Over the last couple of years, interest in prediction markets as a forecasting method has continuously increased in the scientific world and in industry. Markets provide incentives for information revelation and can be used as a mechanism for aggregating information. So far, prediction markets have done well in every known comparison with other forecasting methods. Whereas information aggregati...

Fossil energy markets have always been known as strategic and important markets. They have a significant impact on the macro economy and financial markets of the world. The nature of these markets are accompanied by sudden shocks and volatility in the prices. Therefore, they must be controlled and forecasted by using appropriate tools. This paper adopts the Generalized Auto Regressive Condition...

The modern society depends on the provision and distribution of information. We observe the development of world-wide information markets. Traders play an important role in these markets, as they bring together supply and demand. In this paper, we describe a simulation study about mechanisms and rules in information markets under special consideration of the role of traders. The usefulness of s...

CONTEXT Live-animal markets (wet markets) provide a source of vertebrate and invertebrate animals for customers in tropical and subtropical regions of the world. Wet markets sell live poultry, fish, reptiles, and mammals of every kind. Live-poultry markets (mostly chicken, pigeon, quail, ducks, geese, and a wide range of exotic wild-caught and farm-raised fowl) are usually separated from market...

I study the optimal design of marketable permit systems to regulate various pollutants (e.g., air pollution in urban areas) when the regulator lives in a real world of imperfect information and incomplete enforcement. I show that the regulator should have pollution markets integrated through optimal exchange rates when the marginal-abatement cost curves in the different markets are steeper than...