3 papers
cs.GT2026
Allocation Mechanisms in Decentralized Exchange Markets with Frictions
Mario Ghossoub, Giulio Principi, Ruodu Wang
The classical theory of efficient allocations of an aggregate endowment in a pure-exchange economy has hitherto primarily focused on the Pareto-efficiency of allocations, under the…
econ.TH2026
Recursive Preferences and Ambiguity Attitudes
Massimo Marinacci, Giulio Principi, Lorenzo Stanca
Monotonicity and recursivity are central assumptions in intertemporal consumption problems under ambiguity. We show that monotone recursive preferences admit both a recursive and a…
econ.TH2024
Anticomonotonicity for Preference Axioms: The Natural Counterpart to Comonotonicity
Giulio Principi, Peter P. Wakker, Ruodu Wang
Comonotonicity (``same variation'') of random variables minimizes hedging possibilities and has been widely used, e.g., in Gilboa and Schmeidler's ambiguity models. This paper inve…