To solve the problem of setting threshold default risk criterion to select retailer eligible for trade credit granting, a novel method of solving simultaneous equations is proposed. This method is based on the bilevel...To solve the problem of setting threshold default risk criterion to select retailer eligible for trade credit granting, a novel method of solving simultaneous equations is proposed. This method is based on the bilevel programming modeling of trade credit decisions as an interaction between supplier and retailer. First, the bilevel programming is set up where the supplier decides on credit terms at the top level considering a retailer's default risk, and the retailer determines the order quantity at the lower level in response to the credit terms offered. By solving this bilevel programming, the relationship between the optimal terms and the corresponding default risk can be derived. Second, set the extreme scenario where the threshold default risk is approached as the point causing a zero marginal profit to the supplier. Another equation describing this particular scenario can also be derived. Thus, a system of two equations with two unknown variables can be obtained where the exact threshold default risk criterion can be found by solving them. A numerical example is presented as an illustration of the method proposed. It shows that the threshold criterion can be uniquely determined when the financial costs, inventory costs, and the marketing parameters of supplier and buyer are specified.展开更多
The risk points in the credit guarantee network of steel trade enterprises were identified by using the network analysis method in this paper. Firstly, the formation and operation mechanism of steel trade credit guara...The risk points in the credit guarantee network of steel trade enterprises were identified by using the network analysis method in this paper. Firstly, the formation and operation mechanism of steel trade credit guarantee network was analyzed.Secondly,a guarantee network was established to analyze the related network structure indexes based on the mutual guarantee data of 83 enterprises in a steel trade market. These indexes included centrality,honest broker,and structural hole. The results suggest that network analysis method can be used to find out the risk points of the guarantee network. Additionally,some recommendations are brought forth to reduce or prevent future crises.展开更多
为进一步提升综合能源系统环境效益,减少新能源出力不确定性所带来的潜在风险,提出了计及条件风险价值(conditional value at risk,CVaR)以及阶梯碳交易的综合能源系统优化调度模型。考虑到系统风电和光伏出力不确定性可能带来的影响,...为进一步提升综合能源系统环境效益,减少新能源出力不确定性所带来的潜在风险,提出了计及条件风险价值(conditional value at risk,CVaR)以及阶梯碳交易的综合能源系统优化调度模型。考虑到系统风电和光伏出力不确定性可能带来的影响,采用条件风险价值量度不确定性带来的潜在风险,并将碳捕获技术、电转气设备以及阶梯式碳交易机制引入系统调度模型,构建了综合考虑系统运行成本和碳交易成本的优化调度目标函数,由于所建立模型为混合整数规划问题,采用CPLEX求解器进行求解,设置4种场景进行验证分析,算例表明所提模型可有效减少二氧化碳排放,在兼顾经济性和环境性的同时引入CVaR,可避免由于忽略风光不确定性所带来的较为乐观的调度结果,使系统最终调度结果更为合理。展开更多
The economy is globalizing. But how are the different economic world regions performing regarding globalization of trade flows? Why are they performing differently? Globalization is not only the increase of internatio...The economy is globalizing. But how are the different economic world regions performing regarding globalization of trade flows? Why are they performing differently? Globalization is not only the increase of international trade between certain preferential geographic areas of economy, but also the resulting increase of interweavement of trade flows between different geographical areas, independent of the amount of trade. This paper is a revised and expanded version of the paper entitled “World Trade and Associated Systems Risk of Global Inequality: Empiric Study of Globalization Evolution between 2003-2011 and Regional Pattern Analysis” presented at International Conference on Applied Economics (ICOAE2013), Istanbul, 27-29 June, 2013. This paper analyzes the evolution of world trade flows between 2003-2012 and performs a cross-section analysis of the year 2012. The economic interweavement will be measured by an inequality risk metric applied to the supply-demand matrix. This risk indicator is based on the concept of statistical entropy resulting in an inequality risk measure, giving an indication for the degree of economic globalization and the evolution of globalization in different geographical regions. In addition, it analyses the governing rational of globalization evolution. The result of this research shows that economic trade flows are globalizing, but with clear different regional patterns, not only between globalizing and de-globalizing regions, but also within the globalizing and de-globalizing regions itself. The emerging economies such as China or the Middle East are globalizing whereas mature economies such as North America and Europe are de-globalizing, confirming for globalization of the inverse Kuznets evolution. The different patterns between the different economic world regions can be explained by using the Globalization Type’s Model as well as the Central Theorem of Globalization.展开更多
基金The National Natural Science Foundation of China (No.70502005)
文摘To solve the problem of setting threshold default risk criterion to select retailer eligible for trade credit granting, a novel method of solving simultaneous equations is proposed. This method is based on the bilevel programming modeling of trade credit decisions as an interaction between supplier and retailer. First, the bilevel programming is set up where the supplier decides on credit terms at the top level considering a retailer's default risk, and the retailer determines the order quantity at the lower level in response to the credit terms offered. By solving this bilevel programming, the relationship between the optimal terms and the corresponding default risk can be derived. Second, set the extreme scenario where the threshold default risk is approached as the point causing a zero marginal profit to the supplier. Another equation describing this particular scenario can also be derived. Thus, a system of two equations with two unknown variables can be obtained where the exact threshold default risk criterion can be found by solving them. A numerical example is presented as an illustration of the method proposed. It shows that the threshold criterion can be uniquely determined when the financial costs, inventory costs, and the marketing parameters of supplier and buyer are specified.
基金Social Science Programs Foundation of Ministry of Education of China(No.10YJA910002)
文摘The risk points in the credit guarantee network of steel trade enterprises were identified by using the network analysis method in this paper. Firstly, the formation and operation mechanism of steel trade credit guarantee network was analyzed.Secondly,a guarantee network was established to analyze the related network structure indexes based on the mutual guarantee data of 83 enterprises in a steel trade market. These indexes included centrality,honest broker,and structural hole. The results suggest that network analysis method can be used to find out the risk points of the guarantee network. Additionally,some recommendations are brought forth to reduce or prevent future crises.
文摘为进一步提升综合能源系统环境效益,减少新能源出力不确定性所带来的潜在风险,提出了计及条件风险价值(conditional value at risk,CVaR)以及阶梯碳交易的综合能源系统优化调度模型。考虑到系统风电和光伏出力不确定性可能带来的影响,采用条件风险价值量度不确定性带来的潜在风险,并将碳捕获技术、电转气设备以及阶梯式碳交易机制引入系统调度模型,构建了综合考虑系统运行成本和碳交易成本的优化调度目标函数,由于所建立模型为混合整数规划问题,采用CPLEX求解器进行求解,设置4种场景进行验证分析,算例表明所提模型可有效减少二氧化碳排放,在兼顾经济性和环境性的同时引入CVaR,可避免由于忽略风光不确定性所带来的较为乐观的调度结果,使系统最终调度结果更为合理。
文摘The economy is globalizing. But how are the different economic world regions performing regarding globalization of trade flows? Why are they performing differently? Globalization is not only the increase of international trade between certain preferential geographic areas of economy, but also the resulting increase of interweavement of trade flows between different geographical areas, independent of the amount of trade. This paper is a revised and expanded version of the paper entitled “World Trade and Associated Systems Risk of Global Inequality: Empiric Study of Globalization Evolution between 2003-2011 and Regional Pattern Analysis” presented at International Conference on Applied Economics (ICOAE2013), Istanbul, 27-29 June, 2013. This paper analyzes the evolution of world trade flows between 2003-2012 and performs a cross-section analysis of the year 2012. The economic interweavement will be measured by an inequality risk metric applied to the supply-demand matrix. This risk indicator is based on the concept of statistical entropy resulting in an inequality risk measure, giving an indication for the degree of economic globalization and the evolution of globalization in different geographical regions. In addition, it analyses the governing rational of globalization evolution. The result of this research shows that economic trade flows are globalizing, but with clear different regional patterns, not only between globalizing and de-globalizing regions, but also within the globalizing and de-globalizing regions itself. The emerging economies such as China or the Middle East are globalizing whereas mature economies such as North America and Europe are de-globalizing, confirming for globalization of the inverse Kuznets evolution. The different patterns between the different economic world regions can be explained by using the Globalization Type’s Model as well as the Central Theorem of Globalization.
