• The role played by the state as a land market regulator in urban areas with natural vulnerability to flooding; as a producer of urban land and housing; and as a builder of defenses against flooding. • Impacts on the land market of flooding and built defenses as well as access to urban land for different population sectors; land value increases and decreases in urban areas according to floodin...

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In a Fisher market, a market maker sells m items to n potential buyers. The buyers submit their utility functions and money endowments to the market maker, who, upon receiving submitted information, derives market equilibrium prices and allocations of its items. While agents may benefit by misreporting their private information, we show that the percentage of improvement by a unilateral strateg...

Electronic business and agents are among the most important and exciting areas of research and development in information and communication technology, with considerable potential impact and opportunities for the Maritime sector. This paper proposes the design of a Multi-Agent system for Internet Virtual Chartering Markets (MAVCM). The MAVCM system applies for business-to-business transactions ...

Individuals often form preferences through search, interviews, discussion, and investigation. Endogenizing information acquisition in a stylized object allocation problem, we demonstrate that learning decisions depend on the incentives provided by the chosen allocation rule with important consequences for individual and social welfare. In particular, top trading cycles rules dominate serial pri...

I propose a market based on a single load-following product in which each supplier bids to serve its desired share of the Colombia regulated load. Thus, a supplier that wins a 10% share at auction has an obligation to serve 10% of the actual regulated load in every hour of the commitment period. The supplier is paid the MOR clearing price for every MWh of energy supplied. Deviations between the...

Peer-to-peer (P2P) backup systems are an attractive alternative to server-based systems because the immense costs of large data centers can be saved by using idle resources on millions of private computers instead. This paper presents the design and theoretical analysis of a market for a P2P backup system. While our long-term goal is an open resource exchange market using real money, here we co...