Recently both the range and the value of objects sold by auction have grown tremendously. An auction is an exchange mechanism with asymmetric information. Auctions are so popular because when the seller is unsure about the value that bidders assign to the sold objects, one possible way to reveal the bidder who is willing to pay the highest price for the object is to apply an appropriate auction...

The withdrawal of water for i r r igat ion in the d ryer regions of Mexico already accounts for some 91% of potential availabil i ty. Fur ther expansion of i r r igated acreage, therefore, must re ly more on increased water use efficiency ra ther than increased supply from engineering works. A pr ime ins t rument to br ing about such an improvement could be an appropriate water pr ic ing s t ru...

Airline revenue management is about identifying the maximum revenue seat allocation policies. Since a major loss in revenue results from cancellations and no-show passengers, over the years overbooking has received a significant attention in the literature. In this study, we propose new models for static and dynamic single-leg overbooking problems. In the static case, we introduce computational...

Operations research systems are employed to optimize the performance of logistics, transport and supply chain management through solutions based on mathematical models. The scope of these models is constrained not only by the analysts’ knowledge of the system, but also by the computational efficiency of the solution. This restriction can lead to a gap between mathematical models used for solvin...

nowadays, the internet has had a rapid expansion and presence in all areas of the individuals, institutions, companies and organizations lives. this has made large extent of data available so that the users need to access their desired information or services through using search engines. to continue and promote providing services, search engines require a source of income. sponsored search adv...

We study the simultaneous optimization of efficiency and revenue in pay-per-click keyword auctions in a Bayesian setting. Our main result is that the efficient keyword auction yields near-optimal revenue even under modest competition. In the process, we build on classical results in auction theory to prove that increasing the number of bidders by the number of slots outweighs the benefit of emp...

This paper analyzes the behavior of single-unit all-pay auctions within the independent private values environment in the laboratory. We study revenue, individual bidding behavior, and efficiency, in relation to theoretical benchmarks and to a similar study of winner-pay first-price sealed-bid auctions. We conclude that the all-pay auction yields significantly higher revenue than both the riskn...