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1 – 10 of 38Salvador Cruz Rambaud and Paula Ortega Perals
The framework of this paper is financial mathematics and, more specifically, the control of data fraud and manipulation with their subsequent economic effects, namely, in…
Abstract
Purpose
The framework of this paper is financial mathematics and, more specifically, the control of data fraud and manipulation with their subsequent economic effects, namely, in financial markets. The purpose of this paper is to calculate the global loss or gain, which supposes, for the borrower, a change of the interest rate while the contracted loan is in force or, in another case, the loan has finished.
Design/methodology/approach
The methodology used in this work has been, in the first place, a review of the existing literature on the topic of manipulability and abusiveness of the loan interest rates applied by banks; in the second place, the introduction of a mathematical-financial analysis to calculate the interests paid in excess; and, finally, the compilation of several sentences issued on the application of the so-called mortgage loan reference index (MLRI) to mortgage loans in Spain.
Findings
There are three main contributions in this paper. First, the calculation of the interests paid in excess in the amortization of mortgage loans referenced to an overvalued interest rate. Second, an empirical application shows the amount to be refunded to a Spanish consumer when amortizing his/her mortgage loan referenced to the MLRI instead of the Euro InterBank Offered Rate (EURIBOR). Third, consideration has been made to the effects and the possible solutions to the legal problems arising from this type of contract.
Research limitations/implications
This research is a useful tool capable of implementing the financial calculation needed to find out overpaid interests in mortgage loans and to execute the sentences dealing with this topic. However, a limitation of this study is the lack of enough sentences on mortgage loans referenced to the MLRI to get some additional information about the number of borrowers affected by these legal sentences and the amount refunded by the financial institutions.
Originality/value
To the best of the authors’ knowledge, this is the first time that deviations in the payment of interests have been calculated when amortizing a mortgage.
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Chaonan Tang, Zhisong Chen and Jianhui Peng
With the growing economic impact of e-commerce and the increasing trend of omnichannel mode, more considerate services can be provided to customers. This paper aims to explore the…
Abstract
Purpose
With the growing economic impact of e-commerce and the increasing trend of omnichannel mode, more considerate services can be provided to customers. This paper aims to explore the optimal practice of business strategies and enrich the research content of marine tourism omnichannel.
Design/methodology/approach
This paper studies the optimal practice of bundling pricing and service effort strategies between two tourism suppliers (TSs) and a travel agent (TA) who distributes complementary products in marine tourism omnichannel considering joint efforts of both sides. This study develops five models by Stackelberg and Nash game and introduces the revenue-sharing contract. All outcomes/results are analyzed and the corresponding numerical and sensitivity analyses are conducted to derive more managerial implications and business insights.
Findings
The main findings show that bundling price is directly proportional to inter-channel integration coefficient and service effort level coefficient, and inversely proportional to the price elasticity coefficient. TA tends to provide a higher level of service effort than TSs when TA plays a dominant role. Improving the service effort level unduly leads to a decline in profits. Moreover, TSs and TA can reach a win-win situation under the coordination mechanism and the marine tourism omnichannel can achieve the best performance.
Originality/value
A novel and useful approach towards joint equilibrium decisions of bundle pricing and service efforts in marine tourism omnichannel with complementary tourism products under different operational strategies is proposed.
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This study describes the applicability of the a priori estimate method on a nonlocal nonlinear fractional differential equation for which the weak solution's existence and…
Abstract
Purpose
This study describes the applicability of the a priori estimate method on a nonlocal nonlinear fractional differential equation for which the weak solution's existence and uniqueness are proved. The authors divide the proof into two sections for the linear associated problem; the authors derive the a priori bound and demonstrate the operator range density that is generated. The authors solve the nonlinear problem by introducing an iterative process depending on the preceding results.
Design/methodology/approach
The functional analysis method is the a priori estimate method or energy inequality method.
Findings
The results show the efficiency of a priori estimate method in the case of time-fractional order differential equations with nonlocal conditions. Our results also illustrate the existence and uniqueness of the continuous dependence of solutions on fractional order differential equations with nonlocal conditions.
Research limitations/implications
The authors’ work can be considered a contribution to the development of the functional analysis method that is used to prove well-positioned problems with fractional order.
Originality/value
The authors confirm that this work is original and has not been published elsewhere, nor is it currently under consideration for publication elsewhere.
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The author studies forms over finite fields obtained as the determinant of Hermitian matrices and use these determinatal forms to define and study the base polynomial of a square…
Abstract
Purpose
The author studies forms over finite fields obtained as the determinant of Hermitian matrices and use these determinatal forms to define and study the base polynomial of a square matrix over a finite field.
Design/methodology/approach
The authors give full proofs for the new results, quoting previous works by other authors in the proofs. In the introduction, the authors quoted related references.
Findings
The authors get a few theorems, mainly describing some monic polynomial arising as a base polynomial of a square matrix.
Originality/value
As far as the author knows, all the results are new, and the approach is also new.
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In this paper some characterizations for the existence of warped product pointwise semi-slant submanifolds of cosymplectic space forms are obtained. Moreover, a sharp estimate for…
Abstract
In this paper some characterizations for the existence of warped product pointwise semi-slant submanifolds of cosymplectic space forms are obtained. Moreover, a sharp estimate for the squared norm of the second fundamental form is investigated, the equality case is also discussed. By the application of derived inequality, we compute an expression for Dirichlet energy of the involved warping function. Finally, we also proved some classifications for these warped product submanifolds in terms of Ricci solitons and Ricci curvature. A non-trivial example of these warped product submanifolds is provided.
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Stef Lommen, Gabriel Lodewijks and Dingena L. Schott
Bulk material-handling equipment development can be accelerated and is less expensive when testing of virtual prototypes can be adopted. However, often the complexity of the…
Abstract
Purpose
Bulk material-handling equipment development can be accelerated and is less expensive when testing of virtual prototypes can be adopted. However, often the complexity of the interaction between particulate material and handling equipment cannot be handled by a single computational solver. This paper aims to establish a framework for the development, verification and application of a co-simulation of discrete element method (DEM) and multibody dynamics (MBD).
Design/methodology/approach
The two methods have been coupled in two directions, which consists of coupling the load data on the geometry from DEM to MBD and the position data from MBD to DEM. The coupling has been validated thoroughly in several scenarios, and the stability and robustness have been investigated.
Findings
All tests clearly demonstrated that the co-simulation is successful in predicting particle–equipment interaction. Examples are provided describing the effects of a coupling that is too tight, as well as a coupling that is too loose. A guideline has been developed for achieving stable and efficient co-simulations.
Originality/value
This framework shows how to achieve realistic co-simulations of particulate material and equipment interaction of a dynamic nature.
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Yue Zhou, Xiaobei Shen and Yugang Yu
This study examines the relationship between demand forecasting error and retail inventory management in an uncertain supplier yield context. Replenishment is segmented into…
Abstract
Purpose
This study examines the relationship between demand forecasting error and retail inventory management in an uncertain supplier yield context. Replenishment is segmented into off-season and peak-season, with the former characterized by longer lead times and higher supply uncertainty. In contrast, the latter incurs higher acquisition costs but ensures certain supply, with the retailer's purchase volume aligning with the acquired volume. Retailers can replenish in both phases, receiving goods before the sales season. This paper focuses on the impact of the retailer's demand forecasting bias on their sales period profits for both phases.
Design/methodology/approach
This study adopts a data-driven research approach by drawing inspiration from real data provided by a cooperating enterprise to address research problems. Mathematical modeling is employed to solve the problems, and the resulting optimal strategies are tested and validated in real-world scenarios. Furthermore, the applicability of the optimal strategies is enhanced by incorporating numerical simulations under other general distributions.
Findings
The study's findings reveal that a greater disparity between predicted and actual demand distributions can significantly reduce the profits that a retailer-supplier system can earn, with the optimal purchase volume also being affected. Moreover, the paper shows that the mean of the forecasting error has a more substantial impact on system revenue than the variance of the forecasting error. Specifically, the larger the absolute difference between the predicted and actual means, the lower the system revenue. As a result, managers should focus on improving the quality of demand forecasting, especially the accuracy of mean forecasting, when making replenishment decisions.
Practical implications
This study established a two-stage inventory optimization model that simultaneously considers random yield and demand forecast quality, and provides explicit expressions for optimal strategies under two specific demand distributions. Furthermore, the authors focused on how forecast error affects the optimal inventory strategy and obtained interesting properties of the optimal solution. In particular, the property that the optimal procurement quantity no longer changes with increasing forecast error under certain conditions is noteworthy, and has not been previously noted by scholars. Therefore, the study fills a gap in the literature.
Originality/value
This study established a two-stage inventory optimization model that simultaneously considers random yield and demand forecast quality, and provides explicit expressions for optimal strategies under two specific demand distributions. Furthermore, the authors focused on how forecast error affects the optimal inventory strategy and obtained interesting properties of the optimal solution. In particular, the property that the optimal procurement quantity no longer changes with increasing forecast error under certain conditions is noteworthy, and has not been previously noted by scholars. Therefore, the study fills a gap in the literature.
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Geming Zhang, Lin Yang and Wenxiang Jiang
The purpose of this study is to introduce the top-level design ideas and the overall architecture of earthquake early-warning system for high speed railways in China, which is…
Abstract
Purpose
The purpose of this study is to introduce the top-level design ideas and the overall architecture of earthquake early-warning system for high speed railways in China, which is based on P-wave earthquake early-warning and multiple ways of rapid treatment.
Design/methodology/approach
The paper describes the key technologies that are involved in the development of the system, such as P-wave identification and earthquake early-warning, multi-source seismic information fusion and earthquake emergency treatment technologies. The paper also presents the test results of the system, which show that it has complete functions and its major performance indicators meet the design requirements.
Findings
The study demonstrates that the high speed railways earthquake early-warning system serves as an important technical tool for high speed railways to cope with the threat of earthquake to the operation safety. The key technical indicators of the system have excellent performance: The first report time of the P-wave is less than three seconds. From the first arrival of P-wave to the beginning of train braking, the total delay of onboard emergency treatment is 3.63 seconds under 95% probability. The average total delay for power failures triggered by substations is 3.3 seconds.
Originality/value
The paper provides a valuable reference for the research and development of earthquake early-warning system for high speed railways in other countries and regions. It also contributes to the earthquake prevention and disaster reduction efforts.
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Liang Wang, Jiaming Wu, Xiaopeng Li, Zhaohui Wu and Lin Zhu
This paper aims to address the longitudinal control problem for person-following robots (PFRs) for the implementation of this technology.
Abstract
Purpose
This paper aims to address the longitudinal control problem for person-following robots (PFRs) for the implementation of this technology.
Design/methodology/approach
Nine representative car-following models are analyzed from PFRs application and the linear model and optimal velocity model/full velocity difference model are qualified and selected in the PFR control.
Findings
A lab PFR with the bar-laser-perception device is developed and tested in the field, and the results indicate that the proposed models perform well in normal person-following scenarios.
Originality/value
This study fills a gap in the research on PRFs longitudinal control and provides a useful and practical reference on PFRs longitudinal control for the related research.
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Ahmed Berkane and Abdallah Bradji
We consider, as discretization in space, the nonconforming mesh developed in SUSHI (Scheme Using Stabilization and Hybrid Interfaces) developed in Eymard et al. (2010) for a…
Abstract
We consider, as discretization in space, the nonconforming mesh developed in SUSHI (Scheme Using Stabilization and Hybrid Interfaces) developed in Eymard et al. (2010) for a semi-linear heat equation. The time discretization is performed using a uniform mesh. We are concerned with a nonlinear scheme that has been studied in Bradji (2016) in the context of the general framework GDM (Gradient Discretization Method) (Droniou et al., 2018) which includes SUSHI. We provide sufficient conditions on the size of the spatial mesh and the time step which allow to prove a
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