An Experimental Study of Information Revelation Policies in Sequential Auctions

Theoretical models of information asymmetry have identied a tradeoff between the desire to learn and the desire to prevent an opponent from learning private information. This paper reports a laboratory experiment that investigates if actual bidders account for this tradeoff, using a sequential procurement auction with private cost information and varying information revelation policies. Specically, the Complete Information Policy, where all submitted bids are revealed between auctions, is compared against the Incomplete Information Policy, where only the winning bid is revealed. The experimental results are largely consistent with the theoretical predictions. For example, bidders pool with other types to prevent an opponent from learning signicantly more often under a Complete Information Policy. Also as predicted, the procurer pays less when employing an Incomplete Information Policy only when the market is highly competitive. Bids are usually more aggressive than the risk neutral quantitative prediction, which is usually consistent with risk aversion.Complete and Incomplete Information Revelation Policies, Laboratory Study, Procurement Auction, Multistage Game

IMMUNOBIOLOGICALS

AbstractImmunobiologicals are the biologically active agents with immunological actions that are useful for the management  of immunologically mediated diseases of infectious or non-infectious origin.Keywords :Immunobiologicals,Epitope,Interferon,Monoclonal antibodies

Spacings around and order statistic

We determine the joint limiting distribution of adjacent spacings around a central, intermediate, or an extreme order statistic Xk:n of a random sample of size n from a continuous distribution F. For central and intermediate cases, normalized spacings in the left and right neighborhoods are asymptotically i.i.d. exponential random variables. The associated independent Poisson arrival processes are independent of Xk:n. For an extreme Xk:n, the asymptotic independence property of spacings fails for F in the domain of attraction of Fréchet and Weibull (α≠1) distributions. This work also provides additional insight into the limiting distribution for the number of observations around Xk:n for all three cases

STUDY ON DRUG UTILIZATION PATTERN OF CHRONIC RENAL FAILURE PATIENTS IN A TERTIARY CARE HOSPITAL

Objective: Chronic Renal Failure is a worldwide public health problem with an increasing incidence and prevalence, poor outcomes and high cost of treatment due to co-morbidities and Polypharmacy. The aim of this study was to describe drug utilization pattern of patients with chronic renal failure in a tertiary care hospital.Methods: The study was conducted between July -2013 to December-2013. In total 150 patients were identified and 135 patients were recruited for further study. Study subject medical record and prescription was reviewed on their regular hospital visit. Those were missed the followup, their medical records and prescription were reviewed from the medical record departmentResults: In this study, male subjects (62.85 %) predominated; 37.05% of the patients were in the age group of 51 to 60 years. The mean age of subjects was 53.26 ±15.69 years. The average number of drugs prescribed per prescription was 5.26 ± 3.79.Conclusion: The prevalence of Polypharmacy was high in patients with CRF. Diuretics, anti hypertensive and anti diabetic drugs were used more frequently in chronic renal failure patients. Moreover time to time studies are required to improve management strategy and quality of life of patients.Â

Power Loss Minimization in a Radial Distribution Network by Optimal Sizing and Placement of Energy Storage Units

It is possible to reduce distribution losses by strategically placing and sizing DG and BESS sources. Assuring low loss requires strategically placing the aforementioned devices; otherwise, the system may experience either under- or overvoltage. It is preferable to choose bus stations with less risk for loss. The proposed approach tries to pinpoint the optimal BESS size and placement to cut down on investment and operating expenses while still achieving the desired level of energy reduction. The development of optimisation algorithms for finding and scaling BESS units is the fundamental focus of this study. Two such strategies are being explored here: the Genetic Algorithm (GA) and the Ant Colony Optimization Algorithm (ACOA). The goal function, like the original issue, seeks to minimise system-wide power losses while adhering to specified levels of equality and inequality. This article explores the appropriate capacity and placement of the DGs in a 33-bus radial distribution grid to reduce power dissipations. Matlab code is used to perform a simulation, and the results are put to use gauging the method's sturdiness

A review of optimal operation of microgrids

The term microgrid refers to small-scale power grid that can operate autonomously or in concurrence with the area’s main electrical grid. The intermittent characteristic of DGs which defies the power quality and voltage manifests the requirement for new planning and operation approaches for microgrids. Consequently, conventional optimization methods in new power systems have been critically biased all through the previous decade. One of the main technological and inexpensive tools in this regard is the optimal generation scheduling of microgrid. As a primary optimization tool in the planning and operation fields, optimal operation has an undeniable part in the power system. This paper reviews and evaluates the optimal operation approaches mostly related to microgrids. In this work, the foremost optimal generation scheduling approaches are compared in terms of their objective functions, techniques and constraints. To conclude, a few fundamental challenges occurring from the latest optimal generation scheduling techniques in microgrids are addressed

On the Existence of Radiation Gauges in Petrov type II spacetimes

The radiation gauges used by Chrzanowski (his IRG/ORG) for metric reconstruction in the Kerr spacetime seem to be over-specified. Their specification consists of five conditions: four, which we treat here as valid gauge conditions, plus an additional condition on the trace of the metric perturbation. In this work, we utilize a newly developed form of the perturbed Einstein equations to establish a condition -- on a particular tetrad component of the stress-energy tensor -- under which the full IRG/ORG can be imposed. Using gauge freedom, we are able to impose the full IRG for Petrov type II and type D backgrounds, using a different tetrad for each case. As a specific example, we work through the process of imposing the IRG in a Schwarzschild background, using a more traditional approach. Implications for metric reconstruction using the Teukolsky curvature perturbations in type D spacetimes are briefly discussed.Comment: 21 pages, uses iop style files. v2: proved a stronger result for type II backgrounds, added a subsection on remaining gauge freedom in the full IRG and improved calrity and readability throughout due to insightful referee comments; published as Class. Quantum Grav. 24 (2007) 2367-238