It is often presumed that Gini coefficient values taken to reflect high income inequality are largely due to some combination of socioeconomic factors that gives rise to inequality of opportunities. We demonstrate, using computer simulations, that practically every Gini value within the entire...

Analytic Hierarchy Process (AHP) is one of the most popular multi-attribute decision aid methods. However, within AHP, there are several competing preference measurement scales and aggregation techniques. In this paper, we compare these possibilities using a decision problem with an inherent...

Cooperation in real-world dilemmas takes many forms. We introduce a class of two-player games that permits two distinct ways to cooperate in the repeated game. One way to cooperate is to play cutoff strategies, which rely solely on a player's private value to defection. The second cooperative...

Sometimes cooperation between two parties requires exactly one to cede to the other. If the decisions whether to cede are made simultaneously, then neither or both may acquiesce leading to an inefficient outcome. However, inefficiency may be avoided if a party can wait to see what the other...

We study first- and second-price private value auctions with sequential bidding where second movers may discover the first movers bids. There is a unique equilibrium in the first-price auction and multiple equilibria in the second-price auction. Consequently, comparative statics across price...