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Business to business interactions are largely centered around contracts for procurement or for distribution. Negotiations and sealed bid tendering are the most common techniques used for price discovery and generating the terms and conditions for contracts. Sealed bid tenders collect bids (that...
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Reinforcement Learning has lead to considerable break-throughs in diverse areas such as robotics, games and many others. But the application to RL in complex real-world decision making problems remains limited. Many problems in Operations Management (inventory and revenue management, for...
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We describe an auction mechanism in the class of Groves mechanisms that has received attention in the computer science literature because of its theoretical property of being more "learnable" than the standard second price auction mechanism. We bring this mechanism, which we refer to as the...
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AI and reinforcement learning (RL) have improved many areas, but are not yet widely adopted in economic policy design, mechanism design, or economics at large.At the same time, current economic methodology is limited by a lack of counterfactual data, simplistic behavioral models, and limited...
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