62,722 research outputs found
Incentive Mechanisms for Participatory Sensing: Survey and Research Challenges
Participatory sensing is a powerful paradigm which takes advantage of
smartphones to collect and analyze data beyond the scale of what was previously
possible. Given that participatory sensing systems rely completely on the
users' willingness to submit up-to-date and accurate information, it is
paramount to effectively incentivize users' active and reliable participation.
In this paper, we survey existing literature on incentive mechanisms for
participatory sensing systems. In particular, we present a taxonomy of existing
incentive mechanisms for participatory sensing systems, which are subsequently
discussed in depth by comparing and contrasting different approaches. Finally,
we discuss an agenda of open research challenges in incentivizing users in
participatory sensing.Comment: Updated version, 4/25/201
National Hockey League guaranteed contracts: A principal agent problem impacting on performance
Purpose
â This paper aims to investigate, through the lens of the principalâagent problem, the relationship between payment of National Hockey League (NHL) salaries and player performance during the period of 2005-2011 and explore the inherent issues within the NHL player compensation and incentive structure.
Design/methodology/approach
â The research adopts a pragmatic philosophy with deductive reasoning. This paper focuses on the NHL season 2005-2011 and undertake analysis of historical player contracts and performance data of 670 players across 29 clubs to undertake liner regression analysis.
Findings
â This paper quantifies potential inefficiencies of NHL league contracts and defines the parameters of the principalâagent problem. It is identifies that player performance generally increases with salary, is higher in the first year of a contract and despite decreasing over the life of the contract, will usually peak again in the final year of the contract.
Research limitations/implications
â The research is based around figures from 2005-2011 and secondary statistical data. The study captures quantitative data but does not allow for an exploration of the qualitative perspective to the problem.
Practical implications
â Entry-level or first contracts are good for all teams and players because they provide incentive to perform and a reduction of risk to the team should a player not perform to expectations. The same can be said for players at the other end of the spectrum. Although not typically used much, performance bonuses for players over the age of 35 allow clubs to âtake a chanceâ on a player and the player can benefit by reaching attainable bonuses. These findings therefore provide contributions to the practicing managers and coaches of NHL teams who can consider the results to help shape their approach to management of players and the planning of teams and succession planning for talent.
Originality/value
â The paper presents a comprehensive and current perspective of the principalâagent problem in NHL and extends the work of Purcell (2009) and Gannon (2009) in understanding player performance enhancement
An Investigation Report on Auction Mechanism Design
Auctions are markets with strict regulations governing the information
available to traders in the market and the possible actions they can take.
Since well designed auctions achieve desirable economic outcomes, they have
been widely used in solving real-world optimization problems, and in
structuring stock or futures exchanges. Auctions also provide a very valuable
testing-ground for economic theory, and they play an important role in
computer-based control systems.
Auction mechanism design aims to manipulate the rules of an auction in order
to achieve specific goals. Economists traditionally use mathematical methods,
mainly game theory, to analyze auctions and design new auction forms. However,
due to the high complexity of auctions, the mathematical models are typically
simplified to obtain results, and this makes it difficult to apply results
derived from such models to market environments in the real world. As a result,
researchers are turning to empirical approaches.
This report aims to survey the theoretical and empirical approaches to
designing auction mechanisms and trading strategies with more weights on
empirical ones, and build the foundation for further research in the field
The Question of Generation Adequacy in Liberalised Electricity Markets
This paper presents an overview of the reasons why unregulated markets for the production of electricity cannot be expected to invest sufficiently in generation capacity on a continuous basis. Although it can be shown that periodic price spikes should provide generation companies with sufficient investment incentives in theory, there are a number of probable causes of market failure. A likely result is the development of investment cycles that may affect the adequacy of capacity. The experience in California shows the great social costs associated with an episode of scarce generation capacity. Another disadvantage is that generation companies can manipulate price spikes. This would result in large transfers of income from consumers to producers and reduce the operational reliability of electricity supply during these price spikes. We end this paper by outlining several methods that have been proposed to stabilise the market, which provide better incentives to generation companies and consumers alike.Generation adequacy, Liberalised electricity market
The mechanics of trust: a framework for research and design
With an increasing number of technologies supporting transactions over distance and replacing traditional forms of interaction, designing for trust in mediated interactions has become a key concern for researchers in human computer interaction (HCI). While much of this research focuses on increasing usersâ trust, we present a framework that shifts the perspective towards factors that support trustworthy behavior. In a second step, we analyze how the presence of these factors can be signalled. We argue that it is essential to take a systemic perspective for enabling well-placed trust and trustworthy behavior in the long term. For our analysis we draw on relevant research from sociology, economics, and psychology, as well as HCI. We identify contextual properties (motivation based on temporal, social, and institutional embeddedness) and the actor's intrinsic properties (ability, and motivation based on internalized norms and benevolence) that form the basis of trustworthy behavior. Our analysis provides a frame of reference for the design of studies on trust in technology-mediated interactions, as well as a guide for identifying trust requirements in design processes. We demonstrate the application of the framework in three scenarios: call centre interactions, B2C e-commerce, and voice-enabled on-line gaming
Information Transmission and Micro-structure rents in Emerging Markets
This paper offers a first ever theoretical study of a unique financing instrument associated with prominent emerging equity markets in South Asia. The instrument known as badla, in local parlance, has two interesting aspects, which have been ignored thus far. Firstly, it may serve as an information transmission mechanism and can be thought of as an institutional response to information gaps in the emerging markets. Secondly, it creates new types of rents, called âmarket microstructureâ rents for certain market players. These rents are then exploited to gain control of the governing boards of equity markets. Consequently, institutional inertia is created which hinders the badly needed reform process.Information transmission; Signaling; Microstructure rents; Linked games; Institutional inertia
Socially Trusted Collaborative Edge Computing in Ultra Dense Networks
Small cell base stations (SBSs) endowed with cloud-like computing
capabilities are considered as a key enabler of edge computing (EC), which
provides ultra-low latency and location-awareness for a variety of emerging
mobile applications and the Internet of Things. However, due to the limited
computation resources of an individual SBS, providing computation services of
high quality to its users faces significant challenges when it is overloaded
with an excessive amount of computation workload. In this paper, we propose
collaborative edge computing among SBSs by forming SBS coalitions to share
computation resources with each other, thereby accommodating more computation
workload in the edge system and reducing reliance on the remote cloud. A novel
SBS coalition formation algorithm is developed based on the coalitional game
theory to cope with various new challenges in small-cell-based edge systems,
including the co-provisioning of radio access and computing services,
cooperation incentives, and potential security risks. To address these
challenges, the proposed method (1) allows collaboration at both the user-SBS
association stage and the SBS peer offloading stage by exploiting the ultra
dense deployment of SBSs, (2) develops a payment-based incentive mechanism that
implements proportionally fair utility division to form stable SBS coalitions,
and (3) builds a social trust network for managing security risks among SBSs
due to collaboration. Systematic simulations in practical scenarios are carried
out to evaluate the efficacy and performance of the proposed method, which
shows that tremendous edge computing performance improvement can be achieved.Comment: arXiv admin note: text overlap with arXiv:1010.4501 by other author
The corporate managers and stockholders relationship: the moral hazard issue, case of Moroccan listed companies
This paper deals with the moral hazard problem associated with the behavior of corporate managers. The stockholders (shareholders) cannot control ex ante the managers, because the latterâs action is unobservable to the former, and the stockholders cannot oblige the managers to choose an action which is effective and benefit both parties. The stockholders may not modify the impact of action taken by managers if and only if they decide to condition the action payment to the final observable income. In the specific context of emerging markets listed companies in where the level of opacity and the inefficiency to monitor are very high, the revelation principle does not play correctly. Therefore, it is not interesting to the Agent to show his true type. In this Paper we will specifically deal with this type of problem within the framework of companies listed in the Casablanca Stock Exchange. Our approach consists to show the moral hazard issue existing between two parties: the stockholders (i.e., uninformed âPrincipalâ) and the manager namely the Chief Executive Officer (i.e., informed âAgentâ).Asymmetrical Information; Moral Hazard; Non-fulfilment of Contract; Governance of Listed Companies; Collusion; Cooperative Game; Stockholders; Corporate Managers; Casablanca Stock Exchange.
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