Grid markets today have very limited capabilities with regards to reservations. However, it is vital that customers are given the ability to purchase resources far in advance of the actual usage which necessitates the existence of a sold reservation model. While this is not an issue of great importance in today’s Grid markets, reservation schemes must be developed to enable a sustainable operat...

We consider a sequential search model with two types of consumers: (‘high cost’s) consumers who incur a positive search cost at each visit and informed consumers who visit all the firms at no cost. The objective is to compare Nash market predictions with a market with adaptive sellers using reinforcement learning. Simulation Results show that Reinforcement Learning never converges to Nash equil...

In most developing countries, including the Lao People's Democratic Republic (PDR), high prevalence of low quality drugs has been reported. The aim of this study was to explore knowledge and perceptions regarding drug quality among drug sellers and consumers, in Savannakhet province, Lao PDR. Quantitative and qualitative methods were used. Fifty-nine drug sellers and 278 exit customers were int...