District heating systems become more distributed with the integration of prosumers, including excess heat producers and active consumers. This calls for suitable market mechanisms that optimally integrate these actors, while minimizing allocating operational costs. We argue inclusion network constraints to ensure feasibility incentivize loss reductions. propose a network-aware as Quadratic Prog...

Most electronic marketplaces are derived from a client/server model, with a central coordinator institution in the middle and a closed group of market participants submitting bids and asks to that institution. In contrast, technical views on electronic commerce often envision ad-hoc cooperation between market participants in open and decentralized IT environments, where software agents negotiat...

This paper investigates the informational requirements of resource allocation processes in public goods economies with any number of firms and commodities. We show that the Lindahl mechanism is informationally efficient in the sense that it uses the smallest message space among smooth resource allocation processes that are informationally decentralized and realize Pareto optimal allocations ove...

We incorporate trade in tasks à la Grossman and Rossi-Hansberg (2008) into a small open economy version of the theory of firm organization of Marin and Verdier (2012) to examine how offshoring affects the way firms organize. We show that the offshoring of production tasks leads firms to reorganize with a more decentralized management, improving the competitiveness of the offshoring firms. We sh...

This article investigates the informational requirements of resource allocation processes in pure exchange economies with consumption externalities. It is shown that the distributive Lindahl mechanism has a minimal informational size of the message space, and thus it is informationally the most efficient allocation process that is informationally decentralized and realizes Pareto-efficient allo...