This publication consists of fifteen studies on payment and settlement systems conducted using computational or simulation techniques. The studies have been presented at the simulator seminars arranged by the Bank of Finland during the years 2009–2011. The main focus of the studies is on the...

Screening contracts (or non-linear "menu of contracts") are frequently used for aligning the incentives in supply chains with private information. In this context, it is assumed that all supply chain parties are strictly (expected) profit maximizing and, therefore, sensible to even arbitrarily...

The theories used to understand and predict regular non-problem gambling are almost exclusively affective or cognitive-oriented. These include motives, self-esteem, image enhancement and illusions of control over random events. However, gambling is one of the most frequently purchased consumer...

Experimental and survey-based research suggests that consumers often rely on their intuition and cognitive shortcuts to make decisions. Intuition and cognitive shortcuts can lead to suboptimal decisions and, especially in high-stakes decisions, to legitimate welfare concerns. In this paper, we...

Purpose – This paper claims that the parking policy is one of the most obvious tools for reducing traffic congestion, pollutant emissions and conflicts between transportation network users. The purpose of this paper is to propose and implement a strategy, via a simulation tool, for the sharing...

This paper deals with a new modeling approach for mode handling of flexible manufacturing systems (FMS). Based on a review of the modeling methods and the specification formalisms in the existing approaches, we show that the mutual benefit of functional modeling and synchronous languages is very...