Results 11 to 20 of about 156,200 (162)
(Almost) efficient mechanisms for bilateral trading [PDF]
Games and Economic Behavior, 2021 We study the bilateral trade problem: one seller, one buyer and a single, indivisible item for sale. It is well known that there is no fully-efficient and incentive compatible mechanism for this problem that maintains a balanced budget. We design simple and robust mechanisms that obtain approximate efficiency with these properties.
Liad Blumrosen, Shahar Dobzinski
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Approximately efficient bilateral trade
Proceedings of the 54th Annual ACM SIGACT Symposium on Theory of Computing, 2022 We study bilateral trade between two strategic agents. The celebrated result of Myerson and Satterthwaite states that in general, no incentive-compatible, individually rational and weakly budget balanced mechanism can be efficient. I.e., no mechanism with these properties can guarantee a trade whenever buyer value exceeds seller cost.
Yuan Deng +3 more
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Efficient Bilateral Trade [PDF]
Proceedings of the The Third Conference on Auctions, Market Mechanisms and Their Applications, 2015 Can two parties reach an ex-post Pareto efficient trade agreement? The importance of the question was elucidated by Coase (1960), and Myerson and Satterthwaite (1983) provided a commonly accepted negative answer that such agreement is impossible when the parties are privately informed.
Garratt, Rod, Pycia, Marek
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Trade, Competition, and Efficiency [PDF]
SSRN Electronic Journal, 2009 Abstract We present a general equilibrium model of monopolistic competition featuring pro-competitive effects and a competitive limit, and investigate the impact of trade on welfare and efficiency. Contrary to the constant elasticity case, in which all gains from trade are due to product diversity, our model allows for a welfare decomposition between
Kristian Behrens, Yasusada Murata
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Partnerships, lemons, and efficient trade [PDF]
Journal of Economic Theory, 2003 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Moldovanu, Benny +2 more
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Brainformers: Trading Simplicity for Efficiency
CoRR, 2023 Transformers are central to recent successes in natural language processing and computer vision. Transformers have a mostly uniform backbone where layers alternate between feed-forward and self-attention in order to build a deep network. Here we investigate this design choice and find that more complex blocks that have different permutations of layer ...
Yanqi Zhou +14 more
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Efficient mechanisms for bilateral trading [PDF]
Journal of Economic Theory, 1983 We consider bargaining problems between one buyer and one seller for a single object. The seller’s valuation and the buyer’s valuation for the object are assumed to be independent random variables, and each individual’s valuation is unknown to the other.
Roger B. Myerson, Mark A. Satterthwaite
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On the Efficiency-Fairness Trade-off [PDF]
Management Science, 2012 This paper deals with a basic issue: How does one approach the problem of designing the “right” objective for a given resource allocation problem? The notion of what is right can be fairly nebulous; we consider two issues that we see as key: efficiency and fairness.
Dimitris Bertsimas +2 more
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Agricultural Economics (AGRICECON), 2011 The contribution is aimed at changes in the foreign trade of the Slovak Republic with agricultural and food products from 2004. The attention was paid to mutual relations of the imported and exported agricultural products.
Jozef GÁLIK
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Trade-offs among cost, integration, and segregation in the human connectome
Network Neuroscience, 2023 The human brain structural network is thought to be shaped by the optimal trade-off between cost and efficiency. However, most studies on this problem have focused on only the trade-off between cost and global efficiency (i.e., integration) and have ...
Junji Ma +5 more
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