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Dynamic General Equilibrium Modelling for Forecasting and Policy: A Practical Guide and Documentation of MONASH
Type: Book
ISBN: 978-0-44451-260-4

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Article
Publication date: 24 April 2020

Jiawei Wang and Quansheng sun

In order not to affect the highway and railway traffic under the bridge during the construction process, bridges adopting swivel construction method are increasingly used…

Abstract

Purpose

In order not to affect the highway and railway traffic under the bridge during the construction process, bridges adopting swivel construction method are increasingly used at areas where the traffic is heavy. Previous studies are mostly conducted by assuming that the bridge is under its own stability conditions, without considering the impact of construction error, changes of external condition and wind-induced vibration on the stability of the bridge, which poses serious challenges to the bridge construction process. This paper aims to analyze the extent to which static load and fluctuating wind effect influence structural stability and to test the credibility of the structure.

Design/methodology/approach

A finite element calculation method is used to analyze a T-shaped rigid frame swivel bridge. A full bridge model was built, and a local model of the turntable structure established; the two are then combined means of node coupling. Subsequently, the three sensitivity indexes – deflection rate, stress change rate and the change rate of spherical hinges – are used to evaluate in what way the bridge stability is influenced under various factors.

Findings

It is found that the stability of the swivel bridge is quite sensitive to unilateral overweight, steel beam tension and wind-induced vibration effects but less sensitive to the change of bulk density. Also found is that the change of elastic modulus exerts some effects on deflection but has negligible effects on other stability indexes. Furthermore, the transverse unbalanced torque on the bridge generated by wind-induced vibration is an important factor in determining the size of the turntable, indicating that it is not just controlled by the weight of the bridge.

Originality/value

All factors affecting the stability of swivel construction are analyzed, and solutions to reduce the influence are proposed. The influence of wind-induced vibration effects on swivel construction is analyzed for the first time. It is pointed out that wind-induced vibration effects have great influence on the structure, and its influence could not be neglected.

Details

Multidiscipline Modeling in Materials and Structures, vol. 16 no. 5
Type: Research Article
ISSN: 1573-6105

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Article
Publication date: 6 March 2020

Eva Lubloy

The aim of the research was to investigate the effect of concrete strength on the fire resistance of structures. At first, it may seem contradictory that higher concrete…

Abstract

Purpose

The aim of the research was to investigate the effect of concrete strength on the fire resistance of structures. At first, it may seem contradictory that higher concrete strengths can decrease the fire resistance of building structures. However, if the strength of the concrete exceeds a maximum value, the risk of spalling (the detachment of the concrete surface) significantly.

Design/methodology/approach

Prefabricated structural elements are often produced with higher strength. The higher concrete strengths generally do not cause a reduction in the load bearing capacity, but it can have serious consequences in case of structural fire design. Results of two prefabricated elements, namely, one slab (TT shaped panel) and one single layer wall panel, were examined. Results of the specimen with the originally designed composition and a specimen with modified concrete composition were examined, were polymer fibres were added to prevent spalling.

Findings

As a result of the experiments, more strict regulations in the standards the author is suggested including more strict regulations in the standards. It has been proved that to ensure the fire safety of the reinforced concrete structures, it is required after polymer fibres even in lower concrete strength class than prescribed by the standard. In addition, during the classification and evaluation of structures, it is advisable to introduce an upper limit of allowed concrete strength for fire safety reasons.

Originality/value

As a result of the experiments, the author suggests including more strict regulations in the standards. It has been proved that to ensure the fire safety of the reinforced concrete structures, it is necessary to require the addition of polymer fibres even in lower concrete strength class than prescribed by the standard. In addition, during the classification and evaluation of structures, it is advisable to introduce an upper limit of allowed concrete strength for fire safety reasons.

Details

Journal of Structural Fire Engineering, vol. 11 no. 3
Type: Research Article
ISSN: 2040-2317

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Article
Publication date: 7 December 2020

Sudip Patra and Partha Ghose

The current paper is a brief review of the emerging field of quantum-like modelling in game theory. This paper aims to explore several quantum games, which are superior…

Abstract

Purpose

The current paper is a brief review of the emerging field of quantum-like modelling in game theory. This paper aims to explore several quantum games, which are superior compared to their classical counterparts, which means either they give rise to superior Nash equilibria or they make the game fairer. For example, quantum Prisoners Dilemma generates Pareto superior outcomes as compared to defection outcome in the famous classical case. Again, a quantum-like version of cards game can make the game fairer, increasing the chance of winning of players who are disadvantaged in the classical case. This paper explores all the virtues of simple quantum games, also highlighting some findings of the authors as regards Prisoners Dilemma game.

Design/methodology/approach

As this is a general review paper, the authors have not demonstrated any specific mathematical method, rather explored the well-known quantum probability framework, used for designing quantum games. They have a short appendix which explores basic structure of Hilbert space representation of human decision-making.

Findings

Along with the review of the extant literature, the authors have also highlighted some new findings for quantum Prisoners Dilemma game. Specifically, they have shown in the earlier studies (which are referred to here) that a pure quantum entanglement set up is not needed for designing better games, even a weaker condition, which is classical entanglement is sufficient for producing Pareto improved outcomes.

Research limitations/implications

Theoretical research, with findings and implications for future game designs, it has been argued that it is not always needed to have true quantum entanglement for superior Nash Equilibria.

Originality/value

The main purpose here is to raise awareness mainly in the social science community about the possible applications of quantum-like game theory paradigm. The findings related to Prisoners Dilemma game are, however, original.

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Book part
Publication date: 18 December 2016

David J. Cooper and John P. Lightle

We augment a standard bilateral gift-exchange game to allow employees to communicate their gratitude for, or disapproval toward, the wage assigned to them by their…

Abstract

We augment a standard bilateral gift-exchange game to allow employees to communicate their gratitude for, or disapproval toward, the wage assigned to them by their manager. This provides employees with a means of reciprocation or emotion expression toward the employee which is not available in a standard gift-exchange game and may substitute for the higher-than-equilibrium efforts commonly seen in this environment. We find that employees express gratitude or disapproval according to the wage received, but these messages are not a substitute for monetary reciprocation as the relationship between wages and effort is unchanged. These results suggest that employees view the messages as a form of emotional expression independent from rewarding or punishing managers. Average wage levels are little affected by allowing messages, although wages do fall more over time in the absence of messages and individual managers’ wage choices are affected by the messages they receive.

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Experiments in Organizational Economics
Type: Book
ISBN: 978-1-78560-964-0

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Book part
Publication date: 13 October 2015

James C. Cox and Duncan James

This study first replicates, then perturbs, the centipede game as implemented by McKelvey and Palfrey (1992). It is thus both a replication study and an original research…

Abstract

This study first replicates, then perturbs, the centipede game as implemented by McKelvey and Palfrey (1992). It is thus both a replication study and an original research study. We use controlled laboratory experiments, with computer interfaces for each treatment, anonymous round-robin matching among the subjects across rounds, multiple (10) rounds within each treatment, and incremental changes between adjacent treatments allowing for an assessment of effects at the margin of different game configurations. We find unraveling to the subgame perfect equilibrium somewhat faster than did McKelvey and Palfrey (1992), when using their exact design. Perturbations to that design show that setting non-taker payoffs to zero induces earlier unraveling, as does the use of higher stakes (as in Murphy, Rapoport, and Parco (2006), and Rapoport, Stein, Parco, and Nicholas (2003), respectively). Other, subsequent perturbations show: that there is at most a subtle effect associated with using a 10-second timer with a default move, relative to untimed active moves; and that clock format versus tree format has a minimal effect in common information, unchanging payoff-parameterization environments. We verify the robustness of some key past findings in real-time games. We also explore in a common information environment, the effect of design features previously used in independent private values settings; here we find new evidence that features which might modulate information acquisition and/or processing in an independent private values setting may not restrict behavior in a common information setting.

Details

Replication in Experimental Economics
Type: Book
ISBN: 978-1-78560-350-1

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Book part
Publication date: 12 September 2017

Katsuya Hihara

The relationship between airports and airlines is very interesting from an economics perspective, and analysis of this relationship is wide open for new research…

Abstract

The relationship between airports and airlines is very interesting from an economics perspective, and analysis of this relationship is wide open for new research endeavors. For instance, airport and airline interactions can be viewed as a zero-sum game of deciding, say, airport landing charges, while at the same time both entities have an incentive making a joint effort to enhance their ability to generate passenger demand and to contribute to growing regional economies. Within this theoretical framework, their relationship consists of not only a binary choice of conflict or cooperation, but also suggests the possibility of complex mixtures of conflict and cooperation. While understanding the interdependence of airports and airlines is an important issue in transportation economics, research examining the complexity of airport and airline relationships is relatively new to the field. This chapter contributes to this research area, in part, by introducing one very interesting example of an airport and airline relationship that considers an element of conflict and cooperation. Specifically, this chapter examines the economic consequences of a risk sharing contract. Analysis of the risk sharing contract recognizes the relevance of microeconomic theories, such as contract theory and principal–agent theory and reveals how these concepts can be applied to traditional transport economics. Predictions of risk sharing between airlines and airports using these theories are derived using numerical examples. Findings reveal that the risk-sharing agreement based on the Noto Airport Load Factor Guarantee Mechanism (LFGM) contract enables the airport side and the airline side not only to share the monetary consequences of demand fluctuation, but also to secure air flights from a local airport to Tokyo, to jointly enhance their various demand-inducing efforts, and to increase their utilities in order to meet the common target they set in the contract. With the LFGM contract, both sides have consistently maintained the air transport network in a relatively low demand area for more than 10 years without significant outside financial assistance. The findings from this chapter also contribute to better understanding the complex relationships among aviation entities, to the recognition of importance and potential to design properly the airport and airline contract, and to the advancement of economic and public policy analysis of this sector.

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Book part
Publication date: 14 December 2018

Katsuya Hihara and Naoki Makimoto

The relationship between airline and airport is complex, fascinating, and wide open for new research endeavors. In Volume 6 of the series, we conducted the analyses of…

Abstract

The relationship between airline and airport is complex, fascinating, and wide open for new research endeavors. In Volume 6 of the series, we conducted the analyses of risk-sharing contract between airline and airport from numerical risk balance assessment and incomplete contract theory perspectives based on an interesting real example of risk-sharing contracts, the Noto Airport Load Factor Guarantee Mechanism (LFGM) contract in Japan.

In this chapter, we further advance the analyses of risk-sharing contracts, based on the real example of Noto LFGM contract, from the perspectives of game theory and principal-agent theory. The risk-sharing arrangements, such as LFGM contract, are relevant to the rapidly changing business environment in Asia’s aviation industries.

We conduct a two-stage game analysis. The first phase is the contract negotiation phase and the second phase is the effort-making phase after signing the contract. We show that the two parties can attain a Pareto optimal utility level by bargaining a simple linear risk-sharing contract in the contract negotiation phase based on the equilibrium effort levels in the effort-making phase.

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Book part
Publication date: 9 March 2021

Abhijit Bhattacharya

Economic integration is an agreement among countries in a geographical region or unification of economic policies between different states aiming to reduce and ultimately…

Abstract

Economic integration is an agreement among countries in a geographical region or unification of economic policies between different states aiming to reduce and ultimately remove tariff and non-tariff barriers on trade. The fruit of globalization is the tremendous rise of economic integration as globalization loosens barriers among the nations through reduction in cross-border duties and eases trade policies. Trumponomics is defined as the economic policies of US President Donald Trump that prefers high import tariff to bring “America First.” There is a debate among the researchers about the choice between free trade and protection or imposition of tariff. Some of them prefer free trade because during the start of the great depression, the world economy experienced a huge shift toward protectionism. Choice between no-tariff and tariff represents a prisoner’s dilemma situation whereby each player’s best response is to employ tariffs. This results in a sub-optimal outcome for all where the total volume of world trade falls, which is a Nash solution. The present chapter deals with theoretical discussions on trade war and throws light on the developing country’s choice between non-protectionism supported by globalization and Trump’s protectionism.

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

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Article
Publication date: 10 February 2020

Daniel Paul Thanaraj, Anand N. and Prince Arulraj

The purpose of this study is to investigate the effect of standard fire on the strength and microstructure properties of concrete with different strength grades.

Abstract

Purpose

The purpose of this study is to investigate the effect of standard fire on the strength and microstructure properties of concrete with different strength grades.

Design/methodology/approach

Different strength grades of concrete used for the investigation are M20, M30, M40 and M50. An electrical bogie hearth furnace was developed to simulate the International Standards Organization 834 standard fire curve.Concrete samples were subjected to high temperatures of 925, 1,029, 1,090 and 1,133°C for the duration of 1, 2, 3 and 4 h, respectively, as per standard fire curve. Compressive strength, tensile strength, thermal crack pattern and spalling of heated concrete specimens were evaluated by experimental investigation. Scanning electron microscopy and thermo-gravimetric analysis were performed to investigate the microstructure properties of heated concrete specimens.

Findings

Test results indicated reduction in the strength and changes in the microstructure properties of concrete exposed to elevated temperature. The degree of weight and the strength loss were found to be higher for concrete with higher grades. An empirical relation is proposed to determine the residual strength of concrete with different strength grade using regression analysis.

Social implications

Results of this research will be useful for the design engineers to understand the behavior of concrete exposed to elevated temperature as per standard fire.

Originality/value

When concrete is exposed to elevated temperature, its internal microstructure changes, thereby strength and durability of concrete deteriorates. The performance of concrete with different strength grade exposed to standard fire is well understood. This research’s findings will be useful for the designers to understand more about fire resistance of concrete. A simple relationship is proposed to determine the residual strength of concrete exposed to various durations of heating.

Details

Journal of Structural Fire Engineering, vol. 11 no. 3
Type: Research Article
ISSN: 2040-2317

Keywords

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