Related papers: Minimum Wages and Optimal Redistribution
Designing mechanisms that leverage cooperation between agents has been a long-lasting goal in Multiagent Systems. The task is especially challenging when agents are selfish, lack common goals and face social dilemmas, i.e., situations in…
When selfish users share a road network and minimize their individual travel costs, the equilibrium they reach can be worse than the socially optimal routing. Tolls are often used to mitigate this effect in traditional congestion games,…
In this paper we study the simultaneous problems of food waste and hunger in the context of the possible solution of food (waste) rescue and redistribution. To this end, we develop an empirical model that can be used in Monte Carlo…
We take an axiomatic approach to study redistribution problems when agents report income and needs. We formalize axioms reflecting ethical and operational principles such as additivity, impartiality and individual rationality. Different…
We consider the relationship between economic activity and intervention, including monetary and fiscal policy, using a universal dynamic framework. Central bank policies are designed for growth without excess inflation. However,…
The question of "Justice" still divides social research and moral philosophy. Several Theories of Justice and conceptual approaches compete here, and distributive justice remains a major societal controversy. From an evolutionary point of…
The aim of this work is to establish the personal income distribution from the elementary constituents of a free market; products of a representative good and agents forming the economic network. The economy is treated as a self-organized…
Existing research on the static effects of the manipulation of welfare program benefit parameters on labor supply has allowed only restrictive forms of heterogeneity in preferences. Yet preference heterogeneity implies that the marginal…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…
In 2015, Germany introduced a national minimum wage. While the literature agrees on at most limited negative effects on the overall employment level, we go into detail and analyze the impact on the working hours dimension and on the subset…
We study economies where consumers interact independently with many monopolists. When consumer valuations over goods are correlated, correlation can distort the induced distribution of consumer surplus (information rents). We identify which…
Despite the plethora of financial services and products on the market nowadays, there is a lack of such services and products designed especially for the low-wage population. Approximately 30% of the U.S. working population engage in…
The distribution of wealth among the members of a society is herein assumed to result from two fundamental mechanisms, trade and investment. An empirical distribution of wealth shows an abrupt change between the low-medium range, that may…
We introduce and discuss optimal control strategies for kinetic models for wealth distribution in a simple market economy, acting to minimize the variance of the wealth density among the population. Our analysis is based on a finite time…
The excessive compensation packages of CEOs of U.S. corporations in recent years have brought to the foreground the issue of fairness in economics. The conventional wisdom is that the free market for labor, which determines the pay…
Assignment games represent a tractable yet versatile model of two-sided markets with transfers. We study the likely properties of the core of randomly generated assignment games. If the joint productivities of every firm and worker are…
Labor market tightness tremendously increased in Germany between 2012 and 2022. We analyze the effect of tightness on wages by combining social security data with unusually rich information on vacancies and job seekers. Instrumental…
Master-worker distributed computing systems use task replication in order to mitigate the effect of slow workers, known as stragglers. Tasks are grouped into batches and assigned to one or more workers for execution. We first consider the…
The era of technological change entails complex patterns of changes in wages and employment. We develop a unified framework to evaluate the effects of capital-embodied technological change on, as well as the contributions of factor inputs…
The effective use of limited resources for controlling spreading processes on networks is of prime significance in diverse contexts, ranging from the identification of "influential spreaders" for maximizing information dissemination and…