We elicit traders' predictions of future price trajectories in repeated experimental markets for a 15-period-lived asset. We find that individuals' beliefs aboutprices are adaptive, and primarily based on past trends in the current and previous markets in which they have participated. Most traders do not anticipate market downturns the first time they participate in a market, and, when experien...

Understanding and measuring determinants of bid-ask spreads is decisive to clarifying the efficiency of the microstructure of any exchange and general market liquidity. This paper examines the market microstructure of a low liquidity, market maker driven option market, the relations to the underlying securities’ market and the challenges of pricing liquidity. Comparing empirical results with pr...

After analyzing the uncertainty of technology innovation diffusion (TID), this paper proposes the model of enterprises’ TID based on geometric Brownian motion with jump, and analyzes the optional timing and influence of adopting innovation technology on TID by each parameter. The results show that enterprise should immediately adopts the technology when its market demand is greater than the opt...

Timing Analysis of Logic-Level Digital Circuits Using Uncertainty Intervals. (August 1996) Joshua Asher Bell, B.S., Texas A&M University Chair of Advisory Committee: Dr. Duncan M. Walker Competitive design of modern digital circuits requires high performance at reduced cost and time-to-market. Timing analysis is increasingly used to deal with the more aggressive timing constraints inherent in h...

As distributed systems increase in popularity and experience resource contention, new resource allocation methods are needed for scalability and manageability. In this thesis, I investigate the use of auctions, a type of market-based methods, as a decentralized resource allocation approach. Agents in auctions individually submit bids that provide critical information, including agents‘ private ...

THE PRIMARY CHALLENGE during the modern integrated circuit development process lies in coping with the progressively shorter time-to-market of the chips. Modular design through design re-use in the System-on-Chip (SoC) technology though aids in reducing the design time, the process of testing and verification of such highly complex circuits turns out to be more challenging. The overall objectiv...