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We study the optimal design of a queueing system when agents' arrival and servicing are governed by a general Markov process. The designer of the system chooses entry and exit rules for agents, their service priority---or queueing discipline---as well as their information, while ensuring that...
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Contrary to common practice in selling homes and start-ups, mechanism design theory typically recommends English … (increasing price) over Dutch (decreasing price) auctions. Yet this theory neglects the uncertain investment required to …
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