The Expectation-Maximization (EM) algorithm is a very popular optimization tool for mixture problems and in particular for model-based clustering problems. However, while the algorithm is convenient to implement and numerically very stable, it only produces local solutions. Thus, it may not...

There has been substantial work exploring strategies, both theoretical and empirical, for selling and buying in online auctions. However, much of this work has considered single auctions in isolation, partially because it is hard to examine multiple simultaneous auctions using traditional math...

Initial applications of prediction markets (PMs) indicate they provide good forecasting instruments in many settings, such as elections, the box office, or product sales. One particular characteristic of these “first-generation” (G1) PMs is that they link the payoff value of a stock's share...

Political campaigning has become a multi-million dollar business. A substantial proportion of a campaign's budget is spent on voter targeting, i.e. to identify and influence as many voters as possible to vote. Based on data, campaigns use statistical tools to provide a basis for decision on whom...