Farsighted stability with heterogeneous expectations
Francis Bloch
(1, 2)
,
Anne van den Nouweland
(3)
Francis Bloch
- Fonction : Auteur
- PersonId : 743522
- IdHAL : francis-bloch
- IdRef : 131891502
Résumé
This paper analyzes farsighted stability when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying the two properties of justifiability and maximality and define stable alternatives as unique stationary points of the expectation function of some agent. We characterize stable alternatives in one-to-one matching models and voting models, and show that the relaxation of the hypothesis of common expectations greatly expands the set of states that can be supported as farsightedly stable.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Farsighted stability with heterogeneous expectations
|
Résumé |
en
This paper analyzes farsighted stability when agents have heterogeneous expectations over the dominance paths. We consider expectation functions satisfying the two properties of justifiability and maximality and define stable alternatives as unique stationary points of the expectation function of some agent. We characterize stable alternatives in one-to-one matching models and voting models, and show that the relaxation of the hypothesis of common expectations greatly expands the set of states that can be supported as farsightedly stable.
|
Auteur(s) |
Francis Bloch
1, 2
, Anne van den Nouweland
3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
University of Oregon [Eugene]
( 25841 )
- 1585 E 13th Ave.
Eugene, OR 97403
- États-Unis
|
Public visé |
Scientifique
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2020-05
|
Volume |
121
|
Page/Identifiant |
32-54
|
Mots-clés (JEL) |
|
Domaine(s) |
|
Mots-clés |
en
Farsighted stable sets, Heterogeneous expectations, One-to-one matching, Voting, Effectivity functions
|
DOI | 10.1016/j.geb.2020.02.001 |
UT key WOS | 000528252000002 |
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