Relying on conditional entropy and on the notion of information transfer, we investigate price relationships in the most important commodity futures market: the American crude oil market. We first show that the information shared by futures contracts with different delivery dates increases...

We present a geometric model of social choice when the latter takes place among bundles of interdependent elements, that we will call objects. We show that the outcome of the social choice process is highly dependent on the way these bundles are formed. By bundling and unbundling the same set of...

We present a geometric model of social choice among bundles of interdependent elements, that we will call objects. We show that the outcome of the social choice process is highly dependent on the way these bundles are formed. By bundling and unbundling the same set of constituent elements an...

Имитационное моделирование вещественно-энергетических процессов в сложных системах удобно проводить с помощью динамических ориентированных графов (орграфов),...

This paper uncovers the relationship between stock markets and exchange ratesin seven countries by employing stable aggregate currency (SAC) for the period of 1973-2004. Ordinary Least Squares (OLS) regression, time series methods, and directedacyclic graphs are applied to the daily data on...

In this paper we study a local version of the Minority Game where agents are placed on the nodes of a directed graph. Agents care about beingin the minority of the group of agents they are currently linked to and employ myopic best-reply rules to choose their next-period state. We show that, in...