Various forms of substitutability are essential for establishing the existence of equilibria and other useful properties in diverse settings such as matching, auctions, and exchange economies with indivisible goods. We extend earlier models' definitions of substitutability to settings in which...

We consider the many-to-many two-sided matching problem under a stringent domain restriction on preferences called the max-min criterion. We show that, even under this restriction, there is no stable mechanism that is weakly Pareto efficient, strategy-proof, or monotonic (i.e. respects...

We show that federalism will lead to higher economic growth. We present a model of endogenous growth where government services, funded by income and capital taxes, are a component of production. In this model a decentralized government will choose tax policy to maximize economic growth, while a...