Essays on robust mechanism design

Chapter 1: Under the average common value function, we select almost uniquely the mechanism that gives the seller the largest portion of the true value in the worst situation among all the direct mechanisms that are feasible, ex-post implementable and individually rational. Chapter 2: Strategy-proof, budget balanced, anonymous, envy-free linear mechanisms assign p identical objects to n agents. The efficiency loss is the largest ratio of surplus loss to efficient surplus, over all profiles of non-negative valuations. The smallest efficiency loss is uniquely achieved by the following simple allocation rule: assigns one object to each of the p−1 agents with the highest valuation, a large probability to the agent with the pth highest valuation, and the remaining probability to the agent with the (p+1)th highest valuation. When “envy freeness” is replaced by the weaker condition “voluntary participation”, the optimal mechanism differs only when p is much less than n. Chapter 3: One group is to be selected among a set of agents. Agents have preferences over the size of the group if they are selected; and preferences over size as well as the “stand-outside” option are single-peaked. We take a mechanism design approach and search for group selection mechanisms that are efficient, strategy-proof and individually rational. Two classes of such mechanisms are presented. The proposing mechanism allows agents to either maintain or shrink the group size following a fixed priority, and is characterized by group strategy-proofness. The voting mechanism enlarges the group size in each voting round, and achieves at least half of the maximum group size compatible with individual rationality.

Les interconnexions électriques entre la France et ses voisins européens depuis 1970 : un vecteur méconnu de l'intégration européenne

Les ouvrages de transport d’électricité ont d’abord été pensés un par un, reliant un excédent de production à un besoin de consommation. Ils ont ainsi parfois très naturellement et dès l’origine traversé les frontières des États pour répondre à leur raison d’être. Les secteurs électriques se structurant fortement lorsque le virage électrique fut pris, les interconnexions entre pays furent conçues par les techniciens comme une mesure élémentaire de sûreté et d’équilibre de ce produit atypique qu’est l’électricité. En France plus particulièrement, lorsque la production électronucléaire se développa à partir des années 1970, ces interconnexions devinrent petit à petit sources de revenus pour l’entreprise nationale, et d’équilibre pour la balance commerciale nationale. L’intérêt grandissant porté au secteur électrique par les institutions européennes à la fin des années 1990 vient ébranler les acteurs économiques géographiques verticaux, et rebat les cartes des enjeux à adresser à une maille plus large que l’État nation. Dans ces transformations successives, les interconnexions aux frontières, et particulièrement aux frontières françaises, jouent ainsi un rôle tout à fait spécifique et de plus en plus structurant pour les économies ouvertes des pays européens. Les réseaux de transport électriques continuent ainsi une mutation entamée dans les années 1970 qui les a conduits de la condition de mal nécessaire à celle de vecteurs indispensables de transformation des économies européennes. L’objet de ce mémoire est d’illustrer la très grande capacité d’adaptation de ces organes industriels, économiques, sociétaux et politiques, dont on pourrait faussement penser qu’ils sont immobilisés par leur nature capitalistique, à travers les enjeux portés par les interconnexions aux frontières françaises. Les sources sont à la fois issues de données des opérateurs techniques, de la documentation – encore peu fréquente – sur ces sujets, ainsi que des statistiques officielles du ministère français. Cette capacité d’innovation et de développement de « couches de services » permet aujourd’hui aux grands réseaux de transport de traverser les époques et la variabilité des orientations de leurs environnements, durablement.

The young, educated, minorities and the poor move out from south central Ethiopia

High population growth fragmented rural landholdings leading to low harvests and crop yields per acre per annum creating surplus labour that may resort to migration as a coping mechanism in least developing countries including Ethiopia. The main aim of the study is to assess trends and differentials of out-migration in south central Ethiopia. The Butajira demographic surveillance system database from 1987 to 2008 was used to conduct event history analysis. There were 3.97 out-migrations per 100 person years. Probability of out-migration was higher among males, teenagers, the youth, completed primary and secondary plus education; not in marital union; Christians, urbanites; lived in rented and owed house compared to their respective counterparts. The higher chances of out-migration among these groups may have social and economic significance.

Crocin and β-Carotene bleaching assays as analytical tools in the optimization of the extraction of hydrophilic and lipophilic antioxidants from tomato

Tomato (Lycopersicon esculentum Mill.) is the second most important vegetable crop worldwide and a rich source of hydrophilic (H) and lipophilic (L) antioxidants. The H fraction is constituted mainly by ascorbic acid and soluble phenolic compounds, while the L fraction contains carotenoids (mostly lycopene), tocopherols, sterols and lipophilic phenolics [1,2]. To obtain these antioxidants it is necessary to follow appropriate extraction methods and processing conditions. In this regard, this study aimed at determining the optimal extraction conditions for H and L antioxidants from a tomato surplus. A 5-level full factorial design with 4 factors (extraction time (I, 0-20 min), temperature (T, 60-180 •c), ethanol percentage (Et, 0-100%) and solid/liquid ratio (S/L, 5-45 g!L)) was implemented and the response surface methodology used for analysis. Extractions were carried out in a Biotage Initiator Microwave apparatus. The concentration-time response methods of crocin and P-carotene bleaching were applied (using 96-well microplates), since they are suitable in vitro assays to evaluate the antioxidant activity of H and L matrices, respectively [3]. Measurements were carried out at intervals of 3, 5 and 10 min (initiation, propagation and asymptotic phases), during a time frame of 200 min. The parameters Pm (maximum protected substrate) and V m (amount of protected substrate per g of extract) and the so called IC50 were used to quantify the response. The optimum extraction conditions were as follows: r~2.25 min, 7'=149.2 •c, Et=99.1 %and SIL=l5.0 giL for H antioxidants; and t=l5.4 min, 7'=60.0 •c, Et=33.0% and S/L~l5.0 g/L for L antioxidants. The proposed model was validated based on the high values of the adjusted coefficient of determination (R2.wi>0.91) and on the non-siguificant differences between predicted and experimental values. It was also found that the antioxidant capacity of the H fraction was much higher than the L one.

Optimization of microwave-assisted extration of phenolic compounds from tomao by full factorial design coupled with response surface methodology

Tomato (Lycopersicon esculentum Mill.), apart from being a functional food rich in carotenoids, vitamins and minerals, is also an important source of phenolic compounds [1 ,2]. As antioxidants, these functional molecules play an important role in the prevention of human pathologies and have many applications in nutraceutical, pharmaceutical and cosmeceutical industries. Therefore, the recovery of added-value phenolic compounds from natural sources, such as tomato surplus or industrial by-products, is highly desirable. Herein, the microwave-assisted extraction of the main phenolic acids and flavonoids from tomato was optimized. A S-Ieve! full factorial Box-Behnken design was implemented and response surface methodology used for analysis. The extraction time (0-20 min), temperature (60-180 "C), ethanol percentage (0-100%), solidlliquid ratio (5-45 g/L) and microwave power (0-400 W) were studied as independent variables. The phenolic profile of the studied tomato variety was initially characterized by HPLC-DAD-ESIIMS [2]. Then, the effect of the different extraction conditions, as defined by the used experimental design, on the target compounds was monitored by HPLC-DAD, using their UV spectra and retention time for identification and a series of calibrations based on external standards for quantification. The proposed model was successfully implemented and statistically validated. The microwave power had no effect on the extraction process. Comparing with the optimal extraction conditions for flavonoids, which demanded a short processing time (2 min), a low temperature (60 "C) and solidlliquid ratio (5 g/L), and pure ethanol, phenolic acids required a longer processing time ( 4.38 min), a higher temperature (145.6 •c) and solidlliquid ratio (45 g/L), and water as extraction solvent. Additionally, the studied tomato variety was highlighted as a source of added-value phenolic acids and flavonoids.

Transfer function-noise modeling and spatial interpolation to evaluate the risk of extreme (shallow) water-table levels in the Brazilian Cerrados

Water regimes in the Brazilian Cerrados are sensitive to climatological disturbances and human intervention. The risk that critical water-table levels are exceeded over long periods of time can be estimated by applying stochastic methods in modeling the dynamic relationship between water levels and driving forces such as precipitation and evapotranspiration. In this study, a transfer function-noise model, the so called PIRFICT-model, is applied to estimate the dynamic relationship between water-table depth and precipitation surplus/deficit in a watershed with a groundwater monitoring scheme in the Brazilian Cerrados. Critical limits were defined for a period in the Cerrados agricultural calendar, the end of the rainy season, when extremely shallow levels (< 0.5-m depth) can pose a risk to plant health and machinery before harvesting. By simulating time-series models, the risk of exceeding critical thresholds during a continuous period of time (e.g. 10 days) is described by probability levels. These simulated probabilities were interpolated spatially using universal kriging, incorporating information related to the drainage basin from a digital elevation model. The resulting map reduced model uncertainty. Three areas were defined as presenting potential risk at the end of the rainy season. These areas deserve attention with respect to water-management and land-use planning.

Impacto de los forrajes conservados sobre los sistemas de cria vacuna

En los sistemas ganaderos pastoriles, el manejo de excedentes y déficits estacionales e interanuales de forraje mediante el uso de reservas forrajeras impacta sobre la eficiencia de utilización las pasturas (manejo, productividad, y cosecha), y consecuentemente sobre el desempeño animal y productividad del sistema. En este trabajo se reporta información sobre la productividad y calidad de distintos recursos forrajeros que se utilizan para la confección de forrajes conservados. Se presenta información sobre la respuesta animal esperada para distintos momentos de confección, tipos de reservas (henos vs. Silos) para distintas categorías de animales. Se hace particular énfasis en los puntos críticos para lograr reservas de buena calidad y sobre el uso de las reservas como suplemento de pasturas, en dietas de recría y dietas engorde a corral. Finalmente se destacan algunas deficiencias nutricionales comunes en las reservas forrajeras y su modo de corrección. Aunque es bien conocido que la confección de reservas forrajeras - silos y henos - es una herramienta para la intensificación de los sistemas ganaderos que impacta sobre la productividad individual y por hectárea del sistema, hay que tener en cuenta aspectos claves para la obtención de una reserva de buena calidad y optimizar la ventajas de las reservas en el sistema como son la productividad del material a utilizar, el momento de corte, la conservación y la utilización.

Report of the Working Group for the Bay of Biscay and the Iberian waters Ecoregion (WGBIE). 13-19 May 2016, ICES HQ, Copenhagen, Denmark

The ICES Working Group for the Bay of Biscay and the Iberic waters Ecoregion (WGBIE) met in Copenhagen, Denmark during 13–14 May 2016. There were 22 stocks in its remit distributed from ICES Divisions 3.a–4.a though mostly distributed in Sub Areas 7, 8 and 9. There were 21 participants, some of whom joined the meeting re-motely. The group was tasked with conducting assessments of stock status for 22 stocks using analytical, forecast methods or trends indicators to provide catch forecasts for eight stocks and provide a first draft of the ICES advice for 2016 for fourteen stocks. For the remaining stocks, the group had to update catch information and indices of abundance where needed. Depending on the result of this update, namely if it would change the perception of the stock, the working group drafted new advice. Analytical assessments using age-structured models were conducted for the northern and southern stocks of megrim and the Bay of Biscay sole. The two hake stocks and one southern stock of anglerfish were assessed using models that allow the use of only length-structured data (no age data). A surplus-production model, without age or length structure, was used to assess the second southern stocks of anglerfish. No ana-lytical assessments have been provided for the northern stocks of anglerfish after 2006. This is mostly due to ageing problems and to an increase in discards in recent years, for which there is no reliable data at the stock level. The state of stocks for which no analytical assessment could be performed was inferred from examination of commer-cial LPUE or CPUE data and from survey information. Three nephrops stocks from the Bay of Biscay and the Iberian waters are scheduled for benchmark assessments in October 2016. The WGBIE meeting spent some time review-ing the progress towards the benchmark (see Annex 6) together with longer term benchmarks (2017 and after, see section 1.) for sea bass in the Bay of Biscay, all an-glerfish and hake stocks assessed by the WG. For the northern megrim stock, the sched-ule an inter-benchmark meeting was completed successfully and the group reviewed the outcome and accepted the category 1 update assessment. A recurrent issue significantly constrained the group’s ability to address the terms of reference this year. Despite an ICES data call with a deadline of six weeks before the meeting, data for several stocks were resubmitted during the meeting which lead to increased workloads during the working group, as in that case, the assessments could not be carried out in National Laboratories prior to the meeting as mentioned in the ToRs. This is an important matter of concerns for the group members. Section 1 of the report presents a summary by stock and discusses general issues. Sec-tion 2 provides descriptions of the relevant fishing fleets and surveys used in the as-sessment of the stocks. Sections 3–18 contains the single stock assessments.

DETERMINANTS OF THE ADOPTION OF INTEGRATED SOIL FERTILITY MANAGEMENT TECHNOLOGIES IN MBALE DIVISION, KENYA

The agro-climatic conditions in western Kenya present the region as a food surplus area yet people are still reliant on food imports, with the region registering high poverty levels. Depletion of soil fertility and the resulting decline in agricultural productivity in Mbale division has led to many attempts to develop and popularize Integrated Soil Fertility Management (ISFM) technologies that could restore soil fertility. These technologies bridge the gap between high external inputs and extreme forms of traditional low external input agriculture. Some of the ISFM components used by farmers are organic and inorganic inputs and improved seeds. However, the adoption of these technologies is low. The study aimed to examine the factors that influence the adoption of ISFM technologies by smallholder farmers in Mbale division, Kenya. The study was conducted in 9 sub-locations in Mbale division. Purposive sampling was used in selecting the 80 farmers to get the data based on a farm-household survey. Self-administered questionnaires were used to collect data on the determinants of the adoption of ISFM technologies from the sampled farmers in the study area. The study sought to answer the research question: What factors influence the uptake of ISFM technologies by farmers in Mbale division? The hypothesis tested was that the adoption of ISFM technologies is not influenced by age, education, extension services, labour, off-farm income and farm size. Data was analyzed using descriptive statistics. Cross tabulation was used for examining the relationship between categorical (nominal or ordinal) variables, and the bivariate correlations procedure was used to compute the pair wise associations between scale or ordinal variables. Probit regression was used to predict the socio-economic factors influencing the adoption of ISFM technologies among smallholder farmers. Results of the study indicated that education of household head, membership in social groups, age of the household head, off-farm income and farm size were the variables that significantly influenced the adoption of ISFM technologies. The findings show that there is need for a more pro-poor focused approach to achieve sustainable soil fertility management among smallholder farmers. The findings will help farmers, extension officers, researchers and donors in identifying region-specific entry points that can help in developing innovative ISFM technologies.

Teoria do valor e trabalho produtivo no setor de serviços

Interpretações da teoria do valor trabalho encontram dificuldades em definir o papel e o lugar das atividades de serviço com relação à produção ou não de valor. Esse problema ganha magnitude na medida em que a perspectiva histórica mostra que os serviços são grandes empregadores de mão de obra na atualidade. Tradicionalmente, os serviços são entendidos como atividades não produtivas, devido ao fato, dentre outros argumentos, de que não resultam em materialização na forma de mercadorias, ou que não produzem novos valores e mais-valia. O objetivo deste artigo é examinar essa questão e sugerir a proposição de que certos serviços, que preenchem determinadas condições, podem ser interpretados como produtivos de valor e de mais-valia. O artigo examina as categorias materialidade e imaterialidade, assim como as de trabalho produtivo e não produtivo de valor, introduzindo, a seguir, critérios para distinguir trabalhos produtivos e não produtivos de valor no setor de serviços. Com isso, pretende contribuir para clarificar o entendimento da teoria do valor trabalho num terreno entrecruzado de polêmicas e de posições teóricas diferenciadas. _____________________________________________________________________________________________ ABSTRACT

Trade Liberalization and Organizational Change

We embed a simple incomplete-contracts model of organization design in a standard two-country perfectly-competitive trade model to examine how the liberalization of product and factor markets affects the ownership structure of firms.In our model, managers decide whether or not to integrate their firms, trading off the pecuniary benefits of coordinating production decisions with the private benefits of operating in their preferred ways. The price of output is a crucial determinant of this choice, since it affects the size of the pecuniary benefits. In particular, non-integration is chosen at “low” and “high” prices, while integration occurs at moderate prices. Organizational choices also depend on the terms of trade in supplier markets, which affect the division of surplus between managers. We obtain three main results. First, even when firms do not relocate across countries, the price changes triggered by liberalization of product markets can lead to significant organizational restructuring within countries. Second, the removal of barriers to factor mobility can lead to inefficient reorganization and adversely affect consumers. Third, “deep integration” — the liberalization of both product and factor markets — leads to the convergence of organizational design across countries.

Regimes alimentares no cavalo de desporto : a utilização de alimentos compostos complementares na suplementação das dietas

Dissertação de Mestrado em Engenharia Zootécnica / Produção Animal

What Transaction Costs are Acceptable in Life Insurance Products from the Policyholders' Viewpoint?

Purpose - The purpose of this paper is to analyze what transaction costs are acceptable for customers in different investments. In this study, two life insurance contracts, a mutual fund and a risk-free investment, as alternative investment forms are considered. The first two products under scrutiny are a life insurance investment with a point-to-point capital guarantee and a participating contract with an annual interest rate guarantee and participation in the insurer's surplus. The policyholder assesses the various investment opportunities using different utility measures. For selected types of risk profiles, the utility position and the investor's preference for the various investments are assessed. Based on this analysis, the authors study which cost levels can make all of the products equally rewarding for the investor. Design/methodology/approach - The paper notes the risk-neutral valuation calibration using empirical data utility and performance measurement dynamics underlying: geometric Brownian motion numerical examples via Monte Carlo simulation. Findings - In the first step, the financial performance of the various saving opportunities under different assumptions of the investor's utility measurement is studied. In the second step, the authors calculate the level of transaction costs that are allowed in the various products to make all of the investment opportunities equally rewarding from the investor's point of view. A comparison of these results with transaction costs that are common in the market shows that insurance companies must be careful with respect to the level of transaction costs that they pass on to their customers to provide attractive payoff distributions. Originality/value - To the best of the authors' knowledge, their research question - i.e. which transaction costs for life insurance products would be acceptable from the customer's point of view - has not been studied in the above described context so far.

A COMPARATIVE STUDY AND EVALUATION OF COLLABORATIVE RECOMMENDATION SYSTEMS

Consumers currently enjoy a surplus of goods (books, videos, music, or other items) available to purchase. While this surplus often allows a consumer to find a product tailored to their preferences or needs, the volume of items available may require considerable time or effort on the part of the user to find the most relevant item. Recommendation systems have become a common part of many online business that supply users books, videos, music, or other items to consumers. These systems attempt to provide assistance to consumers in finding the items that fit their preferences. This report presents an overview of recommendation systems. We will also briefly explore the history of recommendation systems and the large boost that was given to research in this field due to the Netflix Challenge. The classical methods for collaborative recommendation systems are reviewed and implemented, and an examination is performed contrasting the complexity and performance among the various models. Finally, current challenges and approaches are discussed.

Non-competition covenants in acquisition deals

We study the changes in the consumers’ and producers’ surplus associated with acquisition deals where there is a non-competition covenant that forbids the seller from re-entering the market over a given time period. We find that these cquisition deals can lead to significant negative (positive) changes in the producers’ consumers’) surplus, which decrease significantly with the time period of the covenant. We also show that the effect of the time period of the covenant on the welfare change can be positive or negative. It depends largely on the market conditions, such as the profit uncertainty and growth rate.