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This chapter presents the survey of selected linear and mixed integer programming multi-objective portfolio optimization. The definitions of selected percentile risk measures are presented. Some contrasts and similarities of the different types of portfolio formulations are drawn out. The survey of multi-criteria methods devoted to portfolio optimization such as weighting approach, lexicographic approach, and reference point method is also presented. This survey presents the nature of the multi-objective portfolio problems focuses on a compromise between the construction of objectives, constraints, and decision variables in a portfolio and the problem complexity of the implemented mathematical models. There is always a trade-off between computational time and the size of an input data, as well as the type of mathematical programming formulation with linear and/or mixed integer variables.

Studies are made on food three‐layer packages, where a contaminated recycled polymer layer is located between two virgin polymer layers. As the thick food packages are made by pressing the polymer layers in a mould kept at around the melting temperature of the polymer, the process is thus rather complex with heat transfer and contaminant transfer. Heat transfer is controlled by conduction through the package with a high coefficient of heat transfer in the mould, and conduction through the package and free convection at the surface during the cooling period in motionless air. The contaminant transfer is controlled by diffusion through the polymer with a temperature‐dependent diffusivity. A numerical model taking into account both the heat and mass transfer is built in order to resolve the problem. Various parameters appear of interest, such as the conditions of the processing with the temperature of the mould and time in the mould, the thicknesses of the polymer layers. Two types of sandwich are considered with different thicknesses for each layer. The profiles of concentration of the contaminant are obtained through the polymer packages.

The purpose of this paper is to research a multi-zone rubber vulcanization process heated by induction.

The design is an abstract setup model with two zones, where the homogene rubber compound is heated with different regimes. Simulation is completely done in ANSYS Mechanical by the finite element method solution. The research is made mostly simulative.

The results show that it is possible to obtain a factor-three vulcanization level difference in a core of a 20-mm rubber plate in a distance of less than 60 mm, while the heating is done from the side of the surface.

The originality is the combination of rubber vulcanization with a dynamic heat source in a form of electromagnetic induction applied on the mold form. This allows a high level of control of the vulcanization process of the rubber compound.

The purpose of this paper is to review recent contributions to the theoretical and empirical literature on informational cascades.

This paper reviews and synthesises the existing literature, methodologies and evidence on informational cascades.

Many financial settings foster situations where informational cascades and herding are likely. Cascades remain mainly an area of experimental research, leaving the empirical evidence inconclusive. Existing measures have limitations that do not allow for a direct test of cascading behaviour. More accurate models and methods for empirical testing of informational cascades could provide more conclusive evidence on the matter.

Outlined findings have implications for designing policies and regulatory requirements, as well as for the design of collective decisions processes.

The paper reviews and critiques existing theory; it summarises the recent laboratory and empirical evidence and identifies issues for future research. Most of other theoretical work reviews informational cascades as a subsection of herding. This paper focusses on informational cascades specifically. It distinguishes between informational cascade and herding. The paper also reviews most recent empirical evidence on cascades, presents review and synthesis of the theoretical and empirical development on information cascades up to date, and reviews the model of informational cascades with model criticism.

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.

Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.

This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.

The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.

The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.

To study the properties of three dimensional printing (3DP) materials systems which were directly in contact with water or exposure to humidity in order to help in deciding the appropriate system for moisture resistance applications.

Two commercially available 3DP materials namely ZP 100 and ZP 15E were infiltrated with three commonly used infiltrants. All samples were subjected to three storage conditions including dry, room (55 percent RH) and wet (100 percent RH) for 168 h. Then they were characterized to compare the influence of storage conditions on properties such as dimensional change, moisture absorption and flexural properties including modulus, strength and strain at break.

Amongst six material systems investigated in this study, it was observed that the combination of ZP 15E with acrylate infiltrant showed the greatest flexural properties in room and wet conditions. All infiltrated ZP 100 samples were not likely to be as suitable for using in moisture resistance environment as infiltrated ZP 15E samples especially when they were in direct contact with water. Using low moisture absorption infiltrant and 3DP materials that can absorb high amount of infiltration are needed to produce low moisture absorption system.

The moisture absorption experiment was done at 168 h. The values obtained from the report for some testing conditions, i.e. room environment may not be able to extend to long‐term performance.

The results presented here can be used as a guideline for 3DP materials selection for moisture resistance applications.

This study demonstrated the governed factors that were needed to consider for using 3DP models in moisture resistance applications.

This article aims to ascertain the extent to which probabilistic decision making can enable managers to make crucial decisions in a world of uncertainty associated with globalization. Existing evidence suggests that probabilistic decision making can be deployed for risk management purposes if two conditions are satisfied: the decision maker must be aware of a complete list of possible future events; and the decision maker must be able to revise his/her expectations in the light of new information about such events. This article demonstrates that the satisfaction of these conditions requires a sound understanding of the sources of risks, quantifying those risks, and assessing the probability associated with each. To ensure that these conditions are satisfied, a risk management strategy must aim to maximize the amount of information that will be available at the time of taking the decision rather than wait to learn from outcomes. Outcomes‐based justification of decisions may no longer be an effective decision‐making strategy because the stakes involved, i.e. the risks and opportunities associated with globalization, are too high. An information‐driven, proactive decision‐making strategy requires higher levels of information pooling and exchange within companies.

Managing components' resources plays a critical role in the success of systems' architectures designed for cyber–physical systems (CPS). Performing the selection of candidate components to pursue a specific application's needs also involves identifying the relationships among architectural components, the network and the physical process, as the system characteristics and properties are related.

Using a Model-Driven Engineering (MDE) approach is a valuable asset therefore. Within this context, the authors present the so-called Systems Architecture Ontology (SAO), which allows the representation of a system architecture (SA), as well as the relationships, characteristics and properties of a CPS application.

SAO uses a common vocabulary inspired by the Architecture Analysis and Design Language (AADL) standard. To demonstrate SAO's applicability, this paper presents its use as an MDE approach combined with ontology-based modeling through the Ontology Web Language (OWL). From OWL models based on SAO, the authors propose a model transformation tool to extract data related to architectural modeling in AADL code, allowing the creation of a components' library and a property set model. Besides saving design time by automatically generating many lines of code, such code is less error-prone, that is, without inconsistencies.

To illustrate the proposal, the authors present a case study in the aerospace domain with the application of SAO and its transformation tool. As result, a library containing 74 components and a related set of properties are automatically generated to support architectural design and evaluation.

The purpose of this paper is to discuss a widespread idea in the financial literature: information in financial markets is free. Indeed, whenever an investor wants to intervene to purchase and/or to sell, he/she faces the need to access the information, which he/she judges to ensure an optimal decision.

The paper uses the entropy statistics in order to estimate the information cost of the assets of the Tunisian stock market over the period extending from 2002 to 2005.

The obtained results show that the information costs follow a Brownian motion. This finding lends empirical support to the theoretical position that has always been adopted in the relevant literature: in finance, as in economy, the majority of the series follow a Brownian motion.

The proposed methodology offers investors the opportunity to estimate the information cost by taking into account the quotation probability, a simple approach that can be used not only by fund managers, but also by financial market investors.

The paper uses entropy as a relatively new tool applied in financial theory. It offers a new understanding of information cost. The paper will be of interest for financial market investors and academics.

This chapter addresses the issue of value creation in the retail banking sector, focusing on France. The author shows that since the 2007 financial crisis, banking organizations have used a disruptive innovative approach to regain the trust of retail banking customers. This innovative hybrid design is not only driven by efficiency and fully dematerialized solutions, but also considers human, social, and territorial development aspects.

This chapter is based on an EU statistical analysis (2009–2013) of two strategies used by French, Italian, and German national banks to manage the 2007 financial crisis: closing retail bank branches and lay-offs. Interestingly, in France, bank units and employee numbers fell the least. A complementary qualitative analysis of the principal banking innovations promoted by R&D directors helps to explain the main features of the French strategy to cope with the mistrust of clients and employees.

Though low-cost models are promoted as major innovations today (“banking is necessary, bankers are not”), and result in massive offshoring and restructuring levels to face new global competitors such as Google, Amazon, and PCCW-HKT, the French retail banking sector, previously state regulated but progressively deregulated, has adopted an original strategy to regain trust and loyalty. Rather than adopting these low-cost models strictly, with full dematerialization, it focuses on balanced innovation – such as the “neighbourhood bank format,” which improves knowledge of the expectations and needs of local clients and environments. These solutions are not only global or local, but a mix of both dimensions.

Global industries like finance are embedded in both territorial and historical relationships and governance. This means that they can only be observed from this dual perspective, which is a dilemma that characterizes today’s economy. Innovation decisions and design particularly illustrate the banking sector’s embeddedness, with the dichotomy between fully digitalized options and fully territorialized services. Therefore, innovation is neither a “Champion” or leadership question, nor a mere ICT option. It is a hybrid combination to restore trust and relations.

The implications of such a balanced approach to innovation are highly important in terms of offshoring, lay-offs, and outsourcing practices, which are adopted as essential, and taken for granted by owners and CEOs in global value chains such as finance.The given data and analysis give concrete means to integrate local cultural and institutional habits, so that innovation make sense to stakeholders.

This chapter suggests a critical approach to innovation strategies and trends in the finance sector.