This paper investigates asset trade in a general-equilibrium complete-markets endowment economy with heterogeneous agents. It shows that standard no-trade results cease to hold when agents have heterogeneous beliefs and that substantial trade volume is generated, even in the presence of a spanning set of assets. Further, trade volume and price movements have a positive relationship in the model...

In this paper we propose search strategies for heterogeneous multi-agent systems. Multiple agents, equipped with communication gadget, computational capability, and sensors having heterogeneous capabilities, are deployed in the search space to gather information such as presence of targets. Lack of information about the search space is modeled as an uncertainty density distribution. The uncerta...