Showing 1 - 10 of 5,815
We study full implementation with evidence in an environment with bounded utilities. We show that a social choice function is Nash implementable in a direct revelation mechanism if and only if it satisfies the measurability condition proposed by Ben-Porath and Lipman (2012). Building on a novel...
Persistent link: https://www.econbiz.de/10014576714
Despite the wide variety of agendas used in legislative settings, the literature on sophisticated voting has focused on two formats, the so-called Euro-Latin and Anglo-American agendas. In the current paper, I introduce a broad class of agendas whose defining structural features,...
Persistent link: https://www.econbiz.de/10012415641
Recently, it has been shown that the characterizations of different classes of non-manipulable social choice functions with binary range can be reduced to a common functional form. In the present paper, we investigate the reasons why this happens. We show that all the classes considered share a...
Persistent link: https://www.econbiz.de/10015271445
I introduce a model of shareholder voting. I describe and provide characterizations of three families of shareholder voting rules: ratio rules, difference rules, and share majority rules. The characterizations rely on two key axioms: merger consistency, which requires consistency in voting...
Persistent link: https://www.econbiz.de/10012415597
We axiomatically study voting rules without making any assumption on the ballots that voters are allowed to cast. In this setting, we characterize the family of ''endorsement rules", which includes approval voting and the plurality rule, via the imposition of three normative conditions. The...
Persistent link: https://www.econbiz.de/10012806277
We study how a principal should optimally choose between implementing a new policy and maintaining the status quo when information relevant for the decision is privately held by agents. Agents are strategic in revealing their information; the principal cannot use monetary transfers to elicit...
Persistent link: https://www.econbiz.de/10012308697
Extensive measurement is the standard measurement-theoretic approach for constructing a ratio scale. It involves the comparison of objects that can be concatenated in an additively representable way. This paper studies the implications of extensively measurable welfare for social choice theory....
Persistent link: https://www.econbiz.de/10015135361
The value is a solution concept for n-person strategic games, developed by Nash, Shapley, and Harsanyi. The value of a game is an a priori evaluation of the economic worth of the position of each player, reflecting the players' strategic possibilities, including their ability to make threats...
Persistent link: https://www.econbiz.de/10012806287
I develop two related solution concepts, equilibrium coalitional behavior and credible equilibrium coalitional behavior, which capture foresight and impose the requirement that each coalition in a sequence of coalitional moves chooses optimally among all its available options. The model does not...
Persistent link: https://www.econbiz.de/10012308618
We present a model in which an imperfectly informed politician chooses between appointing an independent expert, whose advice is revealed to voters, and a loyal expert whose advice can be concealed from voters and who can therefore be blamed for a bad outcome. The politician is privately...
Persistent link: https://www.econbiz.de/10014414079