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An important objective in process design in the wood-processing industry is to make the system robust – or insensitive – to sources of variability that cannot be entirely controlled once the system is...
Currently, increasing emphasis is placed on performance measurement and management. The paper is concerned with the connection between the performance of an enterprise in general and financial perform...
National income accounting would be a relatively simple matter were it not for “capital.” All flows of output would then be for immediate consumption, and labor would be the sole factor of prod...
The Treasury proposes to invest $700 billion in mortgage-related securities to resolve the financial crisis, using market mechato determine prices. A well-designed auction process can indeed b...
Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and tran...
This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to began in 2008. The regulated market consists of residential and other small customers. Currently, ...
This paper examines principles of market design as applied to electricity markets. I illustrate the principles with examples of both good and bad designs. I discuss one of the main design challe...
The high-frequency trading arms race is a symptom of flawed market design. Instead of the continuous limit order book market design that is currently predominant, we argue that financial...
The 2010 German 4G spectrum auction was an unusually large simultaneous ascending multi-band auction. The bidding was competitive, the final assignment was efficient and the revenue was close to e...
Spectrum Auction Design     Auction Design  price       2015/9/18
Spectrum auctions are used by governments to assign and price licenses for wireless communications. The standard approach is the simultaneous ascending auction, in which many related lots are auct...
We analyze the demand for emissions allowances and the supply of allowances and abatement opportunities in California's 2013-2020 cap and trade market for greenhouse gases (GHG). We estimate a coin...
The Job Market for New Economists:A Market Design Perspective.
The past decade has seen the explosive emergence of online advertising as a major source of revenue for Internet publishers. Analyses of this phenomenon are mostly conducted in the sway of Google’s hu...
We model an online display advertising environment with brand advertisers and betterinformed performance advertisers, and seek an auction mechanism that is strategy-proof, anonymous and insulates bran...

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