While algorithmic trading robots are a proliferating presence in asset markets, there is no consensus whether their presence improves market quality or benefits individual investors. We examine the impact of robots seeking arbitrage in experimental laboratory markets. We find that the presence...

This paper discusses the problems regarding the decentralisation of a formerly communist country. In Georgia, the first steps towards decentralisation failed, since the transition process led to a power vacuum that escalated in bloody conflicts and secessionist movements. The status of Abkhazia...