A new approach to the design of electronic exchanges

Electronic Exchanges are double-sided marketplaces that allows multiple buyers to trade with multiple sellers, with aggregation of demand and supply across the bids to maximize the revenue in the market. In this paper, we propose a new design approach for an one-shot exchange that collects bids from buyers and sellers and clears the market at the end of the bidding period. The main principle of the approach is to decouple the allocation from pricing. It is well known that it is impossible for an exchange with voluntary participation to be efficient and budget-balanced. Budget-balance is a mandatory requirement for an exchange to operate in profit. Our approach is to allocate the trade to maximize the reported values of the agents. The pricing is posed as payoff determination problem that distributes the total payoff fairly to all agents with budget-balance imposed as a constraint. We devise an arbitration scheme by axiomatic approach to solve the payoff determination problem using the added-value concept of game theory.

Thermoelectric properties of Bi-added Co4Sb12 skutterudites

Void filling in (I) Bi-x-added Co4Sb12 or (II) Sb/Bi substitution of Co4Sb12-xBix has been investigated for structural and thermoelectric properties evaluation. X-ray powder data Rietveld refinements combined with electron probe microanalyses showed a polycrystalline and practically Bi-free CoSb3 skutterudite phase as the major constituent as well as a secondary Bi phase in the grain boundaries. For series I alloys, the electrical conductivity, Seebeck coefficient and thermal conductivity were measured as a function of temperature in the range from 450 to 750 K. The electrical conductivity of all the samples increased with increasing temperature, showing a semiconducting nature with smaller values of the Seebeck coefficient for higher Bi fractions. Conduction over the entire temperature range was found to arise from a single p-type carrier. Thermal conductivity showed a reduction with Bi added in all the samples, except for Bi0.75Co4Sb12, and the lowest lattice thermal conductivity was found for a Bi-added fraction of 0.5. The maximum zT value of 0.53 at 632 K is higher than that of Co4Sb12.