This paper studies how to form an efficient coalition—a group of people. More specifically, we compare two mechanisms for forming a coalition by running laboratory experiment and reveal which mechanism leads higher social surplus. In one setting, invite the subjects join meeting simultaneously, so they cannot know other subjects’ decisions. ask them sequentially, allows each subject his or her ...

Let S be a rational projective surface given by means of parametrization whose base locus satisfies mild assumption. In this paper we present an algorithm that provides three maps f,g,h:A2⇢S⊂Pn such the union images covers S. As consequence, second generates two f,g˜:A2⇢S, its affine S∩An. case, number involved in cover is general optimal.

Abstract This article refines a foundational tenet of rational choice theory known as the principle description invariance. Attempts to apply this human agents with imperfect knowledge have paid insufficient attention two aspects: first, agents’ epistemic situations, i.e. whether and when they recognize alternative descriptions an object be equivalent; second, individuation objects description,...

We undertook the first market trading experiments that allowed heterogeneously informed subjects to trade in endogenous time, collecting over 2000 observed trades. Subjects’ decisions were generally in line with the predictions of exogenous-time financial herding theory when that theory is adjusted to allow rational informational herding and contrarianism. While herding and contrarianism did no...

T h e preface paradox strikes us as puzzling because we feel that if a person holds a set of inconsistent beliefs, i.e. beliefs such that at least one of them must be incorrect, then he should give at least one of them up. Equally, if a person’s belief is rational, then he has a right to hold it. Yet the preface example is prima facie a case in which a person holds an inconsistent set of belief...

Although they can be topologically different, two distinct transducers may actually recognize the same rational relation. Being able to test the equivalence of transducers allows to implement such operations as incremental minimization and iterative composition. This paper presents an algorithm for testing the equivalence of deterministic weighted finite-state transducers, and outlines an imple...