Allocation rules for a commonly owned technology: the average cost lower bound

Article Abstract:

Compatibilities and incompatibilities between average cost equilibrium allocation requirements and traditional requirements are examined. Moreover, Mas-Colell's constant returns equivalent allocation rule is studied by combining technological monotonicity or contraction independence. Average cost equilibrium requires that agents should be well off at a selected allocation as well as at the preferred average cost equilibrium of agents.

Analysis, Equilibrium (Economics), Cost (Economics), Costs (Economics)

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A characterization of the Shapley value in queueing problems

Article Abstract:

The rule assigning positions in the queue and compensations corresponding to the payoffs recommended by the Shapely value of the associated cooperative game, is characterized. A property of independence with respect to increase in some agents' impatience, and an equal responsibility property is used.

Models, Queuing theory, Management games

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A behavioral characterization of plausible priors

Article Abstract:

A robust behavioral foundation for interpretation of statistical decision theories is presented.

Usage, Criticism and interpretation, Robust statistics, Robustness (Statistics), Statistical decision, Statistical decision theory

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