Uncertainties, such as road restrictions at shipyards and the irregular shape of blocks, pose challenges for transporter scheduling. Efficient scheduling of multiple transporters is critical to ...improving transportation efficiency. The digital twin (DT) technology offers numerous benefits, enabling interactions between the virtual and real worlds, real-time mapping, and dynamic performance evaluation. Based on DT technology, this study proposes a dynamic scheduling approach for cooperative transportation utilizing multiple transporters. The scheduling problem for multiple transporters is addressed and modeled in this study, considering factors such as block size and transporter loading. To solve this problem, a framework of DT-based multiple transporters system is established in a virtual environment. By inputting block information into this system, a solution is generated using transporter scheduling rules and interference detection methods. Experimental comparisons are conducted in this paper, exploring various scenarios with different number of tasks and the application of DT. The results demonstrate that the proposed approach effectively enhances transportation efficiency and improves ship construction efficiency. Hence, this study expands the application of DT technology in dynamic scheduling of transportation in shipyards and provides new ideas for shipbuilding company managers.
A question of increasing interest to researchers in a variety of fields is whether the biases found in judgment and decision-making research remain present in contexts in which experienced ...participants face strong economic incentives. To investigate this question, we analyze the decision making of National Football League teams during their annual player draft. This is a domain in which monetary stakes are exceedingly high and the opportunities for learning are rich. It is also a domain in which multiple psychological factors suggest that teams may overvalue the chance to pick early in the draft. Using archival data on draft-day trades, player performance, and compensation, we compare the market value of draft picks with the surplus value to teams provided by the drafted players. We find that top draft picks are significantly overvalued in a manner that is inconsistent with rational expectations and efficient markets, and consistent with psychological research.
This paper was accepted by Uri Gneezy, behavioral economics.
This paper uses NASDAQ order book data for the S&P 500 exchange traded fund (SPY) to examine the relationship between one-minute, informational market efficiency and high frequency trading (HFT). We ...find that the level of efficiency varies widely over time and appears to cluster. Periods of high efficiency are followed by periods of low efficiency and vice versa. Further, we find that HFT activity is higher during periods of low efficiency. This supports the argument that HFTs seek profits and risk reduction by actively processing information, through limit order additions and cancellations, during periods of lower efficiency and revert to more passive market-making and rebate-generation during periods of higher efficiency. These findings support the argument that the adaptive market hypothesis (AMH) is an appropriate description of how prices evolve to incorporate information.
This book is a practical guide to Asia's stock markets for a general audience. It is for people who do not know much about financial markets but, for whatever reason, would like to learn more. They ...could be seasoned expatriate pilots, academics and other professionals, newcomers in the region as well as students or young men and women about to start in the finance industry. The idea is to cut through the alphabet soup of industry jargon to provide a clear understanding of how these markets work, how they differ from each other in size and depth, what unique features each stock market has and what drives all the different sectors in these markets - consumers, the internet, banks and technology. The book includes helpful history lessons and personal anecdotes drawn from the author's 30 years in the world of Asian investments.
We present a novel digital twin model that implements advanced artificial intelligence techniques to robustly link news and stock market uncertainty. On the basis of central results in financial ...economics, our model efficiently identifies, quantifies, and forecasts the uncertainty encapsulated in the news by mirroring the human mind's information processing mechanisms. After obtaining full statistical descriptions of the timeline and contextual patterns of the appearances of specific words, the applied data mining techniques lead to the definition of regions of homogeneous knowledge. The absence of a clear assignment of informative elements to specific knowledge regions is regarded as uncertainty, which is then measured and quantified using Shannon Entropy. As compared with standard models, the empirical analyses demonstrate the effectiveness of this approach in anticipating stock market uncertainty, thus showcasing a meaningful integration of natural language processing, artificial intelligence, and information theory to comprehend the perception of uncertainty encapsulated in the news by market agents and its subsequent impact on stock markets.
Swiss Finance Meier, Henri B; Marthinsen, John E; Gantenbein, Pascal A ...
2023, 2023-04-01
eBook
Odprti dostop
How could a small country in the middle of Europe, surrounded by much bigger countries and economic giants like Germany and France and in direct competition with North American and Asian rivals, ...develop world-class, cutting-edge financial markets? Swiss Finance answers this question, separating myth from reality, by explaining how Switzerland managed dramatic pressures brought to bear on its financial markets during the past two decades, perhaps none of them so great as the: · Competitive challenges caused by changes in Switzerland's banking secrecy laws and practices, · Shifting tide of new wealth generation toward Asia (e.g., China, Singapore, and South Korea), · Burdensome federal stamp and withholding taxes, and · Digitalization of the financial services industry, including cybersecurity, cryptocurrencies, smart contracts, central bank digital currencies, the FinTech revolution, and DLT applications. Swiss Finance thoroughly analyzes Swiss financial markets’ successes and challenges. It covers critical topics for practitioners and academics to fully understand this unique development in world financial markets and private wealth administration. ; Provides thorough coverage of Swiss financial markets, their development, status, and expected position in the global economy Discusses the dramatic changes that have taken place in global financial markets, which have affected Swiss financial governance, regulation, financial structures, and institutions Covers new topics such as financial digitalization, FinTech, the collaborative economy, the impact of cryptocurrencies, distributed ledger technologies, and smart contracts
In this paper, a heavy-tailed distribution approach is considered in order to explore the behavior of actual financial time series. We show that this kind of distribution allows to properly fit the ...empirical distribution of the stocks from S&P500 index. In addition to that, we explain in detail why the underlying distribution of the random process under study should be taken into account before using its self-similarity exponent as a reliable tool to state whether that financial series displays long-range dependence or not. Finally, we show that, under this model, no stocks from S&P500 index show persistent memory, whereas some of them do present anti-persistent memory and most of them present no memory at all.
This book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and ...rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that the return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone.
PDF
