Related papers: Shared value economics: an axiomatic approach
Agents may form coalitions. Each coalition shares its endowment among its agents by applying a sharing rule. The sharing rule induces a coalition formation problem by assuming that agents rank coalitions according to the allocation they…
In complex systems, many different parts interact in non-obvious ways. Traditional research focuses on a few or a single aspect of the problem so as to analyze it with the tools available. To get a better insight of phenomena that emerge…
Several rules for social choice are examined from a unifying point of view that looks at them as procedures for revising a system of degrees of belief in accordance with certain specified logical constraints. Belief is here a social…
Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any…
Social evolutionary theory seeks to explain increases in the scale and complexity of human societies, from origins to present. Over the course of the twentieth century, social evolutionary theory largely fell out of favor as a way of…
This article develops the concept of the agentic economy and diagnoses its measurable preconditions: a transition in which economic action is increasingly distributed among humans, AI agents, industrial robots, executable protocols, compute…
In recent years, we have witnessed a remarkable surge of usage in shared vehicles in our cities. Shared mobility offers a future of no congestion in busy city roads with increasing populations of travelers, passengers, and drivers. Given…
We consider a monopolistic seller in a market that may be segmented. The surplus of each consumer in a segment depends on the price that the seller optimally charges, which depends on the set of consumers in the segment. We study which…
This paper introduces a novel framework for designing fair and sustainable unemployment benefits, grounded in cooperative game theory and real-time fiscal policy. The labor market is modeled as a coalitional game, where a random subset of…
The availability of vast amounts of data is changing how we can make medical discoveries, predict global market trends, save energy, and develop educational strategies. In some settings such as Genome Wide Association Studies or deep…
Many economic theories have been introduced over the course of history to articulate our understanding of the economy. Classical theories by Adam Smith and David Ricardo's Comparative Advantage have been foundational for the last century's…
An economy, large or small, has traditionally been defined in terms of an explicit set of agents and an assignment of characteristics to each agent. But when individual agents are negligible, most economically relevant properties of an…
Heterogeneity of economic agents is emphasized in a new trend of macroeconomics. Accordingly the new emerging discipline requires one to replace the production function, one of key ideas in the conventional economics, by an alternative…
The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is…
This paper aims at providing a comprehensive solution to the archaic open problem: how to define semantics of three-valued modal logic with vivid intuitive picture, convincing philosophical justification as well as versatile practical…
Financial institutions have to allocate so-called "economic capital" in order to guarantee solvency to their clients and counter parties. Mathematically speaking, any methodology of allocating capital is a "risk measure", i.e. a function…
We consider transferable-utility profit-sharing games that arise from settings in which agents need to jointly choose one of several alternatives, and may use transfers to redistribute the welfare generated by the chosen alternative. One…
In this paper we establish fundamental limits on the performance of knowledge sharing in opportunistic social net- works. In particular, we introduce a novel information-theoretic model to characterize the performance limits of knowledge…
Ecosystems enjoy increasing attention due to their flexibility and innovative power. It is well known, however, that this type of network-based economic governance structures occupies a potentially unstable position between the two stable…
This paper studies how to aggregate prosumers (or large consumers) and their collective decisions in electricity markets, with a focus on fairness. Fairness is essential for prosumers to participate in aggregation schemes. Some prosumers…