955 resultados para IPO, market timing, Japan, Keiretsu


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Morgan, R.; Strong, C.; and McGuinness, T. (2003). Product-market positioning and prospector strategy: An analysis of strategic patterns from the resource-based perspective. European Journal of Marketing. 37(10), pp.1409-1439 RAE2008

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McGuinness, T. and Morgan, R. (2005). The effect of market and learning orientation on strategy dynamics: The contributing effect of organisational change capability. European Journal of Marketing. 39(11-12), pp.1306-1326 RAE2008

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In pelota matches, bets are made between viewers through a middleman who receives 16% of the finally paid amount. In this paper a description of the way bets are made and an explanation of the existence of those markets is presented. Taking betting markets as a simplified analogy for financial markets we have searched for the explanation in a world where both sides of the market are not different in believes and preferences. Taking observations from actually made bets a preliminary analysis about the biases of those markets is presented.

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The purpose of this paper is to make an example which, first, illustrates Starret’s Spatial Imposibility Theorem, when agents have free mobility; and second, allowes us to get a competitive equilibrium with transportation when agents move only if there is a noticeable difference in utilities that justifies the change of location.

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Background Achieving the goals set by Roll Back Malaria and the Government of Kenya for use of insecticide treated bednets (ITNs) will require that the private retail market for nets and insecticide treatments grow substantially. This paper applies some basic concepts of market structure and pricing to a set of recently-collected retail price data from Kenya in order to answer the question, “How well are Kenyan retail markets for ITNs working?” Methods Data on the availability and prices of ITNs at a wide range of retail outlets throughout Kenya were collected in January 2002, and vendors and manufacturers were interviewed regarding market structure. Findings Untreated nets are manufactured in Kenya by a number of companies and are widely available in large and medium-sized towns. Availability in smaller villages is limited. There is relatively little geographic price variation, and nets can be found at competitive prices in towns and cities. Marketing margins on prices appear to be within normal ranges. No finished nets are imported. Few pre-treated nets or net+treatment combinations are available, with the exception of the subsidized Supanet/Power Tab combination marketed by a donor-funded social marketing project. Conclusions Retail markets for untreated nets in Kenya are well established and appear to be competitive. Markets for treated nets and insecticide treatment kits are not well established. The role of subsidized ITN marketing projects should be monitored to ensure that these projects support, rather than hinder, the development of retail markets.

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The Google AdSense Program is a successful internet advertisement program where Google places contextual adverts on third-party websites and shares the resulting revenue with each publisher. Advertisers have budgets and bid on ad slots while publishers set reserve prices for the ad slots on their websites. Following previous modelling efforts, we model the program as a two-sided market with advertisers on one side and publishers on the other. We show a reduction from the Generalised Assignment Problem (GAP) to the problem of computing the revenue maximising allocation and pricing of publisher slots under a first-price auction. GAP is APX-hard but a (1-1/e) approximation is known. We compute truthful and revenue-maximizing prices and allocation of ad slots to advertisers under a second-price auction. The auctioneer's revenue is within (1-1/e) second-price optimal.

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We propose Trade & Cap (T&C), an economics-inspired mechanism that incentivizes users to voluntarily coordinate their consumption of the bandwidth of a shared resource (e.g., a DSLAM link) so as to converge on what they perceive to be an equitable allocation, while ensuring efficient resource utilization. Under T&C, rather than acting as an arbiter, an Internet Service Provider (ISP) acts as an enforcer of what the community of rational users sharing the resource decides is a fair allocation of that resource. Our T&C mechanism proceeds in two phases. In the first, software agents acting on behalf of users engage in a strategic trading game in which each user agent selfishly chooses bandwidth slots to reserve in support of primary, interactive network usage activities. In the second phase, each user is allowed to acquire additional bandwidth slots in support of presumed open-ended need for fluid bandwidth, catering to secondary applications. The acquisition of this fluid bandwidth is subject to the remaining "buying power" of each user and by prevalent "market prices" – both of which are determined by the results of the trading phase and a desirable aggregate cap on link utilization. We present analytical results that establish the underpinnings of our T&C mechanism, including game-theoretic results pertaining to the trading phase, and pricing of fluid bandwidth allocation pertaining to the capping phase. Using real network traces, we present extensive experimental results that demonstrate the benefits of our scheme, which we also show to be practical by highlighting the salient features of an efficient implementation architecture.

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What brain mechanisms underlie autism and how do they give rise to autistic behavioral symptoms? This article describes a neural model, called the iSTART model, which proposes how cognitive, emotional, timing, and motor processes may interact together to create and perpetuate autistic symptoms. These model processes were originally developed to explain data concerning how the brain controls normal behaviors. The iSTART model shows how autistic behavioral symptoms may arise from prescribed breakdowns in these brain processes.

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Temporal structure in skilled, fluent action exists at several nested levels. At the largest scale considered here, short sequences of actions that are planned collectively in prefrontal cortex appear to be queued for performance by a cyclic competitive process that operates in concert with a parallel analog representation that implicitly specifies the relative priority of elements of the sequence. At an intermediate scale, single acts, like reaching to grasp, depend on coordinated scaling of the rates at which many muscles shorten or lengthen in parallel. To ensure success of acts such as catching an approaching ball, such parallel rate scaling, which appears to be one function of the basal ganglia, must be coupled to perceptual variables, such as time-to-contact. At a fine scale, within each act, desired rate scaling can be realized only if precisely timed muscle activations first accelerate and then decelerate the limbs, to ensure that muscle length changes do not under- or over-shoot the amounts needed for the precise acts. Each context of action may require a much different timed muscle activation pattern than similar contexts. Because context differences that require different treatment cannot be known in advance, a formidable adaptive engine-the cerebellum-is needed to amplify differences within, and continuosly search, a vast parallel signal flow, in order to discover contextual "leading indicators" of when to generate distinctive parallel patterns of analog signals. From some parts of the cerebellum, such signals controls muscles. But a recent model shows how the lateral cerebellum, such signals control muscles. But a recent model shows how the lateral cerebellum may serve the competitive queuing system (in frontal cortex) as a repository of quickly accessed long-term sequence memories. Thus different parts of the cerebellum may use the same adaptive engine system design to serve the lowest and the highest of the three levels of temporal structure treated. If so, no one-to-one mapping exists between levels of temporal structure and major parts of the brain. Finally, recent data cast doubt on network-delay models of cerebellar adaptive timing.

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1) A large body of behavioral data conceming animal and human gaits and gait transitions is simulated as emergent properties of a central pattern generator (CPG) model. The CPG model incorporates neurons obeying Hodgkin-Huxley type dynamics that interact via an on-center off-surround anatomy whose excitatory signals operate on a faster time scale than their inhibitory signals. A descending cornmand or arousal signal called a GO signal activates the gaits and controL their transitions. The GO signal and the CPG model are compared with neural data from globus pallidus and spinal cord, among other brain structures. 2) Data from human bimanual finger coordination tasks are simulated in which anti-phase oscillations at low frequencies spontaneously switch to in-phase oscillations at high frequencies, in-phase oscillations can be performed both at low and high frequencies, phase fluctuations occur at the anti-phase in-phase transition, and a "seagull effect" of larger errors occurs at intermediate phases. When driven by environmental patterns with intermediate phase relationships, the model's output exhibits a tendency to slip toward purely in-phase and anti-phase relationships as observed in humans subjects. 3) Quadruped vertebrate gaits, including the amble, the walk, all three pairwise gaits (trot, pace, and gallop) and the pronk are simulated. Rapid gait transitions are simulated in the order--walk, trot, pace, and gallop--that occurs in the cat, along with the observed increase in oscillation frequency. 4) Precise control of quadruped gait switching is achieved in the model by using GO-dependent modulation of the model's inhibitory interactions. This generates a different functional connectivity in a single CPG at different arousal levels. Such task-specific modulation of functional connectivity in neural pattern generators has been experimentally reported in invertebrates. Phase-dependent modulation of reflex gain has been observed in cats. A role for state-dependent modulation is herein predicted to occur in vertebrates for precise control of phase transitions from one gait to another. 5) The primary human gaits (the walk and the run) and elephant gaits (the amble and the walk) are sirnulated. Although these two gaits are qualitatively different, they both have the same limb order and may exhibit oscillation frequencies that overlap. The CPG model simulates the walk and the run by generating oscillations which exhibit the same phase relationships. but qualitatively different waveform shapes, at different GO signal levels. The fraction of each cycle that activity is above threshold quantitatively distinguishes the two gaits, much as the duty cycles of the feet are longer in the walk than in the run. 6) A key model properly concerns the ability of a single model CPG, that obeys a fixed set of opponent processing equations to generate both in-phase and anti-phase oscillations at different arousal levels. Phase transitions from either in-phase to anti-phase oscillations, or from anti-phase to in-phase oscillations, can occur in different parameter ranges, as the GO signal increases.

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Advanced Research Projects Agency (ONR N00014-92-J-4015); National Science Foundation (IRI-90-24877); Office of Naval Research (N00014-91-J-1309)

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This paper describes the design of a self~organizing, hierarchical neural network model of unsupervised serial learning. The model learns to recognize, store, and recall sequences of unitized patterns, using either short-term memory (STM) or both STM and long-term memory (LTM) mechanisms. Timing information is learned and recall {both from STM and from LTM) is performed with a learned rhythmical structure. The network, bearing similarities with ART (Carpenter & Grossberg 1987a), learns to map temporal sequences to unitized patterns, which makes it suitable for hierarchical operation. It is therefore capable of self-organizing codes for sequences of sequences. The capacity is only limited by the number of nodes provided. Selected simulation results are reported to illustrate system properties.