scholarly journals Markets with Multidimensional Private Information

2018 ◽  
Vol 10 (2) ◽  
pp. 250-274 ◽  
Author(s):  
Veronica Guerrieri ◽  
Robert Shimer
Keyword(s):  
Private Information ◽  
Price Formation ◽  
Signaling Game ◽  
Equilibrium Path ◽  
One Dimensional ◽  
Pareto Efficient ◽  
Efficient Allocations ◽  
Asset Quality ◽  
Separating Equilibrium

This paper explores price formation when sellers are privately informed about their preferences and the quality of their asset. There are many equilibria, including a semi-separating one in which each seller's price depends on a one-dimensional index of her preferences and asset quality. This multiplicity does not rely on off-the-equilibrium path beliefs and so is not amenable to standard signaling game refinements. The semi-separating equilibrium may not be Pareto efficient, even if it is not Pareto dominated by any other equilibrium. Instead, efficient allocations may require transfers across uninformed buyers, inconsistent with any equilibrium. (JEL D11, D52, D82)

scholarly journals Modeling College Admission as a Signaling Game

2021 ◽  
Vol 8 (6) ◽  
pp. 21
Author(s):  
Joseph Rekus ◽  
Yixiao Jiang
Keyword(s):  
Standardized Tests ◽  
Private Information ◽  
Standardized Test ◽  
Selection Process ◽  
College Admission ◽  
Signaling Game ◽  
Admission Process ◽  
Academic Abilities ◽  
Incentive Compatible ◽  
Separating Equilibrium

This paper models the college admission process as a signaling game between the admissions office and a pool of heterogeneous applicants characterized by academic abilities and demonstrated interest. In the screening and selection process, applicants attempt to signal their private information through their performance on a standardized test (for academic abilities) and interview (for demonstrated interest).  We show, under general conditions, that a separating equilibrium exists in which it is incentive-compatible for applicants to reveal their characteristics truthfully, and thus the admissions office does not fall victim to the problem of information asymmetry. Furthermore, we delineate how this equilibrium can be induced by setting appropriate “scoring” thresholds associated with standardized tests and interviews.

Effect of mechanical restraint on the rate of corrosion in concrete

1998 ◽  
Vol 25 (1) ◽  
pp. 81-86 ◽  
Author(s):  
N Hearn ◽  
J Aiello
Keyword(s):  
Mix Design ◽  
Concrete Repair ◽  
Accelerated Corrosion ◽  
One Dimensional ◽  
Mechanical Restraint ◽  
Corrosion Rates ◽  
Accelerated Corrosion Tests ◽  
The Matrix ◽  
The Relationship

Experimental work on prismatic concrete specimens was conducted to determine the relationship between mechanical restraint and the rate of corrosion. The current together with the changes in strain of the confining frame were monitored during the accelerated corrosion tests. The effect of mix design and cracking on the corrosion rates was also investigated. The results show that one-dimensional mechanical restraint retards the corrosion process, as indicated by the reduction in the steel loss. Improved quality of the matrix, with and without cracking, reduces the rate of steel loss. In the inferior quality concrete, the effect of cracking on the corrosion rate is minimal.Key words: corrosion, concrete, repair.

scholarly journals Influence of rootstock on the quality of sweet cherry fruits in the conditions of the Lower Volga region

2021 ◽  
Vol 845 (1) ◽  
pp. 012063
Author(s):  
OA Nikolskay ◽  
A V Solonkin ◽  
E N Kikteva
Keyword(s):  
Sweet Cherry ◽  
Climatic Conditions ◽  
Lower Volga Region ◽  
One Dimensional ◽  
Qualitative And Quantitative ◽  
Volgograd Region ◽  
Heat And Moisture ◽  
Quantitative Indicators ◽  
Fruit Plantations

Abstract Sweet cherry is a thermophilic and whimsical crop that reacts painfully to unfavorable meteorological conditions, such as frost, drought or high humidity in the air and soil. At the same time, this crop requires a uniform supply of heat and moisture during the growing season. In the climatic conditions of the Volgograd region, stressful situations often arise that can partially or completely reduce the yield of fruit crops, especially those introduced to our region from other regions. To reduce the risk of losing the yield of fruit plantations, including sweet cherry, it is necessary to pay special attention to the choice of the variety, as well as the rootstock on which this variety is grafted. The publication presents the results of studying the influence of rootstocks on the qualitative and quantitative indicators of sweet cherry fruits, such as taste, weight, uniformity, color, and productivity. According to the results of the study in the field (in the garden), varietal-rootstock combinations were identified that have one-dimensional, crack-resistant, large fruits, while maintaining high and stable productivity. According to the results of research, it was found that the rootstock affects not only the strength of growth and the shape of the crown, but also the quality of the fruit. The most dependent of the studied varieties on the type of rootstock is Euphoria, the lowest weight of berries was observed on the rootstock VSL-1. At the same time, this rootstock has a higher percentage of resistance to cracking of the fruit. Based on the conducted research, it can be concluded that with the help of rootstock, it becomes possible to influence the quality indicators of fruits.

Continuous Signaling within Partitions: Capital Structure and the FIFO/LIFO Choice

1994 ◽  
Vol 9 (1) ◽  
pp. 1-19 ◽  
Author(s):  
Patricia J. Hughes ◽  
Eduardo S. Schwartz ◽  
Anjan V. Thakor
Keyword(s):  
Capital Structure ◽  
Private Information ◽  
Empirical Regularities ◽  
The Many ◽  
Separating Equilibrium

This paper considers a setting in which managers have private information about the values of their firms and can communicate it to uninformed investors through the use of two signals: capital structure and inventory accounting method. We show conditions under which a separating equilibrium with debt alone does not exist. The two-signal equilibrium involves a partitioned separation in which the highest quality firms choose FIFO and the lower quality firms choose LIFO, and all firms then distinguish themselves within these two partitions through capital structure choices. The analysis helps to explain the many observed empirical regularities about firms' capital structure choices and LIFO/FIFO choices and, in addition, produces numerous testable predictions about the relation between capital structure and inventory accounting method.

Understanding and Assessing Quality of Models and Modeling Languages

2019 ◽  
pp. 967-980
Author(s):  
John Krogstie
Keyword(s):  
Natural Language ◽  
Modeling Languages ◽  
Time And Space ◽  
One Dimensional ◽  
Human Conduct ◽  
Organizational Activity ◽  
Important Challenge ◽  
Forms Of Knowledge ◽  
Models And Modeling

An important challenge for organizational activity is to effectively represent and transfer knowledge. One reason why humans have excelled as a species is our ability to create common stories and represent, reuse, and transfer this as knowledge across time and space. Whereas in most areas of human conduct one-dimensional natural language texts are the main way of expressing and sharing knowledge, the authors see the need for and use of two and many-dimensional forms of knowledge representational to be on the rise. This will also enable users to capture contextual dependencies between roles, tasks, information elements, and the views required for performing work without having to go through traditional systems developers to have enhanced support for their work. The importance on supporting judgment on the quality of these models will thus increase along with the usefulness of frameworks for quality of models and modeling languages such as SEQUAL.

Intellectual capital and asset quality in an emerging banking market

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nicholas Asare ◽  
Margaret Momo Laryea ◽  
Joseph Mensah Onumah ◽  
Michael Effah Asamoah
Keyword(s):  
Human Capital ◽  
Intellectual Capital ◽  
Value Added ◽  
Annual Data ◽  
Capital Investments ◽  
Content Type ◽  
Panel Regressions ◽  
Banking Market ◽  
Asset Quality

PurposeThis study examines the causal relationship between intellectual capital and asset quality of banks in Ghana.Design/methodology/approachUsing annual data extracted from audited financial statements of 24 banks from 2006 to 2015, a ratio of non-performing loans to gross loans and advances is employed to estimate asset quality growths while the value-added intellectual coefficient by Pulic (2008, 2004) measures intellectual capital. The panel-corrected standard errors estimation technique is used to estimate panel regressions with asset quality as the dependent variable.FindingsAsset quality of banks in Ghana is generally not affected by intellectual capital. However, when intellectual capital is divided into its components, the study indicates that there are significant positive relationships between asset quality and two components of intellectual capital. Thus, structural capital and human capital efficiencies positively affect the asset quality of banks.Practical implicationsThe findings of the study implore managements of banks to increase structural and human capital investments and efficiencies to improve asset quality. Furthermore, the results have direct implications on developments in financial markets in emerging economies.Originality/valueThe study analyses the link between typical intellectual capital and asset quality of banks which is yet to be empirically examined in an emerging banking market.

Corporate Debt Vulnerability and Non-performing Assets in India

2020 ◽  
pp. 097215092093575
Author(s):  
K. Dhananjaya
Keyword(s):  
Banking Sector ◽  
Global Financial Crisis ◽  
Corporate Debt ◽  
Sales Growth ◽  
Bank Profitability ◽  
Balance Sheets ◽  
Public Sector Banks ◽  
Bank Balance Sheets ◽  
Asset Quality

This article examines the increasing corporate debt vulnerability and its impact on the asset quality of the Indian public sector banks (PSBs) in the post-global financial crisis (post-GFC) of 2008. The study shows that the stress in both corporate and bank balance sheets has increased in the post-GFC. As a result, there has been a steep increase the proportion of firms with negative profitability. The article finds that the declining profitability has severely affected the debt serviceability of the firms. Consequently, the debt at risk has risen significantly, which in turn has contributed to increase in non-performing assets (NPAs) of the banking sector, particularly, the PSBs. Using the panel regression technique, the study finds that the corporate debt vulnerability is an important determinant of the growth of NPAs along with other factors such as debt concentration, corporate sales growth, lending to sensitive sectors, bank profitability, bank size and the efficiency of banks.

A Trust Based Secure and Privacy Aware Framework for Efficient Taxi and Car Sharing System

2018 ◽  
Vol 2 (1) ◽  
pp. 34-47 ◽  
Author(s):  
Oladayo Olakanmi ◽  
Sekoni Oluwaseun
Keyword(s):  
Quality Of Service ◽  
Service Delivery ◽  
Private Information ◽  
Autonomous Vehicles ◽  
Trust Model ◽  
Security And Privacy ◽  
Car Sharing ◽  
Perfect Model ◽  
Taxi Service

This article describes how taxi service is an essential means of mobility in many cities. Recent findings show that average automobile owners utilize their vehicles for only 5% of its time in a day. Therefore, the advent of autonomous vehicles and car sharing will make it possible for owners to engage their vehicles as taxis when not in use by utilizing its 95% free time for income generation. Sensitive private information is required to be released during a taxi service delivery, which may bring certain security and privacy issues and challenges. This may hinder the prospect of using autonomous vehicles as a form of taxi. As a result of these, the authors propose a secure and privacy-preserving taxi service framework for car sharing, which ensures protection of car owner and passengers personal details, e.g. identity, location, destination, etc. The authors developed a decay-based trust model for a framework in order to monitor and improve the quality of service rendered to passengers by vehicles. The decay-based trust model was simulated on the framework. The simulation of the decay-based trust model shows that it is a perfect model for rewarding vehicles which render good quality of service and blacklisting vehicles with frequent poor service delivery.

Theoretical Model of a Flow in a Tube With a Slit

2019 ◽  
Author(s):  
Yuki Toda ◽  
Masataka Morimatsu ◽  
Yu Nishio ◽  
Takanobu Ogawa
Keyword(s):  
Theoretical Model ◽  
Flow Field ◽  
Pressure Loss ◽  
Longitudinal Direction ◽  
Gas Mixture ◽  
Straight Tube ◽  
One Dimensional ◽  
Tube Type ◽  
Gas Burner

Abstract A tube-type gas burner consists of a straight tube with a slit along it and discharges an air-gas mixture through the slit to produce a flame. The flow velocity from the slit depends on the pressure in the tube and the pressure loss at the slit, and it varies in the longitudinal direction of the tube. The resulting uneven flame degrades the quality of the burner. In this study, we develop a one-dimensional theoretical model of the flow in a tube with a slit. To validate the result of the theoretical model, we also conduct experiments and numerical simulations for the same flow field. We applied this theoretical model to a flow in a tube, 1 m length, 40 mm in diameter, with a slit 2.5 mm wide. The end of the tube is closed. We also discuss the effect of the length of the burner on the unevenness.

scholarly journals Assessment of the Quality of the IDT Elemental Observations

1992 ◽  
Vol 9 ◽  
pp. 414-414
Author(s):  
M.A.C. Perryman
Keyword(s):  
Control System ◽  
Data Analysis ◽  
Attitude Control ◽  
Angular Separation ◽  
Attitude Control System ◽  
Phase Measurements ◽  
One Dimensional ◽  
The One ◽  
Comparison Of The Results

AbstractThe quasi-simultaneous measurement of the one-dimensional angular separation of stars on the sky, on both small and large angular scales, rely on the measurements made by the IDT detector, as well as on inputs from the star mapper and attitude control system. This presentation will concentrate on the results of a comparison of the results of the IDT data processing carried out by the FAST and NDAC data analysis teams. The extent to which the intensity and phase measurements agree between the two reductions, and the extent to which the differences are consistent with expected photon noise errors, will be illustrated.

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