The Effect of Information on the Bidding and Survival of Entrants in Procurement Auctions

In government procurement auctions of construction contracts, entrants are typically less informed and bid more aggressively than incumbent firms. This bidding behavior makes them more susceptible to losses a¤ecting their prospect of survival. In April of 2000, the Oklahoma Department of Transportation started releasing the internal cost estimates to complete highway construction projects. Using newly developed quantile regression approaches, this paper examines the impact of the policy change on aggressive entrants. First, we find that the information release eliminates the bidding differential between entrants and incumbents attributed to informational asymmetries. Second, we argue that the policy change a¤ects the prospects of survival of entrants in the market. We find that those who used to exit the market relatively soon are now staying 37 percent longer, while at the median level bidding duration increased by roughly 68 percent. The policy has the potential to encourage entry in government procurement auctions and thus increase competition.Entry; Survival; Information Release; Procurement Auctions

Disadvantaged business enterprise goals in government procurement contracting: an analysis of bidding behavior and costs

Programs that encourage the participation of disadvantaged business enterprises (DBE) as subcontractors have been a part of government procurement auctions for over three decades. In this paper, we examine the impact of a program that requires prime contractors to subcontract out a portion of a highway procurement project to DBE firms. We study how DBE subcontracting requirements affect bidding behavior in federally funded projects. Within a symmetric independent private value framework, we use the equilibrium bidding function to obtain the cost distribution of firms undertaking projects either with or without subcontracting goals. We then use nonparametric estimation methodsto uncover and compare the cost of firms bidding on a class of asphalt projects related to surface treatment in Texas. The analysis shows little differences in the cost structure between auctions that have subcontracting goals and those that do not.Auctions ; Government purchasing

About low field memory and negative magnetization in semiconductors and polymers

Ginzburg-Landau bulk magnetization of itinerant electrons can provide a negative effective field in the Weiss model by coupling to localized magnetic moments. The coupling enforces remnant magnetization, which can be negative or positive depending on the sample magnetic history. Stable magnetic susceptibility of coupled nonequilibrium subsystems with magnetization reversal is always positive. Gauss-scale fields could be expected for switching between negative and positive remnant moments in semiconductors with coupling at ambient temperatures. Negative magnetization in ultra-high conducting polymers is also discussed within the developed framework.Comment: 8 pages, no figure

Preface: Marine and Lake Paleoseismology

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Project modifications and bidding in highway procurement auctions

This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such changes in contracts into their bidding strategies. In particular, contractors may adjust bids to compensate for renegotiation, resequencing of tasks, and other costs associated with project modifications. This paper extends this literature by examining bidding behavior and project modifications in Texas, where there has been a significant shift in change order policy. Specifically, Texas sharply reduced its spending on change orders starting in the mid-2000s. In the period before the change in policy, we estimate that project modifications raised bidder costs by 4 percent to 6 percent. In the period after the change in policy, the impact of project modifications on bidder costs is estimated to be closer to 1 percent

CO-Dark Star Formation and Black Hole Activity in 3C 368 at z = 1.131: Coeval Growth of Stellar and Supermassive Black Hole Masses

We present the detection of four far-infrared fine-structure oxygen lines, as well as strong upper limits for the CO(2-1) and [N II] 205 um lines, in 3C 368, a well-studied radio-loud galaxy at z = 1.131. These new oxygen lines, taken in conjunction with previously observed neon and carbon fine-structure lines, suggest a powerful active galactic nucleus (AGN), accompanied by vigorous and extended star formation. A starburst dominated by O8 stars, with an age of ~6.5 Myr, provides a good fit to the fine-structure line data. This estimated age of the starburst makes it nearly concurrent with the latest episode of AGN activity, suggesting a link between the growth of the supermassive black hole and stellar population in this source. We do not detect the CO(2-1) line, down to a level twelve times lower than the expected value for star forming galaxies. This lack of CO line emission is consistent with recent star formation activity if the star-forming molecular gas has low metallicity, is highly fractionated (such that CO is photodissociated through much of the clouds), or is chemically very young (such that CO has not yet had time to form). It is also possible, though we argue unlikely, that the ensemble of fine structure lines are emitted from the region heated by the AGN.Comment: 10 pages, 4 figures, 2 tables, accepted for publication in the Astrophysical Journa

Resolving Star Formation on Sub-Kiloparsec Scales in the High-Redshift Galaxy SDP.11 Using Gravitational Lensing

We investigate the properties of the interstellar medium, star formation, and the current-day stellar population in the strongly-lensed star-forming galaxy H-ATLAS J091043.1-000321 (SDP.11), at z = 1.7830, using new Herschel and ALMA observations of far-infrared fine-structure lines of carbon, oxygen and nitrogen. We report detections of the [O III] 52 um, [N III] 57 um, and [O I] 63 um lines from Herschel/PACS, and present high-resolution imaging of the [C II] 158 um line, and underlying continuum, using ALMA. We resolve the [C II] line emission into two spatially-offset Einstein rings, tracing the red- and blue-velocity components of the line, in the ALMA/Band-9 observations at 0.2" resolution. The values seen in the [C II]/FIR ratio map, as low as ~ 0.02% at the peak of the dust continuum, are similar to those of local ULIRGs, suggesting an intense starburst in this source. This is consistent with the high intrinsic FIR luminosity (~ 3 x 10^12 Lo), ~ 16 Myr gas depletion timescale, and < 8 Myr timescale since the last starburst episode, estimated from the hardness of the UV radiation field. By applying gravitational lensing models to the visibilities in the uv-plane, we find that the lensing magnification factor varies by a factor of two across SDP.11, affecting the observed line profiles. After correcting for the effects of differential lensing, a symmetric line profile is recovered, suggesting that the starburst present here may not be the result of a major merger, as is the case for local ULIRGs, but instead could be powered by star-formation activity spread across a 3-5 kpc rotating disk.Comment: 17 pages, 8 figures, 3 tables, accepted for publication in the Astrophysical Journa

Biocatalytic preparation and absolute configuration of enantiomerically pure fungistatic anti-2-benzylindane derivatives. Study of the detoxification mechanism by Botrytis cinerea

Enantiomerically pure 2-benzylindane derivatives were prepared using biocatalytic methods and their absolute configuration determined. (1R,2S)-2-Benzylindan-1-ol ((1R,2S)-2) and (S)-2-benzylindan-1-one ((S)-3) were produced by fermenting baker’s yeast. Lipase-mediated esterifications and hydrolysis of the corresponding racemic substrates gave rise to the enantiopure compounds (1S,2R)-2-benzylindan-1-ol ((1S,2R)-2) and (1R,2S)-2-benzylindan-1-ol ((1R,2S)-2), respectively. The antifungal activity of these products against two strains of the plant pathogen Botrytis cinerea was tested. The metabolism of anti-(±)-2-benzylindan-1-ol (anti-(±)-2) by B. cinerea as part of the fungal detoxification mechanism is also described and revealed interesting differences in the genome of both strains

Genome-wide transcriptional response of an avian pathogenic Escherichia coli (APEC) pst mutant

<p>Abstract</p> <p>Background</p> <p>Avian pathogenic <it>E</it>. <it>coli </it>(APEC) are associated with extraintestinal diseases in poultry. The <it>pstSCAB</it>-<it>phoU </it>operon belongs to the Pho regulon and encodes the phosphate specific transport (Pst) system. A functional Pst system is required for full virulence in APEC and other bacteria and contributes to resistance of APEC to serum, to cationic antimicrobial peptides and acid shock. The global mechanisms contributing to the attenuation and decreased resistance of the APEC <it>pst </it>mutant to environmental stresses have not been investigated at the transcriptional level. To determine the global effect of a <it>pst </it>mutation on gene expression, we compared the transcriptomes of APEC strain χ7122 and its isogenic <it>pst </it>mutant (K3) grown in phosphate-rich medium.</p> <p>Results</p> <p>Overall, 470 genes were differentially expressed by at least 1.5-fold. Interestingly, the <it>pst </it>mutant not only induced systems involved in phosphate acquisition and metabolism, despite phosphate availability, but also modulated stress response mechanisms. Indeed, transcriptional changes in genes associated with the general stress responses, including the oxidative stress response were among the major differences observed. Accordingly, the K3 strain was less resistant to reactive oxygen species (ROS) than the wild-type strain. In addition, the <it>pst </it>mutant demonstrated reduced expression of genes involved in lipopolysaccharide modifications and coding for cell surface components such as type 1 and F9 fimbriae. Phenotypic tests also established that the <it>pst </it>mutant was impaired in its capacity to produce type 1 fimbriae, as demonstrated by western blotting and agglutination of yeast cells, when compared to wild-type APEC strain χ7122.</p> <p>Conclusion</p> <p>Overall, our data elucidated the effects of a <it>pst </it>mutation on the transcriptional response, and further support the role of the Pho regulon as part of a complex network contributing to phosphate homeostasis, adaptive stress responses, and <it>E. coli </it>virulence.</p