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Cabrales, Antonio; Serrano, Roberto - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 59-72

; evolutionary dynamics ; mechanisms ; stochastic stability …

Persistent link: https://www.econbiz.de/10009506456

Implementation in adaptive better-response dynamics: Towards a general theory of bounded rationality in mechanisms

Cabrales, Antonio; Serrano, Roberto - In: Games and Economic Behavior 73 (2011) 2, pp. 360-374

We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions in the direction of better-responses or best-responses. First, we show that a necessary condition for recurrent implementation in better-response dynamics (BRD) is a small...

Persistent link: https://www.econbiz.de/10010577250

To err is human: Implementation in quantal response equilibria

Tumennasan, Norovsambuu - In: Games and Economic Behavior 77 (2013) 1, pp. 138-152

We study the implementation problem when players are prone to make mistakes. To capture the idea of mistakes, Logit Quantal Response Equilibrium (LQRE) is used, and we consider a case in which players are almost rational, i.e., the sophistication level of players approaches infinity. We show...

Persistent link: https://www.econbiz.de/10010603331

Stochastically stable implementation

Cabrales, Antonio; Serrano, Roberto - In: SERIEs 3 (2012) 1, pp. 59-72

Persistent link: https://www.econbiz.de/10010846002

All but one free ride when wealth effects are small

Silvestre, Joaquim - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 201-207

Quasilinear preferences on a public good and a numeraire good are limits of preferences where both goods are normal. The set of equilibria of the voluntary contribution (or private provision) game is easily characterized under quasilinearity by: top valuators aggregately contribute their common...

Persistent link: https://www.econbiz.de/10009506418

Deciding whether a law is constitutional, interpretable, or unconstitutional

Amorós, Pablo; Martínez, Ricardo; Moreno, Bernardo; … - In: SERIEs : Journal of the Spanish Economic Association 3 (2012) 1/2, pp. 1-14

runoff. Runoff voting systems can be interpreted both, as social choice functions or as mechanisms. It is known that, for … setting the preferences are restricted to be singlepeaked over three alternatives, these problems persist. Runoff mechanisms … dominant strategies via other simple and natural mechanisms. -- runoff voting system ; Condorcet consistency ; strategy …

Persistent link: https://www.econbiz.de/10009506479

Chapter 22 Social Dynamics: TheorY AND Applications

Young, H. Peyton - In: Handbook of computational economics : volume 2, …, (pp. 1081-1108). 2006

Agent-based models typically involve large numbers of interacting individuals with widely differing characteristics, rules of behavior, and sources of information. The dynamics of such systems can be extremely complex due to their high dimensionality. This chapter discusses a general method for...

Persistent link: https://www.econbiz.de/10014024383

Finite supermodular design with interdependent valuations

Mathevet, Laurent; Taneva, Ina - In: Games and Economic Behavior 82 (2013) C, pp. 327-349

-post implementation may not be possible. We propose direct (Bayesian) mechanisms that are robust to certain forms of bounded rationality …

Persistent link: https://www.econbiz.de/10010719489

Competitive equilibrium in markets for votes

Casella, Alessandra; Llorente-Saguer, Aniol; Palfrey, … - 2012

We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium, and show by construction that an equilibrium exists. The equilibriumwe...

Persistent link: https://www.econbiz.de/10009500733

Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth

Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...

Persistent link: https://www.econbiz.de/10014023678