Theory and Decision最新文献

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Contests with multiplicative sabotage effect 具有乘法破坏效应的竞赛
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-04-27 DOI: 10.1007/s11238-024-09983-x
Haoming Liu, Jingfeng Lu, Yohanes E. Riyanto, Zhe Wang
{"title":"Contests with multiplicative sabotage effect","authors":"Haoming Liu, Jingfeng Lu, Yohanes E. Riyanto, Zhe Wang","doi":"10.1007/s11238-024-09983-x","DOIUrl":"https://doi.org/10.1007/s11238-024-09983-x","url":null,"abstract":"<p>This paper investigates a two-player contest with a multiplicative sabotage effect, showing it can be converted into a standard Tullock contest with a nonlinear, endogenous cost function. We prove the existence and uniqueness of a pure strategy equilibrium. Our findings suggest that sabotage activities can be more pronounced when the productivity difference between players is small, and the more productive player might not necessarily undergo more attacks. Lazear and Rosen (1981) first-best outcome is attainable for symmetric players if sabotage is sufficiently ineffective or costly. When it is unattainable, optimal pay difference induces positive sabotage only if sabotage is ineffective but relatively inexpensive. Optimal pay difference decreases with effectiveness and increases with the marginal cost of destructive effort, exhibiting a non-monotonic relationship with productive-effort effectiveness. This non-monotonicity contrasts with the monotonicity of the first best pay difference when sabotage is infeasible.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"40 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140802604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Combining Savage and Laplace: a new approach to ambiguity 萨维奇与拉普拉斯的结合:处理模糊性的新方法
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-04-26 DOI: 10.1007/s11238-024-09980-0
Ralf Diedrich
{"title":"Combining Savage and Laplace: a new approach to ambiguity","authors":"Ralf Diedrich","doi":"10.1007/s11238-024-09980-0","DOIUrl":"https://doi.org/10.1007/s11238-024-09980-0","url":null,"abstract":"<p>This paper presents a new representation of preference orderings for the study of ambiguity-related decision-making. The central feature is a preference-based decomposition of subjective probabilities that provides information about inherent ambiguity. The probability decomposition is combined with a utility function reflecting the decision-maker’s attitude toward ambiguity. The proposed theory generalizes Savage’s SEU and allows for a straightforward measurement of ambiguity and ambiguity aversion while keeping concepts for measuring risk and risk attitudes unaffected. For the measurement of ambiguity, concepts of probability theory can be used since decision acts can be interpreted as two-dimensional probability distributions. The proposed measure of ambiguity aversion exploits the properties of the utility function in the same way as the Arrow/Pratt measure of risk aversion.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"73 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140802603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Au introspection and symmetry under non-trivial unawareness 非三维不可知性下的奥内省和对称性
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-03-13 DOI: 10.1007/s11238-024-09979-7
Yoshihiko Tada
{"title":"Au introspection and symmetry under non-trivial unawareness","authors":"Yoshihiko Tada","doi":"10.1007/s11238-024-09979-7","DOIUrl":"https://doi.org/10.1007/s11238-024-09979-7","url":null,"abstract":"<p>This note discusses the relationship between AU Introspection (i.e., an agent is unaware of some event, then she is unaware of that she is unaware of the event) and Symmetry (i.e., an agent is unaware of some event if and only if she is unaware of the complement set) for non-trivial unawareness (i.e., there is an event an agent is unaware of). without Negative Introspection using a set-theoretical approach in standard state-space models. Previous studies have explored the equivalence between Negative Introspection and AU Introspection, or the equivalence between Negative Introspection and Symmetry, by assuming Necessitation of the knowledge operator. As a corollary, AU Introspection is equivalent to Symmetry. However, no studies have shown the relationship between AU Introspection and Symmetry without Necessitation. Therefore, we explore this issue. Our main result shows that if the knowledge operator satisfies Monotonicity, Truth, and Positive introspection, then Modica and Rustichini’s definition of unawareness leads to the equivalence of AU Introspection and Symmetry. In other words, we show that both AU Introspection and Symmetry hold without clashing with non-trivial unawareness.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"84 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140147795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Incomplete contracts with disparity, uncertainty, information and incentives 存在差异、不确定性、信息和激励措施的不完整合同
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-03-01 DOI: 10.1007/s11238-024-09976-w
Susheng Wang
{"title":"Incomplete contracts with disparity, uncertainty, information and incentives","authors":"Susheng Wang","doi":"10.1007/s11238-024-09976-w","DOIUrl":"https://doi.org/10.1007/s11238-024-09976-w","url":null,"abstract":"<p>Cooperation among firms is governed by contracts. An interesting phenomenon is that some contracts are comprehensive while some are limited. This study tries to explain different levels of the incompleteness of contracts that firms choose to govern their cooperation with. We find that a limited contract is more efficient than a comprehensive contract if partners are highly disparate or product quality is largely uncertain, and vice versa. In contrast, if there are private information and incentives to invest in quality, a comprehensive contract is likely to be more efficient. These findings offer an understanding as to why incomplete contracts are so popular in practice.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"80 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140018400","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Coordinated and uncoordinated punishment in a team investment game 团队投资游戏中的协调和非协调惩罚
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-02-24 DOI: 10.1007/s11238-024-09977-9
Vicente Calabuig, Natalia Jiménez-Jiménez, Gonzalo Olcina, Ismael Rodriguez-Lara
{"title":"Coordinated and uncoordinated punishment in a team investment game","authors":"Vicente Calabuig, Natalia Jiménez-Jiménez, Gonzalo Olcina, Ismael Rodriguez-Lara","doi":"10.1007/s11238-024-09977-9","DOIUrl":"https://doi.org/10.1007/s11238-024-09977-9","url":null,"abstract":"<p>Coordinated punishment occurs when punishment requires a specific number of punishers to be effective, otherwise, no damage will be inflicted on the target. While societies often rely on this punishment device, its benefits are unclear compared to uncoordinated punishment, where punishment decisions are substitutes. In this paper, we compare the efficacy of coordinated and uncoordinated punishment in a team investment game with two investors and one allocator. Our findings indicate that coordinated punishment results in higher levels of cooperation and reciprocity, as measured by the levels of joint investment and the return by allocators. Importantly, this does not translate into higher payoffs: investors use punishment more frequently when this is coordinated, which destroys the efficiency gains generated by the highest investment. In fact, our results suggest that the highest level of efficiency would be achieved if investors were not allowed to punish.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"142 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139953701","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The role of noise variance on effort in group contests 噪声方差对小组竞赛努力程度的影响
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-02-17 DOI: 10.1007/s11238-023-09974-4
Merve İntişah, Mürüvvet Büyükboyacı
{"title":"The role of noise variance on effort in group contests","authors":"Merve İntişah, Mürüvvet Büyükboyacı","doi":"10.1007/s11238-023-09974-4","DOIUrl":"https://doi.org/10.1007/s11238-023-09974-4","url":null,"abstract":"<p>We theoretically and experimentally examine the effect of noise variance and prize value on effort in individual contests and in three types of group contests: perfect-substitutes, best-shot, and weakest-link. For all contest types, we use the rank-order contest model, where effort and random noise determine performance. The theoretical model for individual contests predicts that effort will increase with prize value and decrease with noise variance. As expected, all subjects in our experiment decrease their efforts as noise variance rises, regardless of the value of the prize. Prize value, however, has no effect on effort. In group contests, each group consists of two players with different prize values. The player for whom the prize value is higher is referred to as a strong player; the other is referred to as a weak player. The theoretical model also predicts that exerted positive efforts will decrease with noise variance in all group contests. Our experimental results show that in perfect-substitutes and weakest-link contests, noise variance has no effect on either strong or weak subjects’ efforts. In best-shot contests, however, both strong and weak subjects decrease their efforts when noise variance increases. Finally, we compare the efforts of subjects in individual and group contests. We find differences only in perfect-substitutes and best-shot contests when the noise variance is high. Efforts are higher in perfect-substitutes contests and lower in best-shot contests compared to individual contests.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"133 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139903750","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Constrained dictatorial rules are subject to variable-population paradoxes 受约束的独裁规则受制于可变人口悖论
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-02-14 DOI: 10.1007/s11238-023-09975-3
William Thomson
{"title":"Constrained dictatorial rules are subject to variable-population paradoxes","authors":"William Thomson","doi":"10.1007/s11238-023-09975-3","DOIUrl":"https://doi.org/10.1007/s11238-023-09975-3","url":null,"abstract":"<p>In the context of classical exchange economies, we study four ways in which agents can strategically take advantage of allocation rules by affecting who participates and on what terms (Thomson in Soc Choice Welf 42:289–311, 2014). (1) An agent transfers their endowment to someone else and withdraws. The two of them may end up controlling resources that allow them to simultaneously reach higher welfare levels than they otherwise would. (2) An agent invites someone in and let their guest use some of their (the host’s) endowment. The guest transfers back to them what they are assigned over their endowment. The host may benefit. (3) An agent withdraws with their endowment. As in (1), they and someone who stays may end up controlling resources that allow the two of them to simultaneously reach higher welfare levels than they otherwise would. (4) An agent pre-delivers to someone else the net trade that the rule would assign to that agent had the agent participated. The second agent withdraws. The first agent participates with a modified endowment. The first agent may benefit. We ask whether “the constrained priority rules”, defined by maximizing the welfare of a particular agent subject to each of the others finding their assignment at least as desirable as their endowment satisfy these various requirements. The answers are all negative. Because these types of rules are often better behaved than rules that attempt some fairness in distributing gains from trade, these results strengthen the negative conclusions reached in Thomson (2014), and they may provide the key to identifying circumstances in which rules exist that satisfy the axioms, or to proving general impossibility results.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"16 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is social capital bridging or bonding? Evidence from a field experiment with association members 社会资本是桥梁还是纽带?以协会成员为对象的实地实验证据
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-02-10 DOI: 10.1007/s11238-023-09971-7
Giacomo Degli Antoni, Gianluca Grimalda
{"title":"Is social capital bridging or bonding? Evidence from a field experiment with association members","authors":"Giacomo Degli Antoni, Gianluca Grimalda","doi":"10.1007/s11238-023-09971-7","DOIUrl":"https://doi.org/10.1007/s11238-023-09971-7","url":null,"abstract":"<p>Social capital theorists posit that association members are key agents for propagating norms of trust and trustworthiness from within associations toward the society as a whole. Nevertheless, others claim that social capital is primarily bonding, that is, it helps ingroup members better achieve internal goals, but little benefits or even costs carry over to the rest of society. We deploy experimental methods to probe into whether social capital in associations has a predominantly bridging or bonding nature. We compare members’ behavior in anonymous Trust Games with behavior by a demographically comparable sample of non-members. We find that (a) Members are significantly more trusting and trustworthy than the general population both when interacting with fellow members and with people from the general population; (b) Members trust and repay trust from people from the general public nearly at the same level as they do with fellow members. Therefore, most of social capital existing within associations “bridges” over to the rest of society. We quantify 83% of additional trust, and 71% of additional trustworthiness existing in associations vis-à-vis society at large to be bridging and the remainder to be bonding. (c) Association members are no more optimistic or less accurate in predicting others’ behavior than people from the general public. (d) Increased involvement in association activities is not correlated with increased pro-sociality.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"15 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139770674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
False-name-proof and strategy-proof voting rules under separable preferences 可分离偏好下的防假名和防策略投票规则
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-01-25 DOI: 10.1007/s11238-023-09973-5
{"title":"False-name-proof and strategy-proof voting rules under separable preferences","authors":"","doi":"10.1007/s11238-023-09973-5","DOIUrl":"https://doi.org/10.1007/s11238-023-09973-5","url":null,"abstract":"<h3>Abstract</h3> <p>We consider the problem of a society that uses a voting rule to choose a subset from a given set of objects (candidates, binary issues, or alike). We assume that voters’ preferences over subsets of objects are separable: adding an object to a set leads to a better set if and only if the object is good (as a singleton set, the object is better than the empty set). A voting rule is strategy-proof if no voter benefits by not revealing its preferences truthfully and it is false-name-proof if no voter benefits by submitting several votes under other identities. We characterize all voting rules that satisfy false-name-proofness, strategy-proofness, and ontoness as the class of voting rules in which an object is chosen if it has either at least one vote in every society or a unanimous vote in every society. To do this, we first prove that if a voting rule is false-name-proof, strategy-proof, and onto, then the identities of the voters are not important.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"46 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-01-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139578323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Decomposition of interaction indices: alternative interpretations of cardinal–probabilistic interaction indices 交互作用指数的分解:心智-概率交互作用指数的替代解释
IF 0.8 4区 经济学
Theory and Decision Pub Date : 2024-01-23 DOI: 10.1007/s11238-023-09970-8
Sébastien Courtin, Rodrigue Tido Takeng , Frédéric Chantreuil
{"title":"Decomposition of interaction indices: alternative interpretations of cardinal–probabilistic interaction indices","authors":"Sébastien Courtin, Rodrigue Tido Takeng , Frédéric Chantreuil","doi":"10.1007/s11238-023-09970-8","DOIUrl":"https://doi.org/10.1007/s11238-023-09970-8","url":null,"abstract":"<p>In cooperative game theory, the concept of interaction index is an extension of the concept of one-point solution that takes into account interactions among players. In this paper, we focus on cardinal–probabilistic interaction indices that generalize the class of semivalues. We provide two types of decompositions. With the first one, a cardinal–probabilistic interaction index for a given coalition equals the difference between its external interaction index and a weighted sum of the individual impact of the remaining players on the interaction index of the considered coalition. The second decomposition, based on the notion of the \"decomposer\", splits an interaction index into a direct part, the decomposer, which measures the interaction in the coalition considered, and an indirect part, which indicates how all remaining players individually affect the interaction of the coalition considered. We propose alternative characterizations of the cardinal–probabilistic interaction indices.</p>","PeriodicalId":47535,"journal":{"name":"Theory and Decision","volume":"7 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2024-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139562174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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