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Addressing the question of how to achieve optimal decision-making under risk and uncertainty is crucial for enhancing the capabilities of artificial agents that collaborate with or support humans. In this work, we address this question in…
In this paper we reexamine an assumption that underpinned the development of the Internet architecture, namely that a stateless and loosely synchronous point-to-point datagram delivery service would be sufficient to meet the needs of all…
Social networks have a scale-free property and community structure, and many problems in life have the characteristic of public goods, such as resource shortage. Due to different preferences of individuals, there exist individuals who adopt…
Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market.…
Currently, industrial sectors are transforming their business processes into e-services and component-based architectures to build flexible, robust, and scalable systems, and reduce integration-related maintenance and development costs.…
We develop from basic economic principles a continuous-time model for a large investor who trades with a finite number of market makers at their utility indifference prices. In this model, the market makers compete with their quotes for the…
Orbit-use management efforts can be structured as binding national regulatory policies or as self-enforcing international treaties. New treaties to control space debris growth appear unlikely in the near future. Spacefaring nations can…
Inspired by the fact that people have diverse propensities to punish wrongdoers, we study a spatial public goods game with defectors and different types of punishing cooperators. During the game, cooperators punish defectors with…
Background: Open innovation highlights the potential benefits of external collaboration and knowledge-sharing, often exemplified through Open Source Software (OSS). The public sector has thus far mainly focused on the sharing of Open…
What are the effects of investing in public infrastructure? We answer this question with a New Keynesian model. We recast the model as a Markov chain and develop a general solution method that nests existing ones inside/outside the zero…
Informal and privatized transit services, such as minibuses and shared auto-rickshaws, are integral to daily travel in large urban metropolises, providing affordable commutes where a formal public transport system is inadequate and other…
This paper analyzes the pricing of transit traffic in wireless peer-to-peer networks using the concepts of direct and indirect network externalities. We first establish that without any pricing mechanism, congestion externalities overwhelm…
It would seem that the present dry economic times impose a very precise focus for science in general and physics in particular: research, possibly of applied type. However in doing so two basic pillars of a healthy future for science are…
Open source projects have made incredible progress in producing transparent and widely usable machine learning models and systems, but open source alone will face challenges in fully democratizing access to AI. Unlike software, AI models…
Future advances in AI that automate away human labor may have stark implications for labor markets and inequality. This paper proposes a framework to analyze the effects of specific types of AI systems on the labor market, based on how much…
Public engagement (PE) initiatives can lead to a long term public support of science. However most of the real impact of PE initiatives within the context of long-term science policy is not completely understood. An examination of the…
Private credit assets under management grew from \$158 billion in 2010 to nearly \$2 trillion globally by mid-2024, fundamentally reshaping corporate credit markets. This paper provides a systematic survey of the academic literature on…
In sponsored content and service markets, the content and service providers are able to subsidize their target mobile users through directly paying the mobile network operator, to lower the price of the data/service access charged by the…
Technology advancements on sensing, communications, and computing directly accelerate the recent development of Internet of Things (IoT), leading to rich and diverse applications in industry and business processes. For enabling IoT…
In this paper, a transmission-distribution systems flexibility market is introduced, in which system operators (SOs) jointly procure flexibility from different systems to meet their needs (balancing and congestion management) using a common…