This paper develops a theory of financial intermediation based on minimizing the cost of monitoring information which is useful for resolving incentive problems between borrowers and lenders. It presents a characterization of the costs of providing incentives for delegated monitoring by a financial

Abstract-Instrumenting the physical world through large networks of wireless sensor nodes, particularly for applications like environmental monitoring of water and soil, requires that these nodes be very small, light, untethered and unobtrusive. The problem of localization, i.e., determining where

studies have been published reporting Internet backbone traffic usage and characteristics. At MCI, we have implemented a high-performance, low-cost monitoring system that can capture traffic and perform analyses. We have deployed this monitoring tool on OC-3 trunks within internetMCI’s backbone and also

and rectal temperature and electrocardiogram were monitored. Blood was periodically sampled from the femoral artery and blood gas concentrations were measured with a Radiometer model ABL330 gas analyzer. Blood glucose was estimated using a Boehringer-Mannheim AccuCheck Ilm. To measure

Our central proposition is that monitoring costs increase with physical distance, and hence, direct investments located further from the foreign investor’s home base should be more likely formed as joint ventures. Tests on a data set of Taiwanese direct investments in Mainland China provide robust

lecs.cs.ucla.edu As new fabrication and integration technologies reduce the cost and size of micro-sensors and wireless interfaces, it becomes feasible to deploy densely distributed wireless networks of sensors and actuators. These systems promise to revolutionize biological, earth

We present a model in which monitoring costs determine firms ’ outsourcing and offshoring decisions. We predict that the most productive firms outsource in the South, while the least productive produce in-house in the North. Within the range of intermediate productivities, firms with lower

Advances in microsensor and radio technology will enable small but smart sensors to be deployed for a wide range of environmental monitoring applications. The low per-node cost will allow these wireless networks of sensors and actuators to be densely distributed. The nodes in these dense networks

program. Paradyn controls its instrumentation overhead by monitoring the cost of its data collection, limiting its instrumentation to a (user controllable) threshold. The instrumentation in Paradyn can easily be configured to accept new operating system, hardware, and application specific performance data

Using a simple job market equilibrium model we study the relationship between work effort and monitoring by firms. Some other determinants of work effort investigated include the educational level of the worker, the minimum or start-up salary as well as the economic conjuncture. As common logic