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A single-issue spatial election is a voter preference profile derived from an arrangement of candidates and voters on a line, with each voter preferring the nearer of each pair of candidates. We provide a polynomial-time algorithm that determines whether a given preference profile is a...
Persistent link: https://www.econbiz.de/10005746123
We provide geometric versions of finite, two-person games in the course of proving the following: if a finite, two-person, symmetric game is constant-sum, it is a location game. If it is not constant-sum, it is a location game with a reservation price. Every finite two-person game is a location...
Persistent link: https://www.econbiz.de/10005598476
This study of the wholesale electricity market compares the cost-minimizing performance of the auction mechanism currently in place in U.S. markets with the performance of a proposed replacement. The current mechanism chooses an allocation of contracts that minimizes a fictional cost calculated...
Persistent link: https://www.econbiz.de/10005800268
Persistent link: https://www.econbiz.de/10005821047
Authors of experimental, empirical, theoretical and computational studies of two-sided matching markets have recognized the importance of correlated preferences. We develop a general method for the study of the effect of correlation of preferences on the outcomes generated by two-sided matching...
Persistent link: https://www.econbiz.de/10005838955
Is it possible to be altruistic in the face of altruism? With a naive definition of altruism, the answer is no. If an altruistic consumer is defined to be one whose preferences over allocations satisfy an appropriate interdependence condition, then the answer is yes. However, altruism in the...
Persistent link: https://www.econbiz.de/10005838961
Men's and women's preferences are intercorrelated to the extent that men rank highly those women who rank them highly. Intercorrelation plays an important but overlooked role in determining outcomes of matching mechanisms. We study via simulation the effect of intercorrelated preferences on...
Persistent link: https://www.econbiz.de/10005838976
A single formula assigns a continuous utility function to every representable preference relation.
Persistent link: https://www.econbiz.de/10005839002
I show that every rule for dividing a dollar among three agents impartially (so that each agent's share depends only on her evaluation by her associates) underpays some agent by at least one-third of a dollar for some consistent profile of evaluations. I then produce an impartial division rule...
Persistent link: https://www.econbiz.de/10005839010
Two forms of continuity are defined for Pareto representations of preferences. They are designated continuity and coordinate continuity. Characterizations are given of those Pareto representable preferences that are continuously representable and, in dimension two, of those that are...
Persistent link: https://www.econbiz.de/10005839013