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Articles 1 - 23 of 23
Full-Text Articles in Business
Nonmarket Performance: Evidence From U.S. Electric Utilities, Jean-Philippe Bonardi, Guy Holburn, Rick Vanden Bergh
Nonmarket Performance: Evidence From U.S. Electric Utilities, Jean-Philippe Bonardi, Guy Holburn, Rick Vanden Bergh
Jean-Philippe Bonardi
No abstract provided.
Simulation Of The Colombian Firm Energy Market, Peter Cramton, Steven Stoft
Simulation Of The Colombian Firm Energy Market, Peter Cramton, Steven Stoft
Peter Cramton
We present a simulation analysis of the proposed Colombian firm energy market. The main purpose of the simulation is to assess the risk to suppliers of participation in the market. We also are able to consider variations in the market design, and assess the impact of alternative auction parameters. Three simulation models are developed and analyzed. The first model (Model 1) uses historical price data from October 1995 through May 2006 to assess the performance risk of hypothetical thermal and hydro generating units. The second model (Model 2) uses historical price and operating data to assess performance risk of the …
Expert Advice, Control, And Heterogeneous Beliefs, Leonidas E. De La Rosa
Expert Advice, Control, And Heterogeneous Beliefs, Leonidas E. De La Rosa
Leonidas Enrique de la Rosa
In this paper, I study the effects of overconfidence in an investment-decision setting. A risk-averse agent privately observes information relevant to an investment decision, which he can then report to a principal. In a standard common-priors setting, the optimal contract provides full insurance to the agent: the principal pays a fixed wage to the agent, asks him to reveal his information, and implements the efficient investment rule. When the agent overestimates the expected revenue of the project following investment, however, he is willing to "wager" on success against the (relatively pessimistic) principal, and hence bear some project risk in equilibrium. …
Adding Ecological Considerations To Environmental Accounting, David A. Bainbridge
Adding Ecological Considerations To Environmental Accounting, David A. Bainbridge
David A Bainbridge
Environmental accounting has often neglected ecological costs. These are essential to complete a true cost accounting. Ecological costs are often very large and long term and if they are ignored the costs/benefits of projects are incorrectly calculated.
Smes And Corporate Social Responsibility. Some Evidences From An Empirical Research, Mara Del Baldo
Smes And Corporate Social Responsibility. Some Evidences From An Empirical Research, Mara Del Baldo
mara del baldo
No abstract provided.
666, The Antichrist And Satan, David Randall Jenkins
666, The Antichrist And Satan, David Randall Jenkins
David Randall Jenkins
The Efficient Recalcitrance Assumption plagues [(Star of David Set), (N: N+1)] transition, begetting scripture's "666," "Antichrist" and "Satan" metaphorical references.
New England’S Forward Capacity Auction, Peter Cramton
New England’S Forward Capacity Auction, Peter Cramton
Peter Cramton
This note provides a brief description of New England’s Forward Capacity Auction (FCA) for the procurement of electricity capacity. The description is based on the 6 March 2006 Settlement Agreement. The description here presents a simpler description of the auction mechanics, and limits the presentation to the key elements relevant to someone providing software and other support to implement the primary auction. In addition, some motivation for the approach is given. The description here is not a software specification, but rather a high-level description of the auction. Many implementation details are yet to be resolved. These details will be resolved …
The Convergence Of Market Designs For Adequate Generating Capacity, Peter Cramton, Steven Stoft
The Convergence Of Market Designs For Adequate Generating Capacity, Peter Cramton, Steven Stoft
Peter Cramton
This paper compares market designs intended to solve the resource adequacy (RA) problem, and finds that, in spite of rivalrous claims, the most advanced designs have nearly converged. The original dichotomy between approaches based on long-term energy contracts and those based on short-term capacity markets spawned two design tracks. Long-term contracts led to call-option obligations which provide market-power control and the ability to strengthen performance incentives, but this approach fails to replace the missing money at the root of the adequacy problem. Hogan’s energy-only market fills this gap. On the other track, the short-term capacity markets (ICAP) spawned long-term capacity …
Globalization & Nationalism: A Recipe For Terror, Cari Bourette, Daniel Reader
Globalization & Nationalism: A Recipe For Terror, Cari Bourette, Daniel Reader
Cari Bourette
Nationalism appears to be part of the human condition; it may well be related to the human tendency toward tribalism. Whatever the case, nationalism appears to be a permanent feature on the global landscape. Globalization, while not a new phenomenon by any means, seems to be having a tremendous dilutory effect on the sovereignty of states; it now appears to be carrying the assault to the cultural frontiers of nationalism. Unlike the Westphalian constructs, however, nations will not so easily succumb. There is a greater inherent resistance to change in nations; the only historically effective method has been outright eradication …
Affidavit Of Peter Cramton, Peter Cramton
Affidavit Of Peter Cramton, Peter Cramton
Peter Cramton
Affidavit in support of the settlement agreement defining the New England Forward Capacity Market. For ISO New England.
Declaration Of Peter Cramton On The Aws Auction, Peter Cramton
Declaration Of Peter Cramton On The Aws Auction, Peter Cramton
Peter Cramton
Declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.
Reply Declaration Of Peter Cramton On The Aws Auction, Peter Cramton
Reply Declaration Of Peter Cramton On The Aws Auction, Peter Cramton
Peter Cramton
Reply declaration on various auction rules for the AWS auction. On behalf of T-Mobile US.
Strategies For Ip And Technology Standards, Ron D. Katznelson
Strategies For Ip And Technology Standards, Ron D. Katznelson
Ron D. Katznelson
No abstract provided.
Acorn Use As Food, David A. Bainbridge
Acorn Use As Food, David A. Bainbridge
David A Bainbridge
The acorns from oaks (Quercus) and tan oaks (Lithocarpus) have been used as food for many thousands of years. They occur in the archaeological record of the early town sites in the Zagros Mountains, at Catal Hüyük (6000 BC), and oak trees were carefully inventoried by the Assyrians during the reign of Sargon II. In Europe, Asia, North Africa, the Mid-East, and North America, acorns were once a staple food. They are still a commercial food crop in several countries. Acorns are still harvested and used in several areas of the United States, most notably Southern Arizona and California. There …
Managing The Value Of Ecclesiastic And Religious Heritage. The Experience Of Some Italian Dioceses, Mara Del Baldo
Managing The Value Of Ecclesiastic And Religious Heritage. The Experience Of Some Italian Dioceses, Mara Del Baldo
mara del baldo
No abstract provided.
Harnessing Growth Spillovers For Rural Development: The Effects Of Regional Spatial Structure, Edward Feser, Andrew Isserman
Harnessing Growth Spillovers For Rural Development: The Effects Of Regional Spatial Structure, Edward Feser, Andrew Isserman
Edward J Feser
Many rural development strategies seek to leverage urban to-rural growth spillovers. This paper concludes that their success depends on the spatial structure surrounding the target rural counties. We develop a county-level spatial growth model to identify the positive spread and negative backwash effects of urban to rural spillovers in the lower 48 states over the 1990-2000 period. Instead of the conventional, fallacious substitution of metropolitan and nonmetropolitan for urban and rural, we consider the urban and rural character of each county. Mostcounties have both urban and rural populations, and we classify each as urban, mixed urban, or rural depending on …
Introduction To Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Introduction To Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Peter Cramton
Combinatorial auctions are those auctions in which bidders can place bids on combinations of items, called “packages,” rather than just individual items. The study of combinatorial auctions is inherently interdisciplinary. Combinatorial auctions are in the first place auctions, a topic extensively studied by economists. Package bidding brings in operations research, especially techniques from combinatorial optimization and mathematical programming. Similarly, computer science is concerned with expressiveness of various bidding languages, and algorithmic aspects of the combinatorial problem. The study of combinatorial auctions thus lies at the intersection of economics, operations research, and computer science. In this book, we look at combinatorial …
The Clock-Proxy Auction: A Practical Combinatorial Auction Design, Lawrence M. Ausubel, Peter Cramton, Paul Milgrom
The Clock-Proxy Auction: A Practical Combinatorial Auction Design, Lawrence M. Ausubel, Peter Cramton, Paul Milgrom
Peter Cramton
We propose the clock-proxy auction as a practical means for auctioning many related items. A clock auction phase is followed by a last-and-final proxy round. The approach combines the simple and transparent price discovery of the clock auction with the efficiency of the proxy auction. Linear pricing is maintained as long as possible, but then is abandoned in the proxy round to improve efficiency and enhance seller revenues. The approach has many advantages over the simultaneous ascending auction. In particular, the clock-proxy auction has no exposure problem, eliminates incentives for demand reduction, and prevents most collusive bidding strategies.
Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Peter Cramton
A comprehensive book on combinatorial auctions―auctions in which bidders can bid on packages of items. The book consists of original material intended for researchers, students, and practitioners of auction design. It includes a foreword by Vernon Smith, an introduction to combinatorial auctions, and twenty-three cross-referenced chapters in five parts. Part I covers mechanisms, such as the Vickrey auction and the ascending proxy auction. Part II is on bidding and efficiency issues. Part III examines computational issues and algorithmic considerations, especially the winner determination problem―how to identify the (tentative) winning set of bids that maximizes revenue. Part IV discusses implementation and …
Dynamic Auctions In Procurement, Peter Cramton, Lawrence M. Ausubel
Dynamic Auctions In Procurement, Peter Cramton, Lawrence M. Ausubel
Peter Cramton
We study the theory and practical implementation of dynamic procurement auctions. We consider the procurement of many related items. With many related items, price discovery is important not only to reduce the winner’s curse, but more importantly, to simplify the bidder’s decision problem and to facilitate the revelation of preferences in the bids. Three auction formats are considered: simultaneous descending auctions are preferred if the items are not divisible, simultaneous clock auctions are desirable for procuring many divisible goods, and the clock-proxy auction is best if complementarities among items are strong and varied across the suppliers. We examine the properties …
Simultaneous Ascending Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Simultaneous Ascending Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg
Peter Cramton
The simultaneous ascending auction has proved to be a successful method of auctioning many related items. Simultaneous sale and ascending bids enable price discovery, which helps bidders build desirable packages of items. Although package bids are not allowed, the auction format does handle mild complementarities well. I examine the auction design and its performance in practice.
The Role Of Connective Tissue Growth Factor In Skeletal Growth And Development, Philadelphia University
The Role Of Connective Tissue Growth Factor In Skeletal Growth And Development, Philadelphia University
Philadelphia University, Jordan
No abstract provided.
Social Choice Theory Implications For Management Control Systems, David Randall Jenkins
Social Choice Theory Implications For Management Control Systems, David Randall Jenkins
David Randall Jenkins
This paper contributes a social choice theory competent context to managerial accounting. This context enables an economic progression framework that will ultimately drive performance measure content and, inter alia, contribute a meaningful standard for financial accounting's going concern assumption.