We consider the classic cake-divison problem when the cake is a heterogeneous good represented by an interval in the real line. We provide a mechanism to implement, in an anonymous way, an envy-free and efficient allocation when agents have private information on their preferences. The mechanism...

We consider the classic cake-division problem when the cake is a heterogeneous good represented by an interval in the real line. We provide a mechanism to implement, in an anonymous way, an envy-free and efficient allocation when agents have private information on their preferences. The...

In a simple model of one public good producible from one input, we show that unit-by-unit cost-sharing rules have two properties. First, a unit-by-unit cost-sharing rulealways chooses a core allocation. Second, every allocation in the core will be chosen by at least one unit-by-unit cost-shring...

Jackson and Moulin (1992) proposed a simple mechanism to implement a wide class of cost-sharing rules for the provision of a binary public good. Bag (1997) generalized this mechanism to divisible public goods under the assumption of "constant marginal benefit." This paper generalizes the...

The functional coefficient regression models assume that the regression coefficients vary with some "threshold" variable, providing appreciable flexibility in capturing the underlying dynamics in data and avoiding the so-called "curse of dimensionality" in multivariate nonparametric estimation....

Nonparametric quantile regression with multivariate covariates is a difficult estimation problem due to the "curse of dimensionality". To reduce the dimensionality while still retaining the flexibility of a nonparametric model, we propose modeling the conditional quantile by a single-index...

Corporate bankruptcy prediction plays a central role in academic finance research, business practice, and government regulation. Consequently, accurate default probability prediction is extremely important. We propose to apply a discrete transformation family of survival models to corporate...

State Medicaid programmes generally have been able to obtain relief from high drug prices following patent expirations for many branded-drug medications by adjusting reimbursement following the expanded competition in the pharmaceutical market. </AbstractSection> Copyright Springer International Publishing...