When Efficiency Requires Arbitrary Discrimination: Theoretical and Experimental Analysis of Equilibrium Selection
Institutions may rely on fundamental principles, e.g., of legal philosophy, but may also have evolved according to institutional fitness, as gauged by a society’s well-being. In our stylized framework where two fundamental principles, equality and efficiency, conflict with each other, one of the thr...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2023-09-01
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| Series: | Games |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2073-4336/14/5/65 |