On the Effects of Omitting Information Exchange between Autonomous Resource Management Agents

We study the problem of information exchange between coordinated autonomous resource management agents. We limit information to that which can be directly observed by each agent. While exchanging all relevant observables leads to near optimal management, leaving out information leads to ”hidden variable” problems that affect only part of the overall behavior. The patterns observed for hidden variables in simulation predict what will happen in a realistic situation when not all information is interchanged. Through simulation, we observe that leaving out information results in non-optimal behavior of the resource management model when resource needs are decreasing, although the partial information model performs very well when resource needs are increasing

Asymptotically idempotent aggregation operators for trust management in multi-agent systems

The study of trust management in multi-agent system, especially distributed, has grown over the last years. Trust is a complex subject that has no general consensus in literature, but has emerged the importance of reasoning about it computationally. Reputation systems takes into consideration the history of an entity’s actions/behavior in order to compute trust, collecting and aggregating ratings from members in a community. In this scenario the aggregation problem becomes fundamental, in particular depending on the environment. In this paper we describe a technique based on a class of asymptotically idempotent aggregation operators, suitable particulary for distributed anonymous environments

A dual-role typology of multinational subsidiaries

This paper argues that, since a subsidiary is embedded in a dual context of both the MNE and the host environment, its strategic role should be assessed by its relative positions and contributions both within the knowledge networks of the MNE and the host country. Based on this, we develop a dual-role typology. The 369 multinational subsidiaries in our sample from China can be classified into as many as 12 out of the 16 conceptual groups of the typology. Our results indicate that dual activists (active both internally and externally) account for only 12% of the total sampled multinational subsidiaries while dual loners (inactive both internally and externally) reach 20%. The results from a larger sample by adding 113 minority foreign share firms show that external knowledge links are positively associated with local Chinese ownership. The central message from this paper is that a large proportion of foreign-invested firms in China are inactive in knowledge exchange either internally or externally or both. Managerial and policy implications are discussed

Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?

Romania's overall economic performance during the first ten years of transition can be termed so far as disappointing: the country has not been able to deliver steady growth, low unemployment and low inflation. This paper focuses on the effectiveness of monetary mechanisms and policies during this period. Special emphasis is set on the exchange rate mechanism. The first part of the text develops a short introduction to relevant monetary theory in the transition context. In the second part, we analyse the stylised facts pertaining to Romanian economy and put forward some weaknesses of its banking system and monetary policies. The conclusion presents a set of recommendations for a reform of the going monetary policy.http://deepblue.lib.umich.edu/bitstream/2027.42/39786/3/wp402.pd

Rice-Self Sufficiency and Farmhouseholds: the Role of Climate Change and Technology Response in Nigeria

While the production of rice has shown increasing trend both in area cultivated and output in the last 5 decades, yield appears very low and below the average potential for the major rice producing ecologies. Changes in climate and atmospheric composition can negatively affect food supply at the household level because climatic factors are believed to be the strongest elements influencing crop yield. While Nigeria’s government recognizes climate change adaptation as an important developmental issue and the mainstreaming in economic planning begun, there is little evidence of the integration in the National rice development strategy programme. Climatic conditions can be detrimental or beneficial depending on the level of feasible technology and management choices that are in turn mediated by factors related to the biophysical condition of the farmland, financial resources of the farmer, socio cultural, institutions and information technology.  Realization of rice self-sufficiency at the household level stands at risk because majority of the farmers are economically, socially and politically alienated. Keywords: climate change, agriculture, adaptation, technology and food securit

The Behavior of Money, Credit, and Prices in a Real Business Cycle

This paper analyzes the interaction of money and the price level with a business cycle that is fully real in origin, adopting a view which differs sharply from traditional theories that assign a significant causal influence to monetary movements. The theoretical analysis focuses on a banking system that produces transaction. services on demand and thus reflects market activity. Under one regime of bank regulation and fiat money supply by the monetary authority, the real business cycle theory predicts that (i)movements in external monetary measures should be uncorrelated with real activity and(ii) movements in internal monetary measures should be positively correlated with real activity. Preliminary empirical analysis provides general support for this focus on the banking sector since much of the correlation between monetary measures and real activity is apparently with inside money.

Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?

Romania's overall economic performance during the first ten years of transition can be termed so far as disappointing: the country has not been able to deliver steady growth, low unemployment and low inflation. This paper focuses on the effectiveness of monetary mechanisms and policies during this period. Special emphasis is set on the exchange rate mechanism. The first part of the text develops a short introduction to relevant monetary theory in the transition context. In the second part, we analyse the stylised facts pertaining to Romanian economy and put forward some weaknesses of its banking system and monetary policies. The conclusion presents a set of recommendations for a reform of the going monetary policy.monetary policy, banking system, exchange rate mechanism, Romania, policy reform

Exchange-Rate Dynamics

This paper discusses the dynamic behavior of exchange rates, focusing both on the exchange rate's response to exogenous shocks and the relation between exchange-rate movements and movements in important endogenous variables such as prices, interest rates, output, and the current account. Aspects of exchange-rate dynamics are studied in a variety of models, some of which are based on postulated supply and demand functions for assets and goods, and some of which are based on explicit individual utility-maximizing problems. Section 1 surveys the terrain. Section 2 explores the simplest model in which the relation among the exchange rate, price levels, and the terms of trade can be addressed -- a flexible-price small-country model in which wealth effects are absent and domestic and foreign goods are imperfect substitutes. Section 3 introduces market frictions so that the role of endogenous output fluctuations can be studied. Both sticky-price models and alternative market-friction models are discussed. Section 4 studies the link between the accumulation of foreign assets and domestic capital and the exchange rate.Section 5 examines deterministic and stochastic models in which individual behavior is derived from an explicit intertemporal optimization problem. Finally, section 6 offers concluding remarks.

Analysis of current middleware used in peer-to-peer and grid implementations for enhancement by catallactic mechanisms

This deliverable describes the work done in task 3.1, Middleware analysis: Analysis of current middleware used in peer-to-peer and grid implementations for enhancement by catallactic mechanisms from work package 3, Middleware Implementation. The document is divided in four parts: The introduction with application scenarios and middleware requirements, Catnets middleware architecture, evaluation of existing middleware toolkits, and conclusions. -- Die Arbeit definiert Anforderungen an Grid und Peer-to-Peer Middleware Architekturen und analysiert diese auf ihre Eignung für die prototypische Umsetzung der Katallaxie. Eine Middleware-Architektur für die Umsetzung der Katallaxie in Application Layer Netzwerken wird vorgestellt.Grid Computing