We develop optimal VCG mechanisms in order to assign identical economic “bads” (for example, costly tasks) to agents. The optimal non-deficit VCG mechanism achieves asymptotic budget balance, yet the non-deficit requirement is incompatible with reasonable welfare bounds. If we omit the non-deficit requirement, individual rationality greatly changes the relationship between burning a budget surp...

In a bilateral bargaining problem with private values, Hagerty and Rogerson (1987) showed that essentially all dominant strategy incentive compatible, ex post individually rational, and budget balanced mechanisms are posted-price mechanisms, where a price is drawn from a distribution, and trade occurs if both players benefit from trading at this price. We relax budget balancedness to feasibilit...

Consider two sellers each of whom has one unit of an indivisible good and two buyers each of whom is interested in buying one unit. The sellers simultaneously set reserve prices and use second-price auctions as rationing device. An equilibrium in pure strategies where each seller has a regular customer is characterized. The result is applied in order to demonstrate that not allowing sellers to ...

Most of the canonical macroeconomic models simulate liquidity anomalies by changing economic fundamentals or adding massive financial shock to firms’ collateral constraints, but a few facts somehow tell different story. Instead relying on exogenous shocks, we introduce uncertainty into an otherwise classical framework and try answer what worsens aggregate in absence simulations firm dynamics fi...

In this article, I assess the prospects for limitarian thesis that someone has too much wealth if they exceed a specific threshold. Limitarianism claims there are good political and/or ethical reasons to prevent people from having such ‘surplus wealth’, example, because it no moral value holder or allowing have surplus less than redistributing it. Drawing on recent literature distributive justi...

The late Chile born biologist Francisco J. Varela has been influential in theoretical biology throughout the last three decades of the 20. century. His thinking shows a marked development from a biologically founded constructivism (developed together with his fellow citizen, Humberto Maturana, with the main key word being “autopoiesis theory”) to a more phenomenological oriented standpoint, whi...

O The main reasons for the lack of faculty to meet the demand for more nurses include the increased age of the current faculty and the declining number of years ieft to teach, expected increases in facuity retirements, less compensation for academic teaching than positions in clinical areas for master's-prepared nurses, and finaiiy, not enough master's and doctoral-prepared nurses to fiii the n...

Monthly discharge is one of the most important factors considered in designs and hydrological works. Some watersheds are not equipped with needed hydrometric equipment. In such a case average monthly discharge could be estimated from regional monthly water balance models of representative watersheds. In this study, Thornthwaite & Mather (TM) model were used in the Pishkouh watershed in arid cli...