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In 1950 Arrow famously showed that there is no social welfare function satisfying four basic conditions. In 1976, on the other hand, Gibbard and Sonnenschein showed that there does exist a unique probabilistic social welfare method that…
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…
In our model, $n$ traders interact with each other and with a central bank; they are taxed on the money they make, some of which is dissipated away by corruption. A generic feature of our model is that the richest trader always wins by…
We consider a stylized formal model of public transportation, where a set of agents need to travel along a given road, and there is a bus that runs the length of this road. Each agent has a left terminal and a right terminal between which…
In this article, I present a new approach and a novel model to the study of the life cycle of wages. The key idea is that wage can be thought as remuneration paid for the competency. It is assumed with the approach that there are three…
A computational model for the distribution of wealth among the members of an ideal society is presented. It is determined that a realistic distribution of wealth depends upon two mechanisms: an asymmetric flux of wealth in trading…
The infrastructure upon which the functioning of society depends is composed of complex ecosystems of systems. Consequently, we must reason about the properties of such ecosystems, which requires that we construct models of them. There are…
It is still common wisdom amongst economists, politicians and lay people that economic growth is a necessity of our social systems, at least to avoid distributional conflicts. This paper challenges such belief moving from a purely physical…
The link between taxation and justice is a classic debate issue, while also being very relevant at a time of changing environmental factors and conditions of the social and economic system. Technologically speaking, there are three types of…
Although both systems analyzed are described through two theories apparently different (quantum mechanics and game theory) it is shown that both are analogous and thus exactly equivalents. The quantum analogue of the replicator dynamics is…
We study the production, entry, and technological decisions of firms in the presence of bribery. We find that bribery can be justified even in the absence of bureaucratic inefficiencies. We document substantial technology-specific…
We investigate the effect of tax evasion on the income distribution and the inequality index of a society through a kinetic model described by a set of nonlinear ordinary differential equations. The model allows to compute the global…
This paper finds near equilibrium prices for electricity markets with nonconvexities due to binary variables, in order to reduce the market participants' opportunity costs, such as generators' unrecovered costs. The opportunity cost is…
We study online combinatorial auctions with production costs proposed by Blum et al. using the online primal dual framework. In this model, buyers arrive online, and the seller can produce multiple copies of each item subject to a…
The potential impact of automation on the labor market is a topic that has generated significant interest and concern amongst scholars, policymakers, and the broader public. A number of studies have estimated occupation-specific risk…
One of the goals of causal inference is to generalize from past experiments and observational data to novel conditions. While it is in principle possible to eventually learn a mapping from a novel experimental condition to an outcome of…
In this study, the evolutionary development of labor has been tried to be revealed based on theoretical analysis. Using the example of gdp, which is an indicator of social welfare, the economic value of the labor of housewives was tried to…
This paper investigates the financial economics of simple periodic systems. Well-established financial procedures appear to be complicated, and lead to partially biased results. Probability theory is applied, and the focus is on the…
We settle the so-called degree conjecture for the separability of multipartite quantum states, which are normalized graph Laplacians, first given by Braunstein {\it et al.} [Phys. Rev. A \textbf{73}, 012320 (2006)]. The conjecture states…
Multilateral index numbers are often used to make claims about welfare, such as treating PPPs as cross-country costs of living or real incomes as indicators of living standards. However, such interpretations may not be consistent with the…