scholarly journals Improved Revenue Bounds for Posted-Price and Second-Price Mechanisms

2021 ◽  
Author(s):  
Hedyeh Beyhaghi ◽  
Negin Golrezaei ◽  
Renato Paes Leme ◽  
Martin Pál ◽  
Balasubramanian Sivan
Keyword(s):  
The Other ◽  
Uniform Price ◽  
Optimal Mechanism ◽  
Pricing Rules ◽  
Multiple Units ◽  
Posted Price

How to optimize posted price mechanisms? The sequential posted-price (SPP) mechanism is one of the widely used selling mechanisms in practice. In this mechanism, the seller presents each buyer with a price sequentially and the buyer can either accept or reject the mechanism's offer. Despite the widespread use of the SPP mechanism, the problem of optimizing prices in this mechanism has not been fully addressed. In a paper entitled, “Improved Revenue Bounds for Posted-Price and Second-Price Mechanisms,” H. Beyhaghi, N. Golrezaei, R. Paes Leme, M. Pal, and B. Sivan construct SPP mechanisms by considering the best of two simple pricing rules: one that imitates the optimal mechanism and the other that posts a uniform price (same price for every buyer). Their simple pricing rules can be easily generalized to the setting with multiple units and yield the first improvement over long-established approximation factors.

scholarly journals Effects of Differential Tax Rates on Transfer Pricing

1996 ◽  
Vol 11 (2) ◽  
pp. 183-196 ◽  
Author(s):  
Shu-hsing Li ◽  
Kashi R. Balachandran
Keyword(s):  
Internal Control ◽  
Transfer Pricing ◽  
Closed Form Solution ◽  
Form Solution ◽  
Price System ◽  
The Other ◽  
Tax Rates ◽  
Tax Rate ◽  
Optimal Mechanism ◽  
Pricing System

The purpose of this paper is to study transfer pricing under asymmetric information and taxation. In accordance with the empirical evidence documented in accounting literature, this paper assumes that the firm uses one pricing system instead of two pricing systems—one for the tax purposes and the other for internal control. We provide a closed-form solution for the optimal mechanism under a dual-price system, which allows for the price credited to the manufacturing division to not equal the price charged to the distribution division. The equilibrium outcomes of the analysis suggest several interesting findings. Under a dual-price system, both divisional accounting profits at equilibrium change in the same direction with respect to the change of tax rate. However, the direct effect is larger than the indirect effect. Under a dual-price system, the division with the lower tax rate should be credited more profits than the division with the higher tax rate, but it would not fully bear all the profits.

System Design of Comparison of Diesel Multiple Units (DMUs) Wearing Oil Ferrographic Analysis and Spectrometric Analysis

2011 ◽  
Vol 396-398 ◽  
pp. 2256-2259
Author(s):  
Bao Hui Wang ◽  
Chong Zhuo Wang
Keyword(s):  
Diesel Engine ◽  
System Design ◽  
The Other ◽  
Spectrometric Analysis ◽  
Objective Condition ◽  
Spectrometry Analysis ◽  
The Difference ◽  
Multiple Units ◽  
Comprehensive Processing

Though the motor car I or motor car II of the diesel multiple units （DMUs） has the same objective condition, the difference of the wearing oil, particularly the condition of the calculator software comprehensive processing is a new topic that we should pay attention to. In this article, we have done with the values of ferrographic analysis and spectrometry analysis of motor car I and motor car II of the“New Dawn ’’DMUs ,for example, with the help of the Delphi 7 software and gotten homologous curve diagram at the same condition. We can evaluate the wear degree of diesel engine of the motor car I or motor car II of the DMUs and have a new way to deal with the wearing of the electric multiple units as well as the other types of the DMUs according to the characteristics of ferrographic analysis and spectrometric analysis of the motor cars.

scholarly journals Rolling Stock Manufacturers and New Rail Vehicles in Poland

2021 ◽  
Vol 65 (192) ◽  
pp. 121-152
Author(s):  
Marek Graff
Keyword(s):  
Production Process ◽  
The Other ◽  
Rolling Stock ◽  
Rail Vehicles ◽  
Other Hand ◽  
Multiple Units

Ten rolling stock manufacturers were operating in Poland in 2020. These were both domestic enterprises (Pesa, Newag) as well as branches of foreign concerns (Siemens, Bombardier, Alstom, Stadler). A similar division can be deemed conventional since the aforementioned enterprises employ mostly Polish specialists or managers – and work with Polish subcontractors. On the other hand, Polish manufacturers use mainly imported components in the production process. The range of the currently manufactured rolling stock is quite wide – from multiple units to locomotives with electric and diesel drives, adapted to run on both standard and broad gauge tracks. Polish plants also manufacture underground train-sets, mostly for export. New rolling stock orders placed by operators are carried out with the support of EU funding programmes. Keywords: rolling stock manufacturers, Poland, PKP

scholarly journals Countering the winner's curse: Optimal auction design in a common value model

2020 ◽  
Vol 15 (4) ◽  
pp. 1399-1434
Author(s):  
Dirk Bergemann ◽  
Benjamin Brooks ◽  
Stephen Morris
Keyword(s):  
Expected Value ◽  
Winner's Curse ◽  
English Auctions ◽  
Auction Design ◽  
Winner’S Curse ◽  
Common Value ◽  
Optimal Mechanism ◽  
Optimal Auction ◽  
Value Model ◽  
Posted Price

We characterize revenue maximizing mechanisms in a common value environment where the value of the object is equal to the highest of the bidders' independent signals. If the revenue maximizing solution is to sell the object with probability 1, then an optimal mechanism is simply a posted price, namely, the highest price such that every type of every bidder is willing to buy the object. If the object is optimally sold with probability less than 1, then optimal mechanisms skew the allocation toward bidders with lower signals. The resulting allocation induces a “winner's blessing,” whereby the expected value conditional on winning is higher than the unconditional expectation. By contrast, standard auctions that allocate to the bidder with the highest signal (e.g., the first‐price, second‐price, or English auctions) deliver lower revenue because of the winner's curse generated by the allocation. Our qualitative results extend to more general common value environments with a strong winner's curse.

scholarly journals Limits of development and status of co-operation in Serbia

2005 ◽  
Vol 48 (1-2) ◽  
pp. 71-79
Author(s):  
Danica Drakulic
Keyword(s):  
Economic Development ◽  
Market Mechanism ◽  
The Other ◽  
Competition And Cooperation ◽  
The Third ◽  
Optimal Mechanism ◽  
Dynamic Character ◽  
The World ◽  
Competitive Economy

The work deals with competition and cooperation as mutually conditioned and complementary, with the framework of the most important changes in the world. It also emphasizes their strategic and dynamic character. In contemporary conditions, the economy functions with the possibilities of choices of some kinds of regulative mechanisms. One is market mechanism, the other one is the willing cooperation, the third is of the administrative-hierarchical character. In the situation when the other mechanisms are unacceptable or insufficient efficient, cooperation is considered to be an optimal mechanism both in developmental and cultural sense. Cooperation should provide a contribution to the economic development, with a view of building a competitive economy and competent institutional segment.

scholarly journals U.S. Taxation Of The Value Of Executive Services Performed For Multinational Joint Ventures

2012 ◽  
Vol 11 (11) ◽  
pp. 1191
Author(s):  
Martin A. Goldberg ◽  
Robert E. Wnek ◽  
Jacqueline S. Pineau
Keyword(s):  
Joint Ventures ◽  
Joint Venture ◽  
Transfer Pricing ◽  
The Other ◽  
Pricing Rules ◽  
Foreign Affiliates ◽  
Contractual Rights

Domestic U. S. businesses forming a joint venture with a commonly-controlled foreign affiliates need always to take into account transfer pricing rules, whereby any income, deductions, or credits or one may be reallocated from one of the businesses to the other. This problem provides special concerns with regards to compensation for executive services, where calculation of an arms length amount is more difficult, and where other contractual rights may have an impact on the determination of the arms length amount. The concept of transfer pricing rules with regard to services was first addressed in 1968 regulations, after which there were temporary regulations in 2003 that were finalized in 2009. However, there are still many issues that have not been addressed, that will need to be resolved in a future set of regulations.

Stromatoporoids from the Famennian (Devonian) Wabamun Formation, Normandville oilfield, north–central Alberta, Canada

1988 ◽  
Vol 62 (03) ◽  
pp. 411-419 ◽  
Author(s):  
Colin W. Stearn
Keyword(s):  
Patch Reef ◽  
Abundant Species ◽  
The Other ◽  
North Central ◽  
Biotic Crisis

Stromatoporoids are the principal framebuilding organisms in the patch reef that is part of the reservoir of the Normandville field. The reef is 10 m thick and 1.5 km2in area and demonstrates that stromatoporoids retained their ability to build reefal edifices into Famennian time despite the biotic crisis at the close of Frasnian time. The fauna is dominated by labechiids but includes three non-labechiid species. The most abundant species isStylostroma sinense(Dong) butLabechia palliseriStearn is also common. Both these species are highly variable and are described in terms of multiple phases that occur in a single skeleton. The other species described areClathrostromacf.C. jukkenseYavorsky,Gerronostromasp. (a columnar species), andStromatoporasp. The fauna belongs in Famennian/Strunian assemblage 2 as defined by Stearn et al. (1988).

D. The Line Spectrum of Pulsating Variable Stars

1967 ◽  
Vol 28 ◽  
pp. 207-244
Author(s):  
R. P. Kraft
Keyword(s):  
Variable Stars ◽  
The Other ◽  
Line Spectrum ◽  
Afternoon Session ◽  
Empirical Information ◽  
Pulsating Variable Stars ◽  
Almost Continuous ◽  
Informal Approach

(Ed. note:Encouraged by the success of the more informal approach in Christy's presentation, we tried an even more extreme experiment in this session, I-D. In essence, Kraft held the floor continuously all morning, and for the hour and a half afternoon session, serving as a combined Summary-Introductory speaker and a marathon-moderator of a running discussion on the line spectrum of cepheids. There was almost continuous interruption of his presentation; and most points raised from the floor were followed through in detail, no matter how digressive to the main presentation. This approach turned out to be much too extreme. It is wearing on the speaker, and the other members of the symposium feel more like an audience and less like participants in a dissective discussion. Because Kraft presented a compendious collection of empirical information, and, based on it, an exceedingly novel series of suggestions on the cepheid problem, these defects were probably aggravated by the first and alleviated by the second. I am much indebted to Kraft for working with me on a preliminary editing, to try to delete the side-excursions and to retain coherence about the main points. As usual, however, all responsibility for defects in final editing is wholly my own.)

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