We study decentralized trade processes in general exchange economies and house allocation problems with and without money. The processes are affected by persistent random shocks stemming from agents' maximization of random utility. By imposing structure on the utility noise term--logit...

Using only ordinal axioms, we characterize several multigroup school segregation indices: the Atkinson indices for the class of school districts with a given fixed number of ethnic groups and the Mutual Information index for the class of all districts. Properties of other school segregation...

We study a combinatorial variant of the classical principal-agent model. In our setting a principal wishes to incentivize a team of strategic agents to exert costly effort on his behalf. Agentsʼ actions are hidden and the principal observes only the outcome of the team, which depends...

A class of voting procedures based on repeated ballots and elimination of one candidate in each round is shown to always induce an outcome in the top cycle and is thus Condorcet consistent, when voters behave strategically. This is an important class as it covers multi-stage, sequential...