Unique Ergodicity in the Interconnections of Ensembles with Applications to Two-Sided Markets

04/30/2021
by   Ramen Ghosh, et al.
0

There has been much recent interest in two-sided markets and dynamics thereof. In a rather a general discrete-time feedback model, which we show conditions that assure that for each agent, there exists the limit of a long-run average allocation of a resource to the agent, which is independent of any initial conditions. We call this property the unique ergodicity. Our model encompasses two-sided markets and more complicated interconnections of workers and customers, such as in a supply chain. It allows for non-linearity of the response functions of market participants. It allows for uncertainty in the response of market participants by considering a set of the possible responses to either price or other signals and a measure to sample from these. Finally, it allows for an arbitrary delay between the arrival of incoming data and the clearing of a market.

READ FULL TEXT
POST COMMENT

Comments

There are no comments yet.

Authors

page 1

page 2

page 3

page 4

06/04/2021

Subgroup Fairness in Two-Sided Markets

It is well known that two-sided markets are unfair in a number of ways. ...
10/13/2021

The core of housing markets from an agent's perspective: Is it worth sprucing up your home?

We study housing markets as introduced by Shapley and Scarf (1974). We i...
05/08/2020

Reputation Agent: Prompting Fair Reviews in Gig Markets

Our study presents a new tool, Reputation Agent, to promote fairer revie...
08/22/2020

Constrained Trading Networks

Trades based on bilateral (indivisible) contracts can be represented by ...
02/13/2020

Experimental Design in Two-Sided Platforms: An Analysis of Bias

We develop an analytical framework to study experimental design in two-s...
12/12/2016

An Optimization Framework For Online Ride-sharing Markets

Taxi services and product delivery services are instrumental for our mod...
11/15/2019

Graphical One-Sided Markets

We study the problem of allocating indivisible objects to a set of ratio...
This week in AI

Get the week's most popular data science and artificial intelligence research sent straight to your inbox every Saturday.