Showing 1 - 10 of 46
We show that small switching costs can have surprisingly dramatic effects in infinitely repeated games if these costs are large relative to payoffs in a single period. This shows that the results in Lipman and Wang do have analogs in the case of infinitely repeated games [Lipman, B., Wang, R.,...
Persistent link: https://www.econbiz.de/10005066704
Persistent link: https://www.econbiz.de/10005159445
Persistent link: https://www.econbiz.de/10009945367
Persistent link: https://www.econbiz.de/10003741650
We show that in a class of I‐agent mechanism design problems with evidence, commitment is unnecessary, randomization has no value, and robust incentive compatibility has no cost. In particular, for each agent i, we construct a simple disclosure game between the...
Persistent link: https://www.econbiz.de/10012097965
Persistent link: https://www.econbiz.de/10005408644
Persistent link: https://www.econbiz.de/10005408931
Persistent link: https://www.econbiz.de/10005413629
A principal allocates an object to one of I agents. Each agent values receiving the object and has private information regarding the value to the principal of giving it to him. There are no monetary transfers, but the principal can check an agent's information at a cost. A favored-agent...
Persistent link: https://www.econbiz.de/10011093391
"My own behaviour baffles me. For I find myself not doing what I really want to do but doing what I really loathe." Saint PaulWhat behaviour can be explained using the hypothesis that the agent faces temptation but is otherwise a "standard rational agent"? In earlier work, <xref ref-type="bibr" rid="R8">Gul and Pesendorfer...</xref>
Persistent link: https://www.econbiz.de/10010970126