Rationality implies that adding 'irrelevant' and, in particular, inferior alternatives to the opportunity set cannot increase the choice probability of some other alternative. In this study, we propose a novel approach that can rationalize an intended addition of such alternatives because it...

In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In...

The merit of approval voting has been widely discussed in the past 25 years. The distinct property of this rule is the extent of flexibility it allows; any voter can approve as many alternatives/candidates as he wishes. Nevertheless, this advantage is the very reason for two drawbacks of...