We describe Cümülön, a system aimed at helping users develop and deploy matrix-based data analysis programs in a public cloud. A key feature of Cümülön is its end-to-end support for the so-called spot instances—machines whose market price fluctuates over time but is usually much lower than the regular fixed price. A user sets a bid price when acquiring spot instances, and loses them as soon as ...

We present a system called Cümülön-D for matrix-based data analysis in a spot market of a public cloud. Prices in such markets fluctuate over time: while users can acquire machines usually at a very low bid price, the cloud can terminate these machines as soon as the market price exceeds their bid price. The distinguishing features of Cümülön-D include its continuous, proactive adaptation to th...

We evaluate an agent-based model featuring nearzero-intelligence traders operating in a call market with a wide range of trading rules governing the determination of prices, which orders are executed as well as a range of parameters regarding market intervention by market makers and the presence of informed traders. We optimize these trading rules using a multi-objective population-based increm...

â â â  â â â â â  the main purpose of present study is to analyze the relationship between stock and exchange markets in two asian countries, iran and south korea. a monthly time series of stock price and exchange rate are used over the period 2002: 05 - 2012: 03. the data is collected from the central bank of each country and wdi. the calculated stock return and real exchange rate change are u...

Information asymmetry in stock market can increase the risk of investment which in turn increases the capital cost of firms. Bhattacharya (1979) proposed a hypothesis that states dividend can act as a powerful signal in order to solve information asymmetry problem. We measured information asymmetry by lack of earnings transparency. Therefore we examine the effect of earnings transparency on cap...

Entrepreneurs need cash to finance their investments. Since cash is costly to hold, entrepreneurs underinvest. If entrepreneurs are able to access secondary financial markets, then they can sell some of their less liquid assets for cash and invest at a higher level. When the secondary financial markets are over-the-counter (OTC), the amount of liquidity (cash) that is in the market affects asse...

Our previous analysis of tick-by-tick interbank Foreign Exchange (FX) rates has suggested that the market is not efficient on short time scales. We find that the price changes show mean-reverting rather than random-walk behavior [4]. The results of rescaled range and Hurst exponent analysis presented in the first part of this paper further confirms the meanreverting attribute in the FX data. In...

This paper introduces the logarithmic autoregressive conditional duration model (Log-ACD model). The logarithmic version allows for more exibility than the ACD model of Engle and Russel (1995), when additional variables are included in the model. We apply the Log-ACD model to bid/ask prices relative to securities listed on the NASDAQ and investigate the way market makers revise their beliefs on...

despite controversy, the contingent valuation method (cvm) is widely used for non-market valuation. among elicitation methods of cvm, the dichotomous choice (dc) has been paid attention. there are two types of dc methods: single-bounded dc (sbdc) and double-bounded dc (dbdc). dbdc is more efficient than sbdc. many of cvm studies in iran used dbdc but data analyses were done by logit model; that...

We study the optimal placement problem of a stock trader who wishes to clear his/her inventory by a predetermined time horizon t, by using a limit order or a market order. For a diffusive market, we characterize the optimal limit order placement policy and analyze its behavior under different market conditions. In particular, we show that, in the presence of a negative drift, there exists a cri...