Efficiency versus optimality in procurement

Getting to best: efficiency versus optimality in negotiation

Negotiation between two individuals is a common task that typically involves two goals: maximize individual outcomes and obtain an agreement. However, research on the simplest negotiation tasks demonstrates that although naive subjects can be induced to improve their performance, they are often no more likely to achieve fully optimal solutions. The present study tested the prediction that a dec...

This version: 25 April1997 EFFICIENCY VERSUS SOCIAL OPTIMALITY: THE CASE OF TELECOMMUNICATIONS PRICING

Measuring Tax Efficiency: A Tax Optimality Index

This paper introduces an index of tax optimality that measures the distance of some current tax structure from the optimal tax structure in the presence of public goods. In doing so, we derive a [0, 1] number that reveals immediately how far the current tax configuration is from the optimal one and, thereby, the degree of efficiency of a tax system. We call this number the Tax Optimality Index....

Price of anarchy in transportation networks: efficiency and optimality control.

Uncoordinated individuals in human society pursuing their personally optimal strategies do not always achieve the social optimum, the most beneficial state to the society as a whole. Instead, strategies form Nash equilibria which are often socially suboptimal. Society, therefore, has to pay a price of anarchy for the lack of coordination among its members. Here we assess this price of anarchy b...

Achieving Global Optimality for Energy Efficiency Maximization in Wireless Networks

The characterization of the global maximum of energy efficiency (EE) problems in wireless networks is a challenging problem due to its nonconvex nature in interference channels. The aim of this work is to develop a new and general framework to achieve globally optimal power control solutions. First, the hidden monotonic structure of the most common EE maximization problems is exploited jointly ...