2期

最新文章

• Stall Economy: The Value of Mobility in Retail on Wheels AI翻译
  作者：Cao, Junyu; Qi, Wei
  作者单位：University of Texas System; University of Texas Austin; Tsinghua University
  摘要：Urban open space emerges as a new territory to embrace retail innovations. Selling products in public spaces with wheeled stalls can potentially become ubiquitous in our future cities. Transition into such a stall economy paradigm is being spurred by the rapidly advancing self-driving technologies. Motivated by this transformation, this paper provides models, theory, and insights of spatial queueing systems, in which one server moves around to meet mobile customers/machines and in which the la...
• Beta and Coskewness Pricing: Perspective from Probability Weighting AI翻译
  作者：Shi, Yun; Cui, Xiangyu; Zhou, Xun Yu
  作者单位：East China Normal University; Shanghai Institute of International Finance & Economics; Shanghai University of Finance & Economics; Columbia University; Columbia University
  摘要：The security market line is often flat or downward-sloping. We hypothesize that probability weighting plays a role and one ought to differentiate between periods in which agents overweight extreme events and those in which they underweight them. Overweighting inflates the probability of extremely bad events and demands greater compensation for beta risk, whereas underweighting does the opposite. Unconditional on probability weighting, these two effects offset each other, resulting in a flat or...
• Online Passenger Flow Control in Metro Lines AI翻译
  作者：Liang, Jinpeng; Lyu, Guodong; Teo, Chung-Piaw; Gao, Ziyou
  作者单位：Dalian Maritime University; Hong Kong University of Science & Technology; National University of Singapore; National University of Singapore; Beijing Jiaotong University
  摘要：Crowd management during peak commuting hours is a key challenge facing oversaturated metro systems worldwide, which results in serious safety concerns and uneven service experience for commuters on different origin-destination (o-d) pairs. This paper develops realtime passenger flow control policies to manage the inflow of crowds at each station, to optimize the total load carried or revenue earned (efficiency), and to ensure that adequate service is provided to passengers on each o-d pair (fa...
• Disruption and Rerouting in Supply Chain Networks AI翻译
  作者：Birge, John R.; Capponi, Agostino; Chen, Peng-Chu
  作者单位：University of Chicago; Columbia University; University of Hong Kong
  摘要：We study systemic risk in a supply chain network where firms are connected through purchase orders. Firms can be hit by cost or demand shocks, which can cause defaults. These shocks propagate through the supply chain network via input-output linkages between buyers and suppliers. Firms endogenously take contingency plans to mitigate the impact generated from disruptions. We show that, as long as firms have large initial equity buffers, network fragility is low if both buyer diversification and...
• Market Making and Incentives Design in the Presence of a Dark Pool: A Stackelberg Actor-Critic Approach AI翻译
  作者：Baldacci, Bastien; Manziuk, Iuliia; Mastrolia, Thibaut; Rosenbaum, Mathieu
  作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; University of California System; University of California Berkeley
  摘要：We consider the issue of a market maker acting at the same time in the lit and dark pools of an exchange. The exchange wishes to establish a suitable make-take fee policy to attract transactions on its venues. We first solve the stochastic control problem of the market maker without the intervention of the exchange. Then, we derive the equations defining the optimal contract to be set between the market maker and the exchange. This contract depends on the trading flows generated by the market ...
• Infinite-Dimensional Fisher Markets and Tractable Fair Division AI翻译
  作者：Gao, Yuan; Kroer, Christian
  作者单位：Columbia University
  摘要：Linear Fishermarkets are a fundamental economicmodelwith diverse applications. In the finite-dimensional case of n buyers and m items, amarket equilibriumcan be computed using the celebrated Eisenberg-Gale convex program. Motivated by large-scale Internet advertising and fair division applications, we consider a generalization of a linear Fisher market where there is a finite set of buyers and ameasurable itemspace. We introduce generalizations of the Eisenberg-Gale convex program and its dual...
• Optimal Pricing and Introduction Timing of Technology Upgrades in Subscription-Based Services AI翻译
  作者：Kash, Ian A.; Key, Peter B.; Zoumpoulis, Spyros I.
  作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; INSEAD Business School
  摘要：In the context of subscription-based services, many technologies improve over time, and service providers can provide increasingly powerful service upgrades to their customers but at a launching cost and the expense of the sales of existing products. We propose a model of technology upgrades and characterize the optimal pricing and timing of technology introductions for a service provider who price-discriminates among customers based on their upgrade experience in the face of customers who are...
• Revenue Management Under a Mixture of Independent Demand and Multinomial Logit Models AI翻译
  作者：Cao, Yufeng; Rusmevichientong, Paat; Topaloglu, Huseyin
  作者单位：Shanghai Jiao Tong University; University of Southern California
  摘要：We consider assortment optimization problems when customers choose under a mixture of independent demand and multinomial logit models. In the assortment optimization setting, each product has a fixed revenue associatedwith it. The customers choose among the products according to our mixture choice model. The goal is to find an assortment that maximizes the expected revenue from a customer. We show that we can find the optimal assortment by solving a linear program. We establish that the optima...
• On the Design of Public Debate in Social Networks AI翻译
  作者：Grabisch, Michel; Mandel, Antoine; Rusinowska, Agnieszka
  作者单位：Paris School of Economics
  摘要：We propose a model of the joint evolution of opinions and social relationships in a setting in which social influence decays over time. The dynamics are based on bounded confidence: social connections between individuals with distant opinions are severed, whereas new connections are formed between individuals with similar opinions. Our model naturally gives rise to strong diversity, that is, the persistence of heterogeneous opinions in connected societies, a phenomenon that most existing model...
• Distributionally Robust Losses for Latent Covariate Mixtures AI翻译
  作者：Duchi, John; Hashimoto, Tatsunori; Namkoong, Hongseok
  作者单位：Stanford University; Stanford University; Stanford University; Columbia University
  摘要：While modern large-scale data sets often consist of heterogeneous subpopulations-for example, multiple demographic groups or multiple text corpora-the standard practice of minimizing average loss fails to guarantee uniformly low losses across all sub-populations. We propose a convex procedure that controls the worst case performance over all subpopulations of a given size. Our procedure comes with finite-sample (nonparametric) convergence guarantees on the worst-off subpopulation. Empirically,...