We consider the problem of designing budget feasible mechanisms for a dealer, who aims to maximize revenue by buying items from a seller market and selling them to a buyer market that consists of unit-demand buyers. Different from the related literature, the dealer’s “value” for a set of items that he purchased from the seller market is not directly given as a number but it is defined to be the...

In this paper we study an optimal portfolio selection problem under general transaction cost. We consider a simplified financial market that consists of a risk free asset and a risky asset, but the admissible portfolios are only allowed to have piecewise constant paths, reflecting a more practical perspective. The problem is then reduced to an impulse control problem with subadditive transactio...

Budget feasible mechanism considers algorithmic mechanism design questions where there is a budget constraint on the total payment of the mechanism. An important question in the field is that under which valuation domains there exist budget feasible mechanisms that admit ‘small’ approximations (compared to a socially optimal solution). Singer [20] showed that additive and submodular functions a...

The class of symmetric function interacts extensively with other types functions. One these is the convex functions, which closely related to theory symmetry. In this paper, we obtain some new fractional Hermite–Hadamard inequalities an exponential kernel for subadditive functions and their product, known results are recaptured. Moreover, using a identity as auxiliary result, deduce several per...

We study the one-warehouse multi-retailer (OWMR) problem under deterministic dynamic demand and concave batch order costs, where order batches have an identical capacity and the order cost function for each facility is concave within the batch. Under appropriate assumptions on holding cost structure, we obtain lower bounds via a decomposition that splits the two-echelon problem into single-faci...

This research examined the role of working memory (WM) in probability judgment and hypothesis generation using a simulated task that involved estimating the likelihood that particular menu items would be ordered by customers at a dinner. Five main findings were observed. First, judgments of the likelihood of individual items were made relative to alternatives retrieved from long-term memory. Se...