The recent collapse of bandwidth markets motivates our study. We describe the economic framework for such a market. Examples demonstrate the problems in finite markets in which bandwidth trades in indivisible units. Competitive equilibria exist under the continuum model of perfect competition. We explore the countably inifinite economy as a model of perfect competition for such markets. Finally...

One of the most thoroughly studied aspects of the labor market is that of wage discrimination. Especially since the passage of the Equal Pay Act (1963) and the Civil Rights Act (1964), a substantial body of research has addressed the question of the extent to which minorities receive the “equal pay for equal work” that the acts set forth as a fundamental goal. Perhaps the most serious conceptua...

Women earn less than men but are not less satisfied with life. This paper argues that norms on the appropriate pay for women compared to men explain these findings. We take citizens’ approval of an equal rights amendment to the Swiss constitution as a proxy for the norm that “women and men shall have the right to equal pay for work of equal value”. We find that the gender wage gap narrows by on...

The law on equal pay requires that men and women should receive the same level of pay and associated benefits as members of the opposite sex performing the same work, like work, or work assessed as being of equal value, save that differences may be objectively justified where they are not attributed to the sex of the individuals. Work of equal value is determined by means of analytical job eval...

This study carries forward the line of enquiry that seeks to characterize precisely which security policies are enforceable by runtime monitors. In this regard, Basin et al. recently refined the structure that helps distinguish between those actions that the monitor can potentially suppress or insert in the execution, from those that the monitor can only observe. In this paper, we generalize th...

Lotteries vs. All-Pay Auctions in Fair and Biased Contests The form of contests for a single fixed prize can be determined by a designer who maximizes the contestants’ efforts. This paper establishes that, under common knowledge of the two asymmetric contestants’ prize valuations, a fair Tullock-type endogenously determined lottery is always superior to an all-pay-auction; it yields larger expe...