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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 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 ...
HEG2009
One major methodological problem in analysis of sequence data is the determination of costs from which distances between sequences are derived. Although this problem is currently not optimally dealt with in the social sciences, it has some similarity with ...
SAGE Publications2009
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
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 ...
Long spillways often include more than one chute aerator to assure an appropriate cavitation protection. The first aerator guarantees sufficient bottom air concentration along a limited streamwise distance attributed to deaeration. Further downstream, the ...
Mini and small hydropower is a renewable, clean and efficient resource for the production of mechanical and electrical power. By offsetting thermal generation, it can be a leading technology in climate change mitigation and sustainable development. Small h ...
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 ...
The network industries have been undergoing a process of reform, where liberalisation is one of the main features. This thesis studies the effect of liberalisation, with and without competition, on the incumbent's incentives to innovate. A model of incumbe ...
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 ...