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To study the effect of congestion on the fundamental trade-off between diagnostic accuracy and speed, we empirically … improve diagnostic accuracy, but may also take time and increase congestion as a result. The efficient management of such … systems requires a careful balance of congestion-sensitive stopping rules. These include diagnoses made based on very little …
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We study the stability of voluntary cooperation in response to varying rates at which a group grows. Using a laboratory public-good game with voluntary contributions and economies of scale, we construct a situation in which expanding a group's size yields potential efficiency gains, but only if...
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In recognition of the design of Rule 611 of RegNMS that precludes fee washout, we introduce endogenous information acquisition into an asymmetric information model of the limit order book with access fees and continuous pricing. Informed traders optimally adjust the likelihood of an informed...
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