Motivated by applications in Asian option pricing, optimal commodity trading etc., we propose a splitting scheme for fully nonlinear degenerate parabolic PDEs. The splitting scheme generalizes the probabilistic scheme of Fahim, Touzi and Warin [13] to the degenerate case. General convergence as well as rate of convergence are obtained under reasonable conditions. In particular, it can be used f...

Froposition. Ccnsiaer any competitive world trading ewilibrium, with any number of countries and commodities, and with no restrictions whatever on the tariffs and other commodity taxes of individual countries, and with costs of transport fully recognized. Now let any subset of the countries form a customs unton. Then there exists a common tartrvector and a system of lump-sum compensatory paymen...

We study the problem of mechanism design for a double auction market where multiple buyers and sellers buy and sell a commodity. We design and implement a matching algorithm that maximizes market liquidity, including the number of transactions and buy/sell-volume. We prove that, given the number of matches, the algorithm also maximizes auctioneer’s profit. Based on the CAT Tournament (Trading A...

Currently, multiple data vendors utilize the cloud-computing paradigm for trading raw data, associated analytical services, and analytic results as a commodity good. We observe that these vendors often move the functionality of data warehouses to cloud-based platforms. On such platforms, vendors provide services for integrating and analyzing data from public and commercial data sources. We pres...

Although there is little academic research that supports the usefulness of technical analysis, its use remains widespread in commodity markets. Much prior research into technical analysis suffered from data-snooping biases. Using genetic programming, ex ante optimal technical trading strategies are identified. Because they are mechanically generated from simple arithmetic operators, they are fr...

Alloparental brood care, where individuals help raising the offspring of others, is generally believed to be favoured by high degrees of relatedness between helpers and recipients. Here we show that in cooperatively breeding cichlids, unrelated subordinate females provide more alloparental care than related ones when kinship between dominant and subordinate group members is experimentally manip...