We develop a powerful and user-friendly program for numerically solving first price auction problems where an arbitrary number of bidders draw independent valuations from heterogenous distributions and the auctioneer imposes a reserve price for the object. The heterogeneity in this model arises...

This paper investigates private-value `reserve price' auctions when there is a strong bidder in an n-bidder model. Consider an auction model, in which bidders draw their values from the same distribution, but then identity of the high-value bidder is revealed. This can be more plausible than the...

We propose using the information revealed through auctions, including in particular the unsuccessful bids, to identify latent demand. Applied to combinatorial auctions for bundles of goods, this information can identify new bundles with particularly high valuations, expressed by their high...

The Use of a Simple Decision Rule in Repeated Oligopoly Games Much interest has been directed towards decision rules and conditions when firms make decisions converging to a non-cooperative Nash equilibrium in repeated oligopoly games. We explore the use of a simple decision rule where firms...

Distributed clusters like the Grid and PlanetLab enable the same statistical multiplexing efficiency gains for computing as the Internet provides for networking. One major challenge is allocating resources in an economically efficient and low-latency way. A common solution is proportional share,...

Markets for digital information goods provide the possibility of exploring new and more complex pricing schemes, due to information goods' flexibility and negligible marginal cost. In this paper we compare the dynamic performance of price schedules of varying complexity under two different...

In this paper, a simulation of high-frequency market data is performed with the Genoa Artificial Stock Market. In the market model, heterogeneous agents trade a risky asset in exchange for cash. Agents have zero intelligence and issue random limit or market orders depending on their budget...

This paper explores how the introduction of Rational Inattention (RI) affects optimal consumption and portfolio rules and asset pricing in the consumption-based CAPM framework. I first solve an otherwise standard portfolio choice and asset pricing model with RI explicitly and show that RI can...