The aim of this paper is to propose a new solution for the roommate problem with strict references. We introduce the solution of maximum irreversibility and consider almost stable matchings (Abraham et al. [2]) and maximum stable matchings (Tan [30] [32]). We find that almost stable matchings...

While the increased frequency of relocation of productive capacities to lower wage countries from developed economies has given rise to discussions concerning job losses and de-industrialisation, developments in the host countries of relocation have been widely neglected. Hungary, together with...

In finance risk capital allocation raises important questions both from theoretical and practical points of view. How to share risk of a portfolio among its subportfolios? How to reserve capital in order to hedge existing risk and how to assign this to different business units? We use an...

There lies a network structure between fixed tree and minimum cost spanning tree networks that has not been previously analyzed from a cooperative game theoretic perspective, namely, directed acyclic graph (DAG) networks. In this paper we consider the cost allocation game defined on...

Foreign currency-based loans and deposits became very popular in Central-Eastern European countries (CEECs) over the 2000-2011 period. This paper employs a structural approach to simultaneously examine the demand-side (consumer-related) and supply-side (bank-related) determinants of the quick...

In Hungary, more than 22% of the FX mortgage portfolio is non-performing and the tendency is worsening. In this paper we propose a solution to effectively reduce the credit and systemic risk inherent to this portfolio, but the proposed model can be applied to other mortgage portfolios in...

Savings behaviour seems to exhibit heterogeneity across nations, and within nations, too. Large changes in saving rates have been observed in the last decades that can be viewed as signs of the arbitrariness of saving. There is a long tradition in the savings literature that separates people...

The paper measures the impact of a wage subsidy for long term unemployed workers, using a large administrative dataset from Hungary. While such subsidies are often promoted as an efficient way to speed up the recovery of the economy or to increase demand for low skilled workers, existing...

To compare the systems of child benefits and of family tax deductions, we create a model with endogenous fertility and a basic income, financed from proportional wage taxes. The deduction's efficiency is presumably lower than the benefit's and may even be lower than that of pure basic income.

We provide a new modus operandi for the computation of the nucleolus in cooperative games with transferable utility. Using the concept of dual game we extend the theory of characterization sets. Dually essential and dually saturated coalitions determine both the core and the nucleolus in...