A key issue raised by previous researchers is the extent to which learning versus market structure is responsible for the high efficiency regularly observed for the double auction in human-subject experiments. In this study, a computational discrete double auction with discriminatory pricing is...

In April 2003 the U.S. Federal Energy Regulatory Commission proposed the Wholesale Power Market Platform (WPMP) for common adoption by all U.S. wholesale power markets. The WPMP is a complicated market design envisioning day-ahead, real-time, and ancillary service markets maintained and operated...

To control and price negative externalities in passenger road transport, we develop an innovative and integrated computational agent based economics (ACE) model to simulate a market oriented "cap" and trade system. (i) First, there is a computational assessment of a digitized road network model...

T.W. Schultz (1975) proposed that returns to human capital were highest in economicenvironments where technology, price or production shocks were common and managerial skillsto adapt resource allocations to those shocks were most in need. We hypothesize that variationin returns to human capital...

Sometimes authorities are unable to identify rapidly the origin of a tainted product.In such cases, recalls or warnings often apply to all suppliers, even to those thathad not contributed to the contamination. Traceability enables more targetedrecalls by identifying more specically the product's...