In this paper, we show that even if a redundant security does not have the cost-saving role in markets with transaction costs, it may still be relevant to risk-sharing at equilibrium. We call this the coordinating role of the redundant security. We prove that at least 5 securities and 3 states...

This paper investigates one of the most important financial issues arising from a secession or a country partitioning, namely the sharing ot the national public debt. Extending Dreze's distributive neutrlaity condition, we use the generational accounting technique and propose a dynamic...

This paper studies the impact of considering the incentives of candidates to strategically affect the outcome of a voting procedure. First we show that every non-dictatorial voting procedure that satisfies unanimity, is open to strategic entry or exit by candidates: there necessarily exists some...

We study the polyhedral structure of variants of the discrete lot-sizing problem viewed as special cases of convex integer programs. Our approach in studying convex integer programs is to develop results for simple mixed integer sets that can be used to model integer convex objective functions....