Normative Aspects of Kantian Equilibrium

Kantian Equilibrium By

Consider a game whose strategies are “contributions”. A strategy profile is a Kantian equilibrium if no player would like all players to alter their contributions by the same multiplicative factor. Kantian equilibria are Pareto efficient. We characterize the allocation rules on several domains of environments that can be implemented as Kantian equilibria. The concept unifies the proportional so...

Normative and Descriptive Aspects of Decision Making

The problems of human behavior in decision processes are central in this chapter. The gaps between the requirements of decision methods and the possibilities of human information processing systems are analyzed. The qualitative model describing the decision maker’s behavior is proposed. The model defines the guidelines for the construction of decision methods justified from behavior point of vi...

Evolution and Kantian morality

Normative Properties of Stock Market Equilibrium with Moral Hazard

This paper presents a model of stock market equilibrium with a finite number of corporations and studies its normative properties. Each firm is run by a manager whose effort is unobservable and influences the probabilities of the firm’s outcomes. The Board of Directors of each firm chooses an incentive contract for the manager which maximizes the firm’s market value. With a finite number of fir...

The Gauge Invariant Effective Potential: Equilibrium and Non-equilibrium Aspects

We propose a gauge invariant formulation of the effective potential in terms of a gauge invariant order parameter, for the Abelian Higgs model. The one-loop contribution at zero and finite temperature is computed explicitly, and the leading terms in the high temperature expansion are obtained. The result is contrasted to the effective potential obtained in several covariant gauge-fixing schemes...