Moneyless strategy-proof mechanism on single-sinked policy domain: characterization and applications

We completely characterize deterministic strategy-proof and group strategy-proof mechanisms on single-sinked public policy domain. The single-sinked domain can be used to model any allocation problem where a single output must be chosen in an interval with the assumption that agents’ preferences have a single most loathful point (the sink) in the interval, and the preferences … Read more

A distribution-free risk-reward newsvendor model: Extending Scarf’s min-max order formula

Scarf’s min-max order formula for the distribution-free risk-neutral newsvendor problem is a classical result in the field of inventory management. The min-max order formula provides, in closed-form, the order quantity that maximizes the worst-case expected profit associated with the demand of a single product when only the mean and variance of the product’s demand distribution, … Read more