Scientists developed a high-entropy hydrogel that stiffens 760-fold when heated and softens in 28 seconds upon cooling. This innovation overcomes slow recovery in thermal-stiffening materials, unlocking applications in adaptive armor and soft robotics.

Purpose

We estimate the marginal cost curve of each dealer in each auction, based on structural models of the multiunit discriminatory-price auction.

Design/methodology/approach

Auction theory has ambiguous implications regarding the relative performance of three formats of multiunit auctions: uniform-price, discriminatory-price and Vickrey auctions. We evaluate the performance of these three auction formats using bid-level data of the Federal Reserve’s purchase auctions of agency MBS from June 2014 through November 2014.

Findings

Our results suggest that neither uniform-price nor Vickrey auctions outperform discriminatory-price auctions in terms of the total expenditure. However, Vickrey auctions outperform discriminatory-price auctions in terms of efficiency, with the efficiency gain around 0.74% of the surplus that dealers extract on average.

Originality/value

To the best of our knowledge, this paper provides the first structural analysis of the auctions used by the Federal Reserve in implementing its monetary policies.

A research team led by Prof. LIU Kai from the Division of Life Science and Department of Chemical and Biological Engineering at the Hong Kong University of Science and Technology (HKUST) has established an innovative intracranial pre-olivary pretectal nucleus (OPN) optic tract injury model (pre-OPN OTI), shedding light on crucial mechanisms of functional axonal rewiring following central nervous system injury.

Understanding the spatio-temporal patterns of taxi operations is crucial for urban transport planning and management. A recent study by researchers from Shandong University of Science and Technology and the Chinese Academy of Sciences introduces a novel model, the Taxi Mobility Chain (TMC), to analyze the continuous movement patterns of taxis in Xiamen, China. By comparing traditional taxis and e-hailing cars, the study reveals significant differences in their operational behaviors, providing valuable insights for optimizing urban transportation systems.

A novel lensless imaging technique, utilizing a programmable Fresnel zone aperture, offers high-resolution, artifact-free imaging with compact, cost-effective hardware. This method enhances resolution by 2.5 times and improves the signal-to-noise ratio by 3 dB compared to traditional approaches. The system's adaptability between static and dynamic modes enables diverse applications, from biomedical imaging to virtual reality and human-computer interaction, paving the way for miniaturized and multifunctional imaging platforms.

Research team developed PathActMarker, a software package for pathway activity inference and analysis. It preprocesses gene expression data, converts it into pathway activity matrices using eight tools, and ranks pathways to identify biomarkers.