Cheap Talk on Freelance Platforms

2021 ◽  
Author(s):  
T. Tony Ke ◽  
Yuting Zhu
Keyword(s):  
Private Information ◽  
Business Strategy ◽  
Bargaining Power ◽  
Cheap Talk ◽  
The Other ◽  
Pricing Strategies ◽  
Information Distortion ◽  
True Type ◽  
Design Perspective ◽  
The Cost

We consider a large decentralized freelance platform where buyers with private information about their quality preferences are matched with freelancers that differ in quality. When posting their job requests, buyers can report their quality preferences via cheap talk, which influences freelancers’ application and pricing strategies. By exaggerating one’s quality preference, a buyer attracts not only more applications from freelancers, but also those with higher quality, at the cost of a higher expected price. We find that it is always an equilibrium for the buyers to report their quality preferences truthfully when they cannot renegotiate with freelancers on their asking prices after getting matched. On the other hand, when postmatch renegotiation is allowed and buyers have relatively high bargaining power, low-type buyers may strategically exaggerate their quality preferences, and subsequently after getting matched, costly signal their true type and bargain for lower prices. From a platform design perspective, our analysis implies that the option of renegotiation, designed to facilitate postmatch information transmission, may backfire by giving rise to buyers’ prematch opportunistic behaviors of information distortion. This paper was accepted by Joshua Gans, business strategy.

ANALISA PERBANDINGAN DALAM RANGKA PEMILIHAN BEBERAPA IP UPSTREAM PROVIDER DI PT. INDOSAT

2018 ◽  
Vol 4 (1) ◽  
pp. 57
Author(s):  
Yuli Anwar ◽  
Dahlar .
Keyword(s):  
Business Strategy ◽  
High Speed ◽  
Human Life ◽  
Sustainable Growth ◽  
The Internet ◽  
Network Service Provider ◽  
High Speed Data ◽  
Telecommunications Services ◽  
The Cost ◽  
Internet Network

Abstract. One of the advances in information technology that now has changed the outlook and human life, business process and business strategy of an institution is the internet. The internet is a very large networks that connected to computers and serves throughout the world in one centralized network. With the internet we can access data and information anytime and anywhere.    As one provider of high-speed data communications services and the pioneer of the internet network service provider in Indonesia that provides integrated services, as well as one of the pioneer development of internet services that provide extensive services in the building and apply it throughout Indonesia. Indosat ready to seize opportunities for sustainable growth of business spectrum are still sprawling Indonesia.    Therefore, Indosat continues to focus on the development of increased efforts to provide the best service for customers of Indosat. Indosat will continue to develop and expand network coverage and a larger investment that the company will achieve excellence in the field of integrated telecommunications services.    Ranking by region of the IP Providers can be seen by grouping IP Providers, and management over IP Providers prefer to choose providers based on where it orginates as an example for the region of the U.S if it will be preferred providers that come from U.S. providers.With the commencement of the internet network optimization start early in 2008 with the selection of the appropriate IP Upstream Provider criteria, it is up to date according to data obtained from Indosat, seen any significant changes to the cost of purchasing capacity of the IP Upstream.    Based on the data obtained that until Q3 or September 2008, the number of IP Upstream Providers that previously there were 20 to 10 IP Upstream Provider, IP Transit Price total decrease of 11% to the price of IP Transit Price / Mbps there is a decrease of 78%, while from the capacity bandwith an increase of 301% capacity from 2008.

Institutional Investors, Private Information, and the Cost of Capital

2011 ◽  
Author(s):  
Huong Giang (Lily) Nguyen ◽  
Xiangkang Yin ◽  
Luong Hoang Luong
Keyword(s):  
Private Information ◽  
Institutional Investors ◽  
Cost Of Capital ◽  
The Cost

Investments and Risk Transfers

2017 ◽  
Vol 92 (6) ◽  
pp. 1-23 ◽  
Author(s):  
Tim Baldenius ◽  
Beatrice Michaeli
Keyword(s):  
Moral Hazard ◽  
Risk Premium ◽  
Bargaining Power ◽  
Risk Premia ◽  
The Other ◽  
Investment Risk ◽  
Incomplete Contracting ◽  
Risk Transfer ◽  
Specific Investments ◽  
Division Managers

ABSTRACT We demonstrate a novel link between relationship-specific investments and risk in a setting where division managers operate under moral hazard and collaborate on joint projects. Specific investments increase efficiency at the margin. This expands the scale of operations and thereby adds to the compensation risk borne by the managers. Accounting for this investment/risk link overturns key findings from prior incomplete contracting studies. We find that if the investing manager has full bargaining power vis-à-vis the other manager, he will underinvest relative to the benchmark of contractible investments; with equal bargaining power, however, he may overinvest. The reason is that the investing manager internalizes only his own share of the investment-induced risk premium (we label this a “risk transfer”), whereas the principal internalizes both managers' incremental risk premia. We show that high pay-performance sensitivity (PPS) reduces the managers' incentives to invest in relationship-specific assets. The optimal PPS, thus, trades off investment and effort incentives.

scholarly journals Black Hole Algorithm for Sustainable Design of Counterfort Retaining Walls

2020 ◽  
Vol 12 (7) ◽  
pp. 2767 ◽  
Author(s):  
Víctor Yepes ◽  
José V. Martí ◽  
José García
Keyword(s):  
Black Hole ◽  
Sustainable Design ◽  
Retaining Walls ◽  
The Other ◽  
Trade Off ◽  
Construction Company ◽  
Geometric Variables ◽  
The Stability ◽  
The Cost ◽  
Black Hole Algorithm

The optimization of the cost and CO 2 emissions in earth-retaining walls is of relevance, since these structures are often used in civil engineering. The optimization of costs is essential for the competitiveness of the construction company, and the optimization of emissions is relevant in the environmental impact of construction. To address the optimization, black hole metaheuristics were used, along with a discretization mechanism based on min–max normalization. The stability of the algorithm was evaluated with respect to the solutions obtained; the steel and concrete values obtained in both optimizations were analyzed. Additionally, the geometric variables of the structure were compared. Finally, the results obtained were compared with another algorithm that solved the problem. The results show that there is a trade-off between the use of steel and concrete. The solutions that minimize CO 2 emissions prefer the use of concrete instead of those that optimize the cost. On the other hand, when comparing the geometric variables, it is seen that most remain similar in both optimizations except for the distance between buttresses. When comparing with another algorithm, the results show a good performance in optimization using the black hole algorithm.

scholarly journals Overconfidence and Timing of Entry

Games ◽  
2020 ◽  
Vol 11 (4) ◽  
pp. 44
Author(s):  
Luis Santos-Pinto ◽  
Tiago Pires
Keyword(s):  
Private Information ◽  
Welfare Effect ◽  
The Other ◽  
Ex Ante ◽  
Rational Player ◽  
Timing Of Entry ◽  
Game Players ◽  
The Impact ◽  
Stackelberg Leader

We analyze the impact of overconfidence on the timing of entry in markets, profits, and welfare using an extension of the quantity commitment game. Players have private information about costs, one player is overconfident, and the other one rational. We find that for slight levels of overconfidence and intermediate cost asymmetries, there is a unique cost-dependent equilibrium where the overconfident player has a higher ex-ante probability of being the Stackelberg leader. Overconfidence lowers the profit of the rational player but can increase that of the overconfident player. Consumer rents increase with overconfidence while producer rents decrease which leads to an ambiguous welfare effect.

scholarly journals Analysis of Operational Efficiencies and Costs for Extracting Thinned Woods in Small-Scale Forestry, Nasunogahara Area, Tochigi Prefecture, Japan

2020 ◽  
Vol 3 (1) ◽  
pp. 61
Author(s):  
Kazuhiro Aruga
Keyword(s):  
Transportation Costs ◽  
The Other ◽  
Small Scale ◽  
Light Truck ◽  
Operation Costs ◽  
Other Hand ◽  
Light Trucks ◽  
The Cost ◽  
Manual Extraction ◽  
Truck Transportation

In this study, two operational methodologies to extract thinned woods were investigated in the Nasunogahara area, Tochigi Prefecture, Japan. Methodology one included manual extraction and light truck transportation. Methodology two included mini-forwarder forwarding and four-ton truck transportation. Furthermore, a newly introduced chipper was investigated. As a result, costs of manual extractions within 10 m and 20 m were JPY942/m3 and JPY1040/m3, respectively. On the other hand, the forwarding cost of the mini-forwarder was JPY499/m3, which was significantly lower than the cost of manual extractions. Transportation costs with light trucks and four-ton trucks were JPY7224/m3 and JPY1298/m3, respectively, with 28 km transportation distances. Chipping operation costs were JPY1036/m3 and JPY1160/m3 with three and two persons, respectively. Finally, the total costs of methodologies one and two from extraction within 20 m to chipping were estimated as JPY9300/m3 and JPY2833/m3, respectively, with 28 km transportation distances and three-person chipping operations (EUR1 = JPY126, as of 12 August 2020).

scholarly journals Competing Conventions with Costly Information Acquisition

Games ◽  
2021 ◽  
Vol 12 (3) ◽  
pp. 53
Author(s):  
Roberto Rozzi
Keyword(s):  
Information Acquisition ◽  
Evolutionary Model ◽  
Equilibrium Selection ◽  
The Other ◽  
Group Interactions ◽  
Social Coordination ◽  
Long Run ◽  
Stochastic Stability Analysis ◽  
The Stability ◽  
The Cost

We consider an evolutionary model of social coordination in a 2 × 2 game where two groups of players prefer to coordinate on different actions. Players can pay a cost to learn their opponent’s group: if they pay it, they can condition their actions concerning the groups. We assess the stability of outcomes in the long run using stochastic stability analysis. We find that three elements matter for the equilibrium selection: the group size, the strength of preferences, and the information’s cost. If the cost is too high, players never learn the group of their opponents in the long run. If one group is stronger in preferences for its favorite action than the other, or its size is sufficiently large compared to the other group, every player plays that group’s favorite action. If both groups are strong enough in preferences, or if none of the groups’ sizes is large enough, players play their favorite actions and miscoordinate in inter-group interactions. Lower levels of the cost favor coordination. Indeed, when the cost is low, in inside-group interactions, players always coordinate on their favorite action, while in inter-group interactions, they coordinate on the favorite action of the group that is stronger in preferences or large enough.

scholarly journals Axiomatic Results for Weighted Allocation Rules under Multiattribute Situations

Mathematics ◽  
2021 ◽  
Vol 9 (6) ◽  
pp. 617
Author(s):  
Yu-Hsien Liao
Keyword(s):  
Bargaining Power ◽  
The Other ◽  
Target Type ◽  
Allocation Rule ◽  
Interactive Environments ◽  
Allocation Rules ◽  
Other Hand

In many interactive environments, operators may have to deal with different work objectives at the same time. In a realistic context, such as differences in the target type to be addressed, or changes in the behavior of other operators, operators may therefore have to cope with by adopting different work levels (strategies) at any given time. On the other hand, the importance or influence brought by operators may vary depending on many subjective and objective factors, such as the size of the constituency represented by a congressman, and the bargaining power of a business personnel which may vary. Therefore, it is reasonable that weights are apportioned to operators and arbitrary usability should be distributed according to these weights under various working levels and multiattribute situations. In pre-existing results for allocation rules, weights might be always apportioned to the “operators” or the “levels” to modify the differences among the operators or its working levels respectively. By applying weights to the operators and its working levels (strategies) simultaneously, we adopt the maximal marginal variations among working level (strategy) vectors to propose an allocation rule under multiattribute situations. Furthermore, we introduce some axiomatic outcomes to display the rationality for this weighted allocation rule. By replacing weights to be maximal marginal variations, a generalized index is also introduced.

Sparse Incremental Delta-Bar-Delta for System Identification

2014 ◽  
Vol 665 ◽  
pp. 643-646
Author(s):  
Ying Liu ◽  
Yan Ye ◽  
Chun Guang Li
Keyword(s):  
System Identification ◽  
Cost Function ◽  
Learning Algorithm ◽  
Learning System ◽  
The Other ◽  
Sparse System ◽  
Speed Up ◽  
Sparse System Identification ◽  
The Cost ◽  
Zero Attractor

Metalearning algorithm learns the base learning algorithm, targeted for improving the performance of the learning system. The incremental delta-bar-delta (IDBD) algorithm is such a metalearning algorithm. On the other hand, sparse algorithms are gaining popularity due to their good performance and wide applications. In this paper, we propose a sparse IDBD algorithm by taking the sparsity of the systems into account. Thenorm penalty is contained in the cost function of the standard IDBD, which is equivalent to adding a zero attractor in the iterations, thus can speed up convergence if the system of interest is indeed sparse. Simulations demonstrate that the proposed algorithm is superior to the competing algorithms in sparse system identification.

Economic analysis of endobronchial ultrasound (EBUS) as a tool in the diagnosis and staging of lung cancer in Singapore

2010 ◽  
Vol 26 (2) ◽  
pp. 170-174 ◽  
Author(s):  
Shin Yuh Ang ◽  
Rachel Woo Yin Tan ◽  
Mariko Siyue Koh ◽  
Jeremy Lim
Keyword(s):  
Lung Cancer ◽  
Lung Biopsy ◽  
Cost Savings ◽  
Needle Aspiration ◽  
The Other ◽  
Transbronchial Lung Biopsy ◽  
Endobronchial Ultrasound ◽  
Economic Evaluations ◽  
Diagnosis Of Lung Cancer ◽  
The Cost

Objectives: Endobronchial ultrasound (EBUS), encompassing endobronchial ultrasound transbronchial needle aspiration (EBUS-TBNA) and Endobronchial ultrasound transbronchial lung biopsy (EBUS-TBLB) has been proven to be a useful modality in the staging and diagnosis of lung cancer. However, there are limited publications on the cost-effectiveness of EBUS and no economic evaluations relevant to the Singapore setting. An economic evaluation using our hospital's data was used to assess the cost implications of EBUS substituting where clinically appropriate: transthoracic needle aspiration; (TTNA), fluoroscopy-guided transbronchial lung biopsy (TBLB), and mediastinoscopy in the diagnosis and staging of lung cancer.Methods: Relationship between the clinical and economic implications of alternative modalities was modeled using data inputs that were relevant to the Singapore setting. Two decision analytic models were constructed to evaluate the cost of EBUS compared with TTNA, TBLB, and staging mediastinoscopy. Only direct costs were imputed.Results: In the base–case analysis, TTNA was the most economical strategy (SGD3,335 = US$2,403) where clinically suitable for the diagnosis of lung cancer as compared to the other options: TBLB (SGD4,499) and EBUS-TBLB (SGD4,857). On the other hand, EBUS-TBNA resulted in expected cost savings of SGD1,214 per positive staging of lung cancer as compared to mediastinoscopy.Conclusions: The use of EBUS-TBNA could result in cost savings of SGD1,214 per positive staging of lung cancer as compared to mediastinoscopy. Whereas TTNA was the most economical intervention for the diagnosis of lung cancer as compared to the other options, its main limitation lies in its suitability only for peripheral lung lesions and high complication rate.

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