A Conceptual Framework for Modeling Automated Negotiations in Multiagent Systems

In fully automated e‐negotiation all involved parties are software agents, so negotiation takes place in a multiagent system between software agents that have been developed as a computer system for automating tasks in a specific application domain. A multiagent system is a group of agents that interact and cooperate with each other to fulfill their objectives or to improve their performance. How do these agents negotiate with each other to manage their task interdependencies? What negotiation mechanisms are needed? These are important questions. In this article, we present a conceptual framework for modeling and developing automated negotiation systems. This framework represents and specifies all the necessary concepts and entities for developing a negotiation system as well as the relationships among these concepts. This framework can also be used to model human negotiations scenarios for analyzing these types of negotiations and simulating them with multiagent systems. The work reported in this article is the first unified framework that represents all the needed elements for modeling and developing automated negotiation systems and existing relationships between them.     

Impact of microcredit on income,poverty, and economic vulnerability in Peninsular Malaysia

This article examines the effect of Amanah Ikhtiar Malaysia's (AIM) microcredit programme on low-income households' income, poverty rate, and vulnerability in Peninsular Malaysia. This study employed a quasi-experimental approach, cross-sectional design, and stratified random sampling method. Findings indicated that participation in AIM's microcredit programme leads to an increase in household income and reduces both the poverty rate and level of economic vulnerability. AIM and policymakers, therefore, should focus on promoting a supportive environment to improve cooperation among participants by designing a dynamic and well-diversified microfinance programme and specialised skills-building training programme.     

An empirical testing of informational efficiency in Bangladesh capital market

We investigate how efficiently the stock market participants incorporate the information contained in money supply changes into stock prices in an emerging economy like Bangladesh. Of particular interest is to test how the changes in monetary aggregates directly affect the stock prices through asset changes and indirectly through their effects on real economic activity. We have considered the monthly series of the real stock returns (P) and examine the relationship between stock returns and monetary aggregates from 1980 to 2008. We also include the exchange rate of US dollar against Bangladeshi Taka and industrial production index. The presence of cointegration between stock prices and monetary aggregates indicate long-run predictability of the Bangladesh stock market. The short-run dynamics between monetary aggregates and real stock return, relied on theoretically motivated long-run restrictions, are analyzed using an empirical structural VAR model. The dynamic response of the real stock returns to changes in macroeconomic variables (such as broad money supply, exchange rates), particularly its lagged responses to real economic activity generates inefficiency in the Dhaka Stock Exchange. The findings of this article indicate that informational inefficiency exists in the stock market of Bangladesh due to the presence of unidirectional causality. To be efficient, the infrastructure of the SEC should be modernized, revaluation of the net asset value of the companies should be audited by the affiliated firms of the SEC, demutualization should be done as early as possible, private placement, issue of preference share and book building methods must be under rule based. Insider trading should be strictly prohibited.     

Politics of administrative reform and reorganization in Bangladesh

The present military government in Bangladesh has implemented a number of major administrative reform and reorganization measures. The government claims that effectuation of such measures has led to the decentralization of power and authority to the grass-root level ensuring increasing popular participation in administration; the achievement of cost-effectiveness by reducing the number of ministries, divisions and personnel from the public pay roll and by quickening of the pace of decision-making due to elimination of redundant bureaucratic layers. But the implementation, in reality, has contributed among other things to the legitimization and strengthening of the military government, and a weakening of the democratically organized political opposition. It also enables generalist civil servants to preserve, and to some extent strengthen, their position within the civil service system.     

Strategic port classification: International clustering‐based approach for decision‐making optimization

This comprehensive study aims to identify from a strategic perspective a new port classification approach based on port features and characteristics. Data of 3,685 ports worldwide have been collected, and 25 dimensions with 62 factors have been identified and utilized to analyze and classify ports worldwide. The K‐means clustering technique has been utilized to conduct the port classification process at several levels. First, ports have been classified into two general clusters (low capabilities and moderate‐to‐high capabilities). Then only ports with moderate‐to‐high potentials were classified and taxonomized. In addition to identifying and classifying ports with moderate‐to‐high capabilities, findings of the second round demonstrate the existence of three main clusters. The new port classification has been used to provide new insights about the top 50 terminal ports as a real case study. This innovative approach is valuable for most port‐related decision‐making situations and facilitates the global supply chain management processes.