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The society's insatiable appetites for personal data are driving the emergency of data markets, allowing data consumers to launch customized queries over the datasets collected by a data broker from data owners. In this paper, we study how…
We study the problems of pricing an indivisible product to consumers who are embedded in a given social network. The goal is to maximize the revenue of the seller. We assume impatient consumers who buy the product as soon as the seller…
We ask if participants in a choice experiment with repeated presentation of the same menus and no feedback provision: (i) exhibit overall behaviour that is consistent with ordinal and expected utility theory under *weak* preferences; (ii)…
In the quest for market mechanisms that are easy to implement, yet close to optimal, few seem as viable as posted pricing. Despite the growing body of impressive results, the performance of most posted price mechanisms however, rely…
We look at price formation in a retail setting, that is, companies set prices, and consumers either accept prices or go someplace else. In contrast to most other models in this context, we use a two-dimensional spatial structure for…
This paper shows that in suitable markets, even with out-of-equilibrium trade allowed, a simple price update rule leads to rapid convergence toward the equilibrium. In particular, this paper considers a Fisher market repeated over an…
Recommender systems create enormous value for businesses and their consumers. They increase revenue for businesses while improving the consumer experience by recommending relevant products amidst huge product base. Product bundling is an…
Firms' algorithm development practices are often homogeneous. Whether firms train algorithms on similar data, aim at similar benchmarks, or rely on similar pre-trained models, the result is correlated predictions. We model the impact of…
This paper investigates whether spatial proximity shapes psychological-pricing choices on Austria's C2C marketplace willhaben. Two web-scraped snapshots of 826 Woom Bike listings - a standardised product sold on the platform reveal that…
This paper studies nonparametric identification and counterfactual bounds for heterogeneous firms that can be ranked in terms of productivity. Our approach works when quantities and prices are latent, rendering standard approaches…
We study oligopolistic competition in service markets where firms offer a service to customers. The service quality of a firm - from the perspective of a customer - depends on the congestion and the charged price. A firm can set a price for…
Data as a commodity has always been purchased and sold. Recently, web services that are data marketplaces have emerged that match data buyers with data sellers. So far there are no guidelines how to price queries against a database. We…
So-called 'fast fashion' consumption, amplified through cost-effective e-commerce, constitutes a major factor negatively impacting climate change. A recently noted strategy to motivate consumers to more sustainable decisions is digital…
Recently, the volatility associated with marginal prices has increased due to large scale integration of renewable generation. Price volatility is undesirable from a consumer perspective. To address this issue, we present a framework for…
This study explores how the relatedness density of amenities influences consumer buying patterns, focusing on multi-purpose shopping preferences. Using Seoul's credit card data from 2018 to 2023, we find a clear preference for shopping at…
Many algorithms that are originally designed without explicitly considering incentive properties are later combined with simple pricing rules and used as mechanisms. The resulting mechanisms are often natural and simple to understand. But…
Duality of linear programming is a standard approach to the classical weighted maximum matching problem. From an economic perspective, the dual variables can be regarded as prices of products and payoffs of buyers in a two-sided matching…
We study the fair allocation of a cake, which serves as a metaphor for a divisible resource, under the requirement that each agent should receive a contiguous piece of the cake. While it is known that no finite envy-free algorithm exists in…
We consider a periodical equilibrium pricing problem for multiple firms over a planning horizon of T periods. At each period, firms set their selling prices and receive stochastic demand from consumers. Firms do not know their underlying…
Envy-freeness is one of the most prominent fairness concepts in the allocation of indivisible goods. Even though trivial envy-free allocations always exist, rich literature shows this is not true when one additionally requires some…