Bidding Rounds Research Articles

Fairness-Aware Competitive Bidding Influence Maximization in Social Networks

Competitive influence maximization (CIM) has been studied for years due to its wide application in many domains. Most current studies primarily focus on the microlevel optimization by designing policies for one competitor to defeat its opponents. Furthermore, current studies ignore the fact that many influential nodes have their own starting prices, which may lead to inefficient budget allocation. In this article, we propose a novel competitive bidding influence maximization (CBIM) problem, where the competitors allocate budgets to bid for the seeds attributed to the platform during multiple bidding rounds. To solve the CBIM problem, we propose a fairness-aware multiagent CBIM (FMCBIM) framework. In this framework, we present a multiagent bidding particle environment (MBE) to model the competitors’ interactions and design a starting price adjustment mechanism to model the dynamic bidding environment. Moreover, we put forward a novel multiagent CBIM (MCBIM) algorithm to optimize competitors’ bidding policies. Extensive experiments on five datasets show that our work has good efficiency and effectiveness.

신탁공매시 우선수익자의 채권회수 특징에 관한 연구

This study conducted an empirical study through practical cases of real estate trust companies in order to find out what characteristics the trust auction had for the preferred beneficiary, who is the creditor, when collecting the debt of the preferred beneficiary. The relationship between the recovery rate and other trust auction variables was identified.
 As a result, it was confirmed that the form of preferred beneficiaries was changing over time. Looking at the time when the preferred beneficiary, which is a financial company, exercised the right to dispose of through a trust auction and utilized the advantages of the trust to the fullest, from 2010 onwards, savings banks, credit unions, and Saemaul Credit Co. was found to be doing
 Next, as a result of comparing and analyzing the characteristics related to the public sale by preferred beneficiary, no statistically significant results were found except for principal and interest, appraisal amount, execution round, and successful bid round. This means that there are no characteristics of preferred beneficiaries in the method of collecting receivables using trust auction. As mentioned earlier, the preferred beneficiary can set the amount to be recovered through trust auction, and can also set the sale method and execution period. Other variables are determined according to the regulations within the trust company, and the regulations do not differ for each preferred beneficiary. Therefore, it suggests that there is no difference in the variables of each preferred beneficiary in the trust auction. In this study, data and variables were set with information collected in practice, and an empirical analysis was conducted to identify the characteristics of actual preferred beneficiaries when collecting receivables through trust auction. Trust auction is legally close to private sale, but since it is a procedure that requires public trust and fairness, we believe that it can be an important method for collecting the debts of preferred beneficiaries. I hope you can.

Real-time large-scale supplier order assignments across two-tiers of a supply chain with penalty and dual-sourcing

Supplier selection and order allocation (SSOA) are key strategic decisions in supply chain management which greatly impact the performance of the supply chain. Although, the SSOA problem has been studied extensively but less attention paid to scalability presents a significant gap preventing adoption of SSOA algorithms by industrial practitioners. This paper presents a novel multi-item, multi-supplier double order allocations with dual-sourcing and penalty constraints across two-tiers of a supply chain, resulting in cooperation and in facilitating supplier preferences to work with other suppliers through bidding. We propose Mixed-Integer Programming models for allocations at individual-tiers as well as an integrated allocations. An application to a real-time large-scale case study of a manufacturing company is presented, which is the largest scale studied in terms of supply chain size and number of variables so far in literature. The use case allows us to highlight how problem formulation and implementation can help reduce computational complexity using Mathematical Programming (MP) and Genetic Algorithm (GA) approaches. The results show an interesting observation that MP outperforms GA to solve SSOA. Sensitivity analysis is presented for sourcing strategy, penalty threshold and penalty factor. The developed model was successfully deployed in a large international sourcing conference with multiple bidding rounds, which helped in more than 10% procurement cost reductions to the manufacturing company.

E&P Notes (December 2022)

E&P Notes (December 2022)

E&P Notes (November 2022)

E&P Notes (November 2022)

E&P Notes (August 2022)

E&P Notes (August 2022)

E&P Notes (March 2022)

E&P Notes (March 2022)

E&P Notes (December 2021)

E&P Notes (December 2021)

E&P Notes (October 2021)

E&P Notes (October 2021)

E&P Notes (August 2021)

E&P Notes (August 2021)

Brazil and the Implementation of Article 82 of the United Nations Convention on the Law of the Sea: Setting the Stage for the Bidding Rounds

Abstract This article analyses the challenges that Brazil faces in implementing Article 82 of the United Nations Convention on the Law of the Sea (LOSC), which imposes a levy with respect to the exploitation of non-living resources on the continental shelf beyond 200 nautical miles. First, it presents the developments made by Brazil with reference to Articles 76 and 82 of the LOSC, which are closely associated. Then, legal opinions and the conclusions of the Working Group (created to discuss the implementation of Article 82 in Brazil) are examined. Lastly, the tender protocol and the draft concession agreement for the ongoing bidding round – which includes blocks on the outer continental shelf – are considered. The article argues that the conclusions of the Working Group and core provisions of the relevant documents may compromise the proper implementation of Article 82 and impact the future relationship between Brazil and the International Seabed Authority.

Auctioning a ‘just energy transition’? South Africa’s renewable energy procurement programme and its implications for transition strategies

ABSTRACT Clean energy is going transnational. Following the COP21 UN Climate Change Conference in December 2015, a roll-out of clean energy schemes in the global South is fostering a global energy transition. One such case is South Africa, where a policy innovation – the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) – was introduced in 2011. While REIPPPP seems to be a success story in terms of renewable energy capacity, it is unclear how the instrument is shaping the overall course of South Africa’s green transformation regarding the influence of transnational actors, participation in local ownership, and socio-economic benefits. Based on expert interviews and empirical process tracing of the renewable energy projects during the five bidding rounds of REIPPPP (2011–2016), the article analyses the design and effects of REIPPPP and discusses its implications for transition strategies, such as a ‘just transition’.

E&P Notes (June 2021)

E&P Notes (June 2021)

An integrated water injection solution for Southern oilfields of Iraq

After two bid rounds of oilfields, moo has planned a plateau oil production of 12mmbblsd in 2017. in order to reach the plateau production, most of the oilfields require water injection to maintain the reservoirs‟ pressure. there are three main challenges in water injection. firstly, where could the urgent water resource be available in the rehabilitation phase of the brown oilfields? secondly, how could the high amount of produced water be handled at the late stage of the oilfields? thirdly, what kind of sweeping efficiency could the reservoirs be developed by water flooding? Dump flood, produced water treatment and reinjection, combined with separate layers‟ water injection could be an integrated solution for southern oilfields of iraq.

Examining transfer of rights surplus—Brazilian case

ABSTRACT At the end of 2019, Brazil realized an enormous offshore premium assets under the ‘Transfer of Rights’ (TOR) regime. It was a key milestone that later set in motion the largest oil bidding round in history, according to the Brazilian authorities. TOR is a regime that deviates from the general rule of holding bids prior to the granting of oil & natural gas E&P rights. No legal dispositive was able to predict the possibility which impose Brazilian government design an innovative portfolio of regulations in order to achieve high productivity and profitability. A new regulatory framework was created to support the decision makers. Transference of Rights Surplus came to lead with surplus volume bidding rounds. Future biddings will take place at another level of institutional maturity to deal with the situation, and takes advantage of the learning and tools already developed. It is expected that the changes being discussed will bring attractiveness to the offer of the areas in the current scenario.

E&P Notes (April 2021)

E&P Notes (April 2021)

Fiscal and tax terms and economic evaluation methods for oil and gas projects in Abu Dhabi

The Middle East is the region with the lowest oil and gas production cost in the world and has always been the key area for investment by oil companies. With the large-scale bidding after the Iraq War, the number of bidding blocks provided annually in the Middle East has been greatly reduced, and the number of bidding blocks provided by the UAE government is relatively large. After the expiration of the existing contracts in 2014, the UAE government started block bidding and auction on a large scale, and offered favorable contract terms. The assets with great investment values attracted international oil giants. In this paper, based on the survey of bidding contracts of Abu Dhabi in recent years, fiscal and tax terms, demand markets, prices and costs to be focused on have been sorted out, an economic evaluation model for bidding blocks in Abu Dhabi has been established, and evaluation conclusions have been drawn through financial analysis and uncertainty analysis. Finally, the applicability of the economic evaluation analysis method and evaluation procedure has been verified through examples, so as to provide reference and enlightenment for international oil companies to participate in the new round of bidding of the UAE in the future.

Renegotiating public-private partnerships

Public-Private Partnerships (PPPs) are frequently renegotiated as their contracts are long-term, often with a duration exceeding 30 years, involve major investments, and are necessary incomplete. Still, while contract incompleteness is difficult to prevent, renegotiation frequency does not decline in spite of decades of experience. Electoral cycles and political connections lead to strategic behaviour by both the public sector, intending to please the electorate, and the private entity, often taking advantage of the fact that the government cannot afford disruption in public services prior to elections. The bargaining power is held mainly by private firms/corporate consortiums who extract additional rents to compensate for underbidding at the initial bidding rounds. When a consortium dominated by a foreign firm, the frequency of negotiations is higher but the extraction of rents from renegotiations is lower, reflecting a lower degree of political connectedness. Experience with PPP projects does not reduce the likelihood of subsequent renegotiations. In spite of the recommendations of the PPP supervisor (the Court of Audit), the public sector has not implemented improvements in contract design and renegotiations clauses of PPP contracts.

Use of auctions to assess consumer value for fresh and end-of-code milk

The objective of this study was to survey consumers' milk purchasing behavior and investigate the effect of sensory experiences and an educational message on the perceived value of fluid milk at the beginning and near the end of code. Eleven auction sessions were carried out (n = 100 consumers), which included an explanation of the experiment, a survey about demographics and milk purchasing and consumption, sensory evaluation, an educational message, and 3 rounds of nth price auctions. Consumers were blindly served 2 pairs of milk samples from white-pigmented high-density polyethylene [2% and skim milk within 2 to 3 d of production (fresh) and 2% and skim milk with 2 to 3 d until the end of code (near-end)], and asked to indicate their preference and the level of acceptability for each sample using a 7-point hedonic scale. All samples were simultaneously evaluated by a panel of 8 judges who were trained to evaluate milk quality attributes on a 15 cm unstructured line scale. Results from the consumer panel acceptability rating session, trained panel descriptive analysis, and consumer auction bids were analyzed using multivariate factor analysis of variance. Subjecting pre- and post-survey responses to k means cluster analysis revealed 4 bidding populations in each round. Most participants (82%) indicated that they check the code date on milk every time they shop; 77% said they reached for the code date that was farthest out every time. However, on blind tasting, consumers did not prefer fresh over near-end milk. These findings were in agreement with their acceptability scores for fresh 2% (5.0/7.0), near-end 2% (5.2/7.0), fresh skim (4.5/7.0), and near-end skim (4.6/7.0) milks. Trained panelists did not detect a difference in "lacks freshness" flavor in fresh skim (1.9 cm/15.0 cm) or near-end skim milk (1.3 cm). Surprisingly, trained panelists did detect higher "lacks freshness" flavor in 1 lot of fresh 2% (2.3 cm) compared with near-end 2% milk (0.3 cm). When consumers bid on half gallons of milk with visible code dates, fresh skim was valued $0.27 higher than near-end skim, and fresh 2% was valued $0.29 higher than near-end 2%. After blind sensory evaluation, the margin between the fresh and near-end bids decreased to almost zero (fresh skim was valued only $0.03 more than near-end skim; near-end 2% was valued $0.01 more than fresh 2%). After the educational message about the meaning of code dates, consumer bids for near-end ($0.63) and fresh milk ($0.81) decreased compared with the first round of bidding ($0.74 and $1.01, respectively). Additionally, the margin in bids for fresh milk remained numerically higher than those for near-end milk ($0.15 for 2% and $0.21 for skim). The educational message about code date did not have the intended result of increasing consumer value for milk. Although consumers go out of their way to buy the freshest milk, they cannot necessarily distinguish fresh milk from milk at the end of code; consumers appear to value a code date that was farther out more than superior taste, even after a sensory experience and educational message.

A Novel Particle Swarm Optimization Approach to Support Decision-Making in the Multi-Round of an Auction by Game Theory

In this paper, game-theoretic optimization by particle swarm optimization (PSO) is used to determine the Nash equilibrium value, in order to resolve the confusion in choosing appropriate bidders in multi-round procurement. To this end, we introduce an approach that proposes (i) a game-theoretic model of the multi-round procurement problem; (ii) a Nash equilibrium strategy corresponding to the multi-round strategy bid; and (iii) an application of PSO for the determination of the global Nash equilibrium point. The balance point in Nash equilibrium can help to maintain a sustainable structure, not only in terms of project management but also in terms of future cooperation. As an alternative to procuring entities subjectively, a methodology using Nash equilibrium to support decision-making is developed to create a balance point that benefits procurement in which buyers and suppliers need multiple rounds of bidding. To solve complex optimization problems like this, PSO has been found to be one of the most effective meta-heuristic algorithms. These results propose a sustainable optimization procedure for the question of how to choose bidders and ensure a win-win relationship for all participants involved in the multi-round procurement process.