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For our results, the partial effect of backlog or number of bidders turns out as hypothesized, too: more bidders in the auction decrease the bid, a higher backlog increases the bid.
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Markit reported that factories saw an increase in new orders, leading to an higher backlog of work and an inc increased in job creation across the sector.
"We have a high backlog with overbooking, and it is not difficult to find people to take them up," Mr. Gallois said.
However, more patients progressed to the surgical part of the system, creating a high backlog of referrals waiting for surgery.
The results of the baseline scenario (table 3) showed that a high backlog of patients would accumulate in the different waiting lists, if the same level of resources were kept in a simulated year (at the time of the study a year into the future).
NHS trusts are sitting on a record-high backlog of almost £6 billion worth of repairs or replacements that need carrying out, official figures show.
More immediately, what is needed are hundreds more immigration judges to deal with a historically high backlog of around 800,000 cases, to determine which should be justifiably regarded as meriting asylum.
An explanation for some of the most startling extremes was offered by lawyers at the American Immigration Lawyers Association: higher backlogs in districts with disproportionately large Middle Eastern and Muslim populations like Washington, Detroit and Cleveland.
According to the model, fewer bidders and higher backlogs will then lead to higher markups.
Firms bid higher if their own backlog is higher since they have higher opportunity costs; and firms strategically bid higher when they know that their competitors have higher backlogs, and therefore higher costs.
The good news in the report was that ASEI closed the quarter with the highest backlog in the company's history, $117 million, which was up $54 million sequentially and 54% on the year.
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