In this paper we study the dynamics of a simple asset pricing model describing the trading activity of heterogeneous agents in a ”stylized” market. The economy in the model contains two assets: a bond with risk-less return and a dividend paying stock. The price of the stock is determined through market clearing condition. Traders are speculators described as expected utility maximizers with het...

A recent strategy carried out by the aircraft industry to reduce the total cost of the new generation fighters has consisted in the development of a single airframe with different technical and operational specifications. This strategy has been designed to reduce costs in the Research, Design and Development phase with the ultimate objective of reducing the final unit price per aircraft. This i...

In estimating the cost-effectiveness of diagnostic procedures, it is helpful to treat diagnostic information as a commodity with a unit price. The amount of useful information provided by a test result can be measured in binary units (bits), and the unit price of the information produced by the test result can be expressed in dollars per bit in much the same way that the price of gold is given ...

Ongoing regulatory reforms have led to several novel spectrum sharing models under the general umbrella of dynamic spectrum sharing. The private commons model introduced by FCC in 2004 allows spectrum licensees to provide secondary access to spectrum on an opportunistic basis while retaining ownership. Since wireless communication systems are typically overprovisioned in order to deliver servic...

BACKGROUND Brazil became the first developing country to guarantee free and universal access to HIV/AIDS treatment, with antiretroviral drugs (ARVs) being delivered to nearly 190,000 patients. The analysis of ARV price evolution and market dynamics in Brazil can help anticipate issues soon to afflict other developing countries, as the 2010 revision of the World Health Organization guidelines sh...

In resource-limited environment, grid users compete for limited resources, and how to guarantee tasks’ victorious probabilities is one of the most primary issues that a resource scheduling model cares. In order to guarantee higher task’s victorious probabilities in grid resources scheduling situations, a novel model, namely ESPSA (Extended Second Price Sealed Auction), is proposed. The ESPSA mo...

A seminal theorem of Myerson and Satterthwaite (1983) proves that, in a game of bilateral trade between a single buyer and a single seller, no mechanism can be simultaneously individually-rational, budget-balanced, incentive-compatible and socially-efficient. However, the impossibility disappears if the price is fixed exogenously and the social-efficiency goal is subject to individual-rationali...

Many auction settings implicitly or explicitly require that bidders are treated equally exante. This may be because discrimination is philosophically or legally impermissible, or because it is practically difficult to implement or impossible to enforce. We study so-called anonymous auctions to understand the revenue tradeoffs and to develop simple anonymous auctions that are approximately optim...

In this paper, we focus on computing the prices of securities represented by logical formulas in combinatorial prediction markets when the price function is represented by a Bayesian network. This problem turns out to be a natural extension of the weighted model counting (WMC) problem [15], which we call generalized weighted model counting (GWMC) problem. In GWMC, we are given a logical formula...

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