Title of dissertation: ESSAYS ON AUCTION THEORY Justin Ellis Burkett, Doctor of Philosophy, 2012 Dissertation directed by: Professor Lawrence M. Ausubel Department of Economics This dissertation studies two features of high-value auctions that are not explicitly captured by the standard models in the auction theory literature. The first is that bidders in auctions for valuable assets sometimes ...

in which the summation is taken over all y1 goods and where wi is the budget share of commodity i, qi is the quantity of good i, pi is the unit price of good i, x is total expenditure, and P is the Divisia price index, implicitly defined as d In P = cj wj.d In pi. The parameter pi is the (constant) marginal budget share of good i; negativity of the substitution effect imposes 7rii < 0. The left...

Inventory positions of two risk averse market makers are introduced into a Kyle (1985) type batch trading model and the effects are analyzed. An equilibrium is defined with participation constraint and incentive compatibility and it is characterized as γ-coalitional equilibrium. At the equilibrium the two market makers share the risk of clearing orders so that the aggregate pricing schedule bec...

Delay budget is an excess delay that each component of a design can tolerate under a given timing constraint. Delay budgeting has been widely exploited to improve the design quality. This paper presents the idea of incrementally re-assigning the delay budgets allotted to different components of a design, which leads to avoiding the re-execution of the intensive budget assignment procedure in ea...

This study discusses how to adjust “monetary budget” to meet each user’s physical power demand or balance all individual utilities in a competitive “spectrum market” of a communication system. In the market, multiple users share a common frequency or tone band and each of them uses the budget to purchase its own transmit power spectra (taking others as given) in maximizing its Shannon utility o...

Nature-inspired search algorithms have proved to be successful in solving real-world optimization problems. Firefly algorithm is a novel meta-heuristic algorithm which simulates the natural behavior of fireflies. In the present study, optimum design of truss structures with both sizing and geometry design variables is carried out using the firefly algorithm. Additionally, to improve the efficie...

Zipf distribution is known to describe various natural and social phenomena, including size of starts, city populations, words frequency in literature, immune systems, and size of firms. In this paper we show that market shares in the world cola-drink market follows a special kind of skewed distribution, which we call polynomial distribution

in this paper, the effect of financial liberalization on household’s budget liquidity constraint is analyzed with the use of an error correction model. financial liberalization will decline liquidity constraint, with expanding means of making future incomes available for present consumption. here a financial liberalization index for iran is defined using principal component analysis technique, ...

In 1982, Drezner proposed the (1|1)-centroid problem on the plane, in which two players, called the leader and the follower, open facilities to provide service to customers in a competitive manner. The leader opens the first facility, and the follower opens the second. Each customer will patronize the facility closest to him (ties broken in favor of the first one), thereby decides the market sh...

This paper examines the role of advertising in the evolution of market structure in the US mutual fund industry. First, I present empirical evidence that mass advertising in this industry creates endogenous sunk costs, resulting in patterns consistent with Sutton’s (1991) predictions. In particular, I contrast evolutionary patterns of advertising spending and market structure between two segmen...