In asymmetric information models of financial markets, prices imperfectly reveal the private information held by traders. Informed insiders thus have an incentive not only to trade less aggressively but also to manipulate the market by trading in the wrong direction and undertaking short term losses, so as to ‘confuse’ the market and increase the noise in the trading process. In this paper we s...

Introduction Large-scale irrigation systems are central to the socio-economic development in developing countries. The systems not only support the livelihood of farmers who rely on them to water their crops, but also determine the amount of resources that the agricultural sector can generate to fuel industrial development in urban areas (Small and Svendsen 1992). In the last few decades, due t...

Robert J. Davies-Colley National Institute of Water and Atmospheric Research (NIWA), PO Box 11-115, Hillcrest, Hamilton, New Zealand. ABSTRACT: River water quality is important to uses and values within rivers and also in water bodies downstream. Water quality here encompasses: the physico-chemical attributes important to aquatic life and that vary diurnally (e.g. dissolved oxygen, temperature)...

One prevalent vision of agent-mediated trading on electronic marketplaces is that intelligent, economically driven agents will form a rich, diverse, dynamic economic Web, and that agent-to-agent e-commerce transactions may eventually dominate the global economy in the future. Agents may facilitate a variety of relevant functions such as advertising, matchmaking and brokering. Current applicatio...