← Search

Obvious Ex Post Equilibrium

Shengwu Li

Harvard Society of Fellows, 78 Mount Auburn Street, Cambridge, MA 02138 (e-mail: )

American Economic Review 2017

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.

DOI
10.1257/aer.p20171029
Volume
107 (5)
Pages
230-234
Language
en
Export
BibTeX
Sources
openalex crossref