Throughout much of its existence, Nevada’s gambling industry has been dominated by table games. Historically, slot machines were of secondary importance because they did not generate much revenue and were costly to maintain and operate. Starting in the late 1970s, a series of technological milestones improved the form and function of slot machines, and fueled replacement cycles on casino floors...

We address the fundamental issue of revenue and efficiency in the combinatorial and simultaneous auction using a novel approach. Specifically, upper and lower bounds are constructed for the first-price sealed-bid setting of these two auctions. The question of revenue is important yet very few results can be found in the literature. Only for very small instances with 2 items have comparisons bee...

Performance of revenue indicates relative change in yield from tax as well as non-tax revenue of national or subnational governments. It takes into account the changes in rates, base, and coverage related to the structure of revenue sources. It also incorporates the issues related to efficiency in governance of tax and non-tax sources. Various concepts and techniques are used for the measuremen...

Water rates are designed to meet multiple objectives, typically resulting in tradeoffs among the objectives of economic efficiency, revenue sufficiency, and related revenue stability. Standard theory of natural monopoly is extended here to explain why long-run marginal cost (LMC) can be greater than both average cost and short-run marginal cost (SMC) for municipal water utilities. The distincti...

Data Envelopment Analysis (DEA) is widely used in banking sector to measure the efficiency of the banks. This paper evaluates the performance of the banks in India using cost, revenue and profit models of DEA and comes out with a comprehensive efficiency index for banks, by combing the efficiency scores of various DEA models, using the Shannon entropy. In general, the banks included in this stu...

When agents with independent priors bid for a single item, Myerson’s optimal auction maximizes expected revenue, whereas Vickrey’s second-price auction optimizes social welfare. We address the natural question of trade-offs, auctions that optimize revenue without losing too much welfare, say. If one allows for randomized mechanisms, it is easy to see that there are polynomial-time mechanisms th...

Collusion between suppliers in reverse auctions may damage buyers’ benifits and then lower efficiency of resource allocation. Under first-price sealed-bid reverse auction mechanism, suppliers' equilibrium bidding strategy and buyers' revenue loss was analyzed considering collusion. Then some general conclusions were given: suppliers' bidding strategy is relevant to some factors such as valuatio...