Search-based advertising is a multi-billion industry which is part of the growing electronic commerce market. In this work, we study the search-based advertising market from the advertiser’s point of view. There are three natural participants in the search-based advertising: the advertisers, promoting their products to consumers based on their search queries, the users, which are searching for ...

Online knapsack problem is considered, where items arrive in a sequential fashion that have two attributes; value and weight. Each arriving item has to be accepted or rejected on its arrival irrevocably. The objective is to maximize the sum of the value of the accepted items such that the sum of their weights is below a budget/capacity. Conventionally a hard budget/capacity constraint is consid...

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 ...

Sequential Contests with Synergy and Budget Constraints We study a sequential Tullock contest with two stages and two identical prizes. The players compete for one prize in each stage and each player may win either one or two prizes. The players have either decreasing or increasing marginal values for the prizes, which are commonly known, and there is a constraint on the total effort that each ...

We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when facing a binding capital constraint of a European (constraint on terminal wealth) or an American (constraint on the wealth process) type. In both cases, the optimal strategy is proven to be of the option-based portfolio in...

We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when he is restricted to fulfill a binding capital constraint of a European (constraint on terminal wealth) or an American (constraint on the wealth process) type. In both cases the optimal strategy is proven to be of the optio...

In solving judgment aggregation problems, groups often face constraints. Many decision problems can be modelled in terms the acceptance or rejection of certain propositions in a language, and constraints as propositions that the decisions should be consistent with. For example, court judgments in breach-of-contract cases should be consistent with the constraint that action and obligation are ne...

This paper analyzes the role of nominal assets in ranking intertemporal budget policies in a growing open economy. Budget policies are ranked in terms of the public’s intertemporal tax liability. In our small open economy model, the constraint for the valuation of private and public Þnancial assets is in terms of the exogenous foreign price level. We show that this limits, under purchasing powe...

We study repeated zero-sum games against an adversary on a budget. Given that an adversary has some constraint on the sequence of actions that he plays, we consider what ought to be the player’s best mixed strategy with knowledge of this budget. We show that, for a general class of normal-form games, the minimax strategy is indeed efficiently computable and relies on a “random playout” techniqu...

We consider a problem commonly faced in the nuclear power industry, involving annual selection of plant capital investments under the constraints of a limited and uncertain budget. When the budget is assumed known, a typical approach to such problems is built on a multi-dimensional knapsack model. This model takes as input the available budget in each year, the stream of liabilities induced by ...