(2000) who examined first price sealed bid auctions in an independent private values setting. Their approach starts by noting that given equilibrium strategies a bidder in this auction format should bid: (1)bi=vi−∫p0viF(u)I−1duF(vi)I−1where bi is the bidder’s optimal bid, vi ...
A museum is an attractive tourist product in the tourist destination, it is an important attraction in the XXI century, which is bringing the museum and cities economic benefits as well as new challenges and innovative processes in educational, cultural, scientific, and technologies terms. Swensen ...
more distillate product withwas obtained, but also more time was needed. Since the beginning of this first distillation the harvested benzene product goes to main cut 1 tank of Figure1and at harvest time the distillate is deviated to the off cut 1 tank where a mixture of benzene, toluene an...
The starting date for the data set is chosen since the equilibrium price level has shifted to a new regime since 2002. The potential cause is that the balance between the demand and supply of crude oil is increasingly constrained by its limited and scarce nature in recent years, due to the...