Obvious Ex Post Equilibrium

Shengwu Li

American Economic Review, 2017, vol. 107, issue 5, 230-34

Abstract: I propose a new solution concept, obvious ex post (OXP) equilibrium. This is a formal standard of cognitive simplicity for mechanisms, in settings with interdependent values. Under some standard assumptions, the ascending auction has an efficient OXP equilibrium. I discuss a decision theoretic foundation for OXP mechanisms.

JEL-codes: C70 D44 D82 (search for similar items in EconPapers)
Date: 2017
Note: DOI: 10.1257/aer.p20171029
References: View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.aeaweb.org/articles?id=10.1257/aer.p20171029 (application/pdf)
https://www.aeaweb.org/articles/attachments?retrie ... 8ZoG7F6Ux-cT2lGyRijQ (application/pdf)
https://www.aeaweb.org/articles/attachments?retrie ... ry2FMYUok27miYdDQRtu (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:aecrev:v:107:y:2017:i:5:p:230-34

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

American Economic Review is currently edited by Esther Duflo

More articles in American Economic Review from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().