We study the dynamic implementation of the first-best for King Solomon's Dilemma, on the assumption that boundedly rational players find their way to equilibrium using monotonic evolutionary dynamics. We find that all the mechanisms proposed by the literature fail to implement the first best dynamically and provide an alternative solution.
Ponti, Giovanni Benedetto. (2000). Splitting the baby in two: solving Solomon's dilemma with boundedly rational agents. JOURNAL OF EVOLUTIONARY ECONOMICS, (ISSN: 0936-9937), 10:4, 449-455. Doi: 10.1007/PL00003850.
Splitting the baby in two: solving Solomon's dilemma with boundedly rational agents
Ponti G.
2000
Abstract
We study the dynamic implementation of the first-best for King Solomon's Dilemma, on the assumption that boundedly rational players find their way to equilibrium using monotonic evolutionary dynamics. We find that all the mechanisms proposed by the literature fail to implement the first best dynamically and provide an alternative solution.
File in questo prodotto:
Non ci sono file associati a questo prodotto.
Pubblicazioni consigliate
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
