SMU SOE Seminar (September 15, 2022): 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.
		PRESENTER Chew Soo Hong Southwestern University of Finance and Economics National University of Singapore
		RESEARCH FIELDS Decision theory Behavioral Biological and experimental economics Decision genomics
		DATE: 15 September 2022 (Thursday)
		TIME: 4pm - 5.30pm
		VENUE: Meeting Room 5.1 School of Economics Level 5 Singapore Management University 90 Stamford Road Singapore 178903