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We consider the problem of optimal information sharing in an unobservable single-server queue offering service at a fixed price to a Poisson arrival of delay-sensitive customers. The service provider observes the queue, and may share state information with arriving customers. The customers are...
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We study the effectiveness of information design in reducing congestion in social services catering to users with varied levels of need. In the absence of price discrimination and centralized admission, the provider relieson sharing information about wait times to improve welfare. We consider a...
Persistent link: https://www.econbiz.de/10013226729
Individuals increasingly rely on social networking platforms to find information and form opinions. However, there are concerns on whether or how these platforms lead to extremism and polarization, especially since they typically aim to maximize engagement which may not align with other social...
Persistent link: https://www.econbiz.de/10012825432
Most school choice and other matching mechanisms are based on deferred acceptance (DA) for its incentive properties. However, non-strategyproof mechanisms can dominate DA in welfare because manipulation in preference rankings can reflect the intensities of underlying cardinal preferences. In...
Persistent link: https://www.econbiz.de/10012870761
A seller wants to sell an indivisible item to n buyers. The buyer valuations are drawn i.i.d. from a distribution, but the seller does not know this distribution; the seller only knows the support [a,b]. To be robust against the lack of knowledge of the environment and buyers' behavior, the...
Persistent link: https://www.econbiz.de/10014344636
Classical Bayesian mechanism design relies on the common prior assumption, but the common prior is often not available in practice. We study the design of prior-independent mechanisms that relax this assumption: the seller is selling an indivisible item to n buyers such that the buyers’...
Persistent link: https://www.econbiz.de/10013289909
We consider a discrete time Markov Decision Process (MDP) under the discounted payoff criterion in the presence of additional discounted cost constraints. We study the sensitivity of optimal Stationary Randomized (SR) policies in this setting with respect to the upper bound on the discounted...
Persistent link: https://www.econbiz.de/10010847518