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SMAC

Smart Markets via Computation

Total Cost €

0

EC-Contrib. €

0

Partnership

0

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Project "SMAC" data sheet

The following table provides information about the project.

Coordinator
THE HEBREW UNIVERSITY OF JERUSALEM 

Organization address
address: EDMOND J SAFRA CAMPUS GIVAT RAM
city: JERUSALEM
postcode: 91904
website: www.huji.ac.il

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Israel [IL]
 Project website http://www.cs.huji.ac.il/
 Total cost 91˙254 €
 EC max contribution 91˙254 € (100%)
 Programme 1. H2020-EU.1.3.2. (Nurturing excellence by means of cross-border and cross-sector mobility)
 Code Call H2020-MSCA-IF-2015
 Funding Scheme MSCA-IF-EF-ST
 Starting year 2016
 Duration (year-month-day) from 2016-10-01   to  2017-12-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    THE HEBREW UNIVERSITY OF JERUSALEM IL (JERUSALEM) coordinator 91˙254.00

Map

 Project objective

E-commerce, modern-day government auctions, the sharing economy – these all have in common the optimization of resource allocation through the combination of economics and computation. This trend holds enormous socio-economic opportunity: for example, it allows online auctions, personalized advertising that supports the internet ecosystem, government repacking of radio spectrum to support growing communication needs, and flexible pricing that reflects true demand. It also poses an enormous challenge due to the sophisticated treatment of resources it requires, a challenge which theoretical computer science and algorithmic game theory in particular are uniquely positioned to address.

Economists have known for decades that when resource allocation involves complex constraints or preferences, there will be market failures and failed auctions. At the heart of these failures is the presence of complements, which occur when economically-efficient allocation of one resource depends on that of another; in mathematical language this can be described as lack of convexity. Remarkably, this economic phenomenon is closely linked to hardness of computation, which has been extensively studied in theoretical computer science for the past 50 years.

The goal of this interdisciplinary research program is to apply the theoretical understanding of non-convexity achieved in computer science, coupled with the flexibility provided by computational markets, in order to design smarter economic mechanisms. As increasingly more resource allocation in our society takes place by interaction with computational mechanisms, a unified computational and economic approach is necessary to prevent market failures and enable the full realization of the potential to boost social welfare.

 Publications

year authors and title journal last update
List of publications.
2018 Uriel Feige and Michal Feldman and Inbal Talgam-Cohen
Oblivious Rounding and the Integrality Gap
published pages: , ISSN: , DOI: 10.4230/LIPIcs.APPROX-RANDOM.2016.8
To appear in Theory of Computing - Special Issue for the APPROX/RANDOM 2016 Workshops 2019-06-13

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The information about "SMAC" are provided by the European Opendata Portal: CORDIS opendata.

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