When a firm undertakes risky activities, the conflict between social and private incentives to exercise safety care requires public intervention. This control takes the form of both monetary incentives but also monitoring taking place either ex ante or ex post, i.e., before or after an accident occurs. We delineate the respective scopes of these monitoring activities when public monitors are ei...

(a) Establish a necessary and su¢ cient condition for the ex post incentive compatibility of the e¢ cient allocation. Explicitly derive a transfer schedule that achieves the e¢ cient allocation with ex post incentive compatibility and ex post participation constraint (i.e. each bidder receives nonnegative net utility and to be precise zero net utility if s/he loses) in the direct revelation mec...

We study the problem of dissolving an equal-entitlement partnership when the objective is to minimize maximum regret. We initially focus on the family of linear-pricing mechanisms and derive regret-optimizing strategies. We also demonstrate that there exist linear-pricing mechanisms satisfying ex-post efficiency. Next, we analyze a binary-search mechanism which is ex-post individually rational....

BACKGROUND The introduction of rapid diagnostic tests (RDTs) has improved the diagnosis and treatment of malaria. However, any successful control of malaria will depend on socio-economic factors that influence its management in the community. Willingness to pay (WTP) is important because consumer responses to prices will influence utilization of services and revenues collected. Also the consume...

We study what kind of equilibria of which mechanisms are ex post renegotiation-proof (EPRP), i.e., robust against the possibility of ex post renegotiation under a variety of renegotiation procedures, and which social choice functions are EPRP implementable. In complete information environments with two agents only budget balanced Groves allocations are EPRP implementable, while with three or mo...

We analyze the problem of fully implementing a social choice function when the planner does not know the agents’ beliefs about other agents’ types. We identify an ex post monotonicity condition that is necessary and in economic environments sufficient for full implementation in ex post equilibrium; we also identify an ex post monotonicity no veto condition that is sufficient. These results are ...

Suppose n Bayesian agents need to make a decision as a group. The group as a whole is also supposed to be a Bayesian agent whose probabilities and utilities are derived or aggregated in reasonable ways from the probabilities and utilities of the group members. The aggregation could be ex ante, i.e., in terms of expected utilities, or it could be ex post, i.e., in terms of utilities only, or in ...

Environmental policies employ metaphoric objectives such as ecosystem health, resilience and sustainable provision of ecosystem services, which influence corresponding sustainability assessments by means of normative settings such as assumptions on system description, indicator selection, aggregation of information and target setting. A heuristic approach is developed for sustainability assessm...

Information security controls can help reduce the probability of a breach, but cannot guarantee that one will not occur. In order to reduce the costs of data breaches, firms are faced with competing alternatives. Investments in ex ante security measures can help prevent a breach, but this is costly and may be inefficient; ex post mitigation efforts can help reduce losses following a breach, but...