Liquidity constraints and credit subsidies in auctions

I consider an auction with participants that differ in valuation and access to liquid assets. Assuming credit is costly (e.g. due to moral hazard considerations) different auction rules establish different ways of screening valuation-liquidity pairs. The paper shows that standard auction forms result in different allocation rules. When the seller can deny access to capital markets or offer credit subsidies, she gains an additional tool to screen agents. The paper derives conditions under which the seller increases profits by way of subsidizing loans. In particular, in a second price auction, the seller always benefits from offering small subsidies. The result extends to a non-auction setting to show that a monopolist may use credit subsidies as a price discrimination device

Obtaining Au thin films in atmosphere of reactive nitrogen through magnetron sputtering

4d and 5d series of the transition metals are used to the obtaining nitrides metallic, due to the synthesis of PtN, AgN and AuN in the last years. Different nitrides are obtained in the Plasma Assisted Physics Vapour Deposition system, due to its ionization energy which is necessary for their formation. In this paper a Magnetron Sputtering system was used to obtain Au thin films on Si wafers in Nitrogen atmosphere. The substrate temperature was varied between 500 to 950°C. The samples obtained at high temperatures (>500°C) show Au, Si and N elements, as it is corroborated in the narrow spectrum obtained for X-Ray Photoelectron Spectroscopy; besides the competition of orientation crystallographic texture between (111) and (311) directions was present in the X-Ray Diffraction analysis to the sample heated at 950°C

Anomalies of ac driven solitary waves with internal modes: Nonparametric resonances induced by parametric forces

We study the dynamics of kinks in the $\phi^4$ model subjected to a parametric ac force, both with and without damping, as a paradigm of solitary waves with internal modes. By using a collective coordinate approach, we find that the parametric force has a non-parametric effect on the kink motion. Specifically, we find that the internal mode leads to a resonance for frequencies of the parametric driving close to its own frequency, in which case the energy of the system grows as well as the width of the kink. These predictions of the collective coordinate theory are verified by numerical simulations of the full partial differential equation. We finally compare this kind of resonance with that obtained for non-parametric ac forces and conclude that the effect of ac drivings on solitary waves with internal modes is exactly the opposite of their character in the partial differential equation.Comment: To appear in Phys Rev