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This paper considers an auction design framework in which bidders get partial feedback about the distribution of bids submitted in earlier auctions: either bidders are asymmetric but past bids are disclosed in an anonymous way or several auction formats are being used and the distribution of bids, but not the associated formats, is disclosed. I employ the analogy-based expectation equilibrium (Jehiel 2005) to model such situations. First-price auctions in which past bids are disclosed in an anonymous way generate more revenues than second-price auctions while achieving an efficient outcome in the asymmetric private values two-bidder case with independent distributions. Besides, by using several auction formats with coarse feedback, a designer can always extract more revenues than in Myerson's optimal auction, and yet less revenues than...
As we move towards an aging population, it is likely that an increasing number of people will require an increasing diversity of implants, but at a lower cost to the society. Also, as computer technology progresses, smaller, more powerful, and less battery intensive implants can be designed. However, present implant design methodology is highly inefficient at meeting these goals as it suffers from non-reuse of existing knowledge by relying heavily on custom designs and ASICs. The SiMS project was started with the goal of creating pre-designed, pre-tested, and pre-certified toolbox of components for biomedical implants that can be assembled in a modular fashion for various application scenarios. One of the most important components in such a tool-box is the processor. Designing such a processor is a non-trivial task and previous work ha...
We study a mechanism design problem under the assumption that renegotiation cannot be prevented. We investigate what kind of equilibria of which mechanisms are renegotiation-proof under a variety of renegotiation procedures, and which social choice functions can be implemented in a way that is renegotiation-proof. In complete information environments, we show that the set of ex post renegotiation- roof implementable social choice functions contains all ex post efficient allocations when there at least three agents, but only budget balanced Groves allocations when there are two agents. In incomplete information environments with correlated beliefs and at least three agents, every ex post efficient social choice function can be implemented in the presence of ex post renegotiation, but with independent private values only social choice fu...
We introduce intention-based social preferences into a Bayesian mechanism design framework. We first show that, under common knowledge of social preferences, any tension between material efficiency, incentive compatibility, and voluntary participation can be resolved. Hence, famous impossibility results such as the one by Myerson and Satterthwaite (1983) are turned into possibility results. Second, we provide a systematic account of the welfare implications of kindness sensations. Finally, we turn to an environment without common knowledge of social preferences and introduce the notion of a psychologically robust mechanism. Such a mechanism can be implemented without information about the type or the intensity of social preferences. We show that the mechanisms which have been the focus of the conventional mechanism design literature ca...
Along the northern coast of Morocco order has been given for the construction of a large transshipment port in the Mediterranean Sea, at a designated project location around the city of Nador. On this green-field coastal stretch a new transhipment port will have to be developed for various types of cargo. Throughputs of the terminals will have to be maximized, a plan for in-phased port development and expansion will have to be provided, cargo transport to the hinterland has to be taken into account and sufficient surface space should be included in the design for additional services. Relevant data regarding the project (location) has been identified and analyzed: hydrodynamic data (wind, waves, currents, water levels) and environmental site data (topography, bathymetry, geology, hydrology and morphology). Besides this, a forecast has b...
Heuristics have long been recognised as a way to tackle problems which are intractable because of their size or complexity. They have been used in software engineering for purposes such as identification of favourable regions of design space. Some heuristics in software engineering can be expressed in high-level abstract terms while others are more specific. Heuristics tend to be couched in terms which make them hard to automate. In our previous work we have developed robust semantic models of software in order to support the computation of metrics and the construction of visualisations which allow their interpretation by developers. In this paper, we show how software engineering heuristics can be supported by a semantic model infrastructure. Examples from our current work illustrate the value of combining the rigour of a semantic mod...
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