Ron Smith is Professor of Economics, Birkbeck College, University of London. He has been Visiting Professor at the London Business School and the University of Colorado and has published seven books and over a hundred papers in the areas of applied econometrics and defense economics. Bernard Udis is Professor of Economics, Emeritus, at the University of Colorado at Boulder. During 1997, he was ...

Abstract Scholars and practitioners continue to debate transatlantic burden sharing, which has implications for broader questions of collective action international organizations. Little research, however, analyzed domestic institutional drivers burden-sharing behavior; even less disaggregated defense spending measure sharing more precisely. This paper enhances understanding the relationship be...

We introduce a novel conditional e-cash protocol allowing future anonymous cashing of bank-issued e-money only upon the satisfaction of an agreed-upon public condition. Payers are able to remunerate payees for services that depend on future, yet to be determined outcomes of events. Once payment complete, any double-spending attempt by the payer will reveal its identity; no double-spending by th...

This study aims to analyze the relationship between defense expenditure and growth of economy in Sri Lanka applying annual data during period 1990-2019 by engaging ARDL bounds test Granger causality test. Economic is considered as a dependent variable whereas; expenditure, broad money supply, capital investment exchange rate are independent variables for this study. The findings revealed that s...

We correct the double spend race analysis given in Nakamoto’s foundational Bitcoin article and give a closed-form formula for the probability of success of a double spend attack using the Regularized Incomplete Beta Function. We give the first proof of the exponential decay on the number of confirmations and find an asymptotic formula. Larger number of confirmations are necessary compared to th...

We study the problem of preventing double spending in electronic payment schemes in a distributed fashion. This problem occurs, for instance, when the spending of electronic coins needs to be controlled by a large collection of nodes (e.g., in a peer-to-peer (P2P) system) instead of one central bank. Contrary to the commonly held belief that this is fundamentally impossible, we propose several ...

Micropayment systems are electronic payment systems that are used for very small payment and for their viability must have small transaction cost. In this paper we propose a coin-based micropayment scheme that uses a probabilistic fraud checking with distributed verification to provide an efficient solution to detect double spending by malicious customers and hence reduces the risk on the merch...

With the development of globalization processes and growth armed conflicts local wars between states, there is a tendency to increase funding for military sector, consequently number new weapons systems equipment their high-tech development. There an in potential, combat capabilities forces, which turn will ensure protection national interests security general. The purpose article analyze impac...