Mixed Strategies in Discriminatory Divisible-good Auctions

Author: Edward J. Anderson, Pär Holmberg and Andrew B. Philpott Keywords: Pay-as-bid Auction; Divisible Good Auction; Mixed Strategy Equilibria; Wholesale Electricity Markets Pages: 71 Published: November 24, 2009 JEL-codes: D43; D44; C72 Download Wp814.pdf (756 kB) Abstract Using the concept of market-distribution functions, we derive general optimality conditions for discriminatory divisible-good auctions, which are also applicable to Bertrand games and non-linear pricing. We introduce the concept of offer distribution function to analyze randomized offer curves, and characterize mixed-strategy Nash equilibria for pay-as-bid auctions where demand is uncertain and costs are common knowledge; a setting for which pure-strategy supply function equilibria typically do not exist. We generalize previous results on mixtures over horizontal offers as in Bertrand-Edgeworth games, but more importantly we characterize novel mixtures over partly increasing supply functions.Pay-as-bid Auction; Divisible Good Auction; Mixed Strategy Equilibria; Wholesale Electricity Markets

Hanging In, Stepping up and Stepping Out: Livelihood Aspirations and Strategies of the Poor Development in Practice

In recent years understanding of poverty and of ways in which people escape from or fall into poverty has become more holistic. This should improve the capabilities of policy analysts and others working to reduce poverty, but it also makes analysis more complex. This paper describes a simple schema which integrates multidimensional, multilevel and dynamic understandings of poverty, of poor people’s livelihoods, and of changing roles of agricultural systems. The paper suggests three broad types of strategy pursued by poor people: ‘hanging in’; ‘stepping up’; and ‘stepping out’. This simple schema explicitly recognises the dynamic aspirations of poor people; diversity among them; and livelihood diversification. It also brings together aspirations of poor people with wider sectoral, inter-sectoral and macro-economic questions about policies necessary for realisation of those aspirations

Effect of spatial waveform on apparent spatial frequency

AbstractWe examined the effect of spatial waveform on the perceived spatial frequency of a grating target. The luminance profile of 0.5 c/° sinusoidal gratings was modified by either compressive or expansive power functions, and was presented alternately with a true sinusoidal grating. Subjects matched the apparent spatial frequency of the two gratings using a method of adjustment. Both compressive and expansive power functions lowered the perceived spatial frequency of the grating, irrespective of the stimulus contrast. Rectified sine wave gratings were also found to reduce apparent spatial frequency. The magnitude of the spatial frequency shifts with spatial waveform diminished with successive matches, which may represent a change in matching strategy employed by observers. Calculations and a further experiment suggest that judgements of spatial frequency may in part be determined by the separation between edges in a grating

Deterministic, Stash-Free Write-Only ORAM

Write-Only Oblivious RAM (WoORAM) protocols provide privacy by encrypting the contents of data and also hiding the pattern of write operations over that data. WoORAMs provide better privacy than plain encryption and better performance than more general ORAM schemes (which hide both writing and reading access patterns), and the write-oblivious setting has been applied to important applications of cloud storage synchronization and encrypted hidden volumes. In this paper, we introduce an entirely new technique for Write-Only ORAM, called DetWoORAM. Unlike previous solutions, DetWoORAM uses a deterministic, sequential writing pattern without the need for any "stashing" of blocks in local state when writes fail. Our protocol, while conceptually simple, provides substantial improvement over prior solutions, both asymptotically and experimentally. In particular, under typical settings the DetWoORAM writes only 2 blocks (sequentially) to backend memory for each block written to the device, which is optimal. We have implemented our solution using the BUSE (block device in user-space) module and tested DetWoORAM against both an encryption only baseline of dm-crypt and prior, randomized WoORAM solutions, measuring only a 3x-14x slowdown compared to an encryption-only baseline and around 6x-19x speedup compared to prior work

Polycistronic Delivery of IL-10 and NT-3 Promotes Oligodendrocyte Myelination and Functional Recovery in a Mouse Spinal Cord Injury Model.

One million estimated cases of spinal cord injury (SCI) have been reported in the United States and repairing an injury has constituted a difficult clinical challenge. The complex, dynamic, inhibitory microenvironment postinjury, which is characterized by proinflammatory signaling from invading leukocytes and lack of sufficient factors that promote axonal survival and elongation, limits regeneration. Herein, we investigated the delivery of polycistronic vectors, which have the potential to coexpress factors that target distinct barriers to regeneration, from a multiple channel poly(lactide-co-glycolide) (PLG) bridge to enhance spinal cord regeneration. In this study, we investigated polycistronic delivery of IL-10 that targets proinflammatory signaling, and NT-3 that targets axonal survival and elongation. A significant increase was observed in the density of regenerative macrophages for IL-10+NT-3 condition relative to conditions without IL-10. Furthermore, combined delivery of IL-10+NT-3 produced a significant increase of axonal density and notably myelinated axons compared with all other conditions. A significant increase in functional recovery was observed for IL-10+NT-3 delivery at 12 weeks postinjury that was positively correlated to oligodendrocyte myelinated axon density, suggesting oligodendrocyte-mediated myelination as an important target to improve functional recovery. These results further support the use of multiple channel PLG bridges as a growth supportive substrate and platform to deliver bioactive agents to modulate the SCI microenvironment and promote regeneration and functional recovery. Impact statement Spinal cord injury (SCI) results in a complex microenvironment that contains multiple barriers to regeneration and functional recovery. Multiple factors are necessary to address these barriers to regeneration, and polycistronic lentiviral gene therapy represents a strategy to locally express multiple factors simultaneously. A bicistronic vector encoding IL-10 and NT-3 was delivered from a poly(lactide-co-glycolide) bridge, which provides structural support that guides regeneration, resulting in increased axonal growth, myelination, and subsequent functional recovery. These results demonstrate the opportunity of targeting multiple barriers to SCI regeneration for additive effects