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In this paper we explore the trend of professionalization, with a focus on autonomization, in the Swiss wastewater sector. The aim is to evaluate the performance of water utilities in terms of legitimacy, efficiency and effectiveness in the context of auto ...
We study the problem of matching bidders to items where each bidder i has a general, strictly monotonic utility functions u_{i,j}(p_j) expressing her utility of being matched to item j at price p_j . For this setting we prove that a bidder optimal outcome ...
This paper provides sufficient and necessary conditions for the existence of equilibrium pricing rules for monetary utility functions under convex consumption constraints. These utility functions are characterized by the assumption of a fully fungible nume ...
This paper estimates a translog cost function for Swiss water utilities. From the cost function, we are able to estimate measures of marginal costs as well as economies of production density, customer density and scale, which are important determinants in ...
In the efficient social choice problem, the goal is to assign values, subject to side constraints, to a set of variables to maximize the total utility across a population of agents, where each agent has private information about its utility function. In th ...
Prior research into the link between new product development and market segmentation has focused on two main approaches: (1) design, segment, and do limited competitive evaluation; and (2) segment first, design second. This paper proposes a third approach, ...
We prove that for any incomplete market and any concave utility function the marginal propensities to consume and to save are always positive. Furthermore, we intro- duce a class of incomplete markets that includes almost all well known examples of market ...
Departure time choice modeling has been part of main stream travel behavior research for more than three decades. Congestion management schemes are based on the assumption that travelers optimize their departure time choice. Ever since Vickrey, in the late ...
We study utility indifference pricing of claim streams with intertem- poral consumption and power (CRRA) utilities. We derive explicit for- mulas for the derivatives of the utility indifference price with respect to claims and wealth. The simple structure of ...
Marginal utility theory prescribes the relationship between the objective property of the magnitude of rewards and their subjective value. Despite its pervasive influence, however, there is remarkably little direct empirical evidence for such a theory of v ...