Simulative study of the decentralized control of complex conveyor networks

Decentralised controls offer advantages for the implementation as well as the operation of controls of steady conveyors. Such concepts are mainly based on RFID. Due to the reduced expense for appliances and software, however, the plant behaviour cannot be determined as accurately as in centrally controlled systems. This article describes a simulation-based method by which the performances of these two control concepts can easily be evaluated in order to determine the suitability of the decentralised concept.

Emergence of Financial Intermediaries in Electronic Markets: The Case of Online P2P Lending

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the monitoring of loan repayment can be delegated to designated group leaders. We find that these market participants act as financial intermediaries and significantly improve borrowers' credit conditions by reducing information asymmetries, predominantly for borrowers with less attractive risk characteristics. Our findings may be surprising given the replacement of a bank by an electronic marketplace.