First-price auctions with resale: the case of many bidders

We study first-price auctions with resale when there are many bidders and derive existence and characterization results under the assumption that the winner of the initial auction runs a second-price auction with an optimal reserve price. The fact that symmetrization fails when there are more than two bidders has been observed before, but we also provide the gt;directiongt;: weaker bidders are less likely to win than stronger ones. For a special class of distributions and three bidders, we prove that the bid distributions are more symmetric with resale than without. Numerical simulations suggest that the more bidders there are, the more similar the allocation is to the case without resale, and thus, the more asymmetric the bid distributions are between strong and weak bidders. We also show in an example that the revenue advantage of first-price auctions over second-price auctions is positive, but decreasing in the number of bidders.     

Commoditization in Food Retailing: Is Differentiation a Futile Strategy?

This article addresses commoditization in food retailing whereby competition has a tendency to lead to a continuous addition of new but similar products in a category. This often results in products that are more homogeneous and may make it more difficult for firms to gain unique market positions. In light of this development, we ask whether product differentiation is a futile strategy in food products marketing. We also address how consumers perceive and react to the seemingly ever-increasing number of similar products. These questions are explored through insights from relevant literature and a small-scale study of a seemingly highly differentiated category—smoked salmon—sold at the flagship store of an upmarket UK supermarket chain. It was concluded that no product attributes could be described as truly innovative, unique, or difficult to imitate. Implications are highlighted and discussed.     

贵州西部石漠化与土地保护

地处长江水系与珠江水系分水岭地带的贵州省西部,石漠化较严重。大多数石漠发生在正向岩溶地貌和落水洞、漏斗、峡谷陡坡上;在不易形成石漠的岩溶洼地、溶盆中,由于不合理工业取土诱发石漠化。岩溶石山上树木遭受毁灭以及陡坡地带盲目垦殖,加速了石漠化。在贵州容易形成石漠的自然背景下,违背自然的人文活动加剧石漠化发生和发展,导致山区土地资源逐渐枯竭。     

Hybrid Surveys: A Method for the Effective Use of Open-Ended Questions in Quantitative Food Choice Surveys

Surveys are based on predetermined questions (PDQs), used in hypothesis testing. To validate surveys, an open-ended question (OEQs), probing for additional factors, is sometimes added. This approach could become more efficient by combining PDQs with OEQs in hybrid surveys. This study surveyed Japanese consumers on seafood quality (gt;ngt;?=?200). It started with three OEQs, asking participants to list the most important factors when evaluating packed mackerel fillets, before they assessed 26 PDQs on importance of different quality dimensions for the same products. The OEQs were grouped based on the PDQs and the answers were counted. The PDQs were rated on 7-point importance scales. The real-life relevance of PDQs was challenged based on the frequency counts of OEQs. The result revealed that the color, overall freshness, and price issues are the most important factors consumers consider in real life. The use of hybrid surveys led to increased validity of this study.     

High profit equilibria in directed search models

We consider a model of directed search where the sellers are allowed to post mechanisms with entry fees. Regardless of the number of buyers and sellers, the sellers are able to extract all the surplus of the buyers by introducing entry fees and making price schedules positively sloped in the number of buyers arriving to their shops. This is in contrast to results that are achieved for large markets under the assumption that sellers cannot influence the utility of any particular buyer (market utility assumption), in which case buyers obtain strictly positive rents. If there is a bound on the prices or on the entry fees that can be charged, then the equilibrium with full rent extraction does not exist any more, and the market utility assumption is restored for large markets.     

DOMESTIC AND INTERNATIONAL INNOVATION PARTNERSHIPS: DO THEY MATTER FOR INNOVATION OUTCOMES OF SOUTH AFRICAN FIRMS?

This paper studies the impact of the diversity of domestic and international innovation partnerships on the innovation outcomes of South African firms. A number of competing hypotheses are formulated and tested empirically using a sample of South African firms in manufacturing and services by applying Ordinary Least Squares regression analyses. Results show that having an innovation partnership, particularly an international partnership, is beneficial to innovation outcomes. However, it also emerges that too diverse a set of international partnerships is detrimental to innovation outcomes. The paper concludes with a discussion and a number of proposals for future research.     

Efficiency and competition in the long run: The survival of the unfit

In a dynamic contest the current incumbent competes against a randomly assigned entrant in a private value all pay auction each period. We focus on equilibria where the beliefs about the incumbent's type and the employed strategies are stationary. We show that inefficient types survive, even if the entrants arrive very frequently, because the entrant plays more aggressively than the incumbent, allowing a low type entrant to win against a high type incumbent. In an example we show that if the incumbent is challenged more often, then the equilibrium type of the incumbent is higher on average. When the value of the prize is the same for all players (the case studied in the public choice literature), the equilibrium rent of the bidders is fully dissipated as the incumbent is challenged infinitely often. The technical contribution lies in showing the existence of stationary equilibrium in an incomplete information game.     

基子Web的网络数据库技术在物流信息系统中的应用

阐述了基于Web的网络数据库技术在物流信息系统中的应用，详细介绍了系统结构，网络数据库解决方案，系统设计，程序设计和网络数据库的运行等几个方面。     

Resolving distributional conflicts between generations

Summary. We describe a new approach to the problem of resolving distributional conflicts between an infinite and countable number of generations. We impose conditions on the social preferences that capture the following idea: If preference (or indifference) holds between truncated paths for infinitely many truncating times, then preference (or indifference) holds also between the untruncated infinite paths. In this framework we use such conditions to (1) characterize different versions of leximin and utilitarianism by means of equity conditions well-known from the finite setting, and (2) illustrate the problem of combining Strong Pareto and impartiality in an intergenerational setting.Received: 8 May 2002, Revised: 12 June 2003, JEL Classification Numbers: D63, Q01.gt;Correspondence togt;: Geir B. AsheimWe thank Kaushik Basu, Marc Fleurbaey, David Miller, Tapan Mitra, Lars-Gunnar Svensson, and an anonymous referee for helpful comments. Asheim gratefully acknowledges the hospitality of the Stanford University research initiative on gt;the Environment, the Economy and Sustainable Welfaregt;, and financial support from the Hewlett Foundation through this research initiative.