A generalized envelope theorem is presented which has the Envelope Theorem as a special case. Relative to the Envelope Theorem, it provides greater flexibility in determining the rate of change of a value function with respect to one of its arguments. We revisit a classic result on economies of...

This paper investigates regulation by auctions of private supply of congestible infrastructures in two networks settings: 1) two serial facilities, where the consumer has to use both in order to consume; and 2) two parallel facilities that are imperfect substitutes. There are four market...

This paper investigates regulation by auctions of private supply of congestible infrastructures in two networks settings: 1) two serial facilities, where the consumer has to use both in order to consume; and 2) two parallel facilities that are imperfect substitutes. There are four market...

This paper investigates regulation by auctions of private supply of congestible infrastructures in two networks settings: 1) two serial facilities, where the consumer has to use both in order to consume; and 2) two parallel facilities that are imperfect substitutes. There are four market...

This paper investigates private supply of two congestible infrastructures that are serial, where the consumer has to use both in order to consume. Four market structures are analysed: a monopoly and 3 duopolies that differ in how firms interact. It is well known that private supply leads too...

This paper presents a novel axiomatic approach to measuring and comparing hierarchical structures. Hierarchies are fundamental across a range of disciplines – from ecology to organizational science – yet existing measures of hierarchical degree often lack systematic criteria for comparison....

Contemporary decision support systems are increasingly relying on artificial intelligence technology such as machine learning algorithms to form intelligent systems. These systems have human-like decision capacity for selected applications based on a decision rationale which cannot be looked-up...

Due to computational advances in the past decades, so-called intelligent systems can learn from increasingly complex data, analyze situations, and support users in their decision-making to address them. However, in practice, the complexity of these intelligent systems renders the user hardly...

Recent (de-)globalization tendencies and rising protectionist measures has created new interest in studying the effects of unilateral and world-wide tariffs. This paper contributes to this issue by taking into account that international transactions in goods and services increasingly take the...