Search results for " economic"
showing 10 items of 10501 documents
Towards a virtual factory prototype
2015
International audience; A virtual factory should represent most of the features and operations of the corresponding real factory. Some of the key features of the virtual factory include the ability to assess performance at multiple resolutions and generate analytics data similar to what is possible in a real factory. One should be able to look at the overall factory performance and be able to drill down to a machine and analyze its performance. It will require a large amount of effort and expertise to build such a virtual factory. This paper describes an effort to build a multiple resolution model of a manufacturing cell. The model provides the ability to study the performance at the cell l…
Modeling Energy Demand Aggregators for Residential Consumers
2013
International audience; Energy demand aggregators are new actors in the energy scenario: they gather a group of energy consumers and implement a demand- response paradigm. When the energy provider needs to reduce the current energy demand on the grid, it can pay the energy demand aggregator to reduce the load by turning off some of its consumers loads or postponing their activation. Currently this operation involves only greedy energy consumers like industrial plants. In this paper we want to study the potential of aggregating a large number of small energy consumers like home users as it may happen in smart grids. In particular we want to address the feasibility of such approach by conside…
Robust Mean Field Games with Application to Production of an Exhaustible Resource
2012
International audience; In this paper, we study mean field games under uncertainty. We consider a population of players with individual states driven by a standard Brownian motion and a disturbance term. The contribution is three-fold: First, we establish a mean field system for such robust games. Second, we apply the methodology to an exhaustible resource production. Third, we show that the dimension of the mean field system can be significantly reduced by considering a functional of the first moment of the mean field process.
Care Workers’ Readiness for Robotization : Identifying Psychological and Socio-Demographic Determinants
2020
Successful implementation of robots in welfare services requires that the staff approves of them as a part of daily work tasks. In this study, we identified psychological and socio-demographic determinants associated with readiness for robotization among professional Finnish care-workers. National survey data were collected from professional care workers (n = 3800) between October and November 2016. Random samples were drawn from the member registers of two Finnish trade unions. The data were analyzed with regression models for respondents with and without firsthand experience with robots. The models explained 34–39% of the variance in the readiness for robotization. The readiness was posit…
Outward Investments and Productivity: Evidence from European Regions
2016
Castellani D. and Pieri F. Outward investments and productivity: evidence from European regions, Regional Studies. Using a novel data set on international investment projects, this paper builds measures of outward foreign direct investments (FDIs) for 262 regions of the European Union. This allows as estimation to be made of regressions of productivity growth over the 2007–11 period as a function of the number of FDIs. The number of outward FDIs in manufacturing activities is negatively associated with productivity growth in the home region, but investments in sales, distribution and marketing are associated with a boost in local productivity. This is driven especially by investments toward…
Does EU cohesion policy work? Theory and evidence
2017
This paper evaluates the effectiveness of European Cohesion Policy in the regions of 12 EU countries in the period 1991–2008, on the basis of a spatial growth model, which allows for the identification of both direct and indirect effects of EU funds on GDP per worker growth. We find that “Objective 1” funds are characterized by strong spatial externalities and a positive and concave effect on the growth of GDP per worker, which reaches a peak at the ratio funds/GDP of approximately 3 percent and becomes non-significant after 4 percent. “Objective 2” and “Cohesion” funds have nonsignificant effects, while all the other funds exert a positive and significant effect, but their size is very lim…
Shelf life-based inventory management policy for RF monitored warehouse
2018
Post-harvest losses of perishable products strongly depend on inefficiencies of the entire supply chain. In particular, these inefficiencies can be reduced by optimizing the warehouse management, taking into account the remaining shelf life of the product, and matching it to the requirements of the subsequent part of the handling chain. The replacement of First In First Out picking rule with Last Shelf Life First Out policy has been proved to improve the overall performance of the supply chain. The practicability of such approach is related to the possibility of monitoring the deterioration rate of the products and of predicting the residual shelf-life, that is mainly influenced by harvesti…
Exploring the application of blockchain to humanitarian supply chains: insights from Humanitarian Supply Blockchain pilot project
2021
PurposeSome studies and reports have recently suggested using blockchain technology to improve transparency and trust in humanitarian supply chains (HSCs). However, evidence-based studies to display the utility and applicability of blockchains in HSCs are missing in the literature. This paper aims to investigate the key drivers and barriers of blockchain application to HSCs and explore whether evidence could support that the application of blockchain improves transparency and trust in HSCs.Design/methodology/approachThis paper puts forward a two-stage approach to explore the blockchain application in HSCs: an initial exploration of humanitarian practitioners and academicians interested in b…
Pricing Sovereign Contingent Convertible Debt
2016
We develop a pricing model for sovereign contingent convertible bonds (S-CoCo) with payment standstills triggered by a sovereign's credit default swap CDS spread. One innovation is the modeling of CDS spread regime switching which is prevalent during crises. Regime switching is modeled as a hidden Markov process and is integrated with a stochastic process of spread levels to obtain S-CoCo prices through simulation. The paper goes a step further and uses the pricing model in a Longstaff-Schwartz. American option pricing framework to compute state contingent S-CoCo prices at some risk horizon, thus facilitating risk management. Dual trigger pricing is also discussed using the idiosyncratic CD…
Applying System Dynamics Modelling to Strategic Management: A Literature Review
2016
System dynamics (SD) has been proved to be a useful methodology to support both understanding and learning processes of complex systems and phenomena. Since its origin, SD has been successfully applied to many different fields of studies (e.g. climate change, physics, engineering, environmental sciences, economics, management, etc.). Among these, strategic management (SM) has a particular relevance as testified by several streams of research that originate from the combination between SD modelling and SM. The aim of this paper is to explore and discuss the theoretical and empirical development of SD in the SM field through a systematic analysis of the literature in order to highlight the ma…