In traditional over-the-counter (OTC) markets, investors trade bilaterally through intermediaries referred to as dealers. An important regulatory question is whether centralize OTC markets by shifting trades onto centralized platforms. We address this in the context of liquid Canadian government bond market. document that even market, dealers charge markups, and show there a price gap between l...

We consider commutation between multi-variable functions defined over a fixed non-empty set A. A centralizing monoid M is a set of unary functions which commute with all members of some given set F of functions, where F is called a witness of M . In this paper, we focus on the case where A is a three-element set and determine all centralizing monoids which have ternary majority functions as the...

In the dynamic game we analyze, players are the members of a fixed network. Everyone is initially endowed with an information item that he is the only player to hold. Players are offered a finite number of periods to centralize the initially dispersed items in the hands of any one member of the network. In every period, each agent strategically chooses whether or not to transmit the items he ho...

The purpose of this paper is to investigate identities with derivations and automorphisms on semiprime rings. A classical result of Posner states that the existence of a nonzero centralizing derivation on a prime ring forces the ring to be commutative. Mayne proved that in case there exists a nontrivial centralizing automorphism on a prime ring, then the ring is commutative. In this paper, some...

We study topological properties of the correspondence of prime spectra associated to a noncommutative ring homomorphism R → S. Our main result provides criteria for the adjointness of certain functors between the categories of Zariski closed subsets of SpecR and SpecS; these functors arise naturally from restriction and extension of scalars. When R and S are left noetherian, adjointness occurs ...

Endobronchial brachytherapy (EBB) is an effective treatment for endobronchial tumors. However, bronchial toxicity caused by over-irradiation remains problematic. To decrease bronchial toxicity, we developed a source-centralizing applicator for EBB. The purpose of the present study was to assess the efficacy and safety of EBB with varying reference dose points according to the bronchial diameter...