Low price equilibrium in multi-unit auctions: the GSM spectrum auction in Germany

The second–generation (GSM) spectrum auction in Germany is probably the most clear cut example of a low price outcome in a simultaneous ascending-bid multi-unit auction. The present paper gives an account of the events, describes the auction rules and market conditions, and provides a game theoretic explanation of low price equilibrium in simultaneous, ascending-bid multi-unit auctions. In particular, it is shown that in the unique equilibrium that survives iterated elimination of dominated strategies, the efficient allocation is reached at minimum bids.     

In the Eye of the Beholder: An Exploration of Managerial Courage

There is growing interest in the positive organizational literature in the complex interplay between the positive and negative facets of organizations, individuals, and situations. The concept of courage provides fertile ground to study this interplay, since it is generally understood to be a positive quality that is manifested in challenging situations. The empirical study presented here looks at courage in a strategic decision-making context and takes an interpretive perspective; it focuses on the cognitive structures and subjective understandings of managers and administrators involved in merger projects as a way to understand the dynamics surrounding managerial courage. Our study makes several contributions: it shows that managers consider courage to have a moral dimension, e.g., to be a positive and ethical response to a risky or difficult situation in which there is an interplay between organizational and personal interests; it identifies two kinds of managerial moral courage; it proposes a conceptual model with which to understand how evaluations of what is courageous and what is not are made; and finally, it offers four schemas developed from the data that add to our understanding of moral courage in management.     

Helfen Darmhormone bei Diabetes?

Neue Behandlungsm?glichkeiten des Diabetes-Typ-2 - Weltweit ist eine Zunahme der Erkrankungsh?ufigkeit bei Diabetes mellitus zu beobachten. Nach Angaben der International Diabetes Federation (IDF) sind aktuell circa 285 Millionen Menschen betroffen. Hochrechnungen gehen davon aus, dass sich diese Zahl bis zum Jahr 2030 auf 439 Millionen Menschen erh?hen wird.     

Smart Meter-Angebote: Eine empirische Untersuchung von Kundenpräferenzen

The implementation of smart meters in German households by 2032 is a major step in the transition towards an intelligent and connected energy system. Despite of federal legislation providing a structured plan for the nationwide smart meter rollout including basic product requirements, actors within the energy market have the opportunity to take an active part in shaping the market through appealing product offers and hence to create competitive advantage. This study identifies relevant features of smart meters from literature und business practice, and measures customer’s preferences for these features. Results indicate predominantly positive customer evaluations of smart meter features, amongst which the availability of consumption data, the installation price and rental charges as well as time variable tariffs contribute most to overall utility of smart meters. Finally, findings suggest targeting customers by defining strategies to address privacy concerns, to educate about saving potentials as well as to create differentiated pricing schemes.     

Patientenschulung nicht vergessen!

Akut dekompensierte Herzinsuffizienz - Rund zwei Millionen Menschen in Deutschland leiden an einer Herzinsuffizienz. Vor allem Dekompensationen des Krankheitsbildes gef?hrden die Patienten und führen zu wiederholten Krankenhauseinweisungen. Ursache: Oft falsche Medikamenteneinnahme oder die mangelnde Umsetzung von Verhaltensrestriktionen. Pflegekr?fte müssen bei ihrer Arbeit daher verst?rkt auf Aspekte der Patientenedukation setzen.     

Preliminary Evidence for the Neurophysiologic Effects of Online Coupons: Changes in Oxytocin,Stress, and Mood

Coupon use saved consumers $2.9 billion on packaged goods in 2012 with over 90 million Americans using online coupons. Besides saving money, why is coupon use so widespread? An experiment was run where participants (N = 90) shopped online and one‐half received a coupon worth $10. It was found that those who received a coupon had a 14% increase in oxytocin (OT), an 8% decrease in the stress hormone adrenocorticotropin, a 4% decrease in heart rate (HR), a 27% decrease in respiration, a 4% decrease in skin conductance levels, and a 90% increase in high‐frequency HR variability. These factors showed almost no change for those who did not receive a coupon. The findings indicate that coupons elicit physiological reactions similar to having a positive social interaction. In addition, self‐reported happiness correlated with the change in OT (r = 0.43). These findings provide new insights into why online coupon use is so pervasive.     

Sequential versus Bundle Auctions for Recurring Procurement

We compare sequential and bundle procurement auctions in a framework of successive procurement situations, where current success positively or negatively affects future market opportunities. We find that in bundle auctions procurement cost is lower and less risky than in sequential standard auctions, but still higher than in the optimal sequential auction. Only a sequential second price auction leads to the efficient outcome.