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; evolutionary dynamics ; mechanisms ; stochastic stability …
Persistent link: https://www.econbiz.de/10009506456
rational expectations. We use simple direct mechanisms, in which agents report only first-order beliefs. While level 0 agents …
Persistent link: https://www.econbiz.de/10010401721
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/10011515723
This paper studies the equilibrating process of several implementation mechanisms using naive adaptive dynamics. We … way we cast some doubt on the criticism of "complexity" commonly used against this mechanism. For mechanisms that use more … refined equilibrium concepts have claimed that the mechanisms they propose are "simple" and implement "everything" (in …
Persistent link: https://www.econbiz.de/10014173649
rational expectations. We use simple direct mechanisms, in which agents report only first-order beliefs. While level 0 agents …
Persistent link: https://www.econbiz.de/10013051820
Persistent link: https://www.econbiz.de/10009527058
While most papers on team decision-making find teams to behave more selfish, less trusting and less altruistic than individuals, Cason and Mui (1997) report that teams are more altruistic than individuals in a dictator game. Using a within-subjects design we re-examine group polarization by...
Persistent link: https://www.econbiz.de/10014026701
While most papers on team decision-making find that teams behave more selfishly, less trustingly and less altruistically than individuals, Cason and Mui (1997) report that teams are more altruistic than individuals in a dictator game. Using a within-subjects design we re-examine group...
Persistent link: https://www.econbiz.de/10009731154
Persistent link: https://www.econbiz.de/10003486255
This paper investigates rationalizable implementation of social choice functions (SCFs) in incomplete information environments. We identify weak interim rationalizable monotonicity (weak IRM) as a novel condition and show that weak IRM is a necessary and almost sufficient condition for...
Persistent link: https://www.econbiz.de/10014092004