Related papers: Obstacles to Redistribution Through Markets and On…
In this paper, we study platforms where resources and jobs are spatially distributed, and resources have the flexibility to strategically move to different locations for better payoffs. The price of the service at each location depends on…
In this paper, an optimization problem with uncertain constraint coefficients is considered. Possibility theory is used to model the uncertainty. Namely, a joint possibility distribution in constraint coefficient realizations, called…
This paper studies the time-varying structure of the equity market with respect to market capitalization. First, we analyze the distribution of the 100 largest companies' market capitalizations over time, in terms of inequality,…
We study the mechanism design problem of selling $k$ items to unit-demand buyers with private valuations for the items. A buyer either participates directly in the auction or is represented by an intermediary, who represents a subset of…
We compare two competing methodologies of market zones identification under the criterion of social welfare maximization: (i) consensus clustering of Locational Marginal Prices over different wind scenarios and (ii) congestion contribution…
We study equilibria of markets with $m$ heterogeneous indivisible goods and $n$ consumers with combinatorial preferences. It is well known that a competitive equilibrium is not guaranteed to exist when valuations are not gross substitutes.…
We study the problem of designing posted-price mechanisms in order to sell a single unit of a single item within a finite period of time. Motivated by real-world problems, such as, e.g., long-term rental of rooms and apartments, we assume…
In economics, there are many ways to describe the interaction between a "seller" and a "buyer". The most common one, with which we interact almost every day, is selling for a fixed price. This option is perfect for selling a mass product,…
We address a fundamental problem that is systematically encountered when modeling complex systems: the limitedness of the information available. In the case of economic and financial networks, privacy issues severely limit the information…
We investigate crowdsourcing algorithms for finding the top-quality item within a large collection of objects with unknown intrinsic quality values. This is an important problem with many relevant applications, for example in networked…
In standard fair division models, we assume that all agents are selfish. However, in many scenarios, division of resources has a direct impact on the whole group or even society. Therefore, we study fair allocations of indivisible items…
Market price systems constitute a well-understood class of mechanisms that under certain conditions provide effective decentralization of decision making with minimal communication overhead. In a market-oriented programming approach to…
We study a market mechanism that sets edge prices to incentivize strategic agents to efficiently share limited network capacity. In this market, agents form coalitions, with each coalition sharing a unit capacity of a selected route and…
In this paper, we consider the problem of fair division of indivisible goods when the allocation of goods impacts society. Specifically, we introduce a second valuation function for each agent, determining the social impact of allocating a…
In fair division of indivisible goods, using sequences of sincere choices (or picking sequences) is a natural way to allocate the objects. The idea is the following: at each stage, a designated agent picks one object among those that…
The relationships between diversity, productivity and scale determine much of the structure and robustness of complex biological and social systems. While arguments for the link between specialization and productivity are common, diversity…
Systemic bias with respect to gender, race and ethnicity, often unconscious, is prevalent in datasets involving choices among individuals. Consequently, society has found it challenging to alleviate bias and achieve diversity in a way that…
We forecast the full conditional distribution of macroeconomic outcomes by systematically integrating three key principles: using high-dimensional data with appropriate regularization, adopting rigorous out-of-sample validation procedures,…
The distribution of wealth among the members of a society is herein assumed to result from two fundamental mechanisms, trade and investment. An empirical distribution of wealth shows an abrupt change between the low-medium range, that may…
We develop a nonparametric approach to identify and estimate consumer preferences and unobserved heterogeneity under nonlinear price schedules. Leveraging variation across multiple price schedules, we show that both the utility function and…