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Analyzing simple and natural price-adjustment processes that converge to a market equilibrium is a fundamental question in economics. Such an analysis may have implications in economic theory, computational economics, and distributed systems. T\^atonnement, proposed by Walras in 1874, is a process by which prices go up in response to excess demand, and down in response to excess supply. This paper analyzes the convergence of a time-discrete t\^atonnement process, a problem that recently attracted considerable attention of computer scientists. We prove that the simple t\^atonnement process that we consider converges (efficiently) to equilibrium prices and allocation in markets with nested CES-Leontief utilities, generalizing some of the previous convergence proofs for more restricted types of utility functions.

We give an $O(\log\log k)$-competitive randomized online algorithm for reordering buffer management, where $k$ is the buffer size. Our bound matches the lower bound of Adamaszek et al. (STOC 2011). Our algorithm has two stages which are executed online in parallel. The first stage computes deterministically a feasible fractional solution to an LP relaxation for reordering buffer management. The second stage "rounds" using randomness the fractional solution. The first stage is based on the online primal-dual schema, combined with a dual fitting argument. As multiplicative weights steps and dual fitting steps are interleaved and in some sense conflicting, combining them is challenging. We also note that we apply the primal-dual schema to a relaxation with mixed packing and covering constraints. We pay the $O(\log\log k)$ competitive factor for the gap between the computed LP solution and the optimal LP solution. The second stage gives an online algorithm that converts the LP solution to an integral solution, while increasing the cost by an O(1) factor. This stage generalizes recent results that gave a similar approximation factor for rounding the LP solution, albeit using an offline rounding algorithm.

In recent years, there has been an increased need for the use of active systems - systems required to act automatically based on events, or changes in the environment. Such systems span many areas, from active databases to applications that drive the core business processes of today's enterprises. However, in many cases, the events to which the system must respond are not generated by monitoring tools, but must be inferred from other events based on complex temporal predicates. In addition, in many applications, such inference is inherently uncertain. In this paper, we introduce a formal framework for knowledge representation and reasoning enabling such event inference. Based on probability theory, we define the representation of the associated uncertainty. In addition, we formally define the probability space, and show how the relevant probabilities can be calculated by dynamically constructing a Bayesian network. To the best of our knowledge, this is the first work that enables taking such uncertainty into account in the context of active systems. herefore, our contribution is twofold: We formally define the representation and semantics of event composition for probabilistic settings, and show how to apply these extensions to the quantification of the occurrence probability of events. These results enable any active system to handle such uncertainty., Comment: Appears in Proceedings of the Twenty-First Conference on Uncertainty in Artificial Intelligence (UAI2005)