Biographical note: Christopher McMahon is Professor of Philosophy at the University of California, Santa Barbara, and author of Reasonable Disagreement: A Theory of Political Morality, Collective Rationality and Collective Reasoning, and Authority and Democracy: A General Theory of Government...

A response to the discussants, Nien-hê Hsieh, Jeffrey Moriarty and J. (Hans) van Oosterhout, who took part in the March, 2005 symposium “The Political Theory of Organizations: A Retrospective Examination of Christopher McMahon’s Authority and Democracy: A General Theory of Government...

High-value payment systems (HVPSs) are typically liquidity intensive because payments are settled on a gross basis. State-of-the-art solutions to this problem include algorithms that seek netting sets and allow for ad hoc reordering of submitted payments. This paper introduces a new algorithm...