Related papers: The Black Market for Beijing License Plates
Market making plays a crucial role in providing liquidity and maintaining stability in financial markets, making it an essential component of well-functioning capital markets. Despite its importance, there is limited research on market…
Trading frictions are stochastic. They are, moreover, in many instances fast-mean reverting. Here, we study how to optimally trade in a market with stochastic price impact and study approximations to the resulting optimal control problem…
We study optimization problems for partially hinged rectangular plates, modeling bridge roadways, in the presence of real and artificial obstacles. Real obstacles represent structural constraints to avoid, while artificial ones are…
This study examines fairness within the rideshare industry, focusing on both drivers' wages and riders' trip fares. Through quantitative analysis, we found that drivers' hourly wages are significantly influenced by factors such as…
We consider a simplified model of the continuous double auction where prices are integers varying from $1$ to $N$ with limit orders and market orders, but quantity per order limited to a single share. For this model, the order process is…
Money laundering is a global phenomenon with wide-reaching social and economic consequences. Cryptocurrencies are particularly susceptible due to the lack of control by authorities and their anonymity. Thus, it is important to develop new…
Dark markets are commercial websites that use Bitcoin to sell or broker transactions involving drugs, weapons, and other illicit goods. Being illegal, they do not offer any user protection, and several police raids and scams have caused…
ISPs are increasingly selling "tiered" contracts, which offer Internet connectivity to wholesale customers in bundles, at rates based on the cost of the links that the traffic in the bundle is traversing. Although providers have already…
Informal and privatized transit services, such as minibuses and shared auto-rickshaws, are integral to daily travel in large urban metropolises, providing affordable commutes where a formal public transport system is inadequate and other…
Fintech business models based on distributed ledgers -- and their smart-contract variants in particular -- offer the prospect of democratizing access to faster, anywhere-accessible, lower cost, reliable-and-secure high-quality financial…
Negative sampling schemes enable efficient training given a large number of classes, by offering a means to approximate a computationally expensive loss function that takes all labels into account. In this paper, we present a new connection…
This study explores the design of an efficient rebate policy in auction markets, focusing on a continuous-time setting with competition among market participants. In this model, a stock exchange collects transaction fees from auction…
In this paper we give an elementary analysis of economics of Bitcoin that combines the transaction demand by the consumers and the supply of hashrate by miners. We argue that the decreasing block reward will have no significant effect on…
Real-time optimization of traffic flow addresses important practical problems: reducing a driver's wasted time, improving city-wide efficiency, reducing gas emissions and improving air quality. Much of the current research in traffic-light…
We advocate to create a \emph{spot} Internet transit market, where transit is sold using the under-utilized backbone capacity at a lower price. The providers can improve profit by capitalizing the perishable capacity, and customers can buy…
Finding a free parking space in a city has become a challenging task over the past decades. A recently proposed auction-based parking assignment can alleviate cruising for parking and also set a market-driven, demand-responsive parking…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…
Traders buy and sell financial instruments in hopes of making profit, and brokers are responsible for the transaction. There are several hypotheses and conspiracy theories arguing that in some situations, brokers want their traders to lose…
In this paper, I consider a simple heterogeneous agents model of a production economy with uncertain climate change and examine constrained efficient carbon taxation. If there are frictionless, complete financial markets, the simple model…
The use of the trading halts is a practice common to all markets. However, the advantages and the disadvantages of the measurements are regularly discussed. The partisans think that the trading suspensions or the price limits make it…