Showing 1 - 10 of 4,187
For many years, Donald Shoup has been advocating cashing out free and underpriced curbside parking. How should this be … implemented in practice, taking into account the stochasticity of curbside parking vacancies? Shoup has proposed setting … neighborhood/period of the day-specific meter rates such that a common target (average) curbside parking occupancy rate is achieved …
Persistent link: https://www.econbiz.de/10010189827
In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following …-state hypercongested equilibrium can be stable. For a particular structural model of downtown traffic flow and parking, this paper … congestion ; cruising for parking ; on-street parking ; hypercongestion …
Persistent link: https://www.econbiz.de/10003806722
In downtown areas, what proportion of curbside should be allocated to parking? In contrast to most previous work on the … economics of parking, this paper focuses on optimal curbside parking capacity in both first-best (where pricing is efficient … parking, and then the situation where there may be both curbside and private garage parking. For each situation, it examines …
Persistent link: https://www.econbiz.de/10009691666
We analyze the effects of better algorithmic demand forecasting on collusive profits. We show that the comparative statics crucially depend on the whether actions are observable. Thus, the optimal antitrust policy needs to take into account the institutional settings of the industry in question....
Persistent link: https://www.econbiz.de/10013093034
Sophisticated collusive compensation schemes such as assigning future market shares or direct transfers are frequently observed in detected cartels. We show formally why these schemes are useful for dampening deviation incentives when colluding firms are temporary asymmetric. The relative...
Persistent link: https://www.econbiz.de/10012698813
Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks … the willingness of participants to follow the advice of a reinforcement learning algorithm depends on the fit between … their own exploration preferences and the algorithm's advice. We vary the weight that the algorithm places on exploration …
Persistent link: https://www.econbiz.de/10013482224
This paper provides a simple theoretical framework to evaluate the effect of key parameters of ranking algorithms, namely popularity and personalization parameters, on measures of platform engagement, misinformation and polarization. The results show that an increase in the weight assigned to...
Persistent link: https://www.econbiz.de/10013413453
We study the propensity of independent algorithms to collude in repeated Cournot duopoly games. Specifically, we investigate the predictive power of different oligopoly and bargaining solutions regarding the effect of asymmetry between firms. We find that both consumers and firms can benefit...
Persistent link: https://www.econbiz.de/10015186355
We study the interaction between algorithmic advice and human decisions using high-resolution hotel-room pricing data. We document that price setting frictions, arising from adjustment costs of human decision makers, induce a conflict of interest with the algorithmic advisor. A model of advice...
Persistent link: https://www.econbiz.de/10014444885
This paper addresses the steep learning curve in Machine Learning faced by non-computer scientists, particularly social scientists, stemming from the absence of a primer on its fundamental principles. I adopt a pedagogical strategy inspired by the adage ”once you understand OLS, you can work...
Persistent link: https://www.econbiz.de/10015070152