We propose a simple framework for analyzing feedforward queueing networks that have the following features: each customer belongs to a (customer) flow and the route that a customer follows in the network depends on the flow to which he belongs. The amount of traffic fed by a customer flow into the network is bounded by a deterministic subadditive function, which is called a subadditive envelope...

Along with substantial progress made recently in designing near-optimal mechanisms for multiitem auctions, interesting structural questions have also been raised and studied. In particular, is it true that the seller can always extract more revenue from a market where the buyers value the items higher than another market? In this paper we obtain such a revenue monotonicity result in a general s...

This article presents a new theory of subjective probability according to which different descriptions of the same event can give rise to different judgments. The experimental evidence confirms the major predictions of the theory. First, judged probability increases by unpacking the focal hypothesis and decreases by unpacking the alternative hypothesis. Second, judged probabilities are compleme...

We develop a theory for pricing non-diversifiable mortality risk in an incomplete market. We do this by assuming that the company issuing a mortality-contingent claim requires compensation for this risk in the form of a pre-specified instantaneous Sharpe ratio. We prove that our ensuing valuation formula satisfies a number of desirable properties. For example, we show that it is subadditive in ...

When 1 < p < ∞ and p 6= 2 the p-harmonic measure on the boundary of the half plane R+ is not subadditive. In fact, there are finitely many sets E1, E2,...,Eκ on R, of p-harmonic measure zero, such that E1 ∪ E2 ∪ ... ∪ Eκ = R.

The notion of a signed measure arises if a measure is allowed to take on both positive and negative values. A set that is both positive and negative with respect to a signed measure is termed as a null set. Some concepts in measure theory can be generalized by means of classes of null sets. An abstract formulation and proof of the Lebesgue decomposition theorem using the concept of null sets is...

The Max-Min allocation problem is to distribute indivisible goods to people so as to maximize the minimum utility of the people. We show a (2k − 1)-approximation algorithm for Max-Min when there are k people with subadditive utility functions. We also give a k/α-approximation algorithm (for α ≤ k/2) if the utility functions are additive and the utility of an item for a person is restricted to 0...

In digital goods auctions, there is an auctioneer who sells an item with unlimited supply to a set of potential buyers, and the objective is to design truthful auction to maximize the total profit of the auctioneer. Motivated from an observation that the values of buyers for the item could be interconnected through social networks, we study digital goods auctions with positive externalities amo...

We characterize the value function of a discounted, infinite-horizon version of the single-item lot-sizing problem. As corollaries, we show that this value function inherits several properties of finite, mixedinteger program value functions; namely, it is subadditive, lower semicontinuous and piecewise linear.