In this paper, we are examining the relationship between stock trading costs and commitment components and find both abnormal and normal commitments associated with these costs are associated. Moreover, stock trading costs have a greater influence by both abnormal and normal negative commitments more than positive commitments. Further analysis has shown that in general, investors are unable to ...

The extent to which the observed procedures for selling new issues are efficient is studied. We show that a posted-price mechanism, in conjunction with nonbinding preplay communication and participation restrictions, leads to an allocation of the security (and payment) that maximizes the seller's expected revenue, given the informational constraints imposed by the optimizing incentives of the p...

Fixed charge solid transportation problems are formulated as profit maximization problems under a budget constraint at each destination. Here item is purchased in different depots at different prices. Accordingly the item is transported to different destinations from different depots using different vehicles. Unitsare sold from different destinations to the customers at different selling prices...

We study the effect of allowing short selling on the efficiency of the pricing mechanism and the incidence of price bubbles in laboratory asset markets. We report an experiment that illustrates that allowing a sufficiently large short selling capacity results in a substantial reduction in the magnitude and duration of bubbles, but also leads to sustained episodes of busts, during which prices a...

Unit quaternion is an ideal parameterization for joint rotations. However, due to the complexity of the geometry of S group, it’s hard to specify meaningful joint constraints with unit quaternion. In this paper, we have proposed an effective and accurate method to specify the rotation limits for joints parameterized with the unit quaternion. Joint constrains constructed with our method are adeq...

We design approximate weakly group strategy-proof mechanisms for resource reallocation problems using Milgrom and Segal’s deferred acceptance auction framework: the radio spectrum and network bandwidth reallocation problems in the procurement auction setting and the cost minimization problem with set cover constraints in the selling auction setting. Our deferred acceptance auctions are derived ...

With constrained portfolios contingent claims do not generally have a unique price that rules out arbitrage opportunities. Earlier studies have demonstrated that when there are constraints on the hedge portfolio, a no-arbitrage price interval for any contingent claim exists. I consider the more realistic case where the constraints are imposed on the total portfolio of each investor and define r...