Abstract

The paper is devoted to the investigation of intuitively rational choice in a hierarchical game that is a model of election by open sequential veto-voting. Casting a veto against voter’s least preferred alternative (among remaining ones) may not lead to a sophisticated equilibrium. It means that sincere choice (being intuitive) is not rational. There arises the problem of finding conditions under which a sophisticated optimal sequence of actions is intuitively rational. We prove that in the case of strict preference ordering of alternatives, there exists an intuitively rational sophisticated optimal sequence. In the sequence, each voter vetoes an alternative less preferred than the sophisticated equilibrium outcome. Thus, only intuitively rational strategies are to be considered, although complete information about voters’ preferences is still needed.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.