The paper addresses the following question: how efficient is the market system in allocating resources if trade takes place at some prices $p$ that are not necessarily competitive? Even though there are many partial answers to this question, an answer that stands comparison to the rigor by which...

The purpose of this paper is to present examples which show that deterministic and stochastic scheduling problems often have a surprisingly different behavior. In particular, it demonstrates some seemingly counterintuitive properties of optimal scheduling policies for stochastic machine...

This paper experimentally studies the effects of competition in an environment where people’s actions can not be contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency nor does it yield any gains in earning for the...

We consider networks evolving over time within an infinite-horizon dynamic setting. Transitions from one network to another are given by a stationary transition probability matrix. We study the problem of fairly and efficiently allocating the value of a network at any point in time among its...

We study sets of preferences that are convex with respect to the betweeness relation induced by the Kemeny distance for preferences. It appears that these sets consist of all preferences containing a certain partial ordering and the other way around all preferences containing a given partial...

We consider the problem of determining a set of optimal tariffs for an agent in a network, who owns a subset of the arcs of the network, and who wishes to maximize his revenues on this subset from a set of clients that make use of the network.The general variant of this problem is NP-hard,...

This paper compares two approaches towards the empirical inertia of inflation and output. Two variants that produce persistence are added to a baseline DSGE model of sticky prices: 1) sticky information applied to firms, workers, and households; and 2) a backward-looking inflation indexation...

This paper presents evidence on the industry effects of bank lending in Germany and asks whether bank lending to single industries depends on industry-specific bank credit demand or on monetary policy as determinant of bank credit supply. To this end, we estimate individual bank lending...

This article builds on the call of various authors (e.g. George & Jones, 2000; Mitchell & James,2001; Rousseau & Fried, 2001) for a better representation of time in theory-building andresearch in organizational behavior (OB). It proposes a radical temporalist approach to the study of OB which combines a...

In this paper we consider the two-machine ow shop problem with varying machine speeds. We present an algorithm which determines the optimal permutations for all machine speeds in O ( n log n ) time, where n is the number of jobs. To achieve this bound on the running time, the algorithm employs...