Concave measures and the fuzzy core of exchange economies with heterogeneous divisible commodities

Cataloged from PDF version of article.The main purpose of this paper is to prove the existence of the fuzzy core of an exchange economy with a heterogeneous divisible commodity in which preferences of individuals are given by nonadditive utility functions defined on a sigma-algebra of admissible pieces of the total endowment of the commodity. The problem is formulated as the partitioning of a measurable space among finitely many individuals. Applying the Yosida-Hewitt decomposition theorem, we also demonstrate that partitions in the fuzzy core are supportable by prices in L-1. (c) 2012 Elsevier B.V. All rights reserved

Fuzzy Coalitions and Solutions of Cooperative Games: Beyond the Market Solutions

研究成果の概要 (和文) : 伝統的な市場ゲームでは，プレイヤーは初期保有量のすべてを参加する提携に拠出することを同意した上で実現した提携利得がプレイヤーに配分されるが，ファジィ提携ではプレイヤーは必ずしも初期保有量のすべてを提供する必要はなく，その一部を自由に提供することで提携へのコミットメントの度合いを決定することができる．同質的分割可能財が存在する交換経済においては，ファジイ・コア配分が競争均衡配分に一致することが先行研究で示されている．ファジイ提携を考慮しない場合，市場メカニズムで実現できないコア配分が一般的に存在するが，交渉解の一つであるファジイ・コア配分は市場メカニズムによって実現することができることを示した．研究成果の概要 (英文) : In traditional market games, coalitional payoffs are allocated to each player contingent upon the agreement that players contribute every initial endowment to the coalitions they are participating. On the contrary, in fuzzy market games, players do not necessarily have to contribute every initial endowment to the coalitions and they are free to decide their degree of commitment by contributing partially their initial endowment to the coalitions. It is well known in the literature that in economies with homogeneous divisible commodities fuzzy core allocations coincide with competitive equilibrium allocations. Without fuzzy coalitions, in general there is a core allocation that cannot be realized through the market mechanism. Nevertheless, in this research, I demonstrated that fuzzy core allocations can be attained by the market mechanism

Macroeconomic Policy Analysis using utility function with non-constant discount factor

研究成果の概要 (和文) : 割引因子が一定でないマクロモデルを用いて、財政政策と金融政策の分析を行った。特に、逐次的効用関数と呼ばれる、割引因子が効用もしくは消費や実物貨幣残高といったマクロ変数の関数に商店を当てた。いくつかの論文を書き上げ、国際学会でプレゼンテーションを実施し、国際査読付き雑誌に投稿し、いくつかはすでに出版された。また、研究代表者は、この成果を含めた論文集「選好と国際マクロ経済学」法政大学出版局、2012を編集した。この本は2012年3月に法政大学出版局から出版された。研究成果の概要 (英文) : We conduct a public/fiscal policy analysis using macroeconomic models with non-constant discount factors. In particular, we focused on recursive utility models, in which the discount factor is a function of utility or some aggregate macroeconomic variables including consumption and real balances. We wrote some research papers to give presentations at international academic conferences and to submit to international refereed journals. Some of them have been already published. In addition, Kenji Miyazaki edited a Japanese book including our research papers. This book, titled \u27Preference and International Macroeconomics,\u27was published in March, 2012

Existence of efficient envy-free allocations of a heterogeneous divisible commodity with nonadditive utilities

This paper studies the existence of Pareto optimal, envy-free allocations of a heterogeneous, divisible commodity for a finite number of individuals. We model the commodity as a measurable space and make no convexity assumptions on the preferences of individuals. We show that if the utility function of each individual is uniformly continuous and strictly monotonic with respect to set inclusion, and if the partition matrix range of the utility functions is closed, a Pareto optimal envy-free partition exists. This result follows from the existence of Pareto optimal envy-free allocations in an extended version of the original allocation problem. © 2013 Springer-Verlag Berlin Heidelberg

Untangling hotel industry’s inefficiency: An SFA approach applied to a renowned Portuguese hotel chain

The present paper explores the technical efficiency of four hotels from Teixeira Duarte Group - a renowned Portuguese hotel chain. An efficiency ranking is established from these four hotel units located in Portugal using Stochastic Frontier Analysis. This methodology allows to discriminate between measurement error and systematic inefficiencies in the estimation process enabling to investigate the main inefficiency causes. Several suggestions concerning efficiency improvement are undertaken for each hotel studied.info:eu-repo/semantics/publishedVersio