3期

最新文章

• Selling Quality-Differentiated Products in a Markovian Market with Unknown Transition Probabilities br AI翻译
  作者：Keskin, N. Bora; Li, Meng
  作者单位：Duke University; University of Houston System; University of Houston
  摘要：. In this paper, we study a firm's dynamic pricing problem in the presence of unknown and time-varying heterogeneity in customers' preferences for quality. The firm offers a standard product as well as a premium product to deal with this heterogeneity. First, we consider a benchmark case in which the transition structure of customer heteroge-neity is known. In this case, we analyze the firm's optimal pricing policy and characterize its key structural properties. Thereafter, we investigate the ...
• Technical Note: Multimarket Cournot Equilibria with Heterogeneous Resource-Constrained Firms AI翻译
  作者：Caldentey, Rene; Haugh, Martin B.
  作者单位：University of Chicago; Imperial College London
  摘要：We study Cournot competition among firms in a multimarket framework where each of the firms face different budget/capacity constraints. We assume independent linear inverse demand functions for each market and completely characterize the resulting unique equilibrium. Specifically, we introduce the notions of augmented and cutoff budgets for firms and markets, respectively. We show, for example, that firm i operates in market j if and only if firm i's augmented budget is greater than market j's...
• Single-Product Assemble-to-Order Systems with Exogenous Lead Times AI翻译
  作者：Muharremoglu, Alp; Yang, Nan; Geng, Xin
  作者单位：Amazon.com; University of Miami
  摘要：We study a single -product assemble -to -order (ATO) system with exogenous lead times operated under a component base stock policy. Both demand and component lead times are random and are assumed to have finite supports. The challenge of evaluating a base stock policy in an ATO system with random lead times lies in the fact that one needs to compute the distribution of the minimum of n correlated random variables, where n is the number of components. The correlation arises because the replenis...
• Dynamic Contracting in Asset Management Under the InvestorPartner-Manager Relationship AI翻译
  作者：Keppo, Jussi; Touzi, Nizar; Zuo, Ruiting
  作者单位：National University of Singapore; National University of Singapore; New York University; New York University Tandon School of Engineering; Hong Kong University of Science & Technology (Guangzhou)
  摘要：We study incentive contracts in asset management business under dynamic actions and relationships between an investor, a partner of an investment company, and a fund manager of the company. Both the manager and the partner exert costly effort to manage the investments. The investor cannot perfectly observe the partner's and manager's actions, and similarly, the partner cannot perfectly observe the manager's actions. Thus, we consider a hierarchical contracting framework under hidden efforts, w...
• Endogenous Credit, Business Cycle, and Portfolio Selection AI翻译
  作者：Choi, Kyoung Jin; Koo, Hyeng Keun; Lim, Byung Hwa; Yoo, Jane
  作者单位：University of Calgary; Ajou University; Pohang University of Science & Technology (POSTECH); Sungkyunkwan University (SKKU)
  摘要：We study a continuous-time model of consumption and portfolio selection of an agent with a limited ability to commit to a debt contract in which the credit limit is endogenously determined. We consider the case where the agent borrows against future income and/or collateral assets. We also study the determination of the credit limit in a general equilibrium model. We derive the credit limit in closed form. The credit limit is smaller than the natural limit because of limited commitment and an ...
• Risk Sensitivity and Firm Power: Price Competition with Mean2-Variance Profit Objective Under Multinomial Logit Demand AI翻译
  作者：Li, Hongmin; Webster, Scott
  作者单位：Arizona State University; Arizona State University-Tempe
  摘要：This paper is the first in the literature to address a risk-sensitive price competition under the multinomial logit choice model, with each participating firm maximizing a riskadjusted profit objective. We find that, at equilibrium, a subset of firms earns a positive profit, whereas others are driven to zero profit, contrasting with the risk-neutral equilibrium in which all firms earn a positive profit regardless of quality and cost. We identify a power index-the ratio of effective product att...
• Optimal and Differentially Private Data Acquisition: Central and Local Mechanisms AI翻译
  作者：Fallah, Alireza; Makhdoumi, Ali; Malekian, Azarakhsh; Ozdaglar, Asuman
  作者单位：Massachusetts Institute of Technology (MIT); Duke University; University of Toronto
  摘要：We consider a platform's problem of collecting data from privacy sensitive users to estimate an underlying parameter of interest. We formulate this question as a Bayesianoptimal mechanism design problem, in which an individual can share their (verifiable) data in exchange for a monetary reward or services, but at the same time has a (private) heterogeneous privacy cost which we quantify using differential privacy. We consider two popular differential privacy settings for providing privacy guar...
• Dynamic Placement in Refugee Resettlement AI翻译
  作者：Ahani, Narges; Golz, Paul; Procaccia, Ariel D.; Teytelboym, Alexander; Trapp, Andrew C.
  作者单位：Bank of America Corporation; Harvard University; University of Oxford; Worcester Polytechnic Institute; Worcester Polytechnic Institute
  摘要：Employment outcomes of resettled refugees depend strongly on where they are initially placed in the host country. Each week, a resettlement agency is allocated a set of refugees by the U.S. government. The agency must place these refugees in its local affiliates while respecting the affiliates' annual capacities. We develop an allocation system that recommends where to place an incoming refugee family to improve total employment success. Our algorithm is based on two-stage stochastic programmi...
• Proximal Reinforcement Learning: Efficient Off-Policy Evaluation in Partially Observed Markov Decision Processes AI翻译
  作者：Bennett, Andrew; Kallus, Nathan
  作者单位：Cornell University
  摘要：In applications of offline reinforcement learning to observational data, such as in healthcare or education, a general concern is that observed actions might be affected by unobserved factors, inducing confounding and biasing estimates derived under the assumption of a perfect Markov decision process (MDP) model. Here we tackle this by considering off-policy evaluation in a partially observed MDP (POMDP). Specifically, we consider estimating the value of a given target policy in an unknown POM...
• Efficient Decentralized Multi-agent Learning in Asymmetric Bipartite Queueing Systems AI翻译
  作者：Freund, Daniel; Lykouris, Thodoris; Weng, Wentao
  作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
  摘要：We study decentralized multiagent learning in bipartite queueing systems, a standard model for service systems. In particular, N agents request service from K servers in a fully decentralized way, that is, by running the same algorithm without communication. Previous decentralized algorithms are restricted to symmetric systems, have performance that is degrading exponentially in the number of servers, require communication through shared randomness and unique agent identities, and are computat...