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Selling and buying in a distributed virtual market place
We present a model for a distributed virtual market place that can be conÂstructed on the Internet to support selling and buying requests, such as those found as classified advertisements. One requirement for a transaction to take place in the virtual market place is that a sell request and a buy request to be matched. For this purpose, we create databases at different levels of geographiÂcal regions and connect them in a DNS-like hierarchical structure. Furthermore copies of each sell or buy request may be stored at multiple sites, so that, when a new sell or buy request is introduced, the search time in the database where the matching buy or sell requests may be found is reduced. Various methods for storing and searching sell and buy requests are analyzed.Key Words and Phrases: virtual market place, distributed query processing, distributed database, hierarchical data distributio
On Financial Markets Trading
Starting from the observation of the real trading activity, we propose a
model of a stockmarket simulating all the typical phases taking place in a
stock exchange. We show that there is no need of several classes of agents once
one has introduced realistic constraints in order to confine money, time, gain
and loss within an appropriate range. The main ingredients are local and global
coupling, randomness, Zipf distribution of resources and price formation when
inserting an order. The simulation starts with the initial public offer and
comprises the broadcasting of news/advertisements and the building of the book,
where all the selling and buying orders are stored. The model is able to
reproduce fat tails and clustered volatility, the two most significant
characteristics of a real stockmarket, being driven by very intuitive
parameters.Comment: 18 pages, submitte
Transforming Energy Networks via Peer to Peer Energy Trading: Potential of Game Theoretic Approaches
Peer-to-peer (P2P) energy trading has emerged as a next-generation energy
management mechanism for the smart grid that enables each prosumer of the
network to participate in energy trading with one another and the grid. This
poses a significant challenge in terms of modeling the decision-making process
of each participant with conflicting interest and motivating prosumers to
participate in energy trading and to cooperate, if necessary, for achieving
different energy management goals. Therefore, such decision-making process
needs to be built on solid mathematical and signal processing tools that can
ensure an efficient operation of the smart grid. This paper provides an
overview of the use of game theoretic approaches for P2P energy trading as a
feasible and effective means of energy management. As such, we discuss various
games and auction theoretic approaches by following a systematic classification
to provide information on the importance of game theory for smart energy
research. Then, the paper focuses on the P2P energy trading describing its key
features and giving an introduction to an existing P2P testbed. Further, the
paper zooms into the detail of some specific game and auction theoretic models
that have recently been used in P2P energy trading and discusses some important
finding of these schemes.Comment: 38 pages, single column, double spac
Liquidity Constraint and the Demand for Food: Income Elasticity of Calorie in Rural Ethiopia.
E-business offers buyers and sellers a new form of communication and provides an opportunity to create new marketplaces. Theoretical studies suggest in general that the development of e-business results in higher firm performance as a result of lower search and head-to-head comparison costs. However, there are a number of recent theoretical studies, which demonstrate that the growth of e-commerce may lead to monopolistic pricing behaviour so that firms engaging in e-commerce need not perform better compared to more traditional enterprises. To date, there exists little empirical evidence on the impact of information technology on economic performance. This paper is the first that uses a large representative data set of Belgian firms to study empirically the impact of e-business on corporate performance. Our main conclusions can be summarised as follows: (1) The penetration of the Internet in Belgian firms is high, however, the use of e-business is still limited. (2) It is especially the large firms that engage in e-business and mostly in e-procurement. (3) E-business has no effect on total factor productivity in small firms, however, we find positive effects on performance of e-business in large firms.new economy, internet, firm performance, e-procurement, e-business
Do consumers need a âBitâ more protection under Australian consumer laws? The regulatory risks and challenges of Bitcoin
The creation of Bitcoin, as a digital currency, has been a significant development in the world of finance, in that it provides an alternative method of payment to consumers and businesses who use Bitcoin as a means to buy or sell goods or simply as an investment arrangement. The use of Bitcoin, as a decentralised peer-to-peer network, provides numerous benefits as a payment system, but at the same time, creates challenges for consumers due to its unregulated nature and volatile status. Therefore, when Bitcoin users enter into agreements with Initial Coin Offering (ICO) hosted companies and Bitcoin exchange platforms, the conduct by these ICOs and exchanges may be misleading and unconscionable in relation to the information they disclose to the Bitcoin user (as a consumer). This paper will consider the application of the Competition and Consumer Act 2010 (Cth) and whether the Australian Consumer Law is suited to take into consideration Bitcoin transactions under the misleading and unconscionable provisions
TRIDEnT: Building Decentralized Incentives for Collaborative Security
Sophisticated mass attacks, especially when exploiting zero-day
vulnerabilities, have the potential to cause destructive damage to
organizations and critical infrastructure. To timely detect and contain such
attacks, collaboration among the defenders is critical. By correlating
real-time detection information (alerts) from multiple sources (collaborative
intrusion detection), defenders can detect attacks and take the appropriate
defensive measures in time. However, although the technical tools to facilitate
collaboration exist, real-world adoption of such collaborative security
mechanisms is still underwhelming. This is largely due to a lack of trust and
participation incentives for companies and organizations. This paper proposes
TRIDEnT, a novel collaborative platform that aims to enable and incentivize
parties to exchange network alert data, thus increasing their overall detection
capabilities. TRIDEnT allows parties that may be in a competitive relationship,
to selectively advertise, sell and acquire security alerts in the form of
(near) real-time peer-to-peer streams. To validate the basic principles behind
TRIDEnT, we present an intuitive game-theoretic model of alert sharing, that is
of independent interest, and show that collaboration is bound to take place
infinitely often. Furthermore, to demonstrate the feasibility of our approach,
we instantiate our design in a decentralized manner using Ethereum smart
contracts and provide a fully functional prototype.Comment: 28 page
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