Inseparable, incapable, or invisible: Why public organizations award no-bid contracts

No-bid contracting is a highly prevalent practice in public procurement of technology services. Alt-hough no-bid contracting is a substantial problem since it reduces competition and welfare, the litera-ture lacks theoretical explanations and empirical tests for why public organizations award no-bid con-tracts. In this paper, we propose three theoretical explanations for no-bid contracting, drawing on transaction cost economics, organizational learning, and institutional theory. We also present how we test these explanations using a comprehensive sample of public procurement transactions. We expect to contribute theoretical explanations for no-bid contracting and practical implications for policy-makers.

Capital Accumulation in the Presence of Informal Credit Contracts: Does the Incentive Mechanism Work Better than Credit Rationing Under Asymmetric Information?

Credit markets with asymmetric information often prefer credit rationing as a profit maximizing device. This paper asks whether the presence of informal credit markets reduces the cost of credit rationing, that is, whether it can alleviate the impact of asymmetric information based on the available information. We used a dynamic general equilibrium model with heterogenous agents to assess this. Using Indian credit market data our study shows that the presence of informal credit market can reduce the cost of credit rationing by separating high risk firms from the low risk firms in the informal market. But even after this improvement, the steady state capital accumulation is still much lower as compared to incentive based market clearing rates. Through self revelation of each firm's type, based on the incentive mechanism, banks can diversify their risk by achieving a separating equilibrium in the loan market. The incentive mechanism helps banks to increase capital accumulation in the long run by charging lower rates and lending relatively higher amount to the less risky firms. Another important finding of this study is that self-revelation leads to very significant welfare improvement, as measured by consumptiuon equivalence.

The Social versus Private Incentive to Sue

The private value of lawsuits is based on plaintiffs' expected recovery at trial compared to their filing costs, whereas the social value consists of the incentives suits create for injurers to invest in accident avoidance. Generally, there is no relationship between these two values: there may be either too many or too few suits from a social perspective. Thus, there is scope for corrective measures, although there is no simple policy. Extending the model to consider a negligence rule rather than strict liability, and to allow for pretrial settlements, leads to some modified conclusions but does not alter the basic insights.

The Economics of Incentive-Based Health Care Plans

Medical savings accounts (MSAs) belong to a larger class of incentive-based health care plans. Using a model that allows the consumer to invest in healthy activities, we examine the efficiency properties of incentive plans and compare them to traditional full- coverage and deductible plans, under both experience rating and community rating. The model also is extended to include utilization of preventive health care. Properly constructed incentive plans have the capacity to induce socially efficient levels of healthy activities and preventive care, raising the expected wealth of consumers without reducing insurers' profits.

Ronald E. Heine, Origen. Scholarship in the service of the church, Oxford University Press, Oxford, 2010, pp. 275. ISBN 978-0-19-920907-1.

Fil: Peretó Rivas, Rubén.

Distributes award protocol: A cooperation and communication method for robots.

In this Master’s Thesis a new Distributed Award Protocol (DAP) for robot communication and cooperation is presented. Task assignment (contract awarding) is done dynamically with contracts assigned to robots based upon the best bid received. Instead of having a manager and a contractor it is proposed a fully distributed bidding/awarding mechanism without a distinguished master. The best bidding robots are awarded with contract for execution. The contractors make decisions locally. This brings the following benefits: no communication bottleneck, low computational power requirement, increased robustness. DAP can handle multitasking. Tasks can be injected into system during the execution of already allocated tasks. As tasks have priorities, in the next cycle after taking into account actual bid parameters of all robots, tasks can be re-allocated. The aim is to minimize a global cost function which is a compromise between cost of task execution and cost of resources usage. Information about tasks and bid values is spread among robots with the use of a Round Robin Route, which is a novel solution proposed in this work. This method allows also identifying failed robots. Such failed robot is eliminated from the list of awarded robots and its replacement is found so the task is still executed by a team. If the failure of a robot was temporary (e.g. communication noise) and the robot can recover, it can again participate in the next bidding/awarding process. Using a bidding/awarding mechanism allows robots to dynamically relocate among tasks. This is also contributes to system robustness. DAP was evaluated through multiple experiments done in the multi-robot simulation system. Various scenarios were tested to check the idea of the main algorithm. Different failures of robots (communication failures, partial hardware malfunctions) were simulated and observations were made regarding how DAP recovers from them. Also the DAP flexibility to environment changes was watched. The experiments in the simulated environment confirmed the above features of DAP.

Business model with discount incentive in a P2P-cloud multimedia streaming system

Today P2P faces two important challenges: design of mechanisms to encourage users' collaboration in multimedia live streaming services; design of reliable algorithms with QoS provision, to encourage the multimedia providers employ the P2P topology in commercial live streaming systems. We believe that these two challenges are tightly-related and there is much to be done with respect. This paper analyzes the effect of user behavior in a multi-tree P2P overlay and describes a business model based on monetary discount as incentive in a P2P-Cloud multimedia streaming system. We believe a discount model can boost up users' cooperation and loyalty and enhance the overall system integrity and performance. Moreover the model bounds the constraints for a provider's revenue and cost if the P2P system is leveraged on a cloud infrastructure. Our case study shows that a streaming system provider can establish or adapt his business model by applying the described bounds to achieve a good discount-revenue trade-off and promote the system to the users.

A novel monetary incentive for commercial P2P streaming

Today P2P faces two important challenges: design of mechanisms to encourage users’ collaboration in multimedia live streaming services; design of reliable algorithms with QoS provision, to encourage multimedia providers employ the P2P topology in commercial streaming services. We believe that these two challenges are tightly-related and there is much to be done with respect. This paper proposes a novel monetary incentive for P2P multimedia streaming. The incentive model classifies the users in groups according to the perceived video quality. We apply the model to a streaming system’s billing model in order to evaluate its feasibility and visualize its quantitative effect on the users’ motivation and the provider’s profit. We conclude that monetary incentive can boost up users’ cooperation, loyalty and enhance the overall system integrity and performance. Moreover the model defines the constraints for the provider’s cost and profit when the system is leveraged on the cloud. Considering those constraints, a multimedia content provider can adapt the billing model of his streaming service and achieve desirable discount-profit trade-off. This will moreover contribute to better promotion of the service, across the users on the Internet.

An Evening with Lisa Nicole Bell, Award-Winning Media Entrepreneur, Writer, Producer, and On Camera Talent

Lisa Bell is the founder and CEO of Inspired Life Media Group, a Los Angeles-based international content development and production company that works with a diverse cross-section of venture-backed startups, high profile individuals, and fortune 500 brands. Lisa, past content and business ventures are critically-acclaimed, diverse, and plentiful. She created, directed, and produced The American Dream Revised, a digital docuseries that follows a diverse group of young entrepreneurs. Lisa’s past business ventures include startups in technology, personal development, and original content.After launching her first company at 19 years old, she later started a for-profit social enterprise that reached more than 400,000 girls around the world with active programs in Liberia, England, Brazil, and the US.

Georges de La Tour : the Status of Scholarship

Seventeenth-century French painter, Georges de La Tour, was a forgotten artist. His rediscovery in the nineteenth century set off a firestorm of research and a hunt to find more works by the artist. One problem after another arose as scholars attempted to define the artist by his works, his style, and the remnants of his personal history. There remains a volume of contradictory reports, authentication issues, and new scientific techniques which continue to influence study on the artist.

Horizontal Innovation and Interface Patents

Scholars understandably devote a great deal of effort to studying how well patent law works to incentive the most important inventions. After all, these inventions form the foundation of our new technological age. But very little time is spent focusing on the other end of the spectrum, inventions that are no better than what the public already has. At first blush, studying such “horizontal” innovation seems pointless. But this inquiry actually reveals much about how patents can be used in unintended, and arguably, anticompetitive ways. This issue has roots in one unintuitive aspect of patent law. Despite the law’s goal of promoting innovation, patents can be obtained on inventions that are no better than existing technology. Such patents might appear worthless, but companies regularly obtain these patents to cover interfaces. That is because interface patents actually derive value from two distinct characteristics. First, they can have “innovation value” that is based on how much better the patentedinterface is than existing technology. Second, interface patents can also have “compatibility value.” In other words, the patented technology is often essential to make products operate (i.e. compatible) with a particular interface. In practical terms, this means that an interface patent that covers little or no meaningful advance can give a company the ability to extract rents and foreclose competition. This undesirable result is a consequence of how patent law has structured its remedies. For years patent law has implicitly awarded both innovation and compatibility values. Recently, the courts have taken a sensible first step and excluded compatibility value from reasonable royalty recoveries for standard essential patents. This Article argues that the law needs to go further and do the same for all essential interface patents. Additionally, patent law should reform the way it awards injunctions and lost profits to also exclude compatibility value. This proposal has two benefits. It would eliminate the incentives for wasteful patents on horizontal technology. Second, and more importantly, the value of all interfacepatents would be better aligned with the goals of the patent system.

Modelling of the surface emission of the low magnetic field magnetar SGR 0418+5729

We perform a detailed modelling of the post-outburst surface emission of the low magnetic field magnetar SGR 0418+5729. The dipolar magnetic field of this source, B=6×1012G estimated from its spin-down rate, is in the observed range of magnetic fields for normal pulsars. The source is further characterized by a high pulse fraction and a single-peak profile. Using synthetic temperature distribution profiles, and fully accounting for the general-relativistic effects of light deflection and gravitational redshift, we generate synthetic X-ray spectra and pulse profiles that we fit to the observations. We find that asymmetric and symmetric surface temperature distributions can reproduce equally well the observed pulse profiles and spectra of SGR 0418. None the less, the modelling allows us to place constraints on the system geometry (i.e. the angles ψ and ξ that the rotation axis makes with the line of sight and the dipolar axis, respectively), as well as on the spot size and temperature contrast on the neutron star surface. After performing an analysis iterating between the pulse profile and spectra, as done in similar previous works, we further employed, for the first time in this context, a Markov-Chain Monte Carlo approach to extract constraints on the model parameters from the pulse profiles and spectra, simultaneously. We find that, to reproduce the observed spectrum and flux modulation: (a) the angles must be restricted to 65° ≲ ψ + ξ ≲ 125° or 235° ≲ ψ + ξ ≲ 295°; (b) the temperature contrast between the poles and the equator must be at least a factor of ∼6, and (c) the size of the hottest region ranges between 0.2 and 0.7 km (including uncertainties on the source distance). Lastly, we interpret our findings within the context of internal and external heating models.