I summarize and extend my results establishing that limited arbitrage is necessary and sufficient for the existence of a competitive equilibrium and for the compactness of the Pareto frontier [11] (announced in [14] and [8]). In response to a comment [36], I show that the authors misunderstood my results by focussing on brief announcements [14] and [8] which did not detail the hypothesis, rathe...

In runtime enforcement of security policies, the classic requirements on monitors in order to enforce a security policy are soundness and transparency. However, there are many monitors that successfully pass this specification but they differ in complexity of both their implementation and the output they produce. In order to distinguish and compare these monitors we propose to associate cost wi...

This paper studies strategic information transmission in a dynamic environment, where a privately informed expert and a decision maker interact for a …nite number of periods. Our theoretical results argue that the dynamic cheap talk games are fundamentally di¤erent from static ones. First, information can be fully revealed. Second, there exist non monotonic equilibria. Third, there is no genera...

We show that, in a two-period economy with uncertainty in the second period, if an allocation is Pareto optimal for a given set of beliefs and remains optimal when these beliefs are changed, then the set of optimal allocations of the two economies must actually coincide. We identify equivalence classes of beliefs giving rise to the same set of Pareto optimal allocations. Journal of Economic Lit...

The existence of a Paretian and finitely anonymous ordering in the set of infinite utility streams implies the existence of a non-Ramsey set (a nonconstructive object whose existence requires the axiom of choice). Therefore, each Paretian and finitely anonymous quasi-ordering either is incomplete or does not have an explicit description. Hence, the possibility results of Svensson (1980) and of ...

Analytic equations are developed for the single-scattering properties of a spherical particle embedded in an absorbing medium, which include absorption, scattering, extinction efficiencies, the scattering phase function, and the asymmetry factor. We derive absorption and scattering efficiencies by using the near field at the surface of the particle, which avoids difficulty in obtaining the exti...

We characterize methods of dividing a cake between two bidders in a way that is incentive-compatible and Pareto-efficient. In our cake cutting model, each bidder desires a subset of the cake (with a uniform value over this subset), and is allocated some subset. Our characterization proceeds via reducing to a simple one-dimensional version of the problem, and yields, for example, a tight bound o...