Showing 1 - 10 of 2,748
Noting that a full characterization of Nash-implementation is given using a canonical-mechanism and Maskin's theorem (Maskin, 1999) is shown using a mechanism with Saijo's type of strategy space reduction (Saijo, 1988), this paper fully characterizes the class of Nash-implementable social choice...
Persistent link: https://www.econbiz.de/10014195916
Two experts make yes/no predictions about whether an event, such as an economic crisis, will occur. They receive private signals about the likelihood of the event that are much more informative than the coarse recommendations they can ultimately convey. The experts may care about both absolute...
Persistent link: https://www.econbiz.de/10012905993
This paper investigates the robustness of Dutta and Sen's (2012) Theorem 1 to weaker notions of truth-telling. An individual honesty standard is modeled as a subgroup of the society, including the individual herself, for which she feels truth-telling concerns. An individual i is honest when she...
Persistent link: https://www.econbiz.de/10011599087
This paper surveys implementation theory when players have incomplete or asymmetric information, especially in economic environments. After the basic problem is introduced, the theory of implementation is summarized. Some coalitional considerations for implementation problems are discussed. For...
Persistent link: https://www.econbiz.de/10012770273
We study a standard collective action problem in which successful achievement of a group interest requires costly participation by some fraction of its members. How should we model the internal organization of these groups when there is asymmetric information about the preferences of their...
Persistent link: https://www.econbiz.de/10014226188
This paper considers Bayesian and Nash implementation in exchange economic environments with state dependent preferences and feasible sets. We fully characterize Bayesian implementability for both diffuse and non-diffuse information structures. We show that, in exchange economic environments...
Persistent link: https://www.econbiz.de/10014208048
Consider the problem of allocating k identical, indivisible objects among n agents, where k is less than n. The planner's objective is to give the objects to the top k valuation agents at zero costs to the planner and the agents. Each agent knows the identity of those k agents, as well as her...
Persistent link: https://www.econbiz.de/10014056211
The planner wants to give k identical, indivisible objects to the top k valuation agents at zero costs. Each agent knows her own valuation of the object and whether it is among the top k. Modify the (k 1)st-price sealed-bid auction by introducing a small participation fee and the option not to...
Persistent link: https://www.econbiz.de/10014180113
In this paper, we investigate behavior in two-player sequential-move contests with complete and incomplete information about the value of the prize, theoretically and experimentally. First, we describe a Bayesian equilibrium of a sequential contest in which both players have private prize...
Persistent link: https://www.econbiz.de/10014237552
We analyze communication about the social returns to investment in a public good. We model two agents who have private information about these returns as well as their own taste for cooperation, or social preferences. Before deciding to contribute or not, each agent submits an unverifiable...
Persistent link: https://www.econbiz.de/10011801387