This paper presents a general C platform for the implementation of a trade network game TNG that combines evolutionary game play with preferential partner selec tion In the TNG successive generations of resource constrained traders choose and refuse trade partners on the basis of continually updated expected payo s engage in risky trades modelled as two person games and evolve their trade strat...

This paper analyzes information acquisition in double auction markets and shows that for any finite information cost, if the number of traders and the units a trader is allowed to trade are sufficiently large, then an efficient equilibrium allocation fails to exist. For a large set of parameter values any equilibrium with positive volume of trade has the following properties. Ex ante identicall...

This paper studies a dynamic model of a nancial market with a strategic trader. In each period the strategic trader receives a privately observed endowment in the stock. He trades with competitive market makers to share risk. Noise traders are present in the market. After receiving a stock endowment, the strategic trader is shown to reduce his risk exposure either by selling at a decreasing rat...

In this paper, a deterministic framework for modeling stock market dynamics is presented. The model is based on assets conservation principles and consists of a series of di0erential equations describing the dynamics of assets trading, and a (nonlinear) functional equation describing trade conservation (i.e., what is bought (sold) by one trader is sold (bought) by other traders). In this way, t...

This paper focuses on Indo-Iranian merchandise trade for a period of 30 years from1980-81 to 2009-10. The study is based on econometric modeling comprising 3 versions of the RWM model and alternative forms and specification of regression functions. RWM model(s) evaluates the stationary nature of time series data relating to GNP, Exports, Imports and total merchandise Indo-Iranian trade. Dickey-...

In a seminal paper, McAfee (1992) presented a truthful mechanism for double auctions, attaining asymptotically-optimal gain-from-trade without any prior information on the valuations of the traders. McAfee’s mechanism handles singleparametric agents, allowing each seller to sell a single unit and each buyer to buy a single unit. This paper presents a double-auction mechanism that handles multip...

Experimental double-auction commodity markets are known to exhibit robust convergence competitive equilibria under stable or cyclical supply and demand conditions, but little is about their performance in truly random environments. We provide a comprehensive study of double auctions stochastic setting where the equilibrium prices, trading volumes gains from trade highly variable across periods,...

This paper introduces an economically motivated performance measure for variance forecasts based on variance trading. The performance measure is constructed within a microeconomic framework that mimics the decision-making process of a variance trader who uses volatility forecasts to predict future profitability of a trade. The new performance measure can serve as a useful complement to more tra...

This paper explores the topics of post-biological identity, data bodies and augmentation, particularly through the Data Body Trader project. This research aims to present a speculative, practice based method for understanding post-biological identity, through the establishment of artworks and arts based research endeavours that focus on the relationship between bodies of matter, data bodies and...