Many problems in mathematics and science require the use of infinite-dimensional spaces. Consequently, there is need for an analogue of the finite-dimensional notions of ‘Lebesgue almost every’ and ‘Lebesgue measure zero’ in the infinite-dimensional setting. The theory of prevalence addresses this need and provides a powerful framework for describing generic behavior in a probabilistic way. We ...

Electronic order book trading has evolved in being recognized as the best-practice for trading small and mid-sized orders. Yet, this mechanism does not properly address the needs of large-sized orders which tend to execute off order book in over-the-counter markets. Order book trading provides for public price discovery but not for quantity discovery. Off book executions generally fragment the ...

The high barriers to entry in the former elite telecom industry have been torn down, leaving a brutally competitive market, where over-the-top (OTT) providers like Vonage, Skype, Netflix and others, with no desire to own a network, provide offerings that ride on top of CSP networks.

The utilization of VoIP (Voice over IP) in UMTS networks requires the establishment of adequated rules in order to maximize the efficiency of transmission over the air interface. Here we will describe a technique, based on the reduction of voice packet overhead, with the objective of minimizing the power expended during a typical conversation.

Existing microstructure literature cannot explain the empirical evidence that bid-ask spreads can decrease with information asymmetry and ignores either information asymmetry or inventory risks. We develop a market making model that highlights the asset pricing impact of market makers’ capability of making offsetting trades in markets where both information asymmetry and inventory risk are sign...

In this paper, a multicast scheme for UMTS which only requires insignificant modifications in the current UMTS network infrastructure is analyzed. We analytically present the multicast routing mechanism behind our scheme as well as the multicast group management functionality of it. Furthermore, we present an evaluation of our scheme in terms of its performance. The critical parameters for the ...