Optimal auctions in a general model of identical goods

In this paper I study optimal auctions of identical goods. There is synergy in the number of goods and independent bidder’s signals.

The impact of price expectations on consumer's behavior in frequently purchased goods markets: empirical evidence and implications

Este trabalho investiga como os padrões de compras de consumidores de bens estocáveis são afetados por suas expectativas de preços. Usando um modelo dinâmico padrão de maximização da utilidade, deriva-se uma expressão analítica para as compras dos consumidores como uma função das suas expectativas em relação aos preços futuros. Em seguida, uma versão mais tratável do modelo é construída, de forma a ilustrar graficamente como os diferentes tipos de expectativas de preços implicam diferentes padrões de compras dos consumidores. Além disso, na aplicação empírica, investigo qual o modelo de expectativas de preços, entre aqueles comumente utilizados na literatura, é consistente com os dados. Por fim, encontra-se suficiente heterogeneidade em expectativa de preços dos consumidores. Mostra-se que famílias de pequeno porte acreditam que os preços seguem um processo de Markov de primeira ordem, enquanto famílias de alta renda são racionais.

Distortions in the investment goods sector and productivity decline

We study the impact of distortions in the investment goods sector on aggregate total factor productivity (TFP). We develop a two-sector neo-classical growth model in which TFP in the capital goods sector relative to TFP in the consumption sector is inversely related to the price of investment relative to consumption, so that we use relative prices to measure TFP in the investment goods sector. The model is calibrated to Brazil and we nd that distortions in the investment goods sector may explain most of the decline in Brazilian TFP relative to the United States since the mid-1970s.

Discrete public goods with incomplete information

We analyze simultaneous discrete public good games wi.th incomplete information and continuous contributions. To use the terminology of Admati and Perry (1991). we consider comribution and subscription games. In the former. comrioutions are :1ot rcfunded if the project is not completed. while in thp. iatter they are. For the special case whp.re provision by a single player is possible we show the existence of an equilibrium in Doth cootribution and subscription games where a player decides to provide the good by himself. For the case where is not feasible for a single player to provide the good by himself, we show that any equilibriwn of both games is inefficient. WE also provide a sufficient condition for "contributing zero" to be the unique equilibrium of the contribution garoe with n players and characterize e

Discrete public goods with incomplete information

We analyze simultaneous discrete public good games with incomplete information and continuous contributions. To use the tenninology of Admati and Perry (1991), we consider contribution and subscription games. In the former, contributions are not refunded ifthe project is not completed, while in the latter they are. For the special case where provision by a single player is possible we show the existence of an equihbrium in both contnbution and subscription games where a player decides to provide the good by himself. For the case where is not feasible for a single player to provide the good by himself: we show that there exist equilibria of the subscription game where each participant pays the same amount. Moreover, using the technical apparatus from Myerson (1981) we show that neither the subscription nor the contribution games admit ex-post eÁ cient equibbria. hl addition. we provide a suÁ cient condition for êontributing zero 'to be the unique equihbrium of the contnbution game with n players.

Yet another reason to tax goods

When, in a dynamic model, choices by an agent : i) are not observed, and; ii) affect preferences conditional on the realization of types, new and unexpected features come up in Mirrlees’ (1971) optimal taxation frame- work. In the simplest possible model where a non-trivial filtration may be incorporated, we show how these two characteristics make it neces- sary for IC constraints to be defined in terms of strategies rather than pure announcements. Tax prescriptions are derived, and we are able to show that uniform taxation prescription of Atkinson and Stiglitz fails to hold, in general. Clean results regarding capital income taxation are not easy to come about because usual assumption on preferences do not allow for determining which constraints bind at the optimum. However, in the most ’natural’ cases, we show that return on capital ought to be taxed.

Rumen fermentation and rumen microbes in Nellore steers receiving diets with different lipid contents

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

The importance of knowing the home conditions of patients receiving long-term oxygen therapy

Purpose: Long-term oxygen therapy (LTOT) is one of the main treatments for patients with chronic obstructive pulmonary disease. Patients receiving LTOT may have less than optimal home conditions and this may interfere with treatment. The objective of this study was, through home visits, to identify the characteristics of patients receiving LTOT and to develop knowledge regarding the home environments of these patients.Methods: Ninety-seven patients with a mean age of 69 plus or minus 10.5 years were evaluated. This study was a cross-sectional descriptive analysis. Data were collected during an initial home visit, using a questionnaire standardized for the study. The results were analyzed retrospectively.Results: Seventy-five percent of the patients had chronic obstructive pulmonary disease, and 11% were active smokers. The patients' mean pulse oximetry values were 85.9% plus or minus 4.7% on room air and 92% plus or minus 3.9% on the prescribed flow of oxygen. Most of the patients did not use the treatment as prescribed and most used a humidifier. The extension hose had a mean length of 5 plus or minus 3.9 m (range, 1.5-16 m). In the year prior to the visit, 26% of the patients received emergency medical care because of respiratory problems. Few patients reported engaging in leisure activities.Conclusion: The home visit allowed us to identify problems and interventions that could improve the way LTOT is used. The most common interventions related to smoking cessation, concentrator maintenance and cleaning, use of a humidifier, and adjustments of the length of the connector hose. Therefore, the home visit is a very important tool in providing comprehensive care to patients receiving LTOT, especially those who show lack of adequate progress and those who show uncertainty about the treatment method.

Plasma progesterone concentration in beef heifers receiving exogenous glucose, insulin, or bovine somatotropin

Three experiments were conducted to evaluate plasma concentrations of glucose, insulin, IGF-I, and progesterone (P4) in pubertal beef heifers receiving exogenous glucose, insulin, or sometribove zinc. All heifers used had no luteal P4 synthesis but received a controlled internal drug-releasing device containing 1.38 g of P4 to estimate treatment effects on hepatic P4 degradation. In Exp. 1, 8 pubertal, nulliparous Angus x Hereford heifers (initial BW = 442 +/- 14 kg; initial age = 656 +/- 7 d) were randomly assigned to receive, in a crossover design containing 2 periods of 10 h, intravenous (i.v.) infusions (10 mL) of insulin (1 mu g/kg of BW; INS) or saline (0.9%; SAL). Treatments were administered via jugular venipuncture in 7 applications (0.15 mu g insulin/kg BW per application) 45 min apart (from 0 to 270 min). Blood samples were collected immediately before each infusion as well as at -120, -60, 330, 390, and 450 min relative to the first infusion. Heifers receiving INS had greater (P < 0.01) plasma insulin, reduced (P <= 0.04) plasma glucose and IGF-I, and similar (P = 0.62) plasma P4 concentrations compared with SAL heifers. In Exp. 2, the same heifers were assigned to receive, in a similar experimental design as Exp. 1, i.v. infusions (10 mL) of 1) insulin (1 mu g/kg BW) and glucose (0.5 g/kg BW; INS+G) or 2) SAL. Heifers receiving INS+G had greater (P <= 0.02) plasma insulin, glucose, and P4 but reduced (P = 0.01) plasma IGF-I concentrations compared with SAL heifers. In Exp. 3, the same heifers were assigned to receive, in a crossover design containing 2 periods of 14 d, subcutaneous (s.c.) injections of 1) 250 mg of sometribove zinc (BST) or 2) SAL. Blood samples were collected 3 h apart (0900, 1200, 1500, and 1800 h) from heifers on d 6, 8, and 10 relative to treatment administration (d 1). Heifers receiving BST had greater (P < 0.01) plasma glucose and IGF-I and similar (P >= 0.67) plasma insulin and P4 concentrations compared with SAL heifers. Results from this series of experiments suggested that concurrent increases in glucose and insulin are required to reduce hepatic catabolism and increase plasma concentrations of P4 in bovine females.

Clinical and microbiological studies of children and adolescents receiving orthodontic treatment

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Oxidative stress and antioxidant capacity in sickle cell anaemia patients receiving different treatments and medications for different periods of time

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Carcass characteristics of broilers at 42 days receiving diets with phytase in different energy and crude protein levels

Objetivou-se, com este trabalho, estudar as características de carcaça e qualidade da carne do peito depois da inclusão de fitase em dietas para frangos de corte, com diferentes níveis de energia metabolizável aparente corrigida para nitrogênio (EMAn) e proteína bruta (PB) reduzida, suplementadas com aminoácidos essenciais seguindo o conceito de proteína ideal. Foram utilizados 1.500 frangos machos Cobb dos 22 aos 42 dias de idade com peso inicial de 833 ± 7 g e final de 2741 ± 48 g distribuídos em delineamento inteiramente casualizado em esquema fatorial 3x3+1 (três níveis de EMAn - 2950, 3100 e 3250 kcal/kg - e três de PB - 14, 16 e 18% - e um tratamento adicional - controle, sem fitase, com 3100 kcal/kg EMAn, 19,2% de PB e 0,4% de fósforo disponível) em seis repetições com 25 aves cada. Ao final do experimento, duas aves de cada parcela foram sacrificadas para a mensuração do rendimento de carcaça e de cortes e determinação da composição química da carne do peito. Os níveis de energia e proteína em rações com fitase influenciaram (P<0,05) os rendimentos de carcaça, peito e gordura abdominal a porcentagem de umidade, proteína e lipídios no músculo pectoralis major das aves, sendo os níveis de 3100 kcal EMAn/kg e 18% de PB os que proporcionaram maiores rendimentos de carcaça e de peito e menor deposição de gordura abdominal, mas em maior teor de lipídios na carne do peito. Conclui-se que a manipulação da energia em rações com reduzido teor de proteína e suplementadas com aminoácidos e fitase influencia o rendimento de cortes e a qualidade da carne do peito de frangos aos 42 dias.