We study the price dynamics in a multi-agent economy consisting of buyers and competing sellers, where each seller has limited information about its competitors’ prices. In this economy, buyers use shopbots while the sellers employ automated pricing agents or pricebots. Derivative following (DF) provides a simple, albeit naïve, strategy for dynamic pricing in such a scenario. In this work, we r...

This paper explains the narrowing of gender gaps in wages and market hours in recent decades by the growth of the service economy. We propose a model with three sectors: goods, services and home production. Women have a comparative advantage in the production of services in the market and at home. The growth of the services sector, in turn driven by structural transformation and marketization o...

The modern service economy is substantively different from the agricultural and manufacturing economies that preceded it. In particular, the cost of experimenting is dominated by opportunity cost rather than the cost of obtaining experimental units. The different economics require a new class of experiments, in which stochastic models play an important role. This article briefly summarizes muli...

The emerging transformation from a product oriented economy to a service oriented economy based on Cloud environments envisions new scenarios where actual QoS (Quality of Service) mechanisms need to be redesigned. In such scenarios new models to negotiate and manage Service Level Agreements (SLAs) are necessary. An SLA is a formal contract which defines acceptable service levels to be provided ...

The continuous development of the service economy and an aging society with fewer children is expected to lead to a shortage of workers in the near future. In addition, the growth of the service economy would require service providers to meet various service requirements. In this regard, self-service technology (SST) is a promising alternative to securing labor in both developed and emerging co...

T his paper analyses the relation between GNP sectors of Iran’s economy. The different sectors of the economy directly or indirectly affect each other and can complement or follow each other. Using a number of empirical tests, the paper finds evidence of seasonal or periodic integration in the underlying data. This means that the conventional cointegration tests may not be robust and in re...

China’s economy is currently at a crossroad leading to two different directions. One is to further deepen the reform, concentrate on crucial aspects and relax control over details, govern by non-intervention and let the market play an increasing role and lead the economy; while the other is to enhance the state sector with weakening the private sector, and let the government play a greater role...

Recent trends in technology and network use have pushed the capabilities required of the Internet beyond what the current infrastructure can provide. To address these limitations, the network community has developed a variety of technologies that can be used to support new and enhanced network services. A critical question that remains unanswered is how to get users and service providers to ado...

We provide visualizations of the architecture of the economy that are informed by theory, empirically based, and meaningful at multiple levels of analysis. The systems-based view of industry architecture disaggregates the economy into demand-based vertical sectors in which firms collaborate and compete to collectively satisfy a set of similar demands. Within vertical sectors, inter-industry rel...