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Theory and individual behavior of first-price auctions (1988)

Cox, James C. ; Smith, Vernon L. ; Walker, James M.

Springer

Journal of risk and uncertainty 1 (1988), S. 61-99

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ISSN: 1573-0476

Keywords: auctions ; bidding theory ; experiments

Source: Springer Online Journal Archives 1860-2000

Topics: Economics

Notes: Abstract First-price auction theory is extended to the case of heterogeneous bidders characterized byM-parameter log-concave utility functions. This model, and its specific two-parameter constant relative risk averse special case, is generally supported by the results of 47 experiments. The one-parameter special case that comprises most of the theoretical literature is not supported by the experiments. One anomaly for the two-parameter model is that too many of the subjects exhibit positive (or negative) intercepts in their linear estimated bid functions. Accordingly, we develop a specific three-parameter model, which introduces a utility of winning, and a threshold utility of surplus. The new model, tested directly by introducing lump-sum payments or charges for winning, is not falsified by the new experiments.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1007/BF00055565

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Voltammetric characterization and determination of thallium(III,I) at a glassy carbon electrode modified with a film containing iridium oxide (1989)

Cox, James A. ; Das, Basudev K.

Weinheim : Wiley-Blackwell

Electroanalysis 1 (1989), S. 57-61

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ISSN: 1040-0397

Keywords: Chemistry ; Polymer and Materials Science

Source: Wiley InterScience Backfile Collection 1832-2000

Topics: Chemistry and Pharmacology

Notes: Cyclic voltammetry of a 0.1 mM PdCl2, 0.2 mM Na2IrCl6 0.2 M K2SO4 mixture at a glassy carbon electrode results in the gradual accumulation of a film, which contains Pd(II) and iridium oxide, that promotes the quasi-reversible oxidation of Tl(I). Cyclic voltammetry at 5 mV/s yields a peak potential difference of 35 mV at the modified electrode and about 700 mV at bare glassy carbon. The peak current for the linear scan voltammetric oxidation of 0.2 mM TI(I) in 1.0 M NaCl is directly proportional to the square root of scan rate up to 0.1 V/s. Both cyclic voltammetry and rotating disk voltammetry at modified electrodes provide data consistent with a two-electron oxidation. The modified electrode is suitable for the determination of thallium by differential pulse voltammetry in the micromolar range.

Additional Material: 4 Ill.