We study a differentiated product market in which an investor initially owns a controlling stake in one of two competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets, or indirectly via the controlled firm. While industry profits are maximized within a symmetric two product monopoly, the investor attains this only in excepti...

One of the most important factors to be considered when developing an application for a Wireless Sensor Network (WSN) is its power consumption. Intelligent Power Management (IPM) for a WSN is crucial in maximising the operational longevity. An established regime for achieving this is through the opportunistic hibernation of redundant nodes. Redundancy, however, has various definitions within th...

Although the transactions on the Bitcoin blockchain have the main purpose of recording currency transfers, they can also carry a few bytes of metadata. A sequence of transaction metadata forms a subchain of the Bitcoin blockchain, and it can be used to store a tamper-proof execution trace of a smart contract. Except for the trivial case of contracts which admit any trace, in general there may e...

Cryptocurrencies like Bitcoin have proven to be a phenomenal success. Bitcoin-like systems use proofof-work mechanism which is therefore considered as 1-hop blockchain, and their security holds if the majority of the computing power is under the control of honest players. However, this assumption has been seriously challenged recently and Bitcoin-like systems will fail when this assumption is b...

One important role of corporate governance is to ensure that real options are exercised in the interest of the shareholders. This paper explores whether and how this can be achieved in start-up firms by the venture capitalist retaining a post-IPO equity stake. Our setting is a firm whose future prospects are uncertain and strategic choices remain to be made. The payoff to entrepreneur and share...

The purpose of this study was to detect differentially functioning items in the University of Tehran English Proficiency Test (UTEPT) which is a high stake test of English developed and administered by the Language Testing Centre of the University of Tehran. This paper is based on the answers of 400 test takers to the test. All participants earned a master degree either in humanities or science...

We design and implement TwinsCoin, the €rst cryptocurrency based on a provably secure and scalable public blockchain design using both proof-of-work and proof-of-stake mechanisms. Di‚erent from the proof-ofwork based Bitcoin, our construction uses two types of resources, computing power and coins (i.e., stake). Œe blockchain in our system is more robust than that in a pure proof-of-work based s...

Context: In requirements engineering, there will be many different stake holders. Often the requirements engineer has to find a set of requirements that reflect the needs of several different stake holders, while remaining within budget. Objective: This paper introduces an optimisation-based approach to the automated analysis of requirements assignments when multiple stake holders are to be sat...