infonet-economy

The messenger paradigm is an alternative to computer communication based on the exchange of programs called messengers which are afterwards executed, instead of messages that are interpreted. The communication by messenger paradigm can be used to implement both low level software such as communication protocols and high level software such as distributed applications. Using the…

An important problem that many large organizations face today concerns the support and evolution of their large (legacy) information systems. In this paper we present an approach for migrating large and interdependent legacy information systems to CORBA based platforms. Our approach allows continuous availability of the information systems, minimal manpower for the implementation and…

We use wehn-issued transactions data to assess the Treasury's current experiment with uniform auctions, suggesting a higher information release, which should reduce pre-auction uncertainty and the winner's curse. Under uniform auctions, wehn-issued volatility falls after the auction and again after the outcome announcement. The pattern is the opposite for discriminatory…

This paper describes three insolvency codes, those of the United Kingdom (UK), Germany, and the United States (US) and compares their efficiency against a number of benchmarks. These codes have been chosen because they cover a broad spectrum of debtor- and creditor-oriented insolvency procedures. The paper also compares the plans of distressed firms' reorganizations both within…

Tone onset and normal tone offset in Nd tasks are formally similar to the S1 and S2 events in a CNV task requiring perceptual discrimination (tone duration) for designated tones. If the Nd thus reflects more than mere stimulus selection, increasing the duration of all tones should lengthen the Nd wave. Eight subjects participated to three Nd tasks, with short tones of 50, 150, and…

Because of the public good character of global emissions it is difficult to implement reduction
targets as formulated at Toronto or Rio. This paper presents a simple mechanism for inducing
efficient contributions to the reductions of emissions as a non-cooperative equilibrium. The
world is partitioned into groups of countries, and then each country is taxed or…

This paper employs ICP expenditure data to investigate the relationship between income and product diversity. It turns out that per-capita income has a strong positive impact on the number of products consumed at a non-negligible level in a country, and a significant negative impact on the concentration of consumers' expenditure across different goods categories. Inequality in…

Contrary to what is usually implied by work on the relationship between political opportunity structures and social movements, political institutions are not a general setting offering or denying formal access and political opportunities to every challenge, but rather favor certain types of movements and constrain others. This process of institutional selectivity depends on the…

The complexity of the interaction between time and uncertainty made finance models to one of the most important applications of probability theory and optimization theory. Stochastic programming combines those two fields with the intention to design methodologies for planning under uncertainty. This tutorial consists of two parts, written for practitioners, in particular financial…