In mechanism design it is typical to impose incentive compatibility and then derive an optimal mechanism subject to this constraint. By replacing the incentive compatibility requirement with the goal of minimizing expected ex post regret, we are able to adapt statistical machine learning techniques to the design of payment rules. This computational approach to mechanism design is applicable to ...

In this paper we propose a market mechanism for regulated exit of highly emissions intensive power stations from the electricity grid. The starting point is that there is surplus capacity in coal fired power generation in Australia. In the absence of a carbon price signal, black coal generation capacity may leave the market instead of high emitting brown coal power stations. We lay out options ...

This paper introduces a mechanism for establishing policies for electronic commerce in a uni ed and secure manner. A commercial policy can be viewed as the embodiment of a contract between the principals involved in a certain type of commercial activity, and it may be concerned with such issues as: ensuring that a payment for services is refunded under speci ed circumstances; preventing certi c...

Abstract The primary objective of this scholarly work is to develop two estimation procedures – maximum likelihood estimator (MLE) and method trimmed moments (MTM) for the mean variance lognormal insurance payment severity data sets affected by different loss control mechanism, example, truncation (due deductibles), censoring policy limits), scaling coinsurance proportions), in financial indust...

OBJECTIVE To examine associations between physician reimbursement incentives and diabetes care processes and explore potential confounding with physician organizational model. DATA SOURCES Primary data collected during 2000-2001 in 10 managed care plans. STUDY DESIGN Multilevel logistic regressions were used to estimate associations between reimbursement incentives and process measures, inc...

We study a market model where a data analyst uses monetary incentives to procure private data from strategic data subjects/ individuals. To characterize individuals’ privacy concerns, we consider a local model of differential privacy, where the individuals do not trust the analyst so privacy costs are incurred when the data is reported to the data analyst. We investigate a basic model where the...

Currently, the legitimate transfer of ownership of an asset occurs either through voluntary means—gift, bequest, sale—or through the use of state power—compulsory acquisition, resumption, eminent domain, court order. In Australia and elsewhere, compulsory acquisition of private property is followed by the payment of compensation, which may be too little or too great. This paper outlines an auct...