This study quantifies the efficiency of a real-world bargaining game with two-sided incomplete information. Myerson and Satterthwaite (1983) and Williams (1987) derived the theoretical efficient frontier for bilateral trade under two-sided uncertainty, but little is known about how well real-world bargaining performs relative to the frontier. The setting is wholesale used-auto auctions, an $80 ...

In the classic cake-cutting problem (Steinhaus, 1948), a heterogeneous resource has to be divided among n agents with different valuations in a proportional way — giving each agent a piece with a value of at least 1/n of the total. In many applications, such as dividing a land-estate or a time-interval, it is also important that the pieces are connected. We propose two additional requirements: ...

Theories and tools to measure the efficiency of neural codes have been important in understanding neural responses to external stimuli. However, similar principles to describe the efficiency of brain responses to tasks demanding higher-order cognitive processes remain underdeveloped. A key domain to study such efficiency is learning, where patterns of activity across the entire brain provide in...

This paper uses world running records by age to estimate a biological frontier of decline rates. Two models are compared: a linear/quadratic (LQ) model and a non-parametric model. Two estimation methods are used: 1) minimizing the squared difference between the observed records and the modeled biological frontier and 2) using extreme value theory to estimate the biological frontier that maximiz...

In current online games, player positions are synchronized by means of continual broadcasts through the server. This solution is expensive, forcing any server to limit its number of clients. With a hybrid networking architecture, player synchronization can be distributed to the clients, bypassing the server bottleneck and decreasing latency as a result. Synchronization in a decentralized fashio...

The cost of milk production by farm size was decomposed into frontier and efficiency components with a stochastic cost curve using data on 755 USA dairy farms from the year 2000. The estimated frontier function is much flatter than the composite cost curve, and although the frontier cost of production decreases with farm size, that cost reduction is not as pronounced as a cost curve that includ...

When choosing between mutually exclusive treatment options, it is common to construct a cost-effectiveness frontier on the cost-effectiveness plane that represents efficient points from among the treatment choices. Treatment options internal to the frontier are considered inefficient and are excluded either by strict dominance or by appealing to the principle of extended dominance. However, whe...

Super-efficiency model in the presence of negative data is a relatively neglected issue in the DEA field. The existing super-efficiency models have some shortcomings in practice. In this paper, a novel VRS radial super-efficiency DEA model based on Directional Distance Function (DDF) is proposed to provide a complete ranking order of units (including efficient and inefficient ones). The propose...

This paper examines relative performance of electricity distribution systems in the UK and Japan between 1985 and 1998 using costbased benchmarking with data envelopment analysis (DEA) and stochastic frontier analysis (SFA) methods. The results suggest that the productivity gain in the UK electricity distribution has been larger than in the Japanese sector. In particular, productivity growth ac...

Abstract In this study, we introduce Efficiency Frontier, an economic assessment framework for business operations. The proposed emphasizes efficiency and sustainability. It aims to help organizations translate a complex metric system into value index, conduct performance evaluation, determine efficient resource planning strategies. Unlike the traditional methods that majorly focus on achieveme...