Random Choice and Private Information

Equality and Private Choice

Payments Systems with Random Matching and Private Information

A model of dynamic risk-sharing is constructed where agents meet pairwise and at random, and there is private information about endowments. Risk sharing is accomplished through dynamic contracts involving credit transactions, and through monetary exchange. A Friedman rule is optimal, and solutions are computed. The welfare costs of in‡ation and the e¤ects of in‡ation on the distribution of cons...

Private Public Choice

The fields of social choice theory and mechanism design deal with the aggregation of conflicting preferences in a group of agents, may they be electronic or human. Two central problems in these areas are the social choice problem and the mechanism design problem. We argue that the protection of individual preferences has not been considered so far and introduce the preference protection problem...

Fuzzy Random Utility Choice Models: The Case of Telecommuting Suitability

Random utility models have been widely used in many diverse fields. Considering utility as a random variable opened many new analytical doors to researchers in explaining behavioral phenomena. Introducing and incorporating the random error term into the utility function had several reasons, including accounting for unobserved variables. This paper incorporates fuzziness into random utility mode...

Choice Function and Random Hyperheuristics

A hyperheuristic is a high-level heuristic which adaptively controls the combination of several low-level knowledgepoor heuristics so that while using only cheap and easyto-implement low-level heuristics, we may achieve solution quality approaching that of an expensive knowledgerich approach. Hyperheuristics have been successfully applied by the authors to three real-world problems of personnel...