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A theory of fair random allocation under priorities

Han, Xiang - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 3, pp. 1185-1221

In the allocation of indivisible objects under weak priorities, a common practice is to break the ties using a lottery and randomize over deterministic mechanisms. Such randomizations usually lead to unfairness and inefficiency ex-ante. We propose and study the concept of ex-ante fairness for...

Persistent link: https://www.econbiz.de/10014635425

Stable matching in large markets with occupational choice

Carmona, Guilherme; Krittanai Laohakunakorn - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 3, pp. 1261-1304

We introduce a model of large many-to-one matching markets with occupational choice where each individual can choose which side of the market to belong to. We show that stable matchings exist under mild assumptions; in particular, both complementarities and externalities can be accommodated. Our...

Persistent link: https://www.econbiz.de/10014635431

Lone wolves in competitive equilibria

Jagadeesan, Ravi; Kominers, Scott Duke; Rheingans-Yoo, Ross - 2017

. Specifically, we prove an analogue of the “Lone Wolf Theorem” of classical matching theory, showing that when utility is perfectly …

Persistent link: https://www.econbiz.de/10011928931

Stabile Allokationen und Matching-Märkte: Zum Nobelpreis für Wirtschaftswissenschaften an Lloyd S. Shapley und Alvin E. Roth

Kübler, Dorothea - In: Wirtschaftsdienst 92 (2012) 12, pp. 843-847

The Nobel prize in economics in 2012 was awarded to Lloyd S. Shapley and Alvin E. Roth for 'the theory of stable … foundations of the theory of stable allocations (in particular the celebrated deferred-acceptance algorithm) as well as the …-sided matching markets, such as school choice, labour markets and kidney exchange, relies on both theory as well as on empirical …

Persistent link: https://www.econbiz.de/10010471332

Congestion management in power systems : long-term modeling framework and large-scale application

Bertsch, Joachim; Hagspiel, Simeon; Just, Lisa - 2015

In liberalized power systems, generation and transmission services are unbundled, but remain tightly interlinked. Congestion management in the transmission network is of crucial importance for the efficiency of these inter-linkages. Different regulatory designs have been suggested, analyzed and...

Persistent link: https://www.econbiz.de/10011294626

Much Ado About Making Money : The Impact of Disclosure, News and Rumors Over the Formation of Security Market Prices Over Time

Biondi, Yuri - 2017

This article develops an agent-based model of security market pricing process, capable to capture main stylised facts. It features collective market pricing mechanisms based upon evolving heterogeneous expectations that incorporate signals of security issuer fundamental performance over time....

Persistent link: https://www.econbiz.de/10012970505

What Does the Financial Market Pricing Do? A Simulation Analysis with a View to Systemic Volatility, Exuberance and Vagary

Biondi, Yuri - 2015

Biondi et al. (2012) develop an analytical model to examine the emergent dynamic properties of share market price formation over time, capable to capture important stylized facts. These latter properties prove to be sensitive to regulatory regimes for fundamental information provision, as well...

Persistent link: https://www.econbiz.de/10013034712

Reliable electricity : the effects of system integration and cooperative measures to make it work

Hagspiel, Simeon - 2017

We investigate the effects of system integration for reliability of supply in regional electricity systems along with cooperative measures to support it. Specifically, we set up a model to contrast the benefits from integration through statistical balancing (i.e., a positive externality) with...

Persistent link: https://www.econbiz.de/10011812558

Optimal allocation of variable renewable energy considering contributions to security of supply

Peter, Jakob; Wagner, Johannes - 2018

Electricity markets are increasingly influenced by variable renewable energy such as wind and solar power with a pronounced weather-induced variability and imperfect predictability. As a result, the evaluation of the capacity value of variable renewable energy, i.e. its contribution to security...

Persistent link: https://www.econbiz.de/10011883044

Simulation and evaluation of zonal electricity market designs

Hesamzadeh, Mohammad Reza; Holmberg, Pär; Sarfati, Mahir - 2018

Zonal pricing with countertrading (a market-based redispatch) gives arbitrage opportunities to the power producers located in the export-constrained nodes. They can increase their profit by increasing the output in the dayahead market and decrease it in the real-time market (the inc-dec game)....

Persistent link: https://www.econbiz.de/10011852449