Optimising Trade-offs Among Stakeholders in Ad Auctions

We examine trade-offs among stakeholders in ad auctions. Our metrics are the revenue for the utility of the auctioneer, the number of clicks for the utility of the users and the welfare for the utility of the advertisers. We show how to optimize linear combinations of the stakeholder utilities, showing that these can be tackled through a GSP auction with a per-click reserve price. We then examine constrained optimization of stakeholder utilities. We use simulations and analysis of real-world sponsored search auction data to demonstrate the feasible trade-offs, examining the effect of changing the allowed number of ads on the utilities of the stakeholders. We investigate both short term effects, when the players do not have the time to modify their behavior, and long term equilibrium conditions. Finally, we examine a combinatorially richer constrained optimization problem, where there are several possible allowed configurations (templates) of ad formats. This model captures richer ad formats, which allow using the available screen real estate in various ways. We show that two natural generalizations of the GSP auction rules to this domain are poorly behaved, resulting in not having a symmetric Nash equilibrium or having one with poor welfare. We also provide positive results for restricted cases.Comment: 18 pages, 10 figures, ACM Conference on Economics and Computation 201

Interactive Blocking in Arrow-Debreu Economies

Competitive behaviors such as outbidding one's rivals may be countered by the rivals' threat of mutually destructive objections. In an Arrow-Debreu model of production economies with firms privatized by property rights, we model such hindered competitive behaviors as a coalition's attempt to block a status quo given the threat that the outsiders of the coalition, especially those with whom the coalition shares ownership of firms, may resort to production-ruining secession. We introduce new concepts of the core such that a coalition's blocking plan is feasible only if it is not blocked by the outsiders with such secession. Based on such notions, we prove core equivalence theorems in the replication framework.core; coalition; core equivalence; blocking; production; firms

Core Equivalence Theorem with Production

In production economies, the extent to which non-equilibria are blocked depends on the allocation of control rights among shareholders, because a blocking coalition's resources are affected by the firms it jointly owns with outsiders. We formulate a notion of blocking that takes such interdependency problem into account, and we prove an analog of the Debreu-Scarf theorem for replica production economies. Our theorem differs from theirs in using an additional assumption, which we argue is indispensable and is driven by the interdependency problem.

Matching Dynamics with Constraints

We study uncoordinated matching markets with additional local constraints that capture, e.g., restricted information, visibility, or externalities in markets. Each agent is a node in a fixed matching network and strives to be matched to another agent. Each agent has a complete preference list over all other agents it can be matched with. However, depending on the constraints and the current state of the game, not all possible partners are available for matching at all times. For correlated preferences, we propose and study a general class of hedonic coalition formation games that we call coalition formation games with constraints. This class includes and extends many recently studied variants of stable matching, such as locally stable matching, socially stable matching, or friendship matching. Perhaps surprisingly, we show that all these variants are encompassed in a class of "consistent" instances that always allow a polynomial improvement sequence to a stable state. In addition, we show that for consistent instances there always exists a polynomial sequence to every reachable state. Our characterization is tight in the sense that we provide exponential lower bounds when each of the requirements for consistency is violated. We also analyze matching with uncorrelated preferences, where we obtain a larger variety of results. While socially stable matching always allows a polynomial sequence to a stable state, for other classes different additional assumptions are sufficient to guarantee the same results. For the problem of reaching a given stable state, we show NP-hardness in almost all considered classes of matching games.Comment: Conference Version in WINE 201

The Fight against income evasion in Hungary

The evasion of income causes the national budget of Hungary great damage. Just the partial prevention of it would benefit greatly to the state balance and the realization of the economic policy in Hungary. Repelling income evasion can only be achieved by various means. These are the following: To identify and abolish its reasons and causes; to post strict regularizations consistent with the EU legislation; to close legal gaps; not to concentrate on penalties; to reduce high taxes and the exorbitant income centralization of the state; to take the moral education for serious as well as the legal harmonization and effect analysis for the various decisions.

SPATIAL INTEGRATION ON THE HUNGARIAN MILK MARKET

The geographical separation of markets is of a special importance in agriculture, as often, agricultural products are bulky and/or perishable, and the place of consumption may be different from that of production, implying possibly expensive transport costs (SEXTON ET AL., 1991). The imperfectly integrated markets may send wrong price information signals to producers and other actors of the marketing chain, resulting incorrect production and marketing decisions. The aim of the article is to map the horizontal integration on the milk market in the Hungarian milk market using up-to-date Vector Error Correction (VECM) and Threshold Error Correction (TEVCM) methods.horizontal integration, transition economy, threshold cointegration, Livestock Production/Industries, Marketing,

Numerical study on active and passive trailing edge morphing applied to a multi-MW wind turbine section

A progressive increasing in turbine dimension has characterized the technological development in offshore wind energy utilization. This aspect reflects on the growing in blade length and weight. For very large turbines, the standard control systems may not be optimal to give the best performance and the best vibratory load damping, keeping the condition of maximum energy production. For this reason, some new solutions have been proposed in research. One of these is the possibility of morphs the blade surface in an active way (increasing the performance in low wind region) or passive (load reduction) way. In this work, we present a numerical study on the active and passive trailing edge morphing, applied to large wind turbines. In particular, the study focuses on the aerodynamic response of a midspan blade section, in terms of fluid structure interaction (FSI) and driven surface deformation. We test the active system in a simple start-up procedure and the passive system in a power production with turbulent wind conditions, that is, two situations in which we expect these systems could improve the performance. All the computations are carried out with a FSI code, which couples a 2D-CFD solver, a moving mesh solver (both implemented in OpenFOAM library) and a FEM solver. We evaluate all the boundary conditions to apply in the section problem by simulating the 5MW NREL wind turbine with the NREL CAE-tools developed for wind turbine simulation

Skill competency development strategies by a contractor

Construction skills are one of the vital aspects of construction work which is growing in importance due to skill gaps and skill shortages during different economic cycles. The aim of this study was to investigate competence development strategies by a traditional construction company within its own pool of skill resources and among its supply chain members. The study was carried out via literature review, empirical studies involving a focus study, analysis of documentary evidence supported by unstructured interviews and a report of skill development/supply chain conference. The study demonstrates how long-term skill development can be achieved through: (a) strategic capacity planning which allows high retention, continuous training, and balanced construction demand and contractor’s supply capacity over the long term; (b) updating and upgrading the knowledge base of the supply chain through conferences and training schemes; (c) strategic investment in the workforce through training, vocational and higher degrees; and (d) acquaintance with different sources of finance. This study will assist small traditional firms in building competencies in skill development and improvement. It will assist an international audience who may face similar issue with their construction firm