Auction Research Articles

Auction-based deep learning-driven smart agricultural supply chain mechanism

Agricultural product prices are subject to significant fluctuations due to variations in sales cycles, impacting people's quality of life and farmers' income while potentially giving rise to social problems. To address this issue in the smart agriculture supply chain, advancements in technologies like big data and artificial intelligence have made it feasible to predict agricultural product demand and price trends. Among the research methods, deep learning, being highly reliant on data and possessing multi-layered implicit information, has emerged as the most popular research method, exhibiting better data representation and prediction capabilities. In this study, we propose an end-to-end agricultural product price prediction model that combines complementary ensemble empirical mode decomposition (CEEMD) with long short-term memory (LSTM). The prediction generated by this model will provide guidance throughout various supply chain links, including production, harvesting, storage, and logistics. Moreover, the study aims to develop auction mechanisms based on the prediction results to achieve an optimal allocation of agricultural products. To address issues of low computational efficiency and limited benefit distribution in the auction process, this study introduces a deep learning-based iterative bilateral auction algorithm (DL-IDA), which improves upon existing methodologies by leveraging the power of deep learning. Empirical analysis is conducted using the daily price of Fuji apples at the Beijing Xinfadi market. The results demonstrate that the CEEMD-LSTM model proposed in this study exhibits superior performance in predicting agricultural product prices. Furthermore, experimental findings validate the effectiveness and superiority of DL-IDA. Compared to existing iterative bilateral auction algorithms, DL-IDA offers better performance in terms of running time, social welfare, buyer benefits, seller benefits, and broker benefits. Consequently, it can contribute to a transparent pricing mechanism for agricultural products.

A Decentralized Auction Model for Sustainable Housing Rental Market

The Internet of Things has driven the transformation of the traditional offline rental model to online rental platforms such as Zillow, Zigbang, and Lianjia. These platforms provide abundant housing options, detailed information, convenient communication, and greater price transparency. However, existing online rental platforms are still centralized and rely on third-party intermediaries for settlement, which raises concerns about the integrity of real estate data, transaction security, and price transparency. To improve the real estate leasing business, we propose leveraging the decentralized nature of blockchain technology. By eliminating intermediaries, we can ensure customer privacy and reduce transaction costs. This strategy revolves around smart contracts as a core component, automatically matching landlords and tenants based on their offers, achieving transparency, and maintaining anonymity for both parties. We introduce a novel auction system that combines the features of interactive auctions and sealed-bid auctions, enabling landlords and tenants to engage in range bidding. In this study, we developed a detailed algorithm to define how smart contracts function during the auction process. Through a cost analysis, we demonstrate the economic feasibility and provide a secure, transparent, and reliable approach for online auctions.

Acts Unlawful to Remove the Plaintiff's Rights as Winner of the Auction in Court Ruling Case Number 379/Pdt.G/2020/PN.JKT.PST

There is a significant risk of litigation associated with the execution of auctions, especially in practice. Both during and after the auction process, lawsuits are filed, frequently with the plaintiff's intention of delaying the auction's implementation. The variety of cases involving auction tactics is reflected in this litigation. The central issue in these petitions frequently centers on illegal acts carried out during the procedure. The present study aims to investigate two main questions: 1) What are the legal ramifications for the defendant in case they commit a crime that denies the plaintiff their rights as the auction winner, and 2) How do judges weigh the legal factors when making decisions in cases like Case Number 379 / PDT.G/ 2020/ PN.JKT.PST? Judicial-normative research methodology is being used. Based on the study's findings, the paper outlines the legal consequences for defendants who commit such acts, grounded in the provisions of Article 1365, which stipulate that every unlawful act obliges those at fault to compensate for the losses incurred. This is based on four elements: a) The act is contrary to law; b) It results in damages; c) It is executed wrongly; and d) The detrimental act arises causally. As per the judges' considerations before passing the verdict on Case Number 379/PDT.G/2020/PN.JKT.PST, it is crucial for the plaintiff to detail the credit facilities from PT. Bank Negara Indonesia (Persero), Tbk. c.q. Small Credit Center (SKC) Kramat in the lawsuit, to provide a clear picture to the court of the plaintiff's losses, thus qualifying the defendant's administrative misconduct as an act against the law

Pengaruh rasio kinerja keuangan pada harga saham perusahaan prospektus

The purpose of this study is to analyze whether there is an influence on the ratio of financial performance to stock prices. Financial performance ratios are proxied using Return on Assets, Debt to Equity Ratio, Earnings Per Share, Price Earning Ratio and stock prices are proxied using Price to Book Value. This type of quantitative research uses multiple linear regression data analysis techniques and secondary data with a sample of prospectus companies that conducted initial public sales on the stock market or IPO in 2021. The results showed that Return on Asset (ROA) and Price Earning Ratio (PER) have a significant influence on stock prices. The implication of this study is that prospectus companies that conduct an initial public offering or IPO can further increase the factors that affect the Return on Asset ratio in generating profits and maintaining the effectiveness of the company's operational activities in order to increase the company's return on investment. The difference with other studies is that research is conducted on companies that have just sold their shares for the first time so that investors can consider choosing shares of prospectus 2021 companies by paying attention to the level of financial performance ratio.

독립성을 상실한 구분건물에 대한 연구 - 경매절차에 미치는 영향 및 강제파산을 중심으로 -

독립성을 상실한 구분건물에 대한 연구 - 경매절차에 미치는 영향 및 강제파산을 중심으로 -

Analysis of Non-Performing Credit Settlement at PT. Bank NTB Syariah

This study aims (1) to analyse the factors that cause problem financing at PT Bank NTB Syariah (2) to find out how to solve problem financing at PT Bank NTB Syariah (3) to find out what are the obstacles to solving problem financing at PT Bank NTB Syariah. This type of research uses qualitative research. The data collection method used in this research is the interview method. Checking the validity of the findings using source triangulation so that it is easy to analyse various problems that occur at Bank NTB Syariah. The results of the study, (1) There are 2 factors that cause problem financing, namely, external factors and internal factors from customers (2) Efforts made by PT. Bank NTB Syariah in solving Problem Financing, namely: Doing billing by telephone media, Short Message Service (SMS) and WhatsApp, using very polite and smooth language, considering it as customer service, increasing intensive hospitality with customers, transferring customers, restructuring financing, collateral auctions by submitting the Customer's collateral auction process to the KPKLN. The last step is insurance claims and write-offs.

Peer-to-Peer Power Energy Trading in Blockchain Using Efficient Machine Learning Model

The advancement of mircogrids and the adoption of blockchain technology in the energy-trading sector can build a robust and sustainable energy infrastructure. The decentralization and transparency of blockchain technology have several advantages for data management, security, and trust. In particular, the uses of smart contracts can provide automated transaction in energy trading. Individual entities (household, industries, institutes, etc.) have shown increasing interest in producing power from potential renewable energy sources for their own usage and also in distributing this power to the energy market if possible. The key success in energy trading significantly depends on understanding one’s own energy demand and production capability. For example, the production from a solar panel is highly correlated with the weather condition, and an efficient machine learning model can characterize the relationship to estimate the production at any time. In this article, we propose an architecture for energy trading that uses smart contracts in conjunction with an efficient machine learning algorithm to determine participants’ appropriate energy productions and streamline the auction process. We conducted an analysis on various machine learning models to identify the best suited model to be used with the smart contract in energy trading.

Gender and remuneration in professional franchise cricket: analysing outcomes of the 2023 Indian Premier League auctions

The amount that players are paid in professional cricket is mostly derived from salary not, as in golf and tennis, from prize money and outside endorsements. Consequently, their pay is dependent on the remuneration system in operation which, in most cases, are administered set by their employers. Such prices embody severe gender inequalities with, for example, the lowest paid man being paid more than the highest paid woman in England’s iconic Hundred competition. In contrast, in the Women’s Premier League (WPL) and the Indian Premier League (IPL) auctions, prices are determined by the market with each player’s pay being determined by the highest bidder. From a detailed analysis of data from these two auctions for December 2022 (IPL) and March 2023, I show that the market system goes some way towards ameliorating the gender inequalities embedded in administered prices. After decomposing inequality in sale prices, I show that the main driver of inequality under these auctions was not gender but whether the candidates were domestic or overseas players.

Reinvigorating sustainability in Internet of Things marketing: Framework for multi-round real-time bidding with game machine learning

Auction-based incentive mechanisms can satisfy the heterogeneous demands of both Demand Side Platforms (DSP) and Supply Side Platforms (SSP) in Internet of Things (IoT) marketing. However, DSP platforms often need help with two issues during the auction process: low enthusiasm and unreasonable bidding. To address these problems, we use the second-price sealed auction and propose a framework for multi-round real-time bidding with game machine learning. We introduce a multi-round advertising bidding mechanism incorporating reputation incentive rules to enhance DSP enthusiasm. The aim is to stimulate DSP participation and deter malicious DSP behavior, ensuring fairness and transparency in the bidding process. Subsequently, we design an auction screening model and adopt a multi-round auction format to ensure that only capable and willing advertising demand partners can participate, thus guaranteeing the reasonableness of DSP bids. Furthermore, we design a real-time bidding mechanism to adapt to the dynamic nature of the IoT marketing market. This mechanism transforms the problem of maximizing DSP revenue under budget constraints into a parameter adjustment problem based on a Markov Decision Process. We then utilize the Double Deep Q Network method to obtain the optimal bidding strategy for DSPs. Ultimately, the results demonstrate that our framework improves the final transaction price by 14.71%, increases the expected click-through rate by an average of 19.35%, and reduces the average cost per thousand impressions by 20.34%.

공공자가주택 개발이익 배분 효과 비교 연구

This study confirmed the effect of redeeming development gains from privately owned houses with public purpose and public sale houses by comparing the distribution ratio of development gains taken by the public and by individuals. Using the A2-1 block in Namyanrposegju’s Byeolnae district as a case site, the degree of distribution of development profits by each type is compared when the units are sold six years after moving in. As a result, the general type of public sale house (84.9%) is the type of housing for which the initial buyer takes more than 50% of the development profit, followed by the Newlyweds Hope Town B type (30% loan, 2 children) (73.4%), and the sharing type of public sale house (65%). The land leased house not only has minimal development gains taken by the initial buyer, but it is also likely that the original value of the building will be eroded due to increased depreciation costs over time. This study is meaningful as it can provide the basic data to compare the development gains distribution effects of the current intermediate housing model before developing various intermediate housing models that properly share development gains and continuously supply low-cost housing.

Exploring stationary and major modular construction challenges in developing countries: a case study of Egypt

Purpose This study aims to identify the most significant barriers and the stationary barrier to modular construction (MC) implementation and promote MC widespread use. By doing so, the construction industry can leverage the benefits of MC, such as faster construction times, improved quality control, reduced waste and increased sustainability. Design/methodology/approach This study uses a Gini’s mean analysis approach to identify the stationary barriers hindering the MC adoption in residential projects. The research focuses on the Egyptian context and uses a questionnaire survey to gather data from professionals in the construction industry. Findings According to the survey findings, the top five significant MC barriers are inability to modify the design; contractors asking for high bidding prices (higher initial cost); scepticism, conservation and resistance of clients to innovation and change; transportation restrictions; and lack of a one-size-fits-all tool for the design. In addition, Gini’s mean of dispersion demonstrated that the stationary barrier that faces MC adoption is the apprehension that architectural creativity will suffer because of MC. Practical implications The identified obstacles could be useful for decision makers in countries that have not yet adopted MC and may aid in the planning process to manage the risks associated with MC projects. The paper stresses the significance of devising techniques to overcome these barriers and proposes several methods to tackle these challenges. Originality/value This study fills the knowledge gap by identifying the stationary barrier and emphasising the potential risks associated with MC barriers. Furthermore, it suggests several strategies for overcoming and reducing these barriers in developing countries residential projects.

Analisa Menambah Surat Gugat dapat dilakukan Sepanjang tidak Merubah dan Menambah Kejadian Materiel Berdasarkan Pasal 127 RV (Perkara No. 79/Pdt.G/2020/PN JKT.SEL)


 Sri Bintang Pamungkas, as Plaintiff and Fahrizal Fardiansyah as Main Director of PT. Eora Mitra Sejati as Defendant. The Plaintiff prevented the auction process for the Wilis parcels by the Auction Center through BCA, which was borrowed incorrectly by the Defendant as Collateral to obtain a credit facility from BCA in the amount of Rp. 1,800,000,000,- which ended in default by exchanging Collateral from the Wilis parcels with the central Kalibata parcels. The plaintiff intends to obtain control over all assets of PT. Eora Mitra Sejati which is still left from the proceeds from receiving the BCA credit facility. On July 16, 2014, a Bank BCA credit agreement was held. Based on the credit agreement, BCA agreed to provide local credit facilities not exceeding Rp. 1,200,000,000.- to the Defendant (PT. Eora Mitra Sejati) Which facility will be used for the company's working capital, the length of the loan extension as of July 17 2014 ending July 17 2015 credit interest must be paid at 14.25% per year on loans made stated that it is paid every month, which credit interest can be reviewed, for the first time on May 9, 2019 by providing details of the amount of debt that must be repaid without notification to the Plaintiff and Mrs. Emalia. According to his statement, the Plaintiff has paid more than 5 years to BCA approximately 60 times each in the amount of Rp. 20,000,000, - which is considered as a loan interest payment, while the principal loan payment is only paid once, namely in November 2019 in the amount of Rp. 100,000,000, - then the Plaintiff and Mrs. Emalia on 23 December 2019 met the head of the BCA office in the Bidakara building and the Plaintiff added a payment of Rp. 70,000,000, - the plaintiff requested permission to change to the Panel of Judges to include certificate of ownership no. 03554/Mampang with an area of ​​2,114 m2 in the name of Defendant (now please call Defendant I) MA jurisprudence No. 547K/SIP/1973 states: changes to the lawsuit regarding the subject matter of the case are changes to the subject matter of the lawsuit. Therefore, it must be rejected. 03554 Mampang with an area of ​​2,114 m2 on behalf of the Defendant (now please call it Defendant I) considering that because the Plaintiff had crossed the tolerance limit in changing the lawsuit, the panel of judges considered that the plaintiff's lawsuit must be rejected.

Calcutta auctions

ABSTRACT This analysis is the first study to examine an emergent wagering market: the Calcutta auction. Participants in Calcutta auctions bid for entrants that compete to earn a pre-determined percentage of an unknown total pot size. Utilizing 13-year data from an in-person Calcutta auction of NCAA men’s basketball tournament teams, evidence exists of a traditional favourite-longshot bias, of lower overall returns existing for teams in the middle of the team quality distribution and of auction participants being unable to correctly identify (through higher bids) teams that ultimately win more games after their quality is taken into account.

Bid Caps in Noisy Contests

This paper studies optimal bid caps in a multiplayer noisy contest in which a higher bid does not guarantee a sure win. The bid cap can be either rigid or flexible. The former imposes outright bidding restrictions on players’ bids, while the latter taxes bids. A designer structures the bid cap to maximize a weighted sum between aggregate bid and tax revenue. Our analysis characterizes the optimum. A rigid bid is always outperformed by flexible ones, and a laissez-faire policy—i.e., no cap—is optimal when the designer maximizes the aggregate bid. The results also generate novel practical implications. (JEL C72, D44, D82)

The professionalisation of the art trade in early nineteenth century London: Exploring the business model of Christie’s auction house

By 1800, the city of London had developed into a major hub for the art trade and numerous auction houses vied for market share in this competitive environment. Combining data from the Getty Provenance Index® and a unique set of journals preserved at the Christie’s archives in London which contain presale evaluations for paintings during the 1820s, this paper explores the business strategy of the auction house. We gauge the relationship between the estimates and the hammer price or highest bid in the subsequent public auction, and the reserve price when available. We argue that Christie’s developed the expertise and engendered the trust among sellers to secure consignments of desirable works of art, which were estimated at realistic and attractive levels that gave the company a competitive advantage in the booming London art market.

Risk Analysis on The Construction Project of The 150 KV Bangkalan High Voltage Transmission Network

Electricity project implemented by PT. PLN (Persero) UIP JBTB is a construction project of the High Voltage Transmission Network and High Voltage Cable Channel 150 kV Bangkalan. The construction will certainly stretch across various terrains that have various levels of risk in the construction process. In addition, the construction project of the High Voltage Transmission Network and High Voltage Cable Channel 150 kV is a very complex project so that each stage has different obstacles so that it has the potential to have high risks in its implementation. The risk management will be based on SNI 8615:2018 ISO 31000:2018 regarding Risk Management – Guidelines and SNI IEC/ISO 31010:2016 Risk Management – Risk Assessment Techniques. The risk management process begins with determining the scope, context and risk criteria and then proceeds with the risk assessment process which includes identification, analysis, risk evaluation and risk treatment. This research was conducted to identify the risks that arise in the High Voltage Transmission Network and High Voltage Cable Channel 150 kV Bangkalan transmission development project and formulate the most effective response for each extreme, very high and high risk category of the project. The risk analysis of the Transmission Network project was carried out using a qualitative method to obtain a risk category. At risk that have extreme, very high, and high categories are risks that cannot be tolerated and a quantitative analysis will be carried out using the Expected Monetary Value method as measured data. Furthermore, with the Decision Tree Analysis diagram, several alternative risk treatment branches will be obtained which will then be analyzed using the multiplication of the response success value with the cost impact value in order to obtain the most effective treatment option. The results of the risk treatment will be categorized into risk mitigation, transferring risk, and accepting risk and the result of residual risk will be known through testing the effectiveness of handling risk treatment. The highest risk in this study is the risk of less than optimal contractor performance which causes project completion to be late with risk treatment by means of the good/services provider process being selected through an auction process which is included in the list of selected providers. The recording the risk register is also carried out as a database in risk analysis research on the construction project of the 150 kV Bangkalan high voltage transmission network.

Carbon allowance auction design of China's ETS: A comprehensive hierarchical system based on blockchain

This study proposes a blockchain-based optimization framework for carbon allowance allocation auctions. First, the study assesses the status quo of carbon trading, pinpointing barriers, future development trends, and identifying carbon quota auction standards and methods pertinent to the Chinese context. Second, based on China's carbon market needs and the technical characteristics of blockchain, this study reconfigures the functions and responsibilities of each participant and creates a framework for a carbon allowance auction system to optimize the carbon trading process. Third, an algorithm for the carbon allowance auction system is constructed, and the corresponding smart contract is created and simulated. The results illustrate that our proposed system framework facilitates universal carbon allowance auctions, efficiently addresses potential disputes during the auction process, enhances market transparency and credibility, and offers comprehensive privacy protection with flexible information disclosure options for corporations. Blockchain's role in fostering paid distribution and incentivizing participation in the carbon market is further recognized. A blockchain-based carbon trading system safeguards transaction security and efficiency, maintains precise transaction records, and provides automated settlement. Ultimately, this paper presents policy suggestions for the development of a national carbon market in China.

STUDI DEVIASI PENERAPAN ASPEK HUKUM PENGADAAN KONSTRUKSI

In construction procurement in Indonesia there are still deviations in the tender process. The deviation is caused by an opportunity during the construction bidding process. The service providers are mutually looking for opportunities to seek personal or group benefits or from the working group that makes these deviations. This causes state losses due to deviations in the construction bidding process. This research was conducted by collecting data from institutions that have the authority to decide whether or not deviations occur in the auction process. The institution authorized to decide whether or not a deviation occurs is the Commission for the Supervision of Business Competition of the Republic of Indonesia (KPPU RI). This study uses a questionnaire to find out how much the causes and impacts on state losses are caused by deviations in the auction process and uses the Probability and Impact Matrix method to determine the level of implication values of the causes and impacts of deviations in each case using a case base analysis approach. The results obtained based on the decision are as many as 12 types of deviation based on the case decision. The impact of deviations that occur in construction procurement is material and immaterial losses. The causes of deviation in construction procurement are caused by four factors, namely the factor of wanting to obtain personal or group benefits, opportunities, pressure and business climate. The most contributing factor to the occurrence of deviation is the combined conspiracy and vertical conspiracy resulting in a value of 11.38%.

BID expression determines the apoptotic fate of cancer cells after abrogation of the spindle assembly checkpoint by AURKB or TTK inhibitors

BackgroundDrugs targeting the spindle assembly checkpoint (SAC), such as inhibitors of Aurora kinase B (AURKB) and dual specific protein kinase TTK, are in different stages of clinical development. However, cell response to SAC abrogation is poorly understood and there are no markers for patient selection.MethodsA panel of 53 tumor cell lines of different origins was used. The effects of drugs were analyzed by MTT and flow cytometry. Copy number status was determined by FISH and Q-PCR; mRNA expression by nCounter and RT-Q-PCR and protein expression by Western blotting. CRISPR-Cas9 technology was used for gene knock-out (KO) and a doxycycline-inducible pTRIPZ vector for ectopic expression. Finally, in vivo experiments were performed by implanting cultured cells or fragments of tumors into immunodeficient mice.ResultsTumor cells and patient-derived xenografts (PDXs) sensitive to AURKB and TTK inhibitors consistently showed high expression levels of BH3-interacting domain death agonist (BID), while cell lines and PDXs with low BID were uniformly resistant. Gene silencing rendered BID-overexpressing cells insensitive to SAC abrogation while ectopic BID expression in BID-low cells significantly increased sensitivity. SAC abrogation induced activation of CASP-2, leading to cleavage of CASP-3 and extensive cell death only in presence of high levels of BID. Finally, a prevalence study revealed high BID mRNA in 6% of human solid tumors.ConclusionsThe fate of tumor cells after SAC abrogation is driven by an AURKB/ CASP-2 signaling mechanism, regulated by BID levels. Our results pave the way to clinically explore SAC-targeting drugs in tumors with high BID expression.

Can auctions increase competition in the pension funds market? The Chilean experience

This paper analyses the auction policy over enrollees’ monopoly rights introduced in the Chilean pension system. This policy was designed to promote competition in the pension fund market driven by private firms, after 30 years of operation. Since the Chilean pension fund system has inspired dozens of countries in the last forty years, the analysis of the design and performance of its relatively new auction mechanism is of worldwide interest. We present a theoretical and empirical model. Our theoretical model illustrates firms’ incentives to participate in the auction process. Our empirical analysis focuses on the effect of auctions on outcomes, such as fees, mark-ups, demand price elasticity, returns, and risk premiums. Despite the evidence shown for the positive benefits of the auction implementation, the current mechanism design is not considering that the biggest issue is the low individuals’ price response levels. Importantly, the current auction design only incentivizes new entrants to participate. Thus, the design generates low competition in the auction processes. Proper design should incentivize all firms to participate. Besides, we find that consumers’ price elasticity increased after the implementation of auctions, although demand is still generally inelastic. Interestingly, non-winning auction firms did not react in fees but may have reacted in other characteristics, such as returns and risk premiums.