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Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What's needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied.In Discovering Prices, Paul Milgrom-the world's most frequently cited academic expert on auction design-describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world's growing complex resource allocation problems.

Auction theory. --- Auctions --- Prices --- Mathematical models.

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This book presents two experimental studies that deal with the comparison of multi-item auction designs for two specific applications: the sale of 2.6 GHz radio spectrum rights in Europe, and the sale of emissions permits in Australia. In order to tackle the complexity of these experiments, a cognitively based toolkit is proposed, including modularized video instructions, comprehension tests, a learning platform, a graphical one-screen user interface, and comprehension-based group matching.

emissions permits --- spectrum rights --- methodology of experimental economics --- multi-item auction experiments --- video instructions

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Microeconomics --- Quantitative methods (economics) --- Recreation. Games. Sports. Corp. expression --- spellen --- micro-economie --- econometrie --- Auction theory. --- Auctions.

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This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in economics. The first chapter provides an introduction to experimental economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making. The work aims both to help specialists set an agenda for future research and to provide nonspecialists with a critical review of work completed to date. Its focus is on elucidating the role of experimental studies as a progressive research tool so that wherever possible, emphasis is on series of experiments that build on one another. The contributors to the volume--Colin Camerer, Charles A. Holt, John H. Kagel, John O. Ledyard, Jack Ochs, Alvin E. Roth, and Shyam Sunder--adopt a particular methodological point of view: the way to learn how to design and conduct experiments is to consider how good experiments grow organically out of the issues and hypotheses they are designed to investigate.

Microeconomics --- Methodology of economics --- Operational research. Game theory --- -economie --- 338.313 --- 330.52 --- economische leerstelsels --- 330.0724 --- Kapitalisme. --- Liberaal systeem. Neo-liberalisme. Theorie van de onderhandeling. --- -330.0724 --- Experimental economics --- economie --- theories economiques --- 305.6 --- 330.3 --- AA / International- internationaal --- NBB congres --- 330.1 --- 330.1 Economische grondbegrippen. Algemene begrippen in de economie --- Economische grondbegrippen. Algemene begrippen in de economie --- Economics --- economische theorieen --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen --- Methode in staathuishoudkunde. Statische, dynamische economie. Modellen. Experimental economics --- Liberaal systeem. Neo-liberalisme. Theorie van de onderhandeling --- Kapitalisme --- Methodology --- Economie politique --- Méthodologie --- Experimental economics. --- Wirtschaftswissenschaften. --- Wirtschaftsforschung. --- Methode. --- Experimentelle Wirtschaftsforschung. --- Experiment. --- Economics - Methodology --- Battle of the Sexes game. --- Dutch auction. --- Ellsberg paradox. --- Lindahl equilibrium. --- Lindahl mechanism. --- Nash bargaining theory. --- Prisoner's Dilemma. --- Vickery auction. --- adaptive models. --- auction theory studies. --- blind-bid auction. --- call market. --- description invariance. --- efficient outcomes. --- fanning in hypothesis. --- focal points. --- futures market. --- illusion of control. --- impunity games. --- infinite horizon game. --- mechanism design. --- options market. --- posted-bid auctions. --- price list auction. --- scoring rules. --- simulation, computer. --- trigger strategies. --- Experimentelles Arbeiten --- Laborexperiment --- Test --- Freihandversuch --- Versuch --- Laborversuch --- Experimente --- Experimentelle Ökonomik --- Experimentelle Ökonomie --- Empirische Wirtschaftsforschung --- Methodik --- Verfahren --- Technik --- Methoden --- Methodologie --- Wirtschaftswissenschaften --- Ökonomie --- Wirtschaftswissenschaft --- Forschung --- SCIENCE ECONOMIQUE --- METHODOLOGIE

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Electrification plays a key role in decarbonizing energy consumption for various sectors, including transportation, heating, and cooling. There are several essential infrastructures for a smart city, including smart grids and transportation networks. These infrastructures are the complementary solutions to successfully developing novel services, with enhanced energy efficiency and energy security. Five papers are published in this Special Issue that cover various key areas expanding the state-of-the-art in smart cities’ electrification, including transportation, healthcare, and advanced closed-circuit televisions for smart city surveillance.

blockchain --- double auction --- electricity trading --- smart match mechanism --- multi-exposure image fusion --- intelligent transportation system --- adaptive optimization --- video super-resolution --- generative adversarial networks --- edge enhancement --- energy usage behaviour --- occupancy monitoring --- energy conservation --- out-of-hours consumption --- energy consumption monitoring --- electric vehicles --- detour --- route computation --- smart cities --- n/a