HOME    »    PROGRAMS/ACTIVITIES    »    Annual Thematic Program
Fall 2000
IMA Hot Topics Workshop
Mathematics of the Internet: E-Auction and Markets
December 3-5, 2000


with partial support by Ford , IBM , and the University of Minnesota Office of Information Technology

Organizers:

John Birge
School of Engineering and Applied Sciences
Northwestern University
jrbirge@nwu.edu

Brenda Dietrich
IBM T.J. Watson Research Center
dietric@watson.ibm.com

Suzhou Huang
Ford Motor Company
shuang10@ford.com

Ennio Stacchetti
Department of Economics
University of Michigan
ennio@umich.edu

Rakesh Vohra
J.L. Kellog Graduate School of Management
Northwestern University
r-vohra@nwu.edu


Not since AD 193, when the Roman empire was auctioned to the highest bidder has there been so much interest in auctions. The internet has done that. Many dot-coms have recently been established to facilitate transactions such as auctions, procurement, and bidding over the internet. Established "old-economy" companies have responded with a variety of marketplaces of their own, some of which involve joint-ventures between long-standing competitors. By having their store front on the internet, these market place can connect any buyer to any seller, offer products and services for sale in unprecedented variety and quantity. Business Week recently estimated that there may be as many as 600 companies that have been set up to connect buyers to sellers. They connect business to business, and business to sellers, providing a new, immense infrastructure for transactions.

While bidding and auction theory is a mature topic in economics, internet auctions and new markets offer the opportunity to put theory into practice as well as push the theory in new directions. For example,auctions where bidders care not only about what they get but what others get as well. Auctions where bidders care about price as well as other features like quality or reliability. Moving away from auctions to markets in general, there is the issue of price setting in markets involving indivisibilties of various kinds. For example, how does one match and execute buy offers that are contingent upon the execution of another different sell offer? Implementing auctions and markets with theoretically desirable properties sometimes raises thorny computational issues. How are these to be resolved?

Much of the existing literature on auctions restricts attention to the case where a single object is for sale. The internet provides new possibilities for using new auction formats and bidding mechanisms where multiple objects are sold simultaneously.

Mathematical topics arising from this area of research includes optimization, game theory, combinatorics, partial differential equations and simulation.

The three-day IMA workshop is intended to bring together leading researchers in economic theory of markets and auctions with applied mathematicians to discuss research in e-auction and markets. It is meant to encourage new collaborations that address these problems of significant intellectual and economic value. The workshop will include a set of overview lectures accessible to applied mathematicians, complemented by more technical talks on specific topics which emphasize the mathematical challenges posed by these problems.

WORKSHOP SCHEDULE

Saturday Sunday Monday Tuesday
SATURDAY, DECEMBER 2
6:30-8:00 pm Wine and Cheese Reception Regent's room, Radisson Metrodome Hotel
SUNDAY, DECEMBER 3
All talks are in Lecture Hall EE/CS 3-180 unless otherwise noted.
9:00 am Coffee and Registration

Reception Room EE/CS 3-176

9:20 am Willard Miller, Fadil Santosa, and Brenda Dietrich Introduction
9:30 am Rakesh V. Vohra
Northwestern University

Combinatorial Auctions: A Survey

Talk   pdf

10:30 am Break Reception Room EE/CS 3-176
11:00 am-12:00 pm Michael H. Rothkopf
Rutgers University
Modeling Opportunities in Auctions
1:30 pm Paul Milgrom
Stanford University
Putting Auction Theory to Work: Ascending Auctions with Package Bidding
2:30 pm Break Reception Room EE/CS 3-176
3:00 pm John Ledyard
California Institute of Technology

Optimal Mechanism Design for Internet Auctions

4:00 pm Break Reception Room EE/CS 3-176
4:30-5:30 pm G. "Anand" Anandalingam
University of Pennsylvania
Pricing of Multiple Services in Telecommunications Networks With Quality of Service Guarantees
MONDAY, DECEMBER 4
All talks are in Lecture Hall EE/CS 3-180 unless otherwise noted.
9:15 am Coffee Reception Room EE/CS 3-176
9:30 am Brenda Dietrich
IBM T.J. Watson Research Center

Examples of Complex Marketplaces: Customers, Models and Solution Methods

10:30 am Break Reception Room EE/CS 3-176
11:00 am-12:00 pm Jeff Kephart
IBM T.J. Watson Research Center
Dynamic Pricing by Software Agents
1:30 pm Suzhou Huang
Ford Motor Company
Pricebot Dynamics
2:30 pm Break Reception Room EE/CS 3-176
3:00 pm Alvin E. Roth
Harvard University
Last Minute Bidding and the Rules for Ending Second Price Auctions: Theory and Evidence from a Natural Experiment on the Internet
4:00 pm Discussion  
5:00-6:30 pm Workshop and Public Lecture Reception 400 Lind Hall
7:00-8:00 pm IMA Public Lecture - Robert Weber
(See poster for details)
2650 Moos Tower, 515 Delaware Street
The Other Side of the (e-Commerce) Fence

Free and Open to the Public

TUESDAY, DECEMBER 5
All talks are in Lecture Hall EE/CS 3-180 unless otherwise noted.
8:45 am Coffee Reception Room EE/CS 3-176
9:00 am Garrett van Ryzin
Columbia University

Airline Revenue Management and e-Markets

Talk   pdf

10:00 am John R. Birge
Northwestern University

Equilibria in Electric Power Exchange Auction Markets

Talk  pdf    powerpoint

11:00 am Break Reception Room EE/CS 3-176
11:30 am -12:30 pm Chris Caplice
Logistics.com
TBA
Saturday Sunday Monday Tuesday

LIST OF CONFIRMED PARTICIPANTS

as of 12/1/2000
Name Department Affiliation
Philipp Afeche MEDS Northwestern University
Beth Allen Economics University of Minnesota
G. Anandalingam Visiting Professor, Decision & Info. Technologies University of Maryland
Kevin Anderson   Northwest Airlines
Damian Bell Operations Research Center Massachusetts Institute of Technology
Sushil Bikhchandani Anderson Graduate Management University of California Los Angeles
John Birge Engineering and Applied Sciences Northwestern University
Shantanu Biswas Computer Science and Automation Indian Institute of Science
Chris Caplice   Logistics.com
James Case   SIAM
John Collins Computer Science University of Minnesota
Janos Csirik Mathematics and Cryptography AT&T Labs - Research
Brenda Dietrich   IBM T.J. Watson Research Center
Fred Dulles   Institute for Mathematics & its Applications
Michael Ekhaus   Gibraltar Analytics
Wedad Elmaghraby Industrial and Systems Engineering Georgia Institute of Technology
Marta Eso e-Commerce Research IBM Research Division
Peter Eso MEDS, Kellogg Graduate Management Northwestern University
Liping Fang Industrial Engineering Ryerson Polytechnic University
Jeremie Gallien   Neoptis, Inc.
Maria Gini Computer Science and Engineering University of Minnesota
Jeremy Goecks Computer Science University of Minnesota
Kemal Guler Decision Technologies Hewlett Packard Laboratories
Christiaan Hogendorn Technology Management and Economics Research Lucent Technologies-Bell Laboratories
Suzhou Huang e-Technology Ford Motor Company
Leonid Hurwicz Economics University of Minnesota
Shailendra Jain   Hewlett-Packard Laboratories
Jayant Kalagnanam   IBM T.J. Watson Research Center
Elena Katok Management Science Pennsylvania State University
Neil Keon Cox Business Southern Methodist University
Jeff Kephart   IBM T.J. Watson Research Center
Pinar Keskinocak Industrial and Systems Engineering Georgia Institute of Technology
David Kohn Computer Science & Engineering University of Minnesota
Erhan Kutanoglu Industrial Engineering University of Arkansas
Han La Poutre Computer Science CWI
Steve Lanning   Aerie Networks
John Ledyard Humanities & Social Sciences California Institute of Technology
Meg Ledyard Economics University of Minnesota
Jenny Li Mathematic & Economics Penn State University
Costis Maglaras Graduate Business Columbia University
Paul Milgrom Economics Stanford University
Willard Miller   Institute for Mathematics & its Applications
Clyde Monma Information & Computer Sciences Telcordia Technologies
Karl Nilsson   University of Minnesota
Andrew Odlyzko   AT&T Labs - Research
David Parkes Computer and Information Science University of Pennsylvania
S. Raghavan The R.H. Smith Business University of Maryland, College Park
Alvin Roth Economics Harvard University
Michael Rothkopf RUTCOR Rutgers University
Irv Salmeen   Ford Motor Company
Kameshwaran Sampath Computer Science & Automation Indian Institute fo Science
Andreas Schulz Sloan Management Massachusetts Institute of Technology
James Schummer Kellogg Graduate Management Northwestern University
Stephen Simpson Mathematics Penn State University
Kerem Tomak Management Science & Information Systems University of Texas at Austin
Garrett van Ryzin Business Columbia University
Arun Verma Cornell Theory Center Cornell University
Rakesh Vohra J.L. Kellogg Graduate Management Northwestern University
Gustavo Vulcano MS/OM Columbia Business School
Lan Wang Science Research Lab Ford Motor Company
Robert Weber Kellogg Graduate Management Northwestern University
Larry Wein Sloan Management Massachusetts Institute of Technology
Michael Wellman Artificial Intelligence Laboratory University of Michigan
Yong Yang e-Technology Ford Motor Company

"Hot Topics" Workshops

2000-2001 Program: Mathematics in Multimedia

Back to top of page

Connect With Us:
Go