Posted Price Offers in Internet Auction Markets

Posted Price Offers in Internet Auction Markets PDF Author: Stefan Seifert
Publisher: Springer Science & Business Media
ISBN: 3540352686
Category : Business & Economics
Languages : en
Pages : 194

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Book Description
Applying a Market Engineering approach, this book introduces a model of an auction with a posted price offer, and investigates the characteristics of such mechanisms. It discusses the respective equilibrium strategies of sellers and the bidders, providing useful insight into actual behavior. The theoretic results are compared with strategies of students in a controlled experiment. The experimental observations expose shortcomings of standard economic theories and help to further improve electronic markets.

Risk-Averse Capacity Control in Revenue Management

Risk-Averse Capacity Control in Revenue Management PDF Author: Christiane Barz
Publisher: Springer Science & Business Media
ISBN: 3540730141
Category : Business & Economics
Languages : en
Pages : 173

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Book Description
This book revises the well-known capacity control problem in revenue management from the perspective of a risk-averse decision-maker. Modelling an expected utility maximizing decision maker, the problem is formulated as a risk-sensitive Markov decision process. Special emphasis is put on the existence of structured optimal policies. Numerical examples illustrate the results.

Complex Systems Approach to Economic Dynamics

Complex Systems Approach to Economic Dynamics PDF Author: Abraham C.-L. Chian
Publisher: Springer Science & Business Media
ISBN: 3540397523
Category : Business & Economics
Languages : en
Pages : 109

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Book Description
Economic Systems exhibit complex dynamics evidenced by large-amplitude and aperiodic fluctuations in economic variables, such as foreign exchange rates and stock market prices, indicating that these systems are driven far from the equilibrium. Characterization of the complex behavior of economic cycles, by identifying regular and irregular patterns and regime switching in economic time series, is the key for pattern recognition and forecasting of economic cycles. Statistical analysis of stock markets and foreign exchange markets has demonstrated the intermittent nature of economic time series. A nonlinear model of business cycles is able to simulate intermittency arising from order-chaos and chaos-chaos transitions. This monograph introduces new concepts of unstable periodic orbits and chaotic saddles which are unstable structures embedded in a chaotic attractor, responsible for economic intermittency.

Economic Evolution and Equilibrium

Economic Evolution and Equilibrium PDF Author: Marco Lehmann-Waffenschmidt
Publisher: Springer Science & Business Media
ISBN: 3540686649
Category : Business & Economics
Languages : en
Pages : 272

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Book Description
This work uses various model frameworks to study the evolution of equilibria in an open loop evolving economy in which the model characteristics evolve without any directional restrictions except for continuity. Applying mathematical methods, it is shown that equilibria can always be adapted in a piecewise gradual, non bang-bang way.

Adaptive Bidding in Single-Sided Auctions under Uncertainty

Adaptive Bidding in Single-Sided Auctions under Uncertainty PDF Author: Clemens van Dinther
Publisher: Springer Science & Business Media
ISBN: 3764381132
Category : Computers
Languages : en
Pages : 245

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Book Description
This is one of the first books on the use of software agents to simulate bidding behavior in electronic auctions. It introduces market theory and computational economics together, and gives an overview on the most common and up-to-date agent-based simulation methods. The book will help the reader learn more about simulations in economics in general and common agent-based methods and tools in particular.

Market-Oriented Grid and Utility Computing

Market-Oriented Grid and Utility Computing PDF Author: Rajkumar Buyya
Publisher: John Wiley & Sons
ISBN: 9780470455425
Category : Computers
Languages : en
Pages : 600

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Book Description
The first single-source reference covering the state of the art in grid and utility computing economy research This book presents the first integrated, single-source reference on market-oriented grid and utility computing. Divided into four main parts—and with contributions from a panel of experts in the field—it systematically and carefully explores: Foundations—presents the fundamental concepts of market-oriented computing and the issues and challenges in allocating resources in a decentralized computing environment. Business models—covers business models for service providers and brokers supporting different types of distributed applications, as well as business rules-based models for managing virtual organizations and accounting operations and services in grid computing environments. Policies and agreements—introduces policies, agreements, and specifications for the negotiation and establishment of contracts between providers and consumers. It also covers different approaches for resource allocation based on service-level agreements (SLAs) and management of risks associated with SLA violations. Resource allocation and scheduling mechanisms—covers economic models, such as commodity models, reciprocation, auctions, and game theory, and middleware technologies, such as Nimrod/G and Gridbus, for market-oriented grid computing and utility-oriented resource allocation. This book expertly captures the state of the art in the field while also identifying potential research directions and technologies that will facilitate the creation of global commercial grid and utility computing systems. It is an indispensable reference for systems architects, practitioners, developers, new researchers, and graduate students.

Preferences in Negotiations

Preferences in Negotiations PDF Author: Henner Gimpel
Publisher: Springer Science & Business Media
ISBN: 3540722254
Category : Business & Economics
Languages : en
Pages : 279

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Book Description
The attachment effect can hinder effective negotiation. Parties are influenced by their subjective expectations formed on account of the exchange of offers, they form reference points, and loss aversion potentially leads to a change of preferences when expectations change. This book presents a motivation, formalization, and substantiation of the attachment effect. The results can be used for prescriptive advice to negotiators.

Advances in Economics and Econometrics

Advances in Economics and Econometrics PDF Author: Econometric Society. World Congress
Publisher: Cambridge University Press
ISBN: 1107016045
Category : Business & Economics
Languages : en
Pages : 511

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Book Description
The first volume of edited papers from the Tenth World Congress of the Econometric Society 2010.

Advances in Economics and Econometrics: Volume 1, Economic Theory

Advances in Economics and Econometrics: Volume 1, Economic Theory PDF Author: Daron Acemoglu
Publisher: Cambridge University Press
ISBN: 1107717809
Category : Business & Economics
Languages : en
Pages : 511

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Book Description
This is the first of three volumes containing edited versions of papers and commentaries presented at invited symposium sessions of the Tenth World Congress of the Econometric Society, held in Shanghai in August 2010. The papers summarize and interpret key developments in economics and econometrics and they discuss future directions for a wide variety of topics, covering both theory and application. Written by the leading specialists in their fields, these volumes provide a unique, accessible survey of progress on the discipline. The first volume primarily addresses economic theory, with specific focuses on nonstandard markets, contracts, decision theory, communication and organizations, epistemics and calibration, and patents.

Handbook of Industrial Engineering

Handbook of Industrial Engineering PDF Author: Gavriel Salvendy
Publisher: John Wiley & Sons
ISBN: 9780471330578
Category : Business & Economics
Languages : en
Pages : 2846

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Book Description
Unrivaled coverage of a broad spectrum of industrial engineering concepts and applications The Handbook of Industrial Engineering, Third Edition contains a vast array of timely and useful methodologies for achieving increased productivity, quality, and competitiveness and improving the quality of working life in manufacturing and service industries. This astoundingly comprehensive resource also provides a cohesive structure to the discipline of industrial engineering with four major classifications: technology; performance improvement management; management, planning, and design control; and decision-making methods. Completely updated and expanded to reflect nearly a decade of important developments in the field, this Third Edition features a wealth of new information on project management, supply-chain management and logistics, and systems related to service industries. Other important features of this essential reference include: * More than 1,000 helpful tables, graphs, figures, and formulas * Step-by-step descriptions of hundreds of problem-solving methodologies * Hundreds of clear, easy-to-follow application examples * Contributions from 176 accomplished international professionals with diverse training and affiliations * More than 4,000 citations for further reading The Handbook of Industrial Engineering, Third Edition is an immensely useful one-stop resource for industrial engineers and technical support personnel in corporations of any size; continuous process and discrete part manufacturing industries; and all types of service industries, from healthcare to hospitality, from retailing to finance. Of related interest . . . HANDBOOK OF HUMAN FACTORS AND ERGONOMICS, Second Edition Edited by Gavriel Salvendy (0-471-11690-4) 2,165 pages 60 chapters "A comprehensive guide that contains practical knowledge and technical background on virtually all aspects of physical, cognitive, and social ergonomics. As such, it can be a valuable source of information for any individual or organization committed to providing competitive, high-quality products and safe, productive work environments."-John F. Smith Jr., Chairman of the Board, Chief Executive Officer and President, General Motors Corporation (From the Foreword)