Search results for: Chengli Liu

Authors: Chengli Liu, C. K. M. Lee

Abstract:

The tradition competitive newsvendor game assumes decision makers are rational. However, there are behavioral biases when people make decisions, such as loss aversion, mental accounting and overconfidence. Overestimation of a subject’s own performance is one type of overconfidence. The objective of this research is to analyze the impact of the overestimated demand in the newsvendor competitive game with two players. This study builds a competitive newsvendor game model where newsvendors have private information of their demands, which is overestimated. At the same time, demands of each newsvendor forecasted by a third party institution are available. This research shows that the overestimation leads to demand steal effect, which reduces the competitor’s order quantity. However, the overall supply of the product increases due to overestimation. This study illustrates the boundary condition for the overestimated newsvendor to have the equilibrium order drop due to the demand steal effect from the other newsvendor. A newsvendor who has higher critical fractile will see its equilibrium order decrease with the drop of estimation level from the other newsvendor.

Keywords: bias, competing newsvendor, Nash equilibrium, overestimation

Procedia PDF Downloads 261

Authors: Yating Yang, Xue Zhang, Chengli Zhao

Abstract:

Technology capability refers to the comprehensive ability that influences all factors of technological development. Among them, researchers’ resources serve as the foundation and driving force for technology capability, representing a significant manifestation of a country/region's technological capability. Therefore, the cross-border transfer behavior of researchers to some extent reflects changes in technological capability between countries/regions, providing a unique research perspective for technological capability assessment. This paper proposes a technological capability assessment model based on personnel transfer networks, which consists of a researchers' transfer network model and a country/region role evolution model. It evaluates the changes in a country/region's technological capability roles from the perspective of researcher transfers and conducts an analysis using artificial intelligence as a case study based on literature data. The study reveals that the United States, China, and the European Union are core nodes, and identifies the role evolution characteristics of several major countries/regions.

Keywords: transfer network, technological capability assessment, central-peripheral structure, role evolution

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Authors: Yating Yang, Xue Zhang, Chengli Zhao

Abstract:

In the increasingly interconnected global environment brought about by globalization, it is crucial for countries to timely grasp the development motivations in relevant research fields of other countries and seize development opportunities. Motivation, as the intrinsic driving force behind actions, is abstract in nature, making it difficult to directly measure and evaluate. Drawing on the ideas of social influence network theory, the research motivations of a country can be understood as the driving force behind the development of its science and technology sector, which is simultaneously influenced by both the country itself and other countries/regions. In response to this issue, this paper improves upon Friedkin's social influence network theory and applies it to motivation description, constructing a dynamic alliance network and hostile network centered around the United States and China, as well as a sensitivity matrix, to remotely assess the changes in national research motivations under the influence of international relations. Taking artificial intelligence as a case study, the research reveals that the motivations of most countries/regions are declining, gradually shifting from a neutral attitude to a negative one. The motivation of the United States is hardly influenced by other countries/regions and remains at a high level, while the motivation of China has been consistently increasing in recent years. By comparing the results with real data, it is found that this model can reflect, to some extent, the trends in national motivations.

Keywords: influence network theory, remote assessment, relation matrix, dynamic sensitivity matrix

Procedia PDF Downloads 66