this paper studies the technical efficiency of 12 branches of saman bank over the period 1387-88, relating it to the composition of staff by sex, the ratio of fixed assets to total assets, the age of the branches and the geographic ranking in development indicators of the city where the branch is located in. data envelopment analysis is used to determine the efficiency of branches. the average ...

An auctioneer wishes to sell several heterogeneous indivisible items to a group of potential bidders. Each bidder has valuations over the items but may face a budget constraint and therefore be unable to pay up to his values. In such markets, a Walrasian equilibrium may fail to exist. We develop a novel dynamic auction and prove that the auction always finds a core allocation. In the auction pr...

Immersion gratings, diffraction gratings where the incident radiation strikes the grooves while immersed in a dielectric medium, offer significant compactness and performance advantages over front-surface gratings. These advantages become particularly large for high-resolution spectroscopy in the near-IR. The production and evaluation of immersion gratings produced by fabricating grooves in sil...

We derive optimal bidding strategies for a global bidder who participates in multiple, simultaneous second-price auctions with perfect substitutes. We first consider a model where all other bidders are local and participate in a single auction. For this case, we prove, somewhat surprisingly, that the global bidder should always place non-zero bids in all available auctions, irrespective of the ...

An n–criteria problem with a finite set of vector valuations is considered. An optimality principle of this problem is given by an integer-valued parameter s, which is varied from 1 to n−1. At that, the majority and Pareto optimality principles correspond to the extreme values of the parameter. Sufficient conditions, under which the problem of finding efficient valuations corresponding to the p...

The idea of perfect competition for an economy with asymmetric information is formalized via an idiosyncratic signal process in which the private signals of almost every individual agent can influence only a negligible group of agents, and the individual agents’ relevant signals are essentially pairwise independent conditioned on the true states of nature. Thus, there is no incentive for an ind...

This paper shows how record-value theory, a branch of statistics that deals with the timing and magnitude of extreme values in sequences of random variables, can be used to nonparametrically identify the offer distribution of wages workers face. Using NLSY wage data, I show that the data supports the hypothesis that the wage offer distribution is Pareto but rejects that it is lognormal. In addi...