This note studies the allocation of heterogeneous commodities to agents whose private values for combinations of these commodities are monotonic by inclusion. This setting can accommodate the presence of complementarity and substitutability among the heterogeneous commodities. By using induction...

Empirical studies of voting behavior provide evidence of bandwagon effects. Some voters, believing that a particular candidate will win, vote for this candidate even though they prefer the alternative. This paper provides a non-expected utility explanation of such behavior by positing that...

This article identifies the common characterizing property, the comonotonic sure-thing principle, that underlies the rank-dependent direction in non-expected utility. This property restricts Savage's sure-thing principle to comonotonic acts, and is characterized in full generality by means of a...

This paper studies the market for monopolistically supplied sweepstakes. We derive equilibrium demands for fixed-prize and variable-prize sweepstakes and determine the profit maximizing prize level and payout ratio respectively. It can be profitable to offer each type of sweepstake when there...

Purpose: In the current urban and increasingly digital/information era, the service of property management towards residents is of key importance to the well-being of society, which is especially well reflected in its role during the COVID-19 pandemic in China. However, professional knowledge...

In the first decade of consumer neuroscience, strong progress has been made in understanding how neuroscience can inform consumer decision making. Here, we sketch the development of this discipline and compare it to that of the adjacent field of neuroeconomics. We describe three new frontiers...