Sharing a damage that has been caused jointly by several individuals - called tortfeasors - is a difficult problem that courts often face. Even if there are basic principles and rules to apportion damages among them, legal scholars are still looking for a systematic apportionment method. We...

All quasivalues rest on a set of three basic axioms (efficiency, null player, and additivity), which are augmented with positivity for random order values, and with positivity and partnership for weighted values. We introduce the concept of Moebius value associated with a o sharing system and...

In a framework of preferences over lotteries, we show that an axiom system consisting of weakened versions of Arrow's axioms has a unique solution. "Relative Utilitarianism" consists of first normalising individual von Neumann-Morgenstern utilities between 0 and 1 and then summing them. This...

Discrete choice theory is very much dominated by the paradigm of the maximization of a random utility, thus implying that the probability of choosing an alternative in a given set is equal to the sum of the probabilities of all the rankings for which this alternative comes first. This property...

In this paper we consider a model with multiple jurisdictions where each formed jurisdiction selects a public project from the given uni-dimensional set, equally shares its cost among its members and places the project at the location of its median resident. We examine a cooperative concept of...

In this note we consider a society that partitions itself into disjoint jurisdictions, each choosing a location of its public project and a taxation scheme to finance it. The set of public project is multi-dimensional, and their costs could vary from jurisdiction to jurisdiction. We impose two...

A set of jobs need to be served by a server which can serve only one job at a time. Jobs have processing times and incur waiting costs (linear in their waiting time). The jobs share their costs through compensation using monetary transfers. In the first part, we provide an axiomatic...

This paper proposes a real option capacity expansion model for power generation with several technologies that differ in operation and investment costs. The economy is assumed perfectly competitive and the instantaneous payoff accruing from the generation system is the instantaneous welfare...

As European countries move towards complete unbundling in electricity markets, some issues regarding market design are still under discussion. In particular, which market configuration would give the right incentives to promote efficiency and reduce final prices. In this paper we analyze a...