We examine the maximal-element rationalizability of choice functions with arbitrary do-mains. While rationality formulated in terms of the choice of greatest elements according to a rationalizing relation has been analyzed relatively thoroughly in the earlier litera-ture, this is not the case...

A group of agents participate in a cooperative enterprise producing a single good. Each participant contributes a particular type of input; output is nondecreasing in these contributions. How should it be shared? We analyze the implications of the axiom of Group Monotonicity: if a group of...

In an Important Study Published in 1982, Newhouse, Williams, Bennett and Schwartz (Nwbs Hereafter) Analysed the Geographical Distribution of Physicians Using Us Data and Emphasized That the Physician's Ability to Create Demand Is Neither Necessary Nor Sufficient to Yield a Prediction of...

We Consider the Null Hypothesis That a Time Series Has a Unit Root with Possibly Non-Zero Drift Against the Alternative That the Process Is 'Trend-Stationary'. the Interest Is That We Allow Under Both the Null and Alternative Hypotheses for the Presence of a One-Time Change in the Level Or in...

We analyze an alternative to the standard rationalizability requirement for observed choices by considering non-deteriorating selections. A selection function is a generalization of a choice function where selected alternatives may depend on a reference (or status quo) alternative in addition to...

This paper derives optimal monetary policy rules in setups where certainty equivalence does not hold because either central bank preferences are not quadratic, and/or the aggregate supply relation is nonlinear. Analytical results show that these features lead to sign and size asymmetries, and...