Related papers: Key drivers of EU budget allocation: Does power ma…
The increasing transmission capacity needs in a future energy system raise the question how associated costs should be allocated to the users of a strengthened power grid. In contrast to straightforward oversimplified methods, a flow…
We go into the need for, and the requirements on, a formal theory of budgets. We present a simple algebraic theory of rational budgets, i.e., budgets in which amounts of money are specified by functions on the rational numbers. This theory…
Renewable electricity generation has grown significantly across many European power systems, leading to a greener energy mix, but also additional complexity in balancing electricity supply and demand. Unexpected differences between…
This paper revisits the limitations of the Median Voter Theorem and introduces a novel framework to analyze the optimal economic ideological positions of political parties. By incorporating Nash equilibrium, we examine the mechanisms and…
This paper uses firm-level data recorded in the AMADEUS database to investigate the distribution of labour productivity in different European countries. We find that the upper tail of the empirical productivity distributions follows a…
We introduce a family of normative principles to assess fairness in the context of participatory budgeting. These principles are based on the fundamental idea that budget allocations should be fair in terms of the resources invested into…
Pricing schemes are an important smart grid feature to affect typical energy usage behavior of energy users (EUs). However, most existing schemes use the assumption that a buyer pays the same price per unit of energy to all suppliers at any…
Multivariate linear regression models suggest a trade-off in allocations of national R&D investments. Government funding, and spending in the higher education sector, seem to encourage publications, whereas other components such as…
Given a system where the real-valued states of the agents are aggregated by a function to a real-valued state of the entire system, we are interested in the influence or importance of the different agents for that function. This generalizes…
This research aims to provide an overview of the existing inequalities and their drivers in the member states of the European Union as well as their developements in the 2002-2008 and 2009- 2015 sub-periods. It also analyses the impact of…
The paper applies some recent developments of network analysis in order to perform a comparative study of EU countries in relation with the fluctuations of some macroeconomic indicators. The statistical distances between countries,…
Whether a scientific paper is cited is related not only to the influence of its author(s) but also to the journal publishing it. Scientists, either proficient or tender, usually submit their most important work to prestigious journals which…
We provide a library of participatory budgeting data (Pabulib) and open source tools (Pabutools and Pabustats) for analysing this data. We analyse how the results of participatory budgeting elections would change if a different selection…
Under a generalized skew normal distribution we consider the problem of European option pricing. Existence of the martingale measure is proved. An explicit expression for a given European option price is presented in terms of the cumulative…
As countries develop, the relative importance of agriculture declines and economic activity becomes spatially concentrated. We develop a model integrating structural change and regional disparities to jointly capture these phenomena. A key…
Social Security and other public policies can be viewed as a series of cash in and outflows that depend on parameters such as the age distribution of the population and the retirement age. Given forecasts of these parameters, policies can…
Participatory budgeting is a democratic approach to deciding the funding of public projects, which has been adopted in many cities across the world. We present a survey of research on participatory budgeting emerging from the computational…
This article expands Milton Friedman's spending matrix to analyse 'spending efficiency' and 'preference compatibility' across different economic systems against five key outcome criteria. By generalising Friedman's typology, it compares…
Policymakers often face the decision of how to allocate resources across many different policies using noisy estimates of policy impacts. This paper develops a framework for optimal policy choices under statistical uncertainty. I consider a…
In recent years, enlargement of the European Union has led to increased interest in the allocation of voting weights to member states with hugely differing population numbers. While the eventually agreed voting scheme lacks any strict…