Design of multiunit electronic exchanges through decomposition

In this paper, we exploit the idea of decomposition to match buyers and sellers in an electronic exchange for trading large volumes of homogeneous goods, where the buyers and sellers specify marginal-decreasing piecewise constant price curves to capture volume discounts. Such exchanges are relevant for automated trading in many e-business applications. The problem of determining winners and Vickrey prices in such exchanges is known to have a worst-case complexity equal to that of as many as (1 + m + n) NP-hard problems, where m is the number of buyers and n is the number of sellers. Our method proposes the overall exchange problem to be solved as two separate and simpler problems: 1) forward auction and 2) reverse auction, which turns out to be generalized knapsack problems. In the proposed approach, we first determine the quantity of units to be traded between the sellers and the buyers using fast heuristics developed by us. Next, we solve a forward auction and a reverse auction using fully polynomial time approximation schemes available in the literature. The proposed approach has worst-case polynomial time complexity. and our experimentation shows that the approach produces good quality solutions to the problem. Note to Practitioners- In recent times, electronic marketplaces have provided an efficient way for businesses and consumers to trade goods and services. The use of innovative mechanisms and algorithms has made it possible to improve the efficiency of electronic marketplaces by enabling optimization of revenues for the marketplace and of utilities for the buyers and sellers. In this paper, we look at single-item, multiunit electronic exchanges. These are electronic marketplaces where buyers submit bids and sellers ask for multiple units of a single item. We allow buyers and sellers to specify volume discounts using suitable functions. Such exchanges are relevant for high-volume business-to-business trading of standard products, such as silicon wafers, very large-scale integrated chips, desktops, telecommunications equipment, commoditized goods, etc. The problem of determining winners and prices in such exchanges is known to involve solving many NP-hard problems. Our paper exploits the familiar idea of decomposition, uses certain algorithms from the literature, and develops two fast heuristics to solve the problem in a near optimal way in worst-case polynomial time.

Infra-red absorption bands of co-ordinated water in titanium complexes

ORANGE red and amorphous peroxy-titanium complexes of oxalic, malonic and maleic acids1-3, when vacuum-dried, have co-ordinated water molecules firmly bonded to the central titanium atom as shown in formula (I). The peroxy-oxygen from these compounds is slowly lost even at room temperature because of the strained peroxy-group3,4. The compounds, when kept at 95°-100°C. for about three days, give deperoxygenated compounds of the type (II). However, a sample of peroxy-titanium oxalate sealed in a glass tube lost all its peroxy-oxygen in about four years and gave a white crystalline basic oxalate (II). The amorphous nature of the compounds may be due to random hydrogen bonding in the complexes. The crystallinity observed in one of the deperoxygenated titanyl oxalates may be due to the rearrangement of the molecules during ageing for more than four years. The infra-red absorption of these compounds was studied to find out the effect of co-ordination and hydrogen bonding on the infra-red bands of the free water.

Patent Price Dynamics in the Context of Patent Age and Patent Latent Variables

The decision to patent a technology is a difficult one to make for the top management of any organization. The expected value that the patent might deliver in the market is an important factor that impacts this judgement. Earlier researchers have suggested that patent prices are better indicators of value of a patent and that auction prices are the best way of determining value. However, the lack of public data on pricing has prevented research on understanding the dynamics of patent pricing. Our paper uses singleton patent auction price data of Ocean Tomo LLC to study the prices of patents. We describe price characteristics of these patents. The price of these patents was correlated with their age, and a significant correlation was found. A price - age matrix was developed and we describe the price characteristics of patents using four quadrants of the matrix, namely young and old patents with low and high prices. We also found that patents owned by small firms get transacted more often and inventor owned patents attracted a better price than assignee owned patents.

Gibbs energies of formation of chromium carbides

The carbon potentials corresponding to the two-phase mixtures Cr + Cr23C6, Cr23C6 + Cr7C3, and Cr7C3 + Cr3C2 in the binary system Cr-C were measured in the temperature range 973 to 1173 K by using the methane-hydrogen gas equilibration technique. Special precautions were taken to prevent oxidation of the samples and to minimize thermal segregation in the gas phase. The standard Gibbs energies of formation of Cr23C6, Cr7C3, and Cr3C2 were derived from the measured carbon potentials. These values are compared with those reported in the literature. The Gibbs energies obtained in this study agree well with those obtained from solid-state cells incorporating CaF2 and ThO2(Y2O3) as solid electrolytes and sealed capsule isopiestic measurements reported in the literature.

Optimal allocation of carbon credits to emitting agents in a carbon economy

Reduction of carbon emissions is of paramount importance in the context of global warming. Countries and global companies are now engaged in understanding systematic ways of achieving well defined emission targets. In fact, carbon credits have become significant and strategic instruments of finance for countries and global companies. In this paper, we formulate and suggest a solution to the carbon allocation problem, which involves determining a cost minimizing allocation of carbon credits among different emitting agents. We address this challenge in the context of a global company which is faced with the challenge of determining an allocation of carbon credit caps among its divisions in a cost effective way. The problem is formulated as a reverse auction problem where the company plays the role of a buyer or carbon planning authority and the different divisions within the company are the emitting agents that specify cost curves for carbon credit reductions. Two natural variants of the problem: (a) with unlimited budget and (b) with limited budget are considered. Suitable assumptions are made on the cost curves and in each of the two cases we show that the resulting problem formulation is a knapsack problem that can be solved optimally using a greedy heuristic. The solution of the allocation problem provides critical decision support to global companies engaged seriously in green programs.

Multi-Armed Bandit Mechanisms for Multi-Slot Sponsored Searth Auctions

In pay-per click sponsored search auctions which are currently extensively used by search engines, the auction for a keyword involves a certain number of advertisers (say k) competing for available slots (say m) to display their ads. This auction is typically conducted for a number of rounds (say T). There are click probabilities mu_ij associated with agent-slot pairs. The search engine's goal is to maximize social welfare, for example, the sum of values of the advertisers. The search engine does not know the true value of an advertiser for a click to her ad and also does not know the click probabilities mu_ij s. A key problem for the search engine therefore is to learn these during the T rounds of the auction and also to ensure that the auction mechanism is truthful. Mechanisms for addressing such learning and incentives issues have recently been introduced and would be referred to as multi-armed-bandit (MAB) mechanisms. When m = 1,characterizations for truthful MAB mechanisms are available in the literature and it has been shown that the regret for such mechanisms will be O(T^{2/3}). In this paper, we seek to derive a characterization in the realistic but nontrivial general case when m > 1 and obtain several interesting results.

Efficient Algorithms for Combinatorial Auctions with Volume Discounts Arising in Web Service Composition

Web services are now a key ingredient of software services offered by software enterprises. Many standardized web services are now available as commodity offerings from web service providers. An important problem for a web service requester is the web service composition problem which involves selecting the right mix of web service offerings to execute an end-to-end business process. Web service offerings are now available in bundled form as composite web services and more recently, volume discounts are also on offer, based on the number of executions of web services requested. In this paper, we develop efficient algorithms for the web service composition problem in the presence of composite web service offerings and volume discounts. We model this problem as a combinatorial auction with volume discounts. We first develop efficient polynomial time algorithms when the end-to-end service involves a linear workflow of web services. Next we develop efficient polynomial time algorithms when the end-to-end service involves a tree workflow of web services.

Synthetic Triterpenoid Cyano Enone of Methyl Boswellate Activates Intrinsic, Extrinsic, and Endoplasmic Reticulum Stress Cell Death Pathways in Tumor Cell Lines

We explored the effect of a novel synthetic triterpenoid compound cyano enone of methyl boswellates (CEMB) on various prostate cancer and glioma cancer cell lines. CEMB displayed concentration-dependent cytotoxic activity with submicromolar lethal dose 50% (LD(50)) values in 10 of 10 tumor cell lines tested. CEMB-induced cytotoxicity is accompanied by activation of downstream effector caspases (caspases 3 and 7) and by upstream initiator caspases involved in both the extrinsic (caspase 8) and intrinsic (caspase 9) apoptotic pathways. By using short interfering RNAs (siRNA), we show evidence that knockdown of caspase 8, DR4, Apaf-1, and Bid impairs CEMB-induced cell death. Similar to other proapoptotic synthetic triterpenoid compounds, CEMB-induced apoptosis involved endoplasmic reticulum stress, as shown by partial rescue of tumor cells by siRNA-mediated knockdown of expression of genes involved in the unfolded protein response such as IRE1 alpha, PERK, and ATF6. Altogether, our results suggest that CEMB stimulates several apoptotic pathways in cancer cells, suggesting that this compound should be evaluated further as a potential agent for cancer therapy. Mol Cancer Ther; 10(9); 1635-43. (C)2011 AACR.

An intelligent procurement marketplace for web services composition

This paper presents an intelligent procurement marketplace for finding the best mix of web services to dynamically compose the business process desired by a web service requester. We develop a combinatorial auction approach that leads to an integer programming formulation for the web services composition problem. The model takes into account the Quality of Service (QoS) and Service Level Agreements (SLA) for differentiating among multiple service providers who are capable of fulfilling a functionality. An important feature of the model is interface aware composition.

Dynamics between patent latent variables and patent price

This paper focuses on studying the relationship between patent latent variables and patent price. From the existing literature, seven patent latent variables, namely age, generality, originality, foreign filings, technology field, forward citations, and backward citations were identified as having an influence on patent value. We used Ocean Tomo's patent auction price data in this study. We transformed the price and the predictor variables (excluding the dummy variables) to its logarithmic value. The OLS estimates revealed that forward citations and foreign filings were positively correlated to price. Both the variables jointly explained 14.79% of the variance in patent pricing. We did not find sufficient evidence to come up with any definite conclusions on the relationship between price and the variables such as age, technology field, generality, backward citations and originality. The Heckman two-stage sample selection model was used to test for selection bias. (C) 2011 Elsevier Ltd. All rights reserved.

Trade determination in multi-attribute exchanges

Electronic exchanges are double-sided marketplaces that allow multiple buyers to trade with multiple sellers, with aggregation of demand and supply across the bids to maximize the revenue in the market. Two important issues in the design of exchanges are (1) trade determination (determining the number of goods traded between any buyer-seller pair) and (2) pricing. In this paper we address the trade determination issue for one-shot, multi-attribute exchanges that trade multiple units of the same good. The bids are configurable with separable additive price functions over the attributes and each function is continuous and piecewise linear. We model trade determination as mixed integer programming problems for different possible bid structures and show that even in two-attribute exchanges, trade determination is NP-hard for certain bid structures. We also make some observations on the pricing issues that are closely related to the mixed integer formulations.

Novel Levamisole Derivative Induces Extrinsic Pathway of Apoptosis in Cancer Cells and Inhibits Tumor Progression in Mice

Background: Levamisole, an imidazo(2,1-b) thiazole derivative, has been reported to be a potential antitumor agent. In the present study, we have investigated the mechanism of action of one of the recently identified analogues, 4a (2-benzyl-6-(4'-fluorophenyl)-5-thiocyanato-imidazo2,1-b]1,3,4]thi adiazole). Materials and Methods: ROS production and expression of various apoptotic proteins were measured following 4a treatment in leukemia cell lines. Tumor animal models were used to evaluate the effect of 4a in comparison with Levamisole on progression of breast adenocarcinoma and survival. Immunohistochemistry and western blotting studies were performed to understand the mechanism of 4a action both ex vivo and in vivo. Results: We have determined the IC50 value of 4a in many leukemic and breast cancer cell lines and found CEM cells most sensitive (IC50 5 mu M). Results showed that 4a treatment leads to the accumulation of ROS. Western blot analysis showed upregulation of pro-apoptotic proteins t-BID and BAX, upon treatment with 4a. Besides, dose-dependent activation of p53 along with FAS, FAS-L, and cleavage of CASPASE-8 suggest that it induces death receptor mediated apoptotic pathway in CEM cells. More importantly, we observed a reduction in tumor growth and significant increase in survival upon oral administration of 4a (20 mg/kg, six doses) in mice. In comparison, 4a was found to be more potent than its parental analogue Levamisole based on both ex vivo and in vivo studies. Further, immunohistochemistry and western blotting studies indicate that 4a treatment led to abrogation of tumor cell proliferation and activation of apoptosis by the extrinsic pathway even in animal models. Conclusion: Thus, our results suggest that 4a could be used as a potent chemotherapeutic agent.

Direct ultrafast laser written C-band waveguide amplifier in Er-doped chalcogenide glass

This paper reports the fabrication and characterization of an ultrafast laser written Er-doped chalcogenide glass buried waveguide amplifier; Er-doped GeGaS glass has been synthesized by the vacuum sealed melt quenching technique. Waveguides have been fabricated inside the 4 mm long sample by direct ultrafast laser writing. The total passive fiber-to-fiber insertion loss is 2.58 +/- 0.02 dB at 1600 nm, including a propagation loss of 1.6 +/- 0.3 dB. Active characterization shows a relative gain of 2.524 +/- 0.002 dB/cm and 1.359 +/- 0.005 dB/cm at 1541 nm and 1550 nm respectively, for a pump power of 500 mW at a wavelength of 980 nm. (C) 2012 Optical Society of America

Truthful multi-armed bandit mechanisms for multi-slot sponsored search auctions

In pay-per-click sponsored search auctions which are currently extensively used by search engines, the auction for a keyword involves a certain number of advertisers (say k) competing for available slots (say m) to display their advertisements (ads for short). A sponsored search auction for a keyword is typically conducted for a number of rounds (say T). There are click probabilities mu(ij) associated with each agent slot pair (agent i and slot j). The search engine would like to maximize the social welfare of the advertisers, that is, the sum of values of the advertisers for the keyword. However, the search engine does not know the true values advertisers have for a click to their respective advertisements and also does not know the click probabilities. A key problem for the search engine therefore is to learn these click probabilities during the initial rounds of the auction and also to ensure that the auction mechanism is truthful. Mechanisms for addressing such learning and incentives issues have recently been introduced. These mechanisms, due to their connection to the multi-armed bandit problem, are aptly referred to as multi-armed bandit (MAB) mechanisms. When m = 1, exact characterizations for truthful MAB mechanisms are available in the literature. Recent work has focused on the more realistic but non-trivial general case when m > 1 and a few promising results have started appearing. In this article, we consider this general case when m > 1 and prove several interesting results. Our contributions include: (1) When, mu(ij)s are unconstrained, we prove that any truthful mechanism must satisfy strong pointwise monotonicity and show that the regret will be Theta T7) for such mechanisms. (2) When the clicks on the ads follow a certain click precedence property, we show that weak pointwise monotonicity is necessary for MAB mechanisms to be truthful. (3) If the search engine has a certain coarse pre-estimate of mu(ij) values and wishes to update them during the course of the T rounds, we show that weak pointwise monotonicity and type-I separatedness are necessary while weak pointwise monotonicity and type-II separatedness are sufficient conditions for the MAB mechanisms to be truthful. (4) If the click probabilities are separable into agent-specific and slot-specific terms, we provide a characterization of MAB mechanisms that are truthful in expectation.