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interpreted as a mechanism theoretical implementation of the Nash solution. Our results in the present paper provide exact non … of the above mentioned support results, including our present ones, with mechanism theoretic implementation in (weakly … implementation can hardly be found except in very rare cases of extremely restricted domains of players' preferences. …
Persistent link: https://www.econbiz.de/10011582516
dimension to the original space of outcomes and construct a static mechanism similar to the one used in virtual implementation …. The implementation is imminent: the mechanism results in the original outcome, which is provided with an arbitrarily small …
Persistent link: https://www.econbiz.de/10005110967
implementation with incomplete information has often left out the consideration of mixed-strategy equilibria. This is particularly … necessary and sufficient conditions for full implementation of social choice sets in mixed-strategy Bayesian equilibrium. We … refer to this as mixed implementation. Our results characterize both exact and virtual mixed implementation. For exact …
Persistent link: https://www.econbiz.de/10005702677
We extend implementation theory by allowing the social choice function to depend on more than just the preferences of … is necessary for the implementation of a social choice function f when the preferences of the agents are state … independent and sufficient for implementation for any preferences (including state dependent) with at least three agents if the …
Persistent link: https://www.econbiz.de/10011042924
dimension to the original space of outcomes and construct a static mechanism similar to the one used in virtual implementation …. The implementation is imminent: the mechanism results in the original outcome, which is provided with an arbitrarily small …
Persistent link: https://www.econbiz.de/10010629830
) implementation with partially honest agents when there are three or more participants. First, it establishes a condition which is … necessary and sufficient for implementation. Second, it provides simple tests for checking whether or not a social choice … correspondence can be implemented. Their usefulness is shown by examining implementation in a wide variety of environments. …
Persistent link: https://www.econbiz.de/10011258792
This essay introduces the symposium on computer science and economic theory.
Persistent link: https://www.econbiz.de/10011189760
interpreted as a mechanism theoretical implementation of the Nash solution. Our results in the present paper provide exact non … of the above mentioned support results, including our present ones, with mechanism theoretic implementation in (weakly … implementation can hardly be found except in very rare cases of extremely restricted domains of players' preferences. …
Persistent link: https://www.econbiz.de/10011412680
We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and that subjects attain the most efficient ownership allocation despite starting...
Persistent link: https://www.econbiz.de/10010261192
We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become inferior when some agents value fairness. Conversely,...
Persistent link: https://www.econbiz.de/10010261212