The Determinants of Price in Online Auctions: More Evidence from Quantile Regression

This study explores how seller reputations affect auction prices, and concludes that earlier findings may be biased due to the misspecification of seller reputation. This paper contributes to the literature by offering significant empirical evidence using Taiwanese Internet auction data. Our study reveals that the influence of seller reputations on auction prices is significant, irrespective of the assumptions of linear and non-linear relationships with price. However, failure to consider the non-linear setting of seller reputation would have led us to overestimate the impact of reputations on prices because marginal returns to an incremental increase in reputation declines rapidly for sellers who have more than 15 scores. In addition, using quantile regression, this study finds evidence of considerable differences in their impact on auction prices dependent on the distribution of price levels.Internet auction, reputation, Taiwan, Yahoo! Kimo, quantile regression

THE ROLE OF FIRM SIZE IN CONTROLLING OUTPUT DECLINE DURING THE ASIAN FINANCIAL CRISIS

This study sets out to develop a simplified risk premium model to explain output decline within the economies of Asia in the immediate aftermath of the Asian financial crisis. Firms are allowed to borrow from both domestic and foreign banks, with the firms¡¯ debts being loosely constrained (at high levels) prior to the crisis (lending boom) but becoming tightly constrained (at low levels) on the outbreak of the crisis (lending bust). The lending rate is a function of the debt-capital ratio; thus if firms have only limited access to the credit market, then they will accumulate less capital and become small firms. Given their lower collateral, small firms face higher risk premiums which will ultimately lead to a much greater reduction in output when a credit crunch suddenly hits. Our model predicts that small firm size will accelerate unanticipated shocks; therefore, output decline will be greater in countries with small firms than in those with large firms.Asian Financial Crisis, Firm Size, Credit Constraints, Risk Premiums

Adept robot vision system and magnet-type end effector used for integrated circuit component assembly

The machine vision system (MVS) has been heavily publicized because of its potentially crucial contribution to robotics. It is essential to alignment and inspection tasks in integrated circuit components\u27 assembly equipment. The objective of this thesis was to examine the capability of a MVS to assist in the automated robot assembly of the dual-in line device (DIL) and surface-mounted-device (SMD). The DIL, with 8x2-pin, and the SMD, with 24x 16-pin, were used as models, while an Adept SCARA robot was used as the robot system. A magnet-type end effector, with a force sensor, was also designed to be incorporated with the vision system to measure applied force during assembly. A vision accuracy of 0.12mm/pixel and 0.12 was obtained, and an overall reliability of 91% for chip recognition and inspection was achieved. A complete assembly cycle time of 75 seconds, operating at a low robot speed of 50mm/sec (2in/sec), was recorded. The end effector detected assembly force with an average of 5. 1% tolerance from the preset value. Polynomial fitting functions, calculated by using the Least Squares method, were employed to interpolate the experimental calibration data and to improve the force sensor accuracy of the end effector. Descriptions of the Adept robot system, vision system, and force sensing end effector are included

City bike program in Taiwan

This design project was inspired by Danish city bike program. I studied furniture design in Denmark; during my stay I experienced the joy and the convenience of public city bike. Cycling is a life style and the expression of naturalism in Denmark. It is also considered as the main mode of transportation among the Danish people. The implementation of the city bike program is not only prosperous in Denmark but also in other Europe countries. This cycling spate (rush) is affecting countries where environment consciousness appear to be of much concern. On the contrary, Taiwan, which happens to own the largest market share for exporting bicycles is also a country where its people are less motivated to using bicycle as their main mode for commuting. From the above statement it is clear the implementation of the city bike program in Taiwan will be easy as long as there is some sort of government intervention. Taiwan is such a small country and can proudly boost of its numerous mass rapid transit system and high speed rail way system. These systems are considered the best supportive elements to run the public city bike program. The Taiwanese government has implemented several bike friendly programs for years and has recently started paying attentions to a bike right of way. Which means the future and potential practice of the city bike program in Taiwan is bright. Via observations and surveys, I am going to address various kinds of attractive designs which could draw people\u27s interests to frequent the use of public city bike in their daily life as well as improving overall city bike program to suit Taiwanese needs

The effect of combining a Wingate sprint with circuit weight training on growth hormone in response to exercise.

Human growth hormone (HGH) in response to resistance training has been suggested to be correlated with the muscle hypertrophy adapted to resistance training. The purpose of this study was to investigate whether or not adding a Wingate sprint to a circuit weight training session would optimize the acute HGH response to exercise. Methods. Seven recreational resistance-trained male subjects (n=8) performed 4 exercise trials in a balanced order: 1) a Wingate sprint only(W), 2) a circuit weight training session (C), 3) a Wingate sprint prior to circuit weight training session (WC), 4) a Wingate sprint following circuit weight training session (CW). Blood samples were collected at rest prior to each exercise trial, and at 5, 10, 20, 30, 45, and 60 min post cool-down for all trials. The Wingate sprint was against a resistance of 7% of the subjects body mass (0.7Nm/kg) on a cycle ergometer. The circuit weight training session was a full body workout (40%-50% 1RM for circuit 1 and 70% 1RM for circuit 2 and 3) consisting of 6 exercises in the following exercise order — bench press, bent-over barbell row, smith machine squat, seated dumbbell shoulder press without back support, Romanian deadlift, and latissiumus dorsi pull-down. HGH was measured at the respective time for blood collections. Blood lactate concentration and rate of perceived exertion (RPE) were measured immediately after exercise and prior to cool-down in each trial. Results. Both the WC and CW trials resulted in significant increases in serum HGH concentrations up to 30 min post cool-down. The C trial resulted in a significant increase in serum HGH concentration up to 20 min post cool-down. No significant increase in serum HGH concentration post cool-down was found after the W trial. The CW trial resulted in: 1) significantly higher blood lactate concentration and RPE compared to other trials (p\u3c.05), 2) a significantly higher serum HGH concentration compared to the W and the C trials at 20 min post cool-down (p\u3c.05), 3) a significantly higher HGH concentration compared to the C and the WC trials at 30 min post cool-down (p\u3c.05), 4) a significantly higher HGH AUC compared to the C and the W trials (p\u3c.05), 5) a significant higher peak HGH concentration compared to the C trial (p\u3c.05). No significant difference was found in peak power, mean power, fatigue ratio, and peak cadence between all trials. No correlation was found between blood lactate concentration and HGH AUC, blood lactate concentration and peak HGH, and age and HGH AUC. Conclusion. The CW might produce greater muscle adaptation from exercise compared to other trials.\u2