8,370 research outputs found

    On Optimal Mechanisms in the Two-Item Single-Buyer Unit-Demand Setting

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    We consider the problem of designing a revenue-optimal mechanism in the two-item, single-buyer, unit-demand setting when the buyer's valuations, (z1,z2)(z_1, z_2), are uniformly distributed in an arbitrary rectangle [c,c+b1]×[c,c+b2][c,c+b_1]\times[c,c+b_2] in the positive quadrant. We provide a complete and explicit solution for arbitrary nonnegative values of (c,b1,b2)(c,b_1,b_2). We identify five simple structures, each with at most five (possibly stochastic) menu items, and prove that the optimal mechanism has one of the five structures. We also characterize the optimal mechanism as a function of b1,b2b_1, b_2, and cc. When cc is low, the optimal mechanism is a posted price mechanism with an exclusion region; when cc is high, it is a posted price mechanism without an exclusion region. Our results are the first to show the existence of optimal mechanisms with no exclusion region, to the best of our knowledge

    Almost Budget Balanced Mechanisms with Scalar Bids For Allocation of a Divisible Good

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    This paper is about allocation of an infinitely divisible good to several rational and strategic agents. The allocation is done by a social planner who has limited information because the agents' valuation functions are taken to be private information known only to the respective agents. We allow only a scalar signal, called a bid, from each agent to the social planner. Yang and Hajek [Jour. on Selected Areas in Comm., 2007] as well as Johari and Tsitsiklis [Jour. of Oper. Res., 2009] proposed a scalar strategy Vickrey-Clarke-Groves (SSVCG) mechanism with efficient Nash equilibria. We consider a setting where the social planner desires minimal budget surplus. Example situations include fair sharing of Internet resources and auctioning of certain public goods where revenue maximization is not a consideration. Under the SSVCG framework, we propose a mechanism that is efficient and comes close to budget balance by returning much of the payments back to the agents in the form of rebates. We identify a design criterion for {\em almost budget balance}, impose feasibility and voluntary participation constraints, simplify the constraints, and arrive at a convex optimization problem to identify the parameters of the rebate functions. The convex optimization problem has a linear objective function and a continuum of linear constraints. We propose a solution method that involves a finite number of constraints, and identify the number of samples sufficient for a good approximation.Comment: Accepted for publication in the European Journal of Operational Research (EJOR

    Performance Implications of Diversification in Professional Service Firms: The Role of Synergies

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    There is growing interest in the Professional service firms because they are seen as archetype of the knowledge-based economy. In this study we look at under researched area of exploitation of synergies in professional service firms and its implications for performance. Overcoming the uni-dimensional nature of extant studies, we examine the performance implications of diversification along the twin dimensions of services they offer and the knowledge of the industry domain of their clients. We hypothesize that moderate levels of coherence in these dimensions lead to improved performance while excess coherence in these domains lead to diminished performance. These predictions are tested and supported by data from the Indian IT industry which is synonymous with emergence of knowledge economy in India. Our study thus contributes to the theory of diversification of professional service firms.

    Prevalence of exclusive breastfeeding and its determinants in first 6 months of life: A prospective study

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    Background: Exclusive breastfeeding for first 6 months of life is recommended under Infant and Young Child Feeding practices in India. The objective of present study was to estimate the prevalence of exclusive breastfeeding during first 6 months of life of babies and to identify factors that interfere with the practice in the study area. Methods: A prospective cohort of 462 women who delivered at maternity unit of Government Medical College & Hospital, Rajkot, which is a tertiary care centre for the district, was studied. Data collection was done at hospital as well as during home visits of babies at 1, 3 and 6 months. Factors related to cessation of breastfeeding were analyzed using univariate, bivariate and multivariate analysis. Results: All 462 mothers reported breastfeeding their newborns. Prevalence of exclusive breastfeeding reported at 3 months was 97% which declined to 62% by 6 months of age of infants. Bivariate analysis revealed no significant association between interruption of exclusive breastfeeding before 6 months of age and various demographic, socioeconomic, maternal and infant characteristics. Multivariate analysis by logistic regression demonstrated no association between discontinuation of exclusive breastfeeding and socioeconomic status, maternal education and maternal age, number of antenatal visits, maternal employment and initiation of breastfeeding after delivery. Conclusion: Exclusive breastfeeding prevalence rate found higher than at national level indicating better feeding practices in these part of India. Also, factors classically considered as supportive for breastfeeding had shown no association with breastfeeding pattern in present study

    Infinite randomness and quantum Griffiths effects in a classical system: the randomly layered Heisenberg magnet

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    We investigate the phase transition in a three-dimensional classical Heisenberg magnet with planar defects, i.e., disorder perfectly correlated in two dimensions. By applying a strong-disorder renormalization group, we show that the critical point has exotic infinite-randomness character. It is accompanied by strong power-law Griffiths singularities. We compute various thermodynamic observables paying particular attention to finite-size effects relevant for an experimental verification of our theory. We also study the critical dynamics within a Langevin equation approach and find it extremely slow. At the critical point, the autocorrelation function decays only logarithmically with time while it follows a nonuniversal power-law in the Griffiths phase.Comment: 10 pages, 2 eps figures included, final version as published

    Fractional quantum Hall states in two-dimensional electron systems with anisotropic interactions

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    We study the anisotropic effect of the Coulomb interaction on a 1/3-filling fractional quantum Hall system by using an exact diagonalization method on small systems in torus geometry. For weak anisotropy the system remains to be an incompressible quantum liquid, although anisotropy manifests itself in density correlation functions and excitation spectra. When the strength of anisotropy increases, we find the system develops a Hall-smectic-like phase with a one-dimensional charge density wave order and is unstable towards the one-dimensional crystal in the strong anisotropy limit. In all three phases of the Laughlin liquid, Hall-smectic-like, and crystal phases the ground state of the anisotropic Coulomb system can be well described by a family of model wave functions generated by an anisotropic projection Hamiltonian. We discuss the relevance of the results to the geometrical description of fractional quantum Hall states proposed by Haldane [ Phys. Rev. Lett. 107 116801 (2011)].Comment: 8 pages, 8 figure
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