A variational inequality formulation of equilibrium models for end-of-life products with nonlinear constraints

Variational inequality theory facilitates the formulation of equilibrium problems in economic networks. Examples of successful applications include models of supply chains, financial networks, transportation networks, and electricity networks. Previous economic network equilibrium models that were formulated as variational inequalities only included linear constraints; in this case the equivalence between equilibrium problems and variational inequality problems is achieved with a standard procedure because of the linearity of the constraints. However, in reality, often nonlinear constraints can be observed in the context of economic networks. In this paper, we first highlight with an application from the context of reverse logistics why the introduction of nonlinear constraints is beneficial. We then show mathematical conditions, including a constraint qualification and convexity of the feasible set, which allow us to characterize the economic problem by using a variational inequality formulation. Then, we provide numerical examples that highlight the applicability of the model to real-world problems. The numerical examples provide specific insights related to the role of collection targets in achieving sustainability goals.     

Logging damage and injured tree mortality in tropical forest management

Using insights from the forest ecology literature, we analyze the effect of injured trees on stand composition and carbon stored in above‐ground biomass and the implications for forest management decisions. Results from a Faustmann model with data for a tropical forest on Kalimantan show that up to 50% of the basal area of the stand before harvest can consist of injured trees. Considering injured trees leads to an increase in the amount of carbon in above‐ground biomass of up to 165%. These effects are larger under reduced impact logging than under conventional logging. The effects on land expectation value and cutting cycle are relatively small. The results suggest that considering injured trees in models for tropical forest management is important for the correct assessment of the potential of financial programs to store carbon and conserve forest ecosystem services in managed tropical forests, such as reducing emissions from deforestation and forest degradation and payment for ecosystem services. Recommendations for Resource Managers

• Considering the role of injured trees is important for managing tropical forests
• These trees can cover up to 50% of basal area and contain more than 50% of the carbon stored in above‐ground biomass
• Reduced impact logging leads to a larger basal area of injured trees and more carbon stored in injured trees than conventional logging
• Injured trees play an important role when assessing the potential for carbon storage in the context of payment for forest ecosystem services.

     

英国国家科研与创新署学科交叉研究资助机制及启示

Newly established in 2018, the UK Research and Innovation (UKRI) strengthens the strategic coordination of the UK research and innovation system by bringing together seven Research Councils, Research England, and Innovate UK. Through its nine organizations, UKRI funds multidisciplinary and interdisciplinary research in a number of priority areas. It also runs the Strategic Priorities Fund to support multidisciplinary and interdisciplinary research in strategic areas identified by government policies as well as the Global Challenges Research Fund to promote challenge-led interdisciplinary research needed by developing countries. The UKRI makes significant efforts to engage stakeholders in the development, design, and implementation of multidisciplinary and interdisciplinary programs. It has also developed a range of mechanisms to improve the evaluation of multidisciplinary and interdisciplinary projects. Chinese science and innovation funding agencies could draw upon the UKRI experience from four aspects to advance interdisciplinary research in China.     

贴牌生产供应链混合渠道构建基础及优化机理研究

研究由制造商和品牌商组成的混合渠道贴牌生产供应链渠道结构优化问题,制造商通过直销和贴牌两条渠道销售产品.通过与单一渠道比较,分别推导出制造商和品牌商选择混合渠道的依据和优越性,进而归纳出双方共同接受混合渠道的制造商生产成本和品牌商品牌溢价优化条件,分析了渠道转移系数对双方构建混合渠道结构条件的影响,得出了制造商生产成本和品牌商品牌溢价作为竞争要素的互动决策改进贴牌供应链整体绩效的优化机理.     

Why indexing works

We develop a simple stock selection model to explain why active equity managers tend to underperform a benchmark index. We motivate our model with the empirical observation that the best performing stocks in a broad market index often perform much better than the other stocks in the index. Randomly selecting a subset of securities from the index may dramatically increase the chance of underperforming the index. The relative likelihood of underperformance by investors choosing active management likely is much more important than the loss those same investors take due to the higher fees of active management relative to passive index investing. Thus, active management may be even more challenging than previously believed, and the stakes for finding the best active managers may be larger than previously assumed.     

Risk externalities and too big to fail

This paper establishes the case for a fallacy of economies of scale in large aggregate institutions and the effects of scale risks. The problem of rogue trading and excessive risk taking is taken as a case example. Assuming (conservatively) that a firm exposure and losses are limited to its capital while external losses are unbounded, we establish a condition for a firm not to be allowed to be too big to fail. In such a case, the expected external losses second derivative with respect to the firm capital at risk is positive. Examples and analytical results are obtained based on simplifying assumptions and focusing exclusively on the risk externalities that firms too big to fail can have.     

Self‐assembly of Carbon Particles as a Heat Sink Coating to Promote Radiative Cooling

Novel composite carbon particles are developed that can self‐assemble as a coating on a substrate without a binder. These carbon particles were used as a coating to enhance thermal dissipation and their thermal conductivity, surface emissivity and cooling performance were measured. Carbon particles with both thiol and epoxy functional groups self‐assembled to form a coating on the surface of a heat sink without a binder, which greatly improved the thermal conductivity of the coating. Coating a heat sink with the carbon particles yielded a higher thermal conductivity and emissivity than could be obtained with the addition of binder in the conventional approach, and significantly enhanced the cooling performance. In addition, the cooling performance of the carbon nanotube outperformed all other particles when coated on a substrate, because it had the highest thermal conductivity and good radiation emissivity. We developed an equation to describe the various parameters affecting the cooling performance of the thermally dissipative coating. This equation was confirmed by the experimental data.     

Time-dependent optimization of a multi-item uncertain supply chain network: A hybrid approximation algorithm

We consider the uncertain least cost shipping problem. The input is a multi-item supply chain network with time-evolving uncertain costs and capacities. Exploiting the operational law of uncertainty theory, a mathematical model of the problem is established and the indeterminacy factors are tackled. We use the scaling idea together with transformation approach and uncertainty programming to develop a hybrid algorithm to optimize and obtain the uncertainty distribution of the total shipping cost. We analyze the practical performance of the algorithm and present an illustrative example.