The profit-maximizing and oligopoly bank model developed by Bresnahan and Lau allows determining the degree of market power held by an average bank. The equilibrium price equation includes a mark up, which is not used in the case of perfect competition but which is partially used in the case of...

Literature has divergent views on the relationship between market structure and allocation of credit by banks. Using quarterly bank scope data from 23 banks operating in Kenya between 2006 and 2018, we find that, while an increase in competition may improve allocation of credit in the short run,...

A key problem of construction firms' management and economy is organization of effective participation in public tenders. The direct executor, who determines the price of the contract, may be interested in obtaining as many contracts as possible. It means that his strategic behavior in tender...

Maritime transportation plays a leading role in the movement and minimization of transportation costs of goods between regions. One of the major challenges faced by port managers/operators is the growing number of containers or ship traffic which can affect the port container terminal...

Purpose: Manufacturing systems include a complicated combination of resources, such as materials, labors, and machines. Hence, when the manufacturing systems are faced with a problem related to the availability of resources it is difficult to identify the root of the problem accurately and...

In this article, we describe simulation-based decision support techniques for evaluation of operational plans within effects-based planning. Using a decision support tool, developers of operational plans are able to evaluate thousands of alternative plans against possible courses of events and...

This paper extends traditional payment system simulation analysis to counterparty liquidity risk exposures. The used stress test scenario corresponds to the counterparty stress scenario applied in the BCBS standard "Monitoring tools for intraday liquidity management" (BIS, 2013). This stress...

During the early modern age, shaping the mechanisms and guarantees of financial and commercial transactions was the basis for the expansion of commercial markets: the beginning of market globalization was due not only to the discovery of a new continent and new trade routes, but also to the...

In this viewpoint article, we provide an analysis of the value proposition of De(centralized) Fi(nance) and its limitations using a simple stylized model of collateralized lending. DeFi uses a decentralized ledger to run smart contracts that automatically enforce the terms of a lending contract...