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The excessive compensation packages of CEOs of U.S. corporations in recent years have brought to the foreground the issue of fairness in economics. The conventional wisdom is that the free market for labor, which determines the pay…
Economic institutions often influence market outcomes not by directly controlling sellers' menus, but by shaping the market composition sellers face. We study the welfare effects of this upstream choice in a monopoly screening model. An…
Answer Set Planning refers to the use of Answer Set Programming (ASP) to compute plans, i.e., solutions to planning problems, that transform a given state of the world to another state. The development of efficient and scalable answer set…
Assortment optimization is an important problem that arises in many industries such as retailing and online advertising where the goal is to find a subset of products from a universe of substitutable products which maximize seller's…
This paper focuses on the coordination of a large population of dynamic agents with private information over multiple periods. Each agent maximizes the individual utility, while the coordinator determines the market rule to achieve group…
Modern cyber-physical systems (e.g., robotics systems) are typically composed of physical and software components, the characteristics of which are likely to change over time. Assumptions about parts of the system made at design time may…
This paper shows how we can combine logical representations of actions and decision theory in such a manner that seems natural for both. In particular we assume an axiomatization of the domain in terms of situation calculus, using what is…
We design mechanisms for maintaining public goods which require periodic in-kind contributions, motivated by incentives problems facing crowd-sourced recommender systems. Utilitarian welfare is maximized by redistributive policies which are…
Localisation and circularity in perishable food supply chains are essential for sustainability. Poor allocation of time-sensitive food leads to waste, higher transport emissions, and unnecessary long-distance sourcing. Algorithms used in…
Lindahl equilibrium is a solution concept for allocating a fixed budget across several divisible public goods. It always lies in the weak core, meaning that the equilibrium allocation satisfies desirable stability and proportional fairness…
The rising share of volatile renewable generation increases the demand for flexibility in the electricity grid. Flexible capacity can be offered by industrial energy systems through participation on either the continuous intraday,…
The evolution in the design of modern parallel platforms leads to revisit the scheduling jobs on distributed heterogeneous resources. The goal of this survey is to present the main existing algorithms, to classify them based on their…
We examine two-sided markets where players arrive stochastically over time and are drawn from a continuum of types. The cost of matching a client and provider varies, so a social planner is faced with two contending objectives: a) to reduce…
Humans flexibly construct internal models to navigate novel situations. To be useful, these internal models must be sufficiently faithful to the environment that resource-limited planning leads to adequate outcomes; equally, they must be…
Matching markets play a prominent role in economic theory. A prime example of such a market is the sponsored search market. Here, as in other markets of that kind, market equilibria correspond to feasible, envy free, and bidder optimal…
The divergence in globalization strategies between the US (retrenchment and polarization) and China (expansion) presents a puzzle that traditional distributional theories fail to fully explain. This paper offers a novel framework by…
An open market is a subset of an entire equity market composed of a certain fixed number of top capitalization stocks. Though the number of stocks in the open market is fixed, the constituents of the market change over time as each…
Purpose: The model allocates the system components orders to the suppliers to minimize the parts price and the system construction delay penalties and maximize the system availability during its use. It considers the quantity-based discount…
Economic growth is often associated with diversification of economic activities. Making a product in a country is dependent on having, and acquiring, the capabilities needed to make the product, making the process path-dependent. We derive…
This paper concerns the mechanism design for online resource allocation in a strategic setting. In this setting, a single supplier allocates capacity-limited resources to requests that arrive in a sequential and arbitrary manner. Each…