AUTHOR SPOTLIGHT

ALVIN E. ROTH

"Marketplaces are tools that people use to help us coordinate and compete and organize ourselves to mutual benefit. But to do that well, marketplaces have to attract people to participate (i.e. to make a thick market), they have to help participants deal with the congestion that can arise when the market is thick enough to have lots of transactions that can potentially be considered, and they have to make the market safe to participate in. The ‘magic of the market’ doesn’t happen by magic, so there are lots of markets that don’t work well, and that don’t produce the benefits that they could. Proposing new rules for existing marketplaces, or new marketplaces, can sometimes help that along. Of course, market conditions change, and the behavior of participants change, so markets have to be monitored and changed themselves when they stop doing what we want them to do."

READ MORE


AUTHOR SPOTLIGHT

JEAN BERNARD LASSERRE

"One important (if not unique) goal of OR is to help solve practical problems with tools from applied mathematics, probability, statistics, and so forth. However, the focus now seems to be much more on “applications” than on “disciplines.” For instance “LP” [linear programming] and “Integer Programming” were two important flagships of OR, whereas now “Communication and Energy Networks” or the more fuzzy “Machine Learning,” “Deep Learning,” and “Big Data” are in the front of the scene."

READ MORE