It was in 2004 that the first case study was done by on the ongoing Reverse Auction Bidding at Texas A&M University. This long-term study has developed from a single case study, completed by van Vleet, to a series of case studies, now combined with personality testing of all participants. van Vleet developed a Microsoft Access database system and Active Server Pages web based user interface for the study. The first case study involved five participants with no prior experience in Reverse Auction Bidding. A study with five participants is considered competitive in accordance with the standard economic Herfindahl Index. van Vleet, concluded that the results showed a level of co-operation in the bidding game between the nominal competitors. In 2010 John Nichols coined the term "tacit collusion" to identify this apparent behavioural pattern observed in the bidding. A significant element of the studies from 2005 to 2009 has been to investigate the "tacit collusion" behaviour. Tacit collusion is not considered an illegal economic behaviour. In 2006 Seth Gregory encountered significant problems with a study involving ten participants using the Access database, as a result of Access' limitations on the number of connections. Gregory's study was migrated to a Microsoft SQL database that was developed by Wellington (2006) and which overcame the limitations. SQL database systems can generate a significant quantity of data which create a computer science problem, now commonly termed 'Data rich - analysis poor'. This study is the first in a series of studies to undertake a detailed statistical study of the early case studies to provide a set of algorithms for development of SQL queries for automated real-time data analysis of future Reverse Auction Bidding case studies. This study showed that a fifth order polynomial fit the contract time compared to the job number. Analysis of the number of bids per minute for the fifteen minutes of bid time showed a log-polynomial equation which provided a reasonable fit to the data. Two sub-games were postulated to describe the operational aspects of the auction. The first game, termed the - game, is between the players with the objective of maximizing average return and the second game, termed the - game, has the objective of average cost minimization for the purchasers and maximization of revenue for the seller group. In conclusion, Reverse Auction Bidding systems are not bid shopping, but the tenet that the purchaser will reduce costs in this type of system compared to the traditional closed bid system is not confirmed with van Vleet's data and any careful consideration of the results of canny players in the 'game suggests higher than average returns for some bidders. The results show a number of patterns in the data that warrant further study, particularly the characteristics of the canny players in the alpha game suggests higher than average returns for some bidders. The results show a number of patterns in the data that warrant further study, particularly the characteristics of the canny players.

Den 1 juli 2010 implementerades PSI-lagen i Sverige, syftet var att främja konkurrens och tillväxt i informationsförädlarbranschen. En bransch som beräknas ha en stor tillväxtpotential. Branschen saknar idag en egen klassifikation, vilket medför att branschens utveckling är svår att mäta. Denna studie avser att dels skapa en definition för informationsförädlarbranschen, och ta reda på vilka företagen i branschen är. Sedan kommer konkurrens och tillväxt i informationsförädlarbranschen att mätas för att undersöka om PSI-lagen haft någon inverkan på branschens utveckling. Resultatet visar att branschen består av 130 företag, år 2013, och att tillväxten och konkurrensen har förändrats sedan PSI-lagen implementerats.

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多角化是否能提升銀行獲利與降低風險？本文採2000年至2007年21家本國銀行之年資料，獲利以調整呆帳費用後之資產報酬率作為評估基礎；風險以資產報酬率的標準差衡量，利用追蹤資料分析法，探討銀行多角化程度對獲利與風險之影響，並分析對於逾放比率不同之銀行，其獲利、風險之影響因素是否有所差異，實證結果顯示：一、依品質一致性原則調整呆帳後之資產報酬率，較財報公佈之資產報酬率具較佳之解釋能力與統計顯著性；二、營業收入多角化可提升獲利與降低風險；資產配置多角化不但無法提升獲利，甚使其面臨更高之風險；轉投資模式與風險具有負向關係；三、金融控股公司經營模式與獲利具有正向關係；資產規模與風險具有負向關係；權益資產比及用人費用率與獲利、風險具有負向關係；總體環境因素和風險具有正向關係；四、對於低逾放比率銀行，分散營業收入來源，擴充銀行規模及提高自有資金比例，對其獲利與風險皆有正面之助益；對於高逾放比率銀行，僅有營業收入多角化模式可同時提升獲利與降低風險，意謂此類銀行除可採取營業收入多角化策略彌補呆帳損失外，亦應確實監控授信資產品質，方能有效地改善獲利能力與降低風險。 / Does diversification indeed lead to increase profitability and reduce risk? We use a panel dataset of 21 banks in Taiwan for the period from 2000 to 2007, bad debt-adjusted ROA serves as the measure of profitability and the standard deviation of ROA serves as the measure of risk. This study investigate the effect of diversification on profitability and risk and hope to know how it works out under different non-performing loans ratio. Our main finding are as follows:(i)Compare with ROA in financial statement ,bad debt-adjusted ROA making better significance. (ii)Revenue diversification has positive relation to increase profitability and negative to reduce risk. Asset diversification has negative relation to reduce profitability and positive relation to increase risk. Equity investment has negative relation between risk. (iii) Banks operating as part of financial holding companies can improve profitability. Size has negative relation between risk. Equity to asset ratio and compensation to revenue ratio have negative relation to reduce both profitability and risk. Macroeconomic factor has positive relation to increase risk.(iv)For low non-performing loans ratio banks, revenue diversification, size and equity to asset ratio have positive relation to increase profitability and negative to reduce risk. For high non-performing loans ratio banks, revenue diversification is the only way to improve banks’ profitability and reduce risk. It draws a conclusion that banks monitor loan need strengthening in high non-performing loans ratio banks.

本研究從風險分散的角度，探討近年來廣為討論的準被動式指數策略(Quasi-passive index strategy)，其中挑選三大投資組合策略--等權重(Equal Weighted Portfolio, EW)、風險平價(Naïve Risk Parity Portfolio, RP)、相關性極小化(Minimum Correlation Portfolio, MCP)，實證應用於元大台灣卓越50ETF，回測基準時間從2004年1月5日起至2016年12月30日止，共計13年。在實證分析中，除了探討一般的投資組合績效結果外，文中也進一步比較文獻回顧中各式風險分散測度指標，其中包含(1)風險分散比率(Diversification Ratio, DR)、(2)集中度比率(Concentration Ratio, CR)、(3)波動性加權平均相關性(Volatility-weighted Average Correlation)、(4)赫芬戴爾指數(Herfindahl Index, Index)等對各種策略的控制成效。 本研究的實證結果如下: 相關性極小化投資組合策略(MCP)在元大台灣卓越50ETF的實證應用下，雖然成分股集中配置於某特定產業類股(即集中度比率、赫芬戴爾比率相對較高)，但本策略透過「波動性加權平均相關性」顯著且有效的控制，使得成對資產的相關性極小化，最終達成風險分散的投資目標。 / This article discusses the recently most popular “Quasi-passive index strategy”, especially from risk diversification aspect. We select three major portfolio strategies, including Equal Weighted Portfolio (EW), Naïve Risk Parity Portfolio (RP), and Minimum Correlation Portfolio (MCP), and apply all of three to the Yuanta/ P-shares Taiwan Top 50 ETF in Taiwan. The back-test period of the strategy is from January 5th, 2004, to December 30th, 2016 (around 13 years). In the empirical analysis, we not only compare the performance and risk of different strategies, but also focus on a variety of the measurement of diversification, such as Diversification Ratio (DR), Concentration Ratio (CR), Volatility-weighted Average Correlation (ρ), and Herfindahl Index (HI), all of which can quantify the degree of diversification control. In the empirical result, we find that Minimum Correlation Portfolio (MCP), applied in the Yuanta/ P-shares Taiwan Top 50 ETF, will allocate highly concentrated on some specific industry (equivalently high CR and high HI). However, this strategy significantly and efficiently controls the factor of “Volatility-weighted Average Correlation (ρ)”. Therefore, MCP can minimize the coefficient correlation between each pair asset and achieve the goal of risk diversification.