Tianjin sales of land by auctions:Italian Colonialism in the early twentieth century China

s a signatory to the Boxer Protocol in 1901, Italy came into possession of the Tianjin concession, its only colonial possession in China. The Italian settlement was situated on the Hai River, and most of the land consisted of cemeteries and salt deposits. Italian administration of the settlement encountered many difficulties. Expropriation of land from the Chinese occupants was not easy, and it proved equally difficult to attract Italian investors. However despite the fact that Italian public opinion supported the abandonment of the concession, the Italian government was ultimately obliged to undertake a project for its urban development. Success in Tianjin became a national challenge for Italy, with the National Trust providing the necessary economic support. The history of the Italian settlement in Tianjin therefore sheds light on the politics of colonialism and on Italy's economic and political agendas at the turn of the twentieth century.

Uncertainty and Speculators in an Auction for Emissions Permits

Auctions have become popular as means of allocating emissions permits in the emissions trading schemes developed around the world. Mostly, only a subset of the regulated polluters participate in these auctions along with speculators, creating a market with relatively few participants and, thus, incentive for strategic bidding. I characterize the bidding behavior of the polluters and the speculators, examining the effect of the latter on the profits of the former and on the auction outcome. It turns out that in addition to bidding for compliance, polluters also bid for speculation in the aftermarket. While the presence of the speculators forces the polluters to bid closer to their true valuations, it also creates a trade-off between increasing the revenue accrued to the regulator and reducing the profits of the auction-participating polluters. Nevertheless, the profits of the latter increase in the speculators' risk aversion.

List of Bid Proposal Holders; Letting date: June 21, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: July 19, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: August 16, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: September 20, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: October 18, 2016

List of information of Bid Proposal Holders

EXISTENCE OF UNUSED MANAGED CAPACITY ON DEDICATED LANES AND AN ALTERNATIVE ON HOW TO SELL IT VIA AUCTIONS

This dissertation verifies whether the following two hypotheses are true: (1) High-occupancy/toll lanes (and therefore other dedicated lanes) have capacity that could still be used; (2) such unused capacity (or more precisely, “unused managed capacity”) can be sold successfully through a real-time auction. To show that the second statement is true, this dissertation proposes an auction-based metering (ABM) system, that is, a mechanism that regulates traffic that enters the dedicated lanes. Participation in the auction is voluntary and can be skipped by paying the toll or by not registering to the new system. This dissertation comprises the following four components: a measurement of unused managed capacity on an existing HOT facility, a game-theoretic model of an ABM system, an operational description of the ABM system, and a simulation-based evaluation of the system. Some other and more specific contributions of this dissertation include the following: (1) It provides a definition and a methodology for measuring unused managed capacity and another important variable referred as “potential volume increase”. (2) It proves that the game-theoretic model has a unique Bayesian Nash equilibrium. (3) And it provides a specific road design that can be applied or extended to other facilities. The results provide evidence that the hypotheses are true and suggest that the ABM system would benefit a public operator interested in reducing traffic congestion significantly, would benefit drivers when making low-reliability trips (such as work-to-home trips), and would potentially benefit a private operator interested in raising revenue.

Las personas con desorden de la identidad de la integridad corporal, BID: un estudio sobre la autonomía personal en el marco de la jurisprudencia constitucional

31 p.

Lineamientos básicos para la elaboración de procedimientos de auditoría a proyectos administrados por unidades ejecutoras gubernamentales financiados por BID/BIRF.

La afluente ayuda recibida de los Organismos Internacionales ha permitido que el Estado implemente o cree unidades especializadas para que administren los recursos provenientes de dichas instituciones por lo tanto, los entes financieros requieren entre otras cosas, de la contratación de firmas privadas para la realización de auditorías a proyectos. De ahí surge la inquietud de conocer las bases que se utilizan en la práctica para la elaboración de procedimientos de auditoría y cuáles son las principales dificultades que enfrentan los profesionales en esta etapa. Se realizó una investigación de campo con el objetivo de determinar la experiencia que poseen las firmas de auditoría en el área de proyectos y basándose en ello proponer un documento que contenga la información que unifique en cierta medida los criterios para la preparación de procedimientos de auditoría. Para la recolección de información se utilizó la investigación bibliográfica, encuestas y entrevistas dirigidas a firmas auditoras. Los resultados obtenidos de la información mostraron que la mayoría de firmas no cuenta con bibliografía completa que les permita conocer a cerca de las exigencias de los Organismos Financieros y sobre la ejecución de los proyectos, por lo que la base principal para brindar los servicios al cliente es la experiencia de su personal,y la rotación de este ocasiona serias deficiencias en prestación de los servicios de auditoría al cliente, puesto que la mayoría de veces el profesional no cuenta con los conocimientos mínimos sobre el área de auditoría a proyectos, observándose la necesidad de la elaboración de una guía que contenga la información referida; principalmente en lo relacionado con la elaboración de procedimientos, ya que a través de ellos se obtiene la suficiente evidencia para formarse una opinión y emitir el respectivo informe.

Dutch Auctions: The case of fish auction in Bermeo

In this work I will analyze fish auctions focusing on a particular case: fish auctions in Bermeo. The purpose is to explain if at present the Dutch auction is the appropriate mechanism in the field of fish auctions or there are better alternatives for the sale of fish. For the fulfillment of this essay, I will first introduce some general notions on auctions and more particularly on Dutch auctions describing their properties and limitations.

List of Bid Proposal Holders; Letting date: November 15, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: December 20, 2016

List of information of Bid Proposal Holders

List of Bid Proposal Holders; Letting date: January 18, 2017

List of information of Bid Proposal Holders

Synthetic portfolio for event studies: Estimating the effects of volatility call auctions

We propose a method denoted as synthetic portfolio for event studies in market microstructure that is particularly interesting to use with high frequency data and thinly traded markets. The method is based on Synthetic Control Method and provides a robust data driven method to build a counterfactual for evaluating the effects of the volatility call auctions. We find that SMC could be used if the loss function is defined as the difference between the returns of the asset and the returns of a synthetic portfolio. We apply SCM to test the performance of the volatility call auction as a circuit breaker in the context of an event study. We find that for Colombian Stock Market securities, the asynchronicity of intraday data reduces the analysis to a selected group of stocks, however it is possible to build a tracking portfolio. The realized volatility increases after the auction, indicating that the mechanism is not enhancing the price discovery process.