Parikh and Krasucki [1990] showed that if rational agents communicate the value of a function f according to a protocol upon which they have agreed beforehand, they will eventually reach a consensus about the value of f, provided a fairness condition on the protocol and a convexity condition on...

It is a widely spread belief that crypto-currencies implementing a proof of stake transaction validation system are less vulnerable to a 51% attack than crypto-currencies implementing a proof of work transaction validation system. In this article, we show that it is not the case and that, in...

We axiomatize the collective identity function selecting the agents that are indirectly designated by all the individuals in the society.

We show that the class of absolute qualified majority voting rules are the only ones to satisfy Anonymity, Neutrality, Monotonicity, Weak Pareto and Decisiveness Non-Equivalence. When there are two alternatives x and y, the latter axiom states that if an individual voting for y can improve the...

This paper analyzes the timing decisions of pharmaceutical firms to launch a new drug in countries involved in international reference pricing. We show three important features of launch timing when all countries reference the prices in all other countries and in all previous periods of time....

We define the stability indice of a Constitution obtained by Partial Culture. We will say that a Constitution is α-stable if it changes with a probability 1/2 when each individual shows a will to change it with a probability α. We compute that the European Constitution is 50,13 %-stable...

We characterize choice correspondences that can be rationalized by a procedure that is a refinement of the prudent choices exposed in (Houy, 2010). Our characterization is made by means of the usual expansion axiom [gamma] and a weakening of the usual contraction axiom [alpha]. We also make a...

[eng] Payment Efficiency in Euro and Monetary Denomination Systems. . This study aims at measuring the efficiency of the European monetary denomination system. On the contrary to the previous studies based on a uniform distribution of prices in the economy, we introduce a real distribution of...