Bidirectional transformation (bx) approaches provide a systematic way of specifying, restoring, and maintaining the consistency of related models. The current diversity of bx approaches is certainly beneficial, but it also poses challenges, especially when it comes to comparing the different approaches and corresponding bx tools that implement them. Although a benchmark for bx (referred to as a...

Technological progress has led to electronic exchanges attracting a major part of transaction volume for standardized stocks. In the field of derivatives and bonds, electronic exchanges failed to prosper and so called over-the-counter (OTC) trading is predominant: possibly because multi-attribute assets are hard to trade in structured two-sided markets. The present paper aims at alleviating thi...

Efficient wholesale markets should drive preference revealing bidding where generators offer the majority of their power at short run marginal cost (SRMC). However, most renewables have very low SRMCs, which in a competitive market is likely to lead to an increasing proportion of low priced periods. This has led to suggestions that a capacity market may be required in the Australian National El...

ABSTRACT The Internet has transformed the nature of business-to-consumer transaction-making practices in many industries. Sellers now attract customers with innovative Internet-based selling mechanisms that can reveal or conceal market information. We define market transparency as the availability and accessibility of information about products and prices. Firms can influence market transparenc...

in view of the importance of the meat imports and the exports of meat in iran, this study focuses on the status of the global market of meat imports the unit price test in these markets between the years 1961 and 2011 using the market cointegration approach. the results of this study are indicative of prices co-integration in the international market of meat as well as among such major importer...

This article examines the structural effects of platform certification on the supply of complementary products. Drawing on the exploratory case of mobile application markets, the article highlights the broader market effects of competing platforms and their certifications on a platform-based complementary product market. The case suggests that platform certifications influence market intermedia...

Prediction markets are an interesting instrument to draw on the “wisdom of the crowds”, e.g., to forecast sales or project risks. So far, mainly two market mechanisms have been implemented in prediction markets, the continuous double auction and logarithmic market scoring rule. However, the effects of the choice between these two market mechanisms on relevant variables such as prediction market...

The future construction of utility-scale solar power plants in Australia will present challenges to integrate these plants into the existing electricity industry. This paper considers the likely solar forecasting requirements to facilitate the integration of photovoltaic and concentrating solar thermal plants into the Australian National Electricity Market (NEM). Many market participants may be...