The BitTorrent network, a well-known Internet-scale P2P system, applies the proportional response protocol to exchange resource, where each participant contributes resources to neighbors in proportion to the amount it received in the previous round. The dynamics of this protocol is known to...

This paper tests the hypotheses that poor investor-protection environments lead to higher information asymmetry in security markets. We compare China-based stocks, which operate in a relatively unprotected environment, to Hong Kong-based stocks. The information component in the market friction...

In today's online advertising markets, it is common for an advertiser to set a long-period budget. Correspondingly, advertising platforms adopt budget control methods to ensure that any advertiser's payment is within her budget. Most budget control methods rely on value distributions of...

We develop an auction system that determines a fair number of komi for holding black stones in a GO game, and hence the right to the first move. It is modeled as a priority right pricing problem that demands for budget-balanced and egalitarian conditions, where a negative utility is associated...