Synergies and price trends in sequential auctions

In this paper we consider sequential auctions where an individual’s value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative synergy). We show that the existence of positive synergies implies declining expected prices. When synergies are negative, expected prices are increasing. There are several corollaries. First, the seller is indi¤erent between selling the objects simultaneously as a bundle or sequentially when synergies are positive. Second, when synergies are negative, the expected revenue generated by the simultaneous auction can be larger or smaller than the expected revenue generated by the sequential auction. In addition, in the presence of positive synergies, an option to buy the additional object at the price of the …rst object is never exercised in the symmetric equilibrium and the seller’s revenue is unchanged. Under negative synergies, in contrast, if there is an equilibrium where the option is never exercised, then equilibrium prices may either increase or decrease and, therefore, the net e¤ect on the seller’s revenue of the introduction of an option is ambiguous. Finally, we examine two special cases with asymmetric players. In the …rst case, players have distinct synergies. In this example, even if one player has positive synergies and the other has negative synergies, it is still possible for expected prices to decline. In the second case, one player wants two objects and the remaining players want one object each. For this example, we show that expected prices may not necessarily decrease as predicted by Branco (1997). The reason is that players with singleunit demand will generally bid less than their true valuations in the …rst period. Therefore, there are two opposing forces; the reduction in the bid of the player with multiple-demand in the last auction and less aggressive bidding in the …rst auction by the players with single-unit demand.

Rangel: ciclos longos e dualidade

For Ignácio Rangel economic development is an intrinsically contradictory movement through which technological innovation, whose dynamics explains the long cycle, is permanently in conflict with the existing capitals that it depreciates. Development in Brazil is not just defined by the opposition between the capitalist and the pre-capitalist sector; there is also an external duality that does not just express the relation between its stages of economic growth and the development of the world economy, but also tells us how its modern and its backward sector change at each stage. The duality has a double character: through the coexistence of relations of productions that correspond to two sequential historical phases, and through the existence, in the domestic and in the external “pole” of such duality, a relation of dependency toward the more advanced societies.

Sequential cost-reimbursement rules

This paper studies cost-sharing rules under dynamic adverse selection. We present a typical principal-agent model with two periods, set up in Laffont and Tirole's (1986) canonical regulation environment. At first, when the contract is signed, the firm has prior uncertainty about its efficiency parameter. In the second period, the firm learns its efficiency and chooses the level of cost-reducing effort. The optimal mechanism sequentially screens the firm's types and achieves a higher level of welfare than its static counterpart. The contract is indirectly implemented by a sequence of transfers, consisting of a fixed advance payment based on the reported cost estimate, and an ex-post compensation linear in cost performance.

Sequential auctions with continuation costs

In actual sequential auctions, 1) bidders typically incur a cost in continuing from one sale to the next, and 2) bidders decide whether or not to continue. To investigate the question "when do bidders drop out," we define a sequential auction model with continuation costs and an endogenously determined number of bidders at each sale, and we characterize the equilibria in this modele Simple examples illustrate the effect of several possible changes to this modele

New developmental stages for common marmosets (Callithrix jacchus) using mass and age variables obtained by K-means algorithm and self-organizing maps (SOM)

LEÃO, Adriano de Castro; DÓRIA NETO, Adrião Duarte; SOUSA, Maria Bernardete Cordeiro de. New developmental stages for common marmosets (Callithrix jacchus) using mass and age variables obtained by K-means algorithm and self-organizing maps (SOM). Computers in Biology and Medicine, v. 39, p. 853-859, 2009

Neustonic distribution of decapod planktonic stages and competence of brachyuran megalopae in coastal waters

Settlement rate may not reflect larval supply to coastal waters in different marine invertebrates and demersal fishes. The importance of near-shore oceanography and behaviour of late larval stages may be underestimated. The present study conducted neustonic sampling over station grids and along full-length transects at two embayments in south-eastern Brazil to (1) compare diurnal and nocturnal occurrence of most frequent decapod stages to assess their vertical movements, (2) describe the formation of larval patches and (3) measure competence of crab megalopae according to their distance to recruitment grounds. Several shrimp species apparently undergo a diel vertical migration, swimming crab megalopae showed no vertical movements and megalopae of the intertidal crab Pachygrapsus transversus revealed a reversed vertical migration. During the day, crab megalopae aggregated in convergence zones just below surface slicks. These larvae consisted of advanced, pre-moult stages, at both mid-bay and near-shore patches. Competence, measured as the time to metamorphosis in captivity, was similar between larval patches within each taxon. Yet, subtidal portunids moulted faster to juveniles than intertidal grapsids, possibly because they were closer to settlement grounds. Megalopae of Pachygrapsus from benthic collectors moulted faster than those from bay areas. These results suggest that alternative vertical migration patterns of late megalopae favour onshore transport, and actual competence takes place very close to suitable substrates, where larvae may remain for days before settlement. Lack of correlation between larval supply and settlement for Pachygrapsus suggests that biological processes, besides onshore transport, may play an important role in determining settlement success of coastal crabs.

Kinetic Analysis of Gill (Na+,K+)-ATPase Activity in Selected Ontogenetic Stages of the Amazon River Shrimp, (Decapoda, Palaemonidae): Interactions at ATP- and Cation-Binding Sites

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

Ingestion rates of Artemia nauplii for different larval stages of Macrobrachium rosenbergii

The functional response between ingestion rate and food concentration was determined for each larval stage of Macrobrachium rosenbergii. Artemia franciscana nauplii were supplied at 2,4, 6, 8, 10 and 12 per milliliter. The nauplii were counted by sight using a Pasteur pipette and transferred to Petri dishes containing 40 ml of brackish water (12 parts per thousand) lying on the top of black plastic. One larva at each stage was individually placed into each Petri dish containing different food density. After 24 h, each larva was removed from the Petri dish and the leftover nauplii were counted. The amount consumed was determined by the difference between the initial and final number of nauplii. Ingestion rate (I) increased as food density (P) increased and was defined by the model I=I-m(1-e(-kP)). The results suggest four levels of ingestion during larval development. The first level includes stages II, III and IV, with average maximum consumption of about 40 nauplii/day; the second level includes stages V and VI, with consumption of approximately 55 nauplii/day; the third level includes stages VII and VIII, with consumption of 80-100 nauplii/day. The fourth level includes stages IX, X and XI, in which the high values for maximum ingestion (Im) exceed the load capacity of the medium. The low values for constant k (that may correspond to the adaptability of the food to prey characteristics, such as, size, mobility, etc.) obtained for stages IX, X and XI indicated that Artemia is not an adequate prey and there is necessity of a supplementary diet. The best relationship between predator and prey seemed to occur during stage IV Results obtained in the present work may subsidize future researches and serve as a guideline for practical considerations of feeding rates. (C) 2003 Elsevier B.V. B.V. All rights reserved.

The preimaginal stages of the ensign wasp Evania appendigaster (Hymenoptera, Evaniidae), a cockroach egg predator

Evania appendigaster is a cosmopolitan wasp that deposits eggs in the oothecae of some species of cockroaches; its larvae then consume the cockroach eggs and embryos. It is a candidate for the biological control of cockroaches, but little is known about its basic biology. Here we describe the external morphology of all immature stages of E. appendigaster and compare them with the larvae of related species. The life cycle of E. appendigaster includes three larval instars, each with 13 body segments. Their mouthparts were generally reduced, except for the mandibles, which were always sclerotized and toothed, and were especially robust in second-instar larvae. Antennal and mouthpart sensilla were basiconic and difficult to observe. Larvae of E. appendigaster are similar in form to other described evaniid larvae, but quite different from the two available descriptions of larvae of gasteruptiid and aulacid wasps. Further descriptions of evaniid larvae will be useful in determining how widespread this morphology is within the family, and in understanding phylogenetic relationships within Hymenoptera.

Ontogenetic Variation in Ammonia Excretion during the Early Life Stages of the Amazon River Prawn, Macrobrachium amazonicum

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Amostragem seqüencial com base na lei de Taylor para levantamento de Spodoptera frugiperda na cultura do milho

A lagarta do cartucho do milho é uma das principais pragas do milho nas Américas, podendo ocorrer durante todos os estágios de crescimento da cultura, causando perdas de 15 a 37% na produção. Neste trabalho estudou-se a distribuição espacial dessa praga no campo, com a finalidade de desenvolver um sistema de amostragem para estimar sua densidade populacional. Na área cultivada com milho foram selecionados 3 campos experimentais de 40 m x 250 m cada, divididos em 100 parcelas cada. Foram contados o número de lagartas pequenas e grandes de S. frugiperda nas folhas e no cartucho das plantas, em 10 plantas ao acaso por parcela, num total de 1000 plantas por campo, em 5, 5 e 4 datas de amostragem, respectivamente. Lagartas menores que 1 cm eram consideradas pequenas e lagartas maiores que 1 cm, grandes. Foram estimados os parâmetros da lei de Taylor, sendo as estimativas dos parâmetros das regressões altamente significativas para todas as categorias larvais. O parâmetro b da lei de Taylor para lagarta pequena foi igual a 1,57, indicando que a forma de distribuição dessa categoria larval é agregada. Para lagartas grandes o parâmetro b foi igual a 0,79, o que conduz a um tipo de distribuição tendendo para aleatoriedade. Para o número total de lagartas os resultados são equivalentes aos obtidos para lagartas pequenas. Foi desenvolvido um plano de amostragem seqüencial com base nos parâmetros da lei de Taylor.

Anaerobic biodigestion of pigs feces in the initial, growing and finishing stages fed with diets formulated with corn or sorghum

Objetivou-se avaliar a produção e a qualidade do biogás e do biofertilizante obtidos em biodigestores abastecidos com dejetos de suínos, nas fases inicial, crescimento e terminação, alimentados com dietas formuladas à base de milho ou sorgo. Foram utilizados 20 biodigestores de bancada, com tempo de retenção hidráulica de 30 dias, e cargas diárias que continham 4,0 a 6,0% de sólidos totais (ST) e 3,6 a 5,2% de sólidos voláteis (SV). Nos efluentes dos biodigestores, foram verificados teores médios de ST variando de 1,6 a 2,0% e de SV entre 1,2 e 1,6%. As reduções médias de ST foram de 57,7 a 64,7% e de SV de 61,7 a 69,0%, sendo que houve diferença somente na fase de terminação, na qual as maiores reduções médias foram para biodigestores abastecidos com dejetos de animais alimentados com dietas à base de milho. Nos biodigestores abastecidos com dejetos de animais em fase inicial e de crescimento, alimentados com dietas formuladas à base de milho, foram verificadas maiores produções médias de biogás e os maiores potenciais médios de produção de biogás. Os potenciais médios obtidos foram 0,033; 0,181; 0,685; 0,788 e 1,132 m³ por kg de afluente, estrume, ST adicionados, SV adicionados e SV reduzidos, respectivamente. Não foram verificadas diferenças quanto ao teor médio de metano no biogás entre dietas e fases. As concentrações médias dos nutrientes N, P, K, Ca, Mg, Na, Fe, Mn, Zn e Cu no afluente e efluente dos biodigestores variaram entre as dietas e fases.

Distribuição espacial de Alabama argillacea (Hübner) (Lepidoptera: Noctuidae) em algodoeiro

O conhecimento do modelo de distribuição espacial de pragas na cultura é fundamental para estabelecer um plano adequado de amostragem seqüencial e, assim, permitir a correta utilização das estratégias de controle e a otimização das técnicas de amostragem. Esta pesquisa objetivou estudar a distribuição espacial de lagartas de Alabama argillacea (Hübner) na cultura do algodoeiro, cultivar CNPA ITA-90. A coleta de dados ocorreu durante o ano agrícola de 1998/99 na Fazenda Itamarati Sul S.A., localizada no município de Ponta Porã, MS, em três diferentes áreas de 10.000 m² cada uma. Cada área amostral foi composta de 100 parcelas com 100 m² cada. Foi realizada semanalmente a contagem das lagartas pequenas, médias e grandes, encontradas em cinco plantas por parcela. Os índices de agregação (razão variância/média e índice de Morisita), o teste de qui-quadrado com o ajuste dos valores encontrados e esperados às distribuições teóricas de freqüência (Poisson, binomial positiva e binomial negativa), mostraram que todos os estádios das lagartas estão distribuídos de acordo com o modelo de distribuição contagiosa, ajustando-se ao padrão da Distribuição Binomial Negativa durante todo o período de infestação.

Amostragem seqüencial de Alabama argillacea (Hübner) (Lepidoptera: Noctuidae) em algodoeiro

Para implantar o manejo apropriado do curuquerê-do-algodoeiro, é necessário construir um plano de amostragem que permita estimar, de forma rápida e precisa, a densidade populacional da praga. Esta pesquisa objetivou determinar o plano de amostragem seqüencial de Alabama argillacea (Hübner) em algodoeiro, cultivar CNPA ITA-90. Os dados foram coletados no ano agrícola de 1998/99 na Fazenda Itamarati Sul S/A, localizada no município de Ponta Porã, MS, em três áreas de 10.000 m² cada. As áreas amostrais foram compostas de 100 parcelas de 100 m². O número de lagartas pequenas, médias e grandes foi determinado semanalmente em cinco plantas tomadas ao acaso por parcela. Após verificado que todos os instares das lagartas estavam distribuídos de acordo com o modelo de distribuição agregada, ajustando-se à Distribuição Binomial Negativa durante todo o período de infestação, construiu-se um plano de amostragem seqüencial de acordo com o Teste Seqüencial da Razão de Probabilidade (TSRP). Adotou-se o nível de controle de duas lagartas por planta para a construção do plano de amostragem. A análise dos dados indicou duas linhas de decisão: a superior, que representa a condição de que a adoção de um método de controle é recomendado, definida por S1= 4,8784+1,4227n; e a inferior representando que a adoção de algum método de controle não é necessário, definida por S0= -4,8784+1,4227n. A amostragem seqüencial estimou o número máximo esperado de 16 unidades amostrais para se definir a necessidade ou não do controle.