Showing 1 - 10 of 11,551
platform must strike a balance between optimizing her own revenues and guaranteeing fairness to her (repeat) buyers and (b) the … platform is concerned with both the proportional fairness and efficiency of the allocation, and propose a hybrid algorithm … which achieves a 0:3 bi-criteria guarantee against fairness and efficiency. Finally, we build a sequence of datasets, one …
Persistent link: https://www.econbiz.de/10012936056
The first stock exchanges involved government. The modern stock exchange is strangely devoid of government presence, at least in terms of the decision to halt trading. Meanwhile, over two-hundred billion dollars trades each day on the New York Stock Exchange, one of thirteen recognized domestic...
Persistent link: https://www.econbiz.de/10013054547
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possible. We provide necessary and sufficient conditions for fairness under different market conditions on orders for … constrained RSD mechanisms. Our results show that exchanges relying on the current serialization technology cannot ensure fairness …, including exchanges using `speed bumps.' We find that specific forms of constrained RSD ensure fairness under certain …
Persistent link: https://www.econbiz.de/10014352148
Persistent link: https://www.econbiz.de/10011789865
Persistent link: https://www.econbiz.de/10012654599
This paper studies the effects of asymmetries in re-election probabilities across parties on public policy and their subsequent propagation to the economy. The struggle between groups that disagree on targeted public spending (e.g., pork) results in governments being endogenously short-sighted:...
Persistent link: https://www.econbiz.de/10010945604
The aim of this paper is to provide an application of the Shapley Value to decompose financial portfolio risk. Decomposing the sample covariance risk measure yields relative measures, which enable securities of a portfolio to be classified according to risk scales.
Persistent link: https://www.econbiz.de/10005609449
This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes significant hardships on American families. It heightens stress about finances and may increase household living expenses. These hardships are most pronounced for middle-and...
Persistent link: https://www.econbiz.de/10014195419
This paper takes stock of the economic performance of resource rich countries in the Middle East and North Africa (MENA) over the past forty years. While those countries have maintained high levels of income per capita, they have performed poorly when going beyond the assessment based on...
Persistent link: https://www.econbiz.de/10013090365