Forecasting is a daunting challenge for business economists and policymakers, often made more difficult by pervasive uncertainty. No such uncertainty is more difficult than projecting the reaction of policymakers to major shifts in the economy. We explore the process by which the FOMC came to...

Collective contests are examined permitting heterogeneity of stakes within every competing group. Our first concern is whether unequal distribution of stakes in a group can enhance its win probability. Our second concern is whether a large stake in a group can be individually disadvantageous. We...

Under the present civil Sudanese conditions, the country endures many hardships which are manifested in economic retraction, inflation, recession and stagflation. However, those are not the sole reasons for the sporadic conflicts that infest the people. Illegitimate property and economic...

We consider axiomatic characterization of social choice functions when there exist a fixed number of voters. Our particular interest is in social choice functions that reflect, to some extent, positional information in voters' preference rankings as well as orders between two alternatives. More...

Are humans intuitively altruistic, or does altruism require self-control? A theory of social heuristics, whereby intuitive responses favor typically successful behaviors, suggests that the answer may depend on who you are. In particular, evidence suggests that women are expected to behave...

We axiomatize the anti-plurality rule by anonymity, neutrality, reinforcement, and new axioms, that is, averseness and bottoms-only. Averseness is a weaker axiom than faithfulness, and bottoms-only is an opposite axiom of tops-only. Thus, we do not apply the characterization of a scoring social...

Purpose – By analyzing the problems existing in logistics distribution of express companies, this paper explores various factors affecting customer satisfaction and takes consumer sentiment as a mediating variable.Design/methodology/approach – Through questionnaires to collect relevant data,...

The Shapley-Shubik index is a specialization of the Shapley value and is widely applied to evaluate the power distribution in committees drawing binary decisions. It was generalized to decisions with more than two levels of approval both in the input and the output. The corresponding games are...

This paper examines the usefulness of Coasian Transaction Cost Economics for describing the governance outcomes for semi-public markets, i.e. markets where some government involvement is indispensable, and where the government transacts with private parties, or provides the service in-house....

In this paper we provide two simple new versions of Arrow's impossibility theorem, in a model with only one preference profile. Both versions are transparent, requiring minimal mathematical sophistication. The first version assumes there are only two people in society, whose preferences are...