The Kolkata Paise Restaurant Problem is a challenging game in which n agents decide where to have lunch during their break. The game is not trivial because there are exactly n restaurants, and each restaurant can accommodate only one agent. We study this problem from a new angle and propose a...

In this paper, the authors address a delivery process with time requirements in the supply chain, stated as follows: orders launched from customers are centralized and assigned to firms' depots for the delivery process. The consideration of a depot and a set of customers belonging to different...

Sustainable use of natural resources becomes an important issue today not only due to global warming and pollution issues but also because of critical pressure on the Earth?s regeneration possibility. We cannot use classical microeconomic approach here for two reasons: a) impossibility to create...

In this paper, we analyze optimal monetary policy rules in a model of the euro area, namely the ECB’s Area Wide Model, which embodies a high degree of intrinsic persistence and a limited role for forward-looking expectations. These features allow us, in large measure, to differentiate our...

In this paper, we show both theoretically and empirically that the size of over-the-counter (OTC) markets can be reduced without affecting individual net positions. First, we find that the networked nature of these markets generates an excess of notional obligations between the aggregate gross...