Organizations face a competitive certification market for their statements, the statements do not convince third parties unless certified, the organizations are sometimes better served by a lie, and honest mistakes are possible. In our model of such a market: if certifiers are liable for...

Online anonymity has posed a significant threat on online reputation mechanisms and online identity management. How to improve the reliability and effectiveness of online reputation has thus become an important question of theoretical and practical interest. We examine a reputation market in an...

Based on high-frequency data for Norway and Sweden, we investigate to what extent explicit forward guidance from monetary policy makers, by means of publishing the path of expected future policy rates, affects the market yield curve. We summarise movements in the yield curve by two latent...

We develop a system for grid computing where the price of computing tasks is determined by an audited market-exchange. We show a method to provide a variable certificate, called \witness," of program execution with the following property: If two different agents running the same program on the...

The study analyses the bankruptcy of newly formed Japanese small and medium-sized entities (SMEs) by comparing specific features with newly formed but survived SMEs. It applies Resource-based Firm Theory and other theories to identify the bankruptcy features and uses logit regression to validate...