We provide a generalization of the position value (Meessen 1988) that allows players to benefit from transfers of worth by investing in communication links. The player who invests the most in a communication link obtains transfers of worth from the second one. We characterize this new allocation...

It is shown that preferences can be constructed from observed choice behavior in a way that is robust to indifferent selection (i.e., the agent is indifferent between two alternatives but, nevertheless, is only observed selecting one of them). More precisely, a suggestion by Savage [Savage,...

Most welfare studies are based on the assumption that wellbeing is monotonically related to the variables used for the analysis. While this assumption can be regarded as reasonable for many dimensions of wellbeing like income, education, or empowerment, there are some cases where it is...

In this note we make a comparison between the class of monotonic TU cooperative games and the class of superadditive TU cooperative games. We first provide the equivalence between a weakening of the class of su- peradditive TU games and zero-monotonic TU games. Then, we show that zero-monotonic...

In this article, we characterize efficient portfolios, i.e. portfolios which are optimal for at least one rational agent, in a very general financial market model of foreign currencies with proportional transaction costs. In our setting, transaction costs may be random, time dependent, have...

In this article, we characterize efficient portfolios, i.e. portfolios which are optimal for at least one rational agent, in a very general financial market model of foreign currencies with proportional transaction costs. In our setting, transaction costs may be random, time dependent, have...

Motivated by the work of Musiela and Zariphopoulou \cite{zar-03}, we study the Itô random fields which are utility functions $U(t,x)$ for any $(\omega,t)$. The main tool is the marginal utility $U_x(t,x)$ and its inverse expressed as the opposite of the derivative of the Fenchel conjuguate...

The paper generalizes the construction by stochastic flows of consistent utility processes introduced by M. Mrad and N. El Karoui in (2010). The utilities random fields are defined from a general class of processes denoted by $\GX$. Making minimal assumptions and convex constraints on...

Knowledge Management (KM) is a field that has attracted much attention both in academic and practitioner circles. Most KM projects appear to be primarily concerned with knowledge that can be quantified and can be captured, codified and stored - an approach more deserving of the label Information...