Search results for "auction"
showing 10 items of 40 documents
Impact of the information provided to consumers on their willingness to pay for Champagne : comparison with hedonic scores
2002
International audience; L'étude a été effectuée afin de comparer deux mécanismes destinés à révéler les préférences des consommateurs : une enchère Vickrey qui mesure la disposition à payer, et un test hédonique classique. A travers ces deux méthodes, l'objectif était d'estimer les effets respectifs des caractéristiques sensorielles et de l'information externe sur l'évaluation de cinq champagnes brut non millésimés. Cent-ving-trois consommateurs ont été assignés au hasard aux deux groupes et ont utilisé l'une des méthodes. Quelle que soit la méthode, ils ont évalué les champagnes à l'aveugle, puis sur la base d'une présentation des bouteilles et, enfin, après l'observation de la bouteille e…
Liquidación de la sociedad de gananciales: el caso de la adjudicación forzosa de participaciones sociales de carácter ganancial a un solo cónyuge. Co…
2021
In a liquidation of community property, the rules for the partition of the inheritance are of suppletive application. Therefore, the sentence opts for a criterion of flexible interpretation of those rules, whose application will be subject to the objective entity of the property in question. Accordingly, when the only property to be shared between the spouses is constituted by set of shares of common nature, taking into account the special circumstances of the case, such shares could be awarded to one of the spouses with the obligation to compensate the other in money, even if it requests the sale of the shares in the public auction. To this end, the request would have to impede the possibi…
A Simulation Analysis of the Microstructure of an Order Driven Financial Market with Multiple Securities and Portfolio Choices
2005
In this paper we propose an artificial market where multiple risky assets are exchanged. Agents are constrained by the availability of resources and trade to adjust their portfolio according to an exogenously given target portfolio. We model the trading mechanism as a continuous auction order-driven market. Agents are heterogeneous in terms of desired target portfolio allocations, but they are homogeneous in terms of trading strategies. We investigate the role played by the trading mechanism in affecting the dynamics of prices, trading volume and volatility. We show that the institutional setting of a double auction market is sufficient to generate a non-normal distribution of price changes…
Revista electrónica de investigación y evaluación educativa
2014
La Economía Experimental ha desarrollado diferentes experimentos que pueden ser aprovechados como una actividad docente en la enseñanza de la Economía. Su naturaleza activa y participativa motiva a los alumnos y estimula la reflexión y la mejor comprensión de algunos fenómenos económicos como el funcionamiento de los mercados, donde los resultados individuales dependen del conjunto de las decisiones de los agentes y de sus interacciones. Los experimentos económicos tienen ya una larga tradición, y han proporcionado resultados espectaculares y conclusiones ampliamente admitidas sobre la dinámica de mercados y el efecto de las instituciones económicas. Las nuevas tecnologías facilitan la real…
J-MADeM, a market-based model for complex decision problems
2010
This paper presents J-MADeM, a multi-modal decision making mechanism to provide agents in a Multi-Agent Systems (MAS) with a market-based model for complex decision problems. J-MADeM is now available as an open source library fully integrated into Jason, the successful interpreter for the AgentSpeak programming language. The aim of this work is to improve Jason by incorporating an agent decision-making module able to merge multiple information sources received from the rest of the agents. This information is modeled as a set of utility functions expressing the preferences of the agents for a specific problem. Then, J-MADeM agents use one-round sealed-bid combinatorial auctions as the main p…
Market reaction to a bid-ask spread change: a power-law relaxation dynamics.
2009
We study the relaxation dynamics of the bid-ask spread and of the midprice after a sudden variation of the spread in a double auction financial market. We find that the spread decays as a power law to its normal value. We measure the price reversion dynamics and the permanent impact, i.e., the long-time effect on price, of a generic event altering the spread and we find an approximately linear relation between immediate and permanent impact. We hypothesize that the power-law decay of the spread is a consequence of the strategic limit order placement of liquidity providers. We support this hypothesis by investigating several quantities, such as order placement rates and distribution of price…
Brokers in the tea trade between China and West Africa
2021
Brokers have played important roles in the trade of green tea between China and Mali, from the 19th century when tea first came to Mali up to the present. They mediate between tea buyers and sellers, work on their own account, use soft skills, knowledge and networks and make a living from the commission they gain. This article examines the work of brokers in the tea trade, the social constellations in which they are active and the scope of their activity. Based on extensive field research in Mali and China, this article shows how brokers create their own jobs in a dynamic business landscape, which is often delimited by governmental policies, competing entrepreneurial activities and social …
The Value of Organic plus. Analysing Consumers’ Preference for Additional Ethical Attributes of Organic food Products
2023
AbstractOrganic Plus attributes strengthen the sustainability of the organic products and differentiate them from the ‘conventionalized’ organic ones. Products with Organic Plus attributes seem appreciated by organic consumers. However, research on consumers’ preference for Organic Plus is still scarce, leaving gaps in the understanding of the consumers’ characteristics of organic products with Plus attributes. In order to enrich the knowledge of consumers’ preference for organic products with Plus attributes, the present study aims to achieve three Objectives: (1) identifying which Plus attributes, among fair prices to local farmers, integration of people with disabilities and eco-friendli…
Combinatorial Double Auction Radio Resource Allocation Model in Crowd Networks
2018
International audience; Industrial Partners (IPs) with Mobile Network Operators (MNOs) are extending the mobile network infrastructure with Small Cells (SCs) in order to meet the growing mobile traffic demand. Due to the increasing number of telecommunication market competitors and the scarcity of radio resources, static sharing schemes are no more efficient. New dynamic schemes should be considered to meet both user expectations and economic success. In a crowd networking context, we propose in this work a dynamic radio resource scheme based on combinatorial double auctions. The participants in these auctions are the MNOs considered as buyers and the IPs, providers of SCs, considered as se…
Damned If You Do and Damned If You Don’t: Two Masters
2018
Available online: 05 June 2018 We study common agency problems in which two principals (groups) make costly commitments to incentives that are conditioned on imperfect signals of the agent's action. Our framework allows for incentives to be either rewards or punishments. For our basic model we obtain a unique equilibrium, which typically involves randomization by both principals. Greater similarity between principals leads to more aggressive competition. The principals weakly prefer punishment to rewards, sometimes strictly. With rewards an agent voluntarily joins both groups with punishment it depends on whether severe punishments are feasible and cheap for the principals. We study whether…