We show that linear logic can serve as an expressive framework in which to model a rich variety of combinatorial auction mechanisms. Due to its resource-sensitive nature, linear logic can easily represent bids in combinatorial auctions in which goods may be sold in multiple units, and we show how it naturally generalises several bidding languages familiar from the literature. Moreover, the winner determination problem, i.e., the problem of computing an allocation of goods to bidders producing a certain amount of (...) revenue for the auctioneer, can be modelled as the problem of finding a proof for a particular linear logic sequent. (shrink)

The 1994 US spectrum auction is now a paradigmatic case of the successful use of microeconomic theory for policy-making. We use a detailed analysis of it to review standard accounts in philosophy of science of how idealized models are connected to messy reality. We show that in order to understand what made the design of the spectrum auction successful, a new such account is required, and we present it here. Of especial interest is the light this sheds on the issue (...) of progress in economics. In particular, it enables us to get clear on exactly what has been progressing, and on exactly what theory has – and has not – contributed to that. This in turn has important implications for just what it is about economic theory that we should value. (shrink)

This article addresses the emergence of African– European business relationships. Its focus is on the role of bargaining power and information tech- nology and its impact on the different stakeholders in (electronic) markets (sellers, market maker, buy- ers). Information technology is seen as an enabling technology that facilitates reaching a wider cus- tomer base (called reach) and providing a channel for increased customer services (called richness). The central question is how African suppliers can create bargaining power by means of information (...) technology and therefore enter and improve their position in European markets. Research is carried out in the flower industry. In this industry African flower growers create competitive advantage and develop business relationships with European buy- ers (wholesalers, retailers). In this article we inves- tigate three flower markets (Tele Flower Auction, FloraHolland Auction, and Aalsmeer Auction), the role of African flower growers, and the use and impact of information technology in these markets. The results of our research show that there are pot- entials for African flower growers to enter the Euro- pean flower markets and to increase their position of bargaining power. A first potential is using and implementing information technology for the access to new and large European markets. African flower growers use information technology to streamline transaction processes and lower transac- tion costs. A second potential is related to the qual- ity and specificity of the produced flower products. Information technology can remove the quality uncertainty of products and can provide rich infor- mation services to buyers. The results in the flower industry suggest that information technology pro- vides opportunities for the African producers to expand the reach and richness of their product and service offerings, thus creating economic value. Ó 2004 Elsevier Ltd. All rights reserved. (shrink)

Economic policy decisions require comparisons of the gains and losses from policy choices to different people. If those gains can be valued in monetary terms, than all that is needed is a comparison of the value of income to different persons, which can be weights in cost-benefit analysis. An objective comparison of the value of income to different people has been long sought but never found. I propose that when money to be allocated is controlled by a group of people (...) with equal control over that money, then a hypothetical auction for transfers of income between people can produce a collective judgment about the value of income that provides suitable weights, and is morally defensible in cases where the decision is made by the group collectively, e.g. when making government policy choices. I provide a method for calculating such weights from observed choices about distributing income, and discuss several desirable properties that they have. (shrink)

Some objections to the idea that disputed territories should be auctioned.

Can trust evolve on the Internet between virtual strangers? Recently, Pettit answered this question in the negative. Focusing on trust in the sense of ‘dynamic, interactive, and trusting’ reliance on other people, he distinguishes between two forms of trust: primary trust rests on the belief that the other is trustworthy, while the more subtle secondary kind of trust is premised on the belief that the other cherishes one’s esteem, and will, therefore, reply to an act of trust in kind (‘trust-responsiveness’). (...) Based on this theory Pettit argues that trust between virtual strangers is impossible: they lack all evidence about one another, which prevents the imputation of trustworthiness and renders the reliance on trust-responsiveness ridiculous. I argue that this argument is flawed, both empirically and theoretically. In several virtual communities amazing acts of trust between pure virtuals have been observed. I propose that these can be explained as follows. On the one hand, social cues, reputation, reliance on third parties, and participation in (quasi-) institutions allow imputing trustworthiness to varying degrees. On the other, precisely trust-responsiveness is also relied upon, as a necessary supplement to primary trust. In virtual markets, esteem as a fair trader is coveted while it contributes to building up one’s reputation. In task groups, a hyperactive style of action may be adopted which amounts to assuming (not: inferring) trust. Trustors expect that their virtual co-workers will reply in kind while such an approach is to be considered the most appropriate in cyberspace. In non-task groups, finally, members often display intimacies while they are confident someone else ‘out there’ will return them. This is facilitated by the one-to-many, asynchronous mode of communication within mailing lists. (shrink)

Markets sit in places and knowledge produced in these places also constitute the very foundation of markets’ viability and market actors’ performative competitive edge. However, not all markets are created equal primarily in the context of their importance in the global economy. Thus conceived, we imagine a world economy or markets populated by people in front of wide computer screens making sense of financial algorithms and derivatives. In a way, here, we see a market that is run by codified knowledge, (...) or scientific knowledge that transcends boundaries. But what about a conception of market that recognizes the production of knowledge in the periphery, and this instance, fish markets, where place-based knowledge marks the contours of engagement of fishmongers to their wider world and yet, concomitantly, also underscores their attachment to place? In this article, in an ethnographic study of four fish markets in a small coastal town in southern Philippine, fishmongers engage with market processes via their production and deployment of vernacular knowledge which is performed in the form of public specialized knowledge, tacit knowledge and network knowledge. In these forms of vernacular knowledge, we become cognizant of the complexities of market processes even in places that are relegated to the margins, where knowledge plays a crucial role in sensing the world and making it lived and real. (shrink)

In this essay, I develop the concept of episodic value, which describes a form of value connected to a particular object or individual expressed and delivered through a narrative. Narrative can bestow special kinds of value on objects, as exemplified by auction articles or museum collections. To clarify the nature of episodic value, I show how the notion of episodic value fundamentally differs from the traditional axiological picture. I extend my discussion of episodic value to argue that the notion of (...) episodic value readily incorporates the role of narratives into the construction of identity in personal and social contexts. My main contentions are twofold. First, events or experiences from our personal narratives are episodically valuable insofar as they contribute to shaping our narrative identities. Second, when engaged in a collective action, we write a joint narrative with other participants that confers special meanings on the actions of each participant. (shrink)

Essential Microeconomics is designed to help students deepen their understanding of the core theory of microeconomics. Unlike other texts, this book focuses on the most important ideas and does not attempt to be encyclopedic. Two-thirds of the textbook focuses on price theory. As well as taking a new look at standard equilibrium theory, there is extensive examination of equilibrium under uncertainty, the capital asset pricing model, and arbitrage pricing theory. Choice over time is given extensive coverage and includes a basic (...) introduction to control theory. The final third of the book, on game theory, provides a comprehensive introduction to models with asymmetric information. Topics such as auctions, signaling and mechanism design are made accessible to students who have a basic rather than a deep understanding of mathematics. Examples and diagrams are used to illustrate issues as well as formal derivations. (shrink)

This chapter discusses different perspectives and trends in social decision making, especially the actual processes used by humans when they make decisions in their everyday lives or in business situations. The chapter uses cognitive psychological techniques to break down these processes and set them in their social context. Most of our decisions are made in a social context and are therefore influenced by other people. If you are at an auction and bidding on a popular item, you will try to (...) guess how long the others will keep in the bidding race. Likewise, when you and another person have to coordinate your decision to win a card game you will also try to think about what the other person know and what s/he will do, so you can adjust your choice. In other words, you are trying to come up with a model of the person and his decision-making process. This involves the capability to think about the thoughts and intentions of others, to put yourself in another person's shoes (perspective taking), and to think recursively about your and another person's over several steps (like in a game of chess). Especially, recursive social reasoning is one of the hallmarks of social decision-making. Whereas observational, competitive and cooperative decision-making can all be seen as trying to maximize the own reward or profit, altruistic decision-making blatantly violates this axiomatic principle of behavioral economics. Yet, altruistic behavior is quite common throughout human society. -/- . (shrink)

This book’s goal is to give an intellectual context for the following manuscript. -/- Includes bibliographical references and an index. Pages 1-123. 1). Philosophy. 2). Metaphysics. 3). Philosophy, German. 4). Philosophy, German -- 18th century. 5). Philosophy, German and Greek Influences Metaphysics. I. Hegel, Georg Wilhelm Friedrich -- 1770-1831 -- Das älteste Systemprogramm des deutschen Idealismus. II. Rosenzweig, Franz, -- 1886-1929. III. Schelling, Friedrich Wilhelm Joseph von, -- 1775-1854. IV. Hölderlin, Friedrich, -- 1770-1843. V. Ferrer, Daniel Fidel, 1952-. [Translation from (...) German into English of the-- Das älteste Systemprogramm des deutschen Idealismus.]. -/- Note: the manuscript is in the handwriting of G.W.F. Hegel, but the actual authorship is disputed. No date is given. Franz Rosenzweig made up the title as it is known today. He published the text in 1917. At that time, F. Rosenzweig thought F.W.J. Schelling was the author. No one has read this book for errors. As always, any errors, mistakes or oversights etc. are mine alone. Given a couple more years, I could improve this book. This is a philosophical translation and not a philological translation. Martin Luther who did the famous early translation of the Bible into German wrote in a letter, “If anyone does not like my translation, they can ignore it… (September 15, 1530)”. There are no ‘correct’ translations. Some are just better than other translations. -/- The Oldest Systematic Program of German Idealism. The German title is: Das Älteste Systemprogramm Des Deutschen Idealismus. This title was made up by Franz Rosenzweig in 1917, when he first published the manuscript. He found the manuscript in the Royal Library in Berlin in 1913. The manuscript suggested date is around 1796 and was done by handwriting research. However, the manuscript is not dated. The Prussian State Library auctioned in March 1913 from the auction of the house Liepmannssohn in Berlin a single sheet on the front and back with Hegel's cursive handwriting. The manuscript was lost during WWII. But Dieter Henrich found it again in 1979 in the “Biblioteka Jagiellonska” in Krakow (Poland), where it is today. Address: Jagiellonian Library, Jagiellonian University, al. Mickiewicza 22, 30-059 Cracow, Poland. Later research suggests that manuscript had come from the estate of Hegel’s student Friedrich Christoph Förster (1791-1868). He was one of the editors of Hegel’s posthumous works and most likely had access to a number of Hegel’s manuscripts. This text actually being one of them. Hegel traveled around Bohemia with Marie and Friedrich Christoph Förster around the year 1820-21 (see Klaus Vieweg). -/- Philosophical mystery -- who is the author or authors of this text? -/- Take a plunge into the deep and cold waters. Maybe a quagmire or quandary, but decidedly interesting. This project is to contextualize an old handwritten manuscript which is about 225 years old. The actual author is a mystery. I offer my own assessment. You can make your own assessments. The mystery has continued to unfold since 1917. There is plenty to read. Otherwise, think about the authorship and read more of the German philosophers and authors from this period and enjoy the depth of thinking and philosophizing. On one hand, there is just the sheer fun in the puzzle of the authorship questions; and on the other hand, these are the alluring thoughts that lead to the nascent stage of German Idealism and our intellectual heritage. There is no end to the accolades for this group of philosophers. A heritage that we still hear in in our attempts to move forward into our future. -/- Do your own astute exegesis (ἐξήγησις) as all paths are still open. Let your thought take to the wings of what is called thinking with this text. Critical encounters (Auseinandersetzung, or a Gegenüberstellung) with at least: Friedrich Hölderlin (1770-1843) Friedrich Wilhelm Joseph Schelling (1775-1854), and Georg Wilhelm Friedrich Hegel (1770-1831) --- starts here! German Idealism. We are not going to study this situation endlessly, instead we make some broad strokes and provide you a general context. You are allowed to read between the lines too. Goal: to understand the overall affinity and differences between the intellectuals of this period in German history; and to come to grips with this demanding text within its large scholarly context in the last 100 years. There are no final answers. (shrink)

The increasing standardization, specialisation and monetarization of academic publishing is designed to foster quality in research and expression. But these tendencies also pose serious challenges to the expression of cultural difference, particularly with regard to philosophy and religious studies. Scholars from various cultural backgrounds outside of mainstream universities often find themselves marginalised when the quality of their work is judged through the metrics of mainstream academic publishing. Smaller journals which give a forum to local research are gradually disappearing or becoming (...) irrelevant. The corporate control of publishing limits the access and distribution of information making it difficult for smaller regional universities to access and conduct research. But these challenges to the expression of cultural difference also reflect the deeper tendencies of the information age. To approach this problem, we need to consider the conflict between culture and spirit on the one hand, with the flows of information and capital on the other. I will introduce this problem through an idea of hermeneutics presented by George McLean. I will then discuss the approaches to this problem by such writers as Michel Serres, Jean Francois Lyotard, Giorgio Agamben and Jacques Derrida. I will show that these latter writers devise strategies to reach something outside of the cybernetic flows of information in the media age, but that their solutions are incomplete because they rely on intellectual concepts of redemption and ignore the concrete practices of spiritual redemption. The issue that cross-cultural journals must consider is how to emphasize something beyond the merely intellectual; how to amplify practice within its expression. I will address this issue in the spirit of a poem by Emily Dickinson entitled “Publication – is the Auction” which supplies the title of this essay. (shrink)