In his 1984 paper in Management Science, McEntire conjectured that all concave utility functions satisfy his independence-from-irrelevant-assets (IIA) property. This paper shows that this conjecture is false. The paper provides several families of utility functions, all of whose members violate...

The paper derives a closed form solution for the maximal surplus generated by the pivotal mechanism in the case of a binary public good. The formula may be used to compare the pivotal mechanism to other mechanisms. An illustration is provided to demonstrate how such a comparison may be made.

In this paper we consider a transportation system consisting of a carrier with capacity Q \le \infty , operating between two terminals. Passengers arrive at these terminals according to independent Poisson processes and are transported by the carrier from one terminal to the other terminal....