Representation of constitutions under incomplete information

Representation of constitutions under incomplete information

We model constitutions by effectivity functions. We assume that the constitution is common knowledge among the members of the society. However, the preferences of the citizens are private information. We investigate whether there exist decision schemes (i.e., functions that map profiles of (dichotomous) preferences on the set of outcomes to lotteries on the set of social states), with the follo...

Bargaining under Incomplete Information

Efficient Representation and Processing of Incomplete Information

Database systems often have to deal with incomplete information as the world they model is not always complete. This is a frequent case in data integration applications, scientific databases, or in scenarios where information is manually entered and contains errors or ambiguity. In the last couple of decades different formalisms have been proposed for representing incomplete information. These ...

Skill Formation under Incomplete Information

We consider an economic model of child development with multiple stages. Due to incomplete information, parents are not able to tailor their investments to their child's type when the child is young. We show that incomplete information weakens the importance of early investments in children when inter-stage investments are easily substitutable, but strengthens them when substitution is difficul...

Hedging Demands under Incomplete Information

I present a model of consumption and portfolio choice under market incompleteness and imperfect information regarding the investment opportunity set. I solve analytically the consumption and portfolio choice problem for an investor learning about the true state of the economy. When prices are the only observations, the previously unspanned state variables are spanned by the market securities un...