Topics in Dynamics, Competition, Contracts, and Voting

Institute For Advanced Study, Princeton NJ

Investigators

Abstract

The project is a continuation of research on dynamic models (studying the strategic interaction of agents over time, and also studying how changes in the distribution of workers' skills over time might influence and be influenced by the distribution of wages associated with those skills); competitive models (studying the problem of designing selling procedures - auctions - that ensure that the good or goods being sold end up in the hands of the buyers who value them the most, and also studying the role of monetary policy in achieving a desirable equilibrium outcome); contracts and implementation (studying how the inability to make accurate forecasts affects the nature of optimal contracts between agents); and voting (examining which voting rules satisfy desirable properties such as anonymity, neutrality, transitivity, and Pareto efficiency on the widest possible class of domains of preferences).