We develop a probabilistic consumer choice framework based on information asymmetry between consumers and firms. This framework makes it possible to study market competition of several firms by both quality and price of their products. We find Nash market equilibria and other optimal strategies...

Genetic association studies are a powerful tool to detect genetic variants that predispose to human disease. Once an associated variant is identified, investigators are also interested in estimating the effect of the identified variant on disease risk. Estimates of the genetic effect based on...

This study investigates the moisture damage mechanism and material selection of hot-mix asphalt (HMA) with amine-based liquid antistripping agent (ASA). The surface free energy (SFE) of virgin and ASA modified asphalts and five aggregates with different acidities were measured, yielding the...

Egypt, a country with harsh natural environment and rapid population growth, has being plagued by the problem of food security. Application of remote sensing techniques, the original model for assessing the food security in Egypt is presented. By extracting the gray-level co-occurrence matrix...

The photoelectrochemical reduction of CO2 provides a clean and sustainable route to produce value-added chemicals and fuels using sunlight as the energy source and greenhouse gas CO2 as the feedstock. However, the use of pure CO2 decreases the economic feasibility of the technology. Direct...

Demand outstrips available resources in most situations, which gives rise to competition, interaction and learning. In this article, we review a broad spectrum of multi-agent models of competition (El Farol Bar problem, Minority Game, Kolkata Paise Restaurant problem, Stable marriage problem,...

Using the Minority Game model we study a broad spectrum of problems of market mechanism. We study the role of different types of agents: producers, speculators as well as noise traders. The central issue here is the information flow : producers feed in the information whereas speculators make it...

We propose a continuum model for the description of buyer and seller dynamics in an Internet market. The relevant variables are the research effort of buyers and the sellers' reputation building process. We show that, if a commercial web-site gives consumers the possibility to rate credibly...

We study investment strategy in different models of financial markets, where the investors cannot reach a perfect knowledge about available assets. The investor spends a certain effort to get information; this allows him to better choose the investment strategy, and puts a selective pressure...

I summarize the recent work on market (in)efficiency, highlighting key elements why financial markets will never be made efficient. My approach is not by adding more empirical evidence, but giving plausible reasons as to where inefficiency arises and why it's not rational to arbitrage it away.