Showing papers in "Journal of Mathematical Economics in 2020"

TL;DR: This paper showed that if the receiver has any private receiver information, then the weakest senders with good news gain the most from boasting about it and that the act of disclosing good news can paradoxically make the sender look bad.

TL;DR: In this paper, the authors consider the problem of sharing the revenues from broadcasting sports leagues among participating teams and introduce axioms formalizing alternative ways of allocating the extra revenue obtained from additional viewers.

TL;DR: In this paper, the effect of introducing a bilingual option on the long run equilibrium outcome in a class of two-strategy coordination games with distinct payoff and risk dominant equilibria under the logit choice rule was studied.

TL;DR: In this paper, a non-traditional game-theoretic framework combining elements of stochastic dynamic games and evolutionary game theory is proposed to identify an investment strategy that allows an investor to survive in the market selection process, i.e., to keep with probability one a strictly positive, bounded away from zero share of market wealth over an infinite time horizon.

TL;DR: In this article, the authors give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations, which are derived without assuming expected utility at the social level.

TL;DR: In this paper, the authors axiomatize a model of satisficing which features random thresholds and the possibility of choice abstention, and characterize this model using two simple axioms.

TL;DR: In this article, the authors consider how group size affects the private provision of a public good with non-refundable binary contributions and show that both expected payoffs and the probability that the public good is obtained in the best symmetric equilibrium are decreasing in group size.

TL;DR: In this paper, the authors derived a performance index based on the economic index of riskiness by Aumann and Serrano (2008) can be derived from an index based upon the utility indifference price with the exponential utility function and provided sufficient conditions for the existence and uniqueness of the index when the investor is risk averse and risk loving.

TL;DR: In this paper, the authors studied the independence of higher claims and independence of irrelevant claims on the domain of bargaining problems with claims and characterized a new constrained Nash solution, a constrained Kalai-Smorodinsky solution, and a constrained k-means solution.

TL;DR: In this paper, a generalized family of stochastic orders, semiparametrized by a distortion function H, namely H -distorted stochastically dominance, is studied, which may determine a continuum of dominance relations from the first- to the second-order (and beyond).

TL;DR: In this article, the authors studied the random assignments of bundles with no free disposal and showed that the random serial dictatorship rule is equivalent to the probabilistic serial rule (extended to the setting with bundles).

TL;DR: In this article, the weak α-core for exchange economies with a continuum of players and pseudo-utilities is introduced, and the nonemptiness theorem of weak α -core is established.

TL;DR: In this article, the authors study dynamically consistent policy in a neoclassical overlapping generations growth model where pollution externalities undermine health but are mitigated via tax-financed abatement.

TL;DR: In this article, an infinite-horizon endogenous growth framework for studying the effects of foreign aid on the economic growth in a recipient country is introduced, where aid is used to partially finance the recipient's public investment.

TL;DR: In this article, the preference for additive and multiplicative risk apportionment when risk ordering relies on stochastic dominance is investigated, and it is shown that additive risk preference is preserved when the decision-maker is confronted to other risk situations, so long as the total order of the dominance relationships among risk couples remains the same.

TL;DR: In this article, the authors study the properties of additive intertemporal utility functionals, and prove rigorously that time consistency holds if and only if the per-period felicity function is multiplicatively separable in t, the date of decision and in s − s − date of consumption, or equivalently, if the Fisherian instantaneous subjective discount rate does not depend on t.

TL;DR: In this paper, the authors revisit the optimality issue and, using advanced techniques in Dynamic Programming, answer the following long-standing open questions: (i) Is the solution found in Carroll et al., (2017, 2000) optimal? (ii) Is it also unique or do other optimal solutions exist?

TL;DR: In this paper, the authors proposed a new system of democratic representation in which any voter can choose any legislator as her representative; thus, different legislators can represent different numbers of voters and decisions in the legislature are made by weighted majority voting, where the weight of each legislator is determined by the number of voters she represents.

TL;DR: In this paper, the authors introduce a technique developed in Bhat and Bernstein (2003) as a useful way to answer the question of whether convergence to the set of Nash equilibria implies convergence to a Nash equilibrium.

TL;DR: This paper examined how endogenous time preference interacts with inequalities in economic development, and showed that under decreasing marginal impatience (DMI), an unequal society may be preferable for poor households than an egalitarian one in which every household owns an equal share of asset.

TL;DR: Correlated equilibrium constitutes one of the basic solution concepts for static games with complete information and has been used interchangeably in the literature as mentioned in this paper, however, it is known that the original and the canonical version of correlated equilibrium are equivalent from an exante perspective.

TL;DR: In this article, the existence of a competitive equilibrium in a production economy with infinitely many commodities and a measure space of agents whose preferences are price dependent was proved, employing a saturated measure space for the set of agents.

TL;DR: In this paper, the authors relax the assumption of menu-independence and allow for any restriction to be imposed on the attention function, and show that there is an equivalence between the attentive function and the hazard rate.

TL;DR: In models without transfers, it is shown that every cardinal incentive compatible voting mechanism satisfying a continuity condition, can only take ordinal, but not cardinal information into account.

TL;DR: In this article, the bargaining set defined through generalized coalitions coincides with competitive allocations under assumptions which are weak and natural in the mixed market literature, and some additional properties that a generalized coalition must satisfy to object an allocation are identified.

TL;DR: The authors characterizes the stochastic deterioration resulting from taking a zero-mean financial risk in the presence of correlated non-financial background risk and characterizes a measure of aversion to such deterioration.

TL;DR: A novel simplified approach to Savage's theory of subjective expected utility is provided, based on abstract integral representation theorems in the space of measurable functions, that can be used to easily obtain variations on Savage's theorem.

TL;DR: Using the framework of fixed-agenda social choice theory, a characterization of the Pareto optimal social choice correspondence is presented and a new independence condition, P -independence, is introduced, which leads to the conclusion that the social choice set and the Preto optimal set are the same.

TL;DR: The following questions are answered: Is each efficient allocation of de Castro and Yannelis (2018) still Pareto optimal?

TL;DR: This article considers an inter-temporal optimization problem in a fairly general form and gives sufficient conditions ensuring the convergence to infinity of the economy.