Tracking the invisible hand: Convergence of double auctions to competitive equilibrium

Economics is the science of want and scarcity. We show that want andscarcity, operating within a simple exchange institution (double auction),are sufficient for an economy consisting of multiple inter--related marketsto attain competitive equilibrium (CE). We generalize Gode and Sunder's(1993a, 1993b) single--market finding to multi--market economies, andexplore the role of the scarcity constraint in convergence of economies to CE.When the scarcity constraint is relaxed by allowing arbitrageurs in multiple markets to enter speculative trades, prices still converge to CE,but allocative efficiency of the economy drops. \\Optimization by individual agents, often used to derive competitive equilibria,are unnecessary for an actual economy to approximately attain such equilibria.From the failure of humans to optimize in complex tasks, one need not concludethat the equilibria derived from the competitive model are descriptivelyirrelevant. We show that even in complex economic systems, such equilibriacan be attained under a range of surprisingly weak assumptions about agentbehavior.

When Preference Is Not Satisfied but the Individual Is: How Power Distance Affects Person-Job Fit

One aspect of person-job fit reflects congruence between personal preferences and job design; as congruence increases so should satisfaction. We hypothesized that power distance would moderate whether fit is related to satisfaction with degree of job formalization. We obtained measures of job-formalization, fit and satisfaction, as well as organizational commitment from employees (n = 772) in a multinational firm with subsidiaries in six countries. Confirming previous findings, individuals from low power-distance cultures were most satisfied with increasing fit. However, the extent to which individuals from high power-distance cultures were satisfied did not necessarily depend on increasing fit, but mostly on whether the degree of formalization received was congruent to cultural norms. Irrespective of culture, satisfaction with formalization predicted a broad measure of organizational commitment. Apart from our novel extension of fit theory, we show how moderation can be tested in the context of polynomial response surface regression and how specific hypotheses can be tested regarding different points on the response surface.

Revealed preference and indifferent selection

It is shown that preferences can be constructed from observed choice behavior in a way that is robust to indifferent selection (i.e., the agent is indifferent between two alternatives but, nevertheless, is only observed selecting one of them). More precisely, a suggestion by Savage (1954) to reveal indifferent selection by considering small monetary perturbations of alternatives is formalized and generalized to a purely topological framework: references over an arbitrary topological space can be uniquely derived from observed behavior under the assumptions that they are continuous and nonsatiated and that a strictly preferred alternative is always chosen, and indifferent selection is then characterized by discontinuity in choice behavior. Two particular cases are then analyzed: monotonic preferences over a partially ordered set, and preferences representable by a continuous pseudo-utility function.

Host preference of the egg parasitoids Telenomus remus and Trichogramma pretiosum in laboratory

Host preference of the egg parasitoids Telenomus remus and Trichogramma pretiosum in laboratory. This research aimed to evaluate the host preference of the egg parasitoids Telenomus remus and Trichogramma pretiosum. Trials were carried out in laboratory, under controlled environmental conditions (25 ± 2ºC temperature; 70 ± 10% RH; and 14 h photophase). The parasitoid searching behavior was evaluated based on the distribution (%) of eggs parasitized by each parasitoid, on egg masses of each host species. Results showed the host preference of T. remus by Spodoptera cosmioides eggs. T. pretiosum, reared in A. gemmatalis eggs, choose to parasitize always eggs of the host where the parasitoid had been reared. The egg preference was not observed when T. pretiosum was reared in S. frugiperda eggs. These results show that, in general, host preference of T. remus is less influenced by the host where it is developed than T. pretiosum. Host preference is an important parameter for biological control programs because more than one pest species may occur in the field, different from those where they were reared in the laboratory.

Eliciting consumers preferences using stated preference discrete choice models: Contingent ranking versus choice experiment

The aim of this paper is twofold: firstly, to carry out a theoreticalreview of the most recent stated preference techniques used foreliciting consumers preferences and, secondly, to compare the empiricalresults of two dierent stated preference discrete choice approaches.They dier in the measurement scale for the dependent variable and,therefore, in the estimation method, despite both using a multinomiallogit. One of the approaches uses a complete ranking of full-profiles(contingent ranking), that is, individuals must rank a set ofalternatives from the most to the least preferred, and the other usesa first-choice rule in which individuals must select the most preferredoption from a choice set (choice experiment). From the results werealize how important the measurement scale for the dependent variablebecomes and, to what extent, procedure invariance is satisfied.

Manual de quenya: llengua i història dels Èldar fins a la primera edat

Treball de recerca realitzat per alumnes d’ensenyament secundari i guardonat amb un Premi CIRIT per fomentar l'esperit científic del Jovent l’any 2010. L’objectiu general del treball ha estat conèixer en profunditat el món creat per JRR Tolkien, especialment la llengua quenya, i transmetre de forma entenedora els coneixements obtinguts. Altres objectius més específics han estat estudiar les llengües inventades per Tolkien; establir els criteris lingüístics necessaris per construir una gramàtica i un manual de quenya que reculli llengua i cultura, així com exercicis i activitats diversos. Els resultats han quedat reflectits en l'autoedició d'un llibre de text.

Mirror therapy in children with hemiplegia: a pilot study.

Mirror therapy, which provides the visual illusion of a functional paretic limb by using the mirror reflection of the non-paretic arm, is used in the rehabilitation of hemiparesis after stroke in adults. We tested the effectiveness and feasibility of mirror therapy in children with hemiplegia by performing a pilot crossover study in ten participants (aged 6-14 y; five males, five females; Manual Ability Classification System levels: one at level I, two at level II, four at level III, three at level IV) randomly assigned to 15 minutes of daily bimanual training with and without a mirror for 3 weeks. Assessments of maximal grasp and pinch strengths, and upper limb function measured by the Shriner's Hospital Upper Extremity Evaluation were performed at weeks 0 (baseline), 3, 6 (intervention), and 9 (wash-out). Testing of grasp strength behind the mirror improved performance by 15% (p=0.004). Training with the mirror significantly improved grasp strength (with mirror +20.4%, p=0.033; without +5.9%, p>0.1) and upper limb dynamic position (with mirror +4.6%, p=0.044; without +1.2%, p>0.1), while training without a mirror significantly improved pinch strength (with mirror +6.9%, p>0.1; without +21.9%, p=0.026). This preliminary study demonstrates the feasibility of mirror therapy in children with hemiplegia and that it may improve strength and dynamic function of the paretic arm.

Manual introductorio de ecotoxicología acuática

El presente Manual muestra los métodos revisados de pruebas de toxicidad por agencias ambientales extranjeras, los cuales han sido adaptados empleando organismos que habitan el mar peruano. Se presenta la recopilación de las experiencias propias realizadas mediante la estandarización de protocolos que se han desarrollado desde 1988 en el Instituto del Mar del Perú.

Iowa Drivers Manual, 2008-2009

The rules and regulations for operating a motored vehicles in Iowa.

Iowa Motorcycle Operator's Manual, April 27, 2009

The rules and regulations for owning and operating a motorcycle in Iowa

Measuring mechanical impedance in clayey gravelly soils

Mechanical impedance of clayey and gravelly soils is often needed to interpret experimental results from tillage and other field experiments. Its measurement is difficult with manual and hydraulic penetrometers, which often bend or break in such soils. The purpose of this study was to evaluate the feasibility of a hand-operated "Stolf" impact penetrometer to measure mechanical impedance (soil resistance). The research was conducted in Raleigh, North Carolina, USA (35º 45'N, 78º 42'W, elevation 75 m). Corn was planted on April 19, 1991. Penetrometer measurements were taken on May 10, 1991, in 5 cm intervals to 60 cm at 33 locations on a transect perpendicular to the corn rows in each of four tillage treatments. The data permitted three-dimensional displays showing how mechanical impedance changed with depth and distance along the transect. The impact penetrometer proved to be a useful tool to collect quantitative mechanical impedance data on "hard" clayey and/or gravelly soils which previously were difficult to reliably quantify.