In dispute resolution, arbitrator assignments are decentralized and they incorporate parties’preferences, in total contrast to referee assignments in sports. We suggest that there can begains (i) in dispute resolution from centralizing the allocation by bundling the newly arrivingcases, and...

In this study we replace the three standard properties (namely, 'Weak Pareto Optimality', Symmetry', and 'Independence of Equivalent Utility Representations') in the axiomatic characterizations of the Nash and Kalai/Somorodinsky solution concepts. In the characterization of the Nash solution,...

A country’s levels of collective action in the provision of socially desirable goods and services are primarily determined by its level of development, important natural attributes, and its unique institutional characteristics. In general, one can expect that, given a particular set of natural...

How does the inflation tax impact on buyers’ and sellers’ behaviour? How strong is its effect on aggregate economic activity? To answer, we develop a model of directed search and monetary exchange with inflation. In the model, sellers post prices, which buyers observe before deciding on cash...

In the current FIFA penalty shootout mechanism, a coin toss decides which team will kick first. Empirical evidence suggests that the team taking the first kick has a higher probability to win a shootout. We design sequentially fair shootout mechanisms such that in all symmetric Markov-perfect...

We start by considering the Alternate Strike (AS) scheme, a real-life arbitration scheme where two parties select an arbitrator by alternately crossing off at each round one name from a given panel of arbitrators. We find out that the AS scheme is not invariant to “badâ€\x9D...

Law enforcement officers are allowed to exercise a significant amount of street-level discretion in a variety of ways. In this paper, we focus on a particular prominent kind of discretionary behavior by traffic officers when issuing speeding tickets, speed discounting. Officers partially forgive...