We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and money does not enter the procurer’s objective function. JEL D21, D44, D45, D82.

Spatial Crowdsourcing (SC) is a novel platform that engages individuals in the act of collecting various types of spatial data. This method of data collection can significantly reduce cost and turnover time, and is particularly useful in urban environmental sensing, where traditional means fail to provide fine-grained field data. In this study, we introduce hyperlocal spatial crowdsourcing, whe...

We design an optimal preventive maintenance policy for a system of N items that minimizes the total expected maintenance cost. We assume that the budget for preventive maintenance is limited and constrained. The problem has a finite time horizon and we consider constant inter-preventive maintenance times for every item. The resulting nonlinear optimization problem is reformulated as a binary in...

We study the multi-armed bandit problems with budget constraint and variable costs (MAB-BV). In this setting, pulling an arm will receive a random reward together with a random cost, and the objective of an algorithm is to pull a sequence of arms in order to maximize the expected total reward with the costs of pulling those arms complying with a budget constraint. This new setting models many I...