Download or read book Discovering Prices written by Paul Milgrom and published by Columbia University Press. This book was released on 2017-05-23 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.

Download or read book Automating the Price Discovery Process written by Mr.Ian Domowitz and published by International Monetary Fund. This book was released on 1992-10-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Automated trade execution systems are examined with respect to the degree to which they automate the price discovery process. Seven levels of automation of price discovery are identified, and 47 systems are classified according to these criteria. Systems operating at various levels of automation are compared with respect to age, geographical location, and type of securities traded. Information provided to market participants, and asymmetries of information between traders with direct access to the automated market and outside investors also are examined. It is found, for example, that the degree of asymmetric information increases with the level of automation of price discovery. The potential for trading abuses related to prearranged trading, noncompetitive execution, and trading ahead of customers is analyzed for each level of automation. Certain levels of automation widen the opportunities for trading abuses in some respects, but may narrow them in others.

Download or read book Trading and Price Discovery for Crude Oils written by Adi Imsirovic and published by Springer Nature. This book was released on 2021-05-19 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about the international oil market. It takes a historical perspective on how the market emerged, developed, and became what it is today—the biggest commodity market in the world. It is mature and complex, but far from perfect. Throughout most of its 150-year history, the oil market has been monopolised by companies and governments. For only a fraction of that, oil traded in a relatively free market. As a result, we had to live with ‘big oil’, economic shocks, high oil prices, instability and wars. Using a simple concept of market power, this book will explain the meaning of ‘oil price’ and how it is established while offering a valuable lesson for other commodities. Market power is the key to understanding the ‘price of oil’. This book uses a simple concept of price-makers and price-takers to examine the evolution of oil markets, their structure, and prices. The early decades of the oil industry were competitive with low barriers to entry. Barely 25 years later, the Standard Oil company created a refining monopoly, buying oil at its own ‘posted’ price. In the following century, the cartel of major oil companies, helped by their governments, did the same at the international level. OPEC helped producing governments regain control of their own resources, but the organisation was never able to retain a similar level of control. After 1986 price collapse, OPEC abdicated the price-making function in favour of the market. While it never gave up attempts to influence prices, OPEC had to link their official prices to one of the global oil benchmarks. Modern international oil markets function because of oil benchmarks such as Brent, WTI and Dubai. This book showcases: • How oil traders played a prominent role in development of the industry • How policies of consuming nations helped oil cartels • Why and how the US price of oil was negative • How AI has changed the way markets operate and the way in which the markets are likely to change in future This book explores how oil markets grew, functioned, and have occasionally failed to do their job. The ecosystem of derivatives or ‘paper barrels’ trading in far greater volume than physical oil plays a very important role in mitigating risk. With this core tenant, setting the ‘price of oil’ is explained in detail.

Download or read book Reform and Price Discovery at the Tokyo Stock Exchange From 1990 to 2012 written by K. Kubota and published by Springer. This book was released on 2015-04-30 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last two decades the Tokyo Stock Exchange implemented several important reforms in regulations, market trading mechanisms, and IT trading systems. In this book we analyze the impact of the evolution of the Tokyo Stock Exchange (TSE), at the same time discussing reforms in stock trading by related accounting standards and legal regulations. With daily stock return and market microstructure data, we analyze how these reforms have significantly influenced the pricing structure and price discovery process of traded stocks, as well as the trading style of institutional investors, individual investors, and high frequency traders. The research methodology we employ is primarily standard market microstructure tests as well as methods used in conventional empirical financial economics. We simultaneously use the most relevant concepts in these fields for our empirical tests and provide a comprehensive picture of trading, price discovery, pricing structure, and public vs. private information dissemination.

Download or read book High Price written by Carl Hart and published by Harper Collins. This book was released on 2013-06-11 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: High Price is the harrowing and inspiring memoir of neuroscientist Carl Hart, a man who grew up in one of Miami’s toughest neighborhoods and, determined to make a difference as an adult, tirelessly applies his scientific training to help save real lives. Young Carl didn't see the value of school, studying just enough to keep him on the basketball team. Today, he is a cutting-edge neuroscientist—Columbia University’s first tenured African American professor in the sciences—whose landmark, controversial research is redefining our understanding of addiction. In this provocative and eye-opening memoir, Dr. Carl Hart recalls his journey of self-discovery, how he escaped a life of crime and drugs and avoided becoming one of the crack addicts he now studies. Interweaving past and present, Hart goes beyond the hype as he examines the relationship between drugs and pleasure, choice, and motivation, both in the brain and in society. His findings shed new light on common ideas about race, poverty, and drugs, and explain why current policies are failing.

Download or read book The LEGO MINDSTORMS EV3 Discovery Book written by Laurens Valk and published by No Starch Press. This book was released on 2014-06-14 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: LEGO MINDSTORMS has changed the way we think about robotics by making it possible for anyone to build real, working robots. The latest MINDSTORMS set, EV3, is more powerful than ever, and The LEGO MINDSTORMS EV3 Discovery Book is the complete, beginner-friendly guide you need to get started. Begin with the basics as you build and program a simple robot to experiment with motors, sensors, and EV3 programming. Then you’ll move on to a series of increasingly sophisticated robots that will show you how to work with advanced programming techniques like data wires, variables, and custom-made programming blocks. You’ll also learn essential building techniques like how to use beams, gears, and connector blocks effectively in your own designs. Master the possibilities of the EV3 set as you build and program: –The EXPLOR3R, a wheeled vehicle that uses sensors to navigate around a room and follow lines –The FORMULA EV3 RACE CAR, a streamlined remote-controlled race car –ANTY, a six-legged walking creature that adapts its behavior to its surroundings –SK3TCHBOT, a robot that lets you play games on the EV3 screen –The SNATCH3R, a robotic arm that can autonomously find, grab, lift, and move the infrared beacon –LAVA R3X, a humanoid robot that walks and talks More than 150 building and programming challenges throughout encourage you to think creatively and apply what you’ve learned to invent your own robots. With The LEGO MINDSTORMS EV3 Discovery Book as your guide, you’ll be building your own out-of-this-world creations in no time! Requirements: One LEGO MINDSTORMS EV3 set (LEGO SET #31313)

Download or read book A Curious Discovery written by John S. Hendricks and published by Harper Collins. This book was released on 2013-06-25 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A Curious Discovery, media titan John Hendricks tells the remarkable story of building one of the most successful media empires in the world, Discovery Communications. John Hendricks, a well-respected corporate leader and brand builder, reveals that his professional achievements would not have been possible without one crucial quality that has informed his life since childhood: curiosity. This entrepreneur’s story takes you behind the scenes of some of the network’s most popular shows and greatest successes, and imparts crucial lessons from the network’s setbacks. With insights, anecdotes, photographs, and real-world wisdom, A Curious Discovery is more than a powerful autobiography and corporate history: It also a valuable primer for business innovators and entrepreneurs.

Download or read book The Ultimate Book of Sharks written by Brian Skerry and published by National Geographic Books. This book was released on 2018 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: An illustration-heavy exploration of the types and characteristics of sharks.

Download or read book A World of Discovery written by Richard Platt and published by Candlewick Studio. This book was released on 2019-09-18 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential compendium of some of the most world-changing discoveries and inventions of all time, from the first use of money to antibiotics and artificial intelligence. In a stylish miscellany, celebrated author Richard Platt and printmaker James Brown travel through time to showcase the amazing breakthroughs in science and technology that have changed our lives forever. From the wheel to the telephone to the Internet, human history is studded with innovations that have changed our world. Each bold, bright, and beautiful infographic is complete with engaging and easy-to-understand explanations. A follow-up to international bestseller A World of Information and its companion, A World of Cities, this book covers thirty groundbreaking discoveries and is perfect for inquiring minds of all ages.

Download or read book Shell Egg Price Discovery Symposium Proceedings written by and published by . This book was released on 1988 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Discovery of Dragons written by Lindsay Galvin and published by Scholastic Inc.. This book was released on 2021-07-06 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to Train Your Dragon meets natural history, with real science, in this story of discovery through one of the lens of one of the most historical voyages in history. It's 1835. Cabin boy Simon Covington is on the voyage of a lifetime to the Galapagos Islands with the world-famous scientist, Charles Darwin.But when Simon falls overboard during a huge storm, he washes up on an unexplored island. Stranded there, he makes a discovery that could change the world. Now it's not just his own survival at stake - the future of an undiscovered species is in his hands. But perhaps, there's one person who could help...Based on the real events of Charles Darwin's legendary voyage, this is a novel that melds science with wonder.

Download or read book The Discovery of Slowness written by Sten Nadolny and published by Penguin. This book was released on 1997-06-01 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: In The Discovery of Slowness, German novelist Sten Nadolny recounts the life of the nineteenth-century British explorer Sir John Franklin (1786-1847). The reader follows Franklin's development from awkward schoolboy and ridiculed teenager to expedition leader, governor of Tasmania, and icon of adventure. Everyone with whom he came into contact sensed that he was a rare man, one who was “out of his time” and who moved to a different, grander beat. That beat eventually led Franklin to sail once more—on his final, fateful voyage—into the Arctic in search of the Northwest Passage. The Discovery of Slowness is both a riveting account of a remarkable and varied life, and a profound and thought-provoking meditation on time.

Download or read book Continuous Discovery Habits written by Teresa Torres and published by Product Talk LLC. This book was released on 2021-05-19 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: "If you haven't had the good fortune to be coached by a strong leader or product coach, this book can help fill that gap and set you on the path to success." - Marty Cagan How do you know that you are making a product or service that your customers want? How do you ensure that you are improving it over time? How do you guarantee that your team is creating value for your customers in a way that creates value for your business? In this book, you'll learn a structured and sustainable approach to continuous discovery that will help you answer each of these questions, giving you the confidence to act while also preparing you to be wrong. You'll learn to balance action with doubt so that you can get started without being blindsided by what you don't get right. If you want to discover products that customers love-that also deliver business results-this book is for you.

Download or read book The Discovery of the Americas written by Betsy Maestro and published by Harper Collins. This book was released on 1992-04-20 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Maestros do a real service here in presenting the more familiar explorers in the context of all the migrations that have populated the Western Hemisphere....An outstanding introduction."--Kirkus Reviews. "The dazzlingly clean and accurate prose and the exhilarating beauty of the pictures combine for an extraordinary achievement in both history and art."--School Library Journal.

Download or read book A Discovery of New Worlds written by Bernard de Fontenelle and published by Hesperus Press. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this charming and witty dialogue translated by the first professional woman writer in English, a 17th century astronomer staying at the chateau of a beautiful Marchioness accompanies her into her garden at night and introduces her to the new discoveries of astronomy Although more than 300 years old, Fontenelle's dialogues in a garden over five nights are still a surprisingly painless way to learn about the sun, the moon, the planets, and the stars, even though new planets were later discovered and modern science has filled out many details Fontenelle could not have known. Only the confidence with which he discusses inhabitants of the planets, the moon, and even the sun is now seen as misplaced. This is no lecture, but a conversation with the cut and thrust of intelligent argument as the Marchioness challenges each of the astronomer's assertions and requires him to explain the evidence. Fontenelle's work has been through the hands of many different translators, but Aphra Behn's translation, one of the earliest, adds the feminine wit of a leading dramatist to the work, in the first modern edition of this translation.

Download or read book Discovery of Design written by Dr. Donald DeYoung and published by New Leaf Publishing Group. This book was released on 2009-10-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: A world created in perfection, now unveiled... From the frontiers of scientific discovery, researchers are now taking design elements from the natural world and creating extraordinary breakthroughs that benefit our health, our quality of life, our ability to communicate, and even help us work more efficiently. An exciting look at cutting-edge scientific advances, Discover of Design highlights incredible examples that include: How things like batteries, human organ repair, microlenses, automotive engineering, paint, and even credit card security all have links to natural designs Innovations like solar panels in space unfurled using technology gleaned from beech tree leaves, and optic research rooted in the photonic properties of opal gemstones Current and future research from the fields of stealth technology, communications, cosmetics, nanotechnology, surveillance, and more! Take a fantastic journey into the intersection of science and God's blueprints for life - discovering answers to some of the most intricate challenges we face. Experience this powerful apologetics message in a multi-purpose resource as a personal enrichment tool or as an educational supplement.

Download or read book Technical Bulletin written by and published by . This book was released on 1927 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: