6,761 research outputs found

    Designing cost-sharing methods for Bayesian games

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    We study the design of cost-sharing protocols for two fundamental resource allocation problems, the Set Cover and the Steiner Tree Problem, under environments of incomplete information (Bayesian model). Our objective is to design protocols where the worst-case Bayesian Nash equilibria, have low cost, i.e. the Bayesian Price of Anarchy (PoA) is minimized. Although budget balance is a very natural requirement, it puts considerable restrictions on the design space, resulting in high PoA. We propose an alternative, relaxed requirement called budget balance in the equilibrium (BBiE).We show an interesting connection between algorithms for Oblivious Stochastic optimization problems and cost-sharing design with low PoA. We exploit this connection for both problems and we enforce approximate solutions of the stochastic problem, as Bayesian Nash equilibria, with the same guarantees on the PoA. More interestingly, we show how to obtain the same bounds on the PoA, by using anonymous posted prices which are desirable because they are easy to implement and, as we show, induce dominant strategies for the players

    Dynamic multilateral markets

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    We study dynamic multilateral markets, in which players' payoffs result from intra-coalitional bargaining. The latter is modeled as the ultimatum game with exogenous (time-invariant) recognition probabilities and unanimity acceptance rule. Players in agreeing coalitions leave the market and are replaced by their replicas, which keeps the pool of market participants constant over time. In this infinite game, we establish payoff uniqueness of stationary equilibria and the emergence of endogenous cooperation structures when traders experience some degree of (heterogeneous) bargaining frictions. When we focus on market games with different player types, we derive, under mild conditions, an explicit formula for each type's equilibrium payoff as the market frictions vanish

    Evidence of Vortices on the Insulating Side of the Superconductor-Insulator Transition

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    The magnetoresistance of ultrathin insulating films of Bi has been studied with magnetic fields applied parallel and perpendicular to the plane of the sample. Deep in the strongly localized regime, the magnetoresistance is negative and independent of field orientation. As film thicknesses increase, the magnetoresistance becomes positive, and a difference between values measured in perpendicular and parallel fields appears, which is a linear function of the magnetic field and is positive. This is not consistent with the quantum interference picture. We suggest that it is due to vortices present on the insulating side of the superconductor-insulator transition.Comment: 4 pages, 3 figure

    Evaluating case studies of community-oriented integrated care.

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    This paper summarises a ten-year conversation within London Journal of Primary Care about the nature of community-oriented integrated care (COIC) and how to develop and evaluate it. COIC means integration of efforts for combined disease-treatment and health-enhancement at local, community level. COIC is similar to the World Health Organisation concept of a Community-Based Coordinating Hub - both require a local geographic area where different organisations align their activities for whole system integration and develop local communities for health. COIC is a necessary part of an integrated system for health and care because it enables multiple insights into 'wicked problems', and multiple services to integrate their activities for people with complex conditions, at the same time helping everyone to collaborate for the health of the local population. The conversation concludes seven aspects of COIC that warrant further attention

    The Methodologies of Neuroeconomics

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    We critically review the methodological practices of two research programs which are jointly called ‘neuroeconomics’. We defend the first of these, termed ‘neurocellular economics’ (NE) by Ross (2008), from an attack on its relevance by Gul and Pesendorfer (2008) (GP). This attack arbitrarily singles out some but not all processing variables as unimportant to economics, is insensitive to the realities of empirical theory testing, and ignores the central importance to economics of ‘ecological rationality’ (Smith 2007). GP ironically share this last attitude with advocates of ‘behavioral economics in the scanner’ (BES), the other, and better known, branch of neuroeconomics. We consider grounds for skepticism about the accomplishments of this research program to date, based on its methodological individualism, its ad hoc econometrics, its tolerance for invalid reverse inference, and its inattention to the difficulties involved in extracting temporally lagged data if people’s anticipation of reward causes pre-emptive blood flow
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