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Club goods are ubiquitous: Parks, roads, tunnels, airports, bridges, sports clubs etc. These goods are often provided by governments. A key question is, should a club good be provided or not? To make an efficient provision decision, the government needs access to the private information people...
Persistent link: https://www.econbiz.de/10012913401
The provision of public goods is a challenge for societies. The mechanism design literature has proposed allocation procedures which help to make efficient provision decisions when information is private. Despite its theoretical appeal and the wider acceptance of mechanisms in other areas, in...
Persistent link: https://www.econbiz.de/10012915571
Beginning with Herbert Simon, the literature on bounded rationality has investigated in great detail how internal limitations affect an agent's choice process. The structure of the choice environment, deemed as important as internal limitations by Simon, has been mostly ignored. We introduce a...
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We use quantifiers and selection functions to generalize the classical economic approach to choice. Our framework encompasses preference and utility based approaches as special cases, but also extends to non-maximizing behavior and context-dependent motives such as social concerns. We adapt the...
Persistent link: https://www.econbiz.de/10011490505
This paper provides a unified framework to study the interactions between a minority group, a majority group, and political leaders. Theoretically, we set up a dynamic model of discrimination and assimilation choices and characterize the effect of a shock to the return to discriminatory actions....
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