In this study, pairs of subjects performed a team-intensive task with the shared goal of clearing a virtual room from threats. The neurobehavioral dynamics of both subjects was analyzed to identify signatures of efficient team work. An ecologically valid task of room clearing was designed and a novel analysis framework was developed to address the challenge of understanding complex, continuous ...

On the Evolution of Market Institutions: The Platform Design Paradox* This paper analyses a situation where market designers create new trading platforms and traders learn to select among them. We ask whether 'Walrasian' platforms, leading to market-clearing trading outcomes, will dominate the market in the long run. If several market designers are competing, we find that traders will learn to ...

Clearinghouses support financial trades by keeping records of transactions and by providing liquidity through short-term credit that is periodically cleared by participants. We study efficient clearing arrangements for formal exchanges, where traders must clear with a clearinghouse, and for over-the-counter (OTC) markets, where trades can be cleared bilaterally. When clearing is costly, we show...

This thesis studies the stochastic clearing systems which are characterized by a nondecreasing stochastic input process {Y (t), t ≥ 0}, where Y (t) is the cumulative quantity entering the system in [0, t], and an output mechanism that intermittently and instantaneously clears the system. Examples of such systems can be found in shipment consolidation, inventory backlog, lot sizing, shuttle bus ...