Synchronization Under Uncertainty

Michael Schwarz
University of California, Berkeley


Wednesday, May 17, 2006
4:30 - 5:45 PM
Terman Engineering Center, Room 453


Abstract:

A decision maker needs to schedule several activities that take uncertain time to complete and are only valuable together. Some activities are bound to be finished earlier than others, thus incurring waiting costs. We show how to schedule activities optimally, how to give independent agents performing them incentives that implement the efficient schedule, and how to form teams in the presence of uncertainty. The paper offers insights into important economic decisions such as planning large projects and coordinating product development activities.

The paper is available for download from my web page at http://rwj.berkeley.edu/schwarz/publications/gsp051003.pdf.


Bio:

Michael Schwarz served as an Assistant Professor at Harvard Economics Department after earning a Ph.D. from Stanford Graduate School of Business. He is a member of the National Bureau of Economics Research. Dr. Schwarz specializes in economic theory and industrial organization and applications of theory to business decision making and public policy. He works on a wide range of topics that include auction theory, decision making under uncertainty, economics of adoption of standards, negotiations and microstructure of financial markets.

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