Fair division is a fundamental problem in various multi-agent settings, where the goal to divide set of resources among agents fair manner. We study case m indivisible items need be divided n with additive valuations using popular fairness notion maximin share (MMS). An MMS allocation provides each agent bundle worth at least her share. While it known that such an not exist [1], [2], series rem...

We consider a common pool resource (CPR) where, in the first stage, every firm chooses an equity share on its rivalsiproOts (cross-ownership) and, second firms compete for resource. identify equilibrium shares this setting, and compare them against socially optimal that maximize welfare. Our results show are welfare improving under certain conditions, but can lead to insufficient exploitation o...

Although two classes of shares on the same Chinese companies differ only in that the A-share class trade in Yuan and the B-share class in dollars, the B-shares have traded at a significant and persistent discounts to the A-shares since inception of the B-share market in the early 1990s. The persistence of the discount has been a puzzle. We find that liquidity differences between the less liquid...

abstract the objective of this study is to investigate the long run and short run interactions between agricultural trade liberalization and shares of the two sectors of agriculture and services in the total export and import products and services of iran during the years 1961-2008. to figure out interactions, the vector correction model was used. the ratio of the sum of imports and exports to ...

What drives the dynamics of top wealth inequality? To answer this question, I propose an accounting framework that decomposes growth share aggregate owned by a percentile into three terms: within term, which is average individuals initially in relative to economy; between accounts for entering and exiting due changes their rankings; demography or death population growth. obtain closed‐form expr...

In this paper, we introduce the MSCI China A-shares index (MCASI) and analyze MCASI’s properties. From perspective of investment, found that investor sentiments, both overnight sentiment BW sentiment, provide significant predictability for future MCASI returns, supported by in-sample out-of-sample results. sector show portfolio “information transfer, software information technology services” pe...