Showing papers in "Journal of Mathematical Economics in 2013"

TL;DR: In this article, a new characterization of the class of convex combinations of the Shapley value and the equal division solution is presented. But this characterization is restricted to TU-games.

TL;DR: In this paper, the authors introduce an alternative approach to preference modeling, which uses two binary relations (the necessary preference and the possible preference) to fulfill completeness and transitivity in a mixed form.

TL;DR: In this article, it is proved that every strategy-proof, peaks-only or unanimous, probabilistic rule defined over a minimally rich domain of single-peaked preferences is a probability mixture of strategyproof, peak-only, or unanimous deterministic rules over the same domain.

TL;DR: In this paper, the well-known swap distance (Kemeny, 1959; Kendall, 1938 and Hamming, 1950) is analyzed on weak preferences, and the same result can be achieved without the reducibility condition, which shows the Kemeny distance is much less demanding than it seems.

TL;DR: In this article, the existence of the α-core for an n-person game with incomplete information was studied, and an approximation argument was used to overcome the lack of concavity.

TL;DR: In this paper, the authors derive a feedback equilibrium of a dynamic Cournot game where production requires exploitation of a renewable asset and show that, when the asset stock grows sufficiently fast, the unique globally asymptotically stable steady state corresponds to the static Cournot solution.

TL;DR: In this article, Eichberger et al. showed that a conditional preference relation represented by the Choquet expected utility with respect to the updated capacity through the rule does not satisfy the axiom of conditional certainty equivalence consistency consistency.

TL;DR: In this paper, it was shown that in smooth Markovian continuous-time economies with potentially complete asset markets, Radner equilibria with endogenously complete markets exist.

TL;DR: In this paper, the essential supremum is defined as a subset of random variables satisfying some natural properties, and applications of the introduced notion to a hedging problem under transaction costs and set-valued dynamic risk measures are given.

TL;DR: In this paper, the authors consider a decision-maker facing prospects which cost c ( a ) and with distributions of returns y that depend on a, and show that the decision problem is concave if the primitive of the cdf of returns is jointly convex in a and y, a condition called Concavity of the Cumulative Quantile (CCQ) and which is satisfied by many common distributions.

TL;DR: In this article, it was shown that a variable population voting rule satisfies reinforcement if and only if it is a balance or scoring rule (with scores taking values in an abstract linearly ordered abelian group R).

TL;DR: In this paper, the authors study a particular class of reputation games and show that bounded memory may lead to permanent reputations, for a particular range of parameters, a bounded memory player may never be able to learn anything at all.

TL;DR: In this article, the authors study robustly efficient allocations in pure exchange economies and present an extension of their main result to an asymmetric information mixed economy whose commodity space is an ordered separable Banach space having an interior point in its positive cone.

TL;DR: In this paper, the authors study the application fee overreporting incentives of hospitals in centralized matching markets by assuming that interns have finite budgets to spend on such fees and show that no stable mechanism is immune to application fee manipulations.

TL;DR: In this article, the student-optimal stable mechanism is shown to satisfy converse consistency principles, namely local shift-freeness and local acyclicity on the priority structure.

TL;DR: In this article, a new concept of weak consistency, a generalization of acyclicity, is introduced as an immediate regret condition for variable preferences, expressed via a preference completeness condition which is equivalent to existence of aspiration points.

TL;DR: In this paper, a general result on the random selection of an element from an ordered sequence of risks is presented and used to derive additive and cross-risk apportionment, and the results derived in the present paper allow one to further explore the connections between the different concepts of risk application proposed so far in the literature.

TL;DR: In this paper, the authors study a price competition game in which customers are heterogeneous in the rebates they get from either of two firms and characterize the transition between competitive pricing without rebates, mixed strategy equilibrium (for intermediate rebates), and monopoly pricing (for larger rebates).

TL;DR: A necessary and sufficient condition for non-emptiness of the fuzzy core of a TU fuzzy game to have a non-empty fuzzy core is derived.

TL;DR: In this article, the concept of essential maximum is applied to the problem of super-replicating an American-type contingent claim under transaction costs, where the preferences are defined by countable semicontinuous multi-utility representations.

TL;DR: In this article, the authors analyzed the role of demographic changes in the economic development process by studying the transitional and the long-run impact of both the rate of population growth and the initial population size on the levels of per capita human capital and income.

TL;DR: In this article, the authors investigate the equilibrium growth dynamics of an economy whose production is based on natural resources and which seeks to maximize welfare to the local community by determining the optimal trajectories of consumption in the local area and the use of the environmental resource.

TL;DR: In this paper, the authors consider a model of interdependent efforts, with linear interaction and lower bound on effort, and examine the impact of a rise of cross-effects on aggregate efforts.

TL;DR: In this paper, the authors studied the steady state equilibrium in a bilateral matching market with ex ante investments at the market entry stage and showed that when market frictions become negligible, the market equilibrium approaches the Walrasian outcome.

TL;DR: In this article, a class of sets in R p with Hausdorff dimension at most p − 1 is introduced, where p is the dimension of a set in which no element is greater in all dimensions than any other.

TL;DR: In this paper, the authors construct an index theorem for smooth infinite economies that shows that generically the number of equilibria is odd and give conditions that guarantee global uniqueness of equilibrium.

TL;DR: In this article, the authors apply and elaborate a contractual approach to study economies with a production of public goods, which was developed in Marakulin (2003, 2011) for exchange economies; it is now modified and extended to the production economy.

TL;DR: The core and competitive equilibria of a large exchange economy on the commodity space l ∞ are discussed in this article, where the authors define the economy as a measure on the space of consumers' characteristics following Hart and Kohlberg (1974).

TL;DR: The authors characterize population monotonic and incentive compatible mechanisms which allocate an object efficiently and respect a welfare lower bound chosen in the fair allocation problem of allocating a collectively owned indivisible good or bad when monetary transfers are possible and preferences are private information.

TL;DR: A simple head-to-head voting scheme in which voters hold complete and transitive preferences over alternatives generates all binary relations on finite sets, which provides a measure of complexity for binary relations.