As with other commodity markets, markets for trading pollution permits have not been immune to market power concerns. In this paper, I survey the existing literature on market power in permit trading but also contribute with some new results and ideas. I start the survey with Hahn’s (1984) dominant-firm (static) model that I then extend to the case in which there are two or more strategic firms...

Data has appeared to be a new kind of commodity with distinctive characteristics, which make it fundamentally different from physical goods as well as traditional digital goods. Therefore, new trading mechanisms for data need to be designed. In this paper, we model the data market as an auction with negative externalities, and design practical mechanisms for data trading. Specifically, we propo...

As with other commodity markets, markets for trading pollution permits have not been immune to market power concerns. In this paper, I survey the existing literature on market power in permit trading but also contribute with some new results and ideas. I start the survey with Hahn’s (1984) dominant-firm-fringe static model that I then extend to the case in which there are two or more strategic ...

The term risk management can mean different things to different people. In the last few decades, with the rise of financial engineering, the term risk management has become strongly associated with the derivatives trading desks of investment banking houses and hedge funds. In a few commodity industries certain firms have developed profitable trading operations built on the same principles. In n...

Real market institutions, stock and commodity exchanges for example, do not occur in isolation. Company stock is frequently listed on several stock exchanges, allowing traders to potentially trade such stock in different markets. While there has been extensive research into agent-based trading in individual markets, there is little work on agents that trade in such multiple market scenarios. Ou...

Deep neural networks (DNNs) are powerful types of artificial neural networks (ANNs) that use several hidden layers. They have recently gained considerable attention in the speech transcription and image recognition community (Krizhevsky et al., 2012) for their superior predictive properties including robustness to overfitting. However their application to algorithmic trading has not been previo...

India has one of the oldest stock exchanges in Asia. There have been many structural changes its markets. To pace with world, it modified trading at exchanges. Commodity are also doing good India. Present study undertaken objective comparing on two namely Bombay Stock Exchange and Multi commodity Ltd. For purpose study, monthly data for 16 financial years from April 2007 to March 2023 analysed....

This paper presents a class of examples where a nonmonetary economy converges in a tatonnement process to a monetary equilibrium. Exchange takes place in organized markets characterized by an array of trading posts where each pair of goods may be traded for one another. A barter equilibrium with m commodities is characterized by m(m-1)/2 commodity pair trading posts, most of which host active t...

The purpose of this paper is to analyze the real–time trading of electricity. We address a model for an auction–like trading which captures key features of the real–world electricity markets. Our main result establishes that, under certain conditions, the expected total payment to the electricity producers is independent on particular auction type. This result is analogous to the revenue equiva...