can often guide decentralized resource allocation effectively even in environments with nonconvexities or where exact computations of optimal allocations are intractably hard The new approaches involving collaboration between economists and computer scientists are not just about approximate o ID: 321730
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Prices
can often guide decentralized resource allocation effectively even in environments with non-convexities or where exact computations of optimal allocations are intractably hard. The new approaches, involving collaboration between economists and computer scientists, are not just about approximate optimization, but also about creating price signals to guide investments in resources for the future.
Tuesday, November 18, 2014
6:00 – 7:30 p.m.
Columbia University, International Affairs Building
To register, visit arrowlecture2014.eventbrite.com
PRICES AND DECENTRALIZATIONWITHOUT CONVEXITY
Paul MilgromShirley R. and Leonard W. Ely, Jr. Professor in Humanities and Sciences, Stanford UniversityDiscussants:Kenneth J. Arrow, Joan Kenney Professor of Economics and Professor of Operations Research, Emeritus, Stanford UniversityJay Sethuraman, Professor of Industrial Engineering and Operations Research, Columbia UniversityJoseph Stiglitz, University Professor, Columbia University