Related papers: Connected Trading Cycles
In this paper, we propose a bilateral peer-to-peer (P2P) energy trading scheme under single-contract and multi-contract market setups, both as an assignment game, and a special class of coalitional games. {The proposed market formulation…
We consider active learning under incentive compatibility constraints. The main application of our results is to economic experiments, in which a learner seeks to infer the parameters of a subject's preferences: for example their attitudes…
We revisit the problem of designing optimal, individually rational matching mechanisms (in a general sense, allowing for cycles in directed graphs), where each player --- who is associated with a subset of vertices --- matches as many of…
The coordinated operation of interconnected but locally controlled electricity markets is generally referred to as a "coupling". In this paper we propose a new mechanism design for efficient coupling of independent electricity markets. The…
We introduce a simple benchmark model of dynamic matching in networked markets, where agents arrive and depart stochastically and the network of acceptable transactions among agents forms a random graph. We analyze our model from three…
We consider a sharing economy network where agents embedded in a graph share their resources. This is a fundamental model that abstracts numerous emerging applications of collaborative consumption systems. The agents generate a random…
Competitive systems can exhibit both hierarchical (transitive) and cyclic (intransitive) structures. Despite theoretical interest in cyclic competition, which offers richer dynamics, and occupies a larger subset of the space of possible…
The system operator's scheduling problem in electricity markets, called unit commitment, is a non-convex mixed-integer program. The optimal value function is non-convex, preventing the application of traditional marginal pricing theory to…
High performance machine learning models have become highly dependent on the availability of large quantity and quality of training data. To achieve this, various central agencies such as the government have suggested for different data…
We consider a variant of the standard Bayesian mechanism, where players evaluate their outcomes and constraints in an ex-ante manner. Such a model captures a major form of modern online advertising where an advertiser is concerned with…
We study the problem of designing mechanisms for trading networks that satisfy four desired properties: dominant-strategy incentive compatibility, efficiency, weak budget balance (WBB), and individual rationality (IR). Although there exist…
In this paper, we propose a bid optimizer for sponsored keyword search auctions which leads to better retention of advertisers by yielding attractive utilities to the advertisers without decreasing the revenue to the search engine. The bid…
The assignment game models a housing market where buyers and sellers are matched, and transaction prices are set so that the resulting allocation is stable. Shapley and Shubik showed that every stable allocation is necessarily built on a…
Since economic mechanisms are often applied to very different instances of the same problem, it is desirable to identify mechanisms that work well in a wide range of circumstances. We pursue this goal for a position auction setting and…
We consider the problem of designing incentive-compatible, ex-post individually rational (IR) mechanisms for covering problems in the Bayesian setting, where players' types are drawn from an underlying distribution and may be correlated,…
Repeated interactions are ubiquitous and known to promote social behaviour. While research often focuses on cooperation in the Prisoner's Dilemma, experimental evidence suggests repeated interactions also foster fairness. This study…
Mechanisms such as auctions and pricing schemes are utilized to design strategic (noncooperative) games for networked systems. Although the participating players are selfish, these mechanisms ensure that the game outcome is optimal with…
In many labor markets, workers and firms are connected via affiliative relationships. A management consulting firm wishes to both accept the best new workers but also place its current affiliated workers at strong firms. Similarly, a…
The reliability and security of a user in an interconnected system depends on all users' collective effort in security. Consequently, investments in security technologies by strategic users is typically modeled as a public good problem,…
Crowdsourcing websites (e.g. Yahoo! Answers, Amazon Mechanical Turk, and etc.) emerged in recent years that allow requesters from all around the world to post tasks and seek help from an equally global pool of workers. However, intrinsic…