Showing 111 - 120 of 127
Persistent link: https://www.econbiz.de/10010044464
Persistent link: https://www.econbiz.de/10009342633
This paper studies collusion between two bidders in a general symmetric IPV repeated auction, without communication, transfers, or public randomization. I construct a collusive scheme, called endogenous bid-rotation, which gives a payoff larger than the bid-rotation payoff, when valuations are...
Persistent link: https://www.econbiz.de/10014200891
In a set-target game, two players choose elements in some set X, and payoffs depend on whether the value of some function of these choices lies in a target set T. Typically, a set-target game has a continuum of Nash equilibria. Replacing the deterministic set T by a stochastic one and then...
Persistent link: https://www.econbiz.de/10014077764
Appellate courts sometimes issue inconsistent decisions. Individual judges are sometimes inconsistent too. We argue that making judges more consistent could exacerbate the problem of inconsistent courts. We do so through a variant of Arrow's model of preference aggregation in which preferences...
Persistent link: https://www.econbiz.de/10013300789
Persistent link: https://www.econbiz.de/10013365045
There are settings in which linear prices are negotiated by procurement agents and final consumption decision made by end users who are indifferent to negotiated prices.For example, a patient seeking medical treatment is indifferent to the treatment's cost, if it is covered by his insurance...
Persistent link: https://www.econbiz.de/10014243743
Bargaining theory has a conceptual dichotomy at its core: according to one view, the utilities in the bargaining problem are meaningless numbers (v-N.M utilities), while according to another view they do have concrete meaning (willingness to pay). The former position is assumed by the Nash and...
Persistent link: https://www.econbiz.de/10010901499
We consider an economy in which there is an infinite stream of pies, each of size one, one in every period. For each agent, the per-period utility function, which is defined on that period's consumption, is determined by the previous period's consumption. We describe specifications of this model...
Persistent link: https://www.econbiz.de/10010901500
Persistent link: https://www.econbiz.de/10010053997