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Indivisibilities, Lotteries, and Monetary Exchange

Aleksander Berentsen, Miguel Molico, Randall Wright
2002 Journal of Economic Theory  
In a model with indivisible goods and fiat money, we show goods trade with probability 1 and money trades with probability {, where {<1 iff buyers have sufficient bargaining power.  ...  We consider several extensions designed to get commodities as well as money to trade with probability less than 1, and to illuminate the efficiency role of lotteries.  ...  Of course, in any exchange some notion of commitment is required, but perhaps it is more delicate when objects are not exchanged simultaneously.  ... 
doi:10.1006/jeth.2000.2689 fatcat:akqsboqdkzebpfjsx3dmriutje

The Internet as the Present-Day Agora of Information and Knowledge [chapter]

W. Babik
2017 Theorie, Semantik und Organisation von Wissen  
When co-operating with each other, we become the participants of the information market, since often co-operation is based on mutual exchange and the provision of specifi c information.  ...  Co-operation between people and organizations is always based on a two-way or multi-way fl ow of information. Information is constantly augmented, in terms of both quantity and quality.  ...  In the considerations relating to the information value, the aspect of the exchange-value is applicable when information is a object of exchange, and thus it is a market commodity, with a specifi c price  ... 
doi:10.5771/9783956503269-330 fatcat:yml2x7xa55bp3azf3hpufzsdom

Research on Mode Selection of Government Purchase Public Service Based on Contract Theory

Jian Li
2015 International Journal of u- and e- Service, Science and Technology  
The conclusion indicates that the heterogeneity of public service can influence mode selection of government purchase public service.  ...  The rent of the two modes paid by government is compared and analyzed.  ...  the operation of forest ecosystems under the business model [indivisibility, Moderate asymmetry] Example: advocacy of environmental protect [indivisibility,High asymmetry] Example: basic  ... 
doi:10.14257/ijunesst.2015.8.10.22 fatcat:m66z3bbh5vceritrpgsd6bhzsi

A primitive study of logrolling in e-negotiation

P.C.K. Hung
2003 36th Annual Hawaii International Conference on System Sciences, 2003. Proceedings of the  
Logrolling in two-issue two-party negotiation is defined as the exchange of loss in one issue for gain in other issues that result in an increase of the overall value for both parties.  ...  This paper overviews the issues of logrolling in the context of e-Negotiation.  ...  However, a singleton indivisible package contains only one single issue, which is not to be negotiated with other issues at the same time. ¬∃ (IP(x) ∧ IP(y)).  ... 
doi:10.1109/hicss.2003.1173685 dblp:conf/hicss/Hung03 fatcat:d6u5qfmx4bc3hpookms56sipua

The Business Governance of Localized Knowledge: An Information Economics Approach for the Economics of Knowledge

Cristiano Antonelli
2006 Industry and Innovation  
The notion of localized technological knowledge as a highly heterogeneous dynamic process characterized by varying levels of appropriability, tacitness, unpredictability and indivisibility, which take  ...  A variety of hybrid forms of knowledge governance ranging from coordinated transactions and constructed interactions to quasi-hierarchies can be found between the two unrealistic extremes of pure markets  ...  incomplete with respect to the terms of exchange.  ... 
doi:10.1080/13662710600858118 fatcat:ywwsljenkbbwjoovkq4rb6l2wm

Efficient Fair Division with Minimal Sharing [article]

Fedor Sandomirskiy, Erel Segal-Halevi
2022 arXiv   pre-print
A collection of objects, some of which are good and some are bad, is to be divided fairly among agents with different tastes, modeled by additive utility functions.  ...  We show that, for a generic instance of the problem (all instances except a zero-measure set of degenerate problems), a fair fractionally Pareto-optimal division with the smallest possible number of shared  ...  His specialization is in game theory and its applications to problems of economic design, with a focus on the strategic use of information and resource allocation mechanisms.  ... 
arXiv:1908.01669v3 fatcat:xyul32nzfjcq3blnn7ag5n6uqu

Evidence of Information Asymmetry and Herding Behaviour – The Swiss Franc Unpegging Event in Perspective

Shruti Garg
2020 Ushus - Journal of Business Management  
This is done by studying the information asymmetry and herding behaviour in Indian market on the day of the event.  ...  The study uses two sets of data, (i) high frequency data and (ii) 3 years index data of both countries.  ...  Objectives The paper tries to find two major behaviours of investors on the day of 15 th January 2015.  ... 
doi:10.12725/ujbm.52.4 fatcat:ybukze7hsje4bdj2gd7zb3uydi

Money and the Gains from Trade

Aleksander Berentsen, Guillaume Rocheteau
2002 Social Science Research Network  
With valued money, however, traders exchange efficient quantities if the asymmetry of tastes is not too large.  ...  The need for trades to be "balanced" (satisfy the quid pro quo) at each exchange . . . conflicts with the potential for exploiting all the gains from trade.  ...  , and to determine endogenously which objects serve as media of exchange.263 For example, consider a single-coincidence meeting with ε i > 0 and ε j = 0.  ... 
doi:10.2139/ssrn.299499 fatcat:sr7yzgqtovbdph4vbi6t36vdme

Money and the gains from trade*

Aleksander Berentsen, Guillaume Rocheteau
2003 International Economic Review  
With valued money, however, traders exchange efficient quantities if the asymmetry of tastes is not too large.  ...  The need for trades to be "balanced" (satisfy the quid pro quo) at each exchange . . . conflicts with the potential for exploiting all the gains from trade.  ...  , and to determine endogenously which objects serve as media of exchange.263 For example, consider a single-coincidence meeting with ε i > 0 and ε j = 0.  ... 
doi:10.1111/1468-2354.t01-1-00070 fatcat:yh3lwpzgtbanhpe52jgacqtz3e

Divide and compromise

Antonio Nicolò, Rodrigo A. Velez
2017 Mathematical Social Sciences  
Our proposal retains the simplicity of divide and choose and corrects its ex-post asymmetry.  ...  We introduce a symmetrized version of the popular divide and choose mechanism for the allocation of a collectively owned indivisible good among two agents when monetary compensation is available.  ...  Related literature The equitable allocation of indivisible goods when monetary compensation is available has been the object of an extensive literature.  ... 
doi:10.1016/j.mathsocsci.2017.04.004 fatcat:5fwg4ijbl5eo5eyhb6ahxgdj2i

DeepVentilation: Learning to Predict Physical Effort from Breathing

Sagar Sen, Pierre Bernabé, Erik Johannes B.L.G. Husom
2020 Proceedings of the Twenty-Ninth International Joint Conference on Artificial Intelligence  
In this demo, we present DeepVentilation, a deep learning system to predict minute ventilation in litres of air a person moves in one minute uniquely from real-time measurement of rib-cage breathing forces  ...  DeepVentilation has been trained on input signals of expansion and contraction of the rib-cage obtained using a non-invasive respiratory inductance plethysmography sensor to predict minute ventilation  ...  Proceedings of the Twenty-Ninth International Joint Conference on Artificial Intelligence Early Career Track  ... 
doi:10.24963/ijcai.2020/730 dblp:conf/ijcai/Todo20 fatcat:w43fsp4qhreozhfgxvrycsha34

BUYERS, SELLERS, AND MIDDLEMEN: VARIATIONS ON SEARCH-THEORETIC THEMES

Randall Wright, Yuet-Yee Wong
2014 International Economic Review  
about which objects might emerge as media of exchange, as a function of the objects' properties and agents' beliefs, they also make perhaps-less-well-known predictions about which agents emerge as middlemen  ...  We study bilateral exchange, both direct trade and indirect trade that happens through chains of intermediaries or middlemen. We develop a model of this activity and present applications.  ...  There is an indivisible object x in …xed supply, and a divisible object y that anyone can produce at unit cost (i.e., the utility of producing y units of this object is y).  ... 
doi:10.1111/iere.12053 fatcat:5pzeimhgo5cuvengjwbocoo2sq

Atomism [chapter]

Jeffrey Huw Williams
2018 The Molecule as Meme  
Atomic collisions create objects, which are still composed of the same eternal, indivisible atoms.  ...  was composed of small indivisible particles called atoms.  ... 
doi:10.1088/2053-2571/aadaaech1 fatcat:atuax4x4jrcqpas6fu4empmoxu

The Coming of the Corporate Gift

Jamie Cross, Jacob Copeman, Alice Street
2014 Theory, Culture and Society. Explorations in Critical Social Science  
Focused on the gifting of gold coins to industrial workers at a global manufacturing unit in India it brings together field based observations with a diverse field of literature on the gift in anthropology  ...  KEYWORDS gift, corporate gift, capitalism, labour, India, Strathern AN ETHNOGRAPHIC MOMENT In 2007 the director of an Anglo-Belgian diamond manufacturing company met with his management team to discuss  ...  The objects of exchange reveal the capacity of the other to have elicited it and the origin of these capacities in other people.  ... 
doi:10.1177/0263276413499191 fatcat:zmp74dfykfgqtcimsvlpebabpe

Factors Limiting and Affecting the Use of Market Information Systems in Sahelian Countries

Ouédraogo Ferdinand
2019 Theoretical Economics Letters  
The objective of this study is to analyze the contributions of Market Information Systems (MIS) to the performance of agricultural markets in Sahelian countries, to identify and analyze the factors that  ...  prices and the level of supply of products in the markets.  ...  a collective good, indivisible and inappropriate.  ... 
doi:10.4236/tel.2019.97156 fatcat:7q3s3mryybarxeobtxncqnwgpi
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