Voting power in voting situations is measured by the probability of changing decisions by altering the cast 'yes' or 'no' votes. Recently this analysis has been extended by strategic abstention. Abstention, just as 'yes' or 'no' votes can change decisions. This theory is often applied to...

Measuring risk can be axiomatized by the concept of coherent measures of risk. A risk environment specifies some individual portfolios' realization vectors and a coherent measure of risk. We consider sharing the risk of the aggregate portfolio by studying transferable utility cooperative games:...

We consider the problem of axiomatizing the Shapley value on the class of assignment games. We first show that several axiomatizations of the Shapley value on the class of all TU-games do not characterize this solution on the class of assignment games by providing alternative solutions that...

Coherent measures of risk defined by the axioms of monotonicity, subadditivity, positive homogeneity, and translation invariance are recent tools in risk management to assess the amount of risk agents are exposed to. If they also satisfy law invariance and comonotonic additivity, then we get a...

Regional unemployment and non-participation rates are higher, more disperse, and more stable in Europe than in the U.S. This paper helps understand what may cause this phenomenon. Specifically, it looks at the role of migration in regional differences. I analyze the adjustment mechanisms of...

The transformed-data maximum likelihood estimation (MLE) method for struc- tural credit risk models developed by Duan (1994) is extended to account for the fact that observed equity prices may have been contaminated by trading noises. With the presence of trading noises, the likelihood function...

Emerging economies in the CEE/NIS region – faced with a number of similar or same challenges when trying to find their new role in the changing international settings, while still characterised by their own distinct level of socio-economic development, set of institutions, culture and norms...

This paper explores the evolution of rural policies in EU, making some comparisons with CEE rurality. In the first chapter I explore some theoretical concepts on how policies are transferred from one country to another, what a policy paradigm means and how it might change over time with special...