allocation power to distribute benefits from the public good in a way that motivates people to contribute. Re-allocating team …

averse, there is a core imputation given by means of shadow prices on state-dependent claims. Like in finance, a risk can … emphasis on incompleteness. Included is a process of bilateral trade which converges to a price-supported core allocation. …Exchange of risks is considered here as a transferable-utility cooperative game. When the concerned agents are risk …

We examine how the tail risk of currency returns over the past 20 years were impacted by central bank (monetary and … effects last for up to 1 month, and are proportionally higher for joint QE actions. This cross-border source of tail risk is …

-correlated returns. Any such project stabilizes the aggregate proceeds. Therefore, given widespread risk exposure and aversion, that … scale such games are quite tractable in analysis, computation, and realization. A core imputation comes in terms of …

The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a … incentive compatible core can be empty, even if utility functions are quasi-linear. If, in addition to quasi-linearity, further … assumptions are made (like independent private values), the non-emptiness of the core follows nevertheless from d'Aspremont and …