Modeling On-Line Art Auction Dynamics Using Functional Data Analysis

In this paper, we examine the price dynamics of on-line art auctions of modern Indian art using functional data analysis. The purpose here is not just to understand what determines the final prices of art objects, but also the price movement during the entire auction. We identify several factors, such as artist characteristics (established or emerging artist; prior sales history), art characteristics (size; painting medium--canvas or paper), competition characteristics (current number of bidders; current number of bids) and auction design characteristics (opening bid; position of the lot in the auction), that explain the dynamics of price movement in an on-line art auction. We find that the effects on price vary over the duration of the auction, with some of these effects being stronger at the beginning of the auction (such as the opening bid and historical prices realized). In some cases, the rate of change in prices (velocity) increases at the end of the auction (for canvas paintings and paintings by established artists). Our analysis suggests that the opening bid is positively related to on-line auction price levels of art at the beginning of the auction, but its effect declines toward the end of the auction. The order in which the lots appear in an art auction is negatively related to the current price level, with this relationship decreasing toward the end of the auction. This implies that lots that appear earlier have higher current prices during the early part of the auction, but that effect diminishes by the end of the auction. Established artists show a positive relationship with the price level at the beginning of the auction. Reputation or popularity of the artists and their investment potential as assessed by previous history of sales are positively related to the price levels at the beginning of the auction. The medium (canvas or paper) of the painting does not show any relationship with art auction price levels, but the size of the painting is negatively related to the current price during the early part of the auction. Important implications for auction design are drawn from the analysis.Comment: Published at http://dx.doi.org/10.1214/088342306000000196 in the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Simulation of a high voltage gain dc-dc converter integrating with coupled inductor and two voltage multiplier cells

In this paper, a high voltage gain dc-dc converter is presented for renewable energy applications. This paper develops step up converter which consists of two voltage multiplier cells with coupled inductor in order to achieve the multiple voltage requirements with high voltage gain. And also two capacitances are provided for charging when the device is under turned-off condition, by utilizing the stored energy levels in the coupled inductor which can enhances the voltage transfer capability levels of the system The voltage imbalance levels are compensated at main power switch. The implemented model operates with low resistance RDS(ON) at main power switch which can reduce the switching losses. The developed simulink models are tested and verified within the MATLAB/SIMULINK with multiple output functions with high voltage gains

MIR talks to Vinita Bali, Managing Director and CEO of Britannia Industries

Abstract Today we live in a truly global economy, no matter whether we talk about goods, services or manpower. Whereas economic growth rates in Europe and North America remain moderate, many Asian countries are booming despite last year´s economic downturn. This is reason enough for MIR to take a closer look at one of the rising stars: India. In June 2010, MIR talked to Vinita Bali, one of the few female CEOs of leading companies, who has worked in influential marketing positions on five continents. In describing how Britannia, one of the most famous Indian brands, handles everyday business and marketing challenges, she delivers a bright picture of the Indian economic situation </jats:p

Soil and Water Conservation Works through National Rural Employment Guarantee Scheme (NREGS) in Andhra Pradesh — An Analysis of Livelihood Impact

The impact of National Rural Employment Guarantee Scheme (NREGS) has been studied on rural livelihoods and the nature of soil and water conservation (SWC) works. NREGS is under implementation in almost all the rural districts of the country with the major objective of enhancing livelihoods through productive works. Rajasthan, Andhra Pradesh and Madhya Pradesh are the three states leading in scheme implementation with a large number of works, expenditure and employment. In Andhra Pradesh, soil and water conservation (SWC) works have accounted for over 80 per cent. The share of labour wages under the scheme has been 80 per cent with only 20 per cent for material, which is well within the prescribed norm of 40 per cent for the latter. The field study in the Ananthapur district has indicated that almost two-thirds of the beneficiaries are farmers. The scheme has brought down the migration levels from about 27 per cent to only 7 per cent in the study villages. The linear regression function has brought out that the number of family members participating in the NREGS is significantly influenced by income from other sources, family size and landholding. The NREGS earnings are being used mainly for food, education and health security. Although the scheme provides opportunity for 100 days of wage guarantee, the actual average employment is only for 25 days per household. Ideally, this gap needs to be bridged at least in the distress districts. The study has observed that SWC works in agricultural lands, especially in the rainfed areas need to be continued. However, some works require structural modifications for a better impact.Agricultural and Food Policy,

An Optimal Harvesting Strategy of a Three Species Syn-ecosystem with Commensalism and Stochasticity

In this paper we have studied the stability of three typical species syn-ecosystem. The system comprises of one commensal S1 and two hosts S2 and S3 . Both S2 and S2 benefit S1 without getting themselves affected either positively or adversely. Further S2 is a commensal of S3 and S3 is a host of both S1 and S2. Limited resources have been considered for all the three species in this case. The model equations of the system constitute a set of three first order non-linear ordinary differential equations. The possible equilibrium points of the model are identified. We have also studied the local and global stabilities. We have analyzed the bionomic equilibrium and optimal harvesting strategy using Pontryagin’s maximum principle. We have investigated the inhabitant intensities of the fluctuations (variances) around the positive equilibrium due to noise and have investigated the stability. We have also checked the MATLAB numerical simulations for stability of the system

Effect of Viscous Dissipation, Soret and Dufour Effect on Free Convection Heat and Mass Transfer from Vertical Surface in a Porous Medium

AbstractIn the present approach, a two dimensional steady free convection flow of heat and mass transfer from a vertical surface in porous media with viscous dissipation has been analyzed numerically considering Soret and Dufour effects. The governing non linear partial differential equations have been transformed by a similar transformation in to a system of ordinary differential equations, which are solved numerically by using implicit finite difference scheme. The dimensionless velocity, temperature and concentration profiles are displayed graphically showing the effects for the different values of the Lewis number, soret number and viscous dissipation parameter