Winner Of Auction Research Articles

Herding behavior in NFT Auction: The role of visual complexity and familiarity

Despite the growing popularity of non-fungible tokens (NFTs) in the market, they still lack established valuation guidelines. Invoking herding and auction theories, this study investigates how NFT collectors’ bidding tendencies are influenced by other collectors’ bidding decisions (herding behavior). This study also examines how NFT visual characteristics, such as complexity and familiarity, moderate herding behavior. We use a computer vision technique to quantify the visual complexity of an NFT and apply transfer learning to capture its visual familiarity. Examining data from a widely used NFT platform, we find evidence of herding behavior in such auctions. Furthermore, our results show that there are nonlinear moderating effects of visual characteristics on herding behavior. Specifically, we find that consumers exhibit a stronger herding tendency at the two extremes of complexity distribution and at the lower extreme of familiarity distribution. Further analysis of the NFT resale market suggests that auction winners consider herding in the primary sale of an NFT as a signal of high demand; thus, they are more willing to resell it and set a higher price premium in the resale. These findings can be taken as input by the NFT market platforms in their NFT display decisions to boost primary market sales and promote resale market participation. The findings can also help content creators formulate creative strategies that lead to higher bidding probability or sales performance.

Legal Protection of Auction Winners Against the Execution of Dependent Rights

According to Article 14 of the Law on Dependency Rights, dependency right enforcement can be executed through a parate of execution or a fiat execution by State courts. However, legal certainty is not absolute; if a debtor fails to repay the debt, the creditor's liability is settled by selling the secured object through a public auction. This study investigates the legal consequences of the auction process, particularly the transfer of auctioned property rights to the winner. Using empirical juris and analytical descriptive research, primary and secondary data were gathered through library research and qualitatively analyzed. Auction winners may request the local state court to vacate the object if possession is unattainable under the law. An auction letter, as an authentic act, protects auction winners against normative enforcement of dependency rights. Nonetheless, the law lacks explicit protection for third parties and auction winners regarding possession, resulting in legal uncertainty.

The Validity of The Deed of Sale and Purchase and the Deed of Granting Rights and Legal Consequences for the Winner of the Auction Based on a Mock Agreement

The validity of a covenant must meet 4 conditions, namely an agreement that binds him, the ability to make an agreement, about a certain matter, and a lawful cause. One example is in the Supreme Court Decision Number 655 K / Pdt / 2014 and Review Decision Number 636 PK / Pdt / 2016, there are differences in decisions regarding the Deed of Sale and Purchase and the Deed of Granting Rights of Dependents on the basis of a mock agreement. This study aims to analyze the validity of the sale and purchase deed and the deed of granting dependent rights as well as the legal consequences for the auction winner based on a mock agreement. The research method used is normative juridical, with a statutory approach, a conceptual approach, and a case approach. The data used in this study are secondary data obtained from literature studies. The results of the research obtained are the Validity of the Deed of Sale and Purchase of land rights based on receivables in the Supreme Court Decision Case Number 655 K / Pdt / 2014 states that the Sale and Purchase Deed made by PPAT is invalid and null and void. This is because in making the Deed of Sale and Purchase by PPAT based on the temple agreement made by a Notary, it does not meet the material requirements of an authentic deed, namely the non-fulfillment of the elements of a halal cause as stipulated in Articles 1335 and 1337 of the Civil Code, thus it also cancels the crossing out of the name in the land certificate from the Plaintiff to the Defendant carried out by BPN. In the decision of Review Decision Number 636 PK / PDT / 2016 stated that the Deed of Sale and Purchase and Deed of Granting Rights of Dependents were valid and there was no pretend agreement. The winner of the auction based on the Minister of Finance Regulation No. 93/2010 on auction implementation guidelines is the buyer who submits the highest bid and is certified as the winner of the auction by the Auction Officer. Article 41 paragraph (1) of Government Regulation No. 24/1997 on land registration explains that the transfer of land rights through transfer of rights by auction can only be registered if proven by quotation of auction minutes made by auction officials.

Urgensi Perlindungan Hukum terhadap Pemenang Lelang Eksekusi yang Menjadi Korban Tuntutan Hukum Oleh Pihak Debitur

Auctions always end with a lawsuit by the Debtor. The basic of his lawsuit is always the classic reason that the Debtor still seeks to pay, that the auctioned object is of low value. This is the trigger for the lawsuit made by the Debtor. The minutes of the auction were not enough for the winner of the auction to stop the Debtor from challenging the verdict. This led to a dispute in court. As the winner of the auction of course it is a matter that is not easy, auction winner needs final legal certainly. The absence of a separate court for the auction lawsuit is a difficult thing for the parties to get a settlement quickly and effectively. Legal protection against the auction winner has been set pasal 6 (UUHT) and Pasal 4 Undang Undang Hak Tanggungan (UUHT) said “apabilah Debitur cidera janji, Pemenang Hak Tanggungan pertama mempunyai hak untuk menjual obyek Hak tanggungan atas kekuasaan sendiri melalui pelelangan umum serta mengambil pelunasan piutangnya dari hasil penjualan”. From the auction results of the execution of Pasal 6 UUHT, the auction official issued an excerpt of the auction minutes which served as an authentic deed of transfer of right. However, this legal protection still open up opportunities for debtors to sue.

Resistance Against Cancellation of Auction Execution on Mortgage Rights Guarantee

This research aims to determine the resistance to cancellation of auction for the collateral object of the mortgage right and the creditor’s responsibility toward the auction winner, when, the object of the mortgage right has a lawsuit against the creditor from another party. The research method used in this research is a normative juridical research method. The research results show that the auction cannot be canceled if it complies with existing regulations and procedures as regulated in PMK.No.213/PMK.06/2020 concerning instructions for carrying out auctions. Creditors can be held responsible if an auction is canceled after the auction has been executed as regulated in Minister of Finance Regulation, PMK No. 213/PMK.06/2020 concerning instructions for implementing auctions. Creditors must ensure the validity of the mortgage object being auctioned. So, if the creditor is negligent in this matter, it is the responsibility of the creditor (auction seller) to provide compensation for third-party losses.
 Keywords: cancellation, auction execution, guarantee, mortgage

Методичні аспекти ціноутворення на ринках теплової енергії за аукціонного підходу

The development of competition in the heat energy markets with main heating networks is possible on the basis of the organization of unilateral heat auctions between heat producers. A prerequisite for opening competition in the heat energy markets is the separation of heat generation and heat networks, as well as the provision of regulated access to heat networks for independent producers. In terms of time segmentation, it is advisable to introduce: annual auctions, where basic heat needs are being contracted; monthly auctions – for peak needs, and daily auctions – for hourly imbalances. The article proposes organizational and technological regulations for conducting annual heat auctions, which should cover 80–90% of heat needs. Heat auctions should function according to the declared pricing method, where the producers who are the auction winners receive income for the contracted volumes of heat generation at a given price, while consumers pay a single weighted average price. Heat auctions operate under centralized dispatching, which provides for the coordination of physical and commercial heat energy flows, taking into account the technical specifics of heat networks. The article substantiates variants of economic and mathematical models of auction pricing in the heat energy market with different configurations of heat networks. As such a configuration, are considered heating networks with: 1) unlimited flow connections; 2) insulated heat producers; 3) system restrictions on throughput capacities within the heating area; 4) one-way and 5) two-way flows between adjacent heating areas. Establishment of a fair price for heat energy is reduced to solving the function of minimizing the weighted average price of heat energy for consumers under the following conditions: a) full satisfaction of consumer demand for thermal energy; b) technical capabilities of heat generation; c) connections and throughput capacities of heating networks within the heating area; d) directions of flows and capacity between adjacent heating areas. Each heat network represents a unique configuration of these conditions, therefore, the solution of the economic and mathematical problem of setting the auction price for heat energy will be different in each local heat market. Approbation of the proposed approach proves that with a large number of regulatory and systemic restrictions within the heating area, the price of thermal energy will increase, while bilateral flows of thermal energy between adjacent heating areas lead to a decrease in the price of thermal energy. The proposed methodological aspects of auction pricing for thermal energy should be introduced in large and medium-sized settlements with trunk networks, which will allow independent heat producers who work on renewable energy sources or have excess and waste heat to integrate into the market, contributing to the decarbonization of the city and the country as a whole.

Kepastian hukum terhadap pemenang lelang dalam lelang agunan bank (Studi Kasus pada Putusan Nomor 193/PDT.G/2019/PN.PTK)

Using common violations, the Law on Liability gives the creditor the privilege of executing the object in his power. Furthermore, repayment of receivables is taken from the proceeds of the auction with priority rights from other creditors. Through Pirate Execution based on the executory title stated in the Certificate of Dependent Rights Following the provisions of Article 11 paragraph (2) letter KUUHT, APHT stipulates the emptying of the object of the dependent right at the time of execution of the dependent right, so that the debtor is obliged to follow the auction decision and has no reason to refuse the emptying. In the Universal People's Credit Bank, there was a conflict because the debtor did not pay the receivables following the previous agreement. As a result, the creditor, the Universal People's Credit Bank in Pontianak, executed the guarantee through a public auction. However, the debtor made legal efforts to oppose (verzet), and the debtor filed an objection in case No.193/Pdt.G/2019/PN. Ptk.The winner of the auction cannot reverse the name or control the auction results. This study used a normative jurisprudence law approach. This method deals with problems by studying the provisions of applicable laws and regulations. The focus of this study is descriptive analysis. Therefore, the decision of civil case No. 193/Pdt.G/2019/PN.Ptk, Deed of Auction Minutes No. 492/53/2020, Law No. 10 of 1998, Law on Dependent Rights No. 4 of 1996, Basic Agrarian Law No. 5 of 1960, and Minister of Finance Regulation No. 213/PMK.06/2020 concerning Technical Guidelines for Auction Implementation are the subjects of this study. The research reveals the efforts of the block applicant and the Land Office to file an Unlawful Action lawsuit with the Court to remove the block as legal protection for the auction winner. The winner of the auction can also ask the District Court to stop the auction object. In decision number 193/Pdt.G/2019/PN.Ptk, the Panel of Judges stated that the object of the dependent rights used by the Plaintiff as collateral has the same executory power as a court decision that has permanent legal force. Under the executory title, an execution auction can be conducted directly, and the debtor must leave or vacate the property of the lien. Because it has violated the civil rights of others, the plaintiff's actions are included in the category of unlawful actions. To avoid juridical obstacles, the government should be able to amend and add clauses in the UUHT by giving authority or directly appointing bailiffs and police officers to execute collateral emptying as evidenced by the deed of auction minutes to ensure legal certainty in the process of execution of dependent rights. Thus, KPKNL and the Bank can synergize with these rules by carrying out auction execution procedures

Auction for the Execution of Dependent Rights Related to Customers in Default at Bri Kalianda (Case Study of Supreme Court Decision Cassation Number: 310/K/Pdt/2023)

The bank as a creditor cannot be harmed by bad credit. Efforts to avoid bad credit are carried out by taking anticipatory steps in the form of a guarantee mechanism for debt repayment. This mechanism is an anticipatory step in the event of bad credit by the debtor. The problem formulation in this research is (1) Does the auction execution have to meet the on-rechtmatige daad? (2) What are the legal consequences of the auction for the execution of mortgage rights in the Cassation Decision Number: 310/K/Pdt/2023? (3) What are the obstacles in carrying out the auction for the execution of mortgage rights? The method used in this research is descriptive normative, with data sources obtained from laws, books, journals, articles, etc. The results of this research are the conditions for an unlawful act, namely, firstly, there is an unlawful act, decision Number 310/K/Pdt/2023, the plaintiff is a bad credit debtor, which is an unlawful act. Since August 2018, the debtor has been in arrears in carrying out his obligations to make credit payments in installments, secondly there is an error, namely he has committed a default (default) on working capital credit, thirdly there is a loss, there is causality. The legal consequences of the Auction for the Execution of Mortgage Rights in the Cassation Decision Number: 310/K/Pdt/2023 do not conflict with applicable law, and have met standard requirements. The implementation of the auction in decision 310 K/Pdt/2023 has been carried out by KPKNL Bandar Lampung in accordance with the provisions of the regulation of the Minister of Finance of the Republic of Indonesia Number 27/PMK/06/2016/ Concerning instructions for implementing the auction and based on the auction minutes number 255/20/2020/ dated 16 April 2020 there was an auction winner, namely Ms Eva.S. Judex Facti/ Tanjong Karang District Court in this case does not conflict with the law and/or statute, so there are no obstacles in carrying out the auction, because the plaintiff has defaulted (breach of contract).

Legal Protection for Buyers of Mortgage Rights Execution Auctions in the Case of Blocking the Certificate of Ownership which becomes the Object of the Auction

Introduction: Article 45 paragraph 1 letter e creates legal uncertainty regarding the rights of the auction winner in terms of transfer of rights and control of the auction object due to a blockade from the debtor or other party.Purposes of the Research: The purpose of this research is to examine the legal certainty of Article 45 Paragraph 1 Letter e of Government Regulation No. 24 of 1997 concerning Land Registration against blocking of auction objects and legal protection for auction winners executing mortgage rights in the event of blocking of auction objects.Methods of the Research: The research method used is normative legal research.Results of the Research: The results of the study show that the form of legal protection for the auction winner is preventive legal protection, in which the name transfer process by the auction winner should still be carried out by understanding the meaning of Article 45 paragraph 1 lettere, namely the material claim or dispute referred to is limited to ownership disputes, not debts. Furthermore, legal protection is repressive, i.e. the auction winner can request assistance from the District Court to empty the object. The auction winner can hold the seller accountable in the form of compensation, and the auction winner can file a lawsuit against the unlawful act against the blockade applicant and the Land Office as the institution authorized to carry out block records.

Pemenang Lelang Eksekusi terhadap Jaminan Tanah yang Belum Bersertifikat

The large number of people who do not have proof of land ownership is an obstacle in obtaining credit from banks. However, responding to this, the bank allows the bank to be able to accept credit submitted to it. However, it becomes a problem when the auction winner wants to transfer the rights to the land, it cannot be done because the land has not been certified, which results in the auction winner not being able to pay the BPHTB. The research method used is normative legal research. Legal regulations regarding auctions for land that have not been certified are contained in Article 41 Paragraph 4 of the PP on land registration, Articles 76 and 108 of the Regulation of the Minister of Land Registration, Article 34 of PMK Implementation of auctions. Meanwhile, the conflict that occurred was Article 83 of the PMK for the Implementation of the Auction, which required the auction winner to pay BPHTB, while Article 2 of the BPHTB Law states that land that has not been certified does not include land rights. The solution provided by the author is: the head of the land office and the head of the KPKNL provide concessions for BPHTB payments and change the laws and regulations related to allowing uncertified land to be auctioned.

Legal Status of Execution of Liability Auction Winner through Parate Executie

Legal Status of Execution of Liability Auction Winner through Parate Executie

Selection bias in multi-technology auctions: How to quantify and assess efficiency implications in renewable energy auctions

We develop a concept to identify and quantitatively assess technology selection bias in multi-technology renewable energy auctions. We show that simple price rules are insufficient to efficiently select winning projects in multi-technology tenders when they incorporate individual costs of producers only, and exclude system effects, market benefits and external costs. With our concept of quantifying unit social value, all relevant external elements can be incorporated in the evaluation. The introduction of an objective measure (as difference of differences between unit social value and auction bid prices) allows the quantitative assessment of systematic selection bias between technologies under different remuneration designs. We illustrate our concept by applying it to generic European renewable energy technologies (wind and solar energy) and major applied remuneration types (contract-for-difference and fixed premium schemes). We also show that are concept is applicable for real auction data, by presenting a case study about Italy. The main conclusion of the study is that selection by price only, can constitute a systematic bias for all investigated remuneration designs. Both schemes are in our case biased toward a given technology. The internalisation of external cost may not necessarily lead to better social outcomes in the selection of auction winners, as it can be overshadowed by the initial bias of the chosen remuneration design. We conclude that considerate design, including the potential differentiation of rules, e.g., through introduction of a technology bonus, to minimise selection bias, and careful monitoring of the competitive situation between participating technologies in a multi-technology auction are required to ensure efficient selection.

Analyzing Legal Ramifications for Auction Winners: A Case Study of Bekasi and Makassar Court Decisions on Auction Cancellations

This article starts with the auction of the valid execution and in accordance with the minutes of auction of the Bekasi State Wealth and Auction Service Office (KPKNL) Number 225/2013 with the winner of the auction in good faith, but the auction was canceled by the court in the decision of the Bekasi State Court Number 412/Pdt.G/2015/PN.Bks on the claim of the legal owner of the collateral object against Auction applicant. The creditor filed for the execution of the dependent rights under Article 6 of the Law on Dependent Rights Number 4/1996 on the basis of default. Furthermore, the decision was appealed and then continued with cassation and finally the Review of case Number 664PK/PDT/2020 with the decision to reject the application for cassation and Judicial Review. Weaknesses in the auction rules result in the rights of auction winners not being accommodated and not protected by law. This article is interesting to researched and is the first time it has happened and has not been regulated in the Technical Guidelines of the Minister of Finance Regulation Number 213/PMK.06/2020. As a comparison, the case in Makassar State Court Number 73/Pdt.G/2023. With the method of statutory approach, cases, and theories of laws, then analyzed in the way of legal reasoning, and interpretation of laws. The results showed the legal consequences of the rights of the auction winners due to court decisions, namely experiencing material losses that must be borne by the Bekasi District Court decision. Solutions offered, updating the Vendu Reglement Ordonantie on the conduct of auctions in Indonesia; perfecting PMK Number 2013/PMK.06/2020 concerning technical guidelines legal. The purpose of the study, to examine the legal consequences of the rights of auction winners because the court decision that decided the auction has no legal force.

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

Choice-Screen Auctions

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google’s Android platform instead of being automatically defaulted to Google’s own search engine. I show that a seemingly minor detail in the design of these auctions—whether they are conducted on a “per appearance” or a “per install” basis—plays a major role in the mix and characteristics of auction winners and, consequently, in their expected market share. Furthermore, per install auctions distort search engines’ incentives. Empirical evidence from Android choice screen auctions conducted in 2020 is consistent with my theoretical results. (JEL D44, D47, K21, L40, L86)

Legal Protection for the Winners of the Execution of Mortgage Rights in the Auction Case of Blocking of Property Rights Certificates (SHM) which Become the Object of the Auction

The purpose of this study is to examine the meaning of the phrase "object of dispute in court" in the provisions of Article 45 paragraph 1 letter e of Government Regulation No. 24 of 1997 concerning Land Registration and In the event that the auction object is blocked, the winning bidders have legal protection when exercising their mortgage rights. Researchers employed a normative juridical research style in this study. The study's findings demonstrate that various parties have different interpretations of Letter E of Article 45 of PP Number 24 of 1997. Land Offices, so that any object of claim including objections to auctions because the limit value is considered low is still used as a reason to refuse registration of a rights transfer by auction. The type of law protection for auction winners, namely preventive protection which is preventive in nature, is still very weak, where The only thing the auction winner can do is wait for the Court's ultimate ruling. Taking legal action is another option to restrictive legal protection. The winning bidder may seek the District Court for help in removing the item. The auction winner can sue Perbuatan Melawan Hukum (PMH) against the Blocking Applicant and The representative for the to conduct the auction is the Land Office. in order to make the seller accountable through payment of damages. the blocking record

Bank Responsibility for Coverage Rights Auction Objects That Cannot be Controlled by the Auction Winner

Article entitled Bank Responsibility for Objects of Mortgage Auctions That Cannot Be Controlled by the Auction Winners. The transaction process for the transfer of land and building rights through an auction is quite easy and simple. As long as the parties involved fulfill their respective rights and obligations in accordance with the provisions of the applicable laws and regulations. Based on the explanation of Article 20 paragraph (1) of Minister of Finance Regulation Number 213/06.PMK/2020 regarding instructions for implementing auctions, auctions must run efficiently, effectively and provide legal certainty. This study aims to develop knowledge regarding bank responsibilities and legal protection for buyers of goods who are unable to exercise control over the object of the mortgage execution auction object. The form of research used in this research is normative, which is researched on legal principles, which are carried out on positive laws made in writing. The conclusion of this study: The bank is fully responsible for the juridical and physical leveraging of the auction object to the auction winner, based on Article 17 of the 2016 Auction Guidelines and Article 13 of the 2020 Auction Guidelines stating that the Seller, in this case Bank X, is responsible for the delivery of movable objects and/or immovable objects. Because basically, the law has regulated that the seller is obliged to guarantee the possession of the goods being sold safely and securely to the buyer. This form of accountability can be in the form of providing mediation so that the debtor wants to vacate the auction object voluntarily or by providing proper direction and coordination to the buyer to apply for an emptying execution or if as a last option, namely by returning payment of the auction price paid by the auction buyer. So that in the future the bank can facilitate the levering process and participate in guaranteeing the mastery of the collateral to hand over the auction object as a form of accountability, it is necessary to make a statement stating that if the debtor defaults, the debtor is obliged to voluntarily vacate the land and building of the mortgage, so that in the future the bank can obtain convenience in handing over the auction object and is also free from claims for compensation filed by the buyer.

Bank Responsibility for Coverage Rights Auction Objects That Cannot be Controlled by the Auction Winner

Bank Responsibility for Coverage Rights Auction Objects That Cannot be Controlled by the Auction Winner

Perlindungan Hukum Terhadap Pemenang Lelang Atas Objek Eksekusi Hak Tanggungan

Carrying out an auction is the payment of the auction object from the buyer to the auction seller, with the aim of paying off the debtor's debt to the creditor. However, in its implementation obstacles often arise such as the auction object cannot be controlled by the winning party. This research aims to determine legal protection for auction winners, as well as other obstacles faced by auction winners. In this research, the approach methods applied include: case approach methods through court decisions and statutory regulations. The legal materials used in this research use secondary legal materials in the form of primary legal materials, secondary legal materials and tertiary legal materials. The results of this research are legal protection for the rights of auction winners in the form of repressive protection contained in HIR, Vendu Regulation, PMK No. 213/PMK.06./2020, and the Civil Code. To obtain their rights, they can make real execution efforts. Meanwhile, in this research, the obstacles that influence the auction winner are non-juridical obstacles.

Legal Protection for the E-Auction System for the Purchase of Pledge Objects at Office Services and State Wealth Auctions (KPKNL) in an Islamic Perspective

Indonesia is known as a country whose people experience many problems related to debt receivables. However, education regarding collateral rights is still minimal. Therefore , the government provides solutions related to education on the auction of objects through socialization. The purpose of this study discusses the process and protection of legal certainty related to E-Aution of purchasing pawn objects at the KPKNL service seen in its Islamic perspective. This type of research is qualitatively narrative by examining various literature to be discoping into research results. Thereason is, there is socialization related to E-Auction because there is still minimal trust from the E-Auction system. It was seen that there were many cases of irresponsible auctions and plus the majority of Indonesians were Muslims, so the KPKNL office provided progress from collaboration between managers Syar'i-based which is still categorized as new. However, the collaboration process between KPKNL and BSI fosters confidence and trust if the implementation of the E-Auction is in accordance with Minister of Finance Regulation No. 106 / PMK. 06/ 2013 on E-Auction and No. 93/PMK. 06/2010 i.e. preventive protection of auction winners