This paper introduces and studies a random arrival rule for bankruptcy problems with nontransferable utility. generalizes the transferable utility which assigns unique efficient allocation proportional to sum of marginal vectors. We provide two axiomatic characterizations based on symmetry monotonicity, respectively.

In this paper we ask whether arbitrage-free prices are obtained by utility maximization. This is found to be true for any given investor, provided that one considers the marginal utility-based prices relative to all initial endowments with finite utility.

The shortage of organs has led centers to expand their criteria for the acceptance of marginal donors. The combination of multiple marginal factors seems to be additive on graft injury. In this review, the utility of various marginal donors in patients requiring liver transplantation will be described, including older donors, steatotic livers, non-heart-beating donors, donors with viral hepatit...

The paper shows that if utility is cardinally measurable and fully interpersonally comparable and the utility profile satisfies (a) a happier person has lower marginal utility of the numeraire or wealth, and (b) “everybody is equally unhappy in hell,” the utilitarian criterion is egalitarian for quasilinear economies or Gorman-form preferences . JEL Classification: D6

According to the harmonic sequence paradox, an expected utility decision maker's willingness to pay for a gamble whose expected payoffs evolve according to the harmonic series is finite if and only if his marginal utility of additional income becomes zero for rather low payoff levels. Since the assumption of zero marginal utility is implausible for finite payoff levels, expected utility theory ...

We study utility games (Vetta, FOCS 2002) where a set of players join teams to produce social utility, and receive individual utility in the form of payments in return. These games have many natural applications in competitive settings such as labor markets, crowdsourcing, etc. The efficiency of such a game depends on the profit sharing mechanism – the rule that maps utility produced by the pla...

We present a multi-dimensional, multistep negotiation mechanism for task allocation among cooperative agents based on distributed search. This mechanism uses marginal utility gain and marginal utility cost to structure this search process, so as to find a solution that maximizes their combined utility. These two utility values together with temporal constraints summarize the agents’ local infor...

In this paper we provide estimates of the coefficient of relative risk aversion using information on selfreports of subjective personal well-being from three datasets: the Gallup World Poll, the European Social Survey, and the World Values Survey. We additionally consider the implications of allowing for health state dependence in the utility function on estimates of risk aversion and examine h...

Multi-agent paradigms have been developed for the negotiation and brokering in B2C e-commerce .Few of the models consider the mental states and social settings (trust and reputation) but rarely any model depicts their combination. In this work, we present three mathematical models. First cognitive computational model which is combined model of belief, desire, intention (BDI) model for agent’s m...