91抖淫

Recently, a research team led by Prof. Chen Zhou from the School of Economics and Management, 91抖淫 published their findings online in Management Science, a premier international journal in management, with Chen Zhou being the first author of the paper. The study focuses on the challenge of allocating scarce public resources, exploring how to strike an optimal balance between efficiency and equity.

Inspired by license plate quota policies implemented in large cities to alleviate traffic congestion and air pollution, the research team sought to address key challenges, including how public resources should be allocated to balance efficiency and fairness when demand far exceeds supply, and the number of applicants is large. The research team developed a general analytical framework for two-group mechanisms that integrates participants' bidding behavior, the urgency of demand, and random lottery probabilities into a unified model. Through theoretical derivation and simulation experiments, the team uncovered a counterintuitive finding: when participants' private valuations fulfill several common conditions, the allocation scheme that achieves Pareto optimality takes the form of a fixed “Auction-Then-Lottery” (ATL) hybrid mechanism—a portion of the quotas is allocated to the highest bidders, while the remainder is distributed randomly through a lottery.

This mechanism can not only balance efficiency and equity under ideal assumptions but also demonstrate remarkable robustness. Even under conditions that deviate from the theoretical assumptions, social efficiency remains above 75% of the theoretical optimum. In scenarios of extreme resource scarcity, the ATL mechanism performs nearly as well as the ideal allocation. Through sensitivity analysis and large-scale simulations, the team validated themechanism's applicability across different participant strategies, valuation distributions, and quota ratios, confirming its broad potential for practical implementation.

From urban license plates to access to quality education, from affordable housing to carbon emission quotas, the ATL mechanism offers policymakers a tool that is both theoretically elegant and practically effective—simple, transparent, and easy to implement, while providing mathematically quantifiable efficiency guarantees. It offers new insights for addressing a wide range of scarce resource allocation problems and serves as an important reference for future academic research exploring the balance between efficiency and equity.

Management Science, founded in 1954 and sponsored by the Institute for Operations Research and the Management Sciences (INFORMS), is one of the most influential and prestigious academic journals in the field of management worldwide. It has long focused on theoretical and practical innovations in management and enjoys leading academic impact and international recognition.

Paper’s link: