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SMU SOE Seminar (September 15, 2022): Generalizing Obvious Dominance using the Sure-thing Principle
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TOPIC:
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GENERALIZING OBVIOUS DOMINANCE USING THE SURE-THING PRINCIPLE
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ABSTRACT
We offer a class of solution concepts for dynamic games by allowing obvious dominance (OD, Li, 2017) to be facilitated by players’ application of the sure-thing principle (STP, Savage, 1954) on relevant events in their contingent reasoning. In the resulting k-OD equilibrium, a lower k reflects a less demanding level of sophistication in applying STP. We present the class of gradual mechanisms, featuring dynamic information feedback, as a revelation principle for k-OD implementation. Applying k-OD to implement generalized median voter schemes, we show how an increasing sophistication level k extends the range of implementable social choice functions.
Click here to view the CV.
Click here to view the paper.
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PRESENTER
Chew Soo Hong
Southwestern University of
Finance and Economics
National University of Singapore
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RESEARCH FIELDS
Decision theory
Behavioral
Biological and experimental economics
Decision genomics
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DATE:
15 September 2022 (Thursday)
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TIME:
4pm - 5.30pm
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VENUE:
Meeting Room 5.1
School of Economics Level 5
Singapore Management University
90 Stamford Road
Singapore 178903
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