Auctions with options for re-auction

We examine the role of seller bidding and reserve prices in an infinitely repeated independent-private-value (IPV) ascending-price auction. The seller has a single object that she values at zero. At the end of any auction round, she may either sell to the highest bidder or pass-in the object and hold a new auction next period. New bidders are drawn randomly in each round. The ability to re-auction motivates a notion of reserve price as the option value of retaining the object for re-auctioning. Even in the absence of a mechanism with which to commit to a reserve price, the optimal “secret” reserve is shown to exceed zero. However, despite the infinite repetition, there may be significant value to the seller from a binding reserve price commitment: the optimal binding reserve is higher than the optimal “secret” reserve, and may be substantially so, even with very patient players. Furthermore, reserve price commitments may even be socially preferable at high discount factors. We also show that the optimal “phantom” bidding strategy for the seller is revenue-equivalent to a commitment to an optimal public reserve price.

Auction econometrics by least squares

This paper proposes a method to structurally estimate an auction model using a variation of OLS, under commonly held assumptions in both auction theory and econometrics. In spite of its computational simplicity, the method applies to a wide variety of environments, including interdependent values in general, and certain forms of endogenous participation and bidder asymmetry. Furthermore, it can be used for hypotheses testing about the shape of the valuation distribution, valuation interdependence, or existence of bidder asymmetry.

Mid-auction information acquisition

This paper studies a model of a sequential auction where bidders are allowed to acquire further information about their valuations of the object in the middle of the auction. It is shown that, in any equilibrium where the distribution of the final price is atornless, a bidder's best response has a simple characterization. In particular, the optimal information acquisition point is the same, regardless of the other bidders' actions. This makes it natural to focus on symmetric, undominated equilibria, as in the Vickrey auction. An existence theorem for such a class of equilibria is presented. The paper also presents some results and numerical simulations that compare this sequential auction with the one-shot auction. 8equential auctions typically yield more expected revenue for the seller than their one-shot counterparts. 80 the possibility of mid-auction information acquisition can provide an explanation for why sequential procedures are more often adopted.

A simple analysis of the U.S. emission permits auctions

We examine a stylized version of EPA auctions when agents know the list of values of sellers and buyers. Sellers and buyers behave strategically. We show that there are two types of equilibria: inefficient equilibria where no goods are traded and efficient equilibria where alI exchange occurs at a uniform price. We also provide examples of the EPA auction game under incomplete information when the uniform price equilibrium holds and when it does not hold. When the uniform price equilibrium holds, sellers shade their bids up and buyers shade their bids down. In the example where the uniform price equilibrium does not hold, both buyers and sellers shade their bids down in an equilibrium.

Comparative biology and production costs of Podisus nigrispinus (Hemiptera: Pentatomidae) when fed different types of prey

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Thermal comfort indices in individual shelters for dairy calves with different types of roofs

Dentre os materiais de construção utilizados nas instalações rurais, merecem destaque as coberturas, pois são grandes responsáveis pelo conforto térmico, influenciando no balanço térmico no interior das instalações. Este trabalho objetivou avaliar a influência das coberturas sobre a entalpia (H), Carga Térmica Radiante (CTR) e no Índice de Temperatura de Globo Negro e Umidade (ITGU), em abrigos individuais para bezerros leiteiros. O delineamento foi o inteiramente casualizado com três tratamentos: Z - telha de zinco; CA - telha de cimento amianto, e CAB - telha de cimento amianto pintada de branco na face superior. As médias foram comparadas pelo teste de Scott Knott, a 1% de probabilidade. Os resultados mostraram que não houve diferença estatística entre os tratamentos (P<0,01) e o ambiente externo, para a H. Para a CTR, houve diferença estatística entre todos os tratamentos, em que CAB demonstrou menor CTR, 489,28 W m-², seguido do tratamento CA, 506,72 W m-², e Z com maior valor de CTR, 523,55 W m-². Para o ITGU, observaram-se menores valores para CAB (76,8) e CA (77,4), diferindo-se, significativamente do Z, que obteve maior valor (81,6). As telhas com pintura branca em sua face superior promoveram menor CTR e menor ITGU, favorecendo o ambiente térmico da instalação.

Hemocyte types and total and differential counts in unparasitized and parasitized Anastrepha obliqua (Diptera, Tephritidae) larvae

Os tipos de hemócitos e as contagens total e diferencial foram estudados em larvas parasitadas e não parasitadas de Anastrepha obliqua pertencentes ao início e ao final da terceira fase. em ambas as fases do desenvolvimento, tanto em larvas parasitadas quanto nas não parasitadas, foram observados pró-hemócitos, plasmatócitos, granulócitos, adipo-hemócitos, esferulócitos e oenocitóides. A presença de divisões mitóticas indica os pró-hemócitos como células-tronco. Pró-hemócitos, plasmatócitos e granulócitos são as células mais numerosas na hemolinfa de A. obliqua. Foi observada diferença no número total de hemócitos entre larvas parasitadas e não parasitadas apenas no final da terceira fase.

Comparison of four trap types for ambrosia beetles (Coleoptera, Scolytidae) in Brazilian Eucalyptus stands

Eucalyptus spp. plantations represent >60% of the reforested area in Brazil. Although ambrosia beetle attacks on live trees were at first nonexistent, they have begun to appear with greater frequency. Monitoring for pest insects is a key factor in integrated pest management, and baited traps are one of the most widely used methods for insect population detection and survey. We compared the efficiency of the most widely used trap in Brazil to survey for ambrosia beetles and other Scolytidae, the ESALQ-84 type, with other traditionally employed traps: the multiple funnel (Lindgren trap); drainpipe; and slot (Theyson) traps, in a Eucalyptus grandis Hill ex Maiden stand in Brazil. The ESALQ-84 trap was the most efficient in trapping Hypothenemus eruditus Westwood and Hypothenemus obscurus (F.); the multiple funnel trap caught significantly more Cryptocarenus diadematus Eggers; whereas the slot trap caught more Premnobius cavipennis Eichhoff and Xyleborus affinis Eichhoff than the other traps. The drainpipe trap was the least effective trap overall. When corrected for number of beetles caught per trap surface area, catches were significantly higher on the ESALQ-84 trap for the majority of the species analyzed, probably because of a smaller trap surface area. The slot trap was recommended for it caught overall more beetles of the three most economically important scolytid species in eucalypt plantations in Brazil, P. cavipennis, X. affinis, and X, ferrugineus.

EFFECT of TYPES of NOZZLES on SPRAY DEPOSITION on TWO SOYBEAN VARIETIES IN STAGE V3

The effect of application with different nozzle types and volume rates on spray deposition in the V3 stage of two soybean cultivars was evaluated. The experiments were conducted in the Facultad de Ciencias Agronomicas of the UNESP-Botucatu/SP. The nozzles evaluated were an air induced flat fan nozzle (Al 11015 at 150 L ha(-1), Al 11002 at 200 and 250 L ha(-1)), a twin flat fan nozzle (TJ 60 11002 at 150, 200 and 250 L ha(-1)), and a cone nozzle (TX 6 at 150 L ha(-1), TX 8 at 150 L ha(-1) and TX 10 at 250 L ha(-1)). To evaluate spray deposition on the plants, a tracer (Brilliant Blue FD&C-1) was added. The experimental design was random blocks with four replications. Deposition on plants was determined by absorbancy reading in 630 nm wavelength. The data were adjusted to a calibration curve and transformed into deposited spray volume in mL. The relationship deposition per unit of dry matter was adjusted to a regression curve (Gompertz model). In cultivar CD 208, the highest deposit was for the larger volumes and for the treatment TX 8 200 L ha(-1). The most uniform treatments were all the nozzles with the volume 150 L ha(-1) and the TJ60 nozzle for 200 1, ha(-1). In cultivar CD 216, the greatest spray depositions were achieved with the treatments Al at 200 and 250 L ha(-1) and TJ 60 at 250 L ha(-1), and the most uniform treatments were the TX 6 and TJ60 nozzles for the volume150 L ha(-1).

An evergreen neotropical savanna tree (Gochnatia polymorpha, Asteraceae) produces different dry- and wet-season leaf types

Gochnatia polymorpha (Less.) Cabrera is a widespread tree species found in different physiognomies of neotropical savanna (cerrado) formations of south-eastern Brazil. The present study describes some leaf anatomical characteristics of this species as a function of the time of leaf flush, during dry or wet seasons. This species presents anatomical plasticity in the cuticle, palisade parenchyma and abaxial epidermis as well as in stomatal size and stomatal and trichome density, which are leaf structures linked with water-status control. Leaf structure changed to suit the particular environmental conditions during dry and wet seasons. The production of different wet-and dry-season leaf types in G. polymorpha could be a response to drought and an adaptation to environmental constraints in the cerrado.

Analysis of the different forms of application and types of cutting fluid used in plunge cylindrical grinding using conventional and superabrasive CBN grinding wheels

The work reported here involved an investigation into the grinding process, one of the last finishing processes carried out on a production line. Although several input parameters are involved in this process, attention today focuses strongly on the form and amount of cutting fluid employed, since these substances may be seriously pernicious to human health and to the environment, and involve high purchasing and maintenance costs when utilized and stored incorrectly. The type and amount of cutting fluid used directly affect some of the main output variables of the grinding process which are analyzed here, such as tangential cutting force, specific grinding energy, acoustic emission, diametrical wear, roughness, residual stress and scanning electron microscopy. To analyze the influence of these variables, an optimised fluid application methodology was developed (involving rounded 5, 4 and 3 turn diameter nozzles and high fluid application pressures) to reduce the amount of fluid used in the grinding process and improve its performance in comparison with the conventional fluid application method (of diffuser nozzles and lower fluid application pressure). To this end, two types of cutting fluid (a 5% synthetic emulsion and neat oil) and two abrasive tools (an aluminium oxide and a superabrasive CBN grinding wheel) were used. The results revealed that, in every situation, the optimised application of cutting fluid significantly improved the efficiency of the process, particularly the combined use of neat oil and CBN grinding wheel. (c) 2005 Elsevier Ltd. All rights reserved.

Comments on Magnetically levitated micro PM motors by two types of active magnetic bearings

This note clarifies the design of proportional derivative (PD) controllers for the magnetic levitation systems of micro PM motors proposed in the above paper. It is shown that the PD controllers cannot stabilize the described levited micro motors because it is necessary to use other values of parameters for these controllers. We present necessary and sufficient conditions for the stability of the controlled systems described in the paper.

Mechanical comparative analysis of three different types of sutures in different dimensions tendons: experimental study

O objetivo da presente investigação experimental foi avaliar o perfil mecânico de três tipos de técnicas de sutura entre tendões de dimensões diferentes. Foram utilizados 21 cães sem raça definida (11machos/10 fêmeas), dos quais foram obtidos os tendões flexor comum dos dedos - t.c. (maior dimensão) e tibial cranial - t.cr. (menor dimensão), de ambos os membros pélvicos. Logo após a obtenção das peças foi realizada sutura, segundo cada tipo de técnica, porém sempre com o mesmo número de pontos. Os tendões utilizados para sutura foram sempre do lado direito e o controle do lado esquerdo (t.cr.). Após a sutura, os corpos de prova foram fixados em garras especialmente desenvolvidas e submetidos a ensaio de tração axial à velocidade de 30mm/minuto. Após o ensaio o programa da máquina forneceu os valores da carga máxima ( na ruptura) e deformação absoluta (mm) e relativa (%), além do diagrama carga-deformação. Os resultados foram submetidos a estudo estatístico pela análise de medidas repetidas no nível de 5% de significância. Não foi constatada diferença estatisticamente significativa nos parâmetros mecânicos avaliados nos três grupos de técnicas de suturas. em relação ao controle (tendão de menos diâmetro contra-lateral), observou-se que a sutura apresenta resistência máxima a tração significativamente menor que o controle e maior deformação.