The aggregation of objectives in multiple criteria programming is one of the simplest and widely used approach. But it is well known that this technique sometimes fail in different aspects for determining the Pareto frontier. This paper proposes a new approach for multicriteria optimization which aggregates the objective functions and uses a line search method in order to locate an approximate ...

This paper uses the tools and techniques of generalized expected utility analysis to explore the robustness of some of the classical basic results in insurance theory to departures from the expected utility hypothesis on agents' risk preferences. The areas explored consist of individual demand for coinsurance and deductible insurance, the structure of Pareto-efficient bilateral insurance contra...

We analyze non-cooperative commodity taxation in a two-country trade model characterized by monopolistic competition and international firm and capital mobility. In this setting, taxes in one country affect foreign welfare through the relocation of mobile firms and through changes in the rents accruing to capital owners. With consumption-based taxation, these fiscal externalities exactly offset...

We consider general two-sided matching markets, so-called matching with contracts markets as introduced by Hatfield and Milgrom (2005), and analyze (Maskin) monotonic and Nash implementable solutions. We show that for matching with contracts markets the stable correspondence is monotonic and implementable (Theorems 1 and 3). Furthermore, any solution that is Pareto efficient, individually ratio...

Commodity money arises endogenously in a general equilibrium model with separate budget constraints for each transaction. Transaction costs imply differing bid and ask (selling and buying) prices. The most liquid good—with the smallest proportionate bid/ask spread—becomes commodity money. General equilibrium may not be Pareto efficient. If zero-transaction-cost money is available then the equil...

There are a number of methods for ranking decision making units (DMUs), among which calculating super efficiency and then ranking the units based on the obtained amount of super efficiency are both valid and efficient. Since most of the proposed models do not provide the projection of Pareto efficiency, a model is developed and presented through this paper based on which in the projection of Pa...

We study the allocation and exchange of indivisible objects without monetary transfers. In market design literature, some problems that fall in this category are the house allocation problem with and without existing tenants, and the kidney exchange problem. We introduce a new class of direct mechanisms that we call "trading cycles with brokers and owners," and show that (i) each mechanism in t...

This article describes a set function that maps a set of Pareto optimal points to a scalar. A proof is presented that shows that the maximization of this scalar value constitutes the necessary and sufficient condition for the function’s arguments to be maximally diverse Pareto optimal solutions of a discrete, multi-objective, optimization problem. This scalar quantity, a hypervolume based on a ...

In this article using Cuckoo Optimization Algorithm and simple additive weighting method the hybrid COAW algorithm is presented to solve multi-objective problems. Cuckoo algorithm is an efficient and structured method for solving nonlinear continuous problems. The created Pareto frontiers of the COAW proposed algorithm are exact and have good dispersion. This method has a high speed in finding ...