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Price Theory in Economics

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Bidder Optimal Assignments for General Utilities

Monika Henzinger, Ingmar Weber, Paul David Dütting

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 ...

Springer2009

Equilibrium Prices for Monetary Utility Functions

Damir Filipovic

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 ...

World Scientific Publishing2008

Market Consistent Pricing of Insurance Products

Semyon Malamud

We present the ﬁrst step in a program to develop a comprehen- sive, uniﬁed equilibrium theory of asset and liability pricing. We give a mathematical framework for pricing insurance products in a multiperiod ﬁnancial market. This framework reﬂects classical ...

2008

Effective Usage of Computational Trust Models in Rational Environments

Karl Aberer

Reputation-based trust models using statistical learning have been intensively studied for distributed systems where peers behave maliciously. However practical applications of such models in environments with both malicious and rational behaviors are stil ...

2008

Multi-agent modelling of electricity markets

Abdelaziz Lahlou

This thesis describes the development of three conceptual models built to serve as decision support tools in liberalised electricity markets. The introduction of competition, higher uncertainty and decentralised planning requires new planning and analysis ...

EPFL2007

Market price of risk specifications for affine models: Theory and evidence

Damir Filipovic

We extend the standard specification of the market price of risk for affine yield models, and apply it to U.S. Treasury data. Our specification often provides better fit, sometimes with very high statistical significance. The improved fit comes from the ti ...

Elsevier2007

Neurophysiological evidence on perception of reward and risk: Implications for trading under time pressure

Anjali Devi Vanapilli Nursimulu

Recent neurophysiological studies reveal that risk and reward are separately encoded in the human brain, and that the encodings display different timing patterns. Therefore, we hypothesized that sensitivity of trading decisions to risk and reward parameter ...

University of Zurich2007

Three essays on the acceptability of environmental policy in Switzerland

Nicholas Bornstein

The present thesis studies the acceptability of environmental policy in Switzerland. The first part of the thesis concentrates on citizens' demand for environmental quality at ballots. The analysis is guided by the public choice framework, which is rooted ...

EPFL2007

Satisfying Customer Preferences via Mass Customization and Mass Production

Ralf Seifert

Two operational formats namely mass customization and mass production can be implemented to satisfy customer preference-based demand. The mass customization system consists of two stages: the initial build-to-stock phase and the final customize-to-order ph ...

2006

Success and failure factors of collaborative networks of SME

Michel Pouly, Frédéric Monnier

The enterprises active in the industrial subcontracting branch are in a very competitive market and support large pressures on their prices and delivery schedules. The arrival on the market of suppliers from low-cost countries like Eastern Europe or the Fa ...

2005