PurposeThe purpose of this paper is to present implications of the seller's ability to bid in the four classical auction forms, with independent private values: English, Dutch, first‐ and second‐price auctions.Design/methodology/approachUnder each auction form, the identity of the winning bidder and the expected winning bid are compared between the case when the seller may bid and when he cannot, using equilibrium bidder strategies. The seller's incentive to bid is evaluated.FindingsThe strategies and the welfare results differ with auction type and underlying (...) information assumptions – bidders are either aware or unaware of the seller's ability to bid. In the Dutch and the first‐price auctions, seller‐bidding does not affect any classical results. In the English and the second‐price auctions, it leads to no lower expected prices than without it and higher prices with positive probability. In the English and the second‐price auctions, the seller bids above his reservation value and may unintentionally win the auction. These auctions result in inefficiency with positive probability.Practical implicationsThe English and the second‐price auctions are the most common real‐world auctions. In these auctions, the seller's ability to bid – secretly or publicly – redistributes welfare among participants and introduces a possibility of inefficiency. Making this ability publicly known does not solve the latter problem. Auctioneers must prevent the seller from bidding, or must select a different auction form when seller‐bidding is anticipated.Originality/valueThe paper clarifies to regulators, auction designers, bidders, and other readers which auction forms are susceptible to subversion by seller‐bidding and what the potential damages are. (shrink)

Internet fraud is an issue that increasingly concerns regulators, consumers, firms, and business ethics researchers. In this article, we examine one common form of internet fraud, the practice of shill bidding (when a seller in an auction enters a bid on his or her own item). The significant incidence of shill bidding on eBay (in spite of the fact that it is illegal just as it is in live auctions) exemplifies the current ineffectiveness of regulatory means (...) as well as the lack of effective societal mechanisms to prevent online fraud. Further, the proliferation of shill bidding along with other types of internet fraud may have broader implications. If unethical behavior such as shill bidding becomes too widespread on the internet, regulators and other societal forces may deem it necessary to institute controls that will impact the entire online marketplace as well as the future development and regulation of business activities on the internet. Our results indicate that shill bidding is perpetrated on eBay significantly more often than 0.1% rate of fraud estimated by the firm. This suggests that regulators, users, and others stakeholders may become concerned enough to act. The impact of those responses on the internet of the future may affect a broad array of users beyond the unethical sellers on eBay. (shrink)

BackgroundAs the number of randomised controlled trials of medicines for children increases, it becomes progressively more important to understand the experiences of parents who are asked to enrol their child in a trial. This paper presents a narrative review of research evidence on parents' experiences of trial recruitment focussing on qualitative research, which allows them to articulate their views in their own words.DiscussionParents want to do their best for their children, and socially and legally their role is to care for (...) and protect them yet the complexities of the medical and research context can challenge their fulfilment of this role. Parents are simultaneously responsible for their child and cherish this role yet they are dependent on others when their child becomes sick. They are keen to exercise responsibility for deciding to enter a child in a trial yet can be fearful of making the 'wrong' decision. They make judgements about the threat of the child's condition as well as the risks of the trial yet their interpretations often differ from those of medical and research experts. Individual parents will experience these and other complexities to a greater or lesser degree depending on their personal experiences and values, the medical situation of their child and the nature of the trial. Interactions at the time of trial recruitment offer scope for negotiating these complexities if practitioners have the flexibility to tailor discussions to the needs and situation of individual parents. In this way, parents may be helped to retain a sense that they have acted as good parents to their child whatever decision they make.SummaryDiscussing randomised controlled trials and gaining and providing informed consent is challenging. The unique position of parents in giving proxy consent for their child adds to this challenge. Recognition of the complexities parents face in making decisions about trials suggests lines for future research on the conduct of trials, and ultimately, may help improve the experience of trial recruitment for all parties. (shrink)

During the past two decades, there has been a significant growth of sociological studies into the ‘body pedagogics’ of cultural transmission, reproduction and change. Rejecting the tendency to over-valorise cognitive information, these investigations have explored the importance of corporeal capacities, habits and techniques in the processes associated with belonging to specific ‘ways of life’. Focused on practical issues associated with ‘knowing how’ to operate within specific cultures, however, body pedagogic analyses have been less effective at accounting for the incarnation of (...) cultural values. Addressing this limitation, with reference to the radically diverse norms involved historically and contemporarily in ‘vélo worlds’, I develop Dewey’s pragmatist transactionalism by arguing that the social, material and intellectual processes involved in learning physical techniques inevitably entail a concurrent entanglement with, and development of, values. (shrink)

Elite U.S.-based global law firms concentrate in the costliest districts of superstar cities, especially two neighborhoods in Manhattan. This pattern has persisted despite both the dispersal of Biglaw clients across less-dense, lower-cost U.S. geographies and the development of telework capacity. It suggests a puzzle: law is among the occupations most conducive to remote work, yet Biglaw prior to the coronavirus pandemic required in-person work in the priciest places—meaning it paid a premium on both of its biggest expenses, wages and real (...) estate. How might this equilibrium be explained, and what might lead it to change? This Article contends that Biglaw clustering reflects a management preference for the exploitation of proven strategies over the exploration of novel and uncertain ones—but that the pandemic telework experience is eroding this dichotomy. This analysis has direct implications for private international law practice, where large-scale transactions and disputes are handled by Biglaw firms and involve significant international travel. This Article contributes to a growing literature on telework’s impacts on cities, labor markets, and industries, and is the first to extend that focus to Biglaw and PIL. A post-pandemic Biglaw embrace of dispersal via telework would destabilize standard accounts of collaboration in agglomeration economies. While the Article expresses skepticism about that outcome, it identifies a mechanism by which it might plausibly come about. Crucially, this mechanism—the replacement of an exploit vs. explore choice with two different exploit options—posits as the key driver not technology but management learning and innovation that quickened during the pandemic. (shrink)

In a comprehensive and innovative reassessment of the discipline, this book argues that classical and contemporary social theories must be studied in relation to the ambition that shaped and established sociology: the ambition to comprehend the relationship between social and moral life. Surveying a range of sociological analyses from Comte to feminism, postmodernism and rational choice theory, this book examines the various attempts that have been made to reconstruct the discipline over the last century, and the challenges facing it today. (...) The book situates sociology in its historical, philosophical and theological contexts and examines how the founders of the discipline developed competing analyses of the processes elementary to social and moral life through their distinctive sociological contributions. Individual chapters examine `Human Sociology', `Sacred Sociology', `Tragic Sociology', `Heroic Sociology' and `Normative Sociology'. The book moves on to discuss post-classical thought, and the attempted reconstruction of the subject. Separate chapters are devoted to `Conflict Sociology', `Feminist Sociology', `Racial Sociology', `Rational Sociology' and `Post//Modern Sociology'. The result is a landmark work in recent sociological study. Accomplished, erudite and alive with ideas, the book will be required reading for students of sociology, social theory, religious studies and cultural studies. (shrink)

The Dual State, first published in 1941, remains one of the most erudite books on the legal origins of democracy and dictatorship. It provided the first comprehensive analysis of the rise and nature of National Socialism, and was the only such analysis written from within Hitler's Germany. Fraenkel's concept of the dual state, being the normative state and the the prerogative state. It retains its vital relevance for the theory of democracy in the twenty-first century. The Dual State considerably influenced (...) scholars studying and working on questions of political justice in the period following World War II, particularly in the context of political and legal theory; in the domain of legal history; in the area of constitutional theory; in the context of comparative politics; and in what has become known as the field of comparative constitutional law. This republication of Fraenkel's classic work makes it once again widely available to scholars and students in the field. It includes both Fraenkel's 1974 introduction to the German second edition, never before published in English, and a new introduction by Dr Jens Meierhenrich, examining the world in which The Dual State was originally published, and the lasting legacy of this classic work. (shrink)

Contemporary sociology mirrors Western society in its general aversion and sensitivity to pain, and in its view of pain as an unproductive threat to cultures and identities. This highlights the deconstructive capacities of pain, and marginalizes collectively authorized practices that embrace it as constitutive of cultural meanings and social relationships. After exploring the particularity of this Western orientation to pain — by situating it against processes of instrumentalization and medicalization, and within a broader context of other social developments conducive to (...) a heightening of affect control — this article builds on Mauss’s analysis of ‘body techniques’ in suggesting that the cultural, physiological and psychological dimensions of pain can be combined in various ways. In examining this point further, we then compare contrasting religious engagements with pain as a way of detailing how it can be positively productive of cultural meanings and identities, and conclude by using these comparisons to illuminate the relationship between the current Western approach to pain and the Christian traditions that shaped the West historically. (shrink)

The article presents an Internet experiment where subjects sequentially bid for basic gifts and binary-lotteries on these gifts in incentive compatible Vickrey auctions. Subjects exhibit uniformly pessimistic prize-weighting in spite of precautions to reduce suspicion and prohibit collusion. The bids for lotteries are close to the minimal payable value, even when the probability of obtaining a better prize is larger than 50%. Prize-weighting becomes even more conservative as the distance in value of payable prizes increases. The twofold aversive affect appears (...) for three distinct groups of students; we demonstrate, however, that the same subjects overweight small win-probabilities in standard binary-choice. (shrink)

The paper presents an approach for developing multi-agent reinforcement learning systems that are made up of a coalition of modular agents. We focus on learning to segment sequences (sequential decision tasks) to create modular structures, through a bidding process that is based on reinforcements received during task execution. The approach segments sequences (and divides them up among agents) to facilitate the learning of the overall task. Notably, our approach does not rely on a priori knowledge or a priori structures. (...) Initial experiments demonstrated the basic promise of the approach. This work shows how bidding and reinforcement learning can be usefully combined, thus pointing to a new research direction. (shrink)

This article analyzes the judicial framework of the takeover bid regulation in Lithuania, identifies the obstacles to the more effective regulation and considers possible solutions. As laid down in the Directive 2004/25/EC of the European Parliament and the Council as well as in the Law on Securities of the Republic of Lithuania, if a natural or legal person acquires a specified percentage of voting rights in the company (the issuer), which gives him a certain degree of control of the company, (...) this person must announce and implement a mandatory takeover bid to protect the minority shareholder rights. The regulation process of takeover bids in Lithuania, however, encounters several obstacles in aiming to increase the protection of minority shareholders. The authors claim that the main problems preventing a more efficient takeover regulation are first, issues related to the counting rules of the voting rights and second, the lengthy process of implementing mandatory takeover bids (the implementation process could last up to six years). Finally, the definition of a fair price of the security presents another obstacle to a more efficient takeover regulation as well. The matter of a fair and reasonable price is the most important in emerging markets, such as Lithuania. (shrink)

Shills are people who endorse products and companies for pay, while pretending that their endorsements are ingenuous. Here we argue that there is something objectionable about shilling that is not reducible to its bad consequences, the lack of epistemic conscientiousness it often relies upon, or to the shill’s insincerity. Indeed, we take it as a premise of our inquiry that shilling can sometimes be sincere, and that its wrongfulness is not mitigated by the shill’s sincerity, in cases where (...) the shill is sincere. Our proposal is that the shill’s defining characteristic is their knowingly engaging in a kind of speech that obscures a certain aspect of its social status – most commonly, by pretending to speak on their own personal behalf, while in fact speaking as an employee – and that this sort of behaviour is objectionable irrespective of any other features of the shill’s conduct. This sort of obfuscation undermines a socially beneficial communicative custom, in which we conscientiously mark the distinction between personal speech and speech-for-hire. (shrink)

In this paper we examine optimal bidding without the independence axiom in a unified framework which allows for a clear graphical representation. Thus, we can show very simply the independence axiom to be a necessary and sufficient condition on preferences for strategical equivalence of the two first-price and second-price auctions, respectively, and for the second-price sealed-bid auction to be demand revealing. The analysis reveals that the betweenness property is necessary and sufficient for the ascending-bid auction to be demand revealing (...) while optimal bids exceed (are less than) bidders' valuations, iff preferences are quasiconcave (quasiconvex). Furthermore, it can be shown that fanning out (fanning in) leads to a higher (lower) selling-price in open than in sealed-bid auctions. (shrink)

One important claim of G.A. Cohen's Karl Marx’s Theory of History is that only its functional interpretation of historical materialism can solve the “primacy puzzle”, i.e. can reconcile the primacy of the productive forces with the controlling role of the production relations. Cohen’s recent “Reply to Four Critics” (in this journal) does not salvage this claim against my earlier critique that it is either false or trivial. He only avoids falsehood by substantially redefining the terms of the puzzle. And with (...) the redefined puzzle, the claim becomes trivial in the sense that one of the two terms which the primacy puzzle consists in reconciling requires a functional interpretation on its own. The “Veblenian scenario” which I put forward in my earlier text and whose full force Cohen has been prevented from appreciating by two misunderstandings, illustrates what I claim to be the general solution to the only genuine primacy puzzle. (shrink)

A usual argument in finance refers to no arbitrage opportunities for the positivity of the bid-ask spread. Here we follow the decision theory approach and show that if positivity of the bid-ask spread is identified with strong risk aversion for an expected utility market-maker, this is no longer true for a rank-dependent expected utility one. For such a decision-maker only a very weak form of risk aversion is required, a result which seems more in accordance with his actual behavior. We (...) conclude by showing that the no-trade interval result of Dow and Werlang (1992a) remains valid for a rank-dependent expected utility market-maker merely exhibiting this weak form of risk aversion. (shrink)

This paper presents a GA-based multi-agent reinforce- ment learning bidding approach (GMARLB) for perform- ing multi-agent reinforcement learning. GMARLB inte- grates reinforcement learning, bidding and genetic algo- rithms. The general idea of our multi-agent systems is as follows: There are a number of individual agents in a team, each agent of the team has two modules: Q module and CQ module. Each agent can select actions to be performed at each step, which are done by the Q module. (...) While the CQ module determines at each step whether the agent should continue or relinquish control. Once an agent relinquishes its control, a new agent is selected by bidding algorithms. We applied GA-based GMARLB to the Backgammon game. The experimental results show GMARLB can achieve a su- perior level of performance in game-playing, outperforming PubEval, while the system uses zero built-in knowledge. (shrink)

Lakatos is considered to be a Popperian who adapted his Hegelian-Marxist training to critical philosophy. I claim this is too narrow and misses Lakatos' goal of understanding scientific inquiry as heuristic inquiry—something he did not find in Popper, but found in Polanyi. Archival material shows that his ‘new method' struggled to overcome what he saw as the Popperian handicap, by using Polanyi.

Different evaluators typically disagree how to rank different candidates due to their idiosyncratic concerns for the various qualities of the candidates. Our ranking mechanism asks all evaluators to submit individual bids assigning a monetary amount for each possible rank order. The rules specify for all possible vectors of such individual bids the collectively binding rank order of candidates and the payments, due to the different evaluators. Three requirements uniquely determine procedurally fair ranking rules as a game form. Only when additionally (...) assuming exogenously given true evaluations of collective rankings, which may be commonly or only privately known, and—in case of private information—beliefs concerning the evaluations by others, this game form determines proper games and allows for equilibrium analysis. After an illustration, the approach is adjusted to situations where one wants to rank only acceptable sets of candidates thus rendering the mechanism even more attractive. (shrink)

This paper investigates the campaign waged by Islamic scholars affiliating to the Shādhiliyya-Jazūliyya Sufi order among tribal people in the mountain region of Northern Morocco in the sixteenth century. It examines these scholars’ campaign against bidʿa in the mountains, focusing on their attacks against traditional practices related to marriage and conjugal life that they considered religiously and morally aberrant. The primary source discussed here is a guidebook for marriage, titled Etiquette of Husband and Wife, containing diverse legal doctrines, fatwās, anecdotes, (...) and other accounts. Based on this document, we examine these scholars’ ideological background, the methods they used, and the kinds of practices they censured. They intended to enhance strict sexual segregation by using sufi masters’ religious authority and dhikr to conquer the resistance of the tribal people who had allowed men and women to mix each other publicly. They also demanded a hierarchical structure of religious education, with the family as the base for the Islamization of juridical norms in tribal society. This paper shows that the people did not strictly follow the scholars’ dictates because these restrictions were incompatible with their way of life in this region. It is probable that the leaders of the campaign afforded to the cause of the Saʿdids because they expected that their activity would proceed better under a new regime with more effective governance and control over society. (shrink)

Lowest-unique sealed-bid auctions are auctions with endogenous participation, costly bids, and the lowest bid among all unique bids wins. Properties of symmetric NEs are studied. The symmetric NE with the lowest expected gains is the maximin outcome under symmetric strategies, and it is the solution to a mathematical program. Comparative statics for the number of bidders, the value of the item and the bidding cost are derived. The two bidders’ auction is equivalent to the Hawk–Dove game. Simulations of replicator (...) dynamics provide numerical evidence that the symmetric NE with the lowest expected gains is also asymptotically stable. (shrink)

The label Body Integrity Dysphoria (BID) refers to a heterogeneous class of conditions whose sufferers desire a particular type of physical impairment. Variants of the desire for disability share the experiential “friction” elicited by the mismatch between the physical body and the subjective body. Perceived from childhood, body integrity dysphoria intensifies progressively throughout life, often leading sufferers to simulate disability and attempt to engage in self-injury. The contemporary scientific community agrees on the assumption that BID is a complex phenomenon that (...) involves biological, social, and psychological dimensions. The present work aims to provide a preliminary qualitative overview of the desire for permanent visual impairment through novel descriptions from a recent narrative interview we conducted. The desire for blindness appears to be extremely rare. To date, there have been very few studies investigating this phenomenon. Despite these limitations, this paper aims to describe the subjective aspect of visual dysphoria, considering its similarities and differences with other variants grouped under the label of BID. (shrink)

Recommender system depends on the thoughts of numerous users to predict the favourites of potential consumers. RS is vulnerable to malicious information. Unsuitable products can be offered to the user by injecting a few unscrupulous “shilling” profiles like push and nuke attacks into the RS. Injection of these attacks results in the wrong recommendation for a product. The aim of this research is to develop a framework that can be widely utilized to make excellent recommendations for sales growth. This study (...) uses the methodology that presents an enhanced clustering algorithm named as modified density peak clustering algorithm on the consumer review dataset to ensure a well-formed cluster. An improved recurrent neural network algorithm is proposed to detect these attacks in hybrid RS, which uses the content-based RS and collaborative filtering RS. The results are compared with other state of the art algorithms. The proposed method is more suitable for E-commerce applications where the number of customers and products grows rapidly. (shrink)

There is a tension between Robert Talisse's rejection of Deweyan democracy and his project of formulating a workable Peircean conception of democracy. If he follows Rawls in taking reasonable pluralism to be a permanent condition, then his Peircean conception of democracy is undermined. But, if he does not commit to the permanence of reasonable pluralism, then his rejection of Deweyan democracy is problematic. Since he chooses the latter interpretation, Talisse must bite the bullet and recognize that Peircean epistemic perfectionists cannot (...) yet bid a definitive farewell to Deweyan democracy. (shrink)

On rationality, reason and criticism -- Arabs. ; Islamic philosophy of Muḥammad ʻĀbid Jābirī and Mohammed Arkoun.

In recent years, there are many reasons for the frequent safety accidents in the construction field. The most controversial and typical one that firmly correlated with China’s national condition is the low-price bid winning and the general subcontracting management, which probably have a great impact on the unsafe behavior intention of workers on the construction site. In order to figure out their internal relation, a quantitative statistical analysis of the unsafe behavior intentions of construction workers in the Beijing area was (...) conducted through the on-site questionnaire considering three main variables, namely, general subcontract management, reasonable low-cost bid winning, and construction experiences. Meanwhile, the correlation, regression, and mediating effects of different influencing factors were analyzed through a regressive model to quantify the impact of each variable on the unsafe behavior intention of construction workers. The results showed that the influence of low-price bid winning on the unsafe behavior intention of on-site workers is faint. This is mainly because, in the case of labor buyer’s market, the actual salary of workers is not relevant to whether the project is awarded at a low price. However, the general subcontracting management has a great impact on the unsafe behavior intention of on-site workers. At the same time, low-price bid winning also indirectly affects the strength of general subcontracting safety management, which has an indirect impact on the unsafe behavior intention of on-site workers. Generally, it is of greater significance to enhance the strength of the general subcontracting management and to formulate relevant regulations to guarantee the safety of construction workers. (shrink)