Market Structure and Multidimensional Auction Design for Computational Economies PDF Download
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Author: Peter Richard Wurman
Publisher:
ISBN:
Category :
Languages : en
Pages : 248
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Book Description
Author: Peter Richard Wurman
Publisher:
ISBN:
Category :
Languages : en
Pages : 248
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Book Description
Author: Christopher A. Wilkens
Publisher:
ISBN:
Category :
Languages : en
Pages : 326
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Book Description
There is a growing research tradition in the interface between Economics and Computer Science: Economic insights and questions about incentives inform the design of systems, while concepts from the theory of computation help illuminate classical Economics problems. This dissertation presents results in both directions of the intellectual exchange. Originally designed by industry engineers, the sponsored search auction has raised many interesting questions and spurred much research in auction design. For example, early auctions were based on a first-price payment model and proved to be highly unstable -- this dissertation explores how improvements in the bidding language could restore stability. We also show that a first-price auction offers substantially better performance guarantees when a single advertiser may benefit from multiple ads. Another interesting problem arises because sponsored search auctions must operate with limited information about a user's behavior -- we show how sampling can maintain incentive compatibility even when the auctioneer incorrectly predicts the user's behavior. Computational tools also offer novel ways to understand the limits of complex economic systems. For example, a fundamental observation in this intellectual exchange is that people cannot be expected to solve computationally intractable problems. We show that this insight engenders a new form of stability we call complexity equilibria: when production has economies of scale, markets may be stable because finding a good deviation is computationally intractable. We also use techniques from communication complexity to show that equilibrium prices, even when they exist, may need to encode an impractical amount of information to guarantee that a market clears.
Author: Jorge Cardoso
Publisher: Springer
ISBN: 3319231952
Category : Computers
Languages : en
Pages : 378
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Book Description
This textbook addresses the conceptual and practical aspects of the various phases of the lifecycle of service systems, ranging from service ideation, design, implementation, analysis, improvement and trading associated with service systems engineering. Written by leading experts in the field, this indispensable textbook will enable a new wave of future professionals to think in a service-focused way with the right balance of competencies in computer science, engineering, and management. Fundamentals of Service Systems is a centerpiece for a course syllabus on service systems. Each chapter includes a summary, a list of learning objectives, an opening case, and a review section with questions, a project description, a list of key terms, and a list of further reading bibliography. All these elements enable students to learn at a faster and more comfortable peace. For researchers, teachers, and students who want to learn about this new emerging science, Fundamentals of Service Systems provides an overview of the core disciplines underlying the study of service systems. It is aimed at students of information systems, information technology, and business and economics. It also targets business and IT practitioners, especially those who are looking for better ways of innovating, designing, modeling, analyzing, and optimizing service systems.
Author: Clemens van Dinther
Publisher: Springer Nature
ISBN: 303084286X
Category : Technology & Engineering
Languages : en
Pages : 245
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Book Description
This book focuses on market/regulatory issues concerning smart grid applications, business cases and use cases. It covers the most relevant aspects of the smart grid—design considerations, economics, legal aspects and system management—and includes exercises at the end of each chapter. Since renewable energy generation is weather-dependent, it is more volatile, which affects market prices and the need for flexibility options including demand side management. In order to balance supply and demand in a sustainable manner also with high shares of renewables, energy systems need to be enhanced by smart grid technologies. This co-evolutionary transformation of the energy system, economic, societal, political and regulatory domains is challenging and calls for an integrated and interdisciplinary approach. This book provides an essential basis to prepare lecturers and students for engaging in the new energy world.
Author: Daniel Veit
Publisher: Springer Science & Business Media
ISBN: 3540205004
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
Electronic negotiations concern transactions on the basis of electronic media, such as the Internet. Platforms have been developed to aid participants in electronic markets during the agreement phase. The key activity in this is the matching of offers and requests, for which we need a ranking of the alternatives. In this book the author defines a framework in which a ranking can be generated in order to acquire an optimal decision for a desired transaction - this process is called matchmaking. The author introduces a generic framework for multidimensional, multiattribute matchmaking, its implementation, and an analysis of it. The genericity of the author’s approach means that the implementation, realized as a multiagent system, can represent both offering and requesting agents, and the framework can be applied to a huge variety of applications. The use cases in the book are derived from the human resources domain, and thus involve quite complex matchmaking. The author’s presentation is thorough and self-contained. He provides definitions of the relevant business and computer science terms, and detailed explanations of the underlying mathematical tools and software implementations.
Author: Rolf Klein
Publisher: Springer Science & Business Media
ISBN: 354000579X
Category : Computers
Languages : en
Pages : 366
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Book Description
By presenting state-of-the-art aspects of theoretical computer science and practical applications in various fields, this book commemorates the 60th birthday of Thomas Ottmann. The 26 research papers presented span the whole range of Thomas Ottmann's scientific career, from formal languages to algorithms and data structures, from topics in practical computer science like software engineering or database systems to applications of Web technology, groupware, and e-learning.
Author: Federico Echenique
Publisher: Cambridge University Press
ISBN: 1108935052
Category : Computers
Languages : en
Pages : 722
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Book Description
The rich, multi-faceted and multi-disciplinary field of matching-based market design is an active and important one due to its highly successful applications with economic and sociological impact. Its home is economics, but with intimate connections to algorithm design and operations research. With chapters contributed by over fifty top researchers from all three disciplines, this volume is unique in its breadth and depth, while still being a cohesive and unified picture of the field, suitable for the uninitiated as well as the expert. It explains the dominant ideas from computer science and economics underlying the most important results on market design and introduces the main algorithmic questions and combinatorial structures. Methodologies and applications from both the pre-Internet and post-Internet eras are covered in detail. Key chapters discuss the basic notions of efficiency, fairness and incentives, and the way market design seeks solutions guided by normative criteria borrowed from social choice theory.
Author: Martin Bichler
Publisher: Cambridge University Press
ISBN: 1316800245
Category : Computers
Languages : en
Pages : 297
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Book Description
The digital economy led to many new services where supply is matched with demand for various types of goods and services. More and more people and organizations are now in a position to design market rules that are being implemented in software. The design of markets is challenging as it needs to consider strategic behavior of market participants, psychological factors, and computational problems in order to implement the objectives of a designer. Market models in economics have not lost their importance, but the recent years have led to many new insights and principles for the design of markets, which are beyond traditional economic theory. This book introduces the fundamentals of market design, an engineering field concerned with the design of real-world markets.
Author: João L. Monteiro
Publisher: Springer
ISBN: 0387356177
Category : Technology & Engineering
Languages : en
Pages : 717
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Book Description
Towards the Knowledge Society is a state-of-the-art book covering innovative trends in the design, implementation and dissemination of eCommerce, eBusiness, and eGovernment. The book contains recent results of research and development in the areas of: - eGoverment; | - eMarkets; - eLearning; - eBusiness (B2B and B2C); - Trust, Security and Fraud; - Public Services and Health; - Design of I.S., Web and Technology Systems; - Applications and Procedures for eCommerce/eBusiness. Towards the Knowledge Society comprises the proceedings of I3E 2002, the Second International Conference on eCommerce, eBusiness, eGovernment, which was sponsored by the International Federation for Information Processing (IFIP) and held in Lisbon, Portugal in October 2002.
Author: Inbal Talgam Cohen
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
A fundamental problem in economics is how to allocate precious and scarce resources, such as radio spectrum or the attention of online consumers, to the benefit of society. The vibrant research area of market design, recognized by the 2012 Nobel Prize in economics, aims to develop an engineering science of allocation mechanisms based on sound theoretical foundations. Two central assumptions are at the heart of much of the classic theory on resource allocation: the common knowledge and substitutability assumptions. Relaxing these is a prerequisite for many real-life applications, but involves significant informational and computational challenges. The starting point of this dissertation is that the computational paradigm offers an ideal toolbox for overcoming these challenges in order to achieve a robust and applicable theory of market design. We use tools and techniques from combinatorial optimization, randomized algorithms and computational complexity to make contributions on both the informational and computational fronts: (I) We design simple mechanisms for maximizing seller revenue that do not rely on common knowledge of buyers' willingness to pay. First we show that across many different markets -- including notoriously challenging ones in which the goods are heterogeneous -- the optimal revenue benchmark can be surpassed or approximated by adding buyers or limiting supplies, and then applying the standard Vickrey (second-price) mechanism. We also show how, by removing the common knowledge assumption, the classic theory of revenue maximization expands to encompass the realistic but complex case in which buyers are interdependent in their willingness to pay. (II) We prove positive and negative results for maximizing social welfare without substitutability, i.e., without the convexity property known to drive economic efficiency. On the positive side, we design natural greedy mechanisms for two-sided markets with strong incentive properties, whose welfare performance depends on the market's distance from substitutability. On the negative side, we show how computational challenges related to complementarity lead to the economic failure of competitive markets, in the sense that there do not exist simple prices that guide such a market to an efficient allocation. These results carry implications for the practice of market design, both for revenue-maximizing sellers such as Internet companies running online auctions, and for welfare-maximizing policy makers such as governments running spectrum auctions.
