Notes • Immigrant students face barriers to postsecondary education. Often, immigrant students are required to pay higher tuition rates than citizen students which can have negative implications for immigrant students’ postsecondary outcomes. Hispanic non-citizens, in particular, maintain very low postsecondary enrollment rates. • In 2001, Texas became the first state to legally guarantee in-st...

We identify how to share costs locally in weighted congestion games with polynomial cost functions to minimize the worst-case price of anarchy (POA). First, we prove that among all cost-sharing methods that guarantee the existence of pure Nash equilibria, the Shapley value minimizes the worst-case POA. Second, if the guaranteed existence condition is dropped, then the proportional cost-sharing ...

This paper discusses Kenya’s macroeconomic policies during the 1980s. It specifically analyzes issues of food security as it relates to market performance and policies. This is followed by projections of the effects of various policy changes and market conditions on grain production, consumption, and imports over a five year period. It appears that structural adjustment policies have consequenc...

We study the Black-Scholes equation in stochastic volatility models. In particular, we show that the option price is the unique classical solution to a parabolic differential equation with a certain boundary behaviour for vanishing values of the volatility. If the boundary is attainable, then this boundary behaviour serves as a boundary condition and guarantees uniqueness in appropriate functio...

We introduce endogenous fees for participating in second-price auction which we use for a two-stage mechanism to solve King Solomon’s dilemma. They are positive for all agents. They are nonetheless shown to maintain the agents’ incentives for truthful bidding and guarantee participation by the highest-value agent. This feature of the endogenous fees is powerful enough for the efficient outcome ...

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Recently, innovation-oriented firms have been competing along dimensions other than price lead time being one such dimension. Increasingly, customers are favoring lead time guarantees as a means to hedge supply chain risks. For a maketo-order environment, we explicitly model the impact of a lead time guarantee on customer demands and production planning. We study how a firm can integrate demand...

An increasing reliance on commercial tools for non-originality investigation of student submissions is taking academic integrity beyond its comfortable zone. There is no guarantee if such tools will continue to be available and, if they are, that they will be available at a reasonable price. Further the technical underpinning of such tools is unclear and has not been made publicly available. Th...

Researchers have found that voting can help increase voluntary contributions to a public good—provided enforcement through a third party. Not all collective agreements, however, guarantee third-party enforcement. We design an experiment to explore whether a voting rule with and without endogenous punishment increases contributions to a public good. Our results suggest that voting by itself does...

Previous studies on the price and time trade-off in real estate focused primarily on the real estate traded in the secondary market. This relation, however, depends rather critically on seller motivations. This study examines the price and time trade-off for new residential developments where developer motivations differ substantially from individual seller motivations. In addition, by using th...