Competitive equilibrium and the double auction

In this paper, we revisit the common claim that double auctions necessarily generate competitive equilibria. We begin by observing that competitive equilibrium has some counterintuitive implications: specifically, it predicts that monotone shifts in the value distribution can leave prices unchanged. Using experiments, we then test whether these implications are borne out by the data. We find that in double auctions with stationary value distributions, the resulting prices can be far from competitive equilibria. We also show that the effectiveness of our counterexamples is blunted when traders can leave without replacement as time progresses. Taken together, these findings suggest that the `Marshallian path' is crucial for generating equilibrium prices in double auctions

A look at the orthographic challenges of Afghanistan's Uzbek language

The Uzbek language belongs to the eastern branch of Turkic languages. Turkic languages are part of the Ural-Altaic language family. The history of orthography and ancient literature of the Uzbek language goes back to the 'Orkhon Yinisey' stone in orthography ions. These petroglyphs were obtained from the beach of the Orkhon Seas in Mangolia, Yenisey (Anasay-Mother valley) in southern Siberia, Talas in Kyrgyzstan, and other areas such as Eastern Turkistan, Central Asia, Caucasus, Volga beach and parts of Europe area. These historical sites contain Turkish-Ronics writings. In the stone in orthography ions of 'Orkhon Yinisey', some of which include eulogies and hymns describing Turkish kings, are carved on the tombstones of Turkish kings and princes. The orthography of the Uzbek language of Uzbekistan has always changed from the previous state. However, the Uzbek orthography in Afghanistan has never changed since the 12th century until now; they use the Arabic-Uzbek orthography. In this research, library resources are used

Synthesis of pyrrolidine-based hamamelitannin analogues as quorum sensing inhibitors in Staphylococcus aureus

Interfering with bacterial cell-to-cell communication is a promising strategy to combat antimicrobial resistance. The natural product hamamelitannin and several of its analogues have been identified as quorum sensing inhibitors. In this paper the synthesis of pyrrolidine-based analogues of a more lead-like hamamelitannin analogue is reported. A convergent synthetic route based on a key ring-closing metathesis reaction was developed and delivered the pyrrolidine analogue in 17 steps in high yield. Chemoselective derivatization of the pyrrolidine nitrogen atom resulted in 6 more compounds. The synthesized compounds were evaluated in a biofilm model, but were all inactive

Water Governance in Afghanistan

Ensuring long term water security is the essential pathway towards development, prosperity, and stability in Afghanistan. However, the country is faced with water challenges that can be ascribed to governance failure at multiple levels of governance rather than to the resource base itself. Hence, studying the water governance system in Afghanistan is crucial, and assessment of the existing system is the first step. To date, there has been no systematic study to benchmark and diagnoses the strengths and weaknesses of the existing water governance system. The current study addressed this gap by analyzing and assessing water governance in Afghanistan qualitatively and quantitively at multiple levels, using the OECD water governance principles and indicators framework. The thesis answered to the following questions: 1- How can the analysis of a developing country contribute to further developing the OECD water governance indicators framework? 2- How is the performance of the Afghanistan water governance system against OECD water governance principles? 3- What are the strengths and weaknesses of the Afghanistan water governance system? The OECD water governance principles and indicators framework applied well in the Afghanistan context and provided a holistic and better analytical framework for the study. Qualitatively using existing literature and semi-structured interviews, the OECD water governance principles well captured the strengths and weaknesses of the existing water governance system at multiple levels of governance. The analyses showed that the existing water governance system in Afghanistan is weakly functioning against all the twelve OECD water governance principles. Similarly, quantitively using surveys, the OECD indicators framework well benchmarked the robustness of the existing governance system. The quantitative assessment also confirmed that the existing water governance system is poorly functioning against OECD principles. The system is suffering from either shortage or weak implementation and functioning of water governance frameworks, institutions, and mechanisms. Most of the indicators either do not exist or not implemented in the current water governance system. None of the 36 indicators are fully functioning