No abstract

This paper contributes to the literature on decision making under multiple probability models by studying a class of variational preferences. These preferences are defined in terms of Fréchet mean utility functionals, which are based on the Wasserstein metric in the space of probability models. In order to produce a measure that is the “closest” to all probability models in the given set, we find the barycenter of the set. We derive explicit expressions for the Fréchet–Wasserstein mean utility functionals and show that they can be expressed in terms of an expansion that provides a tractable link between risk aversion and ambiguity aversion. The proposed utility functionals are illustrated in terms of two applications. The first application allows us to define the social discount rate under model uncertainty. In the second application, the functionals are used in risk securitization. The barycenter in this case can be interpreted as the model that maximizes the probability that different decision makers will agree on, which could be useful for designing and pricing a catastrophe bond. This paper was accepted by Manel Baucells, decision analysis.

No abstract

International negotiations often have to be reached and ratified even though the parties involved have diverging opinions and interests. One of the common protocols used in order to achieved consensus is to make use of a neutral agent, called the facilitator whose role is to assist the procedure by allowing communication equally among different parts and initiate the procedure by a proposal which is more likely to be accepted by all decision makers. A model of this procedure is presented, providing a good candidate for the initial proposal of the facilitator and quantifying various concepts such as the bargaining power of each party.

Abstract:In this paper, we provide a critical overview of the current migration policies of the EU as framed by the recent amendments of the EU migration policies since 2015. We highlight that the construction of the migration policy is a constitutive element of the spatial process of reorganization of territorial policies through the combination and diffusion of state, regional and global. We show that the perception of permanent and static migration pressure, and countries' specialization in migration are the basis for diffusion of asylum and migration policies to a number of different countries imposing similar migration systems and establishing a global governance of migration regime. The paper highlights a geographic and political change in migration and border management, through the patterns of EU Member States cooperation, and in particular their reluctance to establish a common asylum system based on solidarity and the focus on substituting the lack of a common asylum system by bilateral externalization agreements the main objective of which is the management of migration and border control rather than guaranteeing asylum and refugee policies.