POWRE: Supermodularity of Nash-Efficient Public Goods Mechanism: Theory and Experiments

该奖项将支持关于纳什效率公共产品机制动态稳定性的理论和实验研究。理论研究将围绕开发实现Lindahl分配的新的超模块Nash机制家族展开。这项实验研究将在实验室环境中与真实的人类受试者一起研究同一新机制家族的变种的稳定性。这些数据将使调查员能够研究机构/机制对由此产生的学习动力的影响，校准和比较不同学习规则的表现，并根据这些数据改进和改进现有的学习模式。以往关于Nash实现的理论工作主要集中在建立Nash均衡的静态性质上。少数例外一直使用特定的动态学习规则来研究不同机制的稳定性，如古诺最佳反应或梯度调节过程。基于前人的实验结果及其稳健的理论性质，研究者建议使用超模性作为纳什有效机制的一个合理的稳定性判据。这为执行理论提供了一个新的视角，为公共产品机制文献的研究做出了贡献。新的机制族将是第一个实现Lindahl分配的纳什有效的公共产品机制，并且具有稳健的稳定性。这项实验研究将有助于正在进行的关于学习和实施的研究。PI是一名助理教授，他正处于建立机构设计理论和实验研究相结合的职业生涯的早期阶段。她在密歇根读了四年，在那里很难获得经济学领域的终身教职。POWRE奖将在她职业生涯的关键阶段提供帮助。

This award will support a theoretical and experimental study on the dynamic stability of Nash-efficient public goods mechanisms. The theoretical investigation will evolve around developing a new family of supermodular Nash mechanisms that implement Lindahl allocations. The experimental research will study the stability of variants from the same new family of mechanisms in a laboratory setting with real human subjects. The data will enable the investigator to study the effects of institutions/mechanisms on the resulting learning dynamics adopted, to calibrate and compare the performance of different learning rules, and to refine and improve on existing learning models in light of the data. Previous theoretical work on Nash implementation has mainly focused on establishing the static properties of Nash equilibria. The few exceptions have been using specific dynamic learning rules to study the stability of different mechanisms, such as Cournot best response or the gradient adjustment process. Based on previous experimental findings and its robust theoretical properties, the investigator proposes to use supermodularity as a reasonable stability criterion for Nash-efficient mechanisms. This provides a fresh perspective on implementation theory and contributes to the public goods mechanism literature. The new family of mechanisms will be the first Nash-efficient public goods mechanisms which implement Lindahl allocations and also have a robust stability property. The experimental study will contribute to the ongoing research on learning and implementation. The PI is an assistant professor who is in an early stage of building up a career that combines theoretical and experimental research in mechanism design. She is in her fourth year at Michigan where tenure in the field of economics is difficult to achieve. The POWRE award will assist her at a critical career stage.