Showing 1 - 10 of 21
We uncover a new necessary condition for implementation in iteratively undominated strategies by mechanisms that satisfy the “best element property” where for each agent, there exists a strategy profile that gives him the highest payoff in the mechanism. This class includes finite and...
Persistent link: https://www.econbiz.de/10011042920
We study a mechanism design problem where arbitrary restrictions are placed on the sets of first-order beliefs of agents. Calling these restrictions Δ, we use Δ-rationalizability (Battigalli and Siniscalchi, 2003, [5]) as our solution concept, and require that a mechanism virtually implement a...
Persistent link: https://www.econbiz.de/10011042982
A jury has to choose the winner of a contest. There exists a deserving winner, whose identity is common knowledge among the jurors, but not known by the planner. Jurors may be biased in favor (friend) or against (enemy) some contestants. We study conditions on the confi?guration of the jury so...
Persistent link: https://www.econbiz.de/10011103261
A jury has to decide the winner of a competition among a group of contestants. All members of the jury know who the deserving winner is, but this contestant is unknown to the planner. The social optimum is that the jury select the deserving winner. Each individual juror may be biased in favor...
Persistent link: https://www.econbiz.de/10011276114
Restricting attention to economic environments, we study implementation under perturbed better-response dynamics (BRD). A social choice function (SCF) is implementable in stochastically stable strategies of perturbed BRD whenever the only outcome supported by the stochastically stable strategies...
Persistent link: https://www.econbiz.de/10010317077
Models of choice where agents see others as less sophisticated than themselves have significantly different, sometimes more accurate, predictions in games than does Nash equilibrium. When it comes to mechanism design, however, they turn out to have surprisingly similar implications. This paper...
Persistent link: https://www.econbiz.de/10011669325
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions in the direction of better-responses within a given institution. We offer results both under complete and incomplete information. First, we show that a necessary condition for...
Persistent link: https://www.econbiz.de/10005764668
We analyze the problem of choosing the w contestants who will win a competition within a group of n w competitors when all jurors commonly observe who the w best contestants are, but they may be biased. We study conditions on the configuration of the jury so that it is possible to induce the...
Persistent link: https://www.econbiz.de/10008486378
We study the classic implementation problem under the behavioral assumption that agents myopically adjust their actions in the direction of better-responses within a given institution. We offer results both under complete and incomplete information. First, we show that a necessary condition for...
Persistent link: https://www.econbiz.de/10005168666
We analyze the problem of choosing the w contestants who will win a competition within a group of nw competitors when all jurors commonly observe who are the w best contestants but may be biased. We study conditions on the configuration of the jury so that it is possible to induce the jurors to...
Persistent link: https://www.econbiz.de/10004997395