Search Results (8)

Japan’s susceptibility to and severity of floods have necessitated flood control policies by the government. “Overflowing flood control”, in which the floods due to torrential rains are systematically diverted to agricultural lands in the upper to middle reaches, is one of them. More information is needed on the public assessment of the overflowing flood control policy, and this research seeks to bridge this gap. Data evaluating rice affected by the policy were collected from a random nth-price auction using a developed online system. The sample consisted of 47 consumers living in the downstream areas of the Edogawa River, one of Japan’s first-class, or prime, rivers. Data on their attitudes toward the policy were collected with a questionnaire. Multiple ordered probit models are used for regression analysis. The results show that the sample respondents were willing to pay an average of JPY 1578 for 5 kg of rice, slightly higher than the national average rice production cost, and that 36% of the sample agreed with the flood control policy, which is positively associated with large families or owning many assets. Full article

On 11 March 2021, amidst the lingering grip of the COVID-19 pandemic, the art world witnessed an extraordinary event. Christie’s, the renowned auction house, hosted a groundbreaking auction counting just one lot: a Non-Fungible Token (NFT)—a digital asset that had been generating buzz in recent times. The astounding price fetched by the NFT sent shockwaves through the art world. While the 255-year-old auction house was known for selling unique assets, its auctioning of an NFT was surprising as Christie’s online marketplace was not on the blockchain, contrarily to NFT platforms such as Opensea, Nifty Gateway, etc. The resounding success, however, of its historic auction was followed by a surge of NFT off-chain sales at Christie’s, Sotheby’s, and Phillips. While extensive research has been done on the trade of NFTs on the blockchain, little research exists on the trade of NFTs at public auction houses. Based on more than two years’ tracking of NFTs auctioned at major auction houses, our research identifies three phases in the development of the trade and provides valuable insights into the unique factors that contributed to the growth of NFTs at public auctions between the springs of 2021 and 2023. Full article

The traffic management system holds immense importance due to its significant impact on human living standards. With the advent of advanced technologies such as natural language processing and autonomous vehicles, this study proposes a novel cooperative traffic management system based on collection auctions at an isolated unsignalized intersection, taking into account the users’ preferences for passing the intersection while being subject to their social credits. Once vehicles enter the vehicle-to-infrastructure communication zone, drivers provide the intersection control center with their bidding information, which reflects their urgency for right-of-way. According to the traffic and biding information, the vehicles’ passing sequence is optimized by the control center, in order to maximize the drivers’ average satisfaction. To demonstrate the effectiveness of the proposed system, a series of simulation experiments were conducted under varying traffic volumes. The simulation results were then compared with several other traffic control systems from the literature. It was shown that the proposed algorithm demonstrates superior performance in terms of computational time, traffic delay, and drivers’ personal satisfaction. Full article

Western medicine has an unfortunate history where it has been applied to address the health of African Americans. At its origins, it was aligned with the objectives of colonialism and chattel slavery. The degree to which medical “science” concerned itself with persons of African descent was to keep them alive for sale on the auction block, or to keep them healthy as they toiled to generate wealth for their European owners. Medicine in early America relied upon both dead and live African bodies to test its ideas to benefit Europeans. As medicine moved from quackery to a discipline based in science, its understanding of human biological variation was flawed. This was not a problem confined to medicine alone, but to the biological sciences in general. Biology had no solid theoretical basis until after 1859. As medicine further developed in the 20th century, it never doubted the difference between Europeans and Africans, and also asserted the innate inferiority of the latter. The genomic revolution in the latter 20th century produced tools that were deployed in a biomedical culture still mired in “racial” medicine. This lack of theoretical perspective still misdirects research associated with health disparity. In contrast to this is evolutionary medicine, which relies on a sound unification of evolutionary (ultimate) and physiological, cellular, and molecular (proximate) mechanisms. Utilizing the perspectives of evolutionary medicine is a prerequisite for an effective intervention in health disparity and finally dispelling the myth of the genetically sick African. Full article

The day of the last live auction at Sotheby’s in the spring of 2020 was on 19 March 2020 as multiple coronavirus lockdowns forced auction rooms to close worldwide. In the following months, hundreds of live auctions were cancelled or postponed, and combined revenue at Christie’s, Sotheby’s, and Phillips for the second Quarter 2020 plummeted 79% year on year from USD 4.4 bn in Q2 2019 to USD 0.9 bn in Q2 2020. This article focuses on public auctions at Christie’s, Sotheby’s, and Phillips and uses primary research to demonstrate how leading auction houses responded to the unprecedented challenges posed by the COVID-19 crisis. Leveraging Pi-eX’s public auction results database and its 12-month-rolling methodology, our analysis shows (1) the surge of online only auctions while the number of live auctions plummeted; (2) the limitations of online only auctions and the rise of new opportunities; and (3) a comparison of the COVID-19 crisis with previous art market crisis in the past 15 years. Full article

The expansion of the British auction houses Christie’s, Sotheby’s and Bonhams to markets in the Middle East has played a crucial role in building an international market for art from the region. They have also been essential in providing an international platform for the sale of art from Iran, a country whose economy is otherwise isolated from global markets. In this paper, I address the growth of the market for Iranian art specifically via Christie’s auctions in Dubai. Through close analysis of auction catalogs, ethnographic data drawn from live auctions and interviews with key staff members, I document the emergence of Iranian art into the international arena and the solidification of both Iranian and Middle Eastern art as a distinct category of sales. In particular, I explore the notion of “seeing with the other eye”, a way that auction specialists nudge local collectors into the arena of “international” taste. Through analysis of the particular tropes used to narrate artist biographies in auction catalogs, I demonstrate how artists are painted as interpreters and translators of “local” and “global” aesthetic registers. Full article

Online auctions are a popular and convenient way to engage in ecommerce. However, the amount of auction fraud has increased with the rapid surge of users participating in online auctions. Shill bidding is the most prominent type of auction fraud where a seller submits bids to inflate the price of the item without the intention of winning. Mechanisms have been proposed to detect shill bidding once an auction has finished. However, if the shill bidder is not detected during the auction, an innocent bidder can potentially be cheated by the end of the auction. Therefore, it is essential to detect and verify shill bidding in a running auction and take necessary intervention steps accordingly. This paper proposes a run-time statistical algorithm, referred to as the Live Shill Score, for detecting shill bidding in online auctions and takes appropriate actions towards the suspected shill bidders (e.g., issue a warning message, suspend the auction, etc.). The Live Shill Score algorithm also uses a Post-Filtering Process to avoid misclassification of innocent bidders. Experimental results using both simulated and commercial auction data show that our proposed algorithm can potentially detect shill bidding attempts before an auction ends. Full article

The expansion of telecommunication technologies touches almost all aspects life that we are living nowadays. Indeed, such technologies have emerged as a fourth essential utility alongside the traditional utilities of electricity, water, and gas. In this context, Cloud Data Center Networks (cloud-DCNs) have been proposed as a promising way to cope with such a high-tech era and with any expected trends in future computing networks. Resources of cloud-DCNs are leased to the interested users in the form of services, such services come in different models that vary between software, platform, and infrastructure. The leasing process of any service model starts with the users (i.e., service tenants). A tenant asks for the service resources, and the cloud-provider allocates the resources with a charge that follows a predefined cost policy. Cloud resources are limited, and those cloud providers have profit objectives to be satisfied. Thus, to comply with the aforementioned promise, the limited resources need to be carefully allocated. Existing allocation proposals in the literature dealt with this problem in varying ways. However, none proposes a win-win allocation model that satisfies both the providers and tenants. This work proposes A Rational Allocation Approach in Cloud Data Center Networks (ARAAC) that efficiently allocates the available cloud resources, in a way that allows for a win-win environment to satisfy both parties: the providers and tenants. To do so, ARAAC deploys the Second Best-Price (SBP) mechanism along with a behavioral-based reputation model. The reputation is built according to the tenants’ utilization history throughout their previous service allocations. The reputation records along with the adoption of the SBP mechanism allows for a locally free-equilibrium approach that allocates the available cloud-DCN resources in an efficient and fair manner. In ARAAC, through an auction scenario, tenants with positive reputation records are awarded by having the required resources allocated at prices that are lower than what they have offered. Compared to other benchmark models, simulation results show that ARAAC can efficiently adapt the behavior of those rational service-tenants to provide for better use of the cloud resources, with an increase in the providers’ profits. Full article