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作者：Kwasnica, AM; Ledyard, JO; Porter, D; DeMartini, C
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; California Institute of Technology; California Institute of Technology; George Mason University; RAND Corporation
摘要：In this paper we present a new improved design for multiobject auctions and report on the results of experimental test's of that design. We merge the better features of two extant but very different auction processes, the Simultaneous Multiple Round (SMR) design used by the FCC to auction the electromagnetic spectrum and the Adaptive User Selection Mechanism (AUSM) of Banks et al. (1989, Allocating uncertain and unresponsive resources: An experimental approach, RAND Journal of Economics, Vol. ...
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作者：Gibbons, R
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：This paper reviews the significant progress in agency theory (i.e., the economic theory of incentives) during the 1990s, with an eye toward applications to supply transactions. I emphasize six recent models, in three pairs: (1) new foundations for the theory of incentive contracts, (2) new directions in incentive theory, and (3) new applications to supply transactions. By reviewing these six models, I hope to establish three things. First, the theory of incentive contracts needed and received ...
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作者：Detemple, J; Garcia, R; Rindisbacher, M
作者单位：Boston University; Universite de Montreal; Universite de Montreal
摘要：We study the convergence of Monte Carlo estimators of derivatives when the transition density of the underlying state variables is unknown. Three types of estimators are compared. These are respectively based on Malliavin derivatives, on the covariation with the driving Wiener process, and on finite difference approximations of the derivative. We analyze two different estimators based on Malliavin derivatives. The first one, the Malliavin path estimator, extends the path derivative estimator o...
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作者：Campbell, JF; Ernst, AT; Krishnamoorthy, M
作者单位：University of Missouri System; University of Missouri Saint Louis; Commonwealth Scientific & Industrial Research Organisation (CSIRO)
摘要：Acompanion paper (Campbell et al. 2005) introduces new hub arc location models and analyzes optimal solutions, with special attention to spatial pattens and relationships. This paper provides integer programming formulations and optimal solution algorithms for these problems. We describe two optimal solution approaches in detail and compare their performance, using standard hub location data sets. We present implementation details and show how algorithms can be fine tuned based on characterist...
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作者：Du, N; Budescu, DV
作者单位：DePaul University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Vagueness attitudes have been used to explain anomalies and irregularities in investment behavior. It is generally assumed (Ellsberg 1961) that decision makers (DMs) dislike vagueness, but this assumption has been challenged by empirical results documenting systematic alternative attitudes to vagueness as a function of its source, the domain of the decisions, and the response mode used. We investigate these three factors in a within-subjects design that was embedded in an investment context. D...
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作者：Glasserman, P; Li, JY
作者单位：Columbia University
摘要：Monte Carlo simulation is widely used to measure the credit risk in portfolios of loans, corporate bonds, and other instruments subject to possible default. The accurate measurement of credit risk is often a rare-event simulation problem because default probabilities are low for highly rated obligors and because risk management is particularly concerned with rare but significant losses resulting from a large number of defaults. This makes importance sampling (IS) potentially attractive. But th...
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作者：Gneezy, U
作者单位：University of Chicago
摘要：Step-level models of reasoning (SLR) proved to be very successful in predicting behavior in the beauty contest game. Recently, a quantified version of the model was suggested as a more general model of thinking. In particular, it was found that, the distribution of choices could be represented by a Poisson distribution. I test the model in stylized first- and second-price common-value sealed-bid auctions. Equilibrium, for both auction types, prescribes that players undercut each other and prof...
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作者：Baldenius, T; Reichelstein, S
作者单位：Columbia University; Stanford University
摘要：This paper examines inventory management from an incentive perspective. We show that when a manager has private information about future attainable revenues, the residual income performance measure based on historical cost can achieve optimal (second-best) incentives with regard to managerial effort as well as production and sales decisions. The LIFO (last-in-first-out) inventory flow rule is shown to be preferable to the FIFO (first-in-first-out) rule for the purpose of aligning incentives. O...
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作者：Elhedhli, S; Goffin, JL
作者单位：University of Waterloo; McGill University
摘要：The production-distribution system design is an integral part of the general supply chain design. This paper proposes a novel solution methodology for this problem that is based on Lagrangean relaxation, interior-point methods, and branch and bound. Unlike classical approaches, Lagrangean relaxation is applied in a two-level hierarchy, branch and bound is based on a Lagrangean lower bound and column generation (branch and price), while interior-point methods are used within a cutting-plane con...
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作者：Akçura, MT; Srinivasan, K
作者单位：Purdue University System; Purdue University; Carnegie Mellon University
摘要：Better targeting opportunities and the increasing role of information-intensive environments have created new challenges for firms in obtaining customer information. Such information can help firms increase their profits through cross-selling opportunities. However, revealing personal preferences and contact information can raise the risks for customers when dealing with a firm. Consequently, some customers trade off the benefit and risks of revealing information. As the opportunity to obtain ...
