Auction System Research Articles

OPTIMALISASI ASAS KEMANFAATAN HASIL LELANG EKSEKUSI DALAM PERSPEKTIF HUKUM INVESTASI

The auction activity is the sale of goods open to the public with a written and / or verbal price quote that is increasing or decreasing to reach the highest price, which is preceded by an auction announcement. Auction activities can grow the country's economy, this activity can be optimized through investment. The research method used in this research is normative juridical, and the data are analyzed qualitatively using SWOT analysis. The results of this research there are opportunities and challenges where the Mortgage Certificate has an executorial power, the Regulation supports Investors / Buyers to Invest by buying auction assets, the online auction system aims to enable KPKNL to respond quickly, cheaply, efficiently every request of potential buyers / Investors without have to go through a long bureaucracy, buyers in good faith get legal protection. As for obstacles or challenges in optimizing auction results through investment, namely the presence of auction blockage before the auction, interference or intervention from third parties, and the existence of legal remedies in the form of lawsuits, resistance, rebuttal submitted by the Respondent / debtor at the Court for reasons that are too low or Police Report. With regard to investor legal certainty, namely obtaining legal certainty and legal protection for the purchase of auction assets at the KPKNL in accordance with the provisions stipulated in article 14 of Law Number 25 of 2007 concerning Investment.Keywords : Utility Principle; Auction; Invesment Law.

A Study of the Applicability of Ideal Lattice-Based Fully Homomorphic Encryption Scheme to Ethereum Blockchain

Without the requirement of trusted third parties (TTPs), Blockchain builds an environment where mutual trust among valid members is established. Nevertheless, the associated transparency property caused a hazard to real-world applications because every on-chain information is exposed to the public. That implies those applications involving sensitive data or personal information, which require security and privacy protection, are not suitable to be implemented in Blockchain, directly. Fully homomorphic encryption (FHE) schemes have been treated as one of the end-to-end solutions to data security and privacy protection problems. In this article, we examine the possibility (or cost) of embedding the ideal lattice-based FHE into the Ethereum Blockchain for building up a new trustworthy framework with security and privacy protection capability. Due to the limitations of current Blockchain, the execution of FHE is conducted off-chain; at the same time, on-chain members can call FHE-based functions to directly compute the ciphertext domain operations after their Smart Contracts have been deployed to the Blockchain. To illustrate and benchmark the examining results of our framework, an FHE and Blockchain-based Vickrey auction system is also developed, in which the online bidding prices are kept in secret. Simultaneously, the determination of the winner and the transferring of payments are conducted autonomously by Smart Contracts.

Implementation of Online E –Auction to Overcome the Problem of Corruption with Effective and Efficient Procurement with Transparency

This research paper explores the concept of e-Auction, an increasingly form of online procurement. There is fixed delivery policy. This is a fully dynamic system which can be easily operated by the users. This research paper explores all the increasing form of online procurement. Online e auction system is gaining popularity day by day because of its ease of making online bidding and selling or buying. Users can freely go the website and register there and it’s ready for selling or buying their product. The main thing that is needed to be there is trust among the users, so that they can easily register and take part in the process without having any doubt regarding security. The aim of any online system are related with two points that are: 1.Customer satisfaction 2.Business purpose. Therefore, to meet these requirements there must be need of making enhancements in the online auction system. This paper will explore the all forms of online procurement that we can make to improve the current system.

Implementation of Online E –Auction to Overcome the Problem of Corruption with Effective and Efficient Procurement with Transparency

This research paper explores the concept of eAuction, an increasingly form of online procurement. There is fixed delivery policy.This is a fully dynamic system which can be easily operated by the users.This research paper explores all the increasing form of online procurement. Online e auction system is gaining popularity day by day because of its ease of making online bidding and selling or buying. Users can freely go the website and register there and it’s ready for selling or buying their product. The main thing that is needed to be there is trust among the users, so that they can easily register and take part in the process without having any doubt regarding security. The aim of any online system are related with two points that are Customer satisfaction and Business purpose. Therefore, to meet these requirements there must be need of making enhancements in the online auction system. This paper will explore the all forms of online procurement that we can make to improve the current system.

Mineral auction regime in India: challenges and future outlook

Mineral and Mining sector, being one of the core sectors of economy, provides basic raw materials to many important industries like power generation (thermal), iron and steel, cement, petroleum and natural gas, petro-chemicals, fertilisers, precious and semi-precious metals/stones, electrical and electronics equipment, and glass and ceramics. The demand for minerals has always/been on the rise with the unfolding of rapid scale of urbanisation and ambitious growth target set for the Manufacturing Sector in India. India is one of the leading producers of many vital and strategic minerals. India has discernible constitutional and legal framework in place to manage the diversification of its Mineral Sector. National Mineral Policy provides operational framework for the Mineral Sector. The Mines and Minerals (Development & Regulation) Act (MMDR), 1957, with amendments as recent as that effected in 2016 is the principle legislation that governs the Mineral and Mining Sector in India. However, judicial pronouncements for allocation of natural resources and subsequent recommendations of high-level committees steered the government towards a paradigm shift caused the adoption of transparent measures in the allocation of mineral blocks through an auction system. The MMDR Amendment Act, 2015, which came into force on 12 January 2015 has ushered in the regime of transparent and nondiscretionary grant of mineral concessions, and thereafter all the concessions of major minerals are granted through auction. Further, the e-auction process for the grant of mineral blocks has laid the foundation stone for “ease of doing business” in the Mining Sector of the country. In the Mining Sector, the dynamics and demand and supply and their effect on the market would in the near future after several trends for instance the recent trend of mineral block auctions threw some challenges, such as to define a threshold for high premium in auction scenario and driving force for high premium in the recent mine auction and its impact on finished product. Every paradigm shift induces setting of new normal. The future demand outlook for minerals and metals is definitely promising and harnessing mineral wealth to advance economic development, and human well-being would get to the top of priorities.

A Study on Court Auction System using Ethereum-based Ether

A Study on Court Auction System using Ethereum-based Ether

Sistem Opersionl Lelang BPPKD Kabupaten Purworejo Perspektif Hukum Islam dan Hukum Positif

At present many transactions are done by the community one of them is ba'i al-muzāyadah. BPPKAD (Finance and Regional Asset Management Agency) Purworejo Regency Practice the ba'i al-muzāyadah in selling inventory items that are not usable in equipment because they are damaged or for development, namely The sales auction with a single-cover closed bidding method, in the sense of a letter of bidding (a bid size) along with all requirement files inserted in one closed envelope. Therefore, among the bidders can not know each other's offerings from other participants. This is different from the auction system in the Fiqh rulings (Islamic law) is an auction with a method of bidding in the middle of the crowd or public and the price quote is done repeatedly to find the auction winner. Departing from the background, researchers interested in discussing the problems of the BPPKAD auction operational system (the financial and Regional Asset Management Board) of Purworejo Regency using the perspective of Islamic law. With the aim that researchers can research more in whether the auction system used by BPPKAD Purworejo District is already in accordance with Islamic law. This type of research is a type of field study, the method of collecting data by interview. There are two data sources that are primary data sources and secondary data sources while the analysis uses a qualitative approach.

An Investigation Into the Effects of Central Bank Regulation on Exchange Rate Case Study of Zimbabwe From 1980–2019

Foreign exchange interventions as a possible tool needs to be assessed taking into account both the design and implementation of monetary policy for this reason, the forms of foreign exchange intervention and their effectiveness in achieving exchange rate ,since there were limited foreign exchange restrictions and less direct government controls in the foreign exchange market before (Rossini et al (2013). During the period 1991 to July 1994, a two-tier exchange rate system was used one quoted by the Reserve Bank of Zimbabwe (RBZ) and the other one determined in by inter-bank market. Following the demise of the Auction System, the Reserve Bank of Zimbabwe announced the Tradable Foreign Currency Balances System (TFCBS) on 24 October 2005.Initially foreign currency was only accessed from banks and was later decentralized resulting in the licensing of several Bureau de Changes across the country in 2002 to 2013 era. There were several policy revisions, reversals and even de-licensing bureau de change.

STRATEGI PEMASARAN KARET SISTEM LELANG DALAM UPAYA MENINGKATKAN PEREKONOMIAN PETANI KARET

Ogan Komering Ilir Regency is a natural rubber producing district in South Sumatra Province. Rubber marketing system in the Ogan Komering Ilir through the middleman and auction system. Marketing through the auction system is considered to be better and more profitable for rubber farmers than marketing through middlemen. Where the middleman system often tends to harm farmers, thus hindering the economy of rubber farmers. The purpose of this research is to formulate a rubber marketing strategy through an auction system which is expected to improve the mechanism of the rubber marketing system and ultimately be able to improve the economy of rubber farmers. The approach used in this research is descriptive qualitative, data collection is done by observation and interviews. Hail research shows that it has potential and opportunities as a good place for transactions that are more profitable for farmers. Through the auction system, rubber farmers are interested in being willing and able to produce good quality rubber, so that the selling price of rubber is higher

Modelling Bidding Behaviour on German Photovoltaic Auctions

In this article renewable energy support allocation through different types of auctions are assessed. The applied methodological framework is auction theory, based on the rules governing the German photovoltaic (PV) Feed-in Premium (FIP) auctions. The work focuses on bidding strategies based on an extended levelised cost of electricity (LCOE) methodology, comparing two different set of rules: uniform price and pay-as-bid. When calculating the optimal bids an iteration is developed to find the Nash-equilibrium optimal bidding strategy. When searching for the bid function, not only strictly monotone functions, but also monotone functions are considered, extending the framework typically applied in auction theory modelling. The results suggest that the PV support allocation in the German auction system would be more cost efficient using the uniform pricing rule, since many participants bid above their true valuation in the pay-as-bid auction Nash-equilibrium. Thus from a cost minimising perspective, the application of uniform pricing rule would be a better policy decision.

Addictive auctions: Using lucky-draw and gambling addiction to increase participation during auctioning

Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have taken measures to increase trust among participants towards their auction system, but trust alone cannot ensure a high level of participation. We propose a new type of auction system which takes advantage of lucky draw and gambling addictions to increase the engagement level of candidates in an auction. Our system makes use of security features present in existing auction systems for ensuring fairness and maintaining trust among participants.

The Prisoners\u2019 Dilemma in collaborative carriers\u2019 request selection

Logistics providers have to utilize available capacities efficiently in order to cope with increasing competition and desired quality of service. One possibility to reduce idle capacity is to build coalitions with other players on the market. While the willingness to enter such coalitions does exist in the logistics industry, the success of collaborations strongly depends on mutual trust and behavior of participants. Hence, a proper mechanism design, where carriers do not have incentives to deviate from jointly established rules, is needed. We propose to use a combinatorial auction system, for which several properties are already well researched but little is known about the auction’s first phase, where carriers have to decide on the set of requests offered to the auction. Profitable selection strategies, aiming at maximization of total collaboration gains, do exist. However, the impact on individual outcomes, if one or more players deviate from jointly agreed selection rules is yet to be researched. We analyze whether participants in an auction-based transport collaboration face a Prisoners’ Dilemma. While it is possible to construct such a setting, our computational study reveals that carriers do not profit from declining the cooperative strategy. This is an important and insightful finding, since it further strengthens the practical applicability of auction-based trading mechanisms in collaborative transportation.

Economic calculation and transaction costs: The case of the airline oversales auction system

Economic calculation and transaction costs: The case of the airline oversales auction system

دراسة تحليلية لسلسلة القيمة لمحصول البطاطس بمحافظة المنوفية

دراسة تحليلية لسلسلة القيمة لمحصول البطاطس بمحافظة المنوفية

The Role of Blockchains in Multi-Stakeholder Transactive Energy Systems

Power grids are undergoing major changes due to rapid growth in renewable energy and improvements in battery technology. Prompted by the increasing complexity of power systems, decentralized solutions are emerging that arrange local communities into transactive microgrids. This paper addresses the problem of implementing transactive energy mechanisms in a distributed setting, providing both privacy and safety. Specifically, we design and implement an automated auction and matching system that ensures safety (e.g., satisfaction of line capacity constraints), preserves privacy, and promotes local trade and market efficiency for transactive energy systems. This design problem is challenging because safety, market efficiency, and privacy are competing objectives. We implement our solution as a decentralized trading platform built on blockchain technology and smart contracts. To demonstrate the viability of our platform, we analyze the results of experiments with dozens of embedded devices and energy production and consumption profiles using an actual dataset from the transactive energy domain.

Analisis Penerapan Syariah Pembiayaan Rahn Emas

Abstract: This study aims to determine whether the principles of sharia are applied and the financing of gold in the Sharia Pawnshop Mertoyudan Branch Office, whether it is in accordance with sharia principles in accordance with the established rules. This study uses qualitative methods using primary data, namely through direct interviews with the parties concerned and observation. In addition to primary data as well as secondary data taken through books, journals, internet, and previous research, the data obtained are not numbers but information related to this research. The result of this research is that the gold rahn financing in sharia pawnshops uses a combination of two contracts, namely the rahn contract and the ijarah contract. The ijarah rates set are based on the size of the loan. The legal basis used is based on Al-Qura'an Surat Al-Baqarah ([2]: 283), Bukhari Muslim's Hadith, and the Fatwa of the National Sharia Council of the Indonesian Ulema Council No.25 / DSN-MUI / III / 2002. The auction system implemented in the Sharia Pawnshop Mertoyudan Branch Office is in accordance with the Fatwa of the National Sharia Council of the Indonesian Ulema Council No.25 / DSN-MUI / III / 2002 regarding rahn, but the status of gold rahn collateral is still questionable whether it is in accordance with sharia principles or not yet because the Mertoyudan Branch Office Sharia Pawnshop doesn't pay attention to the status of the collateral.
 Keywords: Gold Rahn, Sharia Principles, Financing.

A tree structure-based improved blockchain framework for a secure online bidding system

The BlockChain (BC) is considered as one of the most exciting developments in information and communication technology in the past decade and is widely known as a crypto intensive phenomenon. Achieving an efficient solution (e.g., decentralization, immutability, security, and transparency) using BC requires a considerable range of factors, such as: scalability, security, and privacy, which have a profound role in determining an overall solution’s performance. Meanwhile, digital auctioning is one of the cornerstones of the modern Internet economy. Many of the existing auctions are open-bid auction systems where all bids are made open to either party. E-auctions rely on human resources, and often require the services of a third-party intermediary, which leads to a high cost in terms of money and time, and there is no guarantee that the third party is trustworthy. Moreover, BC’s efficiency is a big challenge for large databases, particularly when the bidding system encompasses multiple options with geographically dispersed users. To address these issues, this paper proposes a BC-based framework for an open-bid auction system, for which privacy and security constraints are considered with different cryptographic primitives. The novelty of this framework derives from an enhanced approach for integrating BC structures by replacing the original chain structure with a tree structure. Throughout the online world, user privacy is a primary concern, because the electronic environment enables the collection of personal data. Hence this paper proposes a suitable cryptographic protocol for an open-bid auction atop BC. Here, the primary aim is to achieve security and privacy with greater efficiency, which largely depends on the effectiveness of the encryption algorithms used by BC. Essentially this paper considers Elliptic Curve Cryptography (ECC) and a dynamic cryptographic accumulator encryption algorithm to enhance security between auctioneer and bidder. The proposed e-bidding scheme and the findings from this study should foster further growth of BC strategies.

Smart Method for Self-Organization in Last-Mile Parcel Delivery

Parcel delivery operators experience an increasing pressure to meet the strongly growing demand for delivery services, while protecting city livability and the environment. Improving the performance of the last mile of delivery is considered key in meeting this challenge as it forms the most inefficient, expensive, and environmentally unfriendly part of delivery operations. A primary cause is a significant duplication of service areas, resulting in redundant vehicle kilometers traveled. In this paper, a new method is presented that allows for the allocation of parcels to delivery vehicles and construction of vehicle routes in real time through an auctioning system. These tasks are performed in a self-organizing manner by vehicles, parcels, and a supporting platform, to allow for collaborative and intermodal delivery. The performance of this new method is tested and compared against the currently used techniques using an agent-based simulation model. The new method manages to greatly improve the efficiency, robustness, and flexibility of delivery operations.

Permissioned blockchain based public procurement system

Hundreds of public procurement projects are undertaken every day all over the country. The tenders for these projects are given to the winning contractor in an auction-like setting which have massive security issues. After a contractor wins a tender, the specifics of the progress of the work done are rarely properly monitored. The details of the finances spent on the project can be easily manipulated. To enable integrity, non-repudiation and immutability to the data requires the desirable technology to support the above requirements. Hence, the proposed system uses blockchain technology to provide transparency and trust to all parties involved in the network. The entire system consists of two modules such as the Tender Bidding system and Tender Monitoring system using a multi-organization blockchain network in the Hyperledger Fabric. The whole bidding process is improved by creating a decentralized descending auction system that will carry it out fairly and transparently. The Tender Monitoring system employs a custom endorsement policy to attain 100% consensus for attesting every transaction made regarding the progress of the project so that vital steps are ratified and recorded with evidence supporting their integrity. The main aspects of the system, its many components, deployment and drawbacks are viewed.

On the optimized design of next-generation wind farms

A transformation from fossil fuels to renewable energy has been ongoing in recent years, driven by growing environmental and sustainability demands from customers and society. An increased use of renewable sources can, in particular, help during climate change, which is a very sensitive topic right now.Because demand for green energy is increasing, while competition is also growing, innovation and optimization are of key importance in this business. In particular, because the offshore wind energy market is based on an auction system: the company that can construct and operate the farm with the lowest subsidies will win the auction and capitalize on its investment. It is therefore extremely important to both minimize costs and increase profits at the design phase of new farms. In this paper we will illustrate how Operational Research techniques can help companies be more competitive on the market. To be specific, we address two of the main design challenges arising in the design of new offshore wind farms, the optimal allocation of wind turbines (to minimize interference between them and position-related costs) and their electrical interconnection. We show that a synergic use of mixed integer programming models and heuristic methods in the so-called matheuristic framework can be used to solve both problems efficiently.The optimization tools that we will describe have been used also for the design of Hollande Kust Zuid, the first offshore wind farm in the world to be constructed subsidy-free. We report results on a number of real instances, showing the impact of these techniques in decreasing costs and increasing profitability, with average gains of more than € 10 M for each wind farm.