Signal-Jamming in a Sequential Auction

In a recurring auction early bids may reveal bidders’ types, which in turn affects bidding in later auctions. Bidders take this into account and may bid in a way that conceals their private information until the last auction is played. The present paper analyzes the equilibrium of a sequence of ?rst-price auctions assuming bidders have stable private values. We show that signal-jamming occurs and explore the dynamics of equilibrium prices

Myeloperoxidase to Risk Stratify Emergency Department Patients with Chest Pain

Previous studies suggest that serum myeloperoxidase (MPO) is a potentially useful biomarker to risk stratify troponin-negative patients with suspected myocardial ischemia. We hypothesized that the relationship between initial serum MPO levels would correlate with 30-day adverse cardiac outcomes for low risk emergency department (ED) patients with suspected myocardial ischemia. This prospective cohort study enrolled ED patients with chest pain or suspected myocardial ischemia, non-diagnostic ECG, and initially negative cardiac troponin I. We defined 30-day adverse cardiac events as death, myocardial infarction, or coronary revascularization. We calculated summary statistics, standard deviation (SD), odds ratios (OR), 95% confidence intervals (CI), and receiver operating characteristics (ROC). We enrolled 159 patients who had a mean age of 55 ± 13, were 56% female, of whom 5.2% suffered at least one adverse cardiac event. MPO test characteristics were poor, with an ROC area of only 0.47 (CI 0.23-0.71). MPO levels were not associated with adverse events (OR 0.99, CI 0.98-1.01, p=0.62). The optimal ROC cutpoint to predict adverse cardiac events had poor sensitivity and specificity (57% and 52%, respectively). Mean MPO concentrations in the event group did not differ from the non-event group. In this limited cohort of low risk ED patients with chest pain, we were unable to demonstrate utility of MPO for risk stratification. If confirmed in larger studies, these findings may call into question the routine use of MPO for low-risk chest pain

License prices for financially constrained firms

It is often alleged that high auction prices inhibit service deployment. We investigate this claim under the extreme case of financially constrained bidders. If demand is just slightly elastic, auctions maximize consumer surplus if consumer surplus is a convex function of quantity (a common assumption), or if consumer surplus is concave and the proportion of expenditure spent on deployment is greater than one over the elasticity of demand. The latter condition appears to be true for most of the large telecom auctions in the US and Europe. Thus, even if high auction prices inhibit service deployment, auctions appear to be optimal from the consumers’ point of view

Quick abnormal-bid-detection method for construction contract auctions

Noncompetitive bids have recently become a major concern in both public and private sector construction contract auctions. Consequently, several models have been developed to help identify bidders potentially involved in collusive practices. However, most of these models require complex calculations and extensive information that is difficult to obtain. The aim of this paper is to utilize recent developments for detecting abnormal bids in capped auctions (auctions with an upper bid limit set by the auctioner) and extend them to the more conventional uncapped auctions (where no such limits are set). To accomplish this, a new method is developed for estimating the values of bid distribution supports by using the solution to what has become known as the German Tank problem. The model is then demonstrated and tested on a sample of real construction bid data, and shown to detect cover bids with high accuracy. This paper contributes to an improved understanding of abnormal bid behavior as an aid to detecting and monitoring potential collusive bid practices

Shallow Flaws Under Biaxial Loading Conditions, Part II: Application of a Weibull Stress Analysis of the Cruciform Bend Specimen Using a Hydrostatic Stress Criterion

Cruciform beam fracture mechanics specimensl have been developed in the Heavy Section Steel Technology (HSST) Program at Oak Ridge National Laboratory (ORNL) to introduce a prototypic, far- field, out-of-plane biaxird bending stress component in the test section that approximates the nonlinear biaxial stresses resulting from pressurized-thernxd-shock or pressure-temperature loading of a nuclear reactor pressure vessel (RPV). Matrices of cruciform beam tests were developed to investigate and quantify the effects of temperature, biaxial loading, and specimen size on fracture initiation toughness of two-dimensional (constant depth), shtdlow, surface flaws. Tests were conducted under biaxial load ratios ranging from uniaxial to equibiaxial. These tests demonstrated that biaxial loading can have a pronounced effect on shallow-flaw fracture toughness in the lower transition temperature region for RPV materials. Two and three- parameter Weibull models have been calibrated using a new scheme (developed at the University of Illinois) that maps toughness data from test specimens with distinctly different levels of crack-tip constraint to a small scale yielding (SSY) Weibull stress space. These models, using the new hydrostatic stress criterion in place of the more commonly used maximum principal stress in the kernel of the OW integral definition, have been shown to correlate the experimentally observed biaxiaI effect in cruciform specimens, thereby providing a scaling mechanism between uniaxial and biaxial loading states

Social Media Technologies' Use for the Competitive Information and Knowledge Sharing, and Its Effects on Industrial SMEs' Innovation

The effective use of technologies supporting decision making is essential to companies? survival. Recent studies analyzed social media technologies (SMT) in the context of small- and medium-sized enterprises (SMEs), contributing to the discussion on SMT benefits from the marketing perspective. This article focuses on the effects of SMT use on innovation. Our findings provide empirical evidence on the positive effects of SMT use for acquiring external information and for sharing knowledge and innovation performance

A model to assess the technological level of small businesses

none2In this paper we present a three-dimensional framework (named Cu- be of Corporate Technological Level – CCTL) to evaluate the technological po- sition of small enterprises from different points of view. This framework has been developed from existing tools with similar goals, already proposed by oth- er authors. Compared to existing ones, this framework differs primarily for the inclusion of a collaborative perspective. It reflects the distinctive features of the latest interactive and web 2.0 tools (chat, blogs, forums, ...), that allow compa- nies to manage their relationships with the external stakeholders of the supply chain. The proposed framework has been applied to a sample of small business- es to test its validity. Some business cases with different positions in the Cube are described.This paper is the joint effort of the authors. Francesca Maria Cesaroni developed sections 1, 2 and 5 and Domenico Consoli sections 3 and 4.openF.M.Cesaroni; D.ConsoliCesaroni, FRANCESCA MARIA; D., Consol

The history, evolution, and future of big data & analytics:A bibliometric analysis of its relationship to performance in organizations

Big data and analytics (BDA) are gaining momentum, particularly in the practitioner world. Research linking BDA to improved organizational performance seems scarce and widely dispersed though, with the majority focused on specific domains and/or macro-level relationships. In order to synthesize past research and advance knowledge of the potential organizational value of BDA, the authors obtained a data set of 327 primary studies and 1252 secondary cited papers. This paper reviews this body of research, using three bibliometric methods. First, it elucidates its intellectual foundations via co-citation analysis. Second, it visualizes the historical evolution of BDA and performance research and its substreams through algorithmic historiography. Third, it provides insights into the field's potential evolution via bibliographic coupling. The results reveal that the academic attention for the BDA-performance link has been increasing rapidly. The study uncovered ten research clusters that form the field's foundation. While research seems to have evolved following two main, isolated streams, the past decade has witnessed more cross-disciplinary collaborations. Moreover, the study identified several research topics undergoing focused development, including financial and customer risk management, text mining and evolutionary algorithms. The review concludes with a discussion of the implications for different functional management domains and the gaps for both research and practice.</p