Heterogeneity,nonlinearity and endogenous market volatility

This paper aims to contribute to the literature on the explanatory power of behavior models with heterogeneous agents. The authors present a new nonlinear structural stock market model which is a nonlinear deterministic process buffeted by dynamic noise. An exogenous noise is introduced to the model with the assumption of IID normal innovations of the fundamental value in order to investigate how noisy dynamics interacts with deterministic process. The market is composed of two typical trader types: the rational fundamentalists and the boundedly rational traders governed by greed and fear. The interaction between noise and deterministic element determines the evolution process of the system as key parameters are changed. The authors find the model is able to generate time series that exhibit dynamical and statistical properties closely resembling those of the S&P500 index, such as volatility clustering, fat tails (leptokurtosis), autocorrelation in square and absolute return, larger amplitude, crashes and bubbles. The authors also investigate the nonlinear dependence structure in our data. The results indicate that the GARCH-type model cannot completely account for all nonlinearity in our simulated market, which is thus consistent with the results from real markets. It seems that the nonlinear structural model is more powerful to give a satisfied explanation to market behavior than the traditional stochastic approach.     

A situation calculus based approach to dynamic management of e-business services

In the era of e-businesses, the traditional business services are greatly challenged by the ever-increasing demands from customers with various backgrounds and personalities. Large numbers of new e-businesses are driven by the needs of customers. The existing dynamics inherent in the customer needs require the corresponding dynamic management of services. Attempting to respond to customers in a rapid and intelligent way, this paper proposes a situation calculus based approach for dynamically managing e-Business services in the ubiquitous environment. By employing the formalism of the situation calculus to enable intelligence and automation, the approach can implement. the functions of service automatic composition and model verification. These functions will improve the degree of customer-orientation and enable fast responsiveness in the emerging e-service systems.     

BOTTLENECKS IN PRODUCTION NETWORKS： AN OVERVIEW

1. Introduction Performances of a production system, such as the throughput, the circle time and the average delay, etc., are affected by the capacities of machines and resources available in the system. Some of them may affect the system performances more than others. Usually, the limitation of a system can be traced to the limitation of one or two machines or one or two kinds of resources, commonly called bottlenecks. From system point of view, bottlenecks are the congestion points of the sy…     

MODELING COMMERCIAL PROCESSES AND CUSTOMER BEHAVIORS TO ESTIMATE THE DIFFUSION RATE OF NEW PRODUCTS

1. Introduction In his famous seminal book (Rogers 1962), Rogers introduced and popularized a generic framework for analyzing and describing how the mechanism of diffusion of innovations works inside a given population. In this general approach, “innovation” can of course be understood in a large way: it may indeed referto various contexts such as the learning of a new practice, the use of a new tool, the launch of a new product, etc. The strength of Rogers' point of view comes from the fac…     

AGENT-BASED SIMULATION FOR KANSEI ENGINEERING： TESTING A FUZZY LINEAR QUANTIFICATION METHOD IN AN ARTIFICIAL WORLD

This paper argues that agent-based simulation can be used as a way for testing Kansei Engineering methods which deal with the human reaction from sensory to mental state, that is, sensitivity, sense, sensibility, feeling, esthetics, emotion affection and intuition. A new fuzzy linear quantification method is tested in an artificial world by agent-based modeling and simulations, and the performance of the fuzzy linear method is compared with that of a genetic algorithm. The simulations can expand people＇s imagination and enhance people＇s intuition that the new fuzzy linear quantification method is effective.     

A hybrid model of knowledge management for new service development

Although many theories regarding the implementation of knowledge management (KM) in organizations have been proposed and studied, most applications tend to stand alone without incorporating the business processes. Different categories of knowledge provide different benefits and how to integrate various categories of KM into a hybrid approach as an effective KM manner remains strategically important, and yet is still understudied. Therefore, in this paper a hybrid model that integrates principal KM applications for new service development (NSD) and the measurement of the resulting financial benefits have been developed. The proposed KM model incorporates newsgroups, knowledge forums, knowledge asset management and knowledge application processes as a hybrid means for sharing organizational knowledge along two axes, explicit vs. implicit and individual vs. collective. One of the largest management consulting companies in Taiwan, China, whose process model of NSD was standing alone with KM applications, was selected for the case study. A set of hybrid KM processes was developed to implement the proposed KM model, and it illustrates an application with greater financial benefits for integrating hybrid KM practices into the business process. Based on knowledge value added (KVA) validation, the proposed KM model provides a new operating system for sharing NSD knowledge within an organization. Through the case study by measuring the achieved financial results, the proposed KM model is found to provide an exclusive hybrid platform with an empirical process model to address innovative approaches and practical values of KM within an organization.     

Study on the Reliability Evaluation of Qualitative Indices in Multi-Objective Decision

Qualitative indices in multi-objective decision can usually be evaluated and measured by mathematical methods or models, but the obtained results are sometimes inaccurate because of fuzziness of indices. To improve the accuracy and reliability of the evaluation results, set-value statistic principle is applied, and accordingly four evaluation methods are obtained. Meanwhile, these methods are compared briefly.     

Clustering patents using non-exhaustive overlaps

Patent documents are unique external sources of information that reveal the core technology underlying new inventions.Patents also serve as a strategic data source that can be mined to discover state-of-the-art technical development and subsequently help guide R&D investments.This research incorporates an ontology schema to extract and represent patent concepts.A clustering algorithm with non-exhaustive overlaps is proposed to overcome deficiencies with exhaustive clustering methods used in patent mining and technology discovery.The non-exhaustive clustering approach allows for the clustering of patent documents with overlapping technical findings and claims,a feature that enables the grouping of patents that define related key innovations.Legal advisors can use this approach to study potential cases of patent infringement or devise strategies to avoid litigation.The case study demonstrates the use of non-exhaustive overlaps algorithm by clustering US and Japan radio frequency identification (RFID) patents and by analyzing the legal implications of automated discovery of patent infringement.     

Removable ears of 1-extendable graphs

<正> Carvalho,Lucchesi and Murty proved that any 1-extendable graph G different from K_2and C_(2n)has at least Δ(G)edge-disjoint removable ears,and any brick G distinct from K_4 and■hasat least Δ(G)-2 removable edges,where Δ(G)denotes the maximum degree of G.In this paper,weimprove the lower bounds for numbers of removable ears and removable edges of 1-extendable graphs.It is proved that any 1-extendable graph G different from K_2 and C_(2n)has at least χ′(G)edge-disjointremovable ears,and any brick G distinct from K_4 and■has at least χ′(G)-2 removable edges,whereχ′(G)denotes the edge-chromatic number of G.