What money can’t buy: allocations with priority lists, lotteries and queues

What Money Cannot Buy? Compassion in Healthcare: A Response to the Recent Commentaries

Explaining Heterogeneity in Risk Preferences Using a Finite Mixture Model

This paper studies the effect of the space (distance) between lotteries' outcomes on risk-taking behavior and the shape of estimated utility and probability weighting functions. Previously investigated experimental data shows a significant space effect in the gain domain. As compared to low spaced lotteries, high spaced lotteries are associated with higher risk aversion for high probabilities o...

Bidding for money

We analyze monetary exchange in a model that allows for directed search and multilateral matches. We consider environments with divisible goods and indivisible money, and compare the results with those in models that use random matching and bilateral bargaining. Two different pricing mechanisms are used: ex ante price posting, and ex post bidding (auctions). Also, we consider settings both with...

Biased Leftist Trees and Modi ed Skip Lists

We propose the weight biased leftist tree as an alternative to traditional leftist trees CRAN for the representation of mergeable priority queues A modi ed version of skip lists PUGH that uses xed size nodes is also proposed Experimental results show our modi ed skip list structure is faster than the original skip list structure for the representation of dictionaries Experimental results compar...

Indivisibilities, Lotteries, and Monetary Exchange

We introduce lotteries (randomized trading) into search-theoretic models of money. 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. With divisible goods, a nonrandom quantity q trades with probability 1 and, again, money trades with probability { where {<1 iff buye...