Virtual power plant auctions

International Nuclear Information System (INIS)

Ausubel, Lawrence M.; Cramton, Peter

2010-01-01

Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets. (author)

Virtual power plant auctions

Energy Technology Data Exchange (ETDEWEB)

Ausubel, Lawrence M.; Cramton, Peter [Department of Economics, University of Maryland, College Park, MD 20742 (United States)

2010-12-15

Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets. (author)

A new quantum sealed-bid auction protocol with secret order in post-confirmation

Science.gov (United States)

Wang, Jing-Tao; Chen, Xiu-Bo; Xu, Gang; Meng, Xiang-Hua; Yang, Yi-Xian

2015-10-01

A new security protocol for quantum sealed-bid auction is proposed to resist the collusion attack from some malicious bidders. The most significant feature of this protocol is that bidders prepare their particles with secret order in post-confirmation for encoding bids. In addition, a new theorem and its proof are given based on the theory of combinatorial mathematics, which can be used as evaluation criteria for the collusion attack. It is shown that the new protocol is immune to the collusion attack and meets the demand for a secure auction. Compared with those previous protocols, the security, efficiency and availability of the proposed protocol are largely improved.

The US SO2 AUCTION: A policy recommendation for future auctions

International Nuclear Information System (INIS)

Christensen, J.L.; Thinggaard Svendsen, G.

1998-01-01

An annual discriminative and revenue-neutral auction is linked to the new Acid Rain Program which allows electric utilities all over the US to trade SO2 emission permits. This innovative SO2 auction distributes 2% of the permits in circulation and takes place at the Chicago Board of Trade. Early results showed that the auction generated a clearing price signal lower than the market price. Now the auction price seems to be determined by the outside market price. Still, in the important starting phase, a non-discriminative auction design would probably have generated better price signals since potentially severe downward biases in both seller price offers and buyer bids are due to the discriminative feature of the EPA auction. (au) 30 refs

The institutionalization of treasury note and bond auctions, 1970-75

OpenAIRE

Kenneth D. Garbade

2004-01-01

The substitution of auctions for fixed-price offerings was expected to lower the U.S. Treasury's cost of financing the federal debt. Despite this and other potential benefits, the Treasury failed in both 1935 and 1963 in its attempts to introduce regular auction sales of coupon-bearing securities. This article examines the Treasury's third and successful attempt between 1970 and 1975. The author identifies three likely reasons why the Treasury succeeded in the early 1970s: it closely imitated...

Hybrid keyword search auctions

KAUST Repository

Goel, Ashish

2009-01-01

Search auctions have become a dominant source of revenue generation on the Internet. Such auctions have typically used per-click bidding and pricing. We propose the use of hybrid auctions where an advertiser can make a per-impression as well as a per-click bid, and the auctioneer then chooses one of the two as the pricing mechanism. We assume that the advertiser and the auctioneer both have separate beliefs (called priors) on the click-probability of an advertisement. We first prove that the hybrid auction is truthful, assuming that the advertisers are risk-neutral. We then show that this auction is superior to the existing per-click auction in multiple ways: 1. We show that risk-seeking advertisers will choose only a per-impression bid whereas risk-averse advertisers will choose only a per-click bid, and argue that both kind of advertisers arise naturally. Hence, the ability to bid in a hybrid fashion is important to account for the risk characteristics of the advertisers. 2. For obscure keywords, the auctioneer is unlikely to have a very sharp prior on the click-probabilities. In such situations, we show that having the extra information from the advertisers in the form of a per-impression bid can result in significantly higher revenue. 3. An advertiser who believes that its click-probability is much higher than the auctioneer\\'s estimate can use per-impression bids to correct the auctioneer\\'s prior without incurring any extra cost. 4. The hybrid auction can allow the advertiser and auctioneer to implement complex dynamic programming strategies to deal with the uncertainty in the click-probability using the same basic auction. The per-click and per-impression bidding schemes can only be used to implement two extreme cases of these strategies. As Internet commerce matures, we need more sophisticated pricing models to exploit all the information held by each of the participants. We believe that hybrid auctions could be an important step in this direction. The

The US SO{sub 2} AUCTION: A policy recommendation for future auctions

Energy Technology Data Exchange (ETDEWEB)

Christensen, J.L.; Thinggaard Svendsen, G

1998-07-01

An annual discriminative and revenue-neutral auction is linked to the new Acid Rain Program which allows electric utilities all over the US to trade SO2 emission permits. This innovative SO2 auction distributes 2% of the permits in circulation and takes place at the Chicago Board of Trade. Early results showed that the auction generated a clearing price signal lower than the market price. Now the auction price seems to be determined by the outside market price. Still, in the important starting phase, a non-discriminative auction design would probably have generated better price signals since potentially severe downward biases in both seller price offers and buyer bids are due to the discriminative feature of the EPA auction. (au) 30 refs.

The US SO{sub 2} AUCTION: A policy recommendation for future auctions

Energy Technology Data Exchange (ETDEWEB)

Christensen, J.L.; Thinggaard Svendsen, G.

1998-12-31

An annual discriminative and revenue-neutral auction is linked to the new Acid Rain Program which allows electric utilities all over the US to trade SO2 emission permits. This innovative SO2 auction distributes 2% of the permits in circulation and takes place at the Chicago Board of Trade. Early results showed that the auction generated a clearing price signal lower than the market price. Now the auction price seems to be determined by the outside market price. Still, in the important starting phase, a non-discriminative auction design would probably have generated better price signals since potentially severe downward biases in both seller price offers and buyer bids are due to the discriminative feature of the EPA auction. (au) 30 refs.

Hybrid keyword search auctions

KAUST Repository

Goel, Ashish; Munagala, Kamesh

2009-01-01

Search auctions have become a dominant source of revenue generation on the Internet. Such auctions have typically used per-click bidding and pricing. We propose the use of hybrid auctions where an advertiser can make a per-impression as well as a per-click bid, and the auctioneer then chooses one of the two as the pricing mechanism. We assume that the advertiser and the auctioneer both have separate beliefs (called priors) on the click-probability of an advertisement. We first prove that the hybrid auction is truthful, assuming that the advertisers are risk-neutral. We then show that this auction is superior to the existing per-click auction in multiple ways: 1. We show that risk-seeking advertisers will choose only a per-impression bid whereas risk-averse advertisers will choose only a per-click bid, and argue that both kind of advertisers arise naturally. Hence, the ability to bid in a hybrid fashion is important to account for the risk characteristics of the advertisers. 2. For obscure keywords, the auctioneer is unlikely to have a very sharp prior on the click-probabilities. In such situations, we show that having the extra information from the advertisers in the form of a per-impression bid can result in significantly higher revenue. 3. An advertiser who believes that its click-probability is much higher than the auctioneer's estimate can use per-impression bids to correct the auctioneer's prior without incurring any extra cost. 4. The hybrid auction can allow the advertiser and auctioneer to implement complex dynamic programming strategies to deal with the uncertainty in the click-probability using the same basic auction. The per-click and per-impression bidding schemes can only be used to implement two extreme cases of these strategies. As Internet commerce matures, we need more sophisticated pricing models to exploit all the information held by each of the participants. We believe that hybrid auctions could be an important step in this direction. The hybrid

Essays in auction theory

NARCIS (Netherlands)

Maasland, E.

2012-01-01

Auction theory is a branch of game theory that considers human behavior in auction markets and the ensuing market outcomes. It is also successfully used as a tool to design real-life auctions. This thesis contains five essays addressing a variety of topics within the realm of auction theory. The

Declarative Specification of Fault Tolerant Auction Protocols: The English Auction Case Study

DEFF Research Database (Denmark)

Dragoni, Nicola; Gaspari, Mauro

2012-01-01

Auction mechanisms are nowadays widely used in electronic commerce Web sites for buying and selling items among different users. The increasing importance of auction protocols in the negotiation phase is not limited to online marketplaces. In fact, the wide applicability of auctions as resource‐a...... about the specification of an English Auction protocol which tolerate crashes of bidding agents and we discuss its properties....

Auction game in electric power market place

International Nuclear Information System (INIS)

Kumar, J.; Sheble, G.

1996-01-01

The power industry in the US is presently an evolving changing business environment. While planning to meet future peak demand is still a concern, the efficient utilization of existing generation and transmission resources is fast becoming a primary interest. This interest suggests a move from cost-based market operations to price based market operations. Auction market structure is one of the various ways to perform price based operation. Such a market place would be very new and challenging to all players of the electric power industry. This paper describes an overview of the new business environment. The paper presents a detailed description of the auction game. The trading objectives in the bidding game are defined. The framework of auction process is described by defining the rules to play the game. Finally, strategies for market players are discussed

Auctions and energy networks

International Nuclear Information System (INIS)

Helm, D.

2003-01-01

This article compares and contrasts the traditional planning approach to network investment, the regulatory treatment of capital expenditure within RPI-X price-cap regulation, and the use of auctions. It shows why auctions may be helpful in allocating existing capacity, but can only play a limited role in identifying future investment needs. Auctions cannot determine optimal investment. The application of auctions in the 2001 Transco price review is criticised and an alternative approach proposed. (Author)

A robust internet-based auction to procure electricity forwards

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd, D.; Borden, M.; Warrington, R.; Baskette, C.

2004-01-01

Securing forward contracts to manage procurement-cost risk is an intuitively appealing and economically reasonable strategy for a load-serving local distribution company (LDC) in today's volatile electricity marketplace. However, knowing what to buy does not guarantee least-cost implementation. The forward-contract price quoted by a prospective seller may not be the 'best deal' that an LDC could have obtained, especially when the forward contract desired by the LDC is not actively traded. This paper reports the results from five internet-based auctions for electricity forward contracts with non-firm delivery and varying hourly quantities held monthly by a Florida municipal utility (MU) from September 2002 to January 2003. The results confirm that a multi-round auction design is robust in realizing competitive price offers made by credit-worthy sellers, time-efficient contracting, and consistent cost savings to the MU. Thus, the Anglo-Dutch auction described herein is a reasonable substitute for generation ownership by an LDC. (author)

Papers in auction theory

NARCIS (Netherlands)

Onderstal, A.M.

2002-01-01

This thesis is a collection of six papers in auction theory, with several economic applications, both to real life auctions and to other economic phenomena. In the introduction to the thesis, Onderstal argues why auction theory is an important branch of economic theory, and discusses several

The USSO2 Auction

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Christensen, J.L.

1999-01-01

results showed that the auction generated a clearing price signal lower than the market price. Now the auction price seems to be determined by the outside market price. Still, in the important starting phase, a non-discriminative auction design would probably have generated better price signals since...

Web Auctions in Europe

NARCIS (Netherlands)

A. Pouloudi; J. Paarlberg; H.W.G.M. van Heck (Eric)

2001-01-01

textabstractThis paper argues that a better understanding of the business model of web auctions can be reached if we adopt a broader view and provide empirical research from different sites. In this paper the business model of web auctions is refined into four dimensions. These are auction model,

Auction Sale Data

Data.gov (United States)

General Services Administration — This dataset contains sale data information for Agency reported items sold via GSA Auctions® Sales. The data is for closed sales during FY2009. GSA Auctions® offers...

Auction design for gas pipeline transportation capacity-The case of Nabucco and its open season

International Nuclear Information System (INIS)

Pickl, Matthias; Wirl, Franz

2011-01-01

As a response to the Russian dominance of the EU's natural gas supplies and the EU's increasing gas demands, major gas pipeline projects are currently under way to enhance the EU's energy supply security. Oftentimes to raise financing and to allocate gas transportation capacities, auctions are carried out to allow gas shippers to book transportation rights. In recent years, auctions have emerged as one of the most successful allocation mechanisms in the microeconomic theory. However, different auction designs can lead to different outcomes making the choice of auction design a decisive one, especially for divisible-good auctions. This paper seeks to give a formulation of an optimal auction design for gas pipeline transportation capacity. Specifically three different mechanisms are tested: (i) NPV allocation; (ii) pro rata allocation; and (iii) optimization. In addition, Nabucco is taken as a case study to empirically show results of such auction designs. Results show that a trade-off between revenue optimization and fair allocation can be observed: allocation per optimization is the favorable auction design when revenue maximization is more important than fair allocation. On the other hand, pro rata allocation is the auction design to be chosen when fairness of allocation is considered most central. - Research highlights: → Auction design for gas pipeline transportation capacity. → Empirical market-survey of Nabucco pipeline project auction as input data. → Testing of three different allocation mechanisms: (i) NPV allocation; (ii) pro rata allocation; and (iii) optimization. → Results show a trade-off between revenue optimization and fair allocation. → Allocation per optimization is the favorable auction design when revenue maximization is more important than fair allocation. → On the other hand, pro rata allocation is the auction design to be chosen when fairness of allocation is considered most central.

Dynamic spectrum auction in wireless communication

CERN Document Server

Chen, Yanjiao

2015-01-01

This brief explores current research on dynamic spectrum auctions, focusing on fundamental auction theory, characteristics of the spectrum market, spectrum auction architecture and possible auction mechanisms. The brief explains how dynamic spectrum auctions, which enable new users to gain spectrum access and existing spectrum owners to obtain financial benefits, can greatly improve spectrum efficiency by resolving the artificial spectrum shortage. It examines why operators and users face significant challenges due to specialty of the spectrum market and the related requirements imposed on the auction mechanism design. Concise and up-to-date, Dynamic Spectrum Auction in Wireless Communication is designed for researchers and professionals in computer science or electrical engineering. Students studying networking will also find this brief a valuable resource.

Auctioning incentive contracts: an experimental study

NARCIS (Netherlands)

Onderstal, S.; van de Meerendonk, A.

2009-01-01

In this note, we experimentally examine the relative performance of price-only auctions and multi-attribute auctions. We do so in procurement settings where the buyer can give the winning bidder incentives to exert effort on non-price dimensions after the auction. Both auctions theoretically

Discovering the game in auctions

NARCIS (Netherlands)

Kaisers, M.; Tuyls, K.P.; Thuijsman, F.; Parsons, S.; Nijholt, A.; Pantic, M.

2008-01-01

Auctions are pervasive in today’s society. They provide a variety of markets, ranging from consumer-toconsumer online auctions to government-to-business auctions for telecommunications spectrum licenses. Starting from a set of trading strategies, this article enables a strategic choice by

China's Land Market Auctions: Evidence of Corruption?

Science.gov (United States)

Cai, Hongbin; Henderson, J Vernon; Zhang, Qinghua

2013-01-01

This paper studies the urban land market in China in 2003-2007. In China, all urban land is owned by the state. Leasehold use rights for land for (re)development are sold by city governments and are a key source of city revenue. Leasehold sales are viewed as a major venue for corruption, prompting a number of reforms over the years. Reforms now require all leasehold rights be sold at public auction. There are two main types of auction: regular English auction and an unusual type which we call a "two stage auction". The latter type of auction seems more subject to corruption, and to side deals between potential bidders and the auctioneer. Absent corruption, theory suggests that two stage auctions would most likely maximize sales revenue for properties which are likely to have relatively few bidders, or are "cold", which would suggest negative selection on property unobservables into such auctions. However, if such auctions are more corruptible, that could involve positive selection as city officials divert hotter properties to a more corruptible auction form. The paper finds that, overall, sales prices are lower for two stage auctions, and there is strong evidence of positive selection. The price difference is explained primarily by the fact that two stage auctions typically have just one bidder, or no competition despite the vibrant land market in Chinese cities.

40 CFR 73.73 - Delegation of auctions and sales and termination of auctions and sales.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 16 2010-07-01 2010-07-01 false Delegation of auctions and sales and termination of auctions and sales. 73.73 Section 73.73 Protection of Environment ENVIRONMENTAL PROTECTION... Independent Power Producers Written Guarantee § 73.73 Delegation of auctions and sales and termination of...

40 CFR 73.70 - Auctions.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 16 2010-07-01 2010-07-01 false Auctions. 73.70 Section 73.70... ALLOWANCE SYSTEM Auctions, Direct Sales, and Independent Power Producers Written Guarantee § 73.70 Auctions... allowances pursuant to paragraph (c) of this section and § 73.72(q) in the amounts and at the times provided...

Auctions with competing sellers and behavioral bidders

NARCIS (Netherlands)

Delnoij, J.M.J.

2016-01-01

With the rise of the Internet, the use of auctions has become increasingly prevalent. Nowadays, consumers can buy a myriad of goods by means of online auctions – cars, holidays, clothing, sports items, electronics and even lab equipment are auctioned on the Internet. Economists have studied auctions

Network capacity auctions: promise and problems

International Nuclear Information System (INIS)

Newbery, David M.

2003-01-01

Well-designed auctions work favorably for allocating idiosyncratic properties efficiently. Auctions are used to allocate entry capacity for United Kingdom gas and inter-connector capacity for electricity in several European Union countries and can work well for allocating existing capacity, though careful auction design is needed to mitigate potential market power. Using auction prices to guide investment decisions in networks is problematic if bidders fear that sub-optimal investment will be compensated by regulatory fiat, lowering future capacity values. (Author)

Bidding behavior in a symmetric Chinese auction

Directory of Open Access Journals (Sweden)

Mauricio Benegas

2015-01-01

Full Text Available This paper purposes a symmetric all-pay auction where the bidders compete neither for an object nor the object itself but for a lottery on receive. That lottery is determined endogenously through the bids. This auction is known as chance auction or more popularly as Chinese auction. The model considers the possibility that for some bidders the optimal strategy is to bid zero and to rely on luck. It showed that bidders become less aggressive when the lottery satisfies a variational condition. It was also shown that luck factor is decisive to determine if the expected payoff in Chinese auction is bigger or smaller than expected payoff in standard all-pay auction.

Carbon allowance auction design of China's emissions trading scheme: A multi-agent-based approach

International Nuclear Information System (INIS)

Tang, Ling; Wu, Jiaqian; Yu, Lean; Bao, Qin

2017-01-01

In this paper, a multi-agent-based ETS simulation model is proposed for carbon allowance auction design in China. In the proposed model, two main agents, i.e., the government (the ETS implementer) and the firms in different sectors (the ETS targets), are considered. Under the ETS policy, all agents make various decisions individually according to their own goals, and interact with each other through three main markets: the commodity market, the primary carbon auction market and the secondary carbon trading market. Different popular auction designs are introduced into the ETS formulation to offer helpful insights into China's ETS design. (1) Generally, the ETS would lead to positive effects on China's carbon mitigation and energy structure improvement, but a negative impact on economy. (2) As for auction forms, the uniform-price design is relatively moderate, while the discriminative-price design is quite aggressive in both economic damage and emissions reduction. (3) As for carbon price, the uniform-price auction might generate a slightly higher market clearing price than the discriminative-price auction, and the prices under two auction rules fluctuate about RMB 40 per metric ton. (4) As for carbon cap, the total allowances in the carbon auction market should be carefully set to well balance economic growth and mitigation effect. - Highlights: • A multi-agent-based model is proposed for China's emissions trading scheme (ETS). • Two main economic agents are included: government and firms in different sectors. • Auction-based allocation for initial carbon allowances is especially investigated. • Economic and environmental impacts of different auction designs are analyzed. • Results confirm the validity of the model and give helpful insights into ETS design.

31 CFR 356.20 - How does the Treasury determine auction awards?

Science.gov (United States)

2010-07-01

... yields or discount rates through successively higher yields or discount rates, up to the amount required... discount rate as described below. If the amount of noncompetitive bids would absorb most or all of the... the yield or discount rate for the securities we are auctioning. (2) Accepting bids at the high yield...

7 CFR 1955.148 - Auction sales.

Science.gov (United States)

2010-01-01

... complexity of the sale. When the services of a professional auctioneer are advisable, the services will be... 7 Agriculture 14 2010-01-01 2009-01-01 true Auction sales. 1955.148 Section 1955.148 Agriculture... REGULATIONS (CONTINUED) PROPERTY MANAGEMENT Disposal of Inventory Property General § 1955.148 Auction sales...

Exploring Online Auction Behaviors and Motivations

Science.gov (United States)

Jeon, Sua; Crutsinger, Christy; Kim, Haejung

2008-01-01

The availability and convenience of the Internet, combined with the variety of products available at any given time, have contributed to the success of online auctions.This exploratory study examined online auction behaviors among college students in an attempt to identify underlying dimensions of auction motivations. Questionnaires completed by…

Auction-based bandwidth allocation in the Internet

Science.gov (United States)

Wei, Jiaolong; Zhang, Chi

2002-07-01

It has been widely accepted that auctioning which is the pricing approach with minimal information requirement is a proper tool to manage scare network resources. Previous works focus on Vickrey auction which is incentive compatible in classic auction theory. In the beginning of this paper, the faults of the most representative auction-based mechanisms are discussed. And then a new method called uniform-price auction (UPA), which has the simplest auction rule is proposed and it's incentive compatibility in the network environment is also proved. Finally, the basic mode is extended to support applications which require minimum bandwidth guarantees for a given time period by introducing derivative market, and a market mechanism for network resource allocation which is predictable, riskless, and simple for end-users is completed.

Effects of Suboptimal Bidding in Combinatorial Auctions

Science.gov (United States)

Schneider, Stefan; Shabalin, Pasha; Bichler, Martin

Though the VCG auction assumes a central place in the mechanism design literature, there are a number of reasons for favoring iterative combinatorial auction designs. Several promising ascending auction formats have been developed throughout the past few years based on primal-dual and subgradient algorithms and linear programming theory. Prices are interpreted as a feasible dual solution and the provisional allocation is interpreted as a feasible primal solution. iBundle( 3) (Parkes and Ungar 2000), dVSV (de Vries et al. 2007) and the Ascending Proxy auction (Ausubel and Milgrom 2002) result in VCG payoffs when the coalitional value function satisfies the buyer submodularity condition and bidders bid straightforward, which is an expost Nash equilibrium in that case. iBEA and CreditDebit auctions (Mishra and Parkes 2007) do not even require the buyer submodularity condition and achieve the same properties for general valuations. In many situations, however, one cannot assume bidders to bid straightforward and it is not clear from the theory how these non-linear personalized price auctions (NLPPAs) perform in this case. Robustness of auctions with respect to different bidding behavior is therefore a critical issue for any application. We have conducted a large number of computational experiments to analyze the performance of NLPPA designs with respect to different bidding strategies and different valuation models. We compare the results of NLPPAs to those of the VCG auction and those of iterative combinatorial auctions with approximate linear prices, such as ALPS (Bichler et al. 2009) and the Combinatorial Clock auction (Porter et al. 2003).

China’s Land Market Auctions: Evidence of Corruption?

Science.gov (United States)

Cai, Hongbin; Henderson, J. Vernon; Zhang, Qinghua

2013-01-01

This paper studies the urban land market in China in 2003—2007. In China, all urban land is owned by the state. Leasehold use rights for land for (re)development are sold by city governments and are a key source of city revenue. Leasehold sales are viewed as a major venue for corruption, prompting a number of reforms over the years. Reforms now require all leasehold rights be sold at public auction. There are two main types of auction: regular English auction and an unusual type which we call a “two stage auction”. The latter type of auction seems more subject to corruption, and to side deals between potential bidders and the auctioneer. Absent corruption, theory suggests that two stage auctions would most likely maximize sales revenue for properties which are likely to have relatively few bidders, or are “cold”, which would suggest negative selection on property unobservables into such auctions. However, if such auctions are more corruptible, that could involve positive selection as city officials divert hotter properties to a more corruptible auction form. The paper finds that, overall, sales prices are lower for two stage auctions, and there is strong evidence of positive selection. The price difference is explained primarily by the fact that two stage auctions typically have just one bidder, or no competition despite the vibrant land market in Chinese cities. PMID:25506125

Advantaged Bidders in Franchise Auctions

OpenAIRE

van den Berg, V.A.C.

2012-01-01

Consider a government that auctions a franchise for, e.g., an airport, telecommunication network, or utility. Consider an 'incumbent bidder' that owns a complement or substitute. With an auction on the transfer (i.e. payment) to the government, the incumbent is advantaged.If the government regulates the market with an auction on the price asked to consumers, it depends who is advantaged. With complements, the incumbent is advantaged: it can set a lower price on the new franchise, as this inc...

77 FR 38803 - Mobility Fund Phase I Auction Updated Data For Auction 901

Science.gov (United States)

2012-06-29

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 12-25; DA 12-990] Mobility Fund Phase I Auction... files of census blocks eligible for the Mobility Fund Phase I support to be offered in Auction 901... 32092, May 31, 2012, the Bureaus described how they identified census blocks eligible for the Mobility...

Experiences with auctions for renewable energy support

DEFF Research Database (Denmark)

Mora Alvarez, David Fernando; Islam, Marco; Soysal, Emilie Rosenlund

2017-01-01

Auctions is an increasingly popular instrument for introducing competitiveness in the support schemes for renewable energy, however, designing successful auctions appears to be a challenge. Policy makers seeking to introduce auctions are faced with a range of design choices, which may affect...

Auctions of capacity in network industries

International Nuclear Information System (INIS)

Stern, J.; Turvey, R.

2003-01-01

This paper provides an introduction to the key issues arising for auctions of network capacity including (i) the ability of auctions to handle long-run capacity expansion issues as well as short run capacity allocation; (ii) the definition of 'capacity' on networks; (iii) auction revenues and revenue reallocation to regulated network operators; and (iv) alternative market-based mechanisms to provide signals for capacity expansion. The paper covers some simple analytics before introducing various complications such as the use of auctions in complex networks. The paper discusses implications and provides a context within which to consider the other papers in this issue of Utilities Policy. (Author)

Auction design for the wireless spectrum market

CERN Document Server

Lin, Peng; Zhang, Qian

2014-01-01

This Brief introduces the wireless spectrum market and discusses the current research for spectrum auctions. It covers the unique properties of spectrum auction, such as interference relationship, reusability, divisibility, composite effect and marginal effect, while also proposing how to build economic incentives into the network architecture and protocols in order to optimize the efficiency of wireless systems.Three scenarios for designing new auctions are demonstrated. First, a truthful double auction scheme for spectrum trading considering both the heterogeneous propagation properties of c

Auction-theoretic analyses of the first offshore wind energy auction in Germany

Science.gov (United States)

Kreiss, J.; Ehrhart, K.-M.; Hanke, A.-K.

2017-11-01

The first offshore wind energy auction in Germany led to a striking result. The average award price was 0.44 ct/kWh and even more interesting, 3 out of 4 awarded projects had a strike price of 0.0 ct/kWh. That implies that those projects will only receive the actual wholesale market price for electricity as revenue. Although there has been a strong decline in costs of offshore wind projects, such a result is still surprising. We analyzed this result auction-theoretically and showed how the auction design and the market environment can explain part of the outcome. However, another aspect of the explanation is the high risk that the awarded bidders take regarding the future development of both the project costs and the wholesale market price.

Liquidity Shocks, Market Maker Turnover, and Bidding Behavior in Treasury Auctions

DEFF Research Database (Denmark)

Gonzalez-Eiras, Martin; Rudiger, Jesper

2017-01-01

aggressively. They also bid more aggressively for existing securities that are reissued when the regulation tightens the requirements for secondary market participation. Consistent with regulations which imply that auctioned securities are not a prime source of liquidity, we find that banks which face...... liquidity needs bid less aggressively for them. A novel implication of our results is that in institutional settings that feature turnover of market makers, bidding behavior should be modeled in a dynamic setting. We introduce a dynamic model and show that static estimates over-predict true valuations when...

Reserve price: Lessons learned from Brazilian electricity procurement auctions

International Nuclear Information System (INIS)

Rego, Erik Eduardo

2013-01-01

Auctions have been used in several formats in the electric energy industry. In general, regulators may be uncomfortable initiating a reverse auction at a higher-than-expected final price, fearing that participants may sell their energy at an excess profitability. Nevertheless, evidence from electricity procurement auctions conducted in Brazil supports the findings that these types of auctions have the opposite effect. By attracting a larger number of agents, these auctions can trigger stronger competition and lead to lower settlement pricing. Accordingly, the Brazilian cases examined in this article present significant evidence to support this directional theory. In fact, there are some cases of electricity procurement auctions that show that inadequate auction reserve pricing leads to inefficient outcomes and may also cause the auction to fail. On the other hand, auctions with adequate price caps have led to lower final clearing prices, thus contributing to reasonable final energy pricing. - Highlights: • Outcomes from Brazilian electricity procurement auctions were analyzed. • Cases of success and frustration after adopting (in)adequate reserve prices. • Setting different price caps per source is inefficient. • Higher-than-normal price cap is more effective than fine-tuning reserve prices

Internet Auction Sellers: Does Size Really Matter?

Science.gov (United States)

Halstead, Diane; Becherer, Richard C.

2003-01-01

Examines the Internet auction phenomenon as it relates to the marketing mix of online auction sellers. The data indicate that, while there is great diversity among businesses that utilize online auctions, distinct cost leadership and differentiation marketing strategies are both evident. These two approaches are further distinguished in terms of…

Premium Auctions and Risk Preferences

NARCIS (Netherlands)

Hu, A.; Offerman, T.J.S.; Zou, L.

2010-01-01

In a premium auction, the seller offers some "pay back", called premium, to the highest bidders. This paper investigates how the performance of such premium tactic is related to the participant's risk preferences. By developing an English premium auction model with symmetric interdependent values,

Brazilian experience in electricity auctions: Comparing outcomes from new and old energy auctions as well as the application of the hybrid Anglo-Dutch design

International Nuclear Information System (INIS)

Rego, Erik Eduardo; Parente, Virginia

2013-01-01

Since 2004, the Government of Brazil (GoB) has acted as an intermediary between distribution and generator companies in the energy procurement sector. The GoB procures energy from generator companies through auctions of long-term energy contracts. After an auction, the winning generator companies sign contracts directly with distribution companies. In particular, the GoB runs two different auctions: one for energy from existing power plants (i.e., old energy) and another for energy from power plants that have not yet been built (i.e., new energy). This paper describes these auctions and compares the outcomes from the old and new energy auctions from 2004 to 2010 using final auction prices. The Brazilian case is particularly interesting, not only because energy is predominantly supplied by hydropower plants but also because new energy auctions reach prices below those for old energy. Therefore, it is likely that it is not necessary to run the two different energy auctions. As a secondary objective, this article analyze whether the Anglo-Dutch hybrid auction model is a better design for electricity procurement in Brazil. - Highlights: ► We analyze the outcomes from the Brazilian old and new energy auctions. ► We evaluate the Anglo-Dutch auction design. ► Outcomes from both kind of auctions reveal that the prices are statistically similar. ► One kind of auction increase competition and minimize Eletrobras' market power

The US SO2 Auction and Environmental Regulation

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Christensen, J.L.

1999-01-01

The US Acid Rain Program (ARP) is now well-established. The ARP relies on tradable permits and includes an annual revenue-neutral SO2 auction. Has this auction been an important factor in establishing low transaction costs and a successful market? In answering this question, we first compare...... the price signals from the SO2 auction to those found in the market. Second, we try to explain empirical outcomes by analyzing strategic incentives and the number of buyers and sellers in the auction. The policy recommendation is that the non-discriminative SO2 auction is a very useful tool for kick...

Spite and Reciprocity in Auctions

Directory of Open Access Journals (Sweden)

Yoshikazu Ikeda

2011-09-01

Full Text Available The paper presents a complete information model of bidding in second price sealed-bid and ascending-bid (English auctions, in which potential buyers know the unit valuation of other bidders and may spitefully prefer that their rivals earn a lower surplus. Bidders with spiteful preferences should overbid in equilibrium when they know their rival has a higher value than their own, and bidders with a higher value underbid to reciprocate the spiteful overbidding of the lower value bidders. The model also predicts different bidding behavior in second price as compared to ascending-bid auctions. The paper also presents experimental evidence broadly consistent with the model. In the complete information environment, lower value bidders overbid more than higher value bidders, and they overbid more frequently in the second price auction than in the ascending price auction. Overall, the lower value bidder submits bids that exceed value about half the time. These patterns are not found in the incomplete information environment, consistent with the model.

Worst-Case Cooperative Jamming for Secure Communications in CIoT Networks

Directory of Open Access Journals (Sweden)

Zhen Li

2016-03-01

Full Text Available The Internet of Things (IoT is a significant branch of the ongoing advances in the Internet and mobile communications. Yet, the use of a large number of IoT devices can severely worsen the spectrum scarcity problem. The usable spectrum resources are almost entirely occupied, and thus, the increasing demands of radio access from IoT devices cannot be met. To tackle this problem, the Cognitive Internet of Things (CIoT has been proposed. In a CIoT network, secondary users, i.e., sensors and actuators, can access the licensed spectrum bands provided by licensed primary users (such as cellular telephones. Security is a major concern in CIoT networks. However, the traditional encryption method at upper layers (such as symmetric and asymmetric ciphers may not be suitable for CIoT networks since these networks are composed of low-profile devices. In this paper, we address the security issues in spectrum-leasing-based CIoT networks using physical layer methods. Considering that the CIoT networks are cooperative in nature, we propose to employ cooperative jamming to achieve secure transmission. In our proposed cooperative jamming scheme, a certain secondary user is employed as the helper to harvest energy transmitted by the source and then uses the harvested energy to generate an artificial noise that jams the eavesdropper without interfering with the legitimate receivers. The goal is to minimize the Signal to Interference plus Noise Ratio (SINR at the eavesdropper subject to the Quality of Service (QoS constraints of the primary traffic and the secondary traffic. We formulate the minimization problem into a two-stage robust optimization problem based on the worst-case Channel State Information of the Eavesdropper (ECSI. By using Semi-Definite Programming (SDP, the optimal solutions of the transmit covariance matrices can be obtained. Moreover, in order to build an incentive mechanism for the secondary users, we propose an auction framework based on the

Auctions API

Data.gov (United States)

General Services Administration — GSA Auctions offers Federal personal property assets ranging from common place items (such as office equipment and furniture) to more select products like scientific...

The US SO2 Auction

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Christensen, Jan Lien

1998-01-01

An annual discriminative and revenue-neutral auction is linked to the new Acid Rain Program which allows electric utilities all over the US to trade SO2 emission permits. This innovative SO2 auction distributes 2% of the permits in circulation and takes place at the Chicago Board of Trade. Early...

License Auctions with Royalty Contracts for (Winners and) Losers

OpenAIRE

Wolfstetter, Elmar; Giebe, Thomas

2007-01-01

This paper revisits the licensing of a non–drastic process innovation by an outside innovator to a Cournot oligopoly. We propose a new mechanism that combines a restrictive license auction with royalty licensing. This mechanism is more profitable than standard license auctions, auctioning royalty contracts, fixed–fee licensing, pure royalty licensing, and two-part tariffs. The key features are that royalty contracts are auctioned and that losers of the auction are granted the option to si...

Auctioning emission permits in a leader-follower setting

OpenAIRE

Alvarez, Francisco; André, Francisco J.

2015-01-01

We analise emission permit auctions under leader-follower competition when the leader bids strategically and the follower acts as price-taker both at the auction and the secondary market. We obtain linear equilibrium bidding strategies for both firms and a unique equilibrium of the auction, which is optimal ex-post for the leader. Under specific distributional assumptions we conclude that the auction always awards less permits to the leader than the cost-effective amount. Our central result i...

The Role of Signals in Online Auction Purchase Decisions

Directory of Open Access Journals (Sweden)

Cypryjański Jacek

2015-06-01

Full Text Available There is a growing interest in behavioural economics contradicting the empirical prediction of rational choice theory once applied to online auctions. The issue is of particular relevance due to the large use of online auctions and the anticipated growth in the future. Online auctions combine the conventional auction model with information technology. However, information asymmetry within such auctions causes risks and uncertainties that influence consumer purchase intentions. The research investigates online consumers’ behaviour. The Authors suggest that due to the high perceived risk of the online buying process consumers are prompted to use cues of seller’ reputation. In a series of six experiments conducted via the auction site Allegro.pl in Poland a number of signals from auction web pages has been manipulated to influence purchase intention. The results suggest that several signals can be used to stimulate online customers’ behaviour. The results of these experiments indicate that buyers are more susceptible to the influence of “visual” signals than signals that require greater involvement of the buyer (to read information. The conducted experiments contribute to a more comprehensive understanding of online auction users’ behaviour. And finally it provides some managerial implications to increase online auction effectiveness from the seller’s perspective.

Static vs Dynamic Auctions with Ambiguity Averse Bidders

NARCIS (Netherlands)

Carvalho, M.

2012-01-01

Abstract: This paper presents the outcome of a dynamic price-descending auction when the distribution of the private values is uncertain and bidders exhibit ambiguity aversion. In contrast to sealed-bid auctions, in open auctions the bidders get information about the other bidders' private values

Auctions for Renewable Support in Denmark:Instruments and lessons learnt

DEFF Research Database (Denmark)

Kitzing, Lena; Wendring, Paul; Wigan, Fabian

This report deals with all past and ongoing auctions for renewable support in Denmark. Since 2004, five single-item, technology-specific offshore wind auctions were held, with one more currently ongoing. One multi-item, multi-site nearshore wind auction is currently ongoing.......This report deals with all past and ongoing auctions for renewable support in Denmark. Since 2004, five single-item, technology-specific offshore wind auctions were held, with one more currently ongoing. One multi-item, multi-site nearshore wind auction is currently ongoing....

The US SO2 Auction: Analysis and Generalization

DEFF Research Database (Denmark)

Svendsen, Gert Tinggaard; Christensen, J.L.

1999-01-01

results showed that the auction generated a clearing price signal lower than the market price. Now the auction price seems to be determined by the outside market price. Still, in the important starting phase, a non-discriminative auction design would probably have generated better price signals since...

Making uncompetitive auctions competitive: a survey of experiments

NARCIS (Netherlands)

Offerman, T.; Onderstal, S.; Hinloopen, J.; Normann, H.-T.

2009-01-01

In the past 15 years, governments around the world have often used auctions to sell scarce licenses to operate in markets. In many of these auctions, the number of interested competitors is relatively small compared to the number of available licenses. Auction design is crucial in such uncompetitive

To be or not to be an auctioneer: Some thoughts on the legal nature of online eBay auctions and the protection of consumers

OpenAIRE

Riefa, C

2008-01-01

This paper discusses the legal classification of online “eBay” auctions. The discussion has key implications on the scope of consumer protection law as sale by auctions are, for example, excluded from the scope of the Consumer Protection (Distance Selling) Regulations 2000. The paper uncovers that online “eBay” auctions cannot always be considered as traditional auctions and that eBay, as an intermediary, is not to be considered as an auctioneer. This creates difficulties associated with a di...

Multi-unit auctions with budget-constrained bidders

Science.gov (United States)

Ghosh, Gagan Pratap

In my dissertation, I investigate the effects of budget-constraints in multi-unit auctions. This is done in three parts. First, I analyze a case where all bidders have a common budget constraint. Precisely, I analyze an auction where two units of an object are sold at two simultaneous, sealed bid, first-price auctions, to bidders who have demand for both units. Bidders differ with respect to their valuations for the units. All bidders have an identical budget constraint which binds their ability to spend in the auction. I show that if valuation distribution is atom-less, then their does not exist any symmetric equilibrium in this auction game. In the second and third parts of my thesis, I analyze the sale of licenses for the right to drill for oil and natural gas in the Outer Continental Shelf (OCS) of the United States. These sales are conducted using simultaneous sealed-bid first-price auctions for multiple licenses, each representing a specific area (called a tract). Using aspects of observed bidding-behavior, I first make a prima facie case that bidders are budget-constrained in these auctions. In order to formalize this argument, I develop a simple extension of the standard model (where bidders differ in their valuations for the objects) by incorporating (random) budgets for the bidders. The auction-game then has a two-dimensional set of types for each player. I study the theoretical properties of this auction, assuming for simplicity that two units are being sold. I show that this game has an equilibrium in pure strategies that is symmetric with respect to the players and with respect to the units. The strategies are essentially pure in the sense that each bidder-type has a unique split (up to a permutation) of his budget between the two auctions. I then characterize the equilibrium in terms of the bid-distribution and iso-bid curves in the value-budget space. I derive various qualitative features of this equilibrium, among which are: (1) under mild

Robust Multi-unit Auction Protocol against False-name Bids

Science.gov (United States)

Yokoo, Makoto; Sakurai, Yuko; Matsubara, Shigeo

This paper presents a new multi-unit auction protocol (IR protocol) that is robust against false-name bids. Internet auctions have become an integral part of Electronic Commerce and a promising field for applying agent and Artificial Intelligence technologies. Although the Internet provides an excellent infrastructure for executing auctions, the possibility of a new type of cheating called false-name bids has been pointed out. A false-name bid is a bid submitted under a fictitious name. A protocol called LDS has been developed for combinatorial auctions of multiple different items and has proven to be robust against false-name bids. Although we can modify the LDS protocol to handle multi-unit auctions, in which multiple units of an identical item are auctioned, the protocol is complicated and requires the auctioneer to carefully pre-determine the combination of bundles to obtain a high social surplus or revenue. For the auctioneer, our newly developed IR protocol is easier to use than the LDS, since the combination of bundles is automatically determined in a flexible manner according to the declared evaluation values of agents. The evaluation results show that the IR protocol can obtain a better social surplus than that obtained by the LDS protocol.

Electronic Reverse Auctions in the Federal Government

Science.gov (United States)

2007-12-01

notification e-mail to all vendors informing them that a solicitation was issued that matches their company profile. A notification will also be sent...auction design. According to Kambil and van Heck (2002) business-to-business ( B2B ) auctions should be conducted on the weekdays, with enough time...allowed for proper pricing and risk-assessment by the company . In contrast, sellers on eBay may decide to run their auctions for any length of time

7 CFR 29.36 - Auction market.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Auction market. 29.36 Section 29.36 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Regulations Definitions § 29.36 Auction market. A place to which tobacco is delivered by the...

Analysis of a monthly auction for financial transmission rights and flow-gate rights

International Nuclear Information System (INIS)

Biskas, P.N.; Ziogos, N.P.; Bakirtzis, A.G.

2007-01-01

A monthly transmission rights (TR) auction issuing both point-to-point financial transmission rights (FTRs) and flow-gate rights (FGRs) is studied in this paper. Initially, a locational marginal pricing (LMP) based energy market is presented, in which the linear security constrained optimal power flow (SCOPF) problem is solved for each hour of system operation, determining the nodal prices, the transmission link capacity prices and the transmission congestion charges (TCCs) that should be collected by the ISO in case of congestion. A monthly auction is conducted in the TR market issuing FTR obligations, FTR options and FGRs to market players, building a link between all types of transmission rights under the same market structure. Combining the advantages of financial and physical rights, the market efficiency can be enhanced by offering a variety of choices for risk management to market players. The monthly TR auction is tested on several case studies using the IEEE three-area RTS96 and useful conclusions are drawn concerning the utility of the various types of transmission rights as compared to one another, in terms of the reimbursement they provide to their holders. (author)

Auctioned IPOs : The U.S. Evidence

NARCIS (Netherlands)

Degeorge, F.; Derrien, F.; Womack, K.L.

2009-01-01

Between 1999 and 2007, WR Hambrecht has completed 19 IPOs in the U.S. using an auction mechanism. We analyze investor behavior and mechanism performance in these auctioned IPOs using detailed bidding data. The existence of some bids posted at high prices suggests that some investors (mostly retail)

Auctions for coastal energy resources

Science.gov (United States)

Griffin, Robert M.

It is becoming increasingly common to allocate public resources to the private sector for the purpose of developing these resources. One of the earliest uses of auctions in the U.S. for allocating rights to public resources was in the offshore oil and gas industry. The U.S. Federal government, through the Department of Interior (DOI), has used auctions to allocate development rights to offshore oil and gas resources to the private sector since the 1950's. Since then many things have changed. Oil and gas markets have gone through boom and bust cycles, giant technological advances in extraction and assessment have taken place, and alternative energy based in the coastal zone is now in demand in markets as well. There has been an enormous amount of research into the drivers of bidder behavior in auctions and optimal auction design in the last 60 years as well. Throughout all of this, the DOI has continued to use basically the same exact auction design to allocate oil and gas leases. The U.S. offshore oil and gas resources sold by the Department of Interior have accounted for more than $65 billion in revenue since the program started. These offshore resources are an important source of government revenue and national wealth. Additionally, the expansion of the energy sector offshore has enormous potential for electricity generation in the U.S., estimated by the National Renewable Energy Laboratory as approaching 54 gigawatts by 2030 (U.S. Department of Energy, 2008). Taken together, the DOI controls access to a large part of the future of energy in the U.S. The research herein assesses the auction formats used to allocate both fossil fuels and renewable resources on the Outer Continental Shelf (OCS). The first manuscript looks at the current method used by the DOI to allocate oil and gas leases on the OCS, and is primarily interested in how bidders behave in this environment. Using latent class estimation techniques to separate distinct bidding behavior in a laboratory

Auctioning access to networks: evidence and expectations

International Nuclear Information System (INIS)

McDaniel, T.

2003-01-01

Under very strict assumptions the outcomes that make common auction designs theoretically attractive can be expected to emerge: goods will go to those who value them most and the allocation will maximize revenue for the auctioneer. In network industries such as electricity, gas, telecommunications, rail, and airlines where agents are of different sizes and incumbency these assumptions do not always apply for a number of reasons. For example, the auctioned product may be an intermediate good, bidders are not symmetric with respect to values and information, markets are mixed, and property rights are hard to define. We discuss why it is not straightforward to make theoretical predictions about expected outcomes for these industries and use the British gas industry to discuss the importance of competition and scarcity for auctions of network capacity. (Author)

Rationality, irrationality and escalating behavior in lowest unique bid auctions.

Science.gov (United States)

Radicchi, Filippo; Baronchelli, Andrea; Amaral, Luís A N

2012-01-01

Information technology has revolutionized the traditional structure of markets. The removal of geographical and time constraints has fostered the growth of online auction markets, which now include millions of economic agents worldwide and annual transaction volumes in the billions of dollars. Here, we analyze bid histories of a little studied type of online auctions--lowest unique bid auctions. Similarly to what has been reported for foraging animals searching for scarce food, we find that agents adopt Lévy flight search strategies in their exploration of "bid space". The Lévy regime, which is characterized by a power-law decaying probability distribution of step lengths, holds over nearly three orders of magnitude. We develop a quantitative model for lowest unique bid online auctions that reveals that agents use nearly optimal bidding strategies. However, agents participating in these auctions do not optimize their financial gain. Indeed, as long as there are many auction participants, a rational profit optimizing agent would choose not to participate in these auction markets.

Intelligent Personalized Trading Agents that facilitate Real-time Decisionmaking for Auctioneers and Buyers in the Dutch Flower Auctions

NARCIS (Netherlands)

W. Ketter (Wolfgang); H.W.G.M. van Heck (Eric); R.A. Zuidwijk (Rob)

2010-01-01

textabstractIn this case the Dutch Flower Auctions (DFA) are discussed. The DFA are part of the supply network in which flowers are produced, stocked, and then sold through either mediation or auctioning. This case focuses on the buyers’ and auctioneers’ positions when flowers are traded through

An Investigation of Value Updating Bidders in Simultaneous Online Art Auctions

Directory of Open Access Journals (Sweden)

Mayukh Dass

2010-01-01

Full Text Available Simultaneous online auctions, in which the auction of all items being sold starts at the same time and ends at the same time, are becoming popular especially in selling items such as collectables and art pieces. In this paper, we analyze the characteristics of bidders (Reactors in simultaneous auctions who update their preauction value of an item in the presence of influencing bidders (Influencers. We represent an auction as a network of bidders where the nodes represent the bidders participating in the auction and the ties between them represent an Influencer-Reactor relationship. We further develop a random effects bilinear model that is capable of handling covariates of both bidder types at the same time and account for higher-order dependence among the bidders during the auction. Using the model and data from a Modern Indian Art auction, we find that Reactors tend to update their values on items that have high preauction estimates, bid on items created by high investment risk artists, bid selectively only on certain items, and are more active in the second half of the auction. Implications for the auction house managers are discussed.

Online Reverse Auctions for Procurement of Services

NARCIS (Netherlands)

U.L. Radkevitch (Uladzimir)

2008-01-01

textabstractOnline reverse auctions, in which a buyer seeks to select a supplier and suppliers compete for contracts by bidding online, revolutionized corporate procurement early this century. Shortly after they had been pioneered by General Electric, many companies rushed to adopt reverse auctions

Rationality, irrationality and escalating behavior in lowest unique bid auctions.

Directory of Open Access Journals (Sweden)

Filippo Radicchi

Full Text Available Information technology has revolutionized the traditional structure of markets. The removal of geographical and time constraints has fostered the growth of online auction markets, which now include millions of economic agents worldwide and annual transaction volumes in the billions of dollars. Here, we analyze bid histories of a little studied type of online auctions--lowest unique bid auctions. Similarly to what has been reported for foraging animals searching for scarce food, we find that agents adopt Lévy flight search strategies in their exploration of "bid space". The Lévy regime, which is characterized by a power-law decaying probability distribution of step lengths, holds over nearly three orders of magnitude. We develop a quantitative model for lowest unique bid online auctions that reveals that agents use nearly optimal bidding strategies. However, agents participating in these auctions do not optimize their financial gain. Indeed, as long as there are many auction participants, a rational profit optimizing agent would choose not to participate in these auction markets.

Rationality, Irrationality and Escalating Behavior in Lowest Unique Bid Auctions

Science.gov (United States)

Radicchi, Filippo; Baronchelli, Andrea; Amaral, Luís A. N.

2012-01-01

Information technology has revolutionized the traditional structure of markets. The removal of geographical and time constraints has fostered the growth of online auction markets, which now include millions of economic agents worldwide and annual transaction volumes in the billions of dollars. Here, we analyze bid histories of a little studied type of online auctions – lowest unique bid auctions. Similarly to what has been reported for foraging animals searching for scarce food, we find that agents adopt Lévy flight search strategies in their exploration of “bid space”. The Lévy regime, which is characterized by a power-law decaying probability distribution of step lengths, holds over nearly three orders of magnitude. We develop a quantitative model for lowest unique bid online auctions that reveals that agents use nearly optimal bidding strategies. However, agents participating in these auctions do not optimize their financial gain. Indeed, as long as there are many auction participants, a rational profit optimizing agent would choose not to participate in these auction markets. PMID:22279553

Online learning in repeated auctions

OpenAIRE

Weed, Jonathan; Perchet, Vianney; Rigollet, Philippe

2015-01-01

Motivated by online advertising auctions, we consider repeated Vickrey auctions where goods of unknown value are sold sequentially and bidders only learn (potentially noisy) information about a good's value once it is purchased. We adopt an online learning approach with bandit feedback to model this problem and derive bidding strategies for two models: stochastic and adversarial. In the stochastic model, the observed values of the goods are random variables centered around the true value of t...

Implementation of Auctions for Renewable Energy Support in Poland: a Case Study

DEFF Research Database (Denmark)

Kitzing, Lena; Wendring, Paul

This report deals with the planned implementation of auctions for Renewable Energy support in Poland from 2016 onwards. The report focuses on the implementation process and provides the necessary background information. Furthermore the planned auction design is described and discussed both from...... criteria, of appropriate auction formats and suitable design elements for RES auctions, as well as the analysis of past auction implementations....

Optimize-and-Dispatch Architecture for Expressive Ad Auctions

OpenAIRE

Parkes, David C.; Sandholm, Tuomas

2005-01-01

Ad auctions are generating massive amounts of revenue for online search engines such as Google. Yet, the level of expressiveness provided to participants in ad auctions could be significantly enhanced. An advantage of this could be improved competition and thus improved revenue to a seller of the right to advertise to a stream of search queries. In this paper, we outline the kinds of expressiveness that one might expect to be useful for ad auctions and introduce a high-level “optimize-and-...

Worst-Case Cooperative Jamming for Secure Communications in CIoT Networks.

Science.gov (United States)

Li, Zhen; Jing, Tao; Ma, Liran; Huo, Yan; Qian, Jin

2016-03-07

The Internet of Things (IoT) is a significant branch of the ongoing advances in the Internet and mobile communications. The use of a large number of IoT devices makes the spectrum scarcity problem even more serious. The usable spectrum resources are almost entirely occupied, and thus, the increasing radio access demands of IoT devices cannot be met. To tackle this problem, the Cognitive Internet of Things (CIoT) has been proposed. In a CIoT network, secondary users, i.e., sensors and actuators, can access the licensed spectrum bands provided by licensed primary users (such as telephones). Security is a major concern in CIoT networks. However, the traditional encryption method at upper layers (such as symmetric cryptography and asymmetric cryptography) may be compromised in CIoT networks, since these types of networks are heterogeneous. In this paper, we address the security issue in spectrum-leasing-based CIoT networks using physical layer methods. Considering that the CIoT networks are cooperative networks, we propose to employ cooperative jamming to achieve secrecy transmission. In the cooperative jamming scheme, a certain secondary user is employed as the helper to harvest energy transmitted by the source and then uses the harvested energy to generate an artificial noise that jams the eavesdropper without interfering with the legitimate receivers. The goal is to minimize the signal to interference plus noise ratio (SINR) at the eavesdropper subject to the quality of service (QoS) constraints of the primary traffic and the secondary traffic. We formulate the considered minimization problem into a two-stage robust optimization problem based on the worst-case Channel State Information of the Eavesdropper. By using semi-definite programming (SDP), the optimal solutions of the transmit covariance matrices can be obtained. Moreover, in order to build an incentive mechanism for the secondary users, we propose an auction framework based on the cooperative jamming scheme

77 FR 57085 - Mobility Fund Phase I Auction; Release of Files with Recalculated Road Miles for Auction 901...

Science.gov (United States)

2012-09-17

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 12-25; DA 12-1446] Mobility Fund Phase I Auction... Mobility Fund Phase I support to be offered in Auction 901, which is to be held on September 27, 2012, and..., 77 FR 32092, May 31, 2012, the Bureaus identified census blocks eligible for the Mobility Fund Phase...

Selling pictures: the illustrated auction catalogue

Directory of Open Access Journals (Sweden)

Elizabeth Pergam

2014-12-01

Full Text Available This essay is based upon a survey of reproductions in auction catalogues – from their first appearance in the early eighteenth century until their more consistent use in the second decade of the twentieth century. Examining the role of these illustrations sheds light on how auctions functioned; it was not just the works of art that were traded, but knowledge about those works of art became currency to be exchanged. In contrast to the high end engravings and photographs of luxury illustrated art books, reproductions in auction catalogues – publications produced as ephemeral marketing tools – were of noticeably lower quality. This study of the status of reproductions, therefore, investigates the evolving understanding of art knowledge, both aesthetic and economic, and the interdependence of the market and connoisseurship.

Keeping out Trojan horses: auctions and bankruptcy in the laboratory

NARCIS (Netherlands)

Onderstal, S.; van der Veen, A.

2011-01-01

If a government auctions the right to market a good, continuity is likely to be of significant importance. In a laboratory experiment, we compare the effects of bidders' limited liability in the first-price sealed-bid auction and the English auction in a common value setting. Our data strongly

Appropriate design of auctions for renewable energy support – Prequalifications and penalties

International Nuclear Information System (INIS)

Kreiss, Jan; Ehrhart, Karl-Martin; Haufe, Marie-Christin

2017-01-01

Auctions are a promising tool to accomplish renewable energy support (RES). However, they involve diverse risks for the auctioneer and the bidders. The major risk for the auctioneer – with respect to the expansion target and the acceptance of auctions for RES in general – is the risk of non-realization: awarded bidders do not realize their projects. The main reasons are bidders' uncertainties concerning their project costs. The auctioneer can reduce the non-realization risk by taking various measures. The most discussed and implemented measures are financial and physical prequalifications and penalties. An evaluation of these measures has relevant implications for an appropriate auctions design for RES. The non-realization option induces lower bids. A suitable combination of financial and physical prequalifications can reduce the non-realization risk significantly, however, involves sunk costs. Counterintuitively, first-price auction and second-price auction lead to different expected award prices and different realization probabilities. Penalties bear a high risk of inefficient auction outcomes. The appropriate parametrization and combination of the measures is challenging. Under consideration of all implications, we recommend high financial and adjusted physical prequalifications to achieve a sufficiently high realization rate while maintaining efficiency. - Highlights: • The non-realization risk is a major problem of auctions for RES. • Designated measures are financial and physical prequalifications and penalties. • Prequalifications and penalties have different effects on auction outcome. • The non-realization option violates the revenue equivalence theorem. • We recommend high financial and adjusted physical prequalifications.

On the efficiency of the first price auction

Czech Academy of Sciences Publication Activity Database

Hernando-Veciana, Á.; Michelucci, Fabio

2017-01-01

Roč. 156, July (2017), s. 159-161 ISSN 0165-1765 Institutional support: Progres-Q24 Keywords : efficiency * first price auction * english auction Subject RIV: AH - Economics OBOR OECD: Economic Theory Impact factor: 0.558, year: 2016

Approximating the Qualitative Vickrey Auction by a Negotiation Protocol

Science.gov (United States)

Hindriks, Koen V.; Tykhonov, Dmytro; de Weerdt, Mathijs

A result of Bulow and Klemperer has suggested that auctions may be a better tool to obtain an efficient outcome than negotiation. For example, some auction mechanisms can be shown to be efficient and strategy-proof. However, they generally also require that the preferences of at least one side of the auction are publicly known. However, sometimes it is very costly, impossible, or undesirable to publicly announce such preferences. It thus is interesting to find methods that do not impose this constraint but still approximate the outcome of the auction. In this paper we show that a multi-round multi-party negotiation protocol may be used to this end if the negotiating agents are capable of learning opponent preferences. The latter condition can be met by current state of the art negotiation technology. We show that this protocol approximates the theoretical outcome predicted by a so-called Qualitative Vickrey auction mechanism (even) on a complex multi-issue domain.

Effective Spend Management Through Electronic Reverse Auction Configurations

Directory of Open Access Journals (Sweden)

Mojmír Prídavok

2013-07-01

Full Text Available The purpose of the paper is to analyz wide range of possible auction strategies and configurations of eRA, with respect to the ever changing market conditions. Electronic reverse auction (eRA represents an electronic sourcing method of competitive bidding among a number of qualified suppliers. Theory assumes that eRA represents pure market environment with information perfectly distributed between both buyers and suppliers. Although initial eRA cost savings in B2B could be as high as 40%, without deeper knowledge of different auctions strategies and configurations, additional cost reductions are not possible. To identify crucial determinant, the statistical (correlation analysis on the data set of more than 18.000 auction items with different configuration parameters was conducted. Findings suggest that the more bidders are invited to the eRA, the better results could be expected. Additionally, the complexity of the eRA parameterization does not seem to influent the success of the eRA. These results can influence usage and SW development of eRA application in real environment. This research extends already realized studies in the field of electronic auctions for the B2B processes

Auction design for the allocation of carbon emission allowances: uniform or discriminatory price?

DEFF Research Database (Denmark)

Cong, Ronggang; wei, yi-ming

2010-01-01

Only four states used auction in Phase Ⅰ (2005-2007) of the European Union Emission Trading System, of which four used a uniform-price sealed auction format. Here we discuss whether the auction should adopt a uniform-price or discriminatory-price format using an agent-based carbon allowances...... auction model established for the purpose. The main conclusions are as follows: (1) when carbon allowances are relatively scarce, the government should use a discriminatory-price auction; when carbon allowances are relatively abundant, the government should use a uniform-price auction. (2) Uncertainty......) The uniform-price auction is relatively insensitive to market structure. However, a monopoly market is more likely to develop under the discriminatory-price auction format. The results of the model have some policy implications for designing carbon market mechanisms in the future....

The inherent inefficiency of simultaneously feasible financial transmission rights auctions

International Nuclear Information System (INIS)

Deng, Shi-Jie; Oren, Shmuel; Meliopoulos, A.P.

2010-01-01

Empirical evidence from the New York ISO shows that the clearing prices for point-to-point congestion revenue rights, also known as financial transmission rights (FTRs), resulting from centralized auctions conducted by Independent System Operators differ significantly and systematically from the realized congestion revenues that determine the accrued payoffs of these rights. The question addressed by this paper is whether such deviations are due to price discovery errors which will eventually vanish or due to inherent inefficiencies in the auction structure. We show that even with perfect foresight of average congestion rents the clearing prices for the FTRs depend on the bid quantity and therefore may not be priced correctly in the financial transmission right (FTR) auction. In particular, we prove that quantity limits on the FTR bids may cause the auction clearing prices to differ from the bid prices. This phenomenon which is inherent in the theoretical properties of the optimization algorithm used to clear the auction, is further illustrated through numerical simulations with test systems. We conclude that price discovery alone would not remedy the discrepancy between the auction prices and the realized values of the FTRs. Secondary markets or frequent reconfiguration auctions are necessary in order to achieve such convergence. (author)

Auction fever: exploring informational social influences on bidder choices.

Science.gov (United States)

Chen, Yi-Fen

2011-01-01

Previous investigations of herd behavior have identified the importance of informational social influences in consumer decision making. This research presents three studies examining herd behavior in online auctions. The three studies addressed the influence on bidder online choices of herd cues frequently found in online auctions, including bid number, feedback ratings, and number of questions and answers. This research also investigated the effect of different levels of herd cues on bidder online choices under high and low brand awareness in online auctions. The experimental results demonstrated that bidders use online herd cues when making decisions in online auctions. Additionally, different levels of herd cues influence bidder online choices in both high and low brand awareness product situations.

Agora Energiewende (2017). Future cost of onshore wind. Recent auction results, long-term outlook and implications for upcoming German auctions

Energy Technology Data Exchange (ETDEWEB)

Thomassen, Georg; Deutsch, Matthias

2017-04-15

The costs for electricity from renewable generation have been falling significantly in recent years, and record low bids at auctions around the world have grasped the attention of the public. Solar photovoltaics and offshore wind auctions, in particular, have attracted a lot of interest. The results for onshore wind, however, are just as impressive. The future cost development of onshore wind is of great relevance, since it is a key pillar of the energy system transformation in many parts of the world. However, the estimated long-term cost reductions vary significantly, as different studies value the cost drivers of wind differently. In Germany, the opaque and complex cost structure of onshore wind is the root of much controversy. International auction results with winning bids of less than half of the typical German pay rate left people questioning the costs of domestic wind power. However this discussion often fails to account adequately for differences in the quality of wind resources. In light of the upcoming, and first, German onshore wind auctions, we aim to contribute to the ongoing discussion by providing the necessary context for international auction results, a general outlook on the future cost of onshore wind, and by illustrating the existing potential and hindrances for cost reductions in the German market.

Agora Energiewende (2017). Future cost of onshore wind. Recent auction results, long-term outlook and implications for upcoming German auctions

International Nuclear Information System (INIS)

Thomassen, Georg; Deutsch, Matthias

2017-01-01

The costs for electricity from renewable generation have been falling significantly in recent years, and record low bids at auctions around the world have grasped the attention of the public. Solar photovoltaics and offshore wind auctions, in particular, have attracted a lot of interest. The results for onshore wind, however, are just as impressive. The future cost development of onshore wind is of great relevance, since it is a key pillar of the energy system transformation in many parts of the world. However, the estimated long-term cost reductions vary significantly, as different studies value the cost drivers of wind differently. In Germany, the opaque and complex cost structure of onshore wind is the root of much controversy. International auction results with winning bids of less than half of the typical German pay rate left people questioning the costs of domestic wind power. However this discussion often fails to account adequately for differences in the quality of wind resources. In light of the upcoming, and first, German onshore wind auctions, we aim to contribute to the ongoing discussion by providing the necessary context for international auction results, a general outlook on the future cost of onshore wind, and by illustrating the existing potential and hindrances for cost reductions in the German market.

Bidding strategies in Brazilian electricity auctions

International Nuclear Information System (INIS)

Azevedo, Erick M.; Correia, Paulo B.

2006-01-01

Double bilateral contract auctions for electric energy purchase and sale occur in Brazil. These auctions present incomplete information and possess some subjectivity in relation to the future scenario of the Brazilian electric system, inserted in the agent's bids. In this work, a model using Bayes' rule and the game theory is proposed to aid the agent in its bid definition. Through the existing relations between the Conditional probabilities of Bayes' Rule, the model transforms beliefs into information. In this way, the absence of information is supplied and the problem is transformed into a game with complete information. The present study has no worries in terms of transmission constraints, since they are not usually considered in the bilateral contract auctions in Brazil. At the end, Nash equilibrium (NE) can be found through the expected payoff matrix of each agent. (author)

Need and design of short-term auctions in the EU gas markets

International Nuclear Information System (INIS)

Vazquez, Miguel; Hallack, Michelle

2013-01-01

In the EU, gas markets are based on socializing network flexibility services. However, shippers have different preferences on network flexibility, which are not reflected in current allocation models. We propose the introduction of auction mechanisms to allocate network services in the short run. The auction aims to represent simultaneously the diversity of players′ preferences and the trade-offs implied by network constraints. Two sealed-bid auctions are proposed: (a) an auction based on bids for gas, which allocates network services through the minimization of gas price differences; (b) an auction with explicit bids for line-pack, which allows shippers′ valuation of line-pack storage. - Highlights: • EU gas regulation faces serious difficulties in network resource allocation. • We propose two short-term auctions with implicit network allocation. • The difference between the two is the implicit or explicit allocation of line-pack. • The first auction considers line-pack as an instrument to arbitrage gas prices. • The second auction design considers line-pack as a tool to hedge volatility

Common Agency and Coordinated Bids in Sponsored Search Auctions

OpenAIRE

Maris Goldmanis; Antonio Penta; Francesco Decarolis

2012-01-01

As auctions are becoming the main mechanism for selling advertisement space on the web, marketing agencies specialized in bidding in online auctions are proliferating. We analyze theoretically how bidding delegation to a common marketing agency can undermine both revenues and efficiency of the generalized second price auction, the format used by Google and Microsoft-Yahoo!. Our characterization allows us to quantify the revenue losses relative to both the case of full competition and the case...

Experimental comparison of impact of auction format on carbon allowance market

DEFF Research Database (Denmark)

Cong, Ronggang; Wei, Yi-Ming

2012-01-01

auction and English clock auction) with heterogeneous bidders (coal power plants and gas power plants) from four perspectives (carbon price, auction efficiency, demand withholding and fluctuations in power supplies). Possibilities of collusion among bidders and impacts of allowance banking and penalty...

A uniform price auction with locational price adjustments for competitive electricity markets

International Nuclear Information System (INIS)

Ethier, R.; Mount, T.; Schulze, W.; Zimmerman, R.; Thomas, R.

1999-01-01

Competitive electricity markets which rely on centralized dispatch require a mechanism to solicit offers from competing generators. Ideally, such an auction mechanism, provides incentives to submit offers equal to the marginal cost of generation for each generator. Economic theory suggests that the Uniform Price auction is an appropriate institution. However, an efficient implementation of this auction in an electricity context requires that the offers used in the auction reflect the appropriate locational price adjustments for transmission losses and congestion. This paper describes a uniform price auction that incorporates locational price adjustments on a Web-based platform suitable for experimentation. Preliminary results show dramatically different price and revenue results when compared with a simple continuous Discriminative auction. (author)

Experiments with the auction algorithm for the shortest path problem

DEFF Research Database (Denmark)

Larsen, Jesper; Pedersen, Ib

1999-01-01

The auction approach for the shortest path problem (SPP) as introduced by Bertsekas is tested experimentally. Parallel algorithms using the auction approach are developed and tested. Both the sequential and parallel auction algorithms perform significantly worse than a state-of-the-art Dijkstra-l......-like reference algorithm. Experiments are run on a distributed-memory MIMD class Meiko parallel computer....

An assessment of the Danish-German cross-border auctions

International Nuclear Information System (INIS)

Kristiansen, Tarjei

2007-01-01

This paper presents an analysis of the auction prices at the cross-border auction between West Denmark and Germany and between East Denmark and Germany (the Kontek cable). Monthly and annual transmission capacities appear to be more highly valued than daily transmission capacity on average. The two cross-border auctions show different trends: the auctions between West Denmark and Germany exhibit a higher level of prices in the southbound direction, and between East Denmark and Germany, higher prices in the northbound direction. We find a relatively strong correspondence in the pricing of products over different time frames (daily, monthly and annual auctions) between West Denmark and Germany and a weak correspondence for the products between East Denmark and Germany. In the daily auctions, market players can decide whether to use their capacity after the clearing of the day-ahead market, while in the monthly and annual auctions they must decide whether to use their capacity prior to clearing. If they choose not to use their capacity, the use-it-or-lose-it principle applies. The capacity is then subsequently released to the daily market. Since the daily cross-border auctions are free of commitment, they should be valued as options. Likewise, in the monthly and annual auctions market players can choose not to nominate their capacity but as this must occur before the clearing of the day-ahead market, they will not know the directions of the power flows a priori. If they nominate the capacity they must use it; if the direction turns out to be ''wrong,'' it is then possible to purchase capacity in the opposite direction in the daily auctions. If market players can accurately predict the outcome of the spot markets day ahead, the value of monthly and annual capacity should more closely reflect the value of an option. Thus, one would expect the value of the monthly and annual capacity to be between the value of an option and an obligation. Although this suggests that the

Simulating the Effectiveness of an Alternative Salary Auction Mechanism

National Research Council Canada - National Science Library

Tan, Pei Yin

2006-01-01

... the incentive of bidders to submit a truthful valuation of the jobs. An alternative auction mechanism that combined elements of both auction theory and matching was proposed to overcome these complications...

A Trustworthy Internet Auction Model with Verifiable Fairness.

Science.gov (United States)

Liao, Gen-Yih; Hwang, Jing-Jang

2001-01-01

Describes an Internet auction model achieving verifiable fairness, a requirement aimed at enhancing the trust of bidders in auctioneers. Analysis results demonstrate that the proposed model satisfies various requirements regarding fairness and privacy. Moreover, in the proposed model, the losing bids remain sealed. (Author/AEF)

Vickrey Auctions in Practice: From Nineteenth-Century Philately to Twenty-First-Century E-Commerce

OpenAIRE

David Lucking-Reiley

2000-01-01

William Vickrey (1961) proposed an auction mechanism in which bidders submit sealed bids, and the highest bidder wins the good in return for payment of the second-highest bid amount. For decades, economists have credited Vickrey with inventing this auction format, and have believed that the Vickrey auction is rarely used in practice. This paper presents evidence that Vickrey auctions have long been the predominant auction format for mail sales of collectible postage stamps. Stamp auctioneers ...

An ascending multi-item auction with financially constrained bidders

Directory of Open Access Journals (Sweden)

Gerard van der Laan

2016-12-01

Full Text Available Several heterogeneous items are to be sold to a group of potentially budget- constrained bidders. Every bidder has private knowledge of his own valuation of the items and his own budget. Due to budget constraints, bidders may not be able to pay up to their values and typically no Walrasian equilibrium exists. To deal with such markets, we propose the notion of 'equilibrium under allotment' and develop an ascending auction mechanism that always finds such an equilibrium assignment and a corresponding system of prices in finite time. The auction can be viewed as a novel generalization of the ascending auction of Demange et al. (1986 from settings without financial constraints to settings with financial constraints. We examine various strategic and efficiency properties of the auction and its outcome.

Bidding Strategies in Agent-based Continuous Double Auctions

NARCIS (Netherlands)

H. Ma (Huiye); H.-F. Leung

2008-01-01

htmlabstractOnline auctions are a platform to trade goods on the Internet. In this context, negotiation capabilities for software agents in continuous double auctions (CDAs) are a central concern. Agents need to be able to prepare bids for and evaluate offers on behalf of the users they represent

Multidimensional procurement auctions with unknown weights

DEFF Research Database (Denmark)

Greve, Thomas

This paper studies the consequences of holding a procurement auction when the principal chooses not to show its preferences. My paper extends the procurement auction model of Che (1993) to a situation where both the principal and the agents have private information. Thus, unknown parameters of bo...... gives rise to an analysis of a principal that can not fully commit to the outcome induced by the scoring rule. Therefore, my result apply to contract theory and it’s problems with imperfect commitment....

Development of modified rational buyer auction for procurement of ancillary services utilizing participation matrix

International Nuclear Information System (INIS)

Jamalzadeh, R.; Ardehali, M.M.; Rashidinejad, M.

2008-01-01

The rational buyer auction is based on a simultaneous auction that is the redesigned auction mechanism for ancillary services by the California independent system operator (CAISO). The incentive for the rational buyer auction is CAISO's intent to adopt a common sense rule of substituting higher-quality lower-cost services for lower-quality higher-cost services, when it results in reduced total procurement cost. For the purposes of designing a desirable auction where the minimum cost for the objective function as well as prevention of price reversal are achieved, either the payment cost in marginal pricing auction must be lowered or price reversal in rational buyer auction must be avoided. The objectives of this study are (a) to develop a newly proposed 'modified rational buyer' auction that does not allow price reversal and (b) to propose and validate a solution procedure that is based on participation matrix and discrete programming. The validation of the proposed solution procedure is accomplished through examination of two case studies available in the literature. Based on the first case study data, it is shown that the newly developed modified rational buyer auction avoids price reversal occurrence, while the total payment of ISO is increased by 5.8%, as compared with rational buyer auction. Also in comparison with marginal pricing auction, the ISO payment is lowered by 38.8%, when the newly developed modified rational buyer auction is utilized. For future work, it is recommended that the application of the modified rational buyer auction to joint dispatch of energy and ancillary services is investigated

Revenue comparisons for auctions when bidders have arbitrary types

Directory of Open Access Journals (Sweden)

Yeon-Koo Che

2006-03-01

Full Text Available This paper develops a methodology for characterizing expected revenue from auctions when bidders' types come from an arbitrary distribution. In particular, types may be multidimensional, and there may be mass points in the distribution. One application extends existing revenue equivalence results. Another application shows that first-price auctions yield higher expected revenue than second-price auctions when bidders are risk averse and face financial constraints. This revenue ranking extends to risk-averse bidders with general forms of non-expected utility preferences.

Auctions for renewable energy support - Taming the beast of competitive bidding

DEFF Research Database (Denmark)

Mora Alvarez, David Fernando; Kitzing, Lena; Soysal, Emilie Rosenlund

countries. These insights are based on theoretical and empirical analysis (energy auctions in 12 European countries and 8 non-European countries), the use of state of the art simulation models and experiments, and through cooperation cases with some Member States providing tailor-made policy support...... in the implementation of auctions. AURES contributed to a strong knowledge-sharing with workshops, webinars, bi- and multilateral meetings, an interactive website and dedicated auction tools (AURES cash flow model and AURES auction designer). This final report covers a discussion of major findings and insights...

A novel inclusion of intermittent generation resources in long term energy auctions

International Nuclear Information System (INIS)

Marambio, Rodrigo; Rudnick, Hugh

2017-01-01

Long term energy auctions are positioning as a valuable tool in order to attract new investments into power systems, especially in Latin American countries where emergent economies characteristics and their correspondent risks are usually present. Even though the focus of these auctions is the long term, there are short term issues involved which actual auction designs fail to include, resulting in an energy allocation that is not necessarily optimal for the system, a condition which becomes more evident in the presence of intermittent renewable technologies. A novel mechanism is formulated to obtain the optimal allocation in long term energy auctions, considering short term generation profiles from both intermittent and conventional base load technologies, and also their risk aversions. The proposed mechanism is developed and simulations are made for some scenarios in the Chilean power market, with different levels of renewable penetration. Significant cost savings are achieved for the final consumers in relation to energy purchases, in comparison with a mechanism that follows the demand profile. As more renewable intermittent capacity enters the power system it is evident the need for changes in the energy auctions allocation mechanisms, including elements to exploit the synergies among participants in the short term. - Highlights: • Risk management consideration in technology neutral auctions allocation. • Allocation mechanism in technology neutral auctions with intermittent technologies. • Renewable and conventional technologies energy auction offer curves. • Increase bid prices in auctions as a consequence of solar technology support.

Statistical Properties of Online Auctions

Science.gov (United States)

Namazi, Alireza; Schadschneider, Andreas

We characterize the statistical properties of a large number of online auctions run on eBay. Both stationary and dynamic properties, like distributions of prices, number of bids etc., as well as relations between these quantities are studied. The analysis of the data reveals surprisingly simple distributions and relations, typically of power-law form. Based on these findings we introduce a simple method to identify suspicious auctions that could be influenced by a form of fraud known as shill bidding. Furthermore the influence of bidding strategies is discussed. The results indicate that the observed behavior is related to a mixture of agents using a variety of strategies.

Revenue and efficiency in multi-unit uniform-price auctions

Czech Academy of Sciences Publication Activity Database

Břeský, Michal

-, č. 384 (2009), s. 1-39 ISSN 1211-3298 Institutional research plan: CEZ:MSM0021620846 Keywords : multi-unit auction * multiple-object auction * market efficiency * optimal selling mechanism Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp384.pdf

Multi-Attribute Vickrey Auctions when Utility Functions are Unknown

NARCIS (Netherlands)

Máhr, T.; De Weerdt, M.M.

2006-01-01

Multi-attribute auctions allow negotiations over multiple attributes besides price. For example in task allocation, service providers can define their service by means of multiple attributes, such as quality of service, deadlines, or delay penalties. Auction mechanisms assume that the players have

Team Organization Method Using Salary Auction Game for Sustainable Motivation

Directory of Open Access Journals (Sweden)

Sangkyun Kim

2015-10-01

Full Text Available In performing team-based projects in engineering class, students usually face many problems, such as free-riding, lack of responsibility, boredom, and insufficient initiative. This papers proposes a new method for performing team-based projects in engineering class—specifically, a gamified method for team organization using a salary auction game. On the description of the design and use of a salary auction game in engineering class, a case study conducted using a survey method is reported to validate the practical value of the proposed auction game. The salary auction game proposed in this paper demonstrates that a gamified team organization method in engineering class could be used as an effective tool to enhance motivation and to improve learning outcomes of engineering students.

The supply function equilibrium and its policy implications for wholesale electricity auctions

International Nuclear Information System (INIS)

Holmberg, Paer; Newbery, David

2010-01-01

The supply function equilibrium provides a game-theoretic model of strategic bidding in oligopolistic wholesale electricity auctions. This paper presents an intuitive account of current understanding and shows how welfare losses depend on the number of firms in the market and their asymmetry. Previous results and general recommendations for divisible-good/multi-unit auctions provides guidance on the design of the auction format, setting the reservation price, the rationing rule, and restrictions on the offer curves in wholesale electricity auctions. (author)

How to Organize Sequential Auctions : Results of a Natural Experiment by Christie's

NARCIS (Netherlands)

Ginsburgh, V.; van Ours, J.C.

2003-01-01

In empirical studies of sequential auctions of identical objects prices have been found to decline.We study auctions of ancient Chinese porcelain recovered from shipwrecks.In these auctions there are very long sequences of lots of identical objects.We find that the average price decline is smaller

6 essays about auctions: a theoretical and empirical analysis. Application to power markets

International Nuclear Information System (INIS)

Lamy, L.

2007-06-01

This thesis is devoted to a theoretical and empirical analysis of auction mechanisms. Motivated by allocation issues in network industries, in particular by the liberalization of the electricity sector, it focus on auctions with externalities (either allocative or informational) and on multi-objects auctions. After an introduction which provides a survey of the use and the analysis of auctions in power markets, six chapters make this thesis. The first one considers standard auctions in Milgrom-Weber's model with interdependent valuations when the seller can not commit not to participate in the auction. The second and third chapters study the combinatorial auction mechanism proposed by Ausubel and Milgrom. The first of these two studies proposes a modification of this format with a final discount stage and clarifies the theoretical status of those formats, in particular the conditions such that truthful reporting is a dominant strategy. Motivated by the robustness issues of the generalizations of the Ausubel-Milgrom and the Vickrey combinatorial auctions to environments with allocative externalities between joint-purchasers, the second one characterizes the buyer-sub-modularity condition in a general model with allocative identity-dependent externalities between purchasers. In a complete information setup, the fourth chapter analyses the optimal design problem when the commitment abilities of the principal are reduced, namely she can not commit to a simultaneous participation game. The fifth chapter is devoted to the structural analysis of the private value auction model for a single-unit when the econometrician can not observe bidders' identities. The asymmetric independent private value (IPV) model is identified. A multi-step kernel-based estimator is proposed and shown to be asymptotically optimal. Using auctions data for the anglo-french electric Interconnector, the last chapter analyses a multi-unit ascending auctions through reduced forms. (author)

Revenue and efficiency in multi-unit uniform-price auctions

Czech Academy of Sciences Publication Activity Database

Břeský, Michal

2013-01-01

Roč. 82, November (2013), s. 205-217 ISSN 0899-8256 R&D Projects: GA ČR(CZ) GAP402/11/1531 Institutional support: RVO:67985998 Keywords : multi-unit auction * multiple-object auction * market efficiency Subject RIV: AH - Economics Impact factor: 1.025, year: 2013

Competition in decentralized electricity markets: Three papers on electricity auctions

Science.gov (United States)

Harbord, David William Cameron

This thesis consists of three self-contained papers on the analysis of electricity auctions written over a period of twelve years. The first paper models price competition in a decentralized wholesale market for electricity as a first-price, sealed-bid, multi-unit auction. In both the pure and mixed-strategy equilibria of the model, above marginal cost pricing and inefficient despatch of generating units occur. An alternative regulatory pricing rule is considered and it is shown that offering to supply at marginal cost can be induced as a dominant strategy for all firms. The second paper analyses strategic interaction between long-term contracts and price competition in the British electricity wholesale market, and confirms that forward contracts will tend to put downward pressure on spot market prices. A 'strategic commitment' motive for selling forward contracts is also identified: a generator may commit itself to bidding lower prices into the spot market in order to ensure that it will be despatched with its full capacity. The third paper characterizes bidding behavior and market outcomes in uniform and discriminatory electricity auctions. Uniform auctions result in higher average prices than discriminatory auctions, but the ranking in terms of productive efficiency is ambiguous. The comparative effects of other market design features, such as the number of steps in suppliers' bid functions, the duration of bids and the elasticity of demand are analyzed. The paper also clarifies some methodological issues in the analysis of electricity auctions. In particular we show that analogies with continuous share auctions are misplaced so long as firms are restricted to a finite number of bids.

Homomorphic encryption and secure comparison

DEFF Research Database (Denmark)

Damgård, Ivan Bjerre; Geisler, Martin; Krøigaard, Mikkel

2008-01-01

Computation (MPC). We show how our comparison protocol can be used to improve security of online auctions, and demonstrate that it is efficient enough to be used in practice. For comparison of 16 bits numbers with security based on 1024 bits RSA (executed by two parties), our implementation takes 0.28 sec......We propose a protocol for secure comparison of integers based on homomorphic encryption.We also propose a homomorphic encryption scheme that can be used in our protocol, makes it more efficient than previous solutions, and can also be used as the basis of efficient and general secure Multiparty...

Modelling of auctioning mechanism for solar photovoltaic capacity

Science.gov (United States)

Poullikkas, Andreas

2016-10-01

In this work, a modified optimisation model for the integration of renewable energy sources for power-generation (RES-E) technologies in power-generation systems on a unit commitment basis is developed. The purpose of the modified optimisation procedure is to account for RES-E capacity auctions for different solar photovoltaic (PV) capacity electricity prices. The optimisation model developed uses a genetic algorithm (GA) technique for the calculation of the required RES-E levy (or green tax) in the electricity bills. Also, the procedure enables the estimation of the level of the adequate (or eligible) feed-in-tariff to be offered to future RES-E systems, which do not participate in the capacity auctioning procedure. In order to demonstrate the applicability of the optimisation procedure developed the case of PV capacity auctioning for commercial systems is examined. The results indicated that the required green tax, in order to promote the use of RES-E technologies, which is charged to the electricity customers through their electricity bills, is reduced with the reduction in the final auctioning price. This has a significant effect related to the reduction of electricity bills.

Efficient Double Auction Mechanisms in the Energy Grid with Connected and Islanded Microgrids

Science.gov (United States)

Faqiry, Mohammad Nazif

The future energy grid is expected to operate in a decentralized fashion as a network of autonomous microgrids that are coordinated by a Distribution System Operator (DSO), which should allocate energy to them in an efficient manner. Each microgrid operating in either islanded or grid-connected mode may be considered to manage its own resources. This can take place through auctions with individual units of the microgrid as the agents. This research proposes efficient auction mechanisms for the energy grid, with is-landed and connected microgrids. The microgrid level auction is carried out by means of an intermediate agent called an aggregator. The individual consumer and producer units are modeled as selfish agents. With the microgrid in islanded mode, two aggregator-level auction classes are analyzed: (i) price-heterogeneous, and (ii) price homogeneous. Under the price heterogeneity paradigm, this research extends earlier work on the well-known, single-sided Kelly mechanism to double auctions. As in Kelly auctions, the proposed algorithm implements the bidding without using any agent level private infor-mation (i.e. generation capacity and utility functions). The proposed auction is shown to be an efficient mechanism that maximizes the social welfare, i.e. the sum of the utilities of all the agents. Furthermore, the research considers the situation where a subset of agents act as a coalition to redistribute the allocated energy and price using any other specific fairness criterion. The price homogeneous double auction algorithm proposed in this research ad-dresses the problem of price-anticipation, where each agent tries to influence the equilibri-um price of energy by placing strategic bids. As a result of this behavior, the auction's efficiency is lowered. This research proposes a novel approach that is implemented by the aggregator, called virtual bidding, where the efficiency can be asymptotically maximized, even in the presence of price anticipatory bidders

Bandwidth auction for SVC streaming in dynamic multi-overlay

Science.gov (United States)

Xiong, Yanting; Zou, Junni; Xiong, Hongkai

2010-07-01

In this paper, we study the optimal bandwidth allocation for scalable video coding (SVC) streaming in multiple overlays. We model the whole bandwidth request and distribution process as a set of decentralized auction games between the competing peers. For the upstream peer, a bandwidth allocation mechanism is introduced to maximize the aggregate revenue. For the downstream peer, a dynamic bidding strategy is proposed. It achieves maximum utility and efficient resource usage by collaborating with a content-aware layer dropping/adding strategy. Also, the convergence of the proposed auction games is theoretically proved. Experimental results show that the auction strategies can adapt to dynamic join of competing peers and video layers.

Empirical Analysis of Competition in Procurement Auctions

OpenAIRE

Tukiainen, Janne

2008-01-01

A vast amount of public services and goods are contracted through procurement auctions. Therefore it is very important to design these auctions in an optimal way. Typically, we are interested in two different objectives. The first objective is efficiency. Efficiency means that the contract is awarded to the bidder that values it the most, which in the procurement setting means the bidder that has the lowest cost of providing a service with a given quality. The second objective is to maximize ...

Strategic Bidding in Hybrid CPC/CPM Auctions

OpenAIRE

Yi Zhu; Kenneth C. Wilbur

2008-01-01

Websites increasingly allow advertisers to choose whether to bid for advertising on a per-impression or per-click basis. We present the first analysis of this new hybrid auction market. The conventional wisdom in this industry is that brand advertisers (e.g., Coca-Cola) will bid for impressions, while direct response advertisers (e.g., Amazon.com) will bid for clicks. We find that in an auction setting similar to that used by Facebook and Google, brand advertisers may have an incentive to bid...

Auction Design for the Allocation of Emission Permits in the Presence of Market Power

International Nuclear Information System (INIS)

Sunnevaag, K.J.

2003-01-01

To the extent that emission permits have been allocated using market mechanisms, this has been done using a sealed-bid auction design, typically with discriminatory prices. However, several authors have recommended the ascending auction format. Basically, two 'competing' ascending auction designs have been suggested, the standard ascending auction (with clock or demand schedules), or an alternative ascending-clock implementation of Vickrey-pricing. The latter design was introduced as a response to problems of bid shading under the sealed-bid and the standard ascending auction format. The purpose of this paper is to investigate the allocation of permits under these two alternative mechanisms. The auction process and the resulting market outcome in the presence of oligopolistic competition are simulated. In this setting, it is not obvious that bid shading is the optimal strategy under the standard design, nor is it obvious that sincere bidding is the optimal strategy under the alternative ascending auction design. The alternative auction format makes it less costly to pursue a strategy to increase market shares through the acquisition of emission permits, thus increasing the competitor's costs, leading to overbidding as the optimal strategy

Price effects of sovereign debt auctions in the euro-zone: the role of the crisis

NARCIS (Netherlands)

Beetsma, R.; Giuliodori, M.; de Jong, F.; Widijanto, D.

2016-01-01

We show that new public debt issues cause an auction cycle for Italian secondary-market debt, but not for German debt. The cycle is mainly observed for the crisis period since mid-2007 and is larger when the crisis, as measured by yield volatility and CDS spreads of primary dealers, is more intense.

Price effects of sovereign debt auctions in the Euro-zone : The role of the crisis

NARCIS (Netherlands)

Beetsma, R.M.W.J.; Giuliodori, M.; de Jong, F.C.J.M.; Widijanto, D.

We show that new public debt issues cause an auction cycle for Italian secondary-market debt, but not for German debt. The cycle is mainly observed for the crisis period since mid-2007 and is larger when the crisis, as measured by yield volatility and CDS spreads of primary dealers, is more intense.

Quid Pro Quo in IPOs: Why Book-Building is Dominating Auctions

OpenAIRE

Degeorge, François; Derrien, Francois; Womack, Kent L

2004-01-01

The book-building procedure for selling initial public offerings to investors has captured significant market share from auction alternatives in recent years, despite significantly lower costs in both direct fees and initial underpricing when using the auction mechanism. This paper shows that in the French market, where the frequency of book-building and auctions was about equal in the 1990s, the ostensible advantages to the issuer using book-building were advertising-related quid pro quo ben...

A Pareto Optimal Auction Mechanism for Carbon Emission Rights

Directory of Open Access Journals (Sweden)

Mingxi Wang

2014-01-01

Full Text Available The carbon emission rights do not fit well into the framework of existing multi-item auction mechanisms because of their own unique features. This paper proposes a new auction mechanism which converges to a unique Pareto optimal equilibrium in a finite number of periods. In the proposed auction mechanism, the assignment outcome is Pareto efficient and the carbon emission rights’ resources are efficiently used. For commercial application and theoretical completeness, both discrete and continuous markets—represented by discrete and continuous bid prices, respectively—are examined, and the results show the existence of a Pareto optimal equilibrium under the constraint of individual rationality. With no ties, the Pareto optimal equilibrium can be further proven to be unique.

Implementation of Auctions for Renewable Energy Support in the Netherlands and Denmark: A cooperation case study

DEFF Research Database (Denmark)

Gephart, Malte; Kitzing, Lena; Tiedeman, Silvana

This report deals with the potential implementation of opened auctions for Renewable Energy support in the Netherlands from 2017 on. The report focuses on the implementation process and provides the necessary background information. Furthermore the planned auction design is described and discussed...... of success criteria, of appropriate auction formats and suitable design elements for RES auctions, as well as the analysis of past auction implementations....

Franchise Bidding in the Water Industry- Auction Schemes and Investment Incentives

OpenAIRE

Urs Meister

2004-01-01

The periodical re-auction of a water monopoly concession causes the danger of underinvestment. If the life-time of specific assets such as water pipes exceeds the contract length and transferring the ownership of assets is difficult, the incumbent franchisee faces a hold-up problem. Using a simple auction model that considers the specifics of the piped water sector this paper shows that investment incentives may vary depending on the applied auction scheme. The model is designed as a two stag...

Elicited Bid Functions in a (a)Symmetric First-Price Auctions

NARCIS (Netherlands)

Pezanis-Christou, P.; Sadrieh, A.

2003-01-01

We report on a series of experiments that examine bidding behavior in first-price sealed bid auctions with symmetric and asymmetric bidders.To study the extent of strategic behavior, we use an experimental design that elicits bidders complete bid functions in each round (auction) of the

The large-scale solar feed-in tariff reverse auction in the Australian Capital Territory, Australia

International Nuclear Information System (INIS)

Buckman, Greg; Sibley, Jon; Bourne, Richard

2014-01-01

Feed-in tariffs (FiTs) offer renewable energy developers significant investor certainty but sometimes at the cost of being misaligned with generation costs. Reverse FiT auctions, where the FiT rights for a predetermined capacity are auctioned, can overcome this problem but can be plagued by non-delivery risks, particularly of competitively priced proposals. In 2012 and 2013 the Australian Capital Territory (ACT) Government in Australia conducted a FiT reverse auction for 40 MW of large-scale solar generating capacity, the first such auction undertaken in the country. The auction was highly competitive in relation to price and demonstrating low delivery risks. Proposal capital costs, particularly engineering, procurement and construction costs, as well as internal rates of return, were lower than expected. The auction process revealed limited land availability for large-scale solar developments in the ACT as well as a significant perceived sovereign risk issue. The auction process was designed to mitigate non-delivery risk by requiring proposals to be pre-qualified on the basis of delivery risk, before considering FiT pricing. The scheme is likely to be used by the ACT Government to support further large-scale renewable energy development as part of its greenhouse gas reduction strategy which is underpinned by a 90-per cent-by-2020 renewable energy target. - Highlights: • Evolution of the reverse auction process in the Australian Capital Territory. • Analysis of the outcomes of the first Australian feed-in tariff reverse auction. • Identification of the major drivers of the low FiT prices achieved in the auction. • Identification of major issues that emerged in the auction

29 CFR 780.620 - Minimum wage for livestock auction work.

Science.gov (United States)

2010-07-01

... 29 Labor 3 2010-07-01 2010-07-01 false Minimum wage for livestock auction work. 780.620 Section 780.620 Labor Regulations Relating to Labor (Continued) WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR... for Exemption § 780.620 Minimum wage for livestock auction work. The application of the exemption is...

Strategic Bidding in Multi-Unit Auctions with Capacity Constrained Bidders

DEFF Research Database (Denmark)

Schwenen, Sebastian

2015-01-01

This article employs a simple model to describe bidding behavior in multi-unit uniform price procurement auctions when firms are capacity constrained. Using data from the New York City procurement auctions for power generating capacity, I find that firms use simple bidding strategies to coordinate......'s capacities and its profits of undercutting increase....

AUCTION MECHANISMS FOR IMPLEMENTING TRADABLE NETWORK PERMIT MARKETS

Science.gov (United States)

Wada, Kentaro; Akamatsu, Takashi

This paper proposes a new auction mechanism for implementing the tradable network permit markets. Assuming that each user makes a trip from an origin to a destination along a path in a specific time period, we design an auction mechanism that enables each user to purchase a bundle of permits corresponding to a set of links in the user's preferred path. The objective of the proposed mechanism is to achieve a socially optimal state with minimal revelation of users' private information. In order to achieve this, the mechanism employs an evolutionary approach that has an auction phase and a path capacity adjustment phase, which are repeated on a day-to-day basis. We prove that the proposed mechanism has the following desirable properties: (1) truthful bidding is the dominant strategy for each user and (2) the proposed mechanism converges to an approximate socially optimal state in the sense that the achieved value of the social surplus reaches its maximum value when the number of users is large.

Design and Promotion Strategy of Marketing Platform of Aquatic Auction based on Internet

Science.gov (United States)

Peng, Jianliang

For the online trade and promotion of aquatic products and related materials through the network between supply and demand, the design content and effective promotional strategies of aquatic auctions online marketing platform is proposed in this paper. Design elements involve the location of customer service, the basic function of the platform including the purchase of general orders, online auctions, information dissemination, and recommendation of fine products, human services, and payment preferences. Based on network and mobile e-commerce transaction support, the auction platform makes the transaction of aquatic products well in advance. The results are important practical value for the design and application of online marketing platform of aquatic auction.

On Revenue-Optimal Dynamic Auctions for Bidders with Interdependent Values

Science.gov (United States)

Constantin, Florin; Parkes, David C.

In a dynamic market, being able to update one's value based on information available to other bidders currently in the market can be critical to having profitable transactions. This is nicely captured by the model of interdependent values (IDV): a bidder's value can explicitly depend on the private information of other bidders. In this paper we present preliminary results about the revenue properties of dynamic auctions for IDV bidders. We adopt a computational approach to design single-item revenue-optimal dynamic auctions with known arrivals and departures but (private) signals that arrive online. In leveraging a characterization of truthful auctions, we present a mixed-integer programming formulation of the design problem. Although a discretization is imposed on bidder signals the solution is a mechanism applicable to continuous signals. The formulation size grows exponentially in the dependence of bidders' values on other bidders' signals. We highlight general properties of revenue-optimal dynamic auctions in a simple parametrized example and study the sensitivity of prices and revenue to model parameters.

Convergent Double Auction Mechanism for a Prosumers’ Decentralized Smart Grid

Directory of Open Access Journals (Sweden)

Tadahiro Taniguchi

2015-10-01

Full Text Available In this paper, we propose a novel automated double auction mechanism called convergent linear function submission-based double-auction (CLFS-DA for a prosumers’ decentralized smart grid. The target decentralized smart grid is a regional electricity network that consists of many prosumers that have a battery and a renewable energy-based generator, such as photovoltaic cells. In the proposed double-auction mechanism, each intelligent software agent representing each prosumer submits linear demand and supply functions to an automated regional electricity market where they are registered. It is proven that the CLFS-DA mechanism is guaranteed to obtain one of the global optimal price profiles in addition to it achieving an exact balance between demand and supply, even through the learning period. The proof of convergence is provided on the basis of the theory of LFS-DA, which gives a clear bridge between a function submission-based double auction and a dual decomposition (DD-based real-time pricing procedure. The performance of the proposed mechanism is demonstrated numerically through a simulation experiment.

A Sealed-Bid Two-Attribute Yardstick AuctionWithout Prior Scoring

DEFF Research Database (Denmark)

Leth Hougaard, Jens; Nielsen, Kurt; Papakonstantinou, Athanasios

2016-01-01

that following this type of equilibrium behavior often leads to winner’s curse. The simulations show that in auctions with more than 12 participants the chance of facing winner’s curse is around 95%. Truthful reporting, on the other hand, does not constitute a Nash equilibrium but it is ex post individually......We analyze a two-attribute single item procurement auction that uses yardstick competition to settle prices. The auction simplifies the procurement process by reducing the principal’s articulation of preferences to simply choosing the most preferred offer as if it was a market with posted prices...... rational. Using a simulation study we demonstrate that truthful bidding may indeed represent some kind of focal point....

Rigging the lobbying process: An application of the all-pay-auction

NARCIS (Netherlands)

M.R. Baye (Michael); D. Kovenock (Dan); C.G. de Vries (Casper)

1993-01-01

textabstractIn a world where a politician can explicitly auction off a prize to the high bidder, the standard auction literature can be used to analyse political behavior. The justice system, however, precludes politicians from explicitly selling the prize to the highest bidder. Thus politicians

A Classroom Auction with Externalities: Applied to Mergers and Acquisitions

Science.gov (United States)

Meister, J. Patrick; Anderson, Kyle J.

2007-01-01

The authors describe an in-class exercise in which students participate in an auction to buy US Airways. The exercise is based on events of late 1995, in which neither United nor American Airlines decided to bid for US Airways. Two teams of students participate in an English auction. Students learn that the equilibrium of the sequential game is…

Opening and Closing Price Efficiency: Do Financial Markets need the Call Auction?

OpenAIRE

Ibikunle, Gbenga

2015-01-01

We model 73.62 million London Stock Exchange (LSE) trades and show that the LSE’s high rate of failure to open at the opening auction only relates to low volume stocks. Low volume stock traders avoid trading until the open; this seems connected to their evading the informed trading-dominated opening auction. For the largest volume stocks, the opening auction provides highly efficient opening prices, while the lower volume stocks attain similar levels of price efficiency only after the start o...

Essays on empirical analysis of multi-unit auctions: Impacts of financial transmission rights on the restructured electricity industry

Science.gov (United States)

Zang, Hailing

This dissertation uses recently developed empirical methodologies for the study of multi-unit auctions to test the impacts of Financial Transmission Rights (FTRs) on the competitiveness of restructured electricity markets. FTRs are a special type of financial option that hedge against volatility in the cost of transporting electricity over the grid. Policy makers seek to use the prices of FTRs as market signals to incentivize efficient investment and utilization of transmission capacity. However, prices will not send the correct signals if market participants strategically use FTRs. This dissertation uses data from the Texas electricity market to test whether the prices of FTRs are efficient to achieve such goals. The auctions studied are multi-unit, uniform-price, sealed-bid auctions. The first part of the dissertation studies the auctions on the spot market of the wholesale electricity industry. I derive structural empirical models to test theoretical predictions as to whether bidders fully internalize the effect of FTRs on profits into their bidding decisions. I find that bidders are learning as to how to optimally bid above marginal cost for their inframarginal capacities. The bidders also learn to bid to include FTRs into their profit maximization problem during the course of the first year. But starting from the second year, they deviated from optimal bidding that includes FTRs in the profit maximization problems. Counterfactual analysis show that the primary effect of FTRs on market outcomes is changing the level of prices rather than production efficiency. Finally, I find that in most months, the current allocations of FTRs are statistically equivalent to the optimal allocations. The second part of the dissertation studies the bidding behavior in the FTR auctions. I find that FTRs' strategic impact on the FTR purchasing behavior is significant for large bidders---firms exercising market power in the FTR auctions. Second, trader forecasts future FTR credit

Agent Based Trust Management Model Based on Weight Value Model for Online Auctions

OpenAIRE

Sathiyamoorthy, E.; Iyenger, N. Ch. Sriman Narayana; Ramachandran, V.

2010-01-01

This paper is aimed at the stipulations which arise in the traditional online auctions as a result of various anomalies in the reputation and trust calculation mechanism. We try to improve the scalability andefficiency of the online auctions by providing efficient trust management methodology considering several factors into consideration. A comparison between the performance of the auctions system with and without the agent methodology is done with good results.

Pure equilibrium strategies in multi-unit auctions with private value bidders

Czech Academy of Sciences Publication Activity Database

Břeský, Michal

-, č. 376 (2008), s. 1-44 ISSN 1211-3298 Institutional research plan: CEZ:MSM0021620846 Keywords : multiple-unit auction * existence of equilibrium in discontinuous games * pay-your- bid and uniform-price auctions Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp376.pdf

Combinatorial auctions for electronic business

Indian Academy of Sciences (India)

R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

(6) Information feedback: An auction protocol may be a direct mechanism or an .... transparency of allocation decisions arise in resolving these ties. .... bidding, however more recently, combinatorial bids are allowed [50] making ...... Also, truth revelation and other game theoretic considerations are not taken into account.

Sets in Excess Demand in Ascending Auctions with Unit-Demand Bidders

NARCIS (Netherlands)

Andersson, T.D.; Andersson, C.; Talman, A.J.J.

2010-01-01

This paper analyzes the problem of selling a number of indivisible items to a set of unitdemand bidders. An ascending auction mechanism called the Excess Demand Ascending Auction (EDAA) is defined. The main results demonstrate that EDAA terminates in a finite number of iterations and that the exact

Application for Single Price Auction Model (SPA) in AC Network

Science.gov (United States)

Wachi, Tsunehisa; Fukutome, Suguru; Chen, Luonan; Makino, Yoshinori; Koshimizu, Gentarou

This paper aims to develop a single price auction model with AC transmission network, based on the principle of maximizing social surplus of electricity market. Specifically, we first formulate the auction market as a nonlinear optimization problem, which has almost the same form as the conventional optimal power flow problem, and then propose an algorithm to derive both market clearing price and trade volume of each player even for the case of market-splitting. As indicated in the paper, the proposed approach can be used not only for the price evaluation of auction or bidding market but also for analysis of bidding strategy, congestion effect and other constraints or factors. Several numerical examples are used to demonstrate effectiveness of our method.

Competitive bidding for health insurance contracts: lessons from the online HMO auctions.

Science.gov (United States)

Gupta, Alok; Parente, Stephen T; Sanyal, Pallab

2012-12-01

Healthcare is an important social and economic component of modern society, and the effective use of information technology in this industry is critical to its success. As health insurance premiums continue to rise, competitive bidding may be useful in generating stronger price competition and lower premium costs for employers and possibly, government agencies. In this paper, we assess an endeavor by several Fortune 500 companies to reduce healthcare procurement costs for their employees by having HMOs compete in open electronic auctions. Although the auctions were successful in generating significant cost savings for the companies in the first year, i.e., 1999, they failed to replicate the success and were eventually discontinued after two more years. Over the past decade since the failed auction experiment, effective utilization of information technologies have led to significant advances in the design of complex electronic markets. Using this knowledge, and data from the auctions, we point out several shortcomings of the auction design that, we believe, led to the discontinuation of the market after three years. Based on our analysis, we propose several actionable recommendations that policy makers can use to design a sustainable electronic market for procuring health insurance.

Former Auctioneer Finds Voice After Aphasia

Science.gov (United States)

... Aphasia Follow us Former Auctioneer Finds Voice After Aphasia Speech impairment changed his life One unremarkable September ... 10 Tips for Communicating with Someone who has Aphasia Talk to them in a quiet, calm, relaxed ...

Identification of shareholder ethics and responsibilities in online reverse auctions for construction projects.

Science.gov (United States)

Hatipkarasulu, Yilmaz; Gill, James H

2004-04-01

The increasing number of companies providing internet services and auction tools helped popularize the online reverse auction trend for purchasing commodities and services in the last decade. As a result, a number of owners, both public and private, accepted the online reverse auctions as the bidding technique for their construction projects. Owners, while trying to minimize their costs for construction projects, are also required to address their ethical responsibilities to the shareholders. In the case of online reverse auctions for construction projects, the ethical issues involved in the bidding technique directly reflects on the owner's ethical and social responsibilities to their shareholders. The goal of this paper is to identify the shareholder ethics and responsibilities in online reverse auctions for construction projects by analyzing the ethical issues for the parties involved in the process. The identification of the ethical issues and responsibilities requires clear definition and understanding of professional ethics and the roles of the involved parties. In this paper, first, the concept of professional ethics and social responsibility is described in a general form. To illustrate the ethical issues and responsibilities, a sample case of bidding for a construction project using online reverse auction techniques is presented in which the shareholders were actively involved in questioning the ethical issues. The issues involved in the bidding process and their reflection on the shareholder responsibilities are described and analyzed for each stage of the process. A brief discussion of the overall process is also included to address the general ethical issues involved in online reverse auctions.

Auction development for the price-based electric power industry

Science.gov (United States)

Dekrajangpetch, Somgiat

The restructuring of the electric power industry is to move away from the cost-based monopolistic environment of the past to the priced-based competitive environment. As the electric power industry is restructuring in many places, there are still many problems that need to be solved. The work in this dissertation contributes to solve some of the electric power auction problems. The majority of this work is aimed to help develop good markets. A LaGrangian relaxation (LR) Centralized Daily Commitment Auction (CDCA) has been implemented. It has been shown that the solution might not be optimal nor fair to some generation companies (GENCOs) when identical or similar generating units participate in a LR CDCA based auction. Supporting information for bidding strategies on how to change unit data to enhance the chances of bid acceptance has been developed. The majority of this work is based on Single Period Commodity Auction (SPCA). Alternative structures for the SPCA are outlined. Whether the optimal solution is degenerated is investigated. Good pricing criteria are summarized and the pricing method following good pricing criteria is developed. Electricity is generally considered as a homogeneous product. When availability level is used as additional characteristic to distinct electricity, electricity can be considered a heterogeneous product. The procedure to trade electricity as a heterogeneous product is developed. The SPCA is formulated as a linear program. The basic IPLP algorithm has been extended so that sensitivity analysis can be performed as in the simplex method. Sensitivity analysis is used to determine market reach. Additionally, sensitivity analysis is used in combination with the investigation of historical auction results to provide raw data for power system expansion. Market power is a critical issue in electric power deregulation. Firms with market power have an advantage over other competitor firms in terms of market reach. Various approaches to

Do auctions and forced divestitures increase competition? Evidence for retail gasoline markets

NARCIS (Netherlands)

Soetevent, A.R.; Haan, M.A.; Heijnen, P.

2008-01-01

Where markets are insufficiently competitive, governments can intervene by auctioning licenses to operate or by forcing divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for highway gasoline stations and forcing the divestiture of outlets of

Report on the behalf of the Foreign Affairs, Defence and Armed Forces Commission on: the bill project (accelerated procedure) authorizing the ratification of the joint procurement agreement for a designation by auction of common bid platforms, and the bill project (accelerated procedure) authorizing the ratification of the joint procurement agreement for a designation by auction of an auction monitor. Nr 171

International Nuclear Information System (INIS)

Boulaud, Didier

2011-01-01

This document first presents the currently operating greenhouse gas emission quota trading scheme and its evolution according to which quotas will be put up for auction. Then, it more precisely describes different aspects of this arrangement: general economy of the auction system, common auction platforms, auction monitor, and market procedures. Consequences on the French law are presented. The ratification procedure is discussed

77 FR 9655 - Mobility Fund Phase I Auction Updated List of Potentially Eligible Census Blocks

Science.gov (United States)

2012-02-17

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 12-25; DA 12-187] Mobility Fund Phase I Auction.... DATES: Pursuant to the Auction 901 (Mobility Fund Phase I) Comment Public Notice, 77 FR 7152, February... 9, 2012. ADDRESSES: Pursuant to the Auction 901 (Mobility Fund Phase I) Comment Public Notice, 77 FR...

Auction based spectrum management of cognitive radio networks

DEFF Research Database (Denmark)

Chang, H. B.; Chen, K.-C.; Prasad, Ramjee

2009-01-01

(PS-MSs), and we therefore construct a cognitive radio network (CRN) consisting of a PRN with multiple CR-MSs. We propose a spectrum management policy framework such that CR-MSs can compete in utilization of the PRN spectrum bands available to opportunistic transmission of CR-MSs by Vickrey auction...... to the PRN, the overall spectrum utilization, the profit of the service provider, the spectrum access opportunity of the CR-MSs are increased to achieve cowin situation for every party in cognitive radio networks.......Cognitive radio (CR) technology is considered as an effective solution to enhance overall spectrum efficiency, especially primary radio network (PRN) typically having relatively low spectrum utilization. However, to realize CR concept, it is essential to provide enough incentives to PRN and extra...

Potential benefits of selling by auction the CIP 6 energy

International Nuclear Information System (INIS)

Campidoglio, C.

2000-01-01

This paper analyses the potential benefits of selling by auction the CIP 6 energy. This would both reduce the supply shortage and the prices on the eligible market, increase competition on the contract-for-difference market, indicate a clear price to which regulated energy charges could be indexed, thus extending the auction benefits to the franchise market to avoid the reintroduction of cross-subsidies [it

Do auctions and forced divestitures increase competition? Evidence for retail gasoline markets

NARCIS (Netherlands)

Soetevent, A.R.; Haan, M.A.; Heijnen, P.

2014-01-01

To foster competition, governments can intervene by auctioning licenses to operate, or by imposing divestitures. The Dutch government has done exactly that, organizing auctions to redistribute tenancy rights for highway gasoline stations and imposing divestitures of such stations on the four major

Understanding overbidding: using the neural circuitry of reward to design economic auctions.

Science.gov (United States)

Delgado, Mauricio R; Schotter, Andrew; Ozbay, Erkut Y; Phelps, Elizabeth A

2008-09-26

We take advantage of our knowledge of the neural circuitry of reward to investigate a puzzling economic phenomenon: Why do people overbid in auctions? Using functional magnetic resonance imaging (fMRI), we observed that the social competition inherent in an auction results in a more pronounced blood oxygen level-dependent (BOLD) response to loss in the striatum, with greater overbidding correlated with the magnitude of this response. Leveraging these neuroimaging results, we design a behavioral experiment that demonstrates that framing an experimental auction to emphasize loss increases overbidding. These results highlight a role for the contemplation of loss in understanding the tendency to bid "too high." Current economic theories suggest overbidding may result from either "joy of winning" or risk aversion. By combining neuroeconomic and behavioral economic techniques, we find that another factor, namely loss contemplation in a social context, may mediate overbidding in auctions.

Least-Present-Value-of-Revenue Auctions and Highway Franchising

OpenAIRE

Eduardo M.R.A. Engel; Ronald D. Fischer; Alexander Galetovic

1998-01-01

In recent years several countries have started massive highway franchising programs auctioned to private firms. In these auctions, the regulator typically sets the franchise term and firms bid on tolls, or, alternatively, the regulator sets tolls and the winner is the firm that asks for the shortest franchise term. In this paper we argue that many of the problems that highway franchises have encountered are due to the fact that the franchise term cannot adjust to demand realizations. We propo...

Combining auctions and performance-based payments in a forest enrichment field trial in Western Kenya.

Science.gov (United States)

Khalumba, Mercelyne; Wünscher, Tobias; Wunder, Sven; Büdenbender, Mirjam; Holm-Müller, Karin

2014-06-01

Cost-effectiveness is an important aspect in the assessment of payments for environmental services (PES) initiatives. In participatory field trials with communities in Western Kenya, we combined procurement auctions for forest enrichment contracts with performance-based payments and compared the outcomes with a baseline scenario currently used by the Kenyan Forest Service. Procurement auctions were the most cost-effective. The competitive nature of the auction reduced contracting expenses (provision costs), and the result-oriented payments provided additional incentives to care for the planted seedlings, resulting in their improved survival rates (service quantity). These gains clearly exceeded increases in transaction costs associated with conducting an auction. The number of income-poor auction participants and winners was disproportionately high and local institutional buy-in was remarkably strong. Our participatory approach may, however, require adaptations when conducted at a larger scale. Although the number of contracts we monitored was limited and prohibited the use of statistical tests, our study is one of the first to reveal the benefits of using auctions for PES in developing countries. © 2014 Society for Conservation Biology.

What’s a Cricketer’s Worth? Predicting Bid Prices for Indian Premier League Auctions

Directory of Open Access Journals (Sweden)

Siddhartha K. RASTOGI

2017-04-01

Full Text Available Indian Premier League is a twenty-over format cricket tournament of teams representing different Indian cities. Beginning 2008, it is established now as a grand annual affair. The team franchises are auctioned on long term basis, whereas cricketers are auctioned every season under certain conditions. Despite such wealth of information, studies on IPL auctions are rare barring four cited models. The present paper studies the results of year 2011 English-style auction of cricketers and recalibrates the old yet most accurate model by Rastogi and Deodhar (2009. Both models use ordinary least square method of regression albeit with different variable. The old models lack predictive power, whereas the recalibrated model presented displays better predictive capability as compared to earlier models. It also succeeds in reducing overall predictability gap and stands significantly parsimonious vis-à-vis previous models. Further, the final model presented is applied on 2013 and 2014 auction data to show superior results.

Enabling secure and privacy preserving communications in smart grids

CERN Document Server

Li, Hongwei

2014-01-01

This brief focuses on the current research on security and privacy preservation in smart grids. Along with a review of the existing works, this brief includes fundamental system models, possible frameworks, useful performance, and future research directions. It explores privacy preservation demand response with adaptive key evolution, secure and efficient Merkle tree based authentication, and fine-grained keywords comparison in the smart grid auction market. By examining the current and potential security and privacy threats, the author equips readers to understand the developing issues in sma

The use of importance and performance analysis (IPA) to evaluate effectiveness of the forward auction market agro commodities: A case study

Science.gov (United States)

Wulansari, Dwi Ratna; Sutopo, Wahyudi; Hisjam, Muh.

2018-02-01

The empowering auction market for commodities in East Java Province is one of five auction market revitalization programs conducted by the Republic of Indonesia c.q. Ministry of Trading started in 2014. One of the districts in East Java Province, namely Magetan District utilizes the commodity auction market to improve the competitiveness of their agricultural industry by shortening the supply chain. The Magetan District needs to evaluate their support for farmers or farmer groups to participate in the forward auction market (FAM). Implementation of the FAM commodities is divided into three main processes, namely pre-auction, auction, and post-auction. The auction market is organized to shorten the trading chain. Implementation of the FAM requires good planning, among Seller (namely Farmer or Farmer Group), organizer of Auction (namely Commodity Auction Company), Buyer, and Local Government (namely the farmer facilitator). This article is aimed to develop the instrument of a Performance Measurement Model Using Important and Performance Analysis (IPA) for Improving the FAM Effectiveness of Agro Commodity from Magetan District with Supply Chain Management approach. IPA is implemented at pre-auction, auction, and post-auction. The IPA model results in the diagram to decide the strategies in improving the FAM effectiveness, and then it can encourage farmers to improve welfare and realize the competitiveness of the auctioneer.

Auction pricing of network access for North American railways

DEFF Research Database (Denmark)

Harrod, Steven

2013-01-01

The question of pricing train paths for "open access" railway networks in North America is discussed. An auction process is suggested as necessary to maintain transparency in the contracting process. Multiple random samples of auction pricing for a single track railway line demonstrate...... that the infrastructure entity will receive approximately 15.6% less than the true value of the contracted train paths. This loss of revenue threatens the objective of reducing government subsidy for the railway network. (C) 2012 Elsevier Ltd. All rights reserved....

Pricing strategies, the strength of bidding intentions, and online auction performance: a cross-cultural study.

Science.gov (United States)

Peng, Yu-Shu; Jan, Lih-Tsyr

2009-10-01

Over the past decade, electronic markets based on the Internet, particularly online auctions, have become popular venues for conducting business. Previous studies often focused on the construction of the best bidding model, while few studies have tried to integrate multiple pricing strategies to predict the probability of closing an auction and the price premium. This study constructs a mediated model to examine the relationship among pricing strategies, the strength of bidding intentions, and online auction performance. The sample consists of 1,055 auctions of iPod MP3 players from eBay Web sites in Hong Kong, Singapore, Belgium, and France. Empirical results show that the pricing strategies directly influence both the probability of closing an auction and the level of price premium. The pricing strategies also indirectly influence the price premium through the mediating effect of the strength of bidding intentions.

Point Climat no. 25 'Auction revenues in EU ETS Phase 3: a new public resource'

International Nuclear Information System (INIS)

Chevaleyre, Guillaume; Berghmans, Nicolas

2013-01-01

Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: As from 1 January 2013, auctions will become the main mode for distributing CO 2 allowances within the EU ETS. By 2020, almost one billion EUAs will be sold every year and generate income for Member States. Although sales of Phase 3 allowances have begun, uncertainty still surrounds the total amount of allowances to be auctioned. In particular, benchmark free allocations, the potential review of the auction timetable and the exemption of international flights from the EU ETS will impact the final amounts auctioned and the EUA price. These factors will affect the final auction revenues of each Member States differently. Government authorities will need to take account of the variability of this new financial resource

Market design and supply security in imperfect power markets

International Nuclear Information System (INIS)

Schwenen, Sebastian

2014-01-01

Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies on capacity markets increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market instead of the energy market. - Highlights: • I model two power generating firms who compete to serve stochastic demand in a multiunit uniform price auction. • In equilibrium, blackout probabilities can arise through capacity withholding. • Capacity mechanisms decrease capacity withholding and the expected energy price. • With dominant firms, capacity mechanisms are only effective if capacity prices are non-competitive and include a mark-up for leaving the energy-only market optimum

7 CFR 46.25 - Auction sales.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Auction sales. 46.25 Section 46.25 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE MARKETING OF PERISHABLE AGRICULTURAL COMMODITIES REGULATIONS (OTHER...

Recommendations on the role of auctions in a new renewable energy directive

DEFF Research Database (Denmark)

Kitzing, Lena; Islam, Marco; Soysal, Emilie Rosenlund

During the work in the AURES project, we have found evidence that auctions can be a suitable instrument for allocating support under budget and volume limitations and can achieve significant short-term efficiency gains, but it has not been proven that auctions in general are better suited to supp...

From Walras’ auctioneer to continuous time double auctions: a general dynamic theory of supply and demand

Science.gov (United States)

Donier, J.; Bouchaud, J.-P.

2016-12-01

In standard Walrasian auctions, the price of a good is defined as the point where the supply and demand curves intersect. Since both curves are generically regular, the response to small perturbations is linearly small. However, a crucial ingredient is absent of the theory, namely transactions themselves. What happens after they occur? To answer the question, we develop a dynamic theory for supply and demand based on agents with heterogeneous beliefs. When the inter-auction time is infinitely long, the Walrasian mechanism is recovered. When transactions are allowed to happen in continuous time, a peculiar property emerges: close to the price, supply and demand vanish quadratically, which we empirically confirm on the Bitcoin. This explains why price impact in financial markets is universally observed to behave as the square root of the excess volume. The consequences are important, as they imply that the very fact of clearing the market makes prices hypersensitive to small fluctuations.

Multi-Dimensional Customer Data Analysis in Online Auctions

Institute of Scientific and Technical Information of China (English)

LAO Guoling; XIONG Kuan; QIN Zheng

2007-01-01

In this paper, we designed a customer-centered data warehouse system with five subjects: listing, bidding, transaction,accounts, and customer contact based on the business process of online auction companies. For each subject, we analyzed its fact indexes and dimensions. Then take transaction subject as example,analyzed the data warehouse model in detail, and got the multi-dimensional analysis structure of transaction subject. At last, using data mining to do customer segmentation, we divided customers into four types: impulse customer, prudent customer, potential customer, and ordinary customer. By the result of multi-dimensional customer data analysis, online auction companies can do more target marketing and increase customer loyalty.

Retailers and consumers in sequential auctions of collectibles

DEFF Research Database (Denmark)

Vincent Lyk-Jensen, Stéphanie; Chanel, Olivier

2007-01-01

We analyse an independent private-value model, where heterogeneous bidders compete for objects sold in sequential second-price auctions. In this heterogeneous game, bidders may have differently distributed valuations, and some have multi-unit demand with decreasing marginal values (retailers......); others have a specific single-unit demand (consumers). By examining equilibrium bidding strategies and price sequences, we show that the presence of consumers leads to more aggressive bidding from the retailers on average and heterogeneous bidders is a plausible explanation of the price decline effect....... The study of the expected revenue of the seller confirms the interest of auctioneers in inviting different types of bidders...

Market power in cap-and-trade auctions: A Monte Carlo approach

International Nuclear Information System (INIS)

Dormady, Noah C.

2013-01-01

Recent greenhouse gas auctions have resulted in base level prices while remaining significantly concentrated. How do dominant firms receive such a large share of emissions allowances without bidding up the market price? This paper provides a Monte Carlo simulation analysis based on a contemporary regional greenhouse gas market in the United States. It introduces a C# simulation software environment, Oligopsony 1.0 that simulates uniform-price emissions auctions in repeated iterations. The results of these simulations indicate that there can be significant non-linearities between profit and market power as exercised through strategic demand reduction. This analysis finds the optimum point of strategic demand reduction that enables firms to exploit these non-linearities. The use of auctions to distribute tradeable pollution rights to firms in heavily concentrated markets can have significant unintended consequences, as it can exacerbate the problems of market power that exist within those markets. -- Highlights: •The theory of market power behavior in emissions auctions is furthered. •Monte Carlo simulation environment Oligopsony 1.0 is introduced. •Simulations provide analysis of optimum bids to exercise market power. •Significant non-linearities exist between profit and the exercise of market power

A theoretical analysis of procurement auctions for tertiary control in Germany

International Nuclear Information System (INIS)

Mueller, Gernot; Rammerstorfer, Margarethe

2008-01-01

As far as energy policy is concerned, the design of the regulatory framework for energy transmission and distribution is a key issue. Consequently, also the embodiment of balancing power markets drives mainly the effectiveness of political implications for the energy sector. Initially, tertiary control in Germany was solely offered by transmission system operators of the respective power control areas and their associated power plant. The recast of the Energy Industry Act of 2005 led in last consequence to a common procurement auction for the supply of tertiary control, which starts on December 1, 2006. Admittedly, the reform has fallen short of expectations so far, first concerning the intensification of market entry of tertiary control providers as well as the desired decline of the price level. Hence, this article examines the effects of the changeover on observable demand charges. In order to identify attributes of the common procurement auction for tertiary control hampering market entry of providers, giving stimuli to collusion and strategic behavior, reducing intensity of competition and encouraging an upswing of prices, we analyze the design under an auction theoretical approach and deduce empirically whether structural components of the auction design have to be touched up again

Mechanism design of reverse auction on concession period and generalized quality for PPP projects

Institute of Scientific and Technical Information of China (English)

Xianjia WANG; Shiwei WU

2017-01-01

Reverse auctions of PPP projects usually require the bid to specify several characteristics of quality and the concession period to be fulfilled.This paper sets up a summary function of generalized quality,which contributes to reducing the dimensions of information.Thus,the multidimensional reverse auction model of a PPP project can be replaced by a two-dimensional direct mechanism based on the concession period and the generalized quality.Based on the theory of the revelation principle,the feasibility conditions,equilibrium solution and generalized quality requirements of such a mechanism,considering the influence of a variable investment structure are described.Moreover,two feasible multidimensional reverse auctions for implementing such a direct mechanism:Adjusting the scoring function and establishing a special reverse auction rule are built.The analysis shows that in these types of reverse auctions,optimal allocation can be achieved,the social benefit under the incomplete information will be maximized,and the private sector with the highest integrated management level wins the bid.In such a direct mechanism,the investment and financial pressure of the public sector can be reduced.

Non-existence of Equilibria in Simultaneous Auctions with a Common Budget-Constraint

DEFF Research Database (Denmark)

Ghosh, Gagan

2015-01-01

I analyze an auction environment where two units of an object are sold at two simultaneous, sealed-bid, first-price auctions to bidders who have a one-dimensional type space, where a type represents the value a bidder places on each of the two units. All bidders have an identical budget constrain...

An Auction Market for Journal Articles

NARCIS (Netherlands)

Prüfer, J.; Zetland, D.

2007-01-01

Economic articles are published very slowly. We believe this results from the poor incentives referees face. We recommend that an auction market replace the current, push system for submitting papers and demonstrate that our proposed market has a stable, Pareto-improving equilibrium. Besides the

An Auction Market for Journal Articles

NARCIS (Netherlands)

Prüfer, J.; Zetland, D.

2007-01-01

Economic articles are published very slowly. We believe this results mainly from the poor incentives referees face. We recommend that an auction market replace the current system for submitting papers and demonstrate a strict Pareto-improvement of equilibrium. Besides the benefits of speed, this

A simplified multiattribute procurement auction with postponed scoring by a double revelation mechanism

DEFF Research Database (Denmark)

Hougaard, Jens Leth; Nielsen, Kurt

of linear scoring functions, consistent with the principal’s choice given linear preferences. The resulting scoring functions are used to score the original bids. While the highest score wins the second highest score settle the compensation. If the auction results in more than one highest scoring bid......, the Principal ends the auction by selecting the most preferred. The auction provides almost ideal incentives for bidders to reveal prices less than or equal to true cost. In general bidding below true cost involves a risk of getting a oss, nevertheless it may also both increase the chance of winning and result...

Second best efficiency and the English auction

Czech Academy of Sciences Publication Activity Database

Hernando-Veciana, Á.; Michelucci, Fabio

2011-01-01

Roč. 73, č. 2 (2011), s. 496-506 ISSN 0899-8256 Institutional research plan: CEZ:AV0Z70850503 Keywords : auctions * efficiency * mechanism design Subject RIV: AH - Economics Impact factor: 0.829, year: 2011

Privacy-Enhancing Auctions Using Rational Cryptography

DEFF Research Database (Denmark)

Miltersen, Peter Bro; Nielsen, Jesper Buus; Triandopoulos, Nikolaos

2009-01-01

show how to use rational cryptography to approximately implement any given ex interim individually strictly rational equilibrium of such an auction without a trusted mediator through a cryptographic protocol that uses only point-to-point authenticated channels between the players. By “ex interim...

The Pollution Effect: Optimizing Keyword Auctions by Favoring Relevant Advertising

OpenAIRE

Linden, Greg; Meek, Christopher; Chickering, Max

2011-01-01

Most search engines sell slots to place advertisements on the search results page through keyword auctions. Advertisers offer bids for how much they are willing to pay when someone enters a search query, sees the search results, and then clicks on one of their ads. Search engines typically order the advertisements for a query by a combination of the bids and expected clickthrough rates for each advertisement. In this paper, we extend a model of Yahoo's and Google's advertising auctions to inc...

Uncertain Reasoning for Detection of Selling Stolen Goods in Online Auctions Using Contextual Information

Directory of Open Access Journals (Sweden)

Ladislav Beranek

2014-01-01

Full Text Available This work describes the design of a decision support system for detection of fraudulent behavior of selling stolen goods in online auctions. In this system, each seller is associated with a type of certification, namely “proper seller,” “suspect seller,” and “selling stolen goods.” The certification level is determined on the basis of a seller’s behaviors and especially on the basis of contextual information whose origin is outside online auctions portals. In this paper, we focus on representing knowledge about sellers in online auctions, the influence of additional information available from other Internet source, and reasoning on bidders’ trustworthiness under uncertainties using Dempster-Shafer theory of evidence. To demonstrate the practicability of our approach, we performed a case study using real auction data from Czech auction portal Aukro. The analysis results show that our approach can be used to detect selling stolen goods. By applying Dempster-Shafer theory to combine multiple sources of evidence for the detection of this fraudulent behavior, the proposed approach can reduce the number of false positive results in comparison to approaches using a single source of evidence.

Combinatorial Auctions without Money

Science.gov (United States)

2014-05-01

istence of thresholds (a.k.a., critical prices) (for every set). The result in Theorem 3.4 relates to the characterization of truthful CAs with money and no...with money and no verification, each bidder optimizes her valu- ation minus the critical price over all her demanded sets; in the setting without money...auctions. ICALP, pp. 90-101, 2010. [2] P. Briest, P. Krysta, and B. Vöcking. Approximation techniques for utilitarian mechanism design. STOC, pp. 39-48

A False-name-Proof Double Auction Protocol for Arbitrary Evaluation Values

Science.gov (United States)

Sakurai, Yuko; Yokoo, Makoto

We develop a new false-name-proof double auction protocol called the Generalized Threshold Price Double auction (GTPD) protocol. False-name-proofness generalizes strategy-proofness by incorporating the possibility of false-name bids, e.g., bids submitted using multiple e-mail addresses. An existing protocol called TPD protocol is false-name-proof but can handle only the cases where marginal utilities of each agent always decrease, while our new GTPD protocol can handle arbitrary evaluation values. When marginal utilities can increase, some bids cannot be divided into a single unit (e.g., an all-or-nothing bid). Due to the existence of such indivisible bids, meeting supply/demand becomes difficult. Furthermore, a seller/buyer can submit a false-name-bid by pretending to be a potential buyer/seller to manipulate allocations and payments. In the GTPD protocol, the auctioneer is required to absorb the supply-demand imbalance up to a given upper-bound. Also, the GTPD incorporate a new false-name-proof one-sided auction protocol that is guaranteed to sell/buy a certain number of units. Simulation results show that when the threshold price is set appropriately, this protocol can obtain a good social surplus, and the number of absorbed units is much smaller than the given upper-bound.

The value of a public utility. Explanation of the auction of the Dutch utility Haarlemmermeer

International Nuclear Information System (INIS)

Voermans, F.

2000-01-01

The liberalisation of the natural gas sector and the energy sector in the Netherlands gives municipalities the opportunity to sell their energy companies. The municipality Haarlemmermeer was the first to have an international auction. In February Haarlemmermeer sold her utility for 242 million guilders to 'Westfaelische Gasversorgung' from Germany, despite the muttering of politics. Politicians prefer privatisation at a slow pace. The municipality gave the sale a long and hard thought and wasn't out to get the highest prize, as claimed by Rabo Securities, which accompanied the take-over of Haarlemmermeer. According to them the privatisation cannot be stopped and within five years all municipalities will have sold their shares

31 CFR 344.7 - What are Demand Deposit securities?

Science.gov (United States)

2010-07-01

... indebtedness. Funds invested in the ninety-day certificates of indebtedness earn simple interest equal to the... security shall bear a variable rate of interest based on an adjustment of the average yield for three-month... regular auction of three-month Treasury bills and is shown in the SLGS rate table. Interest is accrued and...

Sell by auction instead of giving away. A solution for the atomic conflict

International Nuclear Information System (INIS)

Frondel, Manuel; Schmidt, Christoph M.; Bochum Univ.

2010-01-01

Controversial as it may be, an extension of the limited operating permits granted to German nuclear power plants could benefit all interests involved: climate protection, security of supply and the efficiency of power production. Public acceptance of the contemplated extension is poor, but this need not be so. An intelligently organised auction could make it possible to sell permit extensions such that the additional profit made by electricity producers would largely be skimmed off and public revenue maximised. If the nuclear power dividend thus earned were to be wisely invested by the political leadership for society's future prosperity, the present nuclear power conflict could be transformed into a sustainable nuclear power consensus, for the benefit of the environment, consumers and the energy-dependent sectors of the economy.

Comparison of auctions and alternative policy options for RES-E support

DEFF Research Database (Denmark)

Kitzing, Lena; Islam, Marco; Fitch-Roy, Oscar

2016-01-01

benefits of RES, there may be valid reasons for policy makers not to employ auctions, since under particular circumstances it may be desirable not to control quantities but the price. As such, they raise the question whether pure support cost minimisation should be the only goal when implementing......This report concludes the work carried out in the course of Task 6.2 of the AURES project. It is its aim to compare auctions with alternative policy instruments and in particular, to examine under which circumstances auctions may be superior and inferior to achieve intended policy targets....... For that purpose, we identify a number of potential drivers that might affect an instrument’s effectiveness, its efficiency and further success criteria. Among this list of relevant drivers, the basis for our analysis is the factor risk, where our core focus is on risk for policy makers. Assuming a world...

Show me the goods: The warranting effect of user-generated photographs in online auctions

NARCIS (Netherlands)

Johnson, B.K.; Vang, M.H.; van der Heide, B.

2015-01-01

Consumers using online auction websites face the challenge of appraising products at a distance. Sellers and buyers in online auctions navigate this challenge by displaying and evaluating various cues, a critical one being use of photographs. Warranting theory predicts that cues less subject to

27 CFR 31.63 - Agents, auctioneers, brokers, etc., acting on behalf of others.

Science.gov (United States)

2010-04-01

..., brokers, etc., acting on behalf of others. 31.63 Section 31.63 Alcohol, Tobacco Products and Firearms... Exemptions and Exceptions Persons Who Are Not Dealers in Liquors Or Beer § 31.63 Agents, auctioneers, brokers... auction on behalf of others; (b) Agents or brokers who solicit orders for liquors in the name of a...

Green Auctions and Reduction of Information Rents in Payments for Environmental Services: An Experimental Investigation in Sunan County, Northwestern China

Science.gov (United States)

Deng, Xiaohong; Xu, Zhongmin

2015-01-01

Reducing information rents is an important task for government agencies wishing to purchase maximal environmental services with limited budgets. This paper reports on several green auction options for reducing information rents and improving the performance of the “Grain for Green” Payments for environmental services (PES) program implemented in northwestern China. In r experimental auctions and investigations, door-to-door interviews were conducted and bidding envelopes and survey questionnaires were used to determine the offers and the foregone profits of the participants. Three scenarios are analyzed in this paper: a uniform price auction, a discriminatory price auction, and an opportunity-cost system. The results show that compared to the uniform price auction system, the other auction systems can increase the cost-effectiveness of conservation contracting. Competitive bidding can reveal true opportunity costs and can reduce information rents extracted from the government by farmers using private information. The demographics and average bids of these auction types were also analyzed. “Perfect information” in the opportunity-cost offer system has the best performance but is very hard to implement in reality. The results of this research show that the auction is a valuable tool for purchasing conservation contracts in northwestern China, but that in the future, the performance of these auctions should be studied with relaxed model assumptions. PMID:25793263

Hiding information in open auctions with jump bids

Czech Academy of Sciences Publication Activity Database

Ettinger, D.; Michelucci, Fabio

2016-01-01

Roč. 126, č. 594 (2016), s. 1484-1502 ISSN 0013-0133 Institutional support: RVO:67985998 Keywords : hiding information * open auctions * jump bids Subject RIV: AH - Economics Impact factor: 2.608, year: 2016

A New Hybrid Algorithm to Solve Winner Determination Problem in Multiunit Double Internet Auction

Directory of Open Access Journals (Sweden)

Mourad Ykhlef

2015-01-01

Full Text Available Solving winner determination problem in multiunit double auction has become an important E-business task. The main issue in double auction is to improve the reward in order to match the ideal prices and quantity and make the best profit for sellers and buyers according to their bids and predefined quantities. There are many algorithms introduced for solving winner in multiunit double auction. Conventional algorithms can find the optimal solution but they take a long time, particularly when they are applied to large dataset. Nowadays, some evolutionary algorithms, such as particle swarm optimization and genetic algorithm, were proposed and have been applied. In order to improve the speed of evolutionary algorithms convergence, we will propose a new kind of hybrid evolutionary algorithm that combines genetic algorithm (GA with particle swarm optimization (PSO to solve winner determination problem in multiunit double auction; we will refer to this algorithm as AUC-GAPSO.

Market Design and Supply Security in Imperfect Power Markets

DEFF Research Database (Denmark)

Schwenen, Sebastian

2014-01-01

Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies oncapacity markets...... increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market...

Hiding information in open auctions with jump bids

Czech Academy of Sciences Publication Activity Database

Ettinger, D.; Michelucci, Fabio

2016-01-01

Roč. 126, č. 594 (2016), s. 1484-1502 ISSN 0013-0133 Institutional support: PRVOUK-P23 Keywords : hiding information * open auctions * jump bids Subject RIV: AH - Economics Impact factor: 2.608, year: 2016

Sellers' hedging incentives at EPA's emission trading auction

International Nuclear Information System (INIS)

Dijkstra, B.R.; Haan, M

1999-01-01

Cason (1993) argued that the auction the EPA (Environmental Protection Agency in the USA) used in order to start the market for sulfur allowances, is not efficient. The set-up of the auction gives both buyers and sellers an incentive to understate their valuation of an allowance. In this paper, we show that the sellers' incentives are even more perverse than Cason suggested. In particular, we show that sellers have an incentive to set their ask price equal to zero, while simultaneously hedging their bets by submitting a positive bid. It is not possible to derive the Nash equilibrium for this set-up. If such an equilibrium exists, sellers either set only a positive ask price, or an ask price equal to zero, and a positive bid as well. 14 refs

An auction game model for pool-based electricity markets

International Nuclear Information System (INIS)

Gan, Deqiang; Wang, Jianquan; Bourcier, Donald V.

2005-01-01

A single-period auction game model for analyzing strategic behavior in pool-based electricity markets is introduced in the paper. We study the Nash equilibrium in a pure strategy sense of such games. First an equilibrium existence lemma is proved. Equilibrium characterization under tight capacity constraints is provided. Then it is demonstrated that an auction game does not possess a pure strategy Nash equilibrium under a wide range of market conditions. The paper provides a characterization of equilibrium under weak capacity constraints. We apply the introduced results to analyze market power indices presented in our earlier work and in related reports. Applications to actual market analysis, as well as limitations of the introduced model are provided. (author)

29 CFR 516.13 - Livestock auction employees exempt from overtime pay requirements under section 13(b)(13) of the...

Science.gov (United States)

2010-07-01

... 29 Labor 3 2010-07-01 2010-07-01 false Livestock auction employees exempt from overtime pay....13 Livestock auction employees exempt from overtime pay requirements under section 13(b)(13) of the... employee is employed both in agriculture and in connection with livestock auction operations: (a) The total...

Sealed bid auctions with ambiguity: an experimental study

Czech Academy of Sciences Publication Activity Database

Chen, Y.; Katuščák, Peter; Ozdenoren, E.

-, č. 269 (2005), s. 1-75 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : sealed bid auctions * ambiguity * experiment Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp269.pdf

Mechanism Design for Multi-slot Ads Auction in Sponsored Search Markets

Science.gov (United States)

Deng, Xiaotie; Sun, Yang; Yin, Ming; Zhou, Yunhong

In this paper, we study pricing models for multi-slot advertisements, where advertisers can bid to place links to their sales webpages at one or multiple slots on a webpage, called the multi-slot AD auction problem. We develop and analyze several important mechanisms, including the VCG mechanism for multi-slot ads auction, the optimal social welfare solution, as well as two weighted GSP-like protocols (mixed and hybrid). Furthermore, we consider that forward-looking Nash equilibrium and prove its existence in the weighted GSP-like pricing protocols.

Mediators as the Walrasian Auctioneers of Exchange Theory

OpenAIRE

Dickenson, David

2003-01-01

This article opens up mediation to systematic economic analysis by considering mediators as analogous to the Walrasian auctioneers of exchange theory. By altering trade-off rates among bargaining issues, mediators facilitate a process leading towards Pareto efficient voluntary settlements.

Insider patent holder licensing in an oligopoly market with different cost structures: Fixed-fee, royalty, and auction

OpenAIRE

Ming-Chung Chang

2010-01-01

The issue of the optimal licensing contract in firms having different cost structures is studied when the innovator is a producing patent holder who has three alternative licensing strategies, namely, the fixed-fee, royalty rate, and auction strategies. We conclude that the auction licensing strategy is not the best strategy when the innovator is a producing patent holder. This finding differs from that of Kabiraj (2004) where the auction licensing method is the optimal licensing strategy whe...

The Role Of Product Quality Information, Market State Information And Transaction Costs In Electronic Auctions

NARCIS (Netherlands)

O.R. Koppius (Otto); H.W.G.M. van Heck (Eric)

2002-01-01

textabstractElectronic auctions have rapidly increased in popularity, but the consequences of switching to an electronic auction are unclear. In part this is because multiple changes occur at the same time so one can only observe the combined effect of these changes and not the effect of each

Three essays on corruption and auctions

OpenAIRE

PAPIOTI, Katerina Chara

2014-01-01

Defence date: 1 December 2014 Examining Board: Professor Massimo Morelli, Bocconi University, Supervisor; Professor Andrea Mattozzi, EUI; Professor Marco Celentani, Universidad Carlos III; Professor Matthias Dahm, University of Nottingham. This thesis contributes to the understanding of corruption and auctions. It consists of three chapters focusing on diverse aspects of these two general topics as well as their combinations, from an applied microeconomic theory perspective: (i) the eff...

Balloon popping with applications to ascending auctions

NARCIS (Netherlands)

N.S. Immorlica (Nicole Simone); A. Karlin; M. Mahdian (Mohammad); K. Talwar; A. Sinclair

2007-01-01

textabstractWe study the power of ascending auctions in a scenario in which a seller is selling a collection of identical items to anonymous unit-demand bidders. We show that even with full knowledge of the set of bidders' private valuations for the items, if the bidders are ex-ante identical, no

Price effects of sovereign debt auctions in the Euro-zone: the role of the crisis

NARCIS (Netherlands)

Beetsma, R.; de Jong, F.; Giuliodori, M.; Widijanto, D.

2013-01-01

Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements on

Sealed bid auctions with ambiguity: theory and experiments

Czech Academy of Sciences Publication Activity Database

Chen, Y.; Katuščák, Peter; Ozdenoren, E.

2007-01-01

Roč. 136, č. 1 (2007), s. 513-535 ISSN 0022-0531 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : sealed bid auctions * ambiguity * experiment Subject RIV: AH - Economics Impact factor: 1.353, year: 2007

Double-sided auction mechanism design in electricity based on maximizing social welfare

International Nuclear Information System (INIS)

Zou Xiaoyan

2009-01-01

An efficient electricity double-sided auction mechanism should control market power and enhance the social welfare of the electricity market. Based on this goal, the paper designs a new double-sided auction mechanism. In the new mechanism, the social welfare contribution of each participant plays a pivotal role, because this contribution is the critical factor in market clearing, payment settling, and transaction matching rules. In particular, each winner of the auction can gain transfer payments according to his contribution to social welfare in the electricity market, and this gives the mechanism the ability to control the market power of some participants. At the same time, this mechanism ensures that the market organizer balances his budget. We then conduct a theoretical and empirical analysis based on the Spanish electricity market. Both of the results show that compared to the uniform-pricing mechanism, the new mechanism can reduce market power of participants and enhance the social welfare of the electricity market.

Online Reverse Auctions: A Pricing Tool for Government Contracting

National Research Council Canada - National Science Library

Roll, Bruce

2000-01-01

Reverse Auctions (RA) are the next gene ration of procurement application software designed to link acquisition reform and common DoD procurement business processes with commercial best practices and advances in electronic commerce...

A Dynamic Pricing Reverse Auction-Based Resource Allocation Mechanism in Cloud Workflow Systems

Directory of Open Access Journals (Sweden)

Xuejun Li

2016-01-01

Full Text Available Market-oriented reverse auction is an efficient and cost-effective method for resource allocation in cloud workflow systems since it can dynamically allocate resources depending on the supply-demand relationship of the cloud market. However, during the auction the price of cloud resource is usually fixed, and the current resource allocation mechanisms cannot adapt to the changeable market properly which results in the low efficiency of resource utilization. To address such a problem, a dynamic pricing reverse auction-based resource allocation mechanism is proposed. During the auction, resource providers can change prices according to the trading situation so that our novel mechanism can increase the chances of making a deal and improve efficiency of resource utilization. In addition, resource providers can improve their competitiveness in the market by lowering prices, and thus users can obtain cheaper resources in shorter time which would decrease monetary cost and completion time for workflow execution. Experiments with different situations and problem sizes are conducted for dynamic pricing-based allocation mechanism (DPAM on resource utilization and the measurement of Time⁎Cost (TC. The results show that our DPAM can outperform its representative in resource utilization, monetary cost, and completion time and also obtain the optimal price reduction rates.

78 FR 65982 - Auction of H Block Licenses in the 1915-1920 MHz and 1995-2000 MHz Bands Rescheduled for January...

Science.gov (United States)

2013-11-04

... Filing Requirements, Reserve Price, Minimum Opening Bids, Upfront Payments, and Other Procedures for... procedures, reserve price, and minimum opening bids for the upcoming auction of H Block licenses (Auction 96... applicants with the procedures and other requirements for participation in the auction. [[Page 65983

Secure Key Management in the Cloud

DEFF Research Database (Denmark)

Damgård, Ivan Bjerre; Jakobsen, Thomas Pelle; Nielsen, Jesper Buus

2013-01-01

information such as cryptographic keys. Applications like this include many cases where secure multiparty computation is outsourced to the cloud, and in particular a number of online auctions and benchmark computations with confidential inputs. We consider fully autonomous servers that switch between online......We consider applications involving a number of servers in the cloud that go through a sequence of online periods where the servers communicate, separated by offline periods where the servers are idle. During the offline periods, we assume that the servers need to securely store sensitive...... and offline periods without communicating with anyone from outside the cloud, and semi-autonomous servers that need a limited kind of assistance from outside the cloud when doing the transition. We study the levels of security one can – and cannot – obtain in this model, propose light-weight protocols...

Bounded Rationality at Large: Technological Standards in Airwaves Auctions

NARCIS (Netherlands)

Bruggeman, J.P.; Visser, Hendrik Jan; Visser, H.J.; van Rossum, Wouter

2003-01-01

In industries characterized by several technological standards, each with positive network externalities, competition is different from industries with technologically "loosely coupled" organizations. We therefore expected that in airwaves auctions for mobile telephony in the U.S., network

Long-term contract auctions and market power in regulated power industries

International Nuclear Information System (INIS)

Soledad Arellano, M.; Serra, Pablo

2010-01-01

A number of countries with oligopolistic power industries have used marginal cost pricing to set the price of energy for small customers. This course of action, however, does not necessarily ensure an efficient outcome when competition is imperfect. The purpose of this paper is to study how the auction of long-term contracts could reduce market power. We do so in a two-firm, two-technology, linear-cost, static model where demand is summarized by a price inelastic load curve. In this context we show that the larger the proportion of total demand auctioned in advance, the lower are both the contract and the average spot price of energy.

Tendances Carbone no. 73 'Reforming the EU ETS, Act I: pushing back the allowance auction timetable'

International Nuclear Information System (INIS)

Alberola, Emilie

2012-01-01

Among the publications of CDC Climat Research, 'Tendances Carbone' bulletin specifically studies the developments of the European market for CO 2 allowances. This issue addresses the following points: On July 25 2012, the European Commission presented its first reform to re-calibrate the supply of allowances in EU ETS, via two proposals aimed at amending the ETS Directive and reviewing the auction regulations, in order to alter the auctioning timetable during the period between 2013 and 2020, with no legal risk. The aim is to withdraw a certain amount of the allowances auctioned in 2013, 2014 and 2015, in order to reintroduce that amount after 2018

Sealed-Bid Auction of Dutch Mussels : Statistical Analysis

NARCIS (Netherlands)

Kleijnen, J.P.C.; van Schaik, F.D.J.

2007-01-01

This article presents an econometric analysis of the many data on the sealed-bid auction that sells mussels in Yerseke town, the Netherlands. The goals of this analy- sis are obtaining insight into the important factors that determine the price of these mussels, and quantifying the performance of an

Sealed-bid auction of Netherlands mussels: statistical analysis

NARCIS (Netherlands)

Kleijnen, J.P.C.; van Schaik, F.D.J.

2011-01-01

This article presents an econometric analysis of the many data on the sealed-bid auction that sells mussels in Yerseke town, the Netherlands. The goals of this analysis are obtaining insight into the important factors that determine the price of these mussels, and quantifying the performance of an

Hipster Racism and Sexism in Charity Date Auctions: Individualism, Privilege Blindness and Irony in the Academy

Science.gov (United States)

Current, Cheris Brewer; Tillotson, Emily

2018-01-01

This paper follows one small, Christian university's five-year experience with student charity date auctions. The contemporary re-emergence of date auctions represents a backlash against gender and racial progress. Student leaders believe that in a post-racial and post-sexist society, race and gender are decontextualised neutral elements of…

Statistical mechanics of budget-constrained auctions

OpenAIRE

Altarelli, F.; Braunstein, A.; Realpe-Gomez, J.; Zecchina, R.

2009-01-01

Finding the optimal assignment in budget-constrained auctions is a combinatorial optimization problem with many important applications, a notable example being the sale of advertisement space by search engines (in this context the problem is often referred to as the off-line AdWords problem). Based on the cavity method of statistical mechanics, we introduce a message passing algorithm that is capable of solving efficiently random instances of the problem extracted from a natural distribution,...

A lesson from Argentina: Setting transmission tolls in a competitive auction is much better than regulating them

Energy Technology Data Exchange (ETDEWEB)

Galetovic, Alexander [Facultad de Ciencias Economicas y Empresariales, Av. San Carlos de Apoquindo 2200, Santiago (Chile); Inostroza, Juan Ricardo [AES Gener S.A., Sanchez Fontecilla 310, piso 3, Santiago (Chile)

2008-07-15

There are at least two procedures for setting the tolls paid by power line users. One consists of regulating them in a standard process. The other, which is used in Argentina, involves auctioning the lines to the lowest toll. In this paper we show that an auction yields higher expected social welfare if n {>=} 2 bid. Expected social welfare is even higher if, as in Argentina, those who benefit from the line can also bid and build. Moreover, when the social welfare is utilitarian, an auction beats regulation even when the regulator can perfectly audit costs ex post. We describe and examine the auction of the fourth Comahue transmission line in Argentina. Assuming that the regulator's information about costs is similar to the information held by the industry, the model suggests that had tolls been regulated, they would have been at least 61% higher. (author)

Multi-attribute Reverse Auction Design Based on Fuzzy Data Envelopment Analysis Approach

Directory of Open Access Journals (Sweden)

Deyan Chen

2017-08-01

Full Text Available Multi-attribute reverse auction is widely used for the procurements of enterprises or governments. To overcome the difficulty of identifying bidding attribute weight and score function of the buyer, the multi-round auction and bidding models with multiple winners are established based on fuzzy data envelopment analysis. The winner determination model of the buyer considers the integrated input-output efficiency of k winners. The bidding strategy of seller is divided into two parts: the first one estimates the weight of the ideal supplier that is thought to be the buyer’s preference; the second one is to calculate the weight of the test supplier which reflects the change trend of current weights and the seller’s weakness. The final predicted weight is the weighted sum of both. On the basis of known weight, the test supplier can improve his efficiency to increase the winning chance in the next round auction. Our models comprise crisp numbers and fuzzy numbers. Finally, a numerical example verifies the validity of the proposed models.

Lessons from the Electricity Auctions in Brazil

International Nuclear Information System (INIS)

Dutra, Joisa; Menezes, Flavio

2005-01-01

The first lesson to emerge from the recent auctions falls within a category that might be described as 'higher costs of reforms in developing economies.' These range from bidders' fears of future government-imposed price caps to technical issues, such as the potential loss of efficiency resulting from bidders' lack of knowledge about ceiling prices, reference supply, and the demand reduction mechanism

Innovations in Defense Acquisition Auctions: Lessons Learned and Alternative Mechanism Designs

National Research Council Canada - National Science Library

Coughlan, Peter; Gates, William; Lamping, Jennifer

2008-01-01

.... In general, reverse auctions have been limited to procurement actions involving relatively standard price-driven commercial products-products typically purchased through traditional competitive markets...

Security approaches in using tablet computers for primary data collection in clinical research.

Science.gov (United States)

Wilcox, Adam B; Gallagher, Kathleen; Bakken, Suzanne

2013-01-01

Next-generation tablets (iPads and Android tablets) may potentially improve the collection and management of clinical research data. The widespread adoption of tablets, coupled with decreased software and hardware costs, has led to increased consideration of tablets for primary research data collection. When using tablets for the Washington Heights/Inwood Infrastructure for Comparative Effectiveness Research (WICER) project, we found that the devices give rise to inherent security issues associated with the potential use of cloud-based data storage approaches. This paper identifies and describes major security considerations for primary data collection with tablets; proposes a set of architectural strategies for implementing data collection forms with tablet computers; and discusses the security, cost, and workflow of each strategy. The paper briefly reviews the strategies with respect to their implementation for three primary data collection activities for the WICER project.

Electronic Reverse Auctions: Integrating an E-Sourcing Tool into a Sales and Purchasing Cross-Course Negotiation Project

Science.gov (United States)

Williams, Jacqueline A.; Dobie, Kathryn

2011-01-01

Electronic reverse auctions are increasingly being used by firms to improve firm financial and operational performance. The described teaching innovation serves as a model for introducing electronic reverse auctions as a central element in a comprehensive negotiation exercise involving sales management and purchasing management students. Results…

76 FR 76174 - Request for Information on the State of the Offshore Renewable Energy Industry-Auction Format...

Science.gov (United States)

2011-12-06

... ``Multiple Factor Auctions,'' in which non- financial considerations are taken into account at the outset. If... tends to award leases to developers with good financial backing. Because the winning bidders would need... variations of the package auction format merit consideration for leasing packages of lots for offshore...

Set-Asides and Subsidies in Auctions

OpenAIRE

Susan Athey; Dominic Coey; Jonathan Levin

2011-01-01

Set-asides and subsidies are used extensively in government procurement and natural resource sales. We analyze these policies in an empirical model of U.S. Forest Service timber auctions. The model fits the data well both within the sample of unrestricted sales where we estimate the model, and when we predict (out of sample) bidder entry and prices for small business set-asides. Our estimates suggest that restricting entry to small businesses substantially reduces efficiency and revenue, alth...

Lower costs as a result of auctioning of emission rights

International Nuclear Information System (INIS)

De Bruyn, S.; Davidson, M.; Korteland, M.

2008-01-01

According to economic theory auctioning of emission allowances is not more efficient than free allocation. Free allocation of emission allowances in Europe involves product subsidy, thus removing the incentive for emission reduction. [mk] [nl

Comparisons of auction mechanisms in a multiple unit setting: A consideration for restructuring electric power markets

Science.gov (United States)

Bernard, John Charles

The objective of this study was to compare the performance of five single sided auctions that could be used in restructured electric power markets across different market sizes in a multiple unit setting. Auction selection would profoundly influence an industry over $200 billion in size in the United States, and the consequences of implementing an inappropriate mechanism would be great. Experimental methods were selected to analyze the auctions. Two rounds of experiments were conducted, the first testing the sealed offer last accepted offer (LAO) and first rejected offer (FRO), and the clock English (ENG) and sealed offer English (SOE) in markets of sizes two and six. The FRO, SOE, and ENG used the same pricing rule. Second round testing was on the LAO, FRO, and the nonuniform price multiple unit Vickrey (MUV) in markets of sizes two, four, and six. Experiments lasted 23 and 75 periods for rounds 1 and 2 respectively. Analysis of variance and contrast analysis were used to examine the data. The four performance measures used were price, efficiency, profits per unit, and supply revelation. Five basic principles were also assessed: no sales at losses, all low cost capacity should be offered and sold, no high cost capacity should sell, and the market should clear. It was expected group size and auction type would affect performance. For all performance measures, group size was a significant variable, with smaller groups showing poorer performance. Auction type was significant only for the efficiency performance measure, where clock auctions outperformed the others. Clock auctions also proved superior for the first four principles. The FRO performed poorly in almost all situations, and should not be a preferred mechanism in any market. The ENG was highly efficient, but expensive for the buyer. The SOE appeared superior to the FRO and ENG. The clock improves efficiency over the FRO while less information kept prices under the ENG. The MUV was superior in revealing costs

75 FR 56533 - Wireless Telecommunications Bureau Postpones Auction of 218-219 MHz Service and Phase II 220 MHz...

Science.gov (United States)

2010-09-16

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 10-107; DA 10-1630] Wireless Telecommunications... Auction 89. FOR FURTHER INFORMATION CONTACT: Wireless Telecommunications Bureau, Auctions and Spectrum... by the Chief, Wireless Telecommunications Bureau pursuant to authority delegated by 47 CFR 0.131...

31 CFR 356.5 - What types of securities does the Treasury auction?

Science.gov (United States)

2010-07-01

... years. (2) Treasury inflation-protected notes. (i) Are issued with a stated rate of interest to be... more than ten years. (2) Treasury inflation-protected bonds. (i) Are issued with a stated rate of... part to distinguish such securities from “inflation-protected” securities. We refer to fixed-principal...

Computer-aided proofs for multiparty computation with active security

DEFF Research Database (Denmark)

Haagh, Helene; Karbyshev, Aleksandr; Oechsner, Sabine

2018-01-01

Secure multi-party computation (MPC) is a general cryptographic technique that allows distrusting parties to compute a function of their individual inputs, while only revealing the output of the function. It has found applications in areas such as auctioning, email filtering, and secure...... teleconference. Given its importance, it is crucial that the protocols are specified and implemented correctly. In the programming language community it has become good practice to use computer proof assistants to verify correctness proofs. In the field of cryptography, EasyCrypt is the state of the art proof...... public-key encryption, signatures, garbled circuits and differential privacy. Here we show for the first time that it can also be used to prove security of MPC against a malicious adversary. We formalize additive and replicated secret sharing schemes and apply them to Maurer's MPC protocol for secure...

Analysis on trust influencing factors and trust model from multiple perspectives of online Auction

Science.gov (United States)

Yu, Wang

2017-10-01

Current reputation models lack the research on online auction trading completely so they cannot entirely reflect the reputation status of users and may cause problems on operability. To evaluate the user trust in online auction correctly, a trust computing model based on multiple influencing factors is established. It aims at overcoming the efficiency of current trust computing methods and the limitations of traditional theoretical trust models. The improved model comprehensively considers the trust degree evaluation factors of three types of participants according to different participation modes of online auctioneers, to improve the accuracy, effectiveness and robustness of the trust degree. The experiments test the efficiency and the performance of our model under different scale of malicious user, under environment like eBay and Sporas model. The experimental results analysis show the model proposed in this paper makes up the deficiency of existing model and it also has better feasibility.

Application of auctions as a pricing mechanism for the interchange of electric power

International Nuclear Information System (INIS)

Post, D.L.; Coppinger, S.S.; Sheble, G.B.

1995-01-01

The expected move to a market-based electric power industry will significantly change electric utility operations. These changes will fundamentally alter the pricing of electric power. How this pricing will be accomplished is a key issue. Traditionally, embedded cost based methods have been used. Recently, spot-pricing has received attention as a possible approach in a market-based electric power environment. Another market-based approach is the use of auctions. This paper will present the application of a sequential sealed-bid and sealed-offer auction to the pricing of electric power by using linear programming

Bidding behaviour in multi-unit auctions – an experimental investigation

Czech Academy of Sciences Publication Activity Database

Engelmann, Dirk; Grimm, V.

2009-01-01

Roč. 119, č. 537 (2009), s. 855-882 ISSN 0013-0133 Institutional research plan: CEZ:AV0Z70850503 Keywords : multi-unit auctions * bidding behavior * laboratory experiments Subject RIV: AH - Economics Impact factor: 1.902, year: 2009

Reputation mechanism: From resolution for truthful online auctions to the model of optimal one-gambler problem

Energy Technology Data Exchange (ETDEWEB)

Bradonjic, Milan [Los Alamos National Laboratory

2009-01-01

In this paper we study reputation mechanisms, and show how the notion of reputation can help us in building truthful online auction mechanisms. From the mechanism design prospective, we derive the conditions on and design a truthful online auction mechanism. Moreover, in the case when some agents may lay or cannot have the real knowledge about the other agents reputations, we derive the resolution of the auction, such that the mechanism is truthful. Consequently, we move forward to the optimal one-gambler/one-seller problem, and explain how that problem is refinement of the previously discussed online auction design in the presence of reputation mechanism. In the setting of the optimal one-gambler problem, we naturally rise and solve the specific question: What is an agent's optimal strategy, in order to maximize his revenue? We would like to stress that our analysis goes beyond the scope, which game theory usually discusses under the notion of reputation. We model one-player games, by introducing a new parameter (reputation), which helps us in predicting the agent's behavior, in real-world situations, such as, behavior of a gambler, real-estate dealer, etc.

Efficient Nash Equilibrium Resource Allocation Based on Game Theory Mechanism in Cloud Computing by Using Auction.

Science.gov (United States)

Nezarat, Amin; Dastghaibifard, G H

2015-01-01

One of the most complex issues in the cloud computing environment is the problem of resource allocation so that, on one hand, the cloud provider expects the most profitability and, on the other hand, users also expect to have the best resources at their disposal considering the budget constraints and time. In most previous work conducted, heuristic and evolutionary approaches have been used to solve this problem. Nevertheless, since the nature of this environment is based on economic methods, using such methods can decrease response time and reducing the complexity of the problem. In this paper, an auction-based method is proposed which determines the auction winner by applying game theory mechanism and holding a repetitive game with incomplete information in a non-cooperative environment. In this method, users calculate suitable price bid with their objective function during several round and repetitions and send it to the auctioneer; and the auctioneer chooses the winning player based the suggested utility function. In the proposed method, the end point of the game is the Nash equilibrium point where players are no longer inclined to alter their bid for that resource and the final bid also satisfies the auctioneer's utility function. To prove the response space convexity, the Lagrange method is used and the proposed model is simulated in the cloudsim and the results are compared with previous work. At the end, it is concluded that this method converges to a response in a shorter time, provides the lowest service level agreement violations and the most utility to the provider.

77 FR 11115 - Mobility Fund Phase I Auction Limited Extension of Deadlines for Comments and Reply Comments on...

Science.gov (United States)

2012-02-24

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 12-25; DA 12-236] Mobility Fund Phase I Auction... the Mobility Fund Phase I Auction Limited Extension of Comment Deadlines Public Notice (Public Notice... respect to the potential eligibility of specific census blocks for Mobility Fund Phase I support by March...

49 CFR 599.402 - Requirements and limitations for salvage auctions that are consigned trade-in vehicles under the...

Science.gov (United States)

2010-10-01

... that are consigned trade-in vehicles under the CARS program. 599.402 Section 599.402 Transportation... SAVE ACT PROGRAM Disposal of Trade-in Vehicle § 599.402 Requirements and limitations for salvage auctions that are consigned trade-in vehicles under the CARS program. (a) The salvage auction must: (1...

78 FR 21355 - Tribal Mobility Fund Phase I Auction Scheduled for October 24, 2013; Comment Sought on...

Science.gov (United States)

2013-04-10

... unit is the basic unit that will be used to determine the winners in Auction 902 and to measure... Bureaus will measure coverage based on population rather than road miles. Under the auction design options...: EV-DO, EV-DO Rev A, UMTS/HSPA, HSPA+, WiMAX, and LTE. If the Mosaik data did not show such coverage...

Learning by investing: evidence from a naturally occurring auction

Czech Academy of Sciences Publication Activity Database

Hanousek, Jan; Kočenda, Evžen

2011-01-01

Roč. 19, č. 1 (2011), s. 125-149 ISSN 0967-0750 R&D Projects: GA ČR GA402/09/1595; GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : learning * naturally occurring auction * stock market Subject RIV: AH - Economics Impact factor: 0.679, year: 2011

Factors affecting the auction price of Veldram performance tested ...

African Journals Online (AJOL)

The popularity of these auctions for performance tested rams (89.4 % of rams sold) indicate that Veld tested rams were sought after by buyers. The sale price of 296 Veld tested Dorper rams sold between 1994 and 2001, covering seven different tests, were compared with their measured and observed performances.

On the economics of PURPA auctions. [Contracts between utilities and electricity producers in the USA

Energy Technology Data Exchange (ETDEWEB)

Bolle, Friedel (Energiewirtschaftliches Inst. an der Univ. zu Koeln (Germany))

1991-04-01

It is shown that, under certain conditions, Public Utility Regulatory Policies Act (PURPA) auctions in the USA theoretically lead to efficient contracts between utilities and producers of electricity. In contrast to normal auctions bidders compete with (potentially non-linear) revenue functions and with non-price attributes. In practice, there are tremendous difficulties in the evaluation of bids which result from the long duration of contracts and from the necessity to evaluate risks and non-price attributes. (author).

78 FR 68839 - Tribal Mobility Fund Phase I Auction Rescheduled for February 25, 2014; Notice of Changes to...

Science.gov (United States)

2013-11-15

... FEDERAL COMMUNICATIONS COMMISSION [AU Docket No. 13-53; DA 13-2057] Tribal Mobility Fund Phase I Auction Rescheduled for February 25, 2014; Notice of Changes to Auction 902 Schedule Following Resumption... up to $50 million in one-time Tribal Mobility Fund Phase I support, will be conducted on February 25...

Comparison of Group-Buying Online Auction and Posted Pricing Mechanism in an Uncertain Market

Institute of Scientific and Technical Information of China (English)

CHEN Jian; LIU Yunhui; SONG Xiping

2004-01-01

Demand uncertainty is a key factor for the seller's decision making, especially in the e-business environment, for the website to sell products through the online auction. In this paper, two kinds of demand uncertainties are considered: the consumer regime uncertainty and the inherent randomness of the market environment. Then, how to use a novel business model and group-buying auction (GBA) is analyzed in such a market environment. Based on the comparison of the GBA and the posted price mechanism, some conditions that favor the GBA are provided.

Intelligent Continuous Double Auction method For Service Allocation in Cloud Computing

Directory of Open Access Journals (Sweden)

Nima Farajian

2013-10-01

Full Text Available Market-oriented approach is an effective method for resource management because of its regulation of supply and demand and is suitable for cloud environment where the computing resources, either software or hardware, are virtualized and allocated as services from providers to users. In this paper a continuous double auction method for efficient cloud service allocation is presented in which i enables consumers to order various resources (services for workflows and coallocation, ii consumers and providers make bid and request prices based on deadline and workload time and in addition providers can tradeoff between utilization time and price of bids, iii auctioneers can intelligently find optimum matching by sharing and merging resources which result more trades. Experimental results show that proposed method is efficient in terms of successful allocation rate and resource utilization.

The influence of an online auction's product price and e-retailer reputation on consumers' perception, attitude, and behavioral intention.

Science.gov (United States)

Wu, Wann-Yih; Huang, Po-Ching; Fu, Chen-Su

2011-06-01

Online auctions combine the conventional auction model with information technology. However, information asymmetry within such auctions causes risks and uncertainties that influence consumer purchase intentions. In this study, a 2 (product price: high vs. low) × 2 (e-retailer reputation: high vs. low) experimental design was used to understand whether the product price and e-retailer reputation will influence consumers' perceived risk, attitude toward the website and purchase intention. The results of this study indicate that perceived risk negatively influences consumer attitude toward the website and online purchase intention, while consumer attitude toward the website positively influences purchase intention. Moreover, involvement moderates the influence of product price and e-retailer reputation only on social risk but does not have a significant effect on consumer attitude toward the website. This study contributes to a more comprehensive understanding of online auction users' behavior. Finally, the managerial implications, limitations and future research directions are also provided. © 2011 The Authors. Scandinavian Journal of Psychology © 2011 The Scandinavian Psychological Associations.

Analysis of a yearly multi-round, multi-period, multi-product transmission rights auction

International Nuclear Information System (INIS)

Ziogos, N.P.; Bakirtzis, A.G.

2008-01-01

A yearly multi-round, multi-period, multi-product transmission rights (TR) auction issuing both point-to-point Financial Transmission Rights (FTRs) and Flow-Gate Rights (FGRs) is studied in this paper. In each round the TR market participants (buyers or sellers) submit their bid or offer prices based on past energy market performance. A Locational Marginal Pricing (LMP) based energy market is assumed. The TR market participants' bid or offer prices reflect their expectation of the average annual LMP differences between withdrawal and injections points for FTRs and of the transmission link capacity prices for FGRs. The TR auction is performed in four rounds; in each round 25% of the entire system capability is awarded. TRs that are awarded in one round are modeled as fixed injections in subsequent rounds. Market participants that have acquired TRs in one round can sell them in subsequent rounds. A market participant can submit bids or offers for on-peak, off-peak or 24-h TRs. A three-area, nine-bus test system with six TR market participants is used for the analysis of the TR auction. (author)

Probabilistic properties of the continuous double auction

Czech Academy of Sciences Publication Activity Database

Šmíd, Martin

2012-01-01

Roč. 48, č. 1 (2012), s. 50-82 ISSN 0023-5954 R&D Projects: GA ČR GAP402/10/1610; GA ČR GAP402/10/0956; GA ČR(CZ) GA402/06/1417 Institutional research plan: CEZ:AV0Z10750506 Keywords : continuous double auction * limit order market * distribution Subject RIV: BB - Applied Statistics, Operational Research Impact factor: 0.619, year: 2012 http://library.utia.cas.cz/separaty/2012/E/smid-0372702.pdf

Capacity Allocation and Revenue Sharing in Airline Alliances: A Combinatorial Auction-Based Modeling

Directory of Open Access Journals (Sweden)

Ying-jing Gu

2017-01-01

Full Text Available This paper attempts to establish a framework to help airline alliances effectively allocate their seat capacity with the purpose of maximizing alliances’ revenue. By assuming the airline alliance as the auctioneer and seat capacity in an itinerary as lots, the combinatorial auction model is constructed to optimize the allocation of the seat, and the revenue sharing method is established to share revenue between partners by Vickrey-Clarke-Groves (VCG mechanism. The result of the numerical study shows that the seat capacity allocation is effective even without information exchanging completely and the twofold revenue shares method shows more excitation for the airlines.

Efficiency Intra-Cluster Device-to-Device Relay Selection for Multicast Services Based on Combinatorial Auction

Directory of Open Access Journals (Sweden)

Yong Zhang

2015-12-01

Full Text Available In Long Term Evolution-Advanced (LTE-A networks, Device-to-device (D2D communications can be utilized to enhance the performance of multicast services by leveraging D2D relays to serve nodes with worse channel conditions within a cluster. For traditional D2D relay schemes, D2D links with poor channel condition may be the bottleneck of system sum data rate. In this paper, to optimize the throughput of D2D communications, we introduce an iterative combinatorial auction algorithm for efficient D2D relay selection. In combinatorial auctions, the User Equipments (UEs that fails to correctly receive multicast data from eNodeB (eNB are viewed as bidders that compete for D2D relays, while the eNB is treated as the auctioneer. We also give properties of convergency and low-complexity and present numerical simulations to verify the efficiency of the proposed algorithm.

Auctioneers vs. commissaires-priseurs: The carnival mirror of profession regulation in the international art market

Directory of Open Access Journals (Sweden)

Elisabetta Lazzaro

2013-06-01

Full Text Available This paper is a comparative analysis of the recent evolution of the French and the Anglo-Saxon profession regulations of auctioneers in terms of entry barriers and exercise of the profession. Firstly, following Stephen and Love's (1999 framework of the regulation of legal profession, we highlight the differences between regulations focussing on different levels (entry restrictions, advertising, fees, fee contracts, and organisational form. We show that French commissaire-priseurs and Anglo-Saxon auctioneers are bounded to quite opposed rules, relating to both the level of regulation (licensing against registration or certification and the scope of this regulation. Secondly, we try to assess the success of these regulations in terms of economic efficiency by comparing the international markets shares of French and Anglo-Saxon auctioneers. We further highlight how a weak regulation can disturb prices mechanisms and, in some cases, favour speculation. The discussion of some emblematic scandals highlights distortions provoked by a strong, as well as a weak regulation

The implications of free allocation versus auctioning of EU ETS allowances for the power sector in the Netherlands

International Nuclear Information System (INIS)

Sijm, J.P.M.; Hers, J.S.; Lise, W.

2008-12-01

The main objective of the present study is to analyse the implications of shifting from free allocation to auctioning of EU ETS allowances (EUAs) for the power sector in the Netherlands. In order to achieve this objective, this study has used three methodological approaches, including theoretical, empirical and model analyses of the impact of free allocations versus auctioning of EUAs on the power sector, notably in the Netherlands. In addition, as Combined Heat and Power (CHP) plays a major role in the electricity sector of the Netherlands, the present study also pays some particular attention to the implications of shifting from free allocation to EUA auctioning for the CHP sector in the Netherlands

9 CFR 2.76 - Records: Operators of auction sales and brokers.

Science.gov (United States)

2010-01-01

..., DEPARTMENT OF AGRICULTURE ANIMAL WELFARE REGULATIONS Records § 2.76 Records: Operators of auction sales and... breed or type of animal; (ii) The sex of the animal; and (iii) The date of birth or approximate age; and...

Making Marketing Principles Tangible: Online Auctions as Living Case Studies

Science.gov (United States)

Wood, Charles M.; Suter, Tracy A.

2004-01-01

This article presents an effective course supplement for Principles of Marketing classes. An experiential project involving online auctions is offered to instructors seeking to create a more participatory student environment and an interactive teaching style. A number of learning points are illustrated that allow instructors to use an auction…

An Efficient Multi-Item Dynamic Auction with Budget Constrained Bidders

NARCIS (Netherlands)

Talman, A.J.J.; Yang, Z.F.

2011-01-01

An auctioneer wishes to sell several heterogeneous indivisible items to a group of potential bidders. Each bidder has valuations over the items but faces a budget constraint and may therefore not be able to pay up to his valuations. In such markets, a competitive equilibrium typically fails to

A Centralized Auction Mechanism for the Disability and Survivors Insurance in Chile

Science.gov (United States)

Reyes H., Gonzalo

As part of the pension reform recently approved in Chile, the government introduced a centralized auction mechanism to provide the Disability and Survivors (D&S) Insurance that covers recent contributors among the more than 8 million participants in the mandatory private pension system. This paper is intended as a case study presenting the main distortions found in the decentralized operation of the system that led to this reform and the challenges faced when designing a competitive auction mechanism to be implemented jointly by the Pension Fund Managers (AFP). In a typical bilateral contract the AFP retained much of the risk and the Insurance Company acted in practice as a reinsurer. The process to hire this contract was not competitive and colligated companies ended up providing the service. Several distortions affected competition in the market through incentives to cream-skim members by AFPs (since they bear most of the risk) or efforts to block disability claims. Since the price of this insurance is hidden in the fees charged by AFPs for the administration of individual accounts and pension funds there was lack of price transparency. Since new AFPs have no history of members’ disability and mortality profile the insurance contract acted as a barrier to entry in the market of AFP services, especially when D&S insurance costs reached 50% of total costs. Cross-subsidies between members of the same AFP, inefficient risk pooling (due to pooling occurring at the AFP rather than at the system level) and regulatory arbitrage, since AFPs provided insurance not being regulated as an insurance company, were also present. A centralized auction mechanism solves these market failures, but also gives raise to new challenges, such as how to design a competitive auction that attracts participation and deters collusion. Design features that were incorporated in the regulation to tackle these issues, such as dividing coverage into predefined percentage blocks, are presented

6 essays about auctions: a theoretical and empirical analysis. Application to power markets; 6 Essais sur les encheres: approches theorique et empirique. Application aux marches de l'electricite

Energy Technology Data Exchange (ETDEWEB)

Lamy, L

2007-06-15

This thesis is devoted to a theoretical and empirical analysis of auction mechanisms. Motivated by allocation issues in network industries, in particular by the liberalization of the electricity sector, it focus on auctions with externalities (either allocative or informational) and on multi-objects auctions. After an introduction which provides a survey of the use and the analysis of auctions in power markets, six chapters make this thesis. The first one considers standard auctions in Milgrom-Weber's model with interdependent valuations when the seller can not commit not to participate in the auction. The second and third chapters study the combinatorial auction mechanism proposed by Ausubel and Milgrom. The first of these two studies proposes a modification of this format with a final discount stage and clarifies the theoretical status of those formats, in particular the conditions such that truthful reporting is a dominant strategy. Motivated by the robustness issues of the generalizations of the Ausubel-Milgrom and the Vickrey combinatorial auctions to environments with allocative externalities between joint-purchasers, the second one characterizes the buyer-sub-modularity condition in a general model with allocative identity-dependent externalities between purchasers. In a complete information setup, the fourth chapter analyses the optimal design problem when the commitment abilities of the principal are reduced, namely she can not commit to a simultaneous participation game. The fifth chapter is devoted to the structural analysis of the private value auction model for a single-unit when the econometrician can not observe bidders' identities. The asymmetric independent private value (IPV) model is identified. A multi-step kernel-based estimator is proposed and shown to be asymptotically optimal. Using auctions data for the anglo-french electric Interconnector, the last chapter analyses a multi-unit ascending auctions through reduced forms. (author)

Encouraging information sharing to boost the name-your-own-price auction

Science.gov (United States)

Chen, Yahong; Li, Jinlin; Huang, He; Ran, Lun; Hu, Yusheng

2017-08-01

During a name-your-own-price (NYOP) auction, buyers can learn a lot of knowledge from their socially connected peers. Such social learning process makes them become more active to attend the auction and also helps them make decisions on what price to submit. Combining an information diffusion model and a belief decision model, we explore three effects of bidders' information sharing on the buyers' behaviors and the seller profit. The results indicate that information sharing significantly increases the NYOP popularity and the seller profit. When enlarging the quality or quantity of information sharing, or increasing the spreading efficiency of the network topology, the number of attenders and the seller profit are increased significantly. However, the spread of information may make bidders be more likely to bid higher and consequently lose surplus. In addition, the different but interdependent influence of the successful information and failure information are discussed in this work.

Using Priced Options to Solve the Exposure Problem in Sequential Auctions

Science.gov (United States)

Mous, Lonneke; Robu, Valentin; La Poutré, Han

This paper studies the benefits of using priced options for solving the exposure problem that bidders with valuation synergies face when participating in multiple, sequential auctions. We consider a model in which complementary-valued items are auctioned sequentially by different sellers, who have the choice of either selling their good directly or through a priced option, after fixing its exercise price. We analyze this model from a decision-theoretic perspective and we show, for a setting where the competition is formed by local bidders, that using options can increase the expected profit for both buyers and sellers. Furthermore, we derive the equations that provide minimum and maximum bounds between which a synergy buyer's bids should fall in order for both sides to have an incentive to use the options mechanism. Next, we perform an experimental analysis of a market in which multiple synergy bidders are active simultaneously.

A Hierarchical Auction-Based Mechanism for Real-Time Resource Allocation in Cloud Robotic Systems.

Science.gov (United States)

Wang, Lujia; Liu, Ming; Meng, Max Q-H

2017-02-01

Cloud computing enables users to share computing resources on-demand. The cloud computing framework cannot be directly mapped to cloud robotic systems with ad hoc networks since cloud robotic systems have additional constraints such as limited bandwidth and dynamic structure. However, most multirobotic applications with cooperative control adopt this decentralized approach to avoid a single point of failure. Robots need to continuously update intensive data to execute tasks in a coordinated manner, which implies real-time requirements. Thus, a resource allocation strategy is required, especially in such resource-constrained environments. This paper proposes a hierarchical auction-based mechanism, namely link quality matrix (LQM) auction, which is suitable for ad hoc networks by introducing a link quality indicator. The proposed algorithm produces a fast and robust method that is accurate and scalable. It reduces both global communication and unnecessary repeated computation. The proposed method is designed for firm real-time resource retrieval for physical multirobot systems. A joint surveillance scenario empirically validates the proposed mechanism by assessing several practical metrics. The results show that the proposed LQM auction outperforms state-of-the-art algorithms for resource allocation.

The value of information in explicit cross-border capacity auction regimes in electricity markets

International Nuclear Information System (INIS)

Richter, Jan; Viehmann, Johannes

2014-01-01

We study two electricity markets connected by a fixed amount of cross-border capacity. The total amount of capacity is known to all electricity traders and allocated via an auction. The capacity allocated to each bidder in the auction remains private information. We assume that traders are faced with a demand function reflecting the relationship between electricity transmitted between the markets and the spot price difference. Therefore, traders act like Bayesian–Cournot oligopolists in exercising their transmission rights when presented with incomplete information about the competitors’ capacities. Our analysis breaks down the welfare effect into three different components: Cournot behavior, capacity constraints, and incomplete information. We find that social welfare increases with the level of information with which traders are endowed. - Highlights: • We regard the utilization of explicitly auctioned cross-border capacities in electricity markets as a Bayesian Cournot game. • We analyze social welfare and find three forces diminishing it, (1) firms play a cournot game, (2) the presence of capacity constraints, (3) incomplete information. • We derive information regimes from “real world” examples and analyze their effect on social welfare

Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's

OpenAIRE

Ashenfelter, Orley C; Graddy, Kathryn

2004-01-01

The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked, and the economic conditions under which it was started and began to fall apart. The outcome of the case also provides evidence on the novel auction process used to choose the lead counsel for the civil settl...

A correction to 'efficient and secure comparison for on-line auctions'

DEFF Research Database (Denmark)

Damgård, Ivan Bjerre; Krøigaard, Mikkel; Geisler, Martin

2009-01-01

In this paper, we describe a correction to the cryptosystem proposed in Damgard et al. from Int. J. Applied Cryptography, Vol. 1, No. 1. Although, the correction is small and does not affect the performance of the protocols from Damgard et al., it is necessary, as the cryptosystem is not secure...

Multiagent model and mean field theory of complex auction dynamics

Science.gov (United States)

Chen, Qinghua; Huang, Zi-Gang; Wang, Yougui; Lai, Ying-Cheng

2015-09-01

Recent years have witnessed a growing interest in analyzing a variety of socio-economic phenomena using methods from statistical and nonlinear physics. We study a class of complex systems arising from economics, the lowest unique bid auction (LUBA) systems, which is a recently emerged class of online auction game systems. Through analyzing large, empirical data sets of LUBA, we identify a general feature of the bid price distribution: an inverted J-shaped function with exponential decay in the large bid price region. To account for the distribution, we propose a multi-agent model in which each agent bids stochastically in the field of winner’s attractiveness, and develop a theoretical framework to obtain analytic solutions of the model based on mean field analysis. The theory produces bid-price distributions that are in excellent agreement with those from the real data. Our model and theory capture the essential features of human behaviors in the competitive environment as exemplified by LUBA, and may provide significant quantitative insights into complex socio-economic phenomena.

Multiagent model and mean field theory of complex auction dynamics

International Nuclear Information System (INIS)

Chen, Qinghua; Wang, Yougui; Huang, Zi-Gang; Lai, Ying-Cheng

2015-01-01

Recent years have witnessed a growing interest in analyzing a variety of socio-economic phenomena using methods from statistical and nonlinear physics. We study a class of complex systems arising from economics, the lowest unique bid auction (LUBA) systems, which is a recently emerged class of online auction game systems. Through analyzing large, empirical data sets of LUBA, we identify a general feature of the bid price distribution: an inverted J-shaped function with exponential decay in the large bid price region. To account for the distribution, we propose a multi-agent model in which each agent bids stochastically in the field of winner’s attractiveness, and develop a theoretical framework to obtain analytic solutions of the model based on mean field analysis. The theory produces bid-price distributions that are in excellent agreement with those from the real data. Our model and theory capture the essential features of human behaviors in the competitive environment as exemplified by LUBA, and may provide significant quantitative insights into complex socio-economic phenomena. (paper)

Missing money and missing markets: Reliability, capacity auctions and interconnectors

International Nuclear Information System (INIS)

Newbery, David

2016-01-01

In the energy trilemma of reliability, sustainability and affordability, politicians treat reliability as over-riding. The EU assumes the energy-only Target Electricity Model will deliver reliability but the UK argues that a capacity remuneration mechanism is needed. This paper argues that capacity auctions tend to over-procure capacity, exacerbating the missing money problem they were designed to address. The bias is further exacerbated by failing to address some of the missing market problems also neglected in the debate. It examines the case for, criticisms of, and outcome of the first GB capacity auction and problems of trading between different capacity markets. - Highlights: •Energy-only markets can work if they avoid missing money and missing market problems. •Policy makers over-estimate the cost of so-called “loss of load events”. •Policy makers tend to over-procure capacity, exacerbating the missing money problem. •Rectifying missing market problems simplifies trade between different capacity markets. •Addressing missing market problems makes under-procurement cheaper than over-procurement.

Control and Assurance in E-Commerce: Privacy, Integrity and Security at eBay

OpenAIRE

Rong-Ruey Duh; Karim Jamal; Shyam NMI Sunder

2001-01-01

Growth of online auctions and other forms of e-commerce has been hampered by concerns about the privacy, integrity, and security of online transactions. To earn the trust of their participants, new e-commerce organizations, like traditional organizations, have to reach the state of expectations equilibrium or control - a state where the actual behavior of participants corresponds to what others expect them to do. Since e-commerce companies provide electronic platforms where buyers and sellers...

Budget constraints and optimization in sponsored search auctions

CERN Document Server

Yang, Yanwu

2013-01-01

The Intelligent Systems Series publishes reference works and handbooks in three core sub-topic areas: Intelligent Automation, Intelligent Transportation Systems, and Intelligent Computing. They include theoretical studies, design methods, and real-world implementations and applications. The series' readership is broad, but focuses on engineering, electronics, and computer science. Budget constraints and optimization in sponsored search auctions takes into account consideration of the entire life cycle of campaigns for researchers and developers working on search systems and ROI maximization

Report of the work group on modalities of selling and putting up for auction CO2 emission permits in France. Elements related to phase 3

International Nuclear Information System (INIS)

2009-01-01

The first part of this report shows that, despite recurring critics on the current emission permit price, the European market kept on maturing and proved its ability to reflect the evolution of fundamentals into prices. The second part shows that recent foreign experiences in putting up for auction CO 2 emission permits revealed convergencies as far as auction formats are concerned. The third part shows that the economic theory and these empirical experimental results support the idea of uniform auctions with a unique price accompanied with a reserved price. It discusses the evolution perspectives of these sales by auction, outlines that access to auctions should be opened to all industrial and financial actors, and the importance of the modalities of control and regulation of the emission permit market. It finally outlines and discusses the role France could play in the building up of a European platform and in the promotion of strictly harmonised rules

Electricity market auction settings in a future Danish electricity system with a high penetration of renewable energy sources - A comparison of marginal pricing and pay-as-bid

International Nuclear Information System (INIS)

Nielsen, Steffen; Sorknaes, Peter; Ostergaard, Poul Alberg

2011-01-01

The long-term goal for Danish energy policy is to be free of fossil fuels through the increasing use of renewable energy sources (RES) including fluctuating renewable electricity (FRE). The Danish electricity market is part of the Nordic power exchange, which uses a Marginal Price auction system (MPS) for the day-ahead auctions. The market price is thus equal to the bidding price of the most expensive auction winning unit. In the MPS, the FRE bid at prices of or close to zero resulting in reduced market prices during hours of FRE production. In turn, this reduces the FRE sources' income from market sales. As more FRE is implemented, this effect will only become greater, thereby reducing the income for FRE producers. Other auction settings could potentially help to reduce this problem. One candidate is the pay-as-bid auction setting (PAB), where winning units are paid their own bidding price. This article investigates the two auction settings, to find whether a change of auction setting would provide a more suitable frame for large shares of FRE. This has been done with two energy system scenarios with different shares of FRE. From the analysis, it is found that MPS is generally better for the FRE sources. The result is, however, very sensitive to the base assumptions used for the calculations. -- Highlights: → In this study two different auction settings for the Danish electricity market are compared. → Two scenarios are used in the analyses, one representing the present system and one representing a future 100% renewable energy system. → We find that marginal price auction system is most suitable for supporting fluctuating renewable energy in both scenarios. → The results are very sensitive to the assumptions about bidding prices for each technology.

Investing EU ETS auction revenues into energy savings

Energy Technology Data Exchange (ETDEWEB)

Sijm, J.P.M.; Boonekamp, P.G.M. [ECN Policy Studies, Petten (Netherlands); Summerton, P.; Pollitt, H.; Billington, S. [Cambridge Econometrics CE, Cambridge (United Kingdom)

2013-05-15

The overall objective of this study is to analyse the effects of using EU ETS auction revenues to stimulate investments in energy savings in three key target sectors, i.e. Households, Tertiary and Industry (including both ETS and non-ETS industrial installations). The scenarios used refer basically to the situation before the recent agreement on the Energy Efficiency Directive (EED) and include (a mixture of) different policy options to enhance energy savings in the target sectors, in particular (1) reducing the ETS cap, (2) introducing an Energy Efficiency Obligation (EEO) for energy suppliers or distributors, and/or (3) using ETS auction revenues to support additional (private) investments in raising energy efficiency. In order to meet this objective a variety of different policy scenarios have been defined and analysed by means of the 'Energy-Environment-Economy Model for Europe (E3ME)'. The study presents and discusses a large variety of scenario modelling results by the year 2020 at the EU27 level. These results refer to, among others, energy savings, GHG emissions, the ETS carbon price, household electricity bills and to changes in some macro- or socio-economic outcomes such as GDP, inflation, employment or international trade. Finally, the study discusses some policy findings and implications, including options to enhance the effectiveness of some EE policies, in particular those having a potential adverse effect on the ETS carbon price.

CVM-X: Calibrating contingent values with experimental auction markets

International Nuclear Information System (INIS)

Fox, J.A.; Shogren, J.F.; Hayes, D.J.; Kliebenstein, J.B.

1998-01-01

We design and implement a method, CVM-X, to calibrate hypothetical survey values using experimental auction markets. We test the procedure using consumer willingness-to-pay for irradiated/nonirradiated meat. Our results show that calibration factors for those who favor the irradiation process (0.67-0.69) are less severe than for those with an initial dislike of the process (0.55-0.59), suggesting that calibration may be commodity specific

Complexity and Tractability Islands for Combinatorial Auctions on Discrete Intervals with Gaps

NARCIS (Netherlands)

Döcker, J.; Dorn, B.; Endriss, U.; Krüger, D.; Kaminka, G.A.; Fox, M.; Bouquet, P.; Hüllermeyer, E.; Dignum, V.; Dignum, F.; van Harmelen, F.

2016-01-01

Combinatorial auctions are mechanisms for allocating bundles of goods to agents who each have preferences over these goods. Finding an economically efficient allocation, the so-called winner determination problem, is computationally intractable in the general case, which is why it is important to

Reciprocity in Online Markets: Empirical Studies of Auction and Barter Markets

Science.gov (United States)

Ye, Shun

2013-01-01

My dissertation seeks to understand how reciprocity affects transaction outcomes and mechanism design in online markets. The first essay examines negative reciprocity illustrated as feedback-revoking behavior in the eBay auction market, focusing on its impact and implications for reputation system design. I utilize the biggest policy change of…

Using Experimental Auctions to Examine Demand for E-Cigarettes.

Science.gov (United States)

O'Connor, Richard; Rousu, Matthew C; Bansal-Travers, Maansi; Vogl, Lisa; Corrigan, Jay R

2017-06-01

E-cigarettes are the latest in a line of potentially reduced exposure products that have garnered interest among smokers. In this paper, we use experimental auctions to estimate smokers' demand for e-cigarettes and to assess the impact of advertisements on willingness to pay. These are actual auctions, with winners and losers, which means hypothetical biases often seen in surveys are minimized. We find smokers have positive demand for e-cigarettes, and that the print advertisements used in our study had greater effectiveness than video ads (b = 2.00, p e-cigarettes. Demand was greater for reusable versus disposable e-cigarettes. In multivariate models, demand for e-cigarettes was higher among non-white participants and among smokers willing to pay more for cigarettes. Our findings suggest that cigarette smokers are interested in e-cigarettes as alternatives to traditional products, particularly for reusable forms, and that this demand can be influenced by messaging/advertising. Given these reduced harm products are appealing, if smokers are able to switch completely to e-cigarettes, there is a good chance for accrual of significant harm reduction. © The Author 2016. Published by Oxford University Press on behalf of the Society for Research on Nicotine and Tobacco. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Statistical mechanics of budget-constrained auctions

International Nuclear Information System (INIS)

Altarelli, F; Braunstein, A; Realpe-Gomez, J; Zecchina, R

2009-01-01

Finding the optimal assignment in budget-constrained auctions is a combinatorial optimization problem with many important applications, a notable example being in the sale of advertisement space by search engines (in this context the problem is often referred to as the off-line AdWords problem). On the basis of the cavity method of statistical mechanics, we introduce a message-passing algorithm that is capable of solving efficiently random instances of the problem extracted from a natural distribution, and we derive from its properties the phase diagram of the problem. As the control parameter (average value of the budgets) is varied, we find two phase transitions delimiting a region in which long-range correlations arise

Statistical mechanics of budget-constrained auctions

Science.gov (United States)

Altarelli, F.; Braunstein, A.; Realpe-Gomez, J.; Zecchina, R.

2009-07-01

Finding the optimal assignment in budget-constrained auctions is a combinatorial optimization problem with many important applications, a notable example being in the sale of advertisement space by search engines (in this context the problem is often referred to as the off-line AdWords problem). On the basis of the cavity method of statistical mechanics, we introduce a message-passing algorithm that is capable of solving efficiently random instances of the problem extracted from a natural distribution, and we derive from its properties the phase diagram of the problem. As the control parameter (average value of the budgets) is varied, we find two phase transitions delimiting a region in which long-range correlations arise.

See Art History in a New Light: Have an Art Auction

Science.gov (United States)

Benter, Doris J.

2008-01-01

At Portledge School in Locust Valley, New York, ninth graders in their upper school study art history for one semester. The visual arts department has created a vigorous new syllabus culminating in an hour-long mock art auction. The department selects several art movements (e.g., Post-Impressionism, Cubism, Abstract Expressionism, Social Realism,…

Small-vessel Survey and Auction Sampling to Estimate Growth and Maturity of Eteline Snappers

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — Small-vessel Survey and Auction Sampling to Estimate Growth and Maturity of Eteline Snappers and Improve Data-Limited Stock Assessments. This biosampling project...

The impact of product information and trials on demand for smokeless tobacco and cigarettes: evidence from experimental auctions.

Science.gov (United States)

Rousu, Matthew C; O'Connor, Richard J; Thrasher, James F; June, Kristie M; Bansal-Travers, Maansi; Pitcavage, James

2014-03-01

Epidemiological and toxicological evidence suggests lower risk of smokeless tobacco (ST) products compared to cigarettes. Less is known, however, about consumer perceptions and use of novel forms of ST, including snus and dissolvable tobacco. In this study, we conducted in-person experimental auctions in Buffalo, NY, Columbia, SC, and Selinsgrove, PA with 571 smokers to test the impact of information and product trials on smokers' preferences. Auctions were conducted between November 2010-November 2011. We found no evidence of an impact of product trials on demand in our auctions. Anti-ST information increased demand for cigarettes when presented alone, but when presented with pro-ST information it decreased demand for cigarettes. It did not decrease demand for ST products. Anti-smoking information increased demand for ST products, but did not affect cigarette demand. These findings suggest that credible and effective communications about tobacco harm reduction should reinforce the negative effects of smoking. Copyright © 2013 Elsevier Inc. All rights reserved.

An Auction-Based Spectrum Leasing Mechanism for Mobile Macro-Femtocell Networks of IoT.

Science.gov (United States)

Chen, Xin; Xing, Lei; Qiu, Tie; Li, Zhuo

2017-02-16

The Internet of Things (IoT) is a vision of the upcoming society. It can provide pervasive communication between two or more entities using 4G-LTE (Long Term Evolution) communication technology. In 4G-LTE networks, there are two important problems: helping manage the spectrum demands of IoT devices and achieving much more revenue with the limited resource. This paper proposes a pricing framework to investigate the spectrum leasing in mobile heterogeneous networks with single macrocell and multiple femtocells. We modeled the leasing procedure between the macrocell service provider (MSP) and femtocell holders (FHs) as an auction to motivate the MSP to lease its spectrum resource. All FHs act as the bidders, and the monopolist MSP acts as the auctioneer. In the auction, FHs submit their bids to rent the spectrum resource so that they can make a profit by selling it to their subscribers. The MSP determines the spectrum leasing amount and chooses the winning FHs by solving the dynamic programming-based 0-1 knapsack problem. In our proposed framework, we focus on the spectrum pricing strategy and revenue maximization of the MSP. The simulation results show that the proposed scheme provides effective motivation for the MSP to lease the spectrum to FHs, and both the MSP and FHs can benefit from spectrum leasing.

An Auction-Based Spectrum Leasing Mechanism for Mobile Macro-Femtocell Networks of IoT

Directory of Open Access Journals (Sweden)

Xin Chen

2017-02-01

Full Text Available The Internet of Things (IoT is a vision of the upcoming society. It can provide pervasive communication between two or more entities using 4G-LTE (Long Term Evolution communication technology. In 4G-LTE networks, there are two important problems: helping manage the spectrum demands of IoT devices and achieving much more revenue with the limited resource. This paper proposes a pricing framework to investigate the spectrum leasing in mobile heterogeneous networks with single macrocell and multiple femtocells. We modeled the leasing procedure between the macrocell service provider (MSP and femtocell holders (FHs as an auction to motivate the MSP to lease its spectrum resource. All FHs act as the bidders, and the monopolist MSP acts as the auctioneer. In the auction, FHs submit their bids to rent the spectrum resource so that they can make a profit by selling it to their subscribers. The MSP determines the spectrum leasing amount and chooses the winning FHs by solving the dynamic programming-based 0–1 knapsack problem. In our proposed framework, we focus on the spectrum pricing strategy and revenue maximization of the MSP. The simulation results show that the proposed scheme provides effective motivation for the MSP to lease the spectrum to FHs, and both the MSP and FHs can benefit from spectrum leasing.

A formulation of combinatorial auction via reverse convex programming

Directory of Open Access Journals (Sweden)

Henry Schellhorn

2005-01-01

of this problem, where orders are aggregated and integrality constraints are relaxed. It was proved that this problem could be solved efficiently in two steps by calculating two fixed points, first the fixed point of a contraction mapping, and then of a set-valued function. In this paper, we generalize the problem to incorporate constraints on maximum price changes between two auction rounds. This generalized problem cannot be solved by the aforementioned methods and necessitates reverse convex programming techniques.

Implicit price of mussel characteristics in the auction market

DEFF Research Database (Denmark)

Nguyen, Thong Tien

2012-01-01

This study explores desired and undesired characteristics of mussels in wholesale market by applying hedonic price analysis. Transaction data in auction market in Yerseke, the Netherlands, was used to estimate linear and semi-log price models. Meat content and size count, which are measured...... of raw mussels are significant discounting factors on the price. The study also investigates the impact of farming locations and seasons on the price and the price trend during the period of 2002–2009....

Varying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game

OpenAIRE

Tibor Neugebauer; Sascha F llbrunn

2013-01-01

The paper reports experimental data on the behavior in the first-price sealed-bid auction for a varying number of bidders when values and bids are private information. This feedback-free design is proposed for the experimental test of the one-shot game situation. We consider both within-subject and betweensubjects variations. In line with the qualitative risk neutral Nash equilibrium prediction, the data show that bids increase in the number of bidders. However, in auctions involving a small ...

Auction dynamics: A volume constrained MBO scheme

Science.gov (United States)

Jacobs, Matt; Merkurjev, Ekaterina; Esedoǧlu, Selim

2018-02-01

We show how auction algorithms, originally developed for the assignment problem, can be utilized in Merriman, Bence, and Osher's threshold dynamics scheme to simulate multi-phase motion by mean curvature in the presence of equality and inequality volume constraints on the individual phases. The resulting algorithms are highly efficient and robust, and can be used in simulations ranging from minimal partition problems in Euclidean space to semi-supervised machine learning via clustering on graphs. In the case of the latter application, numerous experimental results on benchmark machine learning datasets show that our approach exceeds the performance of current state-of-the-art methods, while requiring a fraction of the computation time.

75 FR 38551 - Prohibited Transaction Exemptions and Grant of Individual Exemptions Involving D-11448, The PNC...

Science.gov (United States)

2010-07-02

... associated with the Mercantile Plan's sale of the securities received in the Redemptions. See Section I(L) of... toll-free number.) Exemption Section I. Sales of Auction Rate Securities From Plans to Citigroup..., to the sale by a Plan (as defined in Section V(e)) of an Auction Rate Security (as defined in Section...

Primary care in an unstable security, humanitarian, economic and political context: the Kurdistan Region of Iraq

NARCIS (Netherlands)

Shukor, Ali R.; Klazinga, Niek S.; Kringos, Dionne S.

2017-01-01

Background: This study presents a descriptive synthesis of Kurdistan Region of Iraq's (KRI) primary care system, which is undergoing comprehensive primary care reforms within the context of a cross-cutting structural economic adjustment program and protracted security, humanitarian, economic and

Price computation in electricity auctions with complex rules: An analysis of investment signals

International Nuclear Information System (INIS)

Vazquez, Carlos; Hallack, Michelle; Vazquez, Miguel

2017-01-01

This paper discusses the problem of defining marginal costs when integer variables are present, in the context of short-term power auctions. Most of the proposals for price computation existing in the literature are concerned with short-term competitive equilibrium (generators should not be willing to change the dispatch assigned to them by the auctioneer), which implies operational-cost recovery for all of the generators accepted in the auction. However, this is in general not enough to choose between the different pricing schemes. We propose to include an additional criterion in order to discriminate among different pricing schemes: prices have to be also signals for generation expansion. Using this condition, we arrive to a single solution to the problem of defining prices, where they are computed as the shadow prices of the balance equations in a linear version of the unit commitment problem. Importantly, not every linearization of the unit commitment is valid; we develop the conditions for this linear model to provide adequate investment signals. Compared to other proposals in the literature, our results provide a strong motivation for the pricing scheme and a simple method for price computation. - Highlights: • Pricing proposals in power markets often deal with just accounting-cost recovery. • Including opportunity costs is an additional property required for efficient pricing. • We develop a framework to analyze the pricing proposals found in the literature. • We propose a pricing mechanism to include the costs of short-run integer decisions. • As it includes short-run opportunity costs, it provides efficient long-term signals.

Auctionable fixed transmission rights for congestion management

Science.gov (United States)

Alomoush, Muwaffaq Irsheid

the transaction by the ISO, take a decision to expand the existing system, or retain the original structure of the system. Also, the thesis investigates the impact of wheeling transactions on congestion management, where we present a generalized mathematical model for the Fixed Transmission Right (FTR) auction. The auction guarantees FTR availability to all participants on a non-discriminatory basis, in which system users are permitted to buy, sell and trade FTRs through an auction. When FTRs are utilized with LMPs, they increase the efficient use of the transmission system and let a transmission customer gain advantageous features such as acquiring a mechanism to offset the extra cost due to congestion charges, providing financial and operational certainty and making system users pay for the actual use of the congested paths. The thesis also highlighted FTR trading in secondary markets to self-arrange access across different paths, create long-term transmission rights and provide more commercial certainty.

The impact of secure messaging on workflow in primary care: Results of a multiple-case, multiple-method study.

Science.gov (United States)

Hoonakker, Peter L T; Carayon, Pascale; Cartmill, Randi S

2017-04-01

Secure messaging is a relatively new addition to health information technology (IT). Several studies have examined the impact of secure messaging on (clinical) outcomes but very few studies have examined the impact on workflow in primary care clinics. In this study we examined the impact of secure messaging on workflow of clinicians, staff and patients. We used a multiple case study design with multiple data collections methods (observation, interviews and survey). Results show that secure messaging has the potential to improve communication and information flow and the organization of work in primary care clinics, partly due to the possibility of asynchronous communication. However, secure messaging can also have a negative effect on communication and increase workload, especially if patients send messages that are not appropriate for the secure messaging medium (for example, messages that are too long, complex, ambiguous, or inappropriate). Results show that clinicians are ambivalent about secure messaging. Secure messaging can add to their workload, especially if there is high message volume, and currently they are not compensated for these activities. Staff is -especially compared to clinicians- relatively positive about secure messaging and patients are overall very satisfied with secure messaging. Finally, clinicians, staff and patients think that secure messaging can have a positive effect on quality of care and patient safety. Secure messaging is a tool that has the potential to improve communication and information flow. However, the potential of secure messaging to improve workflow is dependent on the way it is implemented and used. Copyright © 2017 Elsevier B.V. All rights reserved.

Clean air, clear market. Making emissions trading work: The role of a computer-assisted auction

International Nuclear Information System (INIS)

Bartels, C.W.; Marron, D.B.; Lipsky, M.I.

1993-01-01

Creating a new commodity presents the chance to develop new markets in which to trade it. In many cases, existing markets can be adapted easily; in other cases it proves worthwhile to develop new forms that reflect special characteristics of the commodity and those who trade it. In the case of the sulfur dioxide (SO 2 ) emission allowances created by the Clean Air Act Amendments of 1990, a number of standard market forms already have been adopted. While these will prove useful for handling some transactions, a new Market Clearing Auction (MCA) offers buyers and sellers a centralized marketplace for trading SO 2 emission allowances. The MCA, which was developed by the brokerage firm Cantor Fitzgerald, is a computer-assisted open-quotes smartclose quotes auction designed to replicate the outcome of an efficient market in emission allowances, and accepts bids and offers for any possible combination of allowances. Orders can be submitted for streams of allowances. Orders can be submitted for streams of allowances covering more than one year. The auction then determines the combination of bids and offers that maximizes the gains from trades in the market, and establishes uniform market clearing prices for each allowance issue (1995, 1996, and so on). Once executed, trades are settled on a cash-forward basis; that is, allowances are delivered and payments are made at future dates

Sequential bidding in day-ahead auctions for spot energy and power systems reserve

International Nuclear Information System (INIS)

Swider, Derk J.

2005-01-01

In this paper a novel approach for sequential bidding on day-ahead auction markets for spot energy and power systems reserve is presented. For the spot market a relatively simple method is considered as a competitive market is assumed. For the reserve market one bidder is assumed to behave strategically and the behavior of the competitors is summarized in a probability distribution of the market price. This results in a method for sequential bidding, where the bidding prices and capacities on the spot and reserve markets are calculated by maximizing a stochastic non-linear objective function of expected profit. With an exemplary application is shown that the trading sequence leads to increasing bidding capacities and prices in the reverse rank number of the markets. Hence, the consideration of a defined trading sequence greatly influences the mathematical representation of the optimal bidding behavior under price uncertainty in day-ahead auctions for spot energy and power systems reserve. (Author)

Obesity and food security in Yazd primary school students

Directory of Open Access Journals (Sweden)

Karam soltani Z

2007-09-01

Full Text Available Background: Food security is defined as access, for all people at all times, to enough food for an active and healthy life. Food security includes: 1 the ready availability of nutritionally-adequate and safe food, and 2 an assured ability to acquire acceptable foods in socially acceptable ways. The increase in childhood as well as adulthood obesity and food insecurity has caused many recent investigations on obesity, food insecurity and some associated factors. However, there appears to be a lack of published information regarding some factors affecting obesity and food insecurity. This study aimed to determine the prevalence obesity and food insecurity and some associated factors among Yazd province primary school students in Iran.Methods: Using two-stage cluster sampling, a total of 3245 students (1587 boys and 1658 girls, aged 9-11 years, were randomly selected from primary school pupils in Yazd, Iran. From these, 187 students having BMIs ≥95th percentile, as defined by Hosseini et al. (1999, were identified as obese and 187 pupils of the same age and gender having BMIs between the 15th and 85th percentiles were selected as controls. Data were collected using 24-hour food-recall and USDA food insecurity questionnaires.Results: We found that the prevalence of obesity among students aged 9-11 years was 13.3%, and the prevalence of food insecurity was 30.5%. Daily energy intakes, compared to those recommended by the RDA, carbohydrate intake and energy percentages from proteins and carbohydrates were higher in obese children, and all macronutrient intakes per kilogram of body weight were significantly higher. An association between obesity and food insecurity was observed with adjusted fat intake.Conclusion: In conclusion, the prevalence of obesity and food insecurity is high among Yazd primary school students, and high-level intakes of energy, protein, carbohydrate are associated with obesity. Furthermore, variation in the rate of fat intake

Horticultural auctions in The Netherlands: A transition from 'price discovery' institution to 'marketing' institution

NARCIS (Netherlands)

Meulenberg, M.T.G.

1989-01-01

This paper depicts the evolution of Dutch auctions during the past hundred years from a "price discovery" institution to a "marketing" institution, focusing on price discovery. A conceptual framework is proposed to assess the suitablility of marketing management by agricultural marketing

Design Implications of Real-Time Feedback in Continuous Combinatorial Auctions: An Experimental Investigation

Science.gov (United States)

Sanyal, Pallab

2009-01-01

Information Technology (IT) has spawned the growth of novel and innovative market mechanisms (such as online auctions) and associated businesses (such as eBay and Priceline) that were not feasible without the capabilities and reach of these modern information technologies. Previous studies on designing trading mechanisms for online markets…

Equilibrium Selection with Risk Dominance in a Multiple-unit Unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

This paper uses an adapted version of the linear tracing procedure, suggested by Harsanyi and Selten (1988), in order to discriminate between two types of multiple Nash equilibria. Equilibria of the same type are pay-off equivalent in the analysed multiple-unit unit price auction where two seller...

Implementing a Multi-Agent System in Python with an Auction-Based Agreement Approach

DEFF Research Database (Denmark)

Ettienne, Mikko Berggren; Vester, Steen; Villadsen, Jørgen

2012-01-01

We describe the solution used by the Python-DTU team in the Multi-Agent Programming Contest 2011, where the scenario was called Agents on Mars. We present our auction-based agreement algorithm and discuss our chosen strategy and our choice of technology used for implementing the system. Finally, we...

Teaching Undergraduate Money and Banking: T-Bill Auctions and Stock Market Models

Science.gov (United States)

Saros, Daniel E.

2009-01-01

The author offers innovative approaches to 3 topics that are typically only briefly mentioned (if at all) in money and banking courses. The first topic is a Treasury bill auction experiment in which students have an opportunity to participate directly. The results from a class of 14 money and banking students are used to explain how an instructor…

A novel income security intervention to address poverty in a primary care setting: a retrospective chart review.

Science.gov (United States)

Jones, Marcella K; Bloch, Gary; Pinto, Andrew D

2017-08-17

To examine the development and implementation of a novel income security intervention in primary care. A retrospective, descriptive chart review of all patients referred to the Income Security Heath Promotion service during the first year of the service (December 2013-December 2014). A multisite interdisciplinary primary care organisation in inner city Toronto, Canada, serving over 40 000 patients. The study population included 181 patients (53% female, mean age 48 years) who were referred to the Income Security Health Promotion service and engaged in care. The Income Security Health Promotion service consists of a trained health promoter who provides a mixture of expert advice and case management to patients to improve income security. An advisory group, made up of physicians, social workers, a community engagement specialist and a clinical manager, supports the service. Sociodemographic information, health status, referral information and encounter details were collected from patient charts. Encounters focused on helping patients with increasing their income (77.4%), reducing their expenses (58.6%) and improving their financial literacy (26.5%). The health promoter provided an array of services to patients, including assistance with taxes, connecting to community services, budgeting and accessing free services. The service could be improved with more specific goal setting, better links to other members of the healthcare team and implementing routine follow-up with each patient after discharge. Income Security Health Promotion is a novel service within primary care to assist vulnerable patients with a key social determinant of health. This study is a preliminary look at understanding the functioning of the service. Future research will examine the impact of the Income Security Health Promotion service on income security, financial literacy, engagement with health services and health outcomes. © Article author(s) (or their employer(s) unless otherwise stated in

The Brazilian experience of incentive of renewable sources expansion by means of electric power auctions; A experiencia brasileira de incentivo a expansao das fontes renovaveis por meio de leiloes de energia eletrica

Energy Technology Data Exchange (ETDEWEB)

Viana, Alexandre Guedes [Camara de Comercializacao de Energia Eletrica (CCEE), Sao Paulo, SP (Brazil); Parente, Virginia [Universidade de Sao Paulo (USP), SP (Brazil)

2010-07-01

The aim of this paper is to present the Brazilian experience to encourage renewable sources of power generation through the auctions into the Regulated Environment of Contracting. These auctions are subdivided into auctions of existing plants, new plants, alternative sources and structural plants. In this process we observe the structure of the mechanism for contracting new projects of renewable sources without neglecting the low tariffs issues. Thus, the auctions of electricity in Brazil is an alternative to be considered in an attempt to group market mechanisms, low tariffs and incentives to renewable sources of generation. (author)

76 FR 82336 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of...

Science.gov (United States)

2011-12-30

... (2) a non-price specific commitment to auto- match all Auction responses achieved during the Auction... price responses, leading to more robust competition in AIM. \\16\\ See supra note 3; see also Securities... enhance competition in the AIM Auctions and provide customers with additional opportunities for price...

Tree Based Decision Strategies and Auctions in Computational Multi-Agent Systems

Czech Academy of Sciences Publication Activity Database

Šlapák, M.; Neruda, Roman

2017-01-01

Roč. 38, č. 4 (2017), s. 335-342 ISSN 0257-4306 Institutional support: RVO:67985807 Keywords : auction systems * decision making * genetic programming * multi-agent system * task distribution Subject RIV: IN - Informatics, Computer Science OBOR OECD: Computer sciences, information science, bioinformathics (hardware development to be 2.2, social aspect to be 5.8) http://rev-inv-ope.univ-paris1.fr/fileadmin/rev-inv-ope/files/38417/38417-04.pdf

Evolving impact of the auction houses in Turkish contemporary art market

OpenAIRE

Kaya, Güldehen

2017-01-01

There are vital institutions serving theproduction, distrubution and consumption of the contemporary art works andconstituting the value of art. One of those institutions, an Auction House, asbeing solely a commercial entity, directly affects the perception of the artvalue via pricing. However, market value is not necessarily a fair andsufficient indicator and does not necessarily correspond to the artist’s careerpath. According to the artists, the perception of value attributed by thatprice ...

A multi-attribute yardstick auction without prior scoring

DEFF Research Database (Denmark)

Hougaard, Jens Leth; Nielsen, Kurt; Papakonstantinou, Athanasios

by reducing the principal’s articulation of his preferences to simply choosing the most preferred oer as if it was a market with posted prices. Although truthful reporting does not constitute a Nash equilibrium, we demonstrate by simulations that truth-telling may indeed be some kind of focal point....... By focusing on the initial winner in case everyone tells the truth, we show that even if the other bidders are allowed to misreport by as much as 20% of their true cost, the initial winner remains the winner in 80% of all simulated auctions in the case of 3 competing bidders. Furthermore, as it takes...

Benford’s Law and Naturally Occurring Prices in Certain ebaY Auctions

OpenAIRE

David E. Giles

2005-01-01

We show that certain the winning bids for certain ebaY auctions obey Benford’s Law. One implication of this is that it is unlikely that these bids are subject to collusion among bidders, or “shilling” on the part of sellers. Parenthetically, we also show that numbers from the naturally occurring Fibonacci and Lucas sequences also obey Benford’s Law.

Dynamics of risk management tools and auctions in the second phase of the Brazilian Electricity Market reform

International Nuclear Information System (INIS)

De Souza, Fabio Cavaliere; Legey, Luiz Fernando Loureiro

2010-01-01

In 2004, the reform of the Brazilian Electricity Market underwent a thorough revision. One of its causes was the electricity rationing that began in June 2001 and lasted until February 2002. Among other measures, the 2004 revision devised new mechanisms intended to reduce risks associated to contracts settled in electricity auctions and those related to investments in new generation plants. As 4 years have passed since the onset of the reform's revision, sufficiently enough data are now available for an analysis of the post-revision dynamics of the Brazilian Electricity Market. This is the purpose of the present paper. We focus on the dynamics of the different types of electricity auctions and on the so-called Mechanism for Compensation of Surpluses and Deficits, both created in the wake of the 2004 revision. The ultimate goal is to understand the behavior of the agents involved in auctions - notably buyers and sellers of electricity - and propose remedial actions to eliminate existing loopholes in the present regulatory framework. To achieve this goal, four steps were necessary. Firstly, a data base to support the analysis was built. Then, the main drivers of the dynamics of the risk management tools were identified. Finally, consequences of the implemented changes were discussed and corrections for observed pitfalls proposed. (author)

Improving Fraudster Detection in Online Auctions by Using Neighbor-Driven Attributes

Directory of Open Access Journals (Sweden)

Jun-Lin Lin

2015-12-01

Full Text Available Online auction websites use a simple reputation system to help their users to evaluate the trustworthiness of sellers and buyers. However, to improve their reputation in the reputation system, fraudulent users can easily deceive the reputation system by creating fake transactions. This inflated-reputation fraud poses a major problem for online auction websites because it can lead legitimate users into scams. Numerous approaches have been proposed in the literature to address this problem, most of which involve using social network analysis (SNA to derive critical features (e.g., k-core, center weight, and neighbor diversity for distinguishing fraudsters from legitimate users. This paper discusses the limitations of these SNA features and proposes a class of SNA features referred to as neighbor-driven attributes (NDAs. The NDAs of users are calculated from the features of their neighbors. Because fraudsters require collusive neighbors to provide them with positive ratings in the reputation system, using NDAs can be helpful for detecting fraudsters. Although the idea of NDAs is not entirely new, experimental results on a real-world dataset showed that using NDAs improves classification accuracy compared with state-of-the-art methods that use the k-core, center weight, and neighbor diversity.

Existence and computation of equilibria of first-price auctions with integral valuations and bids

DEFF Research Database (Denmark)

Escamocher, Guillaume; Miltersen, Peter Bro; Santillan, Rocio

2009-01-01

We consider existence and computation of symmetric Pure Strategy Nash Equilibrium (PSNE) in single-item, sealed-bid, first-price auctions with integral valuations and bids. For the most general case, we show that existence of PSNE is NP-hard. Then, we present algorithmic results for the case...

GROUP-BUYING ONLINE AUCTION AND OPTIMAL INVENTORY POLICY IN UNCERTAIN MARKET

Institute of Scientific and Technical Information of China (English)

Jian CHEN; Yunhui LIU; Xiping SONG

2004-01-01

In this paper we consider a group-buying online auction (GBA) model for a monopolistic manufacturer selling novel products in the uncertain market. Firstly, we introduce the bidder's dominant strategy, after which we optimize the GBA price curve and the production volume together.Finally, we compare the GBA with the traditional posted pricing mechanism and find that the GBA is highly probable to be advantageous over the posted pricing mechanism in some appropriate market environments.

77 FR 69933 - Expanding the Economic and Innovation Opportunities of Spectrum Through Incentive Auctions

Science.gov (United States)

2012-11-21

... (MVPDs) so that MVPDs can make the necessary changes to their channel lineups. The NPRM adopts the... design elements: (1) Bid collection procedures that determine how bids in the auction are gathered, (2) assignment procedures that determine which bids are accepted, and (3) pricing procedures that determine what...

77 FR 15369 - Mobility Fund Phase I Auction GIS Data of Potentially Eligible Census Blocks

Science.gov (United States)

2012-03-15

... GIS Data of Potentially Eligible Census Blocks AGENCY: Federal Communications Commission. ACTION... Bureaus (the ``Bureaus'') announce the availability of geographic information system (GIS) data for the...). SUPPLEMENTARY INFORMATION: This is a summary of the Mobility Fund Phase I Auction GIS Data for Potentially...

Bid Regulations in a Multi-unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

for larger rms does not guarantee market prices below that cap. A suffciently high bid floor only for smaller firms destroys some or all pure strategy equilibria despite their prices being above the bid floor. With a general bid floor this happens only with considerably higher bid floors.......This paper examines the effect of bid regulations on the range of potential equilibrium prices in a multi-unit uniform price auction with heterogenous bidders. General bid caps destroy equilibria with prices above the bid cap and create new equilibria with prices way below the cap. A cap only...

Price Regulations in a Multi-unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small......Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

Price Regulations in a Multi-unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...... not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small...

Adaptive Sniping for Volatile and Stable Continuous Double Auction Markets

Science.gov (United States)

Toft, I. E.; Bagnall, A. J.

This paper introduces a new adaptive sniping agent for the Continuous Double Auction. We begin by analysing the performance of the well known Kaplan sniper in two extremes of market conditions. We generate volatile and stable market conditions using the well known Zero Intelligence-Constrained agent and a new zero-intelligence agent Small Increment (SI). ZI-C agents submit random but profitable bids/offers and cause high volatility in prices and individual trader performance. Our new zero-intelligence agent, SI, makes small random adjustments to the outstanding bid/offer and hence is more cautious than ZI-C. We present results for SI in self-play and then analyse Kaplan in volatile and stable markets. We demonstrate that the non-adaptive Kaplan sniper can be configured to suit either market conditions, but no single configuration is performs well across both market types. We believe that in a dynamic auction environment where current or future market conditions cannot be predicted a viable sniping strategy should adapt its behaviour to suit prevailing market conditions. To this end, we propose the Adaptive Sniper (AS) agent for the CDA. AS traders classify sniping opportunities using a statistical model of market activity and adjust their classification thresholds using a Widrow-Hoff adapted search. Our AS agent requires little configuration, and outperforms the original Kaplan sniper in volatile and stable markets, and in a mixed trader type scenario that includes adaptive strategies from the literature.

A New Framework for Reactive Power Market Considering Power System Security

Directory of Open Access Journals (Sweden)

A. Rabiee

2009-09-01

Full Text Available This paper presents a new framework for the day-ahead reactive power market based on the uniform auction price. Voltage stability and security have been considered in the proposed framework. Total Payment Function (TPF is suggested as the objective function of the Optimal Power Flow (OPF used to clear the reactive power market. Overload, voltage drop and voltage stability margin (VSM are included in the constraints of the OPF. Another advantage of the proposed method is the exclusion of Lost Opportunity Cost (LOC concerns from the reactive power market. The effectiveness of the proposed reactive power market is studied based on the CIGRÉ-32 bus test system.

Design of sustainable food chains: Measuring consumers' willingness-to-pay through the performance of experimental auctions

DEFF Research Database (Denmark)

Costa, Ana I.A.

Today's EU animal production systems face a major challenge. On one hand, they must deal with society's demand for production strategies that are safer, more environmental-friendly and ensure better animal welfare. On the other hand, they have to address food suppliers' aspirations for economic....... Moreover, the ability to quantify consumers' willingness-to-pay for new, ethically-improved foods is vital for the economic sustainability of the animal production sector, as well as for the generation of addedvalue products. This abstract presents the outcome of a pilot study of Dutch consumers...... conducted previously3,4. The type of auction employed was the second-price, sealed bid auction. The results obtained give some indication that Dutch consumers' might be willing to pay more for ethical benefits, namely those perceived to be associated with safety. Nevertheless, our findings also indicate...

Relative willingness to pay and surplus comparison mechanism in experimental auctions

OpenAIRE

COMBRIS Pierre; SEABRA PINTO Alexandra; GIRAUD HERAUD Eric

2015-01-01

We study the relative willingness-to-pay (WTP) of consumers according to the diversity of supply in a market and we show how the presence of substitutes for a given product leads to question the incentive mechanisms commonly used in experimental auctions. We propose a Surplus Comparison Mechanism (SCM) in order to yield WTP estimates which better take into account the choice set available to consumers. After showing the efficiency of this mechanism we test the SCM in a laboratory experiment, ...

The association of family food security and depression in mothers having primary school children in Ray-Iran.

Science.gov (United States)

Payab, Moloud; Motlagh, Ahmad-Reza Dorosty; Eshraghian, Mohammadreza; Rostami, Reza; Siassi, Fereydoun

2014-01-01

As a major public health problem, food insecurity has adverse social and psychological effects, in addition to the impact on public health. This study aimed to determine the association of household food security and depression in mothers with primary school children in Ray County. This descriptive, analytical cross-sectional study was conducted on 430 mothers with primary school children in the spring 2010. During a two-stage cluster sampling, an 18-items food security questionnaire (USDA) and the Beck depression inventory were completed via interviewing mothers. Chi-squared test, one-way analysis of variance, simple regression and stepwise multiple regression were used to describe and analyze data, and to identify related factors using SPSS-16 software. The prevalence of food insecurity and depression in mothers were 50.2% and 51.4% respectively. Also 34.6% of mothers in the "food secure" group were depressed and 77.8% in "food insecure with hunger" group were depressed and this difference was statistically significant. Twelve out of the 20 examined variables (age, family size, number of children, economic status, home ownership, employment households, educational level of the mother and also the head of household, height, energy intake, and carbohydrate and protein intakes) were significantly associated with food security and depression. Food insecurity and depression in mothers with primary school children in Ray County showed a significant positive correlation (P < 0.001). The prevalence of household food insecurity and depression in the studied population were high. Since there is a significant relationship between food insecurity and depression, more attention must be paid to this group.

Access to primary energy sources - the basis of national energy security

Science.gov (United States)

Szlązak, Jan; Szlązak, Rafał A.

2017-11-01

National energy security is of fundamental importance for economic development of a country. To ensure such safety energy raw material, also called primary energy sources, are necessary. Currently in Poland primary energy sources include mainly fossil fuels, such as hard coal, brown coal, natural gas and crude oil. Other sources, e.g. renewable energy sources account for c. 15% in the energy mix. Primary energy sources are used to produce mainly electricity, which is considered as the cleanest form of energy. Poland does not have, unfortunately, sufficient energy sources and is forced to import some of them, mainly natural gas and crude oil. The article presents an insightful analysis of energy raw material reserves possessed by Poland and their structure taking account of the requirements applicable in the European Union, in particular, those related to environmental protection. The article also describes demand for electricity now and in the perspective of 2030. Primary energy sources necessary for its production have also been given. The article also includes the possibilities for the use of renewable energy sources in Poland, however, climatic conditions there are not are not particularly favourable to it. All the issues addressed in the article are summed up and ended with conclusions.

Control system of the inspection robots group applying auctions and multi-criteria analysis for task allocation

Science.gov (United States)

Panfil, Wawrzyniec; Moczulski, Wojciech

2017-10-01

In the paper presented is a control system of a mobile robots group intended for carrying out inspection missions. The main research problem was to define such a control system in order to facilitate a cooperation of the robots resulting in realization of the committed inspection tasks. Many of the well-known control systems use auctions for tasks allocation, where a subject of an auction is a task to be allocated. It seems that in the case of missions characterized by much larger number of tasks than number of robots it will be better if robots (instead of tasks) are subjects of auctions. The second identified problem concerns the one-sided robot-to-task fitness evaluation. Simultaneous assessment of the robot-to-task fitness and task attractiveness for robot should affect positively for the overall effectiveness of the multi-robot system performance. The elaborated system allows to assign tasks to robots using various methods for evaluation of fitness between robots and tasks, and using some tasks allocation methods. There is proposed the method for multi-criteria analysis, which is composed of two assessments, i.e. robot's concurrency position for task among other robots and task's attractiveness for robot among other tasks. Furthermore, there are proposed methods for tasks allocation applying the mentioned multi-criteria analysis method. The verification of both the elaborated system and the proposed tasks' allocation methods was carried out with the help of simulated experiments. The object under test was a group of inspection mobile robots being a virtual counterpart of the real mobile-robot group.

Understanding Financial Market States Using an Artificial Double Auction Market.

Science.gov (United States)

Yim, Kyubin; Oh, Gabjin; Kim, Seunghwan

2016-01-01

The ultimate value of theories describing the fundamental mechanisms behind asset prices in financial systems is reflected in the capacity of such theories to understand these systems. Although the models that explain the various states of financial markets offer substantial evidence from the fields of finance, mathematics, and even physics, previous theories that attempt to address the complexities of financial markets in full have been inadequate. We propose an artificial double auction market as an agent-based model to study the origin of complex states in financial markets by characterizing important parameters with an investment strategy that can cover the dynamics of the financial market. The investment strategies of chartist traders in response to new market information should reduce market stability based on the price fluctuations of risky assets. However, fundamentalist traders strategically submit orders based on fundamental value and, thereby stabilize the market. We construct a continuous double auction market and find that the market is controlled by the proportion of chartists, Pc. We show that mimicking the real state of financial markets, which emerges in real financial systems, is given within the range Pc = 0.40 to Pc = 0.85; however, we show that mimicking the efficient market hypothesis state can be generated with values less than Pc = 0.40. In particular, we observe that mimicking a market collapse state is created with values greater than Pc = 0.85, at which point a liquidity shortage occurs, and the phase transition behavior is described at Pc = 0.85.

Understanding Financial Market States Using an Artificial Double Auction Market.

Directory of Open Access Journals (Sweden)

Kyubin Yim

Full Text Available The ultimate value of theories describing the fundamental mechanisms behind asset prices in financial systems is reflected in the capacity of such theories to understand these systems. Although the models that explain the various states of financial markets offer substantial evidence from the fields of finance, mathematics, and even physics, previous theories that attempt to address the complexities of financial markets in full have been inadequate. We propose an artificial double auction market as an agent-based model to study the origin of complex states in financial markets by characterizing important parameters with an investment strategy that can cover the dynamics of the financial market. The investment strategies of chartist traders in response to new market information should reduce market stability based on the price fluctuations of risky assets. However, fundamentalist traders strategically submit orders based on fundamental value and, thereby stabilize the market. We construct a continuous double auction market and find that the market is controlled by the proportion of chartists, Pc. We show that mimicking the real state of financial markets, which emerges in real financial systems, is given within the range Pc = 0.40 to Pc = 0.85; however, we show that mimicking the efficient market hypothesis state can be generated with values less than Pc = 0.40. In particular, we observe that mimicking a market collapse state is created with values greater than Pc = 0.85, at which point a liquidity shortage occurs, and the phase transition behavior is described at Pc = 0.85.

Primary care in an unstable security, humanitarian, economic and political context: the Kurdistan Region of Iraq.

Science.gov (United States)

Shukor, Ali R; Klazinga, Niek S; Kringos, Dionne S

2017-08-23

This study presents a descriptive synthesis of Kurdistan Region of Iraq's (KRI) primary care system, which is undergoing comprehensive primary care reforms within the context of a cross-cutting structural economic adjustment program and protracted security, humanitarian, economic and political crises. The descriptive analysis used a framework operationalizing Starfield's classic primary care model for health services research. A scoping review was performed using relevant sources, and expert consultations were conducted for completing and validating data. The descriptive analysis presents a complex narrative of a primary care system undergoing classical developmental processes of transitioning middle-income countries. The system is simultaneously under tremendous pressure to adapt to the continuously changing, complex and resource-intensive needs of sub-populations exhibiting varying morbidity patterns, within the context of protracted security, humanitarian, economic, and political crises. Despite exhibiting significant resilience in the face of the ongoing crises, the continued influx of IDPs and Syrian refugees, coupled with extremely limited resources and weak governance at policy, organizational and clinical levels threaten the sustainability of KRI's public primary care system. Diverse trajectories to the strengthening and development of primary care are underway by local and international actors, notably the World Bank, RAND Corporation, UN organizations and USAID, focusing on varying imperatives related to the protracted humanitarian and economic crises. The convergence, interaction and outcomes of the diverse initiatives and policy approaches in relation to the development of KRI's primary care system are complex and highly uncertain. A common vision of primary care is required to align resources, initiatives and policies, and to enable synergy between all local and international actors involved in the developmental and humanitarian response. Further

Security Approaches in Using Tablet Computers for Primary Data Collection in Clinical Research

OpenAIRE

Wilcox, Adam B.; Gallagher, Kathleen; Bakken, Suzanne

2013-01-01

Next-generation tablets (iPads and Android tablets) may potentially improve the collection and management of clinical research data. The widespread adoption of tablets, coupled with decreased software and hardware costs, has led to increased consideration of tablets for primary research data collection. When using tablets for the Washington Heights/Inwood Infrastructure for Comparative Effectiveness Research (WICER) project, we found that the devices give rise to inherent security issues asso...

Auction approaches of long-term contracts to ensure generation investment in electricity markets: Lessons from the Brazilian and Chilean experiences

International Nuclear Information System (INIS)

Moreno, R.; Barroso, L.A.; Rudnick, H.; Mocarquer, S.; Bezerra, B.

2010-01-01

The implementation of auctions of long-term electricity contracts is arising as an alternative to ensure generation investment and therefore achieve a reliable electricity supply. The aim is to reconcile generation adequacy with efficient energy purchase, correct risk allocation among investors and consumers, and the politico-economic environment of the country. In this paper, a generic proposal for a long-term electricity contracts approach is made, including practical design concepts for implementation. This proposal is empirically derived from the auctions implemented in Brazil and Chile during the last 6 years. The study is focused on practices and lessons which are especially useful for regulators and policy makers that want to facilitate the financing of new desirable power plants in risky environments and also efficiently allocate supply contracts among investors at competitive prices. Although this mechanism is generally seen as a significant improvement in market regulation, there are questions and concerns on auction performance that require careful design and which are identified in this paper. In addition, the experiences and proposal described can serve to derive further mechanisms in order to promote the entrance of particular generation technologies, e.g. renewables, in the developed world and therefore achieve a clean electricity supply.

The Shaping of Managers' Security Objectives through Information Security Awareness Training

Science.gov (United States)

Harris, Mark A.

2010-01-01

Information security research states that corporate security policy and information security training should be socio-technical in nature and that corporations should consider training as a primary method of protecting their information systems. However, information security policies and training are predominately technical in nature. In addition,…

Relationship Between Timing of Multiple Retention Bonuses and the Quality of Officers Retained on the Cost Savings for the Navy

Science.gov (United States)

2016-12-01

psychologically anchor an item’s value at a high price before lowering it until one bidder accepts, earning its name from the way cut flowers are sold...Using the standard bonus system compared to the uniform price auction, the Quality Adjusted Discount (QUAD) auction, and Combinatorial Retention...NUMBER OF PAGES 85 16. PRICE CODE 17. SECURITY CLASSIFICATION OF REPORT Unclassified 18. SECURITY CLASSIFICATION OF THIS PAGE Unclassified 19

EXPLORING THE CHOICE BEHAVIOR ON THE RETAILING DELIVERY PROVIDER FOR ONLINE AUCTION CONSUMERS

OpenAIRE

Wei-Shang Fan; Cheng-Min Feng; Yu-Kai Huang; Hsin-Ping Lin

2012-01-01

The development of e-commerce is an efficient business model that enables new relationships between consumers and suppliers. In particular, the online auction market is growing between 50% and 60% and, obviously, becoming a noticeable market. However, how to deliver goods to customers has become one of the challenges for sellers. In Taiwan, convenience stores have integrated e-commerce with the logistics system of convenience stores to a new retail delivery model: “Online shopping in an elect...

Electricity and long term supply security. Search for power market respectful legal instruments

International Nuclear Information System (INIS)

Finon, D.; Pignon, V.

2006-01-01

This paper, also published in 'ISMEA Economie et Societe' Journal (Energy series 2006, no.10), deals with theoretical aspects of long term electricity supply security. Market prices and contractual arrangements on the physical and financial electricity markets do not allow to create sufficient incentives to invest in adequate capacity for guaranteeing the appropriate level of supply in every circumstance. The long term security of supply by capacity adequacy must be conceptualized as a collective good. Alternative solutions to reach capacity adequacy which have been adopted in different markets are successively considered: public procurement of strategic reserves, capacity payment, capacity obligation with exchangeable rights. Each one presents theoretical limits and practical drawbacks when implemented in complex markets. That brings out the interest of mechanism of centralized auctions for forward capacity contracts (or reliability options); it combines controls by quantity and by price while stabilizing investment in peak power plants and is compatible with energy and reserves markets, that is not the case of the three other instruments. (authors)

76 FR 21350 - Auction of 700 MHz Band Licenses Scheduled for July 19, 2011; Notice and Filing Requirements...

Science.gov (United States)

2011-04-15

... notices pertaining to this auction. ii. Prohibited Communications and Compliance With Antitrust Laws To... result in enforcement action. h. Antitrust Laws 24. Applicants are also reminded that, regardless of compliance with the Commission's rules, they remain subject to the antitrust laws, which are designed to...

Estimating the impact of various menu labeling formats on parents' demand for fast-food kids' meals for their children: An experimental auction.

Science.gov (United States)

Hobin, Erin; Lillico, Heather; Zuo, Fei; Sacco, Jocelyn; Rosella, Laura; Hammond, David

2016-10-01

This study experimentally tested whether parents' demand for fast-food kids' meals for their children is influenced by various menu labeling formats disclosing calorie and sodium information. The study also examined the effect of various menu labeling formats on parents' ability to identify fast-food kids' meals with higher calorie and sodium content. Online surveys were conducted among parents of children aged 3-12. Parents were randomized to view 1 of 5 menu conditions: 1) No Nutrition Information; 2) Calories-Only; 3) Calories + Contextual Statement (CS); 4) Calories, Sodium, + CS; and, 5) Calorie and Sodium in Traffic Lights + CS. Using an established experimental auction study design, parents viewed replicated McDonald's menus according to their assigned condition and were asked to bid on 4 Happy Meals. A randomly selected price was chosen; bids equal to or above this price "won" the auction, and bids less than this price "lost" the auction. After the auction, participants were asked to identify the Happy Meal with the highest calories and sodium content. Adjusting for multiple comparisons and covariates, the Calories, Sodium, + CS menu had a mean attributed value across all 4 Happy Meals which was 8% lower (-$0.31) than the Calories + CS menu (p < 0.05). Significantly more parents in the 4 menu conditions providing calories were able to correctly identify the Happy Meal with the highest calories (p < 0.0001) and significantly more parents in the 2 conditions providing sodium information were able to correctly identify the Happy Meal with the highest sodium content (p < 0.0001). Menus disclosing both calories and sodium information may reduce demand for fast-food kids' meals and better support parents in making more informed and healthier food choices for their children. Copyright © 2016. Published by Elsevier Ltd.

76 FR 78645 - Auction of FM Broadcast Construction Permits Scheduled for March 27, 2012; Notice and Filing...

Science.gov (United States)

2011-12-19

... in media of mass communications, may cause diminishment or loss of the bidding credit, and must be... the New Entrant Bidding Credit will be unavailable in Auction 93. 55. A medium of mass communications... and non-reserved channels, are included among media of mass communications as defined in 47 CFR 73...

78 FR 24404 - Auction of Lower and Upper Paging Band Licenses Scheduled for July 16, 2013; Notice of Filing...

Science.gov (United States)

2013-04-25

... impermissible subject matters because they may convey pricing information and bidding strategies. Compliance... communicating with each other about bids, bidding strategies, or settlements unless such applicants have... strategy. In some instances, this prohibition extends to communications regarding the post-auction market...

Legally separated joint ownership of bidder and auctioneer: illustrated by the partial deregulation of the EU electricity markets

Czech Academy of Sciences Publication Activity Database

van Koten, Silvester

-, č. 346 (2007), s. 1-47 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : asymmetric auctions * bid ding behavior * electricity markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp346.pdf

77 FR 33097 - Application To Participate in an Auction for Mobility Fund Phase I Support and Application for...

Science.gov (United States)

2012-06-05

... America Fund & Intercarrier Compensation Reform Order (Order), FCC 11-161 and a Bureau Order, DA 12-147...-147] Application To Participate in an Auction for Mobility Fund Phase I Support and Application for Mobility Fund Phase I Support AGENCY: Federal Communications Commission. ACTION: Final rule; announcement...

75 FR 38545 - Notice of Realty Action: Competitive Auction of Public Lands in White Pine County, NV

Science.gov (United States)

2010-07-02

... DEPARTMENT OF THE INTERIOR Bureau of Land Management [LLNVL01000 L14300000.EU0000 241A; N-86667; 10-08807; MO 4500012445; TAS: 14X5232] Notice of Realty Action: Competitive Auction of Public Lands..., cashier's check, certified check or U.S. postal money order, or any combination thereof, and made payable...

75 FR 8703 - Auction of Lower and Upper Paging Bands Licenses Scheduled for May 25, 2010; Notice and Filing...

Science.gov (United States)

2010-02-25

... of such geographic area licensees to use certain portions of the electromagnetic spectrum or provide... of the electromagnetic spectrum or provide service to certain areas in their geographic license areas...: Wireless Telecommunications Bureau, Auctions and Spectrum Access Division: For legal questions: Scott...

Media visibility on the formation of female celebrity: Catarina, a virgin for auction

Directory of Open Access Journals (Sweden)

Lígia Campos de Cerqueira Lana

2013-09-01

Full Text Available This article analyzes the role of media visibility in the rise of CatherineMigliorini’s celebrity, famous after putting her virginity up for auction oninternet. The history of the case and its main events, texts written by experts, images and statements of Catarina are investigated from the perspective of women’s visibility transformations. Although media critique, the celebrity Catarina displayed expected abilities of women in media visibility, as the possession of a sexy, young and assertive body, able to be used as capital.

78 FR 25465 - Notice of Realty Action: Modified Competitive Auction of Public Lands in Lincoln County, NV

Science.gov (United States)

2013-05-01

... DEPARTMENT OF THE INTERIOR Bureau of Land Management [LLNVL01000. L158480000.EU0000 241A; N-86674; 12-08807; MO 4500046714; TAS: 14X5232] Notice of Realty Action: Modified Competitive Auction of..., certified check or U.S. postal money order, or any combination thereof, and made payable in U.S. dollars to...

Potential benefits of selling by auction the CIP 6 energy; Effetti della vendita tramite asta dell'energia CIP 6

Energy Technology Data Exchange (ETDEWEB)

Campidoglio, C. [Istituto per la Ricerca Sociale, Milan (Italy). Osservatorio Energia

2000-12-01

This paper analyses the potential benefits of selling by auction the CIP 6 energy. This would both reduce the supply shortage and the prices on the eligible market, increase competition on the contract-for-difference market, indicate a clear price to which regulated energy charges could be indexed, thus extending the auction benefits to the franchise market to avoid the reintroduction of cross-subsidies. [Italian] L'articolo analizza i possibili benefici della vendita tramita asta dell'energia CIP 6. In particolare, l'asta ridurrebbe la scarsita' d'offerta e quindi i pressi sul mercato libero, aumenterebbe la concorrenza nel mercato dei contratti per differenza, fornirebbe un prezzo chiaro a cui indicizzare il prezzo dell'energia in tariffa, estendendo i benefici dell'asta sul mercato vincolato ed evitando la reintroduzione di sussidi incrociati.

Electric energy auctions in Brazil and its effect on emissions of greenhouse gases by the electric sector; Leiloes de energia eletrica no Brasil e sua influencia nas emissoes de gases de efeito estufa pelo setor eletrico

Energy Technology Data Exchange (ETDEWEB)

Alpire, Ricardo; Pereira, Osvaldo Livio Soliano [Universidade Salvador (UNIFACS), BA (Brazil)

2010-07-01

The result of the auctions of electricity, after the new regulatory framework in 2004, has shown the increased participation of fossil sources of thermal generation, contributing to increased emission of greenhouse gases by the Brazilian Electricity Sector. This article aims to analyze the correlation between growth in electric generation sector and rising greenhouse gases, especially through the study of the winning projects of electric power auctions conducted with the advent of the New Institutional Model of the Power Sector from 2004, comparing with the existing policies and prospects of the next auction of the electric sector. (author)

Natural gas ballast requirement to allow participation of thermal plants in the new energy auctions: analysis and proposals; Requisito de lastro de gas natural para viabilizar a participacao de termeletricas nos leiloes de energia nova: analise e propostas

Energy Technology Data Exchange (ETDEWEB)

Avila, Pedro Luis de; Bezerra, Bernardo Vieira; Barroso, Luiz Augusto Nobrega; Pereira, Mario Veiga; Rosenblatt, Jose [PSR, Rio de Janeiro, RJ (Brazil)

2012-07-01

Since the first New Energy Auction (LEN), held in December 2005, there has been a continuous process of improving the auction rules and mechanism. For the specific case of gas-fired plants, a significant change was observed between the LEN A-3/2011 and LEN A-5/2011, and refers to the need of natural gas ballast for candidate projects in the auction. This rule was introduced by ANP Resolution No. 52, which establishes that the gas supply agreements must be backed up by proven reserves (analogous to the requirement in the power sector contracts of physical guarantee backup), and Ordinance MME No. 21/2008, which deals with power plants qualification for the new energy auctions. The latter was amended by MME Ordinance No. 514, which requires proven natural gas reserves to support the GSA of all candidate projects in a LEN. In other words, the gas supplier now has to prove that there are sufficient gas reserves to meet requirements of all candidate project in an auction, regardless of the plausibility of their engagement in the auction. In this context, the present study discusses these issues and has as main contributions: (I) a review of current regulations on contract ballast in the Brazilian natural gas sector, (II) a proposal to conciliate the need of fuel supply contract ballast to the dynamics of the natural gas sector, and (III) a proposal to conciliate the need for fuel contract ballast to the contracting process of the thermoelectric power in the new energy auctions. These contributions aim at a better integration between the sectors of natural gas and electricity in Brazil, leading to a more efficient use of resources and infrastructure development. (author)

Kyrgyzstan's security problems today

OpenAIRE

Abduvalieva, Ryskul

2009-01-01

Regional stability and security consist of two levels-the external security of each country at the regional level and the internal security of each of them individually. A state's external and internal security are closely interrelated concepts. It stands to reason that ensuring internal security and stability is the primary and most important task. But the external aspect also requires attention. This article takes a look at the most important problems of ensuring Kyrgyzstan's security.

An Analysis Of Wireless Security

OpenAIRE

Salendra Prasad

2017-01-01

The WLAN security includes Wired Equivalent Primary WEP and WI-FI protected Access WPA. Today WEP is regarded as very poor security standard. WEP was regarded as very old security standard and has many security issues which users need to be addressed. In this Paper we will discuss Wireless Security and ways to improve on wireless security.

76 FR 1158 - Auction of 700 MHz Band Licenses Scheduled for July 19, 2011; Comment Sought on Competitive...

Science.gov (United States)

2011-01-07

... geographic area for which the applicant plans to bid, and also to familiarize itself with the Commission's... licenses in any of the same or overlapping geographic areas as that applicant. 12. After the close of... should explain their reasoning. iii. Bidding Rounds 14. Auction 92 will consist of sequential bidding...

Choosing between Auctions and Negotiations in Online B2B Markets for IT Services: The Effect of Prior Relationships and Performance

NARCIS (Netherlands)

U.L. Radkevitch (Uladzimir); H.W.G.M. van Heck (Eric); O.R. Koppius (Otto)

2008-01-01

textabstractThe choice of contract allocation mechanism in procurement affects such aspects of transactions as information exchange between buyer and supplier, supplier competition, pricing and, eventually, performance. In this study we investigate the buyer’s choice between reverse auctions and

Varying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game

NARCIS (Netherlands)

Füllbrunn, S.C.; Neugebauer, T.

2013-01-01

The paper reports experimental data on the behavior in the first-price sealed-bid auction for a varying number of bidders when values and bids are private information. This feedback-free design is proposed for the experimental test of the one-shot game situation. We consider both within-subjects and

Bidding behavior when one bidder and the auctioneer are vertically integrated: implications for the partial deregulation of EU electricity markets

Czech Academy of Sciences Publication Activity Database

van Koten, Silvester

-, č. 313 (2006), s. 1-35 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : asymmetric auctions * bidding behavior * electricity markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp313.pdf

Georeferenced and secure mobile health system for large scale data collection in primary care.

Science.gov (United States)

Sa, Joao H G; Rebelo, Marina S; Brentani, Alexandra; Grisi, Sandra J F E; Iwaya, Leonardo H; Simplicio, Marcos A; Carvalho, Tereza C M B; Gutierrez, Marco A

2016-10-01

Mobile health consists in applying mobile devices and communication capabilities for expanding the coverage and improving the effectiveness of health care programs. The technology is particularly promising for developing countries, in which health authorities can take advantage of the flourishing mobile market to provide adequate health care to underprivileged communities, especially primary care. In Brazil, the Primary Care Information System (SIAB) receives primary health care data from all regions of the country, creating a rich database for health-related action planning. Family Health Teams (FHTs) collect this data in periodic visits to families enrolled in governmental programs, following an acquisition procedure that involves filling in paper forms. This procedure compromises the quality of the data provided to health care authorities and slows down the decision-making process. To develop a mobile system (GeoHealth) that should address and overcome the aforementioned problems and deploy the proposed solution in a wide underprivileged metropolitan area of a major city in Brazil. The proposed solution comprises three main components: (a) an Application Server, with a database containing family health conditions; and two clients, (b) a Web Browser running visualization tools for management tasks, and (c) a data-gathering device (smartphone) to register and to georeference the family health data. A data security framework was designed to ensure the security of data, which was stored locally and transmitted over public networks. The system was successfully deployed at six primary care units in the city of Sao Paulo, where a total of 28,324 families/96,061 inhabitants are regularly followed up by government health policies. The health conditions observed from the population covered were: diabetes in 3.40%, hypertension (age >40) in 23.87% and tuberculosis in 0.06%. This estimated prevalence has enabled FHTs to set clinical appointments proactively, with the aim of

A Robust Open Ascending-price Multi-unit Auction Protocol against False-name Bids

Science.gov (United States)

Iwasaki, Atsushi; Yokoo, Makoto; Terada, Kenji

This paper develops a new ascending-price multi-unit auction protocol that has following characteristics: (i) it has an open format, (ii) sincere bidding is an equilibrium strategy even if the marginal utilities of each agent can increase and agents can submit false-name bids. False-name bids are bids submitted under fictitious names such as multiple e-mail addresses, which can be done easily in the Internet. This is the first protocol that has these two characteristics. We show that our new protocol outperforms an existing protocol, which satisfies (ii), with respect to the social surplus and the seller's revenue.

78 FR 50086 - Notice of Competitive Auction for Solar Energy Development on Public Lands in the State of Colorado

Science.gov (United States)

2013-08-16

... Competitive Auction for Solar Energy Development on Public Lands in the State of Colorado AGENCY: Bureau of...) application and a plan of development for solar energy projects on approximately 3,705 acres of public land in... designated Solar Energy Zones (SEZ): Los Mogotes East SEZ and De Tilla Gulch SEZ. Applications for solar...

Opening of Offshore Oil Business in Mexico and Associated Framework to Cope with Potential Maritime Security Threats

Directory of Open Access Journals (Sweden)

Adriana Ávila-Zúáiga-Nordfjeld

2018-03-01

Full Text Available After 75 years of State oil monopoly, Mexico performed the first business oil round in 2015 involving the private sector. This auction-round offered 14 oil exploration fields located on the continental shelf to private companies. The development and exploitation of these hydrocarbon fields faces significant challenges regarding security. The economic loss for theft of hydrocarbons through illegal connections to pipelines is estimated to 973 million, 125 thousand U.S. dollar, only for the year of 2014. While productive research has been made, it has mainly focused on transportation systems and basically, pipelines. The development and establishment of policies prioritizing maritime security and protection of critical offshore infrastructure against theft of hydrocarbons, drugs organizations and terror attacks needs to be included in the national agenda to improve maritime security and mitigate potential security threats at sea, including damage to the marine environment. This could increase the trust of investors and stakeholders and would contribute to the faster development of new exploration and production fields. While the International Ship and Port Facility Security Code (ISPS Code is the cornerstone for the construction of the port?s security program and establishes the requirements of the Port Facility Security Plan (PFSP, including oil port facilities, it has not been fully implemented in several important Mexican ports. It is concluded that some important ports lack many of the core security processes, procedures and controls that should be included in any PFSP. This article briefly reviews the situation of the oil industry from a security perspective and discusses key elements of maritime security; addressing the necessity of the inclusion of maritime security and protection of critical oil infrastructure offshore in the national agenda that would provide for future research directions in the maritime security domain and contribute to

The Interplay of Virtual Communities: A Multiple Case Study of E-Retailers in Yahoo E-Auctions

Directory of Open Access Journals (Sweden)

Julia Zhi-Xian Zhao

2012-06-01

Full Text Available This study investigated how businesses operate e-shops in a transaction-oriented virtual community. This research employed a multiple case study approach by observing three cases of e-retailers, as being new e-commerce initiates, operating their businesses on the Yahoo! e-auction website. The results showed that e-shops displaying amusing stories can attract site visitors and “spick and span” e-shop design format can be helpful for converting visitors into buyers.

A Comparison between the Swedish 3G Beauty Contest and the UK 3G Auction

OpenAIRE

Welin, Erik

2006-01-01

This thesis compares the two different version of public franchise bidding for awarding 3G licenses used in Sweden and the UK, respectively a beauty contest and an auction. The fact is that the Swedish beauty contest has failed to tackle many of the problems discussed in connection with public franchise bidding in an effective way. Sweden has first of all had problems with enforcing the ambitious coverage criteria. The UK has on the other hand succeeded in tackling the problems and raised gov...

Y-12 Groundwater Protection Program Extent Of The Primary Groundwater Contaminants At The Y-12 National Security Complex

Energy Technology Data Exchange (ETDEWEB)

None, None

2013-12-01

This report presents data summary tables and maps used to define and illustrate the approximate lateral extent of groundwater contamination at the U.S. Department of Energy (DOE) Y-12 National Security Complex (Y-12) in Oak Ridge, Tennessee. The data tables and maps address the primary (i.e., most widespread and mobile) organic, inorganic, and radiological contaminants in the groundwater. The sampling locations, calculated contaminant concentrations, plume boundary values, and paired map format used to define, quantify, delineate, and illustrate the approximate extent of the primary organic, inorganic, and radiological contaminants in groundwater at Y-12 are described.

IDEA: A Unifying Theory for Evaluation Systems

DEFF Research Database (Denmark)

Bella, Giampaolo; Giustolisi, Rosario

2017-01-01

Secure systems for voting, exams, auctions and conference paper management are theorised to address the same problem, that of secure evaluations. In support of such a unifying theory comes a model for Secure Evaluation Systems (SES), which offers innovative common grounds to understand all four...

Report on the behalf of the Foreign Affairs Commission on: the bill adopted by the Senate and authorizing the ratification of the joint procurement agreement for a designation by auction of common bid platforms, and the bill adopted by the Senate authorizing the ratification of the joint procurement agreement for a designation by auction of an auction control. Nr 4092 and Nr 4093

International Nuclear Information System (INIS)

Guillet, Jean-Jacques

2011-01-01

This report presents the carbon quota system as an alternative to a system based on carbon taxing. It discusses the dismissal of carbon taxing and the implementation of a system based on quotas. It outlines how useful but fragile this system is, describes the three allocation stages, and presents the auction system. Then, it discusses the objectives of both agreements, comments the case of States which do not participate to the common platform

Evaluation of PersianCAT Agent's Accepting Policy in Continuous Double Auction, Participant in CAT 2007 Competition

Science.gov (United States)

Honari, Sina; Fos-Hati, Amin; Ebadi, Mojtaba; Gomrokchi, Maziar

As there is a growing tendency towards online auctions, online Multi Agent Systems for economic activities like stock exchanges is more in demand. CAT (CATallactics) competition has produced a great opportunity for researchers since 2007 to put their theories into practice in a real-time economic-based competition, combining traders and brokers. As one of participants, we evaluated our new accepting policy by putting it to challenge. In this paper we give a general overview of one of our policies in the market.

76 FR 3161 - Exemptions From Certain Prohibited Transaction Restrictions

Science.gov (United States)

2011-01-19

... exchange an Auction Rate Security for a Delivered Security; and (2) the negotiation of the terms of such... may not be relied upon by any other entity. Thus, the Department is not persuaded by the applicant's...

78 FR 45524 - Auction of H Block Licenses in the 1915-1920 MHz and 1995-2000 MHz Bands; Comment Sought on...

Science.gov (United States)

2013-07-29

... prospective transmitter sites located in, or near, the geographic area for which it plans to bid; confirm the... geographic areas as that applicant. 26. After the close of bidding, bidders' license selections, upfront... reasoning. B. Auction Structure i. Bidding Rounds 28. Under the Bureau's proposal to use an SMR format...

The Wasteland Auction Policy in Northwest China: Solving Environmental Degradation and Rural Poverty? / Rural Development in Transitional China: A Special Issue

NARCIS (Netherlands)

Ho, P.P.S.

2003-01-01

In order to relieve rural poverty and solve the problem of soil and water erosion on marginal land, various provinces and regions throughout China proclaimed a new policy in the late 1980s and early 1990s. This 'Four Wastelands Auction Policy' attempts to boost the development of land of low

Coping with Security in Programming

OpenAIRE

Frank Schindler

2006-01-01

This article deals with importance of security issues in computer programming.Secure software can only be designed with security as a primary goal. To achieve that wewould have to redesign our computer systems with security in our mind including entirecomputer environment, e.g. hardware, programming languages and, of course, operatingsystems. In software development process the quality of resulting computer code should bethe most important aspect during the whole program development process. ...

75 FR 8128 - Citigroup Inc. and Its Affiliates (Citigroup or the Applicant); Subaru of America, Inc. (Subaru...

Science.gov (United States)

2010-02-23

... Securities outside of the Offer and may otherwise buy, sell, hold or seek to restructure, redeem or otherwise....1 trillion. Citigroup's consumer and corporate banking business is a global franchise encompassing... bought and sold as follows. Auction Rate Securities are securities (issued as debt or preferred stock...

The Impact of the Term Auction Facility on the Liquidity Risk Premium and Unsecured Interbank Spreads

OpenAIRE

Syrstad, Olav

2014-01-01

This paper investigates the effectiveness of the Federal Reserve's Term Auction Facility (TAF) in alleviating the liquidity shortage in USD and reducing the spread between the 3-month Libor rate and the expected policy rate. I construct a proxy for the 3-month liquidity risk premium based on data from the FX forward market which enables me to (i) decompose the Libor spread into a liquidity premium and a credit premium, and (ii) test the effectiveness of the TAF in reducing the liquidity premi...

Effect of brand and advertising medium on demand for e-cigarettes: Evidence from an experimental auction.

Science.gov (United States)

Rousu, Matthew C; O'Connor, Richard; Corrigan, Jay

2017-09-01

Print and television advertisements for e-cigarettes are currently legal in the United States. Given that e-cigarettes are a lower-risk alternative to cigarettes, these ads could have a positive public health impact if they motivate smokers to switch to e-cigarettes. However, the public health impact of e-cigarette ads could be negative if ads increase demand for both e-cigarettes and cigarettes. We use experimental auctions -in which participants bid in real auctions and winners pay for the items they purchase - to study the effect of print and TV e-cigarettes ads on demand for the brand from the ad, for another e-cigarettes brand, and for cigarettes. We ran experiments with 288 Pennsylvania smokers in November 2014-March 2015 and we found that in cases where an ad affects demand for e-cigarettes, the ad moves demand for cigarettes in the same direction. For example, the Blu print ad increases demand for Blu e-cigarettes and cigarettes among non-white participants. The Vuse TV ad reduces demand for both types of e-cigarettes and for cigarettes. We also find that non-white participants are willing to pay more for e-cigarettes in the absence of advertising, and that smokers who worry most about their health are willing to pay more for e-cigarettes. The results of this study point to the need for greater scrutiny of advertising for e-cigarette products such that they do not also induce demand for tobacco cigarettes.

The impact of free trial acceptance on demand for alternative nicotine products: evidence from experimental auctions.

Science.gov (United States)

Rousu, Matthew C; O'Connor, Richard J; Bansal-Travers, Maansi; Pitcavage, James M; Thrasher, James F

2015-06-11

This study explored the relationship between product trials and consumer demand for alternative nicotine products (ANP). An experimental auction was conducted with 258 adult smokers, wherein participants were randomly assigned to one of four experimental conditions. The participants received the opportunity to try, but did not have to accept, one of three relatively novel ST products (i.e., snus, dissolvable tobacco, or medicinal nicotine), or they were placed into a control group (i.e., no trial). All the participants then bid on all three of these products, as well as on cigarettes. We assessed interest in using ANP based on both trial of the product and bids placed for the products in the experimental auction. Fewer smokers were willing to try snus (44%) than dissolvable tobacco (64%) or medicine nicotine (68%). For snus, we find modest evidence suggesting that willingness to try is associated with greater demand for the product. For dissolvable tobacco or medicinal nicotine, we find no evidence that those who accept the product trial have higher demand for the product. Free trials of a novel ANP were not strongly associated with product demand, as assessed by willingness to pay. Given the debate over the potential for ANP to reduce the harm from smoking, these results are important in understanding the impact of free trial offers on adoption of ST product as a strategy to reduce harm from tobacco use.

Strategic Bidding Behaviors in Nondecreasing Sponsored Search Auctions

Directory of Open Access Journals (Sweden)

Chen-Kun Tsung

2013-01-01

Full Text Available To realize the specific results in the sponsored search auctions, most advertisers submit particular bid prices. The bidding behaviors with specific purposes are called as the strategic bidding. However, some strategic bidding behaviors will result in negative effects, such as the elimination of the equilibrium and the payment increase for some advertisers. The bidding behaviors with negative results are termed as the vindictive bidding. We survey four strategic bidding behaviors which include a rational bidding and three vindictive bidding strategies. In this paper, we study the relationship between the effects resulted by the vindictive bidding and the valuations of the vindictive advertisers. In our experiments, the search engine provider (SEP is benefited by all vindictive bidding behaviors, and the increment of the SEP's revenue is proportional to the degree of the vindictiveness. Bidding vindictively without sacrificing the own utility improves the advertiser's utility with high probability. Moreover, we observe that the SEP's revenue is improved by the following situations. First, the vindictive advertiser with low valuation in the keywords with high market value results in more SEP's revenue than that in the keywords with low market value. The second case is to raise the bidding competition between advertisers.

Effect of management, marketing, and certified health programs on the sale price of beef calves sold through a livestock video auction service from 1995 through 2009.

Science.gov (United States)

Seeger, Jon T; King, Michael E; Grotelueschen, Dale M; Rogers, Glenn M; Stokka, Gerald S

2011-08-15

To evaluate and update the previously quantified effects of management, marketing, and certified health programs on the sale price of beef calves sold through a livestock video auction service. Longitudinal study. 41,657 lots representing 5,042,272 beef calves sold from 1995 through 2009. Data describing each lot of beef calves marketed from 1995 through 2009 by a livestock video auction service were obtained from sale catalogues. For each year of the study, multiple regression analysis was used to quantify the effect of management, marketing, and certified health programs on sale price. Sale date, base sale weight, quadratic effect of base weight, sex of calf, region of origin, breed description, inclusion in a certified health program, and number of calves in the lot significantly affected sale price for every year of the study. Variation in body weight, flesh score, and number of days between sale and delivery date had significant effects on price in most of the years; frame score and calves with horns affected price in 7 of 15 years; age and source verification influenced sale price in every year since source verification was introduced in 2005; and the auction service's progressive genetics program increased price during the 1 year that program was available. Some management, marketing, and certified health initiatives have consistently increased the sale price of beef calves, and producers can increase the price of their calves by implementing these practices.

Effect of brand and advertising medium on demand for e-cigarettes: Evidence from an experimental auction

Directory of Open Access Journals (Sweden)

Matthew C. Rousu

2017-09-01

Full Text Available Print and television advertisements for e-cigarettes are currently legal in the United States. Given that e-cigarettes are a lower-risk alternative to cigarettes, these ads could have a positive public health impact if they motivate smokers to switch to e-cigarettes. However, the public health impact of e-cigarette ads could be negative if ads increase demand for both e-cigarettes and cigarettes. We use experimental auctions –in which participants bid in real auctions and winners pay for the items they purchase – to study the effect of print and TV e-cigarettes ads on demand for the brand from the ad, for another e-cigarettes brand, and for cigarettes. We ran experiments with 288 Pennsylvania smokers in November 2014–March 2015 and we found that in cases where an ad affects demand for e-cigarettes, the ad moves demand for cigarettes in the same direction. For example, the Blu print ad increases demand for Blu e-cigarettes and cigarettes among non-white participants. The Vuse TV ad reduces demand for both types of e-cigarettes and for cigarettes. We also find that non-white participants are willing to pay more for e-cigarettes in the absence of advertising, and that smokers who worry most about their health are willing to pay more for e-cigarettes. The results of this study point to the need for greater scrutiny of advertising for e-cigarette products such that they do not also induce demand for tobacco cigarettes.

Market clearing of joint energy and reserves auctions using augmented payment minimization

International Nuclear Information System (INIS)

Amjady, N.; Aghaei, J.; Shayanfar, H.A.

2009-01-01

This paper presents the market clearing of joint energy and reserves auctions and its mathematical formulation, focusing on a possible implementation of the Payment Cost Minimization (PCM). It also discusses another key point in debate: whether market clearing algorithm should minimize offer costs or payment costs? An aggregated simultaneous market clearing approach is proposed for provision of ancillary services as well as energy, which is in the form of Mixed Integer Nonlinear Programming (MINLP) formulation. In the MINLP formulation of the market clearing process, the objective function (Payment cost or offer cost) are optimized while meeting AC power flow constraints, system reserve requirements and lost opportunity cost (LOC) considerations. The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS), and simulation studies are carried out to examine the effectiveness of each objective function. (author)

Open auctioning of nuclear drawing rights: a fair way out from regulated tariffs on the mass market

International Nuclear Information System (INIS)

Finon, D.

2008-12-01

The author presents a tariff approach which will consider the nuclear assets of the French operator as a property belonging to the French citizens who accepted the development of these equipment and who, as consumers, have already largely paid these assets. He describes this market mechanism which would assign drawing rights to all competitors. This mechanism is inspired by the VVP Spanish instrument, bidding or auctioning instruments implemented in different countries, and the EDF's drawing right assignment mechanism. He highlights and discusses the benefits and drawbacks of such an instrument

Efficiency of financial transmission rights markets in centrally coordinated periodic auctions

International Nuclear Information System (INIS)

Adamson, Seabron; Noe, Thomas; Parker, Geoffrey

2010-01-01

Electricity market design in the United States is increasingly dominated by locational marginal pricing (LMP) of energy and transmission. LMP markets are typically coupled with periodic auctions of financial transmission rights (FTRs) to hedge transmission price risks. While LMP designs offer considerable advantages, forward price discovery in these markets requires participants to form efficient expectations on spot congestion price differences. In this paper, we examine trends in the efficiency of one of the early LMP markets, the New York Independent System Operator (NYISO), analyzing a panel data set of over 9000 contracts over a six-year period beginning September 2000. We show that NYISO FTR markets were inefficient in their early years, but that market participants learned to predict forward prices and thus efficiency improved for FTRs not solely within the New York City/Long Island sub-region. FTRs within this sub-region, which has a number of special characteristics, remain relatively inefficient. (author)

77 FR 61771 - Facility Security Officer Training Requirements

Science.gov (United States)

2012-10-11

... following: (1) Draft model FSO training course; (2) Computer-based training and distance learning; (3... DEPARTMENT OF HOMELAND SECURITY Coast Guard [Docket No. USCG-2012-0908] Facility Security Officer... Security Officer training program, with the primary focus on developing the curriculum for such a program...

Enhancing Parliamentary Oversight for Effective Security Sector ...

African Journals Online (AJOL)

2015-06-09

Jun 9, 2015 ... transition from violent conflict or prolonged authoritarian rule. .... State whose primary interest was to secure his regime and prevent ... June 12, 1993 presidential elections triggered the emergence of violent non-state security.

International Nuclear Security Education Network (INSEN) and the Nuclear Security Training and Support Centre (NSSC) Network

International Nuclear Information System (INIS)

Nikonov, Dmitriy

2013-01-01

International Nuclear Security Education Network established in 2010: A partnership between the IAEA and universities, research institutions and other stakeholders - •Promotion of nuclear security education; • Development of educational materials; • Professional development for faculty members; • Collaborative research and resource sharing. Currently over 90 members from 38 member states. Mission: to enhance global nuclear security by developing, sharing and promoting excellence in nuclear security education. Nuclear Security Support Centre: Primary objectives are: • Develop human resources through the implementation of a tailored training programme; • Develop a network of experts; • Provide technical support for lifecycle equipment management and scientific support for the detection of and the response to nuclear security events

Risk analysis of bidding strategies in an electricity pay as bid auction: A new theorem

International Nuclear Information System (INIS)

Rahimiyan, Morteza; Rajabi Mashhadi, Habib

2007-01-01

Considering the uncertainties in the power market, the bidding problem has an important role for the power supplier to reach his goals, and using risk management methods to protect against the market risk is unavoidable. Thus, in this paper, the bidding decision making problem is formulated from a supplier's viewpoint in a spot market. The spot market works based on a pay as bid auction or a discriminatory price auction. The market clearing price (MCP) is uncertain, and we consider a probabilistic model for it. Regarding the literature of the bidding problem and forecasting methods of MCP, a normal probability density function, pdf (N(μ m , σ m )), is a proper distribution for the MCP. The statistical parameters of MCP vary on different times (peak and off peak), and considering the concept of supplier risk, their effects on the supplier expected benefit and expected sell from selling energy will be discussed analytically. An important section of this research work concerns the optimal bidding strategy when μ m and σ m vary in different conditions of the power market. Thus, the coefficient of variation index (CV), as a proper measure, mathematically defined as σ m divided by μ m , is introduced to measure the market risk index. In this paper, the CV index is used to analyze and manage the supplier risk and introduce the optimal strategy. Then, for a constant amount of the CV as a theorem, it is proved that: (1) the maximum of the expected sell occurs at a constant level of the supplier risk and (2) the optimal bid price linearly depends on the standard deviation of the MCP. This theorem is generalized for the case that the expected value of the supplier benefit is considered as an objective function in the bidding process. Some numerical examples are presented, and application of the proposed theorem is discussed

Inefficiency in the market for 'Fine Art': how this market inefficiency promotes 'Art Tourism' in South Africa

Directory of Open Access Journals (Sweden)

Peter Baur

2014-01-01

Full Text Available The market for 'Fine Art' is dominated by institutions and auction houses. These act as gatekeepers by monopolising the primary market. The choice of art as an investment vehicle is based on a combination of expected return and subjective preference. The reason for investing in 'Fine Art' is more than purely for financial gain. There are other more intrinsic factors that are considered as part of the investor decision-making process. This market for 'Fine Art' can be considered largely inefficient. Exclusivity, high prices, institutional based indexes and the overall lack of information are by far the greatest drivers of this market inefficiency. 'Art' prices are usually set in the primary market for 'Fine Art' through the auction process and the auction process should also typically reflect an efficient way of creating shared value. However, the auction process in the primary art market is not efficient and does not create shared value as would occur in a typical free market structure. The systems employed by the auction process in the primary art market is a strategy in itself, giving the impression that there is shared value, and thus distorting prices while simultaneously stimulating investor confidence. This becomes apparent when the price for 'Fine Art' does not necessarily reflect the 'true' value of the respective 'Fine Art' being sold. Thus investors may take advantage of this situation, by traveling across international borders to purchase what they would consider valuable art. In effect, art tourism is driven by market inefficiency in the 'Fine Art' market.

The Latent Structure of Secure Base Script Knowledge

Science.gov (United States)

Waters, Theodore E. A.; Fraley, R. Chris; Groh, Ashley M.; Steele, Ryan D.; Vaughn, Brian E.; Bost, Kelly K.; Veríssimo, Manuela; Coppola, Gabrielle; Roisman, Glenn I.

2015-01-01

There is increasing evidence that attachment representations abstracted from childhood experiences with primary caregivers are organized as a cognitive script describing secure base use and support (i.e., the "secure base script"). To date, however, the latent structure of secure base script knowledge has gone unexamined--this despite…

Joint market clearing in a stochastic framework considering power system security

International Nuclear Information System (INIS)

Aghaei, J.; Shayanfar, H.A.; Amjady, N.

2009-01-01

This paper presents a new stochastic framework for provision of reserve requirements (spinning and non-spinning reserves) as well as energy in day-ahead simultaneous auctions by pool-based aggregated market scheme. The uncertainty of generating units in the form of system contingencies are considered in the market clearing procedure by the stochastic model. The solution methodology consists of two stages, which firstly, employs Monte-Carlo Simulation (MCS) for random scenario generation. Then, the stochastic market clearing procedure is implemented as a series of deterministic optimization problems (scenarios) including non-contingent scenario and different post-contingency states. The objective function of each of these deterministic optimization problems consists of offered cost function (including both energy and reserves offer costs), Lost Opportunity Cost (LOC) and Expected Interruption Cost (EIC). Each optimization problem is solved considering AC power flow and security constraints of the power system. The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS) and simulation studies are carried out to examine the effectiveness of the proposed method.

The remote security station (RSS)

International Nuclear Information System (INIS)

Pletta, J.B.

1991-01-01

This paper reports that, as an outgrowth of research into physical security systems, Sandia is investigating robotic technologies for improving physical security performance and flexibility. Robotic systems have the potential to allow more effective utilization of security personnel, especially in scenarios where they might be exposed to harm. They also can supplement fixed site installations where sensors have failed or where transient assets are present. The Remote Security Station (RSS) program for the defense Nuclear Agency is developing a proof-of-principle robotic system which will be used to evaluate the role, and associated cost, of robotic technologies in exterior physical security systems. The RSS consists of three primary elements: a fixed but quickly moveable tripod with intrusion detection sensors and assessment camera; a mobile robotic platform with a functionally identical security module; and a control console which allows an operator to perform security functions and teleoperate the mobile platform

A scoping review of traditional food security in Alaska.

Science.gov (United States)

Walch, Amanda; Bersamin, Andrea; Loring, Philip; Johnson, Rhonda; Tholl, Melissa

2018-12-01

Food insecurity is a public health concern. Food security includes the pillars of food access, availability and utilisation. For some indigenous peoples, this may also include traditional foods. To conduct a scoping review on traditional foods and food security in Alaska. Google Scholar and the High North Research Documents were used to search for relevant primary research using the following terms: "traditional foods", "food security", "access", "availability", "utilisation", "Alaska", "Alaska Native" and "indigenous". Twenty four articles from Google Scholar and four articles from the High North Research Documents were selected. The articles revealed three types of research approaches, those that quantified traditional food intake (n=18), those that quantified food security (n=2), and qualitative articles that addressed at least one pillar of food security (n=8). Limited primary research is available on food security in Alaskan. Few studies directly measure food security while most provide a review of food security factors. Research investigating dietary intake of traditional foods is more prevalent, though many differences exist among participant age groups and geographical areas. Future research should include direct measurements of traditional food intake and food security to provide a more complete picture of traditional food security in Alaska.

Center for Coastline Security Technology, Year-2

Science.gov (United States)

2007-05-01

cinematic film industry . For the port security application there are several research issues being addressed under this program, specifically...being the cinematic film industry . For the port security application there are several research issues being addressed under this program...the primary customers being the film industry . For the port security application there are several research issues being addressed under this program

A Research Study on Secure Attachment Using the Primary Caregiving Approach

Science.gov (United States)

Ebbeck, Marjory; Phoon, Dora Mei Yong; Tan-Chong, Elizabeth Chai Kim; Tan, Marilyn Ai Bee; Goh, Mandy Lian Mui

2015-01-01

A child's positive sense of well-being is central to their overall growth and development. With an increasing number of mothers in the workforce, many infants and toddlers spend much time in child care services. Hence it is crucial that caregivers provide a secure base for the child to develop secure attachment with educarers. Given multiple…

The Security Education Concepts in the Textbooks of the National and Civic Education of the Primary Stage in Jordan--An Analytical Study

Science.gov (United States)

Al-Edwan, Zaid Suleiman

2016-01-01

The present study aimed at exploring the concepts of the security education in the textbooks of the national and civic education of the higher primary stage in Jordan. It adopted the descriptive analytical method. The study sample consisted of the textbooks of the national and civic education for the basic eighth, ninth and tenth grades. To…

Secure provision of reactive power ancillary services in competitive electricity markets

Science.gov (United States)

El-Samahy, Ismael

The research work presented in this thesis discusses various complex issues associated with reactive power management and pricing in the context of new operating paradigms in deregulated power systems, proposing appropriate policy solutions. An integrated two-level framework for reactive power management is set forth, which is both suitable for a competitive market and ensures a secure and reliable operation of the associated power system. The framework is generic in nature and can be adopted for any electricity market structure. The proposed hierarchical reactive power market structure comprises two stages: procurement of reactive power resources on a seasonal basis, and real-time reactive power dispatch. The main objective of the proposed framework is to provide appropriate reactive power support from service providers at least cost, while ensuring a secure operation of the power system. The proposed procurement procedure is based on a two-step optimization model. First, the marginal benefits of reactive power supply from each provider, with respect to system security, are obtained by solving a loadability-maximization problem subject to transmission security constraints imposed by voltage and thermal limits. Second, the selected set of generators is determined by solving an optimal power flow (OPF)-based auction. This auction maximizes a societal advantage function comprising generators' offers and their corresponding marginal benefits with respect to system security, and considering all transmission system constraints. The proposed procedure yields the selected set of generators and zonal price components, which would form the basis for seasonal contracts between the system operator and the selected reactive power service providers. The main objective of the proposed reactive power dispatch model is to minimize the total payment burden on the Independent System Operator (ISO), which is associated with reactive power dispatch. The real power generation is

77 FR 45690 - Exemptions From Certain Prohibited Transaction Restrictions

Science.gov (United States)

2012-08-01

... equal to the par value of the Auction Rate Security, plus any accrued but unpaid interest or dividends... Rate Security, plus any accrued but unpaid interest or dividends. The Department further emphasizes..., agreement or understanding designed to benefit a party in interest to the Plan; (k) JPMorgan Chase and its...

Physical contact influences how much people pay at celebrity auctions

Science.gov (United States)

Newman, George E.; Bloom, Paul

2014-01-01

Contagion is a form of magical thinking in which people believe that a person’s immaterial qualities or essence can be transferred to an object through physical contact. Here we investigate how a belief in contagion influences the sale of celebrity memorabilia. Using data from three high-profile estate auctions, we find that people’s expectations about the amount of physical contact between the object and the celebrity positively predicts the final bids for items that belonged to well-liked individuals (e.g., John F. Kennedy) and negatively predicts final bids for items that belonged to disliked individuals (e.g., Bernard Madoff). A follow-up experiment further suggests that these effects are driven by contagion beliefs: when asked to bid on a sweater owned by a well-liked celebrity, participants report that they would pay substantially less if it was sterilized before they received it. However, sterilization increases the amount they would pay for a sweater owned by a disliked celebrity. These studies suggest that magical thinking may still have effects in contemporary Western societies and they provide some unique demonstrations of contagion effects on real-world purchase decisions. PMID:24567388

Carbon auctions, energy markets and market power: An experimental analysis

International Nuclear Information System (INIS)

Dormady, Noah C.

2014-01-01

This paper provides an experimental analysis of a simultaneous energy-emissions market under conditions of market power. The experimental design employs real-world institutional features; including stochastic demand, permit banking, inter-temporal (multi-round) dynamics, a tightening cap, and resale. The results suggest that dominant firms can utilize energy-emissions market linkages to simultaneously inflate the price of energy and suppress the price of emissions allowances. Whereas under prior market designs, regulators were concerned with dominant firms exercising their market power over the emissions market to exclude rivals and manipulate the permit market by hoarding permits; the results of this paper suggest that this strategy is less profitable to dominant firms in contemporary auction-based markets than strategic capacity withholding in the energy market and associated demand reduction in the emissions market. - Highlights: • Laboratory simulation of joint energy-emissions market. • Evaluates market power under collusion and real-world institutional features. • Dominant firms can exercise market power to inflate energy prices. • Dominant firms can exercise market power to suppress emissions prices. • Supply withholding is an implicit demand reduction in the emissions market

Physical contact influences how much people pay at celebrity auctions.

Science.gov (United States)

Newman, George E; Bloom, Paul

2014-03-11

Contagion is a form of magical thinking in which people believe that a person's immaterial qualities or essence can be transferred to an object through physical contact. Here we investigate how a belief in contagion influences the sale of celebrity memorabilia. Using data from three high-profile estate auctions, we find that people's expectations about the amount of physical contact between the object and the celebrity positively predicts the final bids for items that belonged to well-liked individuals (e.g., John F. Kennedy) and negatively predicts final bids for items that belonged to disliked individuals (e.g., Bernard Madoff). A follow-up experiment further suggests that these effects are driven by contagion beliefs: when asked to bid on a sweater owned by a well-liked celebrity, participants report that they would pay substantially less if it was sterilized before they received it. However, sterilization increases the amount they would pay for a sweater owned by a disliked celebrity. These studies suggest that magical thinking may still have effects in contemporary Western societies and they provide some unique demonstrations of contagion effects on real-world purchase decisions.

Influence of individual rationality on continuous double auction markets with networked traders

Science.gov (United States)

Zhang, Junhuan

2018-04-01

This paper investigates the influence of individual rationality of buyers and sellers on continuous double auction market outcomes in terms of the proportion of boundedly-rational buyers and sellers. The individual rationality is discussed in a social network artificial stock market model by embedding network formation and information set. Traders automatically select the most profitable trading strategy based on individual and social learning of the profits and trading strategies of themselves and their neighbors, and submit orders to markets. The results show that (i) a higher proportion of boundedly-rational sellers induces a higher market price, higher sellers' profits and a higher market efficiency; (ii) a higher proportion of boundedly-rational sellers induces a lower number of trades and lower buyers' profits; (iii) a higher proportion of boundedly-rational buyers induces a lower market price, a lower number of trades, and lower sellers' profits; (iv) a higher proportion of boundedly-rational buyers induces higher buyers' profits and a higher market efficiency.

Critical Perspective on ASEAN's Security Policy Under ASEAN Political and Security Community

Directory of Open Access Journals (Sweden)

Irawan Jati

2016-03-01

Full Text Available   Despite economic integration challenges, ASEAN faces greater security challenges. It is obvious to assert that a stable economic development requires a secure regional atmosphere. The most probable threats against ASEAN are ranging from hostile foreign entities infiltration, intra and inter states disputes, radical religious movements, human trafficking, drugs and narcotics smuggling, cybercrimes and environmental disasters. In 2009, ASEAN established the ASEAN Political and Security Community as the umbrella of ASEAN’s political and security initiatives. APSC slots in some significant fora; ASEAN Intergovernmental Commission on Human Rights (AICHR, ASEAN Foreign Ministers Meeting (AMM,  ASEAN Regional Forum (ARF, ASEAN Defense Minister’s Meeting (ADMM, ASEAN Law Ministers Meeting (ALAWMM, and ASEAN Ministerial Meeting on Transnational Crimes (AMMTC. The wide array of these forums signify ASEAN efforts to confront double features of security; the traditional and nontraditional or critical security. The traditional security considers state security as the primary object security. While the critical security tends to focus on non-state aspects such as individual human being as its referent object. Even though some argue that APSC has been able to preserve the stability in the region, it still lack of confidence in solving critical issues such as territorial disputes and irregular migrants problems.Therefore, this piece would examine the fundamental questions: How does ASEAN address beyond state security issues in its security policy through APSC? To search for the answer this paper would apply critical security studies approach. Critical security posits that threats are not always for the states but in many cases for the people. Based on the examination of ASEAN security policies, this paper argues that ASEAN’s security policy has touched the non-traditional security issues but showing slow progress on its development and application. 

76 FR 67238 - Self-Regulatory Organizations; BATS Exchange, Inc.; Order Approving Proposed Rule Change by BATS...

Science.gov (United States)

2011-10-31

... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-65619, File No. SR-BATS-2011-032] Self-Regulatory Organizations; BATS Exchange, Inc.; Order Approving Proposed Rule Change by BATS Exchange, Inc. To Adopt Rules Applicable to Auctions Conducted by the Exchange for Exchange-Listed Securities October 25, 2011. I. Introduction On August 22, 2011,...

Sécurité du flux d'information : de la vérification à l'implémentation

OpenAIRE

Ben Said , Najah

2016-01-01

The security of information systems are paramount in today’s life, especially with the growth of complex and highly interconnected computer systems. For instance, bank systems have the obligation to guarantee the integrity and confidentiality of their costumers accounts. The electronic voting, auctions and commerce also needs confidentiality and integrity preservation.However, security verification and its distributed implementation are heavy processes in general, advanced security skills are...

"Shadow security" as a tool for the learning organization

OpenAIRE

Kirlappos, I.; Parkin, S.; Sasse, M. A.

2015-01-01

Traditionally, organizations manage information security through policies and mechanisms that employees are expected to comply with. Non-compliance with security is regarded as undesirable, and often sanctions are threatened to deter it. But in a recent study, we identified a third category of employee security behavior: shadow security. This consists of workarounds employees devise to ensure primary business goals are achieved; they also devise their own security measures to counter the risk...

Information Security Awareness On-Line Materials Design with Knowledge Maps

Science.gov (United States)

Shaw, Ruey-Shiang; Keh, Huan-Chao; Huang, Nan-Ching; Huang, Tien-Chuan

2011-01-01

Information Security Awareness, though known as a primary and important issue in the domain of Information Security, CSI computer crime and security survey showed poor security awareness training in public and private sectors. In many studies, the authors have found that the usage of knowledge maps helps the process of learning and conception…

Challenges in managing freshwater fishery resource through Lebak Lebung Auction approach: a case study in Pangkalan Lampam District Ogan Komering Ilir Regency

Science.gov (United States)

Muslimin, B.; Suadi

2018-03-01

Responsible management of fishery resources has been a tradition of Ogan Komering Ilir (OKI) of South Sumatera for generations. It was recorded that since 1630 the Dutch Government had made auction policy for managing water territory in OKI Regency as an effort to preserve nature and to avoid the conflict of inland water ownership. Currently, the community-based management model has been adopted by local governments into formal regulations, known as Regional Regulation on Auction of Flood Water Swamp and Rivers (Lelang Lebak Lebung dan Sungai or L3S). This paper describes the success factors and the threats for the failure of the L3S management model in OKI Regency, based on a case study in Pangkalan Lampam District. The study showed that the management mechanism through the L3S system had been well instituted and become a well-established management practice. The management model is in line with the principle of co-management and the approach has become critical success factor in L3S management. However, ecological, economic and social aspects influence the sustainability of such fishery management model. Besides, L3S management model faces limited data and information related to fish stocks, which result in difficulties in determining the total allowable catch.

Techniques Used in String Matching for Network Security

OpenAIRE

Jamuna Bhandari

2014-01-01

String matching also known as pattern matching is one of primary concept for network security. In this area the effectiveness and efficiency of string matching algorithms is important for applications in network security such as network intrusion detection, virus detection, signature matching and web content filtering system. This paper presents brief review on some of string matching techniques used for network security.

Measuring Short-term Energy Security

Energy Technology Data Exchange (ETDEWEB)

NONE

2011-07-01

Ensuring energy security has been at the centre of the IEA mission since its inception, following the oil crises of the early 1970s. While the security of oil supplies remains important, contemporary energy security policies must address all energy sources and cover a comprehensive range of natural, economic and political risks that affect energy sources, infrastructures and services. In response to this challenge, the IEA is currently developing a Model Of Short-term Energy Security (MOSES) to evaluate the energy security risks and resilience capacities of its member countries. The current version of MOSES covers short-term security of supply for primary energy sources and secondary fuels among IEA countries. It also lays the foundation for analysis of vulnerabilities of electricity and end-use energy sectors. MOSES contains a novel approach to analysing energy security, which can be used to identify energy security priorities, as a starting point for national energy security assessments and to track the evolution of a country's energy security profile. By grouping together countries with similar 'energy security profiles', MOSES depicts the energy security landscape of IEA countries. By extending the MOSES methodology to electricity security and energy services in the future, the IEA aims to develop a comprehensive policy-relevant perspective on global energy security. This Brochure provides and overview of the analysis and results. Readers interested in an in-depth discussion of methodology are referred to the MOSES Working Paper.

Electricity market Switzerland/Europe - Going, going, gone

International Nuclear Information System (INIS)

Tillwicks, T.

2007-01-01

This short article takes a look at how, since January 2006, power auctions have been held at the Swiss borders to Germany and Austria. In an interview with Thomas Tillwicks, head of mains economics at the Swiss national electricity network 'swissgrid', topics concerning the functions and mechanisms of bottleneck management in the Swiss national grid are discussed. The auctioning of grid capacities in Switzerland is discussed, in particular for the long-distance, Europe-wide transport of power. The auctioning mechanisms are discussed and the distribution of the returns is looked at. Positive effects on the security of supply are discussed. Effects on prices and the role of Switzerland in European power exchange are looked at. Finally, the question is posed if physical expansion of grid capacity were not a better solution

Emergence of Cooperative Long-Term Market Loyalty in Double Auction Markets.

Science.gov (United States)

Alorić, Aleksandra; Sollich, Peter; McBurney, Peter; Galla, Tobias

2016-01-01

Loyal buyer-seller relationships can arise by design, e.g. when a seller tailors a product to a specific market niche to accomplish the best possible returns, and buyers respond to the dedicated efforts the seller makes to meet their needs. We ask whether it is possible, instead, for loyalty to arise spontaneously, and in particular as a consequence of repeated interaction and co-adaptation among the agents in a market. We devise a stylized model of double auction markets and adaptive traders that incorporates these features. Traders choose where to trade (which market) and how to trade (to buy or to sell) based on their previous experience. We find that when the typical scale of market returns (or, at fixed scale of returns, the intensity of choice) become higher than some threshold, the preferred state of the system is segregated: both buyers and sellers are segmented into subgroups that are persistently loyal to one market over another. We characterize the segregated state analytically in the limit of large markets: it is stabilized by some agents acting cooperatively to enable trade, and provides higher rewards than its unsegregated counterpart both for individual traders and the population as a whole.

Effects of scarcity, aesthetics and ecology on wildlife auction prices of large African mammals.

Science.gov (United States)

Dalerum, Fredrik; Miranda, María; Muñiz, Cristina; Rodríguez, Plácido

2018-02-01

For successful integration of biological conservation into economic markets, economic processes need to capture ecological values. South African wildlife ranching is a tourist-based activity that generates unique information on the economic value of wildlife species. We used public data from South African wildlife auctions to evaluate if annual prices 1991-2012 related to species characteristics associated with scarcity, aesthetics and ecology of South African carnivores and ungulates. While none of the species characteristics influenced carnivore prices, ungulate prices were related to characteristics associated with novelty and aesthetics, which relative importance had increased over time. We raise both ecological and economic concerns for this apparent focus. Our results also suggest a potential importance of non-species-related factors, such as market and buyer characteristics. We encourage further evaluation of the relative influences of species characteristics versus factors that are intrinsically linked to economic processes on price variations in South African wildlife.

Security infrastructure for on-demand provisioned Cloud infrastructure services

NARCIS (Netherlands)

Demchenko, Y.; Ngo, C.; de Laat, C.; Wlodarczyk, T.W.; Rong, C.; Ziegler, W.

2011-01-01

Providing consistent security services in on-demand provisioned Cloud infrastructure services is of primary importance due to multi-tenant and potentially multi-provider nature of Clouds Infrastructure as a Service (IaaS) environment. Cloud security infrastructure should address two aspects of the

Enhancing energy security in Malayia: the challenges towards sustainable environment

International Nuclear Information System (INIS)

Sahid, E J M; Peng, L Y; Siang, C Ch

2013-01-01

Energy is known as one of the essential ingredients for economic development and security of energy supply is crucial in ensuring continuous economic development of a country. Malaysia's proven domestic oil reserves are estimated to last for another 25 years, while that of gas for another 39 years as of 2011. Despite the depleting indigenous energy resources, the primary energy demand has continued to grow robustly, at an annual rate of 6.3 percent per year from 1990 to 2010, while the primary energy import has grown 7.2% per year and the primary energy export has grown at a slower rate of 1.9% per year. This worrying trend is further compounded by the faster rate of primary oil import averaging 10.5% per year while the primary energy export has shrink at a rate of 1.4% per year. This paper has identified two main concerns namely overdependence on fossil fuel and increasing energy import dependency in creating a precarious position towards energy self-sufficiency. The study will analyse the energy security of the country and explore possible options and challenges in enhancing the energy supply security toward sustainable environment.

Conceptualising energy security and making explicit its polysemic nature

International Nuclear Information System (INIS)

Chester, Lynne

2010-01-01

Twenty-first century access to energy sources depends on a complex system of global markets, vast cross-border infrastructure networks, a small group of primary energy suppliers, and interdependencies with financial markets and technology. This is the context in which energy security has risen high on the policy agenda of governments around the world and the term 'energy security' has quietly slipped into the energy lexicon. The limited discourse about the nature of the term or its underlying assumptions has been totally eclipsed by an almost overwhelming focus on securing supplies of primary energy sources and geopolitics. An examination of explicit and inferred definitions finds that the concept of energy security is inherently slippery because it is polysemic in nature, capable of holding multiple dimensions and taking on different specificities depending on the country (or continent), timeframe or energy source to which it is applied. This 'slipperiness' poses analytical, prediction and policy difficulties but if explicitly recognised through definitional clarity, new levels of understanding will enrich the policy debate to deal with obstacles impacting on the constantly evolving nature of energy security.

Cloud Computing Security: A Survey

Directory of Open Access Journals (Sweden)

Issa M. Khalil

2014-02-01

Full Text Available Cloud computing is an emerging technology paradigm that migrates current technological and computing concepts into utility-like solutions similar to electricity and water systems. Clouds bring out a wide range of benefits including configurable computing resources, economic savings, and service flexibility. However, security and privacy concerns are shown to be the primary obstacles to a wide adoption of clouds. The new concepts that clouds introduce, such as multi-tenancy, resource sharing and outsourcing, create new challenges to the security community. Addressing these challenges requires, in addition to the ability to cultivate and tune the security measures developed for traditional computing systems, proposing new security policies, models, and protocols to address the unique cloud security challenges. In this work, we provide a comprehensive study of cloud computing security and privacy concerns. We identify cloud vulnerabilities, classify known security threats and attacks, and present the state-of-the-art practices to control the vulnerabilities, neutralize the threats, and calibrate the attacks. Additionally, we investigate and identify the limitations of the current solutions and provide insights of the future security perspectives. Finally, we provide a cloud security framework in which we present the various lines of defense and identify the dependency levels among them. We identify 28 cloud security threats which we classify into five categories. We also present nine general cloud attacks along with various attack incidents, and provide effectiveness analysis of the proposed countermeasures.

An aspect-oriented methodology for designing secure applications

NARCIS (Netherlands)

Georg, Geri; Ray, Indrakshi; Anastasakis, Kyriakos; Bordbar, Behzad; Toahchoodee, Manachai; Houmb, S.H.

We propose a methodology, based on aspect-oriented modeling (AOM), for incorporating security mechanisms in an application. The functionality of the application is described using the primary model and the attacks are specified using aspects. The attack aspect is composed with the primary model to

Exploring consumers’ perception and willingness to pay for “Non-Added Sulphite” wines through experimental auctions: A case study in Italy and Spain

Directory of Open Access Journals (Sweden)

Mario Amato

2017-12-01

Full Text Available Although scientific literature is still uncertain towards the real causes that can link headache episodes with moderate wine consumption, a growing proportion of consumers seems to address sulphites as possible culprits. Hence, the objective of this study is to assess consumers` willingness to pay for wine bearing a sulphites-free label in two traditional wine producing countries, Italy and Spain. The methodological framework is based on the specification of the Becker-DeGroot-Marschak (BDM type of auction applied to consumers purchasing wine in the supermarket stores of both countries. A left censored Tobit model is used to analyse the bidding behaviour for conventional and 'Non-Added Sulphite' (NAS wine. Results in both countries show that consumers who link the headaches with the consumption of sulphite are willing to exchange the habitually consumed bottle of wine with a NAS wine and pay extra premium prices. Keywords: Experimental auctions, Non-added sulphite wines, Consumer behavior

Emergence of Cooperative Long-Term Market Loyalty in Double Auction Markets

Science.gov (United States)

Alorić, Aleksandra; Sollich, Peter; McBurney, Peter; Galla, Tobias

2016-01-01

Loyal buyer-seller relationships can arise by design, e.g. when a seller tailors a product to a specific market niche to accomplish the best possible returns, and buyers respond to the dedicated efforts the seller makes to meet their needs. We ask whether it is possible, instead, for loyalty to arise spontaneously, and in particular as a consequence of repeated interaction and co-adaptation among the agents in a market. We devise a stylized model of double auction markets and adaptive traders that incorporates these features. Traders choose where to trade (which market) and how to trade (to buy or to sell) based on their previous experience. We find that when the typical scale of market returns (or, at fixed scale of returns, the intensity of choice) become higher than some threshold, the preferred state of the system is segregated: both buyers and sellers are segmented into subgroups that are persistently loyal to one market over another. We characterize the segregated state analytically in the limit of large markets: it is stabilized by some agents acting cooperatively to enable trade, and provides higher rewards than its unsegregated counterpart both for individual traders and the population as a whole. PMID:27120473

The role of auctions and forward markets in the EU ETS: counterbalancing the cost-inefficiencies of combining generous allocation with a ban on banking

Energy Technology Data Exchange (ETDEWEB)

Ehrhart, K.M.; Hoppe, C.; Schleich, J.; Seifert, S.

2005-07-01

From an analysis of the available national allocation plans for the first period (2005-2007) of the EU emissions trading scheme (EU ETS), it can be inferred that (i) the total allocation to installations covered under the EU ETS is rather generous and (ii) most EU Member States ban the transfer of allowances (banking) into the second period (2008-2012). In this article, we explore the cost-efficiency issues associated with such a generous allocation of allowances to the trading sectors in combination with the ban on banking. It is argued that allocation to the trading sectors is higher than implied by a cost-minimization approach. Moreover, due to the reduced level of flexibility, a ban on banking increases overall compliance costs. In addition, the results of a simulation game conducted with real company participants and with a student control group suggest that a generous primary allocation in the first phase combined with a ban on banking also leads to a cost-inefficient choice of abatement measures within periods. The results of the simulations are also consistent with the conjecture that forward markets and auctioning off a part of the total quantity of allowances result in more reliable price signals and most cost-efficient outcomes. (author)

Practical secure decision tree learning in a teletreatment application

NARCIS (Netherlands)

de Hoogh, Sebastiaan; Schoenmakers, Berry; Chen, Ping; op den Akker, Harm

In this paper we develop a range of practical cryptographic protocols for secure decision tree learning, a primary problem in privacy preserving data mining. We focus on particular variants of the well-known ID3 algorithm allowing a high level of security and performance at the same time. Our

Practical secure decision tree learning in a teletreatment application

NARCIS (Netherlands)

Hoogh, de S.J.A.; Schoenmakers, B.; Chen, Ping; Op den Akker, H.; Christin, N.; Safavi-Naini, R.

2014-01-01

In this paper we develop a range of practical cryptographic protocols for secure decision tree learning, a primary problem in privacy preserving data mining. We focus on particular variants of the well-known ID3 algorithm allowing a high level of security and performance at the same time. Our

PERLINDUNGAN HUKUM BAGI PENJUAL DALAM PERJANJIAN JUAL BELI KOMODITI AGRO DI PASAR LELANG FORWARD DI DAERAH ISTIMEWA YOGYAKARTA

Directory of Open Access Journals (Sweden)

Endang Heriyani

2015-08-01

Full Text Available The study on legal protection for Seller in Purchase Agreement of Agro Commodity in Auction Market in Special Territory of Yogyakarta was a normative and sociological legal research. This study aimed at knowing how the purchase agreement of agro commodity in forward auction market was applied, and how the legal protection for seller in purchase agreement of agro commodity in forward auction market was. The data used were secondary and primary data. The result of the study showed that the purchase of agro commodity in forward auction market. Legal protection for seller in purchase agreement of agro commodity in forward auction market was acquired from 3 (three things: (a The legal protection given by government, it was given through the legislation by the issue of the Decree of Ministry of Industry and Trade of Republic of Indonesia Number 650/MPP/Kep/10/2004 on terms of Operation of Auction Market with Forward Transfer of Agro Commodity. (b The legal protection from the purchase agreement of agro commodity, the agreement made by the parties applied as the law for all parties; and (c The legal protection in dispute, the problem was solved by a discussion. If the discussion made no result, arbitration would be done. Key Words: legal protection, purchase of agro commodity, forward auction market.

Conceptualising energy security and making explicit its polysemic nature

Energy Technology Data Exchange (ETDEWEB)

Chester, Lynne [The John Curtin Institute of Public Policy, Curtin University, GPO Box U1987, Perth WA 6845 (Australia)

2010-02-15

Twenty-first century access to energy sources depends on a complex system of global markets, vast cross-border infrastructure networks, a small group of primary energy suppliers, and interdependencies with financial markets and technology. This is the context in which energy security has risen high on the policy agenda of governments around the world and the term 'energy security' has quietly slipped into the energy lexicon. The limited discourse about the nature of the term or its underlying assumptions has been totally eclipsed by an almost overwhelming focus on securing supplies of primary energy sources and geopolitics. An examination of explicit and inferred definitions finds that the concept of energy security is inherently slippery because it is polysemic in nature, capable of holding multiple dimensions and taking on different specificities depending on the country (or continent), timeframe or energy source to which it is applied. This 'slipperiness' poses analytical, prediction and policy difficulties but if explicitly recognised through definitional clarity, new levels of understanding will enrich the policy debate to deal with obstacles impacting on the constantly evolving nature of energy security. (author)

Practical Computer Security through Cryptography

Science.gov (United States)

McNab, David; Twetev, David (Technical Monitor)

1998-01-01

The core protocols upon which the Internet was built are insecure. Weak authentication and the lack of low level encryption services introduce vulnerabilities that propagate upwards in the network stack. Using statistics based on CERT/CC Internet security incident reports, the relative likelihood of attacks via these vulnerabilities is analyzed. The primary conclusion is that the standard UNIX BSD-based authentication system is by far the most commonly exploited weakness. Encryption of Sensitive password data and the adoption of cryptographically-based authentication protocols can greatly reduce these vulnerabilities. Basic cryptographic terminology and techniques are presented, with attention focused on the ways in which technology such as encryption and digital signatures can be used to protect against the most commonly exploited vulnerabilities. A survey of contemporary security software demonstrates that tools based on cryptographic techniques, such as Kerberos, ssh, and PGP, are readily available and effectively close many of the most serious security holes. Nine practical recommendations for improving security are described.

Managing information security in a process industrial environment; Gestao de seguranca da informacao em processos industriais

Energy Technology Data Exchange (ETDEWEB)

Pereira, Raphael Gomes; Aguiar, Leandro Pfleger de [Siemens Company (Brazil)

2008-07-01

With the recently globalization expansion (growth), the exploration of energetic resources is crossing over countries boundaries, resulting in worldwide companies exploring Oil and Gas fields available in any place of the world. To the government's bodies, this information about those fields should be treated as a national security interest subject by bringing an adequate management and protection to all the important and critical information and assets, and making possible, at the same time, the freedom and transparency in concurrence processes. This create a complex security context to be managed, where information disruption might, for instance, imply in broke of integrity in public auctions processes as a result of privileged information usage. Furthermore, with the terrorism problem, the process itself becomes an attractive target for different kinds of attacks, motivated by the opportunism to explore the known incapacity of the big industries in well manage their large and complex environments. With all transformations that are happening in productive processes, as the growing TCP/IP protocol usage, the Windows operating systems adoption in SCADA systems and the integration of industrial with business network, are factors that contribute to an eminent landscape of problems. This landscape demonstrates the need from the organizations and countries that are operating in energetic resources exploration, for renew their risk management areas, establishing a unique and integrated process to protect information security infrastructure. This work presents a study of the challenges to be faced by the organizations while rebuilding their internal processes to integrate the risk management and information security areas, as long as a set of essential steps to establish an affective corporative governance of risk management and compliance aspects. Moreover, the work presents the necessary points of the government involvement to improve all the regulatory aspects

Maternal secure-base scripts and children's attachment security in an adopted sample.

Science.gov (United States)

Veríssimo, Manuela; Salvaterra, Fernanda

2006-09-01

Studies of families with adopted children are of special interest to attachment theorists because they afford opportunities to probe assumptions of attachment theory with regard to the developmental timing of interactions necessary to form primary attachments and also with regard to effects of shared genes on child attachment quality. In Bowlby's model, attachment-relevant behaviors and interactions are observable from the moment of birth, but for adoptive families, these interactions cannot begin until the child enters the family, sometimes several months or even years post-partum. Furthermore, because adoptive parents and adopted children do not usually share genes by common descent, any correspondence between attachment representations of the parent and secure base behavior of the child must arise as a consequence of dyadic interaction histories. The objectives of this study were to evaluate whether the child's age at the time of adoption or at the time of attachment assessment predicted child attachment security in adoptive families and also whether the adoptive mother's internal attachment representation predicted the child's attachment security. The participants were 106 mother - child dyads selected from the 406 adoptions carried out through the Lisbon Department of Adoption Services over a period of 3 years. The Attachment Behavior Q-Set (AQS; Waters, 1995) was used to assess secure base behavior and an attachment script representation task was used to assess the maternal attachment representations. Neither child's age at the time of adoption, nor age of the child at assessment significantly predicted the AQS security score; however, scores reflecting the presence and quality of maternal secure base scripts did predict AQS security. These findings support the notion that the transmission of attachment security across generations involves mutual exchanges and learning by the child and that the exchanges leading to secure attachment need not begin at birth

Surveying Public Attitudes of Security Sector Reforms in the Arab ...

International Development Research Centre (IDRC) Digital Library (Canada)

The notion that the security sector's primary responsibility is to protect and preserve autocratic Arab regimes is widely discredited today. ... of public opinion in security sector reform by providing evidence-based information on public perceptions, and in so doing, encouraging civilian oversight and transparency in the sector.

Supplier bidding strategy based on non-cooperative game theory concepts in single auction power pools

International Nuclear Information System (INIS)

Kang, Dong-Joo; Kim, Balho H.; Hur, Don

2007-01-01

In single auction power pools, only generators bid several energy price segments depending on the amount of energy supply, at individual generating companies' (GENCO) own discretion, for every trading interval. Then all selected bidders are paid a uniform Market Clearing Price (MCP). In this paper, it is realized that each GENCO has the complete information on its own payoff as well as the other parties' payoffs, corresponding to each potential combination of choices of strategies by all the players. Specifically, all the suppliers attempt to estimate the others' bids using the concept of Nash equilibrium in the general sense of profit maximization. Under some simplified assumptions, this problem can be modeled as a simultaneous-move game confronted by the bidders. Here, the system demand forecast by competitive sellers is captured for the purpose of constructing the optimal bidding strategy. Finally, a numerical example is presented demonstrating the effectiveness of the proposed solution scheme. (author)

Actual problems of the antimonopoly requirements` observance in the bidding for the sale of land in the Russian Federation

Directory of Open Access Journals (Sweden)

Alexey Pavlovich ANISIMOV

2013-06-01

Full Text Available A comprehensive view of the topic of Antimonopoly regulation in the sphere of land auctions for the Russian legal science and legal science other Eastern European countries is highly relevant. The importance of such research is that foreign companies having business in Russia are not always aware of specificity in land tendering legal regulation and antimonopoly requirements in this sphere. Moreover, the practice of violation of antimonopoly legislation in the sphere of land tendering and probable means of legislation improvement may hereby present more interest for them. The authors cite and analyze various typical violations in the sphere of land tendering, including publication of land auctions notices in an improper printing agency; lack of applications registration and putting forward extra requirements towards the participants; display for land parcels auctions for which no technical specifications of networking have been determined and no payment for such networking has been established; attempts of local administration to provide land parcels without prior approval of the objects’ places of location and without auctions (though such a procedure is of an extremely local character and is only performed in cases expressly specified by the Federal Law; collection of extra and illegal fees from physical and legal entities for participation in auctions; tendering in cases when they are not to be carried out under the Law (gardening, haymaking; underpricing of a land parcel, etc. Eventually a conclusion is drawn on the effectiveness of auctions which shall be secured by establishing a legal procedure which details and definitely determines tendering regulations, requirements towards the participants and order of agreement’s conclusion. Control on the part of antimonopoly bodies, undoubtedly, allows forming barriers for dishonest participants of the auctions. The authors assume that it is rather difficult to achieve absence of mal-usage by

Advanced topics in security computer system design

International Nuclear Information System (INIS)

Stachniak, D.E.; Lamb, W.R.

1989-01-01

The capability, performance, and speed of contemporary computer processors, plus the associated performance capability of the operating systems accommodating the processors, have enormously expanded the scope of possibilities for designers of nuclear power plant security computer systems. This paper addresses the choices that could be made by a designer of security computer systems working with contemporary computers and describes the improvement in functionality of contemporary security computer systems based on an optimally chosen design. Primary initial considerations concern the selection of (a) the computer hardware and (b) the operating system. Considerations for hardware selection concern processor and memory word length, memory capacity, and numerous processor features

Physiological and behavioral patterns of corruption.

Science.gov (United States)

Jaber-López, Tarek; García-Gallego, Aurora; Perakakis, Pandelis; Georgantzis, Nikolaos

2014-01-01

We study the behavior and emotional arousal of the participants in an experimental auction, leading to an asymmetric social dilemma involving an auctioneer and two bidders. An antisocial transfer (bribe) which is beneficial for the auctioneer (official) is paid, if promised, by the winner of the auction. Some pro-social behavior on both the auctioneers' and the bidders' sides is observed even in the absence of any punishment mechanism (Baseline, Treatment 0). However, pro-social behavior is adopted by the vast majority of subjects when the loser of the auction can inspect the transaction between the winner and the auctioneer (Inspection, Treatment 1). The inspection and punishment mechanism is such that, if a bribe is (not) revealed, both corrupt agents (the denouncing bidder) lose(s) this period's payoffs. This renders the inspection option unprofitable for the loser and is rarely used, especially toward the end of the session, when pro-social behavior becomes pervasive. Subjects' emotional arousal was obtained through skin conductance responses. Generally speaking, our findings suggest that stronger emotions are associated with decisions deviating from pure monetary reward maximization, rather than with (un)ethical behavior per se. In fact, using response times as a measure of the subject's reflection during the decision-making process, we can associate emotional arousal with the conflict between primary or instinctive and secondary or contemplative motivations and, more specifically, with deviations from the subject's pure monetary interest.

Physiological and behavioral patterns of corruption

Directory of Open Access Journals (Sweden)

Tarek eJaber-López

2014-12-01

Full Text Available We study the behavior and emotional arousal of the participants in an experimental auction, leading to an asymmetric social dilemma involving an auctioneer and two bidders. An antisocial transfer (bribe which is beneficial for the auctioneer (official is paid, if promised, by the winner of the auction. Some pro-social behavior on both the auctioneers' and the bidders' sides is observed even in the absence of any punishment mechanism (Baseline, Treatment 0. However, pro-social behavior is adopted by the vast majority of subjects when the loser of the auction can inspect the transaction between the winner and the auctioneer (Inspection, Treatment 1. The inspection and punishment mechanism is such that, if a bribe is (not revealed, both corrupt agents (the denouncing bidder lose(s this period's payoffs. This renders the inspection option unprofitable for the loser and is rarely used, especially towards the end of the session, when pro-social behavior becomes pervasive. Subjects' emotional arousal was obtained through skin conductance responses. Generally speaking, our findings suggest that stronger emotions are associated with decisions deviating from pure monetary reward maximization, rather than with (unethical behavior per se. In fact, using response times as a measure of the subject's reflection during the decision-making process, we can associate emotional arousal with the conflict between primary or instinctive and secondary or contemplative motivations and, more specifically, with deviations from the subject's pure monetary interest.

Physiological and behavioral patterns of corruption

Science.gov (United States)

Jaber-López, Tarek; García-Gallego, Aurora; Perakakis, Pandelis; Georgantzis, Nikolaos

2014-01-01

We study the behavior and emotional arousal of the participants in an experimental auction, leading to an asymmetric social dilemma involving an auctioneer and two bidders. An antisocial transfer (bribe) which is beneficial for the auctioneer (official) is paid, if promised, by the winner of the auction. Some pro-social behavior on both the auctioneers' and the bidders' sides is observed even in the absence of any punishment mechanism (Baseline, Treatment 0). However, pro-social behavior is adopted by the vast majority of subjects when the loser of the auction can inspect the transaction between the winner and the auctioneer (Inspection, Treatment 1). The inspection and punishment mechanism is such that, if a bribe is (not) revealed, both corrupt agents (the denouncing bidder) lose(s) this period's payoffs. This renders the inspection option unprofitable for the loser and is rarely used, especially toward the end of the session, when pro-social behavior becomes pervasive. Subjects' emotional arousal was obtained through skin conductance responses. Generally speaking, our findings suggest that stronger emotions are associated with decisions deviating from pure monetary reward maximization, rather than with (un)ethical behavior per se. In fact, using response times as a measure of the subject's reflection during the decision-making process, we can associate emotional arousal with the conflict between primary or instinctive and secondary or contemplative motivations and, more specifically, with deviations from the subject's pure monetary interest. PMID:25566002

Effects of information on young consumers' willingness to pay for genetically modified food: experimental auction analysis.

Science.gov (United States)

Kajale, Dilip B; Becker, T C

2014-01-01

This study examines the effects of information on consumers' willingness to pay (WTP) for genetically modified food (GMF). We used Vickrey second price experimental auction method for elicitation of consumer WTP for GM potato chips and GM soya-chocolate bar. The sample used in this study was university students from Delhi, India. Four information formats (positive, negative, no information, and combined information about GM technology) were used for the examination. The results show that, when students received the combine information they were willing to pay around 17%-20% premium for GMF and when received the negative information they demanded around 22% discount for GMF. While the positive- and the no-information formats alone have no considerable effect on consumers' WTP for GMF. Overall, our findings suggest that while doing marketing of GMF in India, the best strategy is to provide combined information about GM technology.

A study of institutional environment and household food security at ...

African Journals Online (AJOL)

The study looked into the current scenario of food security in Rwanda. After analysing the national level institutional and food security scenarios by using available secondary data, the researchers used primary data that have been collected from a random sample of 200 households spreading over six sectors of the Huye ...

Cold Vacuum Dryer (CVD) Facility Security System Design Description. System 54

International Nuclear Information System (INIS)

WHITEHURST, R.

2000-01-01

This system design description (SDD) addresses the Cold Vacuum Drying (CVD) Facility security system. The system's primary purpose is to provide reasonable assurance that breaches of security boundaries are detected and assessment information is provided to protective force personnel. In addition, the system is utilized by Operations to support reduced personnel radiation goals and to provide reasonable assurance that only authorized personnel are allowed to enter designated security areas

The secure reactors

International Nuclear Information System (INIS)

Hannerz, K.

1987-01-01

The principle of Process Inherent Ultimate Safety (PIUS) is a new approach to Light Water Reactor (LWR) safety that could represent a solution to the present problems of public distrust, regulatory maze and plant design complexity plaguing the nuclear industry in many countries. A unique thermohydraulic design of the primary system ensures core integrity, and thereby gurarantees freedom from significant releases of radioactive matter, in all credible emergencies. This is accomplished entirely without reliance on potentially failure prone engineered safety systems and with immunity to operator mistskes. The potential for human fallibility to cause accidents is thereby drastically reduced in an easily understood way. Plant design can be greatly simplified because redundant, diverse safety systems are no longer needed. The paper briefly describes the PIUS design principle and the two SECURE reactor designs based on it, i.e. SECURE-H for district heating and process steam and SECURE-P (usually known simply as PIUS) for electric power generation. Demonstration of simulated system over-all thermohydraulic function and transient response in a large electrically heated test loop is described and results from some component development work is given. (author)

The IEA Model of Short-term Energy Security

Energy Technology Data Exchange (ETDEWEB)

NONE

2011-07-01

Ensuring energy security has been at the centre of the IEA mission since its inception, following the oil crises of the early 1970s. While the security of oil supplies remains important, contemporary energy security policies must address all energy sources and cover a comprehensive range of natural, economic and political risks that affect energy sources, infrastructures and services. In response to this challenge, the IEA is currently developing a Model Of Short-term Energy Security (MOSES) to evaluate the energy security risks and resilience capacities of its member countries. The current version of MOSES covers short-term security of supply for primary energy sources and secondary fuels among IEA countries. It also lays the foundation for analysis of vulnerabilities of electricity and end-use energy sectors. MOSES contains a novel approach to analysing energy security, which can be used to identify energy security priorities, as a starting point for national energy security assessments and to track the evolution of a country's energy security profile. By grouping together countries with similar 'energy security profiles', MOSES depicts the energy security landscape of IEA countries. By extending the MOSES methodology to electricity security and energy services in the future, the IEA aims to develop a comprehensive policy-relevant perspective on global energy security. This Working Paper is intended for readers who wish to explore the MOSES methodology in depth; there is also a brochure which provides an overview of the analysis and results.

Cyber-Physical Systems Security: a Systematic Mapping Study

OpenAIRE

Lun, Yuriy Zacchia; D'Innocenzo, Alessandro; Malavolta, Ivano; Di Benedetto, Maria Domenica

2016-01-01

Cyber-physical systems are integrations of computation, networking, and physical processes. Due to the tight cyber-physical coupling and to the potentially disrupting consequences of failures, security here is one of the primary concerns. Our systematic mapping study sheds some light on how security is actually addressed when dealing with cyber-physical systems. The provided systematic map of 118 selected studies is based on, for instance, application fields, various system components, relate...

Tolerance in multi-religious society for national security: the Nigerian ...

African Journals Online (AJOL)

The study employed both primary and secondary sources of data. The primary source includes the Bible and the Qur'an while the secondary source includes books, journal articles and the Internet. The data collected were analysed using sociological approach. Keywords: National Security, Multi-Religious, Tolerance, ...

Culture, Structure and Leadership Impacts on Gender Inclusion in the Security Sector

Science.gov (United States)

2017-09-01

Culture, structure and leadership impacts on gender inclusion in the security sector 1 DANIEL K. INOUYE ASIA PACIFIC CENTER FOR SECURITY...STUDIES OCCASIONAL PAPER, SEPTEMBER 2017 Culture, structure and leadership impacts on gender inclusion in the security sector Canyon DV Abstract...Depending on your perspective, the primary challenge to gender inclusion is either culture, structure or leadership . The good news is that they are all

Tentative job analysis for a high-level, fixed-site, nuclear security officer

International Nuclear Information System (INIS)

Adams, K.G.; Trujillo, A.A.

1977-10-01

A tentative job analysis for a high-level, fixed-site, nuclear security officer is presented. The primary objective of the report is to provide a framework for evaluating the functions of a security officer in physical protection systems. Several job requirements related to duties, basic skills, personal contacts, supervision, working conditions, and decision making are presented. Individual character traits desirable in security officers are described

Security Vulnerability Profiles of NASA Mission Software: Empirical Analysis of Security Related Bug Reports

Science.gov (United States)

Goseva-Popstojanova, Katerina; Tyo, Jacob P.; Sizemore, Brian

2017-01-01

principle. Specifically, for all three datasets, from 86 to 88 the security related issues were located in two to four subsystems.- The severity levels of most security issues were moderate, in all three datasets.- Out of 21 primary security classes, five dominated: Exception Management, Memory Access, Other, Risky Values, and Unused Entities. Together, these classes contributed from around 80 to 90 of all security issues in each dataset. This again proves the Pareto principle of uneven distribution of security issues, in this case across CWE classes, and supports the fact that addressing these dominant security classes provides the most cost efficient way to improve missions' security. The findings presented in this report uncovered the security vulnerability profiles and identified the common trends and dominant classes of security issues, which in turn can be used to select the most efficient secure design and coding best practices compiled by the part of the SARP project team associated with the NASA's Johnson Space Center. In addition, these findings provide valuable input to the NASA IVV initiative aimed at identification of the two 25 CWEs of ground and flight missions.

Detection of equine herpesvirus-4 and physiological stress patterns in young Thoroughbreds consigned to a South African auction sale.

Science.gov (United States)

Badenhorst, Marcha; Page, Patrick; Ganswindt, Andre; Laver, Peter; Guthrie, Alan; Schulman, Martin

2015-06-02

The prevalence of equine herpesvirus types-1 and -4 (EHV-1 and -4) in South African Thoroughbreds at auction sales is currently undefined. Commingling of young Thoroughbreds from various populations together with physiological stress related to their transport and confinement at a sales complex, may be associated with shedding and transmission of EHV-1 and -4. This prospective cohort study sampled 90 young Thoroughbreds consigned from eight farms, originating from three provinces representative of the South African Thoroughbred breeding demographic to a sales complex. Nasal swabs for quantitative real-time polymerase chain reaction (qPCR) assay to detect EHV-1 and -4 nucleic acid and blood samples for enzyme-linked immunosorbent assay for EHV-1 and -4 antibodies were collected from all horses on arrival and departure. Additional nasal swabs for qPCR were obtained serially from those displaying pyrexia and, or nasal discharge. Daily faecal samples were used for determination of faecal glucocorticoid metabolite (FGM) concentrations as a measurement of physiological stress and these values were modelled to determine the factors best explaining FGM variability. EHV-4 nucleic acid was detected in 14.4 % and EHV-1 from none of the animals in the study population. Most (93.3 %) and very few (1.1 %) of this population showed antibodies indicating prior exposure to EHV-4 and EHV-1 respectively. Pyrexia and nasal discharge were poor predictors for detecting EHV-4 nucleic acid. The horses' FGM concentrations increased following arrival before decreasing for most of the remaining study period including the auction process. Model averaging showed that variation in FGM concentrations was best explained by days post-arrival and transport duration. In this study population, sales consignment was associated with limited detection of EHV-4 nucleic acid in nasal secretions, with most showing prior exposure to EHV-4 and very few to EHV-1. The physiological stress response shown by

Auction-Based Resource Allocation for Cooperative Video Transmission Protocols over Wireless Networks

Directory of Open Access Journals (Sweden)

Zhu Han

2009-01-01

Full Text Available Cooperative transmission has been proposed as a novel transmission strategy that takes advantage of broadcast nature of wireless networks, forms virtual MIMO system, and provides diversity gains. In this paper, wireless video transmission protocols are proposed, in which the spectrum resources are first allocated for the source side to broadcast video packets to the relay and destination, and then for the relay side to transmit side information generated from the received packets. The proposed protocols are optimized to minimize the end-to-end expected distortion via choosing bandwidth/power allocation, configuration of side information, subject to bandwidth and power constraints. For multiuser cases, most of current resource allocation approaches cannot be naturally extended and applied to the networks with relay nodes for video transmission. This paper extends the share auction approach into the cooperative video communication scenarios and provides a near-optimal solution for resource allocation. Experimental results have demonstrated that the proposed approach has significant advantage of up to 4 dB gain in single user case and 1.3 dB gain in multiuser case over the reference systems in terms of peak-to-signal-noise ratio. In addition, it reduces the formidable computational complexity of the optimal solution to linear complexity with performance degradation of less than 0.3 dB.

The Internal Aspects of Ukrainian National Security

National Research Council Canada - National Science Library

Bazhenov, Igor

1997-01-01

.... Poor economic conditions, organized crime, high levels of corruption within the government, and an irresponsible parliament are the primary causes of instability in Ukraine. Resolution of these issues is vital to Ukrainian National Security as well as the continuation of Ukrainian independence.

AP1000 Design for Security

International Nuclear Information System (INIS)

Long, L.B.; Cummins, W.E.; Winters, J.W.

2006-01-01

Nuclear power plants are protected from potential security threats through a combination of robust structures around the primary system and other vital equipment, security systems and equipment, and defensive strategy. The overall objective for nuclear power plant security is to protect public health and safety by ensuring that attacks or sabotage do not challenge the ability to safely shutdown the plant or protect from radiological releases. In addition, plants have systems, features and operational strategies to cope with external conditions, such as loss of offsite power, which could be created as part of an attack. Westinghouse considered potential security threats during design of the AP1000 PWR. The differences in plant configuration, safety system design, and safe shutdown equipment between existing plants and AP1000 affect potential vulnerabilities. This paper provides an evaluation of AP1000 with respect to vulnerabilities to security threats. The AP1000 design differs from the design of operating PWRs in the US in the configuration and the functional requirements for safety systems. These differences are intentional departures from conventional PWR designs which simplify plant design and enhance overall safety. The differences between the AP1000 PWR and conventional PWRs can impact vulnerabilities to security threats. The NRC addressed security concerns as part of their reviews for AP1000 Design Certification, and did not identify any security issues of concern. However, much of the detailed security design information for the AP1000 was deferred to the combined Construction and Operating License (COL) phase as many of the security issues are site-specific. Therefore, NRC review of security issues related to the AP1000 is not necessarily complete. Further, since the AP1000 plant design differs from existing PWRs, it is not obvious that the analyses and assessments prepared for existing plants also apply to the AP1000. We conclude that, overall, the AP1000

Measuring Dutch consumers' willingness-to-pay for ethically-improved foods and supply chains through the performance of experimental auctions

DEFF Research Database (Denmark)

Costa, Ana I.A.

for ethical benefits to be introduced in fish production, namely for those perceived to be associated with food safety. Nevertheless, these findings also point out that consumers' may not always value the ethical attributes they consider relevant in a consistent manner, especially if these seem to contradict......This paper presents the outcome of a pilot study on Dutch consumers' willingness-to-pay for fresh fish originating from production systems with different levels of ethical attributes, as estimated through the performance of experimental auctions. Fifteen Dutch citizens living in Noord......-Holland and being regular consumers of fresh fish were selected to participate in this study. Two experimental sessions were held in December 2003. Information regarding the subjects, their knowledge about fish production systems and the perceived relevance of different ethical attributes was collected prior...

Simulation Optimization of Search and Rescue in Disaster Relief Based on Distributed Auction Mechanism

Directory of Open Access Journals (Sweden)

Jian Tang

2017-11-01

Full Text Available In this paper, we optimize the search and rescue (SAR in disaster relief through agent-based simulation. We simulate rescue teams’ search behaviors with the improved Truncated Lévy walks. Then we propose a cooperative rescue plan based on a distributed auction mechanism, and illustrate it with the case of landslide disaster relief. The simulation is conducted in three scenarios, including “fatal”, “serious” and “normal”. Compared with the non-cooperative rescue plan, the proposed rescue plan in this paper would increase victims’ relative survival probability by 7–15%, increase the ratio of survivors getting rescued by 5.3–12.9%, and decrease the average elapsed time for one site getting rescued by 16.6–21.6%. The robustness analysis shows that search radius can affect the rescue efficiency significantly, while the scope of cooperation cannot. The sensitivity analysis shows that the two parameters, the time limit for completing rescue operations in one buried site and the maximum turning angle for next step, both have a great influence on rescue efficiency, and there exists optimal value for both of them in view of rescue efficiency.

A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction

Directory of Open Access Journals (Sweden)

Jian Wang

2017-11-01

Full Text Available The installed capacity of distributed generation (DG based on renewable energy sources has increased continuously in power systems, and its market-oriented transaction is imperative. However, traditional transaction management based on centralized organizations has many disadvantages, such as high operation cost, low transparency, and potential risk of transaction data modification. Therefore, a decentralized electricity transaction mode for microgrids is proposed in this study based on blockchain and continuous double auction (CDA mechanism. A buyer and seller initially complete the transaction matching in the CDA market. In view of the frequent price fluctuation in the CDA market, an adaptive aggressiveness strategy is used to adjust the quotation timely according to market changes. DG and consumer exchange digital certificate of power and expenditure on the blockchain system and the interests of consumers are then guaranteed by multi-signature when DG cannot generate power due to failure or other reasons. The digital certification of electricity assets is replaced by the sequence number with specific tags in the transaction script, and the size of digital certification can be adjusted according to transaction energy quantity. Finally, the feasibility of market mechanism through specific microgrid case and settlement process is also provided.

Process Control Systems in the Chemical Industry: Safety vs. Security

Energy Technology Data Exchange (ETDEWEB)

Jeffrey Hahn; Thomas Anderson

2005-04-01

Traditionally, the primary focus of the chemical industry has been safety and productivity. However, recent threats to our nation’s critical infrastructure have prompted a tightening of security measures across many different industry sectors. Reducing vulnerabilities of control systems against physical and cyber attack is necessary to ensure the safety, security and effective functioning of these systems. The U.S. Department of Homeland Security has developed a strategy to secure these vulnerabilities. Crucial to this strategy is the Control Systems Security and Test Center (CSSTC) established to test and analyze control systems equipment. In addition, the CSSTC promotes a proactive, collaborative approach to increase industry's awareness of standards, products and processes that can enhance the security of control systems. This paper outlines measures that can be taken to enhance the cybersecurity of process control systems in the chemical sector.

12 CFR 362.3 - Activities of insured State banks.

Science.gov (United States)

2010-01-01

... procedures in § 303.122(b) of this chapter. (iii) Acquiring and retaining adjustable rate and money market... in adjustable rate preferred stock or money market (auction rate) preferred stock does not represent... securities and not to represent a significant risk to the Deposit Insurance Fund. Such instruments shall be...

10 CFR 452.4 - Eligibility requirements.

Science.gov (United States)

2010-01-01

...) Identify one or more proposed sources of financing for the construction or expansion of the filing party's... no later than 15 days before the reverse auction for which the submission was made. A DOE decision... cellulosic biofuels production facility is or will be located; (2) Obtained secure financing commitments for...

Do You Ignore Information Security in Your Journal Website?

Science.gov (United States)

Dadkhah, Mehdi; Borchardt, Glenn; Lagzian, Mohammad

2017-08-01

Nowadays, web-based applications extend to all businesses due to their advantages and easy usability. The most important issue in web-based applications is security. Due to their advantages, most academic journals are now using these applications, with papers being submitted and published through their websites. As these websites are resources for knowledge, information security is primary for maintaining their integrity. In this opinion piece, we point out vulnerabilities in certain websites and introduce the potential for future threats. We intend to present how some journals are vulnerable and what will happen if a journal can be infected by attackers. This opinion is not a technical manual in information security, it is a short inspection that we did to improve the security of academic journals.

Inherent security benefits of underground dry storage of nuclear materials

International Nuclear Information System (INIS)

Moore, R.D.; Zahn, T.

1997-07-01

This paper, augmented by color slides and handouts, will examine the inherent security benefits of underground dry storage of nuclear materials. Specific items to be presented include: the successful implementation of this type of storage configuration at Argonne National Laboratory - West; facility design concepts with security as a primary consideration; physical barriers achieved by container design; detection, assessment, and monitoring capabilities; and open-quotes self protectionclose quotes strategies. This is a report on the security features of such a facility. The technical operational aspects of the facility are beyond the scope of this paper

Adapting electricity markets to decarbonisation and security of supply objectives: Toward a hybrid regime?

International Nuclear Information System (INIS)

Roques, Fabien; Finon, Dominique

2017-01-01

The policy objectives of decarbonisation of the electricity sector whilst maintaining security of supply have led to a new wave of market reforms in many jurisdictions which liberalised their industry. There is a wide range of models under this new hybrid regime which essentially combine the energy market with planning and long-term risk transfer arrangements. This paper takes an institutionalist approach in terms of modularity of the market design, and reviews the issues with the standard historical market model which led to the introduction of additional long term “modules”. We then study the interactions between the existing and new “modules” and identify ways in which the initial market modules can be improved to address inconsistencies with the new modules. We conclude by discussing the conditions under which the various changes in market architectures could converge toward a hybrid regime structured around a “two step competition”, with a “competition for the market” via the auctioning of long-term contracts to support investment, followed by “competition in the market” for short term system optimisation via the energy market. - Highlights: • The policy objectives of decarbonisation of the electricity sector whilst maintaining security of supply have led to a new wave of markets reforms. • Emergence of a hybrid regime combining the energy market with planning and long-term risk transfer arrangements. • Wide diversity of models in hybrid regimes, but some common fundamental features. • Replacement of the coordination function of energy prices for investment by some form of planning followed by long-term contracts. • Discussion of the conditions for possible convergence toward a “two step competition” regime.

27 CFR 70.281 - Form of bond and security required.

Science.gov (United States)

2010-04-01

..., express or telegraph money order; (v) Secured by corporate bonds or stocks, or by bonds issued by a State... of business or legal residence of the primary obligor is located; (ii) The surety must have property... which the principal place of business or legal residence of the primary obligor is located; (iv) The...

Final Report-Rail Sensor Testbed Program: Active Agents in Containers for Transport Chain Security

Science.gov (United States)

2011-03-21

information. These trust approaches have been applied to a variety of regimes, including virtual communities [14], email [15] and ecommerce [16...2004(http://www .arxiv.org/abs/cond-mat/0402143). 16. Melnik, M., Aim, J., Does a seller’s eCommerce reputation matter? evidence from eBay auctions

Mid-term follow-up of the TVT-Secur midurethral sling for primary stress incontinence.

Science.gov (United States)

Angleitner-Flotzinger, Johannes; Aigmueller, Thomas

2014-09-01

The TVT-Secur was introduced in 2006 as a less invasive alternative to retropubic and transobturator suburethral slings. This retrospective cohort study evaluated objective and subjective results in a series of 158 consecutive patients as well as complications and the reoperation rate after TVT-Secur procedure. Between November 2006 and June 2010 a total of 158 patients underwent a TVT-Secur procedure at a single institution. All patients underwent preoperative urodynamic testing. All patients were invited for follow-up including physical examination, urodynamic studies and subjective evaluation. A total of 96 patients (61%) were available for follow-up with a mean follow-up of 29.8 months (range 5-50, median 30). At follow-up, eight (8%) of 96 patients had reoperations for stress incontinence. There were no reoperations for bleeding/hematoma, tape erosions or obstructed micturition and there were no tape erosions or exposures. 29 patients (30%) had a negative cough stress test and 44 patients (46%) subjectively considered themselves "cured". Nine of 43 patients (21%) without urgency symptoms preoperatively developed de novo urgency; 24 of 35 patients (69%) with preoperative urgency complaints were free of urgency symptoms. At 2.4 years, the TVT-Secur appears to have a low adverse events profile but inferior results compared with traditional midurethral slings. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

Disarmament and national security in an interdependent world

International Nuclear Information System (INIS)

Petrovsky, V.

1993-01-01

The three notions, disarmament, national security and interdependence, which are well known, need a new reading in the today's mission for the United Nations, to facilitate the democratic, evolutionary renewal of the the interdependent world, in which disarmament could play an important role without putting at risk national security, which is of primary concern for the majority of Member States. The recognition of the unity of the wold and its interdependence is the main focal point in the process of transition of the international community to the new world system of peace, cooperation and security based on United Nations Charter. This system was outlined at the Forty-fourth session of the General Assembly, and adopted by Member States as a resolution entitled 'Enhancing international peace, security and international cooperation in all its aspects in accordance with the Charter of United Nations'

Ensuring energy security in ASEAN countries: Current trends and major challenges

Science.gov (United States)

Senderov, Sergey; Vorobev, Sergey

2018-01-01

The paper discusses the issues of formation of future challenges to energy security of the ASEAN countries in the period up to 2035. The article gives examples of strategic threats to the energy security of Russia. The opportunities to meet future demand for primary energy for individual countries of ASEAN and the whole region are discussed.

Information Governance: A Model for Security in Medical Practice

Directory of Open Access Journals (Sweden)

Patricia A.H. Williams

2007-03-01

Full Text Available Information governance is becoming an important aspect of organisational accountability. In consideration that information is an integral asset of most organisations, the protection of this asset will increasingly rely on organisational capabilities in security.  In the medical arena this information is primarily sensitive patient-based information. Previous research has shown that application of security measures is a low priority for primary care medical practice and that awareness of the risks are seriously underestimated. Consequently, information security governance will be a key issue for medical practice in the future. Information security governance is a relatively new term and there is little existing research into how to meet governance requirements. The limited research that exists describes information security governance frameworks at a strategic level. However, since medical practice is already lagging in the implementation of appropriate security, such definition may not be practical although it is obviously desirable. This paper describes an on-going action research project undertaken in the area of medical information security, and presents a tactical approach model aimed at addressing information security governance and the protection of medical data. 

Public perspectives on nuclear security. US national security surveys, 1993--1997

Energy Technology Data Exchange (ETDEWEB)

Herron, K.G.; Jenkins-Smith, H.C. [Univ. of New Mexico, Albuquerque, NM (United States). UNM Inst. for Public Policy

1998-08-01

This is the third report in a series of studies to examine how US attitudes about nuclear security are evolving in the post-Cold War era and to identify trends in public perceptions and preferences relevant to the evolution of US nuclear security policy. It presents findings from three surveys: a nationwide telephone survey of randomly selected members of the US general public; a written survey of randomly selected members of American Men and Women of Science; and a written survey of randomly selected state legislators from all fifty US states. Key areas of investigation included nuclear security, cooperation between US and Russian scientists about nuclear issues, vulnerabilities of critical US infrastructures and responsibilities for their protection, and broad areas of US national science policy. While international and US national security were seen to be slowly improving, the primary nuclear threat to the US was perceived to have shifted from Russia to China. Support was found for nuclear arms control measures, including mutual reductions in stockpiles. However, respondents were pessimistic about eliminating nuclear armaments, and nuclear deterrence continued to be highly values. Participants favored decreasing funding f/or developing and testing new nuclear weapons, but supported increased investments in nuclear weapons infrastructure. Strong concerns were expressed about nuclear proliferation and the potential for nuclear terrorism. Support was evident for US scientific cooperation with Russia to strengthen security of Russian nuclear assets. Elite and general public perceptions of external and domestic nuclear weapons risks and external and domestic nuclear weapons benefits were statistically significantly related to nuclear weapons policy options and investment preferences. Demographic variables and individual belief systems were systematically related both to risk and benefit perceptions and to policy and spending preferences.

31 CFR 356.25 - How does the settlement process work?

Science.gov (United States)

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false How does the settlement process work? 356.25 Section 356.25 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued...) Determination of Auction Awards; Settlement § 356.25 How does the settlement process work? Securities bought in...

Addressing the Challenges of Collective Security in West Africa: In View of Recent Conflicts

Science.gov (United States)

2017-06-09

security, and stability in Africa, and the Regional Economic Communities/Regional Mechanisms for conflict prevention, management and resolution (REC/RM...internal threats. Absence of conflict does not guarantee a peaceful and secure environment. Other non-military sources of instability in the economic ...Distribution is Unlimited 13. SUPPLEMENTARY NOTES 14. ABSTRACT Understanding that achieving peace and security is a primary condition for an economic

Rapidly Deployable Security System Final Report CRADA No. TC-2030-01

Energy Technology Data Exchange (ETDEWEB)

Kohlhepp, V. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); Whiteman, B. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States); McKibben, M. T. [Lawrence Livermore National Lab. (LLNL), Livermore, CA (United States)

2017-09-28

The ultimate objective of the LEADER and LLNL strategic partnership was to develop and commercialize_a security-based system product and platform for the use in protecting the substantial physical and economic assets of the government and commerce of the United States. The primary goal of this project was to integrate video surveillance hardware developed by LLNL with a security software backbone developed by LEADER. Upon completion of the project, a prototype hardware/software security system that is highly scalable was to be demonstrated.

Investor structure and the price-volume relationship in a continuous double auction market: An agent-based modeling perspective

Science.gov (United States)

Zhang, Wei; Bi, Zhengzheng; Shen, Dehua

2017-02-01

This paper investigates the impact of investor structure on the price-volume relationship by simulating a continuous double auction market. Connected with the underlying mechanisms of the price-volume relationship, i.e., the Mixture of Distribution Hypothesis (MDH) and the Sequential Information Arrival Hypothesis (SIAH), the simulation results show that: (1) there exists a strong lead-lag relationship between the return volatility and trading volume when the number of informed investors is close to the number of uninformed investors in the market; (2) as more and more informed investors entering the market, the lead-lag relationship becomes weaker and weaker, while the contemporaneous relationship between the return volatility and trading volume becomes more prominent; (3) when the informed investors are in absolute majority, the market can achieve the new equilibrium immediately. Therefore, we can conclude that the investor structure is a key factor in affecting the price-volume relationship.

Study of attack in college volleyball

Directory of Open Access Journals (Sweden)

Yordan Portela Pozo

2014-03-01

This work is done in order to analyze the positive and negative aspects that affected the performance of the auction action in volleyball players performing this action (in this case male in the Provincial University Games in 2012 in Havana , for which I take as a case study to the players of the University of Information Sciences and its opponents in those games, completing a total of 268 shares auctions in 7 games with a total of 15 September analyzed taking account of changes in the sport of Volleyball university in Cuba, data recorded by an observation sheet previously completed by the authors. The main results in this paper show that the greatest amount of shots that were done in these games were diagonal and a good percentage of positive linear auctions however were few and with very poor results. The primary role of the auction for the game's success is fully confirmed in this work because this action is achieved through many points in the game of volleyball and thus leads to a better result.

SecurePhone: a mobile phone with biometric authentication and e-signature support for dealing secure transactions on the fly

Science.gov (United States)

Ricci, R.; Chollet, G.; Crispino, M. V.; Jassim, S.; Koreman, J.; Olivar-Dimas, M.; Garcia-Salicetti, S.; Soria-Rodriguez, P.

2006-05-01

This article presents an overview of the SecurePhone project, with an account of the first results obtained. SecurePhone's primary aim is to realise a mobile phone prototype - the 'SecurePhone' - in which biometrical authentication enables users to deal secure, dependable transactions over a mobile network. The SecurePhone is based on a commercial PDA-phone, supplemented with specific software modules and a customised SIM card. It integrates in a single environment a number of advanced features: access to cryptographic keys through strong multimodal biometric authentication; appending and verification of digital signatures; real-time exchange and interactive modification of (esigned) documents and voice recordings. SecurePhone's 'biometric recogniser' is based on original research. A fused combination of three different biometric methods - speaker, face and handwritten signature verification - is exploited, with no need for dedicated hardware components. The adoption of non-intrusive, psychologically neutral biometric techniques is expected to mitigate rejection problems that often inhibit the social use of biometrics, and speed up the spread of e-signature technology. Successful biometric authentication grants access to SecurePhone's built-in esignature services through a user-friendly interface. Special emphasis is accorded to the definition of a trustworthy security chain model covering all aspects of system operation. The SecurePhone is expected to boost m-commerce and open new scenarios for m-business and m-work, by changing the way people interact and by improving trust and confidence in information technologies, often considered intimidating and difficult to use. Exploitation plans will also explore other application domains (physical and logical access control, securised mobile communications).

Human resources requirements for diabetic patients healthcare in primary care clinics of the Mexican Institute of Social Security

Directory of Open Access Journals (Sweden)

Svetlana V Doubova

2013-11-01

Full Text Available Objective. To estimate the requirements of human resources (HR of two models of care for diabetes patients: conventional and specific, also called DiabetIMSS, which are provided in primary care clinics of the Mexican Institute of Social Security (IMSS. Materials and methods. An evaluative research was conducted. An expert group identified the HR activities and time required to provide healthcare consistent with the best clinical practices for diabetic patients. HR were estimated by using the evidence-based adjusted service target approach for health workforce planning; then, comparisons between existing and estimated HRs were made. Results. To provide healthcare in accordance with the patients’ metabolic control, the conventional model required increasing the number of family doctors (1.2 times nutritionists (4.2 times and social workers (4.1 times. The DiabetIMSS model requires greater increase than the conventional model. Conclusions. Increasing HR is required to provide evidence-based healthcare to diabetes patients.

Physical protection solutions for security problems at nuclear power plants

International Nuclear Information System (INIS)

Darby, J.L.; Jacobs, J.

1980-09-01

Under Department of Energy sponsorship, Sandia National Laboratories has developed a broad technological base of components and integrated systems to address security concerns at facilities of importance, including nuclear reactors. The primary security concern at a light water reactor is radiological sabotage, a deliberate set of actions at a plant which could expose the public to a significant amount of radiation (on the order of 10 CFR 100 limits)

Security research roadmap; Security-tutkimuksen roadmap

Energy Technology Data Exchange (ETDEWEB)

Naumanen, M.; Rouhiainen, V. (eds.)

2006-02-15

Requirements for increasing security have arisen in Europe after highly visible and tragic events in Madrid and in London. While responsibility for security rests largely with the national activities, the EU has also started planning a research area .Space and security. as a part of the 7th Framework Programme. As the justification for this research area it has been presented that technology alone can not assure security, but security can not be assured without the support of technology. Furthermore, the justification highlights that security and military research are becoming ever closer. The old separation between civil and military research is decreasing, because it has been noticed that both areas are nowadays utilising the same knowledge. In Finland, there is already now noteworthy entrepreneurship related to security. Although some of the companies are currently only operating in Finland, others are already international leaders in their area. The importance of the security area is increasing and remarkable potential for new growth business areas can already be identified. This however also requires an increase in research efforts. VTT has a broad range of security research ongoing in many technology areas. The main areas have been concentrating on public safety and security, but VTT is participating also in several research projects related to the defence technology. For identifying and defining in more detail the expertise and research goals, the Security research roadmap was developed. The roadmap identified three particularly significant areas related to security. The assurance of critical infrastructure emphasises the protection of energy networks, information networks, water supply, traffic and transport, and obviously also the citizens. For assuring the activities of entrepreneurship, significant areas include the security of production and services, the security of sites and assets, and information security for embedded systems. The most important

INFORMATION SYSTEM SECURITY (CYBER SECURITY

Directory of Open Access Journals (Sweden)

Muhammad Siddique Ansari

2016-03-01

Full Text Available Abstract - Business Organizations and Government unequivocally relies on upon data to deal with their business operations. The most unfavorable impact on association is disappointment of friendship, goodness, trustworthiness, legitimacy and probability of data and administrations. There is an approach to ensure data and to deal with the IT framework's Security inside association. Each time the new innovation is made, it presents some new difficulties for the insurance of information and data. To secure the information and data in association is imperative on the grounds that association nowadays inside and remotely joined with systems of IT frameworks. IT structures are inclined to dissatisfaction and security infringement because of slips and vulnerabilities. These slips and vulnerabilities can be brought on by different variables, for example, quickly creating headway, human slip, poor key particulars, poor movement schedules or censuring the threat. Likewise, framework changes, new deserts and new strikes are a huge piece of the time displayed, which helpers augmented vulnerabilities, disappointments and security infringement all through the IT structure life cycle. The business went to the confirmation that it is essentially difficult to ensure a slip free, risk free and secure IT structure in perspective of the disfigurement of the disavowing security parts, human pass or oversight, and part or supplies frustration. Totally secure IT frameworks don't exist; just those in which the holders may have changing degrees of certainty that security needs of a framework are fulfilled do. The key viewpoints identified with security of data outlining are examined in this paper. From the start, the paper recommends pertinent legitimate structure and their duties including open association obligation, and afterward it returns to present and future time, system limits, structure security in business division. At long last, two key inadequacy markers

A protocol for the secure two-party quantum scalar product

Energy Technology Data Exchange (ETDEWEB)

He, Li-Bao, E-mail: helibao@mail.ustc.edu.cn [National High Performance Computing Center, Department of Computer Science and Technology, USTC, Hefei 230027 (China); Suzhou Institute for Advanced Study, USTC, Suzhou 215123 (China); Huang, Liu-Sheng; Yang, Wei; Xu, Rui [National High Performance Computing Center, Department of Computer Science and Technology, USTC, Hefei 230027 (China); Suzhou Institute for Advanced Study, USTC, Suzhou 215123 (China)

2012-03-19

Secure scalar product serves as an important primitive for secure multi-party computation and has a wide application in different areas, such as statistical analysis, data mining, computational geometry, etc. How to collaboratively compute the correct scalar product result without leaking any participants' private information becomes the primary principle of designing secure scalar product schemes. In this Letter, we present a secure two-party quantum scalar product scheme via quantum entanglement and quantum measurement with the help of a non-colluding third party (TP). Furthermore, the scheme is proven to be secure under various kinds of outside attacks and participant attacks. -- Highlights: ► We extend the secure two-party scalar product to the quantum field. ► Our protocol is built upon quantum entanglement and quantum measurement. ► Communication cost is acceptable if the elements of participants' private vectors are not too sparse. ► Participants will leak no private information under the no-collusion model.

A protocol for the secure two-party quantum scalar product

International Nuclear Information System (INIS)

He, Li-Bao; Huang, Liu-Sheng; Yang, Wei; Xu, Rui

2012-01-01

Secure scalar product serves as an important primitive for secure multi-party computation and has a wide application in different areas, such as statistical analysis, data mining, computational geometry, etc. How to collaboratively compute the correct scalar product result without leaking any participants' private information becomes the primary principle of designing secure scalar product schemes. In this Letter, we present a secure two-party quantum scalar product scheme via quantum entanglement and quantum measurement with the help of a non-colluding third party (TP). Furthermore, the scheme is proven to be secure under various kinds of outside attacks and participant attacks. -- Highlights: ► We extend the secure two-party scalar product to the quantum field. ► Our protocol is built upon quantum entanglement and quantum measurement. ► Communication cost is acceptable if the elements of participants' private vectors are not too sparse. ► Participants will leak no private information under the no-collusion model.

Clean air and project financing

International Nuclear Information System (INIS)

Zimmer, M.J.

1992-01-01

This article examines how environmental requirements are challenging the developers ability to secure financing for independent energy projects. The topics addressed in the article include a review of the US Environmental Protection Agency auction rules for acid rain emission allowances, short term and long term market demand, project financing issues, credit value and matching interests

75 FR 78768 - Proposed Exemptions From Certain Prohibited Transaction Restrictions

Science.gov (United States)

2010-12-16

... Auction Rate Securities; (11) A description of the risk factors relating to the Purchase Offer as TD... certain risk factors relating to the Purchase Offer; how to obtain additional information concerning the... meaning of 29 CFR 2510.3-21(c) with respect to a Plan's decision to accept the Purchase Offer or to retain...

78 FR 66955 - Exemptions From Certain Prohibited Transaction Restrictions

Science.gov (United States)

2013-11-07

... Sale is not part of an arrangement, agreement or understanding designed to benefit a party in interest... accrued but unpaid interest or dividends), any of their Auction Rate Securities to UBS at a time of their... maturity) or preferred stock; and (2) Has an interest rate or dividend that is reset at specific intervals...

26 CFR 301.7101-1 - Form of bond and security required.

Science.gov (United States)

2010-04-01

..., bank, express or telegraph money order; (v) Secured by corporate bonds or stocks, or by bonds issued by... legal residence of the primary obligor is located; (ii) He must have property subject to execution of a... or legal residence of the primary obligor is located; (iv) He must agree not to mortgage, or...

Cryptographic Combinatorial Securities Exchanges

Science.gov (United States)

Thorpe, Christopher; Parkes, David C.

We present a useful new mechanism that facilitates the atomic exchange of many large baskets of securities in a combinatorial exchange. Cryptography prevents information about the securities in the baskets from being exploited, enhancing trust. Our exchange offers institutions who wish to trade large positions a new alternative to existing methods of block trading: they can reduce transaction costs by taking advantage of other institutions’ available liquidity, while third party liquidity providers guarantee execution—preserving their desired portfolio composition at all times. In our exchange, institutions submit encrypted orders which are crossed, leaving a “remainder”. The exchange proves facts about the portfolio risk of this remainder to third party liquidity providers without revealing the securities in the remainder, the knowledge of which could also be exploited. The third parties learn either (depending on the setting) the portfolio risk parameters of the remainder itself, or how their own portfolio risk would change if they were to incorporate the remainder into a portfolio they submit. In one setting, these third parties submit bids on the commission, and the winner supplies necessary liquidity for the entire exchange to clear. This guaranteed clearing, coupled with external price discovery from the primary markets for the securities, sidesteps difficult combinatorial optimization problems. This latter method of proving how taking on the remainder would change risk parameters of one’s own portfolio, without revealing the remainder’s contents or its own risk parameters, is a useful protocol of independent interest.

The security concern on internet banking adoption among Malaysian banking customers.

Science.gov (United States)

Sudha, Raju; Thiagarajan, A S; Seetharaman, A

2007-01-01

The existing literatures highlights that the security is the primary factor which determines the adoption of Internet banking technology. The secondary information on Internet banking development in Malaysia shows a very slow growth rate. Hence, this study aims to study the banking customers perception towards security concern and Internet banking adoption through the information collected from 150 sample respondents. The data analysis reveals that the customers have much concern about security and privacy issue in adoption of Internet banking, whether the customers are adopted Internet banking or not. Hence, it infers that to popularize Internet banking system there is a need for improvement in security and privacy issue among the banking customers.

Security Vulnerability Profiles of Mission Critical Software: Empirical Analysis of Security Related Bug Reports

Science.gov (United States)

Goseva-Popstojanova, Katerina; Tyo, Jacob

2017-01-01

While some prior research work exists on characteristics of software faults (i.e., bugs) and failures, very little work has been published on analysis of software applications vulnerabilities. This paper aims to contribute towards filling that gap by presenting an empirical investigation of application vulnerabilities. The results are based on data extracted from issue tracking systems of two NASA missions. These data were organized in three datasets: Ground mission IVV issues, Flight mission IVV issues, and Flight mission Developers issues. In each dataset, we identified security related software bugs and classified them in specific vulnerability classes. Then, we created the security vulnerability profiles, i.e., determined where and when the security vulnerabilities were introduced and what were the dominating vulnerabilities classes. Our main findings include: (1) In IVV issues datasets the majority of vulnerabilities were code related and were introduced in the Implementation phase. (2) For all datasets, around 90 of the vulnerabilities were located in two to four subsystems. (3) Out of 21 primary classes, five dominated: Exception Management, Memory Access, Other, Risky Values, and Unused Entities. Together, they contributed from 80 to 90 of vulnerabilities in each dataset.

Cloud Computing Security: A Survey

OpenAIRE

Khalil, Issa; Khreishah, Abdallah; Azeem, Muhammad

2014-01-01

Cloud computing is an emerging technology paradigm that migrates current technological and computing concepts into utility-like solutions similar to electricity and water systems. Clouds bring out a wide range of benefits including configurable computing resources, economic savings, and service flexibility. However, security and privacy concerns are shown to be the primary obstacles to a wide adoption of clouds. The new concepts that clouds introduce, such as multi-tenancy, resource sharing a...

What is Security? A perspective on achieving security

Energy Technology Data Exchange (ETDEWEB)

Atencio, Julian J.

2014-05-05

This presentation provides a perspective on achieving security in an organization. It touches upon security as a mindset, ability to adhere to rules, cultivating awareness of the reason for a security mindset, the quality of a security program, willingness to admit fault or acknowledge failure, peer review in security, science as a model that can be applied to the security profession, the security vision, security partnering, staleness in the security program, security responsibilities, and achievement of success over time despite the impossibility of perfection.

Ghana's Integrated Nuclear Security Support Plan

International Nuclear Information System (INIS)

Dahlstrom, Danielle

2013-01-01

At the Korle Bu Teaching Hospital outside Accra, Pearl Lovelyn Lawson checks the records of the next patient to undergo radiotherapy and adjusts the dose settings of the teletherapy machine. It is business as usual at the facility that treats over fifty patients each day. But Lawson's routine now includes additional procedures to ensure that the highly radioactive cobalt-60 source located inside the machine remains secure. Nuclear security devices and systems such as double locks, motion sensors, and cameras that transmit images to a central alarm system have been installed to ensure that the source cannot be stolen, the facility sabotaged, or unauthorized access gained. At Korle Bu physical protection measures were upgraded as part of Ghana's Integrated Nuclear Security Support Plan (INSSP). Preventing, detecting and responding to criminal acts like the theft or illegal transfer of a radioactive source, is an international priority that could be addressed through an INSSP. As one of its key nuclear security services, the IAEA assists Member States in drafting such plans. An INSSP is developed jointly with the Member State, using a holistic approach to nuclear security capacity building. It reinforces the primary objective of a State's nuclear security regime to protect people, society, and the environment from the harmful consequences of a nuclear security event. Addressing five components - the legal and regulatory framework, prevention, detection, and sustainability - the jointly developed plan identifies the needs, responsible entities and organizations within the State, as well as the timeframe for the implementation of agreed nuclear security related activities. Ghana's INSSP, tailored to its specific needs, is based on findings and recommendations from advisory service missions carried out in Ghana, including an International Nuclear Security Advisory Service mission and an International Physical Protection Advisory Service mission. Ghana's INSSP was

Public key infrastructure for DOE security research

Energy Technology Data Exchange (ETDEWEB)

Aiken, R.; Foster, I.; Johnston, W.E. [and others

1997-06-01

This document summarizes the Department of Energy`s Second Joint Energy Research/Defence Programs Security Research Workshop. The workshop, built on the results of the first Joint Workshop which reviewed security requirements represented in a range of mission-critical ER and DP applications, discussed commonalties and differences in ER/DP requirements and approaches, and identified an integrated common set of security research priorities. One significant conclusion of the first workshop was that progress in a broad spectrum of DOE-relevant security problems and applications could best be addressed through public-key cryptography based systems, and therefore depended upon the existence of a robust, broadly deployed public-key infrastructure. Hence, public-key infrastructure ({open_quotes}PKI{close_quotes}) was adopted as a primary focus for the second workshop. The Second Joint Workshop covered a range of DOE security research and deployment efforts, as well as summaries of the state of the art in various areas relating to public-key technologies. Key findings were that a broad range of DOE applications can benefit from security architectures and technologies built on a robust, flexible, widely deployed public-key infrastructure; that there exists a collection of specific requirements for missing or undeveloped PKI functionality, together with a preliminary assessment of how these requirements can be met; that, while commercial developments can be expected to provide many relevant security technologies, there are important capabilities that commercial developments will not address, due to the unique scale, performance, diversity, distributed nature, and sensitivity of DOE applications; that DOE should encourage and support research activities intended to increase understanding of security technology requirements, and to develop critical components not forthcoming from other sources in a timely manner.

Integrating security in a group oriented distributed system

Science.gov (United States)

Reiter, Michael; Birman, Kenneth; Gong, LI

1992-01-01

A distributed security architecture is proposed for incorporation into group oriented distributed systems, and in particular, into the Isis distributed programming toolkit. The primary goal of the architecture is to make common group oriented abstractions robust in hostile settings, in order to facilitate the construction of high performance distributed applications that can tolerate both component failures and malicious attacks. These abstractions include process groups and causal group multicast. Moreover, a delegation and access control scheme is proposed for use in group oriented systems. The focus is the security architecture; particular cryptosystems and key exchange protocols are not emphasized.