Related papers: A Geometric Analysis of Gains from Trade
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We investigate a market without money in which agents can offer certain goods (or multiple copies of an agent-specific good) in exchange for goods of other agents. The exchange must be balanced in the sense that each agent should receive a…
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We propose a model of two-way selection system. It appears in the processes like choosing a mate between men and women, making contracts between job hunters and recruiters, and trading between buyers and sellers. In this paper, we propose a…
In this paper, we study Ranking, a well-known randomized greedy matching algorithm, for general graphs. The algorithm was originally introduced by Karp, Vazirani, and Vazirani [STOC 1990] for the online bipartite matching problem with…
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In a combinatorial exchange setting, players place sell (resp. buy) bids on combinations of traded goods. Besides the question of finding an optimal selection of winning bids, the question of how to share the obtained profit is of high…
We solve exactly a simple model of trend following strategy, and obtain the analytical shape of the profit per trade distribution. This distribution is non trivial and has an option like, asymmetric structure. The degree of asymmetry…
Random geometric graphs are random graph models defined on metric spaces. Such a model is defined by first sampling points from a metric space and then connecting each pair of sampled points with probability that depends on their distance,…
The Steiner tree problem is one of the classic and most fundamental $\mathcal{NP}$-hard problems: given an arbitrary weighted graph, seek a minimum-cost tree spanning a given subset of the vertices (terminals). Byrka \emph{et al}. proposed…
This article extends, in a stochastic setting, previous results in the determination of feasible exchange ratios for merging companies. A first outcome is that shareholders of the companies involved in the merging process face both an upper…
Given an edge-weighted (metric/general) complete graph with $n$ vertices, the maximum weight (metric/general) $k$-cycle/path packing problem is to find a set of $\frac{n}{k}$ vertex-disjoint $k$-cycles/paths such that the total weight is…
Given a Poisson process on a bounded interval, its random geometric graph is the graph whose vertices are the points of the Poisson process and edges exist between two points if and only if their distance is less than a fixed given…
Extreme economic outcomes are not shaped by tails alone. They are also shaped by unequal access to opportunities. This paper develops a theory of heterogeneous extremes by taking the distribution of opportunity access as the object of…
Designing revenue optimal auctions for selling an item to $n$ symmetric bidders is a fundamental problem in mechanism design. Myerson (1981) shows that the second price auction with an appropriate reserve price is optimal when bidders'…
Prophet inequality concerns a basic optimal stopping problem and states that simple threshold stopping policies -- i.e., accepting the first reward larger than a certain threshold -- can achieve tight $\frac{1}{2}$-approximation to the…
The 2-Opt heuristic is a simple improvement heuristic for the Traveling Salesman Problem. It starts with an arbitrary tour and then repeatedly replaces two edges of the tour by two other edges, as long as this yields a shorter tour. We will…
We study a repeated trading problem in which a mechanism designer facilitates trade between a single seller and multiple buyers. Our model generalizes the classic bilateral trade setting to a multi-buyer environment. Specifically, the…
The difference set of an outcome in an auction is the set of types that the auction mechanism maps to the outcome. We give a complete characterization of the geometry of the difference sets that can appear for a dominant strategy incentive…