This paper introduces a bi-objective winner-determination problem and presents a multiobjective genetic algorithm to solve it. The problem examined arises in the procurement of transportation contracts via combinatorial auctions. It is modeled as an extension to the set-covering problem and considers the minimization of the total procurement costs and the maximization of the service-quality lev...

This paper considers a market with adverse selection in the spirit of Rothschild and Stiglitz (Quart. J. Econ. 90 (1976) 629). The major departure from existing approaches is that we model a decentralized market that is open-ended and constantly refilled by new participants, e.g., by new workers and firms in the case of a labor market. The major novelty of this approach is that the distribution...

This paper considers a firm whose potential employees have private information on both their productivity and the extent of their fairness concerns. Fairness is modelled as inequity aversion, where fair-minded workers suffer if their colleagues get more income net of production costs. Screening workers with equal productivity but different fairness concerns is shown to be impossible if both typ...

This paper considers a market with adverse selection in the spirit of Rothschild and Stiglitz [20]. The major departure from existing approaches is that we model a decentralized market that is open-ended and constantly refilled by new participants, e.g., by new workers and firms in the case of a labor market. The major novelty of this approach is that the distribution of types in the market bec...

Nowadays, belief in the criteria and conditions of interactions with an organization to promote customer relationships is somehow tied to the organizational performance, and its final goal is of great importance. In the literature on organizational behavior, this belief is defined as the “psychological contract”. The intention of this mixed research is to identify and discover the contents of p...

This paper studies the joint effect of conservatism and aggregation on the cost of equity capital and the efficiency of debt contracts. In the model, a firm’s two assets are valued at either the lower-of-cost-or-market or fair value and the accounting report aggregates the value of the two assets. While the process of aggregation leads inevitably to a loss of information, what information is lo...

On January 25, 2012, Medicare (CMS) held a meeting to consider issues related to the current management of carotid arterial disease. One of the most important of these issues is whether or not Medicare should expand reimbursement for carotid artery stenting (CAS) to include patients with asymptomatic and low or standard surgical risk symptomatic carotid stenosis. Opinions vary widely regarding ...