Understanding the ex-ante cost of liquidity in the limit order book: A note

This paper estimates a new measure of liquidity costs in a market driven by orders. It represents thecost of simultaneously buying and selling a given amount of shares, and it is given by a single measure of ex-ante liquidity that aggregates all available information in the limit order book for a given number of shares. The cost of liquidity is an increasing function relating bid-ask spreads with the amounts available for trading. This measure completely characterizes the cost of liquidity of any given asset. It does not suffer from the usual ambiguities related to either the bid-ask spread or depth when they are considered separately. On the contrary, with a single measure, we are able to capture all dimensions of liquidity costs on ex-ante basis.

The reverse self-dual serial cost-sharing rule

In this study we define a cost sharing rule for cost sharing problems. This rule is related to the serial cost-sharing rule defined by Moulin and Shenker (1992). We give some formulas and axiomatic characterizations for the new rule. The axiomatic characterizations are related to some previous ones provided by Moulin and Shenker (1994) and Albizuri (2010).

Background paper on the international seafood trade and poverty

(121 p.)

FFA Fisheries Trade Briefing, Vol. 1, Issue 8 & 9, pp. 1-12, July-August 2008

Contents: Fisheries Subsidies. Status of fisheries subsidies talks at the WTO. Preferential Free Trade Agreements. Collapse of Doha Round results in rise of FTAs Update on EU Generalised System of Preferences regime Fisheries Trade-related Regulation. Soltai encounters quality problems. Update on Fiji seafood export ban to the EU. EU sanitary inspections in other developing countries Tuna Markets. Developments in the US debate on the mercury content of tuna. Other developments in the US market. Japanese tuna fisheries and seafood markets. Greenpeace tuna campaign moves to the UK. Thai Union predicts growth for 2008. (PDF contains 12 pages)

The African slave trade and its remedy

Esta edição é revista e aumentada, com mais do dobro de páginas da edição primitiva, de 1839, que continha 240 páginas. Buxton, presidente da Sociedade para a Extinção do Tráfico de Escravos, apresenta um detalhadíssimo estudo do comércio de negros, desde a África Central e ambas as costas do Continente, até o Brasil, os Estados Unidos, Cuba, etc. Há estimativas de mortalidade em todos os estágios do cativeiro. A maior parte das referências são sobre Cuba e o Brasil. É um clássico pioneiro dos estudos sobre escravidão.

Rights of Portugal, in reference to Great Britain and the question of the slave trade, or, the manifesto and protest of the weak, against the ingratitude, oppression, and violence of the strong ...

Enquanto os políticos e diplomatas polemizavam e agiam, Thomas Buxton publicava, depois de viajar ao Brasil e ao Caribe, o mais completo levantamento sobre o tráfico negreiro jamais feito até então.

International trade in live, ornamental "fish" in the US & Florida

The importance of international markets as a source of live, ornamental “fish” supply is growing due to more stringent wild-harvest regulations in Florida. In addition, foreign markets are increasing in importance as a source of demand for Florida purveyors of live, ornamental “fish”. Florida plays an important role in this growing international market. Trends in imports and exports of live, ornamental “fish” are described for two primary data sets: U.S. Customs and U.S. Fish and Wildlife Service. These trends are described primarily for the 1994-98 period for Florida and the United States. Florida imports and exports are described for the two major ports: Miami and Tampa. The most important trading countries are also described. This information will help Florida purveyors of live, ornamental “fish” better understand the international markets upon which they have become more dependent. (PDF has 18 pages)

Improvements to Data Collection in Commercial Fisheries Using Electronic Reporting Methods: Cost/Efficiency and Implications for Use in Ecosystem Management.

Data have been collected on fisheries catch and effort trends since the latter half of the 1800s. With current trends in declining stocks and stricter management regimes, data need to be collected and analyzed over shorter periods and at finer spatial resolution than in the past. New methods of electronic reporting may reduce the lag time in data collection and provide more accurate spatial resolution. In this study I evaluated the differences between fish dealer and vessel reporting systems for federal fisheries in the US New England and Mid-Atlantic areas. Using data on landing date, report date, gear used, port landed, number of hauls, number of fish sampled and species quotas from available catch and effort records I compared dealer and vessel electronically collected data against paper collected dealer and vessel data to determine if electronically collected data are timelier and more accurate. To determine if vessel or dealer electronic reporting is more useful for management, I determined differences in timeliness and accuracy between vessel and dealer electronic reports. I also compared the cost and efficiency of these new methods with less technology intensive reporting methods using available cost data and surveys of seafood dealers for cost information. Using this information I identified potentially unnecessary duplication of effort and identified applications in ecosystem-based fisheries management. This information can be used to guide the decisions of fisheries managers in the United States and other countries that are attempting to identify appropriate fisheries reporting methods for the management regimes under consideration. (PDF contains 370 pages)

Dealing with Energy-QoE Trade-Offs in Mobile Video

Scalable video coding allows an efficient provision of video services at different quality levels with different energy demands. According to the specific type of service and network scenario, end users and/or operators may decide to choose among different energy versus quality combinations. In order to deal with the resulting trade-off, in this paper we analyze the number of video layers that are worth to be received taking into account the energy constraints. A single-objective optimization is proposed based on dynamically selecting the number of layers, which is able to minimize the energy consumption with the constraint of a minimal quality threshold to be reached. However, this approach cannot reflect the fact that the same increment of energy consumption may result in different increments of visual quality. Thus, a multiobjective optimization is proposed and a utility function is defined in order to weight the energy consumption and the visual quality criteria. Finally, since the optimization solving mechanism is computationally expensive to be implemented in mobile devices, a heuristic algorithm is proposed. This way, significant energy consumption reduction will be achieved while keeping reasonable quality levels.