In a distribution problem, and specifically in bankruptcy issues, the Proportional (P) and theEgalitarian (EA) divisions are two of the most popular ways to resolve the conflict. TheConstrained Equal Awards rule (CEA) is introduced in bankruptcy literature to ensure that noagent receives more...

How should scholarships be distributed among the (public) higher education students? We raise thissituation as a redistribution problem. Following the approach developed in Fleurbaey (1994) andBossert (1995), redistribution should be based on the notion of solidarity and it re-allocates...

Choice functions on tournaments always select the maximal element (Condorcet winner), provided they exist, but this property does not hold in the more general case of weak tournaments. In this paper we analyze the relationship between the usual choice functions and the set of maximal elements in...

The article proposes a new algorithm for adjusting correlation matrices and for comparison with Finger's algorithm, which is used to compute Value-at-Risk in RiskMetrics for stress test scenarios. The solution proposed by the new methodology is always better than Finger's approach in the sense...

On analyzing the problem that arises whenever the set of maximal elements is large, and aselection is then required (see Peris and Subiza, 1998), we realize that logical ways of selectingamong maximals violate the classical notion and axioms of rationality. We arrive at the sameconclusion if we...

In this paper we analyze the explicit representation of fixed agenda social choice correspondence under different rationality assumptions (independence, neutrality, monotonicity, ...). It is well know in the literature that, under some of theses assumptions, the existence of dictators,...

Numerical representations of choice functions allow the expression of a problem of choice as a problem of finding maxima of real valued functions, which requires less information to be defined and which is easier to work with. In this paper, the existence of numerical representations of choice...

Tournaments are complete and asymmetric binary relations. This type of binary relation rules out the possibility of ties or indifferences which are common in different contexts. In this work we generalize, from a normative point of view, some important tournaments solutions (top cycle, uncovered...

In a choice situation, it is usually assumed that the agents select the maximal elements inaccordance with their preference relation. Nevertheless, there are situations in which a selectioninside this maximal set is needed. In such a situation we can select randomly some of thesemaximal...

A weaker than usual continuity condition for acyclic preferences is introduced. For preorders this condition turns out to be equivalent to lower continuity, but in general this is not true. By using this condition, a numerical representation which is upper semicontinuous is obtained. This fact...