type="main" <p>We present field evidence concerning experienced bidders that supports the linkage principle—specifically, the prediction that in affiliated-values auction environments the expected revenues generated at open-outcry, ascending-bid auctions are higher than those under auction...</p>

We construct a stochastic dynamic programming model as the basis of an empirical framework within which to examine the effects of different sequences of work and rest on the daily productivity of workers who planted trees in the province of British Columbia, Canada, comparing the intertemporal...

In many dynamic programming problems, a mix of state variables exists - some exhibiting stochastic cycles and others having deterministic cycles. We derive a formula for the value function in infinite-horizon, stationary, Markovian decision problems by exploiting a special partitioned-circulant...