features is key for evaluating financial and labor policy reforms since they have a direct impact on the allocation of …

We study the optimal allocation of a resource in a second-best world in which parties may be liquidity-constrained due … competitive market $-$which allocates items based on rank order of bids$-$ fails to achieve the first-best allocation. The market … the allocation of access to the resource may be justified not only by distributional concerns but also by economic …

study a well known problem of resource allocation in microeconomics and adapt it to the financial constraints created by … COVID-19. We formulate the resource allocation problem as a finite-dimensional convex program under appropriate assumptions … constraint qualification result. We then focus on the COVID-19 allocation problem for which a closed-form optimal solution is …