We study the optimal management of evolving hierarchies, which abound in real-life phenomena. An initiator invests into finding a subordinate, who will bring revenues to the joint venture and who will invest herself into finding another subordinate, and so on. The higher the individual...

This paper provides an extension of the Nash solution to NTU bargaining and rationing problems, allowing for non-convex, non-smooth utility possibility sets. We do so by interpreting the Nash solution as the maximiser of a weighted utilitarian social welfare function, in which the weights are...