as they wish using a number of "voice credits" quadratic in the votes they buy. Only quadratic cost induces marginal costs linear in votes purchased and thus welfare optimality...
Persistent link: https://www.econbiz.de/10012975457
This paper considers an implementation problem with bounded rationality of the agents. Bounded rationality presented here means that the agent might choose the agent's best response which is different from the agent's dominant strategy. To describe such a behavior, this paper introduces a new...
Persistent link: https://www.econbiz.de/10012838228