1 The author will be working in Washington, DC beginning in June, 2006 for the economic consulting firm Bates White, LLC. Please email any comments and questions to [email protected]. Abstract The efficiency of three major initial offering techniques—book-building, fixed-price, and auctions—are compared across US and Chinese IPOs from 1999 through 2005. Efficiency is measured by first-day ret...

R. D. SCHAFER The results of M. Zorn concerning alternative algebras are incomplete over modular fields since, in his study of alternative division algebras, Zorn restricted the characteristic of the base field to be not two or three. In this paper we present first a unified treatment of alternative division algebras which, together with Zorn's results, permits us to state that any alternative,...

For certain weak versions of the Axiom of Choice (most notably, the Boolean Prime Ideal theorem), we obtain equivalent formulations in terms of partial orders, and filter-like objects within them intersecting certain dense sets or antichains. This allows us to prove some consequences of the Boolean Prime Ideal theorem using arguments in the style of those that use Zorn’s Lemma, or Martin’s Axiom.

We give a general method for producing various effective Null and Positivstellensätze, and getting new Positivstellensätze in algebraically closed valued fields and ordered groups. These various effective Nullstellensätze produce algebraic identities certifying that some geometric conditions cannot be simultaneously satisfied. We produce also constructive versions of abstract classical results ...

1.1. Strictly Cyclic Modules and Modular Right Ideals. For a ring A with identity, cyclic modules are precisely those of the form a\A where a is a right ideal. What might be a useful analogous statement for a ring without identity? This question motivates what follows in this subsection. A module M is strictly cyclic if there exists m in M such that mA = M (such an m is called a generator); a r...

The first class of nonassociative simple Moufang loops was discovered by L. Paige in 1956 [9], who investigated Zorn’s and Albert’s construction of simple alternative rings. M. Liebeck proved in 1987 [7] that there are no other finite nonassociative simple Moufang loops. We can briefly describe the class as follows: For every finite field F, there is exactly one simple Moufang loop. Recall Zorn...

A direct application of Zorn’s lemma gives that every Lipschitz map f : X ⊂ Qp → Qp has an extension to a Lipschitz map f̃ : Qp → Qp . This is analogous to, but easier than, Kirszbraun’s theorem about the existence of Lipschitz extensions of Lipschitz maps S ⊂ Rn → R`. Recently, Fischer and Aschenbrenner obtained a definable version of Kirszbraun’s theorem. In this paper, we prove in the p-adic ...

The purpose of this article is to study the role of Gödel’s functional interpretation in the extraction of programs fromproofs inwell quasi-order theory. Themain focus is on the interpretation of Nash-Williams’ famous minimal bad sequence construction, and the exploration of a number of much broader problems which are related to this, particularly the question of the constructive meaning of Zor...

In a recent paper E. J. McShane [3]2 has given a theorem which is the common core of a variety of results about Baire sets, Baire functions, and convex sets in topological spaces including groups and linear spaces. In general terms his theorem states that if J is a family of open maps defined in one topological space Xi into another, X2, the total image JiS) of a second category Baire set S in ...