Related papers: Markets are Dead, Long Live Markets
We study the bilateral trade problem: one seller, one buyer and a single, indivisible item for sale. It is well known that there is no fully-efficient and incentive compatible mechanism for this problem that maintains a balanced budget. We…
Machine learning models play a key role for service providers looking to gain market share in consumer markets. However, traditional learning approaches do not take into account the existence of additional providers, who compete with each…
The dynamics of financial markets are driven by the interactions between participants, as well as the trading mechanisms and regulatory frameworks that govern these interactions. Decision-makers would rather not ignore the impact of other…
We consider the age-old problem of allocating items among different agents in a way that is efficient and fair. Two papers, by Dolev et al. and Ghodsi et al., have recently studied this problem in the context of computer systems. Both…
This paper presents karma mechanisms, a novel approach to the repeated allocation of a scarce resource among competing agents over an infinite time. Examples include deciding which ride hailing trip requests to serve during peak demand,…
In the large financial market, which is described by a model with countably many traded assets, we formulate the problem of the expected utility maximization. Assuming that the preferences of an economic agent are modeled with a stochastic…
Students of Computer Science often wonder when, exactly, one can apply a greedy algorithm to a problem, and when one must use the more complicated and time-consuming techniques of dynamic programming. This paper argues that the existing…
In this work we investigate the inefficiency of the electricity system with strategic agents. Specifically, we prove that without a proper control the total demand of an inefficient system is at most twice the total demand of the optimal…
As the number of resources on chip multiprocessors (CMPs) increases, the complexity of how to best allocate these resources increases drastically. Because the higher number of applications makes the interaction and impacts of various memory…
We study the problem of collaborative machine learning markets where multiple parties can achieve improved performance on their machine learning tasks by combining their training data. We discuss desired properties for these machine…
The international competitive market causes the increasing of shorten product life cycle and product development process with the improvement in term of time, cost and quality while increasing the waste generation. Product life cycle…
Evaluating the financial performance of manufacturing firms requires consideration of both the time value of money and the relative importance of multiple decision criteria. Conventional approaches relying solely on deterministic…
With recent development of artificial intelligence, it is more common to adopt AI agents in economic activities. This paper explores the economic actions of agents, including human agents and AI agents, in an economic game of trading…
Recommender systems have generated tremendous value for both users and businesses, drawing significant attention from academia and industry alike. However, due to practical constraints, academic research remains largely confined to offline…
Cloud Computing emerges from the global economic crisis as an option to use computing resources from a more rational point of view. In other words, a cheaper way to have IT resources. However, issues as security and privacy, SLA (Service…
One of the recognized principal issues brought along by the steadfast migration towards power electronic interfaced energy sources is the loss of rotational inertia. In conventional power systems, the inertia of the synchronous machines…
This study simulates the evolution of artificial economies in order to understand the tax relevance of administrative boundaries in the quality of life of its citizens. The modeling involves the construction of a computational algorithm,…
We study two-sided many-to-one matching markets with transferable utilities, e.g., labor and rental housing markets, in which money can exchange hands between agents, subject to distributional constraints on the set of feasible allocations.…
This study explores the potential of large language models (LLMs) to conduct market experiments, aiming to understand their capability to comprehend competitive market dynamics. We model the behavior of market agents in a controlled…
In this paper, we propose a model of decentralized energy storages, who serve as instruments to shift energy supply intertemporally. From storages' perspective, we investigate their optimal buying or selling decisions under market…