Concurrent auctions of several objects are traditionally analyzed as if they were independent single-object auctions. Such an approximation may be very crude if bidders have budgetary restrictions, capacity constraints, or, in general, have non-linear utility functions. This paper presents a...

This chapter has had two principal purposes. One was to develop the idea of the “coalitional function” of a cooperative game as a means of abstracting from given settings (pure exchange economies, strategic-form games, political games, and the like) the possibilities available to the various...

Under approval voting, a voter may cast single votes for each of any number of candidates. In this paper, the history of approval voting and some of its properties are reviewed. When voters vote sincerely, approval voting compares favorably with both the plurality rule and Borda's rule in...

This chapter has had two principal purposes. One was to develop the idea of the "coalitional function" of a cooperative game as a means of abstracting from given settings (pure exchange economies, strategic-form games, political games, and the like) the possibilities available to the various...

Traditional economics focuses on hypothetical markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of the invisible hand, which guides markets and renders regulation or interference largely...