Applications of auction theory: Ascending auctions
A liquid dielectric composition obtained as a result of a process which comproses reacting benzene with ethylene in the presence of an alkylation catalyst to obtain an alkylation product containing largely unreacted benzene, ethylbenzene, polyethylbenezenes and heavier products, separating benzene, ethylbenezene and polyethylbenezenes from said alkylation product and thereafter recovering from said heavier products the entire fraction whose boiling point is in the temperature range of about 255 DEG to about 420 DEG C., preferably about 260 DEG to about 400 DEG C., most preferably about 268 DEG to about 400 DEG C., as said liquid dielectric composition.
This study analyzes patent trends and volatilities for three heterogeneous quality patents in the Taiwan patent system from January 1973 to June 2006. The estimated models are symmetric GARCH and asymmetric EGARCH, providing full sample, rolling sample, and out-of-sample evidence. Three different patent types exhibit increasing trends, using monthly time series data from our samples. ”New design” patents also show time-varying volatility but other types of patents fail to reject the ARCH LM test. Findings show the asymmetric EGARCH model suitable for “new design” patent type through out of sample forecasts.