Formal specification of multi-agent e-barter systems

We provide a formal language, based on classical process algebras, for specifying and analyzing e-barter systems. We also study properties of e-barter systems represented in our notation. In particular, we show that the final distribution of goods in a hierarchical e-barter system is a Pareto optimum. In other words, we will be able to prove that economic efficiency is not lost by considering our hierarchical structure instead of a single market.