Related papers: The Core in a Distributional Economy

For Adam Smith, wealth was related to the division of labor. As people and firms specialize in different activities, economic efficiency increases, suggesting that development is associated with an increase in the number of individual…

Data regulations increasingly enable consumers to switch among market segments, making segmentation an endogenous outcome of strategic interaction. We study a model in which consumers choose segments before a monopolist sets…

Coalition Logic is a central logic in logical research on strategic reasoning. In a recent paper, Li and Ju argued that generally, models of Coalition Logic, concurrent game models, have three too strong assumptions: seriality, independence…

Statistics of drawdowns (loss from the last local maximum to the next local minimum) plays an important role in risk assessment of investment strategies. As they incorporate higher ($>$ two) order correlations, they offer a better measure…

We model the dynamics of social structure by a simple interacting particle system. The social standing of an individual agent is represented by an integer-valued fitness that changes via two offsetting processes. When two agents interact…

We provide a mechanistic foundation for economic complexity methods. In our model, an economy's ability to produce an activity depends on the joint presence of required capabilities. We analytically derive the Economic Complexity Index…

We study the distributions of money in a simple closed economic system for different types of monetary transactions. We know that for arbitrary and random sharing but locally conserving money transactions, the money distribution goes to the…

Border's theorem gives an intuitive linear characterization of the feasible interim allocation rules of a Bayesian single-item environment, and it has several applications in economic and algorithmic mechanism design. All known…

We develop a general framework for incorporating distributional preferences in market design. We identify the structural properties of these preferences that guarantee the path independence of choice rules. In decentralized settings, a…

Autonomous AI agents capable of complex planning and action mark a shift beyond today's generative tools. As these systems enter political and economic life, who can access them, how capable they are, and how many can be deployed will shape…

We offer a search-theoretic model of statistical discrimination, in which firms treat identical groups unequally based on their occupational choices. The model admits symmetric equilibria in which the group characteristic is ignored, but…

We study the problem of fairly allocating indivisible goods to groups of agents. Agents in the same group share the same set of goods even though they may have different preferences. Previous work has focused on unanimous fairness, in which…

This paper proposes the Potluck Problem as a model for the behavior of independent producers and consumers under standard economic assumptions, as a problem of resource allocation in a multi-agent system in which there is no explicit…

In the usual models of cooperative game theory, the outcome of a coalition formation process is either the grand coalition or a coalition structure that consists of disjoint coalitions. However, in many domains where coalitions are…

Economists often define the middle class based on income distribution, yet selecting which segment constitutes the `middle' is essentially arbitrary. This paper proposes a definition of the middle class based solely on the properties of…

The sharing of scarce resources among multiple rational agents is one of the classical problems in economics. In exchange economies, which are used to model such situations, agents begin with an initial endowment of resources and exchange…

Exponential distribution is ubiquitous in the framework of multi-agent systems. An alternative approach with an economic motivation to derive the exponential distribution in the framework of iterations in the space of distributions is…

Sortition is based on the idea of choosing randomly selected representatives for decision making. The main properties that make sortition particularly appealing are fairness -- all the citizens can be selected with the same probability --…

We study the problem of allocating homogeneous and indivisible objects among agents with money. In particular, we investigate the relationship between egalitarian-equivalence (Pazner and Schmeidler, 1978), as a fairness concept, and…

In standard fair division models, we assume that all agents are selfish. However, in many scenarios, division of resources has a direct impact on the whole group or even society. Therefore, we study fair allocations of indivisible items…