The paper presents an analysis of the trade-offs of participants of different type between payment delay and liquidity requirement on the basis of synthetically generated data. The generation of the synthetic transaction data set for a simple RTGS system is described and calibrated using real...

In The Economics of Order and Disorder (1992), Jacques Lesourne reflects on the influence of what he calls "exceptional personalities". According to his description, such personalities are characterised by a devotion to their own specific objectives, an outstanding ability to judge the resources...