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We examine the problem of allocating a resource repeatedly over time amongst a set of agents. The utility that each agent derives from consumption of the item is private information to that agent and, prior to consumption may be unknown to that agent. The problem is motivated by keyword...
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We consider rules that choose a location on a graph (e.g. a network of roads) based on the report of agents' symmetric, single-peaked preferences over points on that graph. We show that while a strategy-poof, onto rule is not necessarily dictatorial, the existence of a cycle on the graph grants...
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We propose a framework for reconciling frequentist and subjectivist views of probability. In an environment with repeated trails we show that beliefs about the possible states of nature can be represented by probabilities. Second, these probabilities will correspond to long run frequencies. In...
Persistent link: https://www.econbiz.de/10012236066
An absorbing game is a repeated game where some of the action combinations are absorbing, in the sense that whenever they are played, there is a positive probability that the game terminates, and the players receive some terminal payoff at every future stage. We prove that every n-player...
Persistent link: https://www.econbiz.de/10012236084
Many auctions involve the sale of a variety of distinct assets. Examples are airport time slots, delivery routes and furniture. Because of complimentarities (or substitution effects) between the different assets, bidders have preferences not just for particular items but for sets or bundles of...
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