Twelve sets, proposed as social choice solution concepts, are compared: the core, five versions of the uncovered set, two versions of the minimal weakly stable sets, the uncaptured set, the untrapped set, the minimal undominated set (strong top cycle) and the minimal dominant set (weak top...

According to Katz [6] some of the basic notions of probability existed in ancient civilizations. In The Talmud and in Roman calculations of annuities there is some evidence of this. However, no record of numerical probability calculations exists. Hald [5], Bernstein [1] and Katz [6] agree that...

We describe a candid model for learning, why and how learning transpires. We investigate the original as well as the leading conditions of the learning process. We provide an insight into the realm of beliefs and their formation, their interaction and influence with the actor’s environment. In...

We analyze the tax evasion problem with social interaction among the taxpayers. If the authority commits to a fixed auditing probability, a positive share of cheating is obtained in equilibrium. This stands in contrast to the existing literature, which yields full compliance of audited taxpayers...

In this paper we show that in an exchange economy with quasi-linear preferences it is possible to manipulate market equilibrium by destroying and withholding ones initial endowments.

This note examines the complexity of complete transitive binary relations or tournaments using Kolmogorov complexity. The complexity of tournaments calculated using Kolmogorov complexity is then compared to minimally complex tournaments defined in terms of the minimal number of examples needed...

We study a market model in which competing firms use costly marketing devices to influence the set of alternatives which consumers perceive as relevant. Consumers in our model are boundedly rational in the sense that they have an imperfect perception of what is relevant to their decision...

This study investigates social welfare and privatization depending on the government's preference for tax revenues and the timing of wage setting in either a unionized-mixed or a unionized-privatized duopolistic market. We show that bargaining over wages is always sequential regardless of who...

This paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers. A substantial part of this paper is devoted to utility maximization and its application to collective...

In this paper, I develop a hybrid model that contains elements of both agent based simulations (ABS) as well as analytic Cournot models, to study the effects of firm characteristics, market characteristics, and innovation on market concentration, as measured by a Herfindahl-Hirschman Index...