Showing 1 - 7 of 7
This paper identifies several social-choice correspondences which are or are not fully implementable in economic environments when agents are incompletely informed about the environment. The authors show that in contrast to results in the case of complete information, neither efficient...
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This paper characterizes interim efficient mechanisms for public good production and cost allocation in a two-type environment with risk-neutral, quasi-linear preferences and fixed-size projects, where the distribution of the private good, as well as the public goods decision, affects social...
Persistent link: https://www.econbiz.de/10005242629
An experiment was conducted to test whether discounted repeated play leads to greater cooperation and coordination than one-shot play in a public good environment with incomplete information. The design varied a number of environmental parameters, including the size of the group, and the...
Persistent link: https://www.econbiz.de/10005672603
This paper analyzes optimal contracts in an infinitely-repeated agency model in which both the principal and agent discount the future. The authors show that there is a stationary representation of the optimal contract when the agent's c onditional, discounted expected utility is used as a state...
Persistent link: https://www.econbiz.de/10005168233
For some game theoretic solution concepts, such as dominant strategies, Nash equilibrium, and undominated strategies, only dictatorial social choice functions are implementable on a full domain of preferences with at least three alternatives. For other solution concepts, such as the iterative...
Persistent link: https://www.econbiz.de/10005251252