Trade determination in multi-attribute exchanges

Electronic exchanges are double-sided marketplaces that allow multiple buyers to trade with multiple sellers, with aggregation of demand and supply across the bids to maximize the revenue in the market. Two important issues in the design of exchanges are (1) trade determination (determining the number of goods traded between any buyer-seller pair) and (2) pricing. In this paper we address the trade determination issue for one-shot, multi-attribute exchanges that trade multiple units of the same good. The bids are configurable with separable additive price functions over the attributes and each function is continuous and piecewise linear. We model trade determination as mixed integer programming problems for different possible bid structures and show that even in two-attribute exchanges, trade determination is NP-hard for certain bid structures. We also make some observations on the pricing issues that are closely related to the mixed integer formulations.

Population, globalization and urbanization: Trends and underlying prosesses

Third World hinterlands provide most of the settings in which the quality of human life has improved the least over the decade since Our Common Future was published. This low quality of life promotes a desire for large number of offspring, fuelling population growth and an exodus to the urban centres of the Third World, Enhancing the quality of life of these people in ways compatible with the health of their environments is therefore the most significant of the challenges from the perspective of sustainable development. Human quality of life may be viewed in terms of access to goods, services and a satisfying social role. The ongoing processes of globalization are enhancing flows of goods worldwide, but these hardly reach the poor of Third World countrysides. But processes of globalization have also vastly improved everybody's access to Information, and there are excellent opportunities of putting this to good use to enhance the quality of life of the people of Third World countrysides through better access to education and health. More importantly, better access to information could promote a more satisfying social role through strengthening grass-roots involvement in development planning and management of natural resources. I illustrate these possibilities with the help of a series of concrete experiences form the south Indian state of Kerala. Such an effort does not call for large-scare material inputs, rather it calls for a culture of inform-and-share in place place of the prevalent culture of control-and-command. It calls for openness and transparency in transactions involving government agencies, NGOs, and national and transnational business enterprises. It calls for acceptance of accountability by such agencies.