Applying tropos to socio-technical system design and runtime configuration

Recent trends in Software Engineering have introduced the importance of reconsidering the traditional idea of software design as a socio-tecnical problem, where human agents are integral part of the system along with hardware and software components. Design and runtime support for Socio-Technical Systems (STSs) requires appropriate modeling techniques and non-traditional infrastructures. Agent-oriented software methodologies are natural solutions to the development of STSs, both humans and technical components are conceptualized and analyzed as part of the same system. In this paper, we illustrate a number of Tropos features that we believe fundamental to support the development and runtime reconfiguration of STSs. Particularly, we focus on two critical design issues: risk analysis and location variability. We show how they are integrated and used into a planning-based approach to support the designer in evaluating and choosing the best design alternative. Finally, we present a generic framework to develop self-reconfigurable STSs

Adaptive Financial Regulation and RegTech: A Concept Article on Realistic Protection for Victims of Bank Failures

Frustrated by the seeming inability of regulators and prosecutors to hold bank executives to account for losses inflicted by their companies before, during, and since the financial crisis of 2008, some scholars have suggested that private-attorney-general suits such as class action and shareholder derivative suits might achieve better results. While a few isolated suits might be successful in cases where there is provable fraud, such remedies are no general panacea for preventing large-scale bank-inflicted losses. Large losses are nearly always the result of unforeseeable or suddenly changing economic conditions, poor business judgment, or inadequate regulatory supervision—usually a combination of all three. Yet regulators face an increasingly complex task in supervising modern financial institutions. This Article explains how the challenge has become so difficult. It argues for preserving regulatory discretion rather than reducing it through formal congressional direction. The Article also asserts that regulators have to develop their own sophisticated methods of automated supervision. Although also not a panacea, the development of “RegTech” solutions will help clear away volumes of work that understaffed and underfunded regulators cannot keep up with. RegTech will not eliminate policy considerations, nor will it render regulatory decisions noncontroversial. Nevertheless, a sophisticated deployment of RegTech should help focus regulatory discretion and public-policy debate on the elements of regulation where choices really matter

Pursuing the American Dream: Homeownership and the Role of Federal Housing Policy

Homeownership has always been a strong component of housing and housing policy in the United States. Owning a home is considered an important social and economic indicator, as well as a symbol of having a stake in society and contributing to the stability to the community. The system for producing housing units suitable for homeownership, and for financing home mortgages, has changed dramatically in recent decades. Technology and innovations have increased speed, efficiency and volume, resulting in more families finding mortgage financing than ever before and new homes being produced in record numbers. While homeownership rates are near all-time highs, particular demographic and economic populations, as well as distressed areas, lag behind. Despite greater access to mortgage credit for most families and communities, increased risks, and higher costs of credit, are being shouldered by consumers.This paper attempts to provide an overview of U.S. housing policies related to homeownership, an analysis of the barriers to homeownership, and background on pressing federal policies, programs, and regulations that could be refined to better support homeownership. As the Millennial Housing Commission considers recommendations regarding federal homeownership policy, several issues are paramount:1. What more can the federal government do to encourage and support homeownership?2. What can the federal government do to encourage innovations in the mortgage market, while adequately protecting consumers?3. What can the federal government do to help ensure that mortgage borrowers understand the rights and responsibilities of homeownership and are prepared to assume them?4. What can the federal government do to encourage the production and preservation of homes affordable to those with lower-incomes?Buying a home is typically the largest and most complicated financial commitment most households ever make. Would-be first-time buyers face many barriers to qualify for a conventionally-priced mortgage, including an inability to afford monthly payments, lacking sufficient savings for a downpayment and closing costs, having high debts or an unstable income. Even if they qualify, potential buyers may be hampered by a lack of affordable homes in a desirable area, or even information on how to buy a home or negotiate the best deal. Veiled or overt discriminatory practices still employed by some in the real estate and financial industries also conspire against some potential homebuyers. In combination, these hurdles, especially among low-income and minority populations, keep homeownership, and its ancillary social and economic benefits, out of reach.Policy makers and practitioners should understand the risks and implications of expanding homeownership to lower-income families. Unlike in the rental housing market, individual families must be able to successfully maintain their homes and their mortgages. Individual households need to have the capacity to stay current on their loans and to undertake needed repairs and upkeep. When families fail at homeownership, entire neighborhoods can be affected in addition to the substantial losses individual households must endure. To the extent that expanding homeownership to low- and very-low income people is a priority, correlated issues of access banking services, personal financial management and education policy must be considered.Based on interviews with leading practitioners, focus groups and other research, a series of policy changes are explored. Generally, policy prescriptions can be grouped into three categories:1.) Expanding the reach of mortgage markets for sustainable homeownership;2.) Educating and protecting consumers engaged in mortgage and home equity markets; and3.) Producing and preserving units suitable for affordable homeownership

mt5se: An Open Source Framework for Building Autonomous Traders

Autonomous trading robots have been studied in artificial intelligence area for quite some time. Many AI techniques have been tested for building autonomous agents able to trade financial assets. These initiatives include traditional neural networks, fuzzy logic, reinforcement learning but also more recent approaches like deep neural networks and deep reinforcement learning. Many developers claim to be successful in creating robots with great performance when simulating execution with historical price series, so called backtesting. However, when these robots are used in real markets frequently they present poor performance in terms of risks and return. In this paper, we propose an open source framework, called mt5se, that helps the development, backtesting, live testing and real operation of autonomous traders. We built and tested several traders using mt5se. The results indicate that it may help the development of better traders. Furthermore, we discuss the simple architecture that is used in many studies and propose an alternative multiagent architecture. Such architecture separates two main concerns for portfolio manager (PM) : price prediction and capital allocation. More than achieve a high accuracy, a PM should increase profits when it is right and reduce loss when it is wrong. Furthermore, price prediction is highly dependent of asset's nature and history, while capital allocation is dependent only on analyst's prediction performance and assets' correlation. Finally, we discuss some promising technologies in the area.Comment: This paper replaces an old version of the framework, called mt5b3, which is now deprecate

Project BeARCAT : Baselining, Automation and Response for CAV Testbed Cyber Security : Connected Vehicle & Infrastructure Security Assessment

Connected, software-based systems are a driver in advancing the technology of transportation systems. Advanced automated and autonomous vehicles, together with electrification, will help reduce congestion, accidents and emissions. Meanwhile, vehicle manufacturers see advanced technology as enhancing their products in a competitive market. However, as many decades of using home and enterprise computer systems have shown, connectivity allows a system to become a target for criminal intentions. Cyber-based threats to any system are a problem; in transportation, there is the added safety implication of dealing with moving vehicles and the passengers within

Digital Twins and the Future of their Use Enabling Shift Left and Shift Right Cybersecurity Operations

Digital Twins (DTs), optimize operations and monitor performance in Smart Critical Systems (SCS) domains like smart grids and manufacturing. DT-based cybersecurity solutions are in their infancy, lacking a unified strategy to overcome challenges spanning next three to five decades. These challenges include reliable data accessibility from Cyber-Physical Systems (CPS), operating in unpredictable environments. Reliable data sources are pivotal for intelligent cybersecurity operations aided with underlying modeling capabilities across the SCS lifecycle, necessitating a DT. To address these challenges, we propose Security Digital Twins (SDTs) collecting realtime data from CPS, requiring the Shift Left and Shift Right (SLSR) design paradigm for SDT to implement both design time and runtime cybersecurity operations. Incorporating virtual CPS components (VC) in Cloud/Edge, data fusion to SDT models is enabled with high reliability, providing threat insights and enhancing cyber resilience. VC-enabled SDT ensures accurate data feeds for security monitoring for both design and runtime. This design paradigm shift propagates innovative SDT modeling and analytics for securing future critical systems. This vision paper outlines intelligent SDT design through innovative techniques, exploring hybrid intelligence with data-driven and rule-based semantic SDT models. Various operational use cases are discussed for securing smart critical systems through underlying modeling and analytics capabilities.Comment: IEEE Submitted Paper: Trust, Privacy and Security in Intelligent Systems, and Application

Theory of financial integration and achievements in the European Union

Financial integration is the process that has been occurring in the European Union for many years and that intensified after adoption of the common currency in 1999. This paper discusses the theoretical framework of financial integration, particularly the definition, typology, benefits and drawbacks. More opportunities for risk sharing and diversification, better allocation of capital among investment opportunities, and potential for higher economic growth were identified as the crucial benefits of financial integration. By contrast, we consider increased vulnerability to external macroeconomic shocks and financial crises transmitted to higher output and consumption volatility as the most serious drawbacks of financial integration. The paper also summarizes the progress in financial integration that has been achieved in individual segments of the European Union financial sector. It is evident that the most integrated are the euro area money market and the government bonds markets. The remaining financial markets are still rather fragmented.financial integration; financial markets; European Union; euro area