We study the problem of how to allocate a set of indivisible objects like jobs or houses and an amount of money among a group of people as fairly and as efficiently as possible. A particular constraint for such an allocation is that every person should be assigned with the same number of objects...

In the real world many social and economic decisions have to be made with imperfect information and uncertainty. In the past two decades, economists and mathematicians have devoted a great deal of time and effort into the study of ambiguity and much progress has been made in modeling ambiguity....

We investigate pairwise stochastic comparisons of stationary solutions to the linear recurrence 𝑋𝑡+1=𝐴𝑡𝑋𝑡+𝐵𝑡 , where 𝐴𝑡 and 𝐵𝑡 are non-negative random variables. We establish novel order-preserving properties, which enable us to obtain comparison theorems...

We focus on the revealed preference conditions that characterize the collection of finite data sets that are consistent with the maximization of a weakly separable utility function. From a theoretical perspective, we show that verifying these revealed preference conditions is a difficult...

This study develops innovative measures of financial optimism by defining optimism as the overestimation of the favourable outcome in an individual's future financial situation. The paper finds that optimism has a positive influence on an individual's preference for risky portfolios and a...

A not-for-profit organization's reported ratio of expenditures on program services to total expenditures is a key performance metric for many donors, which may lead the manager of a not-for-profit organization to manipulate this ratio. This paper presents a theoretical model to examine when and...