Giffen goods have long been a minor embarrassment to economics. While it is customary to dismiss them as empirically irrelevant, this essay argues that a more fundamental difficulty with Giffen goods has somehow been overlooked.

We consider a set of alternatives (electoral platforms, bills, etc. ...) defined as a Cartesian product of k finite discrete sets. We assume that the preferences of the individuals (voters) are marginally single-peaked and separable. The main result of this paper states that the pairwise...

In a Bayesian model of group decision-making, dependence among the agents' types has been shown to have a beneficial effect on the design of incentive compatible mechanisms that achieve the efficient choice associated with complete information. This effect is shown here to depend as much upon...

This paper discusses how numerical techniques may be used to solve the simultaneous functional equations that arise in general dynamic stochastic games. Unlike the conventional linear-quadratic approach, our methods may be used to address general model specifications that may include...

We examine a multistage model of an R&D race where players have multiple projects. We also develop perturbation methods for general dynamic games that can be expressed as analytic operators in a Banach space. We apply these perturbation methods to solve races with a small prize. We compute...

This paper explores an old solution for bankruptcy problems, described by Ibn Ezra in the XII century. Particularly, we introduce a new way of extending the Ibn Ezra’s proposal, the Generalized Ibn Ezra solution, by imposing that the general distribution principle from which it is inspired...