http://rcer.econ.rochester.edu/RCERPAPERS/rcer_578.pdf

Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: an update

Sharp increases in the price of oil are generally seen as a major contributor to business cycle asymmetries. Moreover, the very recent highs registered in the world oil market are causing concern about possible slowdowns in the economic performance of the most developed countries. While several authors have considered the direct channels of transmission of energy price increases, other authors have argued that the economic downturns arose from the monetary policy response to the inflation presumably caused by oil price increases. In this paper a structural cointegrated VAR model has been considered for the G-7 countries in order to study the direct effects of oil price shocks on output and prices and the reaction of monetary variables to external shocks. Empirical analysis shows that, for most of the countries considered, there seems to be an impact of unexpected oil price shocks on interest rates, suggesting a contractionary monetary policy response directed to fight inflation. In turn, increases in interest rates are transmitted to real economy by reducing output growth and the inflation rate.

/pdf/oil-prices-inflation-and-interest-rates-in-a-structural-3096w1i2ky.pdf

Oil Prices, Inflation and Interest Rates in a Structural Cointegrated VAR Model for the G-7 Countries

The main advances regarding the use of the Choquet and Sugeno integrals in multi-criteria decision aid over the last decade are reviewed. They concern mainly a bipolar extension of both the Choquet integral and the Sugeno integral, interesting particular submodels, new learning techniques, a better interpretation of the models and a better use of the Choquet integral in multi-criteria decision aid. Parallel to these theoretical works, the Choquet integral has been applied to many new fields, and several softwares and libraries dedicated to this model have been developed.

A decade of application of the Choquet and Sugeno integrals in multi-criteria decision aid

In this paper we review the existing empirical literature on price asymmetries in commodities, providing a way to classify and compare different studies which are highly heterogeneous in terms of econometric models, type of asymmetries and empirical findings. Relative to the previous literature, this paper is novel in several respects. First, it presents a detailed and updated survey of the existing empirical contributions on the existence of price asymmetries in the transmission mechanism linking input prices to output prices. Second, this paper presents an extension of the traditional distinction between long-run and short-run asymmetries to new categories of asymmetries, such as: contemporaneous impact, distributed lag effect, cumulated impact, reaction time, equilibrium and momentum equilibrium adjustment path, regime effect, regime equilibrium adjustment path. Third, each empirical study is critically discussed in the light of this new classification of asymmetries. Fourth, this paper evaluates the relative merits of the most popular econometric models for price asymmetries, namely autoregressive distributed lags, partial adjustments, error correction models, regime switching and vector autoregressive models.

/pdf/econometric-models-of-asymmetric-price-transmission-174s5m2x4x.pdf

Econometric Models of Asymmetric Price Transmission

This paper investigates empirically the determinants of individuals' attitudes towards preventing environmental damage in Spain using data from the World Values Survey and European Values Survey for the periods 1990, 1995 and 1999/2000 Compared to many previous studies, we present a richer set of independent variables and found that strongly neglected variables such as political interest and social capital have a strong impact on individuals' preferences to prevent environmental damage An interesting aspect in our study is the ability to investigate environmental preferences over time The results show strong differences over time Finally, using disaggregated data for Spanish regions, we also find significant regional differences

/pdf/the-determinants-of-individuals-attitudes-towards-preventing-3ah20jksge.pdf

The Determinants of Individuals' Attitudes Towards Preventing Environmental Damage

We define the canonical form of a cost spanning tree problem. The canonical form has the property that reducing the cost of any arc, the minimal cost of connecting agents to the source is also reduced. We argue that the canonical form is a relevant concept in this kind of problems and study a rule using it. This rule satisfies much more interesting properties than other rules in the literature. Furthermore we provide two characterizations. Finally, we present several approaches to this rule without using the canonical form.

/pdf/defining-rules-in-cost-spanning-tree-problems-through-the-2eeccymaby.pdf

Defining Rules in Cost Spanning Tree Problems Through the Canonical Form

We study minimum cost spanning tree problems and define a cost sharing rule that satisfies many more properties than other rules in the literature. Furthermore, we provide an axiomatic characterization based on monotonicity properties.

A fair rule in minimum cost spanning tree problems

https://vidalpuga.webs.uvigo.es/papers/rulecst.pdf

We study the problem of sharing the revenue from broadcasting sport events, among participating players. We provide direct, axiomatic and game-theoretical foundations for two focal rules: the equal-split rule and concede-and-divide. The former allocates the revenues generated from broadcasting each game equally among the participating players in the game. The latter concedes players in each game the revenues generated by their respective fans and divides equally the residual. We also provide an application studying the case of sharing the revenue from broadcasting games in La Liga, the Spanish Football League. We show that hybrid schemes, combining our rules with lower bounds and performance measures, yield close outcomes to the current allocation being implemented by the Spanish National Professional Football League Association.

/pdf/sharing-the-revenues-from-broadcasting-sport-events-5ef02j9s4p.pdf

Sharing the Revenues from Broadcasting Sport Events

We associate an optimistic TU game with each minimum cost spanning
tree problem.We define the worth of a coalition S as the cost of connecting
agents in S to the source assuming that agents in N\S are already connected to
the source, and agents in S can connect through agents in N\S. We study the
Shapley value of this new game.

/pdf/the-optimistic-tu-game-in-minimum-cost-spanning-tree-18cw7rawg1.pdf

Gustavo Bergantiños

Papers

Defining Rules in Cost Spanning Tree Problems Through the Canonical Form

A fair rule in minimum cost spanning tree problems

A fair rule in minimum cost spanning tree problems

Sharing the Revenues from Broadcasting Sport Events

The optimistic TU game in minimum cost spanning tree problems