Smart contracts are programs that stored on a blockchain ledger with code immutable after deployment. Thus, verifying the correct behavior of smart before deployment is vital. This paper demonstrates how security vulnerability verification in casino contract can be transformed to non-blocking verification. To this end, first modeled as interacting extended finite state machines (EFSM), one EFSM...

Many software applications are based on collaborating, yet competing, agents or virtual organisations exchanging services. Contracts, expressing obligations, permissions and prohibitions of the different actors, can be used to protect the interests of the organisations engaged in such service exchange. However, the potentially dynamic composition of services with different contracts, and the co...

The Spot Market Matters: Evidence on Implicit Contracts from Britain Based on the methodology of Beaudry and DiNardo (1991), this paper investigates the relative importance of the spot market and implicit contracts in the determination of British real wages. Empirical work is carried out separately for males and females with individuallevel data taken from the New Earnings Survey Panel for the ...

We study the relation between specifications of component behaviors and contracts providing means to specify assumptions on environments as well as component guarantees. We show how a contract framework can be built in a generic way on top of any specification theory which supports composition and specification refinement. Our contract framework lifts refinement to the level of contracts and pr...

In Hordaland county in Norway, performance-based contracts between the transport authority and the bus operators were signed in year 2000. This paper will investigate the development of this particular contractual type. Apart from a more limited performance-based contract in Oslo, Hordaland was the first county in Norway to adopt a principle of performance-based contracts. The key characteristi...

law department, ferdowsi university of mashhad the importance of the exploitation contracts protecting the literary and artistic rights has, in some legal systems like france, resulted in the devising of general and common regulations about the formation of the above-mentioned contracts. however, so far no independent section has been thought of in the iranian legal system for explicating commo...

Commodity merchants use real option models to manage their operations. A central element of such a model is its underlying operating policy. We focus on network contracts for the transport capacity of natural gas pipelines, specific energy conversion assets. Practitioners commonly manage these contracts as portfolios of spread options. Although computationally fast, we show that this approach i...

In vein with the new energy market rules drafted in the EU this paper presents and discusses two contract types for hedging the risks connected to long-term transmission rights, the financial transmission right (FTR) and the electricity price area differentials (EPAD) that are used in the Nordic electricity markets. The possibility to replicate the FTR contracts with a combination of EPAD contr...