Nowadays the research topics of science and technology are diversified and segmented into more and more categories. The number of interdisciplinary research topics has also increased. With increasingly sophisticated research on science and technology, there is a growing need for interdisciplinary and international availability, distribution and exchange of the latest research results, in re-edi...

Understanding and measuring determinants of bid-ask spreads is decisive to clarifying the efficiency of the microstructure of any exchange and general market liquidity. This paper examines the market microstructure of a low liquidity, market maker driven option market, the relations to the underlying securities’ market and the challenges of pricing liquidity. Comparing empirical results with pr...

The electricity market is a very peculiar market due to the large variety of phenomena that can affect the spot price. However, this market still shows many typical features of other speculative (commodity) markets like, for instance, data clustering and mean reversion. We apply the diffusion entropy analysis (DEA) to the Nordic spot electricity market (Nord Pool). We study the waiting time sta...

A P2P resource market is a market in which peers trade resources (including storage, bandwidth and CPU cycles) and services with each other. We propose a specific paradigm for a P2P resource market. This paradigm has five key components: (i) pairwise trading market, with peers setting their own prices for offered resources; (ii) multiple currency economy, in which any peer can issue its own cur...

Consumers buying goods online often cannot physically inspect the products prior to purchase. Thus an online market may turn what is usually regarded as a search good into an experience good. We investigate how this feature, together with other features of the marketplace, a¤ects a …rm’s choice between online and physical markets. Using a simple yet ‡exible framework, we show that the choice of...

We consider a two-sided, nite-horizon model of search and matching with heterogeneous types on both sides of the market. The quality of the pool of potential matches deteriorates as agents who have found mutually agreeable matches exit the market. With automatic participation of all agents in each round, the market performs a sorting function in that more attractive types of agents have a chanc...

this paper presents an overview of new approaches in rapid product development in production networks from design points of view. the manufacturing industries are changing their focus to global sourcing as a means to improve performance and enhance competitiveness. some partnerships created with this strategy improve product development through collaborative design. with the advent of e-commerc...

The market power of the incumbents means that average pool prices are set by the costs of entry. Reforms which raise entry costs will be proposed and should be resisted. Reforms to capacity payments may have little effect on prices, but could affect system security. The values of VOLL and LOLP appear grossly incorrect, and if changed might affect reserve margins and the allocation of investment...

Dark pools are equity trading systems that do not publicly display orders. Orders in dark pools are matched within the exchange bid-ask spread without a guarantee of execution. Informed traders are more likely to cluster on the heavy side of the market and therefore face a lower execution probability in the dark pool, relative to uninformed traders. Consequently, exchanges are more attractive t...