Almost Budget Balanced Mechanisms with Scalar Bids For Allocation of a Divisible Good

This paper is about allocation of an infinitely divisible good to several rational and strategic agents. The allocation is done by a social planner who has limited information because the agents' valuation functions are taken to be private information known only to the respective agents. We allow only a scalar signal, called a bid, from each agent to the social planner. Yang and Hajek [Jour. on Selected Areas in Comm., 2007] as well as Johari and Tsitsiklis [Jour. of Oper. Res., 2009] proposed a scalar strategy Vickrey-Clarke-Groves (SSVCG) mechanism with efficient Nash equilibria. We consider a setting where the social planner desires minimal budget surplus. Example situations include fair sharing of Internet resources and auctioning of certain public goods where revenue maximization is not a consideration. Under the SSVCG framework, we propose a mechanism that is efficient and comes close to budget balance by returning much of the payments back to the agents in the form of rebates. We identify a design criterion for {\em almost budget balance}, impose feasibility and voluntary participation constraints, simplify the constraints, and arrive at a convex optimization problem to identify the parameters of the rebate functions. The convex optimization problem has a linear objective function and a continuum of linear constraints. We propose a solution method that involves a finite number of constraints, and identify the number of samples sufficient for a good approximation.Comment: Accepted for publication in the European Journal of Operational Research (EJOR

Nonequilibrium phase transitions in models of adsorption and desorption

The nonequilibrium phase transition in a system of diffusing, coagulating particles in the presence of a steady input and evaporation of particles is studied. The system undergoes a transition from a phase in which the average number of particles is finite to one in which it grows linearly in time. The exponents characterizing the mass distribution near the critical point are calculated in all dimensions.Comment: 10 pages, 2 figures (To appear in Phys. Rev. E

A new class of highly efficient exact stochastic simulation algorithms for chemical reaction networks

We introduce an alternative formulation of the exact stochastic simulation algorithm (SSA) for sampling trajectories of the chemical master equation for a well-stirred system of coupled chemical reactions. Our formulation is based on factored-out, partial reaction propensities. This novel exact SSA, called the partial propensity direct method (PDM), is highly efficient and has a computational cost that scales at most linearly with the number of chemical species, irrespective of the degree of coupling of the reaction network. In addition, we propose a sorting variant, SPDM, which is especially efficient for multiscale reaction networks.Comment: 23 pages, 3 figures, 4 tables; accepted by J. Chem. Phy

Who is Afraid of the Friedman Rule?

In this paper, we explore the connection between optimal monetary policy and heterogeneity among agents. We study a standard monetary economy with two types of agents in which the stationary distribution of money holdings is non-degenerate. Sans type-specific fiscal policy, we show that the zero-nominal-interest rate policy (the Friedman rule) does not maximize type-specific welfare; it may not maximize aggregate social welfare either. Indeed, one or, more surprisingly, both types may benefit if the central bank deviates from the Friedman rule. Our results suggest a positive explanation for why central banks around the world do not implement the Friedman rule.Friedman rule, monetary policy, money-in-the-utility-function

Effect of spatial bias on the nonequilibrium phase transition in a system of coagulating and fragmenting particles

We examine the effect of spatial bias on a nonequilibrium system in which masses on a lattice evolve through the elementary moves of diffusion, coagulation and fragmentation. When there is no preferred directionality in the motion of the masses, the model is known to exhibit a nonequilibrium phase transition between two different types of steady states, in all dimensions. We show analytically that introducing a preferred direction in the motion of the masses inhibits the occurrence of the phase transition in one dimension, in the thermodynamic limit. A finite size system, however, continues to show a signature of the original transition, and we characterize the finite size scaling implications of this. Our analysis is supported by numerical simulations. In two dimensions, bias is shown to be irrelevant.Comment: 7 pages, 7 figures, revte

Exact Phase Diagram of a model with Aggregation and Chipping

We revisit a simple lattice model of aggregation in which masses diffuse and coalesce upon contact with rate 1 and every nonzero mass chips off a single unit of mass to a randomly chosen neighbour with rate $w$. The dynamics conserves the average mass density $\rho$ and in the stationary state the system undergoes a nonequilibrium phase transition in the $(\rho-w)$ plane across a critical line $\rho_c(w)$. In this paper, we show analytically that in arbitrary spatial dimensions, $\rho_c(w) = \sqrt{w+1}-1$ exactly and hence, remarkably, independent of dimension. We also provide direct and indirect numerical evidence that strongly suggest that the mean field asymptotic answer for the single site mass distribution function and the associated critical exponents are super-universal, i.e., independent of dimension.Comment: 11 pages, RevTex, 3 figure

A high-resolution flexible tactile imager system based on floating comb electrodes

pre-printFlexible high-resolution contact force imagers are needed in many applications for robotic grippers and gait analysis, but its intrinsic intimate contact requirement often causes breaking of top metallization layers and failure in a short time. The use of floating electrodes has significantly improved the reliability of traditional quad-cell capacitive tactile sensing devices. In this paper we present a new type of high-resolution (676-sensors) flexible pressure/shear imager array based on floating combs. Each sensing cell consists of two sets of orthogonal comb electrodes connected in a differential capacitance configuration. The shear sense direction (+x, -x, +y, -y) is determined by the amount of asymmetric comb overlap. Pressure readouts are obtained from the net capacitance of the cell. The new comb configuration multiplies the shear capacitive signal by the number of combs per cell. The imager is read using a high-speed switched-capacitor circuit with a 12-bit resolution at full frame rates of 100 Hz (~ 0.8Mb/s)