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Computing Equilibria in Markets with Budget-Additive Utilities [article]

Xiaohui Bei, Jugal Garg, Martin Hoefer, Kurt Mehlhorn
2016 arXiv   pre-print
We present the first analysis of Fisher markets with buyers that have budget-additive utility functions.  ...  buyer and each good.  ...  The buyers' utilities amount to 5 and 1, resp., and the prices are p 1 = 3 and p 2 = 1. Now suppose buyer 1 has a budget-additive utility function with cap c 1 = 1.  ... 
arXiv:1603.07210v2 fatcat:yfi3nn7izzbutbivcteqdqcj4y

Spending Constraint Utilities with Applications to the Adwords Market

Vijay V. Vazirani
2010 Mathematics of Operations Research  
We present a new, natural class of utility functions which allow buyers to explicitly provide information on their relative preferences as a function of the amount of money spent on each good.  ...  These utility functions offer considerable expressivity, especially in Google's Adwords market.  ...  Let f ij be the piecewise-linear, concave utility function of buyer i for good j; f ij is a function of x ij , the allocation of good j to buyer i.  ... 
doi:10.1287/moor.1100.0450 fatcat:c2wdpn7ntvc6bh6odo3gq5e67q

Markets Beyond Nash Welfare for Leontief Utilities [article]

Ashish Goel and Reyna Hulett and Benjamin Plaut
2019 arXiv   pre-print
We study the allocation of divisible goods to competing agents via a market mechanism, focusing on agents with Leontief utilities.  ...  Second, we use duality to show that in the bandwidth allocation setting, any allocation maximizing a CES welfare function can be supported by price curves.  ...  [19] ) beyond Nash welfare to almost all CES welfare functions.  ... 
arXiv:1807.05293v3 fatcat:sisk6kkrj5ajjigyuyzz7pmdyi

Dividing Goods or Bads Under Additive Utilities

Anna Bogomolnaia, Herve Moulin, Fedor Sandomirskiy, Elena Yanovskaya
2016 Social Science Research Network  
Beyond the fair division of private goods, RM has been applied to a broad range of resource allocation problems with production and/or indivisibilities. 5 Fair Share Guarantee (FSG) says that nobody  ...  Each agent is endowed with linear preferences over [0, 1] A , represented for convenience by a vector u i ∈ R A + : a utility function in the case of goods, a disutility function in that of bads.  ...  Recall that F c (Q) is the set of critical points of the Nash product in Ψ ef f (Q).The k/k + 1-cut allocations are the extreme points of the set of feasible allocations Φ (N, A) , and their utility profiles  ... 
doi:10.2139/ssrn.2826474 fatcat:cvpjd36mqba45pe2ph4o6y2b2q

Accounting Aspects of Utility Rate Regulation

Lloyd J. Klein
1954 Law & Contemporary Problems  
Behind the final answer lies the area of accounts-the sales, the capital expenditures, the depreciation accruals, the return, and the operating expenses.  ...  The final expressions of the relative inadequacy, or excessiveness, of present rate schedules and the reasonableness of the proposed new tariffs are deceptive in their simplicity.  ...  The completed separation method involves basic allocations to functions and reallocations within functions to demand and commodity components.  ... 
doi:10.2307/1190218 fatcat:gqdoq5uwmzffblm63vok3pjdni

A Transaction Utility Approach for Bidding in Second-Price Auctions

Serdar Sayman, Yalçın Akçay
2020 Journal of Interactive Marketing  
However, in practice, buyers tend to bid less than their reservation prices, and bid multiple times, thus increase their bids, in the course of an auction.  ...  In this paper, we show that both underbidding and multiple bidding behaviors can be consistent with utility maximization, if buyer's utility incorporates a transaction utility (reference price dependent  ...  Reference price is a subjective benchmark used by the buyer; e.g., "fair" price, last price paid etc.  ... 
doi:10.1016/j.intmar.2019.06.001 fatcat:h222ic3o65giteialz2yehi3gq

3. Sacred Lineages in Central Asia: Translocality and Identity [chapter]

Azim Malikov
2018 Mobilities, Boundaries, and Travelling Ideas: Rethinking Translocality Beyond Central Asia and the Caucasus  
, and that expands beyond local or national templates and thus produces hybrid and flexible Muslim identities.  ...  means to fulfil institutional functions (ibid.).  ...  how their senses of wellbeing and identity are shaped by the myriad flows of things, people, and ideas across the borders of nation states and the boundaries After an unexpected three-week spell of medical  ... 
doi:10.11647/obp.0114.03 fatcat:n5ekulkl2fbtfjajo3hq4pavpa

Coalition Formation and Combinatorial Auctions; Applications to Self-organization and Self-management in Utility Computing [article]

Dan C. Marinescu and Ashkan Paya and John P. Morrison
2015 arXiv   pre-print
, a clock phase and a proxy phase.  ...  The protocol strikes a balance between low-cost services for cloud clients and a decent profit for the service providers.  ...  A cloud federation formation described as a hedonic game and focused on the stability and the fairness of the game is discussed in [23] .  ... 
arXiv:1406.7487v3 fatcat:3lxe4zmlnvh2vi3oi7yvfy7gom

Integrating Financial and Physical Contracting in Electric Power Markets [chapter]

Chitru S. Fernando, Paul R. Kleindorfer
1997 The Virtual Utility  
operate in a commercial manner, and transparent rules and incentives for efficient contracting and pricing.  ...  These include transparent and efficient markets for both long-term and short-term transactions, dynamic efficiency and innovation, customer-focused operations, and system integrity.  ...  The authors are grateful for constructive comments on an earlier draft by Shimon Awerbuch, Beverly Brereton, Mark Reeder, Sandy Robinson and Donjun Wu.  ... 
doi:10.1007/978-1-4615-6167-5_7 fatcat:w5jutzfwvrgifljz5nmflrdsfe

Four notions of mean-preserving increase in risk, risk attitudes and applications to the rank-dependent expected utility model

Alain Chateauneuf, Michèle Cohen, Isaac Meilijson
2004 Journal of Mathematical Economics  
the study of Pareto allocations, ordering of insurance premia and other applications in the Expected Utility setup.  ...  This article presents various notions of risk generated by the intuitively appealing single-crossing operations between distribution functions.  ...  (ii) Let the transformation function be bounded from above by the identity function and star-shaped at 1, and the utility function be concave (e.g., linear).  ... 
doi:10.1016/s0304-4068(03)00044-2 fatcat:d4wxxcvxafhwdcdl3c43nlt2gi

Fairness, Utility, and Market Risk

Jeff Schwartz
2010 Social Science Research Network  
I ask whether today's riskmanagement framework is effective, efficient, and fair. I argue that it comes up short in these regards and consider avenues of reform.  ...  Beyond that, I argue, we rely on a largely market-based paradigm, where individuals are expected to manage volatility on their own by diversifying their portfolios and investing for the long term.  ...  a utility function that is concave over gains and convex over losses.  ... 
doi:10.2139/ssrn.1565834 fatcat:rpqjnxjc4rfbnjv3soz7rpseqm

The Development of Utility Theory. II

George J. Stigler
1950 Journal of Political Economy  
poor buyers and the ‘‘disturbing cause.”  ...  Let us now shift to the marginal utility of (say) 60 bottles of beer as our unit and proceed in identical fashion to find Am,, Am;,..., and thus measure the utility of milk in terms of beer.  ... 
doi:10.1086/256980 fatcat:b6o723if5jalff3ol22vhslscq

The Development of Utility Theory. I

George J. Stigler
1950 Journal of Political Economy  
He represented marginal utilities by numbers and em- ployed an equality of marginal utilities in various uses as the criterion of the optimum allocation of a good.** His word for utility — Bedeutung —  ...  buyer increases by 10 francs There is is produced” hy; to produce is so francs, as mon poly or very buyer of 30 francs If some cir t Tumstance i rancs a cancellation; no utility id., pp. 52-53) GEORGE  ... 
doi:10.1086/256962 fatcat:xmxe62r3z5f3rafocsbmla6tae

The Gridbus Middleware for Market-Oriented Computing [chapter]

Rajkumar Buyya, Srikumar Venugopal, Rajiv Ranjan, Chee Shin Yeo
2009 Market-Oriented Grid and Utility Computing  
ACKNOWLEDGMENTS This project was partially funded by Australian Research Council (ARC) and the Department of Innovation, Industry, Science and Research (DIISR) under Discovery Project and International  ...  Libra þ $ is fair since requests are priced according to the amount of different resources utilized.  ...  This ensures that the cheapest requested timeslot is allocated first if it is available. Selecting available timeslots with the lowest prices first is fair and realistic.  ... 
doi:10.1002/9780470455432.ch26 fatcat:ergif7of6zguxdnenfc2xn3q7q

Regulation and De-Regulation [chapter]

2005 Understanding Electric Utilities and De-Regulation  
We can also wonder what objective function utilities want to maximize? Being a public utility keeps them from maximizing profits.  ...  Auctions are, therefore, considered to be a more objective way to allocate scarce frequencies. Auctions let prospective buyers bid for a license.  ... 
doi:10.1201/9781420028263.ch10 fatcat:3dxuygzpk5fd3dcxcwfngqgw6y
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