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Stochastically stable implementation
Cabrales, Antonio; Serrano, Roberto - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 59-72
; evolutionary dynamics ; mechanisms ; stochastic stability …
Persistent link: https://www.econbiz.de/10009506456
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Stochastically stable implementation
Cabrales, Antonio; Serrano, Roberto - Departamento de Economía, Universidad Carlos III de Madrid - 2011
Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD). A social choice function (SCF) is implementable in stochastically stable strategies of perturbed BRD whenever the only outcome supported by the stochastically stable strategies...
Persistent link: https://www.econbiz.de/10008876323
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Implementation in adaptive better-response dynamics: Towards a general theory of bounded rationality in mechanisms
Cabrales, Antonio; Serrano, Roberto - In: Games and Economic Behavior 73 (2011) 2, pp. 360-374
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions in the direction of better-responses or best-responses. First, we show that a necessary condition for recurrent implementation in better-response dynamics (BRD) is a small...
Persistent link: https://www.econbiz.de/10010577250
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Implementation in adaptive better-response dynamics
Cabrales, Antonio; Serrano, Roberto - Instituto de Ciencias Sociales, Instituto Madrileño de … - 2007
then tighten the assumptions on preferences and mutation processes and provide mechanisms for stochastically stable …
Persistent link: https://www.econbiz.de/10005764668
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Implementation, elimination of weakly dominated strategies and evolutionary dynamics
Cabrales, Antonio; Ponti, Giovanni - Department of Economics and Business, Universitat … - 1997
This paper is concerned with the realism of mechanisms that implement social choice functions in the traditional sense …
Persistent link: https://www.econbiz.de/10005772028
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Adaptive dynamics and the implementation problem with complete information
Cabrales, Antonio - Department of Economics and Business, Universitat … - 1996
This paper studies the equilibrating process of several implementation mechanisms using naive adaptive dynamics. We … way we cast some doubt on the criticism of ``complexity'' commonly used against this mechanism. For mechanisms that use … implementation with refined equilibrium concepts have claimed that the mechanisms they propose are ``simple'' and implement …
Persistent link: https://www.econbiz.de/10005772289
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IMPLEMETATION IN ADAPTIVE BETTER-RESPONSE DYNAMICS
Serrano, Roberto; Cabrales, Antonio - Centro de Estudios Monetarios y Financieros (CEMFI) - 2007
then tighten the assumptions on preferences and mutation processes and provide mechanisms for stochastically stable …
Persistent link: https://www.econbiz.de/10005168666
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To err is human: Implementation in quantal response equilibria
Tumennasan, Norovsambuu - In: Games and Economic Behavior 77 (2013) 1, pp. 138-152
We study the implementation problem when players are prone to make mistakes. To capture the idea of mistakes, Logit Quantal Response Equilibrium (LQRE) is used, and we consider a case in which players are almost rational, i.e., the sophistication level of players approaches infinity. We show...
Persistent link: https://www.econbiz.de/10010603331
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Level-k mechanism design
De Clippel, Geoffroy; Saran, Rene; Serrano, Roberto - 2016 - This version: July 2016
Models of choice where agents see others as less sophisticated than themselves have significantly different, sometimes more accurate, predictions in games than does Nash equilibrium. When it comes to mechanism design, however, they turn out to have surprisingly similar implications. This paper...
Persistent link: https://www.econbiz.de/10011515723
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Mechanism design with bounded depth of reasoning and small modeling mistakes
De Clippel, Geoffroy; Saran, Rene; Serrano, Roberto - 2014
rational expectations. We use simple direct mechanisms, in which agents report only first-order beliefs. While level 0 agents …
Persistent link: https://www.econbiz.de/10010401721