in the restructured environment of electricity market, firstly the generating companies and the customers are looking for maximizing their profit and secondly independent system operator is looking for the stability of the power network and maximizing social welfare. in this paper, a one way auction in the electricity market for the generator companies is considered in both perfect and imperfec...

In this paper, we determine the optimal exercise strategy for corporate warrants if investors suffer from imperfect information and we evaluate the impact of this friction on the value of a warrant. For this purpose, we address both exercises at maturity, where imperfect information about the firm value is present, and exercises before maturity which are impacted by imperfect information about ...

The purpose of implementation-based testing is to gain a measure of confidence in the correctness of the software by providing adequate coverage of the code. One unit of testing in object-oriented software is a class. However, classes use other classes and if class interactions form a cycle of dependencies then, to test a client class that uses an untested supplier class, stubs must be construc...

this paper presents a theoretical view of imperfect market. it concludes that an increase in the price of products does not give any incentive to increasing production which shows the mechanism for upward trends in prices.

One approach to characterizing interfacial stiffness is to introduce imperfect interfaces that allow displacement discontinuities whose magnitudes depend on interfacial traction and on properties of the interface or interphase region. This work implemented such imperfect interfaces into both finite element analysis and the material point method. The finite element approach defined imperfect int...

This paper combines a comprehensive sample of intraday firm-level news arrivals with high-frequency price movements of individual stocks, thereby decomposing daily stock returns into news-driven and non-news driven components. Consistent with prior literature, we find that non-news driven return precedes a reversal. For news-driven return, however, we find strong evidence of return continuation...

In this study, an analytical formula for multipleinput single-output single frequency network gain (MISOSFNG) is investigated. To formulate the net MISO-SFNG, we derived the average signal to interference plus noise ratio (SINR) where the gain achieved by the distributed MISO diversity as a function of power imbalance is curve-fitted. Further, we analyzed the losses owing to self-interferences ...

Using array analysis, the direction and distance to a seismic P wave source can be determined. However, individual arrays are limited in their geographical coverage and by their resolving capability, which is determined by the array aperture, configuration, and number of stations. We demonstrate these limitations on three large seismic arrays located in Japan, Europe, and California, and find t...

This paper looks at markets characterized by the fact that the demand side is insured. In these markets a consumer purchases a good to compensate consequences of unfavorable events, such as an accident or an illness. Insurance policies in most lines of insurance base indemnity on the insured’s actual expenses, i.e., the insured would be partially or completely reimbursed when purchasing certain...

The article conceptualizes the pharmaceutical pricing and reimbursement policies related to financial coverage in the context of health systems. It introduces the pharmaceutical market as an imperfect one, in which appropriate regulation is required. Moreover, the basis that guide the pricing and reimbursement processes are defined and described in order to generate a categorization based on wh...