DMD

Dynamic Mechanism Design: Theory and Applications

 Coordinatore RHEINISCHE FRIEDRICH-WILHELMS-UNIVERSITAT BONN 

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 Nazionalità Coordinatore Germany [DE]
 Totale costo 1˙123˙200 €
 EC contributo 1˙123˙200 €
 Programma FP7-IDEAS-ERC
Specific programme: "Ideas" implementing the Seventh Framework Programme of the European Community for research, technological development and demonstration activities (2007 to 2013)
 Code Call ERC-2009-AdG
 Funding Scheme ERC-AG
 Anno di inizio 2010
 Periodo (anno-mese-giorno) 2010-05-01   -   2016-04-30

 Partecipanti

# participant  country  role  EC contrib. [€] 
1    RHEINISCHE FRIEDRICH-WILHELMS-UNIVERSITAT BONN

 Organization address address: REGINA PACIS WEG 3
city: BONN
postcode: 53113

contact info
Titolo: Ms.
Nome: Daniela
Cognome: Sprinkmeier
Email: send email
Telefono: +49 228 737274
Fax: +49 228 736479

DE (BONN) hostInstitution 1˙123˙200.00
2    RHEINISCHE FRIEDRICH-WILHELMS-UNIVERSITAT BONN

 Organization address address: REGINA PACIS WEG 3
city: BONN
postcode: 53113

contact info
Titolo: Prof.
Nome: Benedict
Cognome: Moldovanu
Email: send email
Telefono: 49-228-739242
Fax: 49-228-737940

DE (BONN) hostInstitution 1˙123˙200.00

Mappa


 Word cloud

Esplora la "nuvola delle parole (Word Cloud) per avere un'idea di massima del progetto.

science    then    theoretical    dynamic    mechanism    allocation    models    strategic    plan    learning    pricing    literature    operations    policies    incomplete   

 Obiettivo del progetto (Objective)

'We plan to construct a theoretical bridge between classical dynamic allocation models used in Operations Research/Management Science, and between the modern theory of mechanism design. Our theoretical results will generate insights for the construction of applied pricing schemes and testable implications about the pattern of observed prices. The Economics literature has focused on information and incentive issues in static models, whereas the Operations Research/Management Science literature has looked at dynamic models that were often lacking strategic/ informational aspects. There is an increased recent interest in combining these bodies of knowledge, spurred by studies of yield management, and of decentralized platforms for interaction/ communication among agents. A general mechanism design analysis starts with the characterization of all dynamically implementable allocation policies. Variational arguments can be used then to characterize optimal policies. The research will focus on models with multidimensional incomplete information, such as: 1) Add incomplete information to the dynamic & stochastic knapsack problem; 2) Allow for strategic purchase time in dynamic pricing models; 3)Allow for competing mechanism designers. The ensuing control problems are often not standard and require special tools. An additional attack line will be devoted to models that combine design with learning about the environment. The information revealed by an agent affects then both the value of the current allocation, and the option value of future allocations. We plan to: 1) Derive the properties of learning processes that allow efficient, dynamic implementation; 2) Characterize second-best mechanism in cases where adaptive learning and efficiency are not compatible with each other.'

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