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Marginal utility theory prescribes the relationship between the objective property of the magnitude of rewards and their subjective value. Despite its pervasive influence, however, there is remarkably little direct empirical evidence for such a theory of v ...
Failures of any type are common in current datacenters. As data scales up, its availability becomes more complex, while different availability levels per application or per data item may be required. In this paper, we propose a self- managed key-value stor ...
In a dynamic investment situation, the right timing of portfolio revisions and adjustments is essential to sustain long-term growth. A high rebalancing frequency reduces the portfolio performance in the presence of transaction costs, whereas a low rebalanc ...
We study utility indifference pricing of claim streams with intertem- poral consumption and power (CRRA) utilities. We derive explicit for- mulas for the derivatives of the utility indifference price with respect to claims and wealth. The simple structure of ...
Two-sided matching markets play a prominent role in economic theory. A prime example of such a market is the sponsored search market where n advertisers compete for the assignment of one of k sponsored search results, also known as "slots", for certain key ...
We integrate latent attitudes of individuals into a mode choice model through latent variable and latent class models with the help of psychometric indicators that enable us to measure these attitudes. The aim of the inclusion of attitudes is to better und ...
We study the problem of matching bidders to items where each bidder i has a general, strictly monotonic utility functions u_{i,j}(p_j) expressing her utility of being matched to item j at price p_j . For this setting we prove that a bidder optimal outcome ...
We show that the Hicksian welfare measures of compensating variation and equivalent variation coincide if one of them is evaluated at a compensated income. The measures are nondecreasing in income if the varied attribute and income are complementary, and i ...
Departure time choice modeling has been part of main stream travel behavior research for more than three decades. Congestion management schemes are based on the assumption that travelers optimize their departure time choice. Ever since Vickrey, in the late ...
In this paper we explore the trend of professionalization, with a focus on autonomization, in the Swiss wastewater sector. The aim is to evaluate the performance of water utilities in terms of legitimacy, efficiency and effectiveness in the context of auto ...