Recent years have seen a number of new and important applications of stable matching procedures in practical applications, including school assignments in New York and Boston and new designs for life-saving organ exchanges. The mechanisms that have been adopted, and sometimes even the runner-up mechanisms, are stable mechanisms that select...
This paper explains a new auction mechanism, which we call the "Generalized Second-Price" auction, or GSP. GSP is tailored to the unique environment of the market for online ads, and neither the environment nor the mechanisms have previously been studied in the mechanism design literature. While studying the properties of...
In this paper, one uses a mechanism design approach to study these questions. The main advantage to this approach is its generality: in view of the Revelation Principle, any equilibrium of any conceivable game can be induced by the truth-telling equilibrium of an incentive-compatible revelation mechanism. Thus, ones approach allows...
One investigates the "Generalized Second Price" auction GSP, a new mechanism which is used by search engines to sell online advertising that most Internet users encounter daily. GSP is tailored to its unique environment, and neither the mechanism nor the environment has previously been studied in the mechanism design literature....
Reverse auctions are fast becoming the standard for many procurement activities. In the past, the majority of such auctions have been solely price-based, but increasingly attributes other than price affect the auction outcome. Specifically, the buyer uses a scoring function to compare bids, and the bid with the highest score...
A criticism of mechanism design theory is that the optimal mechanism designed for one environment can produce drastically different actions, outcomes, and payoffs in a second, even slightly different, environment. In this sense, the theoretically optimal mechanisms usually studied are not "robust." In order to study robust mechanisms while maintaining...
The paper reviews cases in which countries employed alternative mechanisms to restructure their financial and corporate sectors. Initial declines in economic activity that begin as a normal recession become larger as those losses result in large exchange rate movements and collapses of banks. The paper briefly reviews the policy setting...
A key feature of the handheld is to provide a personalized and up-to-date list of patients for each physician. Through its direct connection to MEDITECH, PatientKeeper accomplishes this through three mechanisms. The first is to provide patients that are directly associated with the physician - those which have the physician...
Strategy-proofness, requiring that truth-telling is a dominant strategy, is a standard concept in social choice theory. However, the concept of strategy-proofness has serious drawbacks. First, announcing one's true preference may not be a unique dominant strategy, and using the wrong dominant strategy may lead to the wrong outcome. Second, almost...
Strategy-proofness, requiring that truth-telling is a dominant strategy, is a standard concept used in social choice theory. In particular, announcing one's true preference may not be a unique dominant strategy, and almost all strategy-proof mechanisms have a continuum of Nash equilibria. For only a subset of strategy-proof mechanisms do the...
This paper investigates how different types of rating mechanisms can affect transaction costs in business-to-business electronic commerce. In consumer electronic marketplaces, where the asset-specificity of the transactions is generally low, simple unweighted rating mechanisms have been shown to increase trust and therefore also decrease the transactions costs associated with opportunistic...
Asset pricing theory hypothesizes that investors are only interested in portfolios; individual securities are evaluated only in terms of their contribution to portfolio risk and return. Yet, standard financial market design is that of parallel, unconnected markets, whereby investors cannot submit orders in one market conditional on events in others....
This paper shows that the organizations and social movement's literatures have developed serendipitously along parallel paths and, as a result, share insights regarding several important issues. In particular, there are strong similarities in terms of the mechanisms by which organizations and social movements develop and change. This paper articulates the...
The integration of marketing and R&D is a major concern for companies that want to improve their new product performance NPP. In order to integrate, companies are using mechanisms such as physical proximity, cross-functional teams, and job rotation. This study examines the relative effectiveness of these mechanisms by developing a...
Earnings Call ExcerptStart time: 11:00 End time: 11:33 Northwest Natural Gas Company NWN Q3 2008 Earnings Call November 4, 2008 11:00 am Executives Mark S. Dodson – Chief Executive Officer David H. Anderson – Senior Vice President & Chief Financial Officer Alex Miller - Managing Director Analysts...
INTRODUCTION In a winner-take-all function, a collective dynamic competition takes place, which receives the maximum input and suppresses activity in all the other nodes of the network. The mechanism that is responsible for this type of behavior is the competition for a limited resource such as laser resonator...
INTRODUCTION The development, growth, and remodeling of skeletal structures is a highly regulated process beginning with mesenchymal stem cells condensations in the early embryo and finishing with the homeostatic skeleton of the adult. It is widely accepted that both genetic and epigenetic factors determine the final shape and...
INTRODUCTION Arterial thrombosis can block blood flow to heart and brain tissues and cause a heart attack or stroke. Clinical studies confirm the link between thrombosis and atherosclerosis (1). Thrombus superimposed on ruptured atherosclerotic plaque is commonly found in autopsy studies of heart disease (2), (3), (4). Thrombosis...
INTRODUCTION The most widely used ceramic materials are alumina, A[l.sub.2][O.sub.3] and zirconia, Zr[O.sub.2], because of their excellent bio-compatibility. The main advantage of A[l.sub.2][O.sub.3] is its high hardness and wear resistance, while Zr[O.sub.2] exhibits higher strength and fracture toughness, besides its lower Young' s modulus (1), (2), (3), (4),...
INTRODUCTION The elastic linear mechanics of fracture MLER is a usual theory for analysing the fracture of metals or brittle materials such as glass or ceramics (1). All the phenomena of damage are supposed to be concentrated at the tip crack. As for the nonlinear mechanics of fracture...
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