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Altruists and envious people who meet in contests are symbionts. They do better than a population of narrowly rational individuals. If there are only altruists and envious individuals, a particular mixture of altruists and envious individuals is evolutionarily stable.
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It can be advantageous for an office motivated party A to spend effort to make it public that a group of voters will lose from party A's policy proposal. Such effort is called inverse campaigning. The inverse campaigning equilibria are described for the case where the two parties can...
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Incomplete information is a commitment device for time consistency problems. In the context of time consistent labor income taxation privacy can lead to a Pareto superior outcome and increases the effectiveness of public education as a second best policy.
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Incomplete information is a commitment device for time consistency problems. In the context of time consistent labor income taxation privacy can lead to a Pareto superior outcome and increases the effectiveness of public education as a second best policy.
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