This paper presents a class of examples where a barter economy develops through agents' optimizing decisions into a monetary economy. A barter economy with m commodities is characterized by m(m-1)/2 commodity pair trading posts for active trade of each good for every other. A monetary economy is characterized by active trade concentrated on m-1 posts, those trading in 'money' versus the m-1 oth...

Using a unique dataset of institutional investors’ equity transactions, we document that institutional trading desks can sustain relative performance over adjacent periods. The best institutional desks exhibit a persistent pattern of negative trading cost, suggesting that skilled traders have the ability to create positive (investment) alpha through their trading strategies. We investigate seve...

In this paper, an agent-based commodity trading simulation platform is presented, with focus on simulation design and validation. We propose a novel combination of event-based approach and event study method for market dynamics generation and validation. In our event-based approach, the simulation is progressed by announcing news events that affect various aspects of the commodity supply chain....

This paper represents a complete survey on Generation Companies’ (GenCos’) optimal bidding strategy problem in restructured power markets. In this regard after an introduction to competitive electricity markets, concept of optimal bidding strategy is presented. Considering large amount of works accomplished in this area a novel classification is implemented in order to categorize the existing d...

Group buying auction(GBA) is seen as an effective form of B2C electronic commerce. GBA could not be directly applied to B2B transactions. This paper establish the evolutional group buying auction (EGBA) for B2B commodity trading based on GBA. First, the EGBA model is presented, and the key algorithms are introduced. Then Complicity Problem in EGBA is discussed . Finally, we validate the EGBA mo...

Redundancy repair of high-density commodity Flash memory is an effective technique to improve per-wafer yield by trading-off increased die size and increased time at wafer-probe for the ATE system to analyze the failing bits and make the necessary repairs. In embedded Flash, where densities are typically much lower and test requirements more diverse, the benefit of redundancy repair is less cer...

can express their preferences only in terms of ordering among a set of things. If a person is given a choice between A and B, he can say: 1. he prefers A to B, or 2. he prefers B to A, or 3. he is indifferent between the two. Given these expressions of individuals , the social choice model derives a market choice that optimizes the satisfaction of preferences of individual traders. Constraint L...