Two features common to many auctions are the use of reserve prices and the existence of secondary markets for the goods being sold. Even in simple symmetric settings, the combination of these features can preclude existence of an equilibrium in symmetric separating bidding strategies. With a reserve price sufficiently far below the maximum (endogenous) valuation, a symmetric equilibrium still e...

In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. I...

Eighteen red duikers, Cephalophus natalensis, from the Charters Creek Nature Reserve and 2 from Fanies Island Nature Reserve were processed for arthropod parasite recovery. They harboured 8 species of ixodid ticks and 2 lice species. All were infested with Haemaphysalis parmata and the nymphs of Rhipicephalus muehlensi. Two bushpigs, Potamochoerus porcus, from the Ndumu Nature Reserve, 5 from t...

Amplification (LAMP) Assay for Detection of Clostridium difficile Infection (CDI): a Meta-Analysis Aaron Lloyd, BS; Priyaleela Thota, MD; Chaitanya Pant, MD; Vinay Pasupuleti, MD, PhD; Adrian V. Hernandez, MD, PhD; Curtis J. Donskey, MD; Abhishek Deshpande, MD, PhD; School of Medicine, Case Western Reserve School of Medicine, Cleveland, OH; Infectious Disease, Case Western Reserve Medical Schoo...

In a model with two buyers and sellers we consider the choice of sales mechanism from three possibilities: posted prices, and auctions with and without reserve prices. With homogenous goods, sellers’ expected revenues are highest when both sellers auction with reserve prices – 33% higher than if posting prices and 100% higher than if auctioning without reserve prices. When sellers can choose th...

Cognitive reserve is a hypothetical construct that has been used to inform models of cognitive aging and is presumed to be indicative of life experiences that may mitigate the effects of brain pathology. The purpose of this study was to evaluate the construct validity of cognitive reserve by examining both its convergent and its discriminant validity across three different samples of participan...

This paper proposes the allocation of operating reserve in power systems through competitive capacity markets using a probabilistic approach. The insurance features of operating reserve are used to derive a valuation model that is analytically consistent and reflects the economic value of increased reliability to customers. The model can be expressed in the form of a demand curve for operating ...

In this paper, a new formulation for clearing reserve market in a deregulated environment with separated energy and reserve market is introduced. In the proposed method, reserve market is cleared such that the costs associated with capacity reservation, producing energy in real-time, opportunity cost of those units which are accepted in the energy market and backed down from the accepted values...

This research memorandum summarizes the analyses conducted for the Active/Reserve Force Mix Study. The availability of personnel to man missions being transferred to the Reserve forces is studied. In particular, this paper examines which homeports will be most able to support the Naval Reserve Force, what determines whether Navy veterans will affiliate with the Selected Reserves, and what the s...

Under the Reserve Bank Act 1959, the Reserve Bank has sole authority to issue banknotes in Australia. As such, a key responsibility of the Reserve Bank is to maintain public confidence in banknotes, so that they remain an effective payment mechanism and a secure store of wealth. This article examines how counterfeiting can impact on this confidence, and counterfeiting trends in Australia and ov...