Information Dissemination and Aggregation in Asset Markets with Simple Intelligent Traders

Various studies of asset markets have shown that traders are capable of learning and transmitting information through prices in many situations. In this paper we replace human traders with intelligent software agents in a series of simulated markets. Using these simple learning agents, we are able to replicate several features of the experiments with human subjects, regarding (1) dissemination of information from informed to uninformed traders, and (2) aggregation of information spread over different traders.

Fast Sorting on a Distributed-Memory Architecture

We consider the often-studied problem of sorting, for a parallel computer. Given an input array distributed evenly over p processors, the task is to compute the sorted output array, also distributed over the p processors. Many existing algorithms take the approach of approximately load-balancing the output, leaving each processor with Θ(n/p) elements. However, in many cases, approximate load-balancing leads to inefficiencies in both the sorting itself and in further uses of the data after sorting. We provide a deterministic parallel sorting algorithm that uses parallel selection to produce any output distribution exactly, particularly one that is perfectly load-balanced. Furthermore, when using a comparison sort, this algorithm is 1-optimal in both computation and communication. We provide an empirical study that illustrates the efficiency of exact data splitting, and shows an improvement over two sample sort algorithms.