310 research outputs found

    MECHANISMS FOR ADDRESSING THIRD-PARTY IMPACTS RESULTING FROM VOLUNTARY WATER TRANSFERS

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    This research uses laboratory experiments to test alternative water market institutions designed to protect third-party interests. The institutions tested include taxing mechanisms that raise revenue to compensate affected third-parties, and a free market in which third-parties actively participate. We also discuss the likely implications of a command-and-control approach in which there are fixed limits on the volume of water that may be exported from a region. The results indicate that there are some important trade-offs in selecting a policy option. Although theoretically optimal, active third-party participation in the market is likely to result in free-riding that may erode some or all of the efficiency gains, and may introduce volatility into the market. Fixed limits on water exports are likely to result in a more stable market, but the constraints on exports will result in lower levels of social welfare. Taxing transfers and compensating third-parties offers a promising balance of efficiency, equity and market stability.Resource /Energy Economics and Policy,

    An Experimental Examination of the Walrasian Tatonnement Mechanism

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    Joyce (1984) reports results of experiments of a Walrasian tatonnement auction that show that the mechanism is stable, exhibits strong convergence properties and generates efficiency averaging better than 97%. He also found that when subjects could see part of the order flow (excess demand), price tended to be lower (favorable to buyers). His experiments consisted of a stationary environment where subjects were provided with single-unit supply and demand functions. This paper assesses the robustness of his results in a more complex setting and systematically investigates the effect of various order flow information and message restriction rules on the performance of the Walrasian mechanism. In particular, our subjects were provided with multi-unit demands and supplies where equilibrium price and subject values or costs were changed each trading period

    Resource Adequacy: Should Regulators Worry?

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    Regulators have proposed various institutional alternatives to secure network resource adequacy and reasonably priced electric power for consumers. These alternatives prompt many difficult questions: Does the development of Demand Response reduce the need for new capacity? How effectively can a government-mandated Capacity Market foster efficient investment? How does centralized generator commitment (with revenue guarantees) compare to a system in which Generators voluntarily commit themselves with no revenue guarantees? If exclusive distribution contracts were replaced by unregulated retail competition, what would be the effects on investment and market prices? We use laboratory experiments to address these questions

    Using gene co-expression network analysis to predict biomarkers for chronic lymphocytic leukemia

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    <p>Abstract</p> <p>Background</p> <p>Chronic lymphocytic leukemia (CLL) is the most common adult leukemia. It is a highly heterogeneous disease, and can be divided roughly into indolent and progressive stages based on classic clinical markers. Immunoglobin heavy chain variable region (IgV<sub>H</sub>) mutational status was found to be associated with patient survival outcome, and biomarkers linked to the IgV<sub>H</sub> status has been a focus in the CLL prognosis research field. However, biomarkers highly correlated with IgV<sub>H</sub> mutational status which can accurately predict the survival outcome are yet to be discovered.</p> <p>Results</p> <p>In this paper, we investigate the use of gene co-expression network analysis to identify potential biomarkers for CLL. Specifically we focused on the co-expression network involving ZAP70, a well characterized biomarker for CLL. We selected 23 microarray datasets corresponding to multiple types of cancer from the Gene Expression Omnibus (GEO) and used the frequent network mining algorithm CODENSE to identify highly connected gene co-expression networks spanning the entire genome, then evaluated the genes in the co-expression network in which ZAP70 is involved. We then applied a set of feature selection methods to further select genes which are capable of predicting IgV<sub>H</sub> mutation status from the ZAP70 co-expression network.</p> <p>Conclusions</p> <p>We have identified a set of genes that are potential CLL prognostic biomarkers IL2RB, CD8A, CD247, LAG3 and KLRK1, which can predict CLL patient IgV<sub>H</sub> mutational status with high accuracies. Their prognostic capabilities were cross-validated by applying these biomarker candidates to classify patients into different outcome groups using a CLL microarray datasets with clinical information.</p
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