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作者：Lahaie, Sebastien; Lubin, Benjamin
作者单位：Alphabet Inc.; Google Incorporated; Boston University
摘要：We introduce the first adaptively priced iterative combinatorial auction design, which gradually extends price expressiveness as the rounds progress. This mechanism achieves both high efficiency and fast convergence across a wide range of valuation domains. We implement our auction design using polynomial prices, show how to detect when the current price structure is insufficient to clear the market, and show how to correctly expand the polynomial structure to guarantee progress. An experiment...
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作者：Ekmekci, Mehmet; White, Alexander; Wu, Lingxuan
作者单位：Boston College; Tsinghua University; Tsinghua University; Harvard University
摘要：Is more competition the key to mitigating dominance by large tech platforms? Could regulation of such markets be a better alternative? We study the effects of competi-tion and interoperability regulation in platform markets. To do so, we propose an approach of competition in net fees, which is well-suited to situations in which users pay additional charges, after joining, for on-platform interactions. Compared with existing approaches, the net fee model expands the tractable scope to allow var...
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作者：Glossner, Simon; Matos, Pedro; Ramelli, Stefano; Wagner, Alexander F.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Virginia; European Corporate Governance Institute; University of St Gallen; Swiss Finance Institute (SFI); University of Zurich; Centre for Economic Policy Research - UK; University of Zurich
摘要：During the COVID-19 stock market crash, U.S. stocks with higher institutional ownership (IO) performed worse than those with lower IO. By studying firm-level changes, we identify two mechanisms behind this effect: a sudden downscaling of institutional capital in the equity market and a collective attempt by institutions to reposition their equity portfolios toward more COVID-resilient stocks. The stock price effects of their portfolio downscaling trades quickly reversed in the market's recover...
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作者：Zhang, Kairen; Gao, Xiangyu; Wang, Zhanyue; Zhou, Sean X.
作者单位：Southeast University - China; Chinese University of Hong Kong; Nankai University
摘要：We study inventory management of an infinite-horizon, series system with multiple stages. Each stage orders from its immediate upstream stage, and the most upstream stage orders from an external supplier. Random demand with unknown distribution occurs at the most downstream stage. Each stage incurs inventory holding cost while the most downstream stage also incurs demand backlogging cost when it experiences inventory shortage. The objective is to minimize the expected total discounted cost ove...
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作者：Simchi-Levi, David; Zheng, Zeyu; Zhu, Feng
作者单位：Massachusetts Institute of Technology (MIT); University of California System; University of California Berkeley
摘要：We build a unified modeling framework for classical online matching problems and emerging online matching problems with three additional practical features: reusable resources, network resources, and decaying rewards. For online matching problems in the unified framework, we provide a unified performance analysis tool for the greedy policy and its simple variants, which we refer to as greedy-like policies. We prove that greedylike policies can achieve near-optimal performances for online match...
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作者：Gao, Long; Jian, Dawei; Gumus, Mehmet; Mishra, Birendra K.
作者单位：University of California System; University of California Riverside; University of Wisconsin System; University of Wisconsin Milwaukee; McGill University
摘要：Demand externalities arise when past sales stimulate future demand. They pervade many consumer markets. To penetrate such markets, how should manufacturers contract with retailers? We formulate the problem as a dynamic game, wherein the retailer can privately observe and control evolving market conditions, and consumers can act either myopically or strategically. Our contribution is threefold. (i) We characterize the optimal contract: It resolves a dynamic tradeoff between exploiting demand ex...
