This paper establishes reserve price as an ethical necessity contrary to its popular interpretation as an instrument of revenue generation. It provides an axiomatic justification to reserve pricing at Vickrey auction in single as well as multiple objects settings. It also provides a multi-object...

We completely characterize the class of fair and group strategy-proof mechanisms. We consider two notions of fairness, anonymity in welfare and no-envy. Both fairness axioms, when applied with strategy-proofness, imply decision efficiency, and lead to the same class of group strategy-proof...

This article attempts to identify, from among the family of Generalised Autoregressive Conditional Heteroscedasticity (GARCH) models, the model that best describes the Indian stock market volatility by (a) building volatility models using the traditional GARCH models that accounts for asymmetry;...