Overcoming Incentive Constraints? The (In-)effectiveness of Social Interaction
AbstractWe experimentally study behavior in a simple voting game where players have private information about their preferences. With random matching, subjects overwhelmingly follow the dominant strategy to exaggerate their preferences. Applying the linking mechanism suggested by Jackson and Sonnenschein (2005) captures nearly all achievable efficiency gains. Repeated interaction leads to significant gains in truthful representation and efficiency only if players can choose their partners.
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Bibliographic InfoPaper provided by University of Cologne, Department of Economics in its series Working Paper Series in Economics with number 22.
Date of creation: 28 Feb 2006
Date of revision:
Experimental Economics; Mechanism Design; Implementation; Linking; Bayesian Equilibrium; Efficiency;
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-03-11 (All new papers)
- NEP-CDM-2006-03-11 (Collective Decision-Making)
- NEP-EXP-2006-03-11 (Experimental Economics)
- NEP-GTH-2006-03-11 (Game Theory)
- NEP-POL-2006-03-11 (Positive Political Economics)
- NEP-SOC-2006-03-11 (Social Norms & Social Capital)
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