Now showing items 1-20 of 521

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    Externalities and the nucleolus 

    Alvarez-Mozos, Mikel; Ehlers, Lars (2017-09)
    In most economic applications, externalities prevail: the worth of a coalition depends on how the other players are organized. We show that there is a unique natural way of extending the nucleolus from (coalitional) games ...
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    Relative Nash welfarism 

    Sprumont, Yves (2017-09)
    Relative Nash welfarism is a solution to the problem of aggregating von Neumann-Morgenstern preferences over a set of lotteries. It ranks such lotteries according to the product of any collection of 0-normalized von ...
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    Strategyproof Choice of Acts : Beyond Dictatorship 

    Bahel, Éric; Sprumont, Yves (2017-05)
    We model social choices as acts mapping states of nature to (public) outcomes. A social choice function (or SCF) assigns an act to every profile of subjective expected utility preferences over acts. A SCF is strategyproof ...
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    (Il)legal Assignments in School Choice 

    Ehlers, Lars; Morrill, Thayer (2017-05)
    In public school choice, students with strict preferences are assigned to schools. Schools are endowed with priorities over students. Incorporating different constraints from applications, priorities are often modeled as ...
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    Assigning Refugees to Landlords in Sweden: Stable Maximum Matchings 

    Andersson, Tommy; Ehlers, Lars (2016-12)
    The member states of the European Union received 1.2 million first time asylum applications in 2015 (a doubling compared to 2014). Even if asylum will be granted for many of the refugees that made the journey to Europe, ...
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    Pareto Dominance of Deferred Acceptance through Early Decision 

    Bonkoungou, Somouaoga (2016-08)
    An early decision market is governed by rules that allow each student to apply to (at most) one college and require the student to attend this college if admitted. This market is ubiquitous in college admissions in the ...
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    Strategy-proof choice of acts : a preliminary study 

    Sprumont, Yves (2016-06)
    We model social choices as acts mapping states of the world to (social) outcomes. A (social choice) rule assigns an act to every profile of subjective expected utility preferences over acts. A rule is strategy-proof if no ...
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    Ordinally consistent tournament solutions 

    Sprumont, Yves (2016-03)
    A set ranking method assigns to each tournament on a given set an ordering of the subsets of that set. Such a method is consistent if (i) the items in the set are ranked in the same order as the sets of items they beat and ...
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    Continuity and Incentive Compatibility in Cardinal Voting Mechanisms 

    Ehlers, Lars; Majumdar, Dipjyoti; Mishra, Debasis; Sen, Arunava (2016-03)
    We show that every cardinal incentive compatible voting mechanism satisfying a continuity condition, must be ordinal. Our results apply to many standard models in mechanism design without transfers, including the standard ...
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    Ranking by rating 

    Sprumont, Yves (2016-02)
    Each item in a given collection is characterized by a set of possible performances. A (ranking) method is a function that assigns an ordering of the items to every performance profile. Ranking by Rating consists in evaluating ...
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    Agendas in legislative decision-making 

    Horan, Sean (2016-02)
    Despite the wide range of agendas used in legislative decision-making, the literature has focused almost exclusively on two stylized formats, the so-called Euro-Latin and Anglo-American agendas. As emphasized by Ordeshook ...
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    Liquidity traps, capital flows 

    Acharya, Sushant; Bengui, Julien (2015-12-17)
    Motivated by debates surrounding international capital flows during the Great Recession, we conduct a positive and normative analysis of capital flows when a region of the global economy experiences a liquidity trap. Capital ...
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    A simple model of two-stage choice 

    Horan, Sean (2015-12)
    I provide choice-theoretic foundations for a simple two-stage model, called transitive shortlist methods, where choices are made by sequentially by applying a pair of transitive preferences (or rationales) to eliminate ...
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    Nonparametric estimation of the leverage effect: a trade-off between robustness and efficiency 

    Kalnina, Ilze; Xiu, Dacheng (2015-11-22)
    We consider two new approaches to nonparametric estimation of the leverage effect. The first approach uses stock prices alone. The second approach uses the data on stock prices as well as a certain volatility instrument, ...
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    Should a non-rival public good always be provided centrally? 

    Gravel, Nicolas; Poitevin, Michel (2015-11-06)
    This paper discusses the problem of optimal design of a jurisdiction structure from the view point of a utilitarian social planner when individuals with identical utility functions for a non-rival public good and private ...
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    On the individual optimality of economic integration 

    Castro, Rui; Koumtingué, Nelnan (2015-11)
    Which countries find it optimal to form an economic union? We emphasize the risk-sharing benefits of economic integration. Consider an endowment world economy model, where international financial markets are incomplete and ...
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    Inference for nonparametric high-frequency estimators with an application to time variation in betas 

    Kalnina, Ilze (2015-07-24)
    We consider the problem of conducting inference on nonparametric high-frequency estimators without knowing their asymptotic variances. We prove that a multivariate subsampling method achieves this goal under general ...
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    Cross-sectional dependence in idiosyncratic volatility 

    Kalnina, Ilze; Tewou, Kokouvi (2015-07)
    This paper introduces a framework for analysis of cross-sectional dependence in the idiosyncratic volatilities of assets using high frequency data. We first consider the estimation of standard measures of dependence in the ...
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    Welfare criteria from choice: the sequential solution 

    Horan, Sean; Sprumont, Yves (2015-01)
    We study the problem of deriving a complete welfare ordering from a choice function. Under the sequential solution, the best alternative is the alternative chosen from the universal set; the second best is the one chosen ...
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    Object allocation via deferred-acceptance: strategy-proofness and comparative statics 

    Ehlers, Lars; Klaus, Bettina (2014-12)
    We study the problem of assigning indivisible and heterogenous objects (e.g., houses, jobs, offices, school or university admissions etc.) to agents. Each agent receives at most one object and monetary compensations are ...