We consider the problem of Adverse Selection and optimal derivative design within a Principal-Agent framework. The principal’s income is exposed to non-hedgeable risk factors ar...
This paper presents an analysis of entries in the first TAC Market Design Competition that compares the entries across several scenarios. The analysis complements previous work a...
Jinzhong Niu, Kai Cai, Peter McBurney, Simon Parso...
A non-uniform cellular automata-based model is presented for the evolutionary development of digital circuits at the gate level. The main feature of this model is the modified lo...