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Article
Publication date: 6 February 2017

Jeffrey Yi-Lin Forrest, John Buttermore and Theresa A. Wajda

This paper aims to investigate the dynamics of a coordinate monopoly with established, risk-neutral firms; how these firms compete by adjusting prices; and when new…

Abstract

Purpose

This paper aims to investigate the dynamics of a coordinate monopoly with established, risk-neutral firms; how these firms compete by adjusting prices; and when new competition(s) might enter the market with expectations of making more profits than any of the incumbents.

Design/methodology/approach

All results are established on the intuition of systems research and the concept of Nash equilibria of game theory.

Findings

Established results include how in a developed marketplace, risk neutrality would lead to stagnation in profits and irrational decision on pricing, and a sufficient and necessary condition under which new competition(s) would enter, although the market is coordinately monopolized.

Research limitations/implications

Conclusions presented are initial results in the direction of research. More real-life-like, asymmetrical conditions need to be considered to see what variations of similar results could hold true.

Practical implications

Presented are an operational aspect on how to compete although the consequent level of profits might not change much or any at all and how some of the key issues on market entry timing are theoretically resolved.

Social implications

This work indicates that for the minimum objective of business survival, existing firms, no matter how established, have to without any choice participate in market competition and look for new market opportunities.

Originality/value

Other than the established thought-provoking results, this work is the first of its kind. It organically combines recent achievements of systems research with game theory to explore issues of marketing, market entry timing and the dynamics of business firms’ behaviors.

Details

Kybernetes, vol. 46 no. 2
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 26 May 2020

Changhai Lin, Zhengyu Song, Sifeng Liu, Yingjie Yang and Jeffrey Forrest

The purpose of this paper is to analyze the mechanism and filter efficacy of accumulation generation operator (AGO)/inverse accumulation generation operator (IAGO) in the…

Abstract

Purpose

The purpose of this paper is to analyze the mechanism and filter efficacy of accumulation generation operator (AGO)/inverse accumulation generation operator (IAGO) in the frequency domain.

Design/methodology/approach

The AGO/IAGO in time domain will be transferred to the frequency domain by the Fourier transform. Based on the consistency of the mathematical expressions of the AGO/IAGO in the gray system and the digital filter in digital signal processing, the equivalent filter model of the AGO/IAGO is established. The unique methods in digital signal processing systems “spectrum analysis” of AGO/IAGO are carried out in the frequency domain.

Findings

Through the theoretical study and practical example, benefit of spectrum analysis is explained, and the mechanism and filter efficacy of AGO/IAGO are quantitatively analyzed. The study indicated that the AGO is particularly suitable to act on the system's behavior time series in which the long period parts is the main factor. The acted sequence has good effect of noise immunity.

Practical implications

The AGO/IAGO has a wonderful effect on the processing of some statistical data, e.g. most of the statistical data related to economic growth, crop production, climate and atmospheric changes are mainly affected by long period factors (i.e. low-frequency data), and most of the disturbances are short-period factors (high-frequency data). After processing by the 1-AGO, its high frequency content is suppressed, and its low frequency content is amplified. In terms of information theory, this two-way effect improves the signal-to-noise ratio greatly and reduces the proportion of noise/interference in the new sequence. Based on 1-AGO acting, the information mining and extrapolation prediction will have a good effect.

Originality/value

The authors find that 1-AGO has a wonderful effect on the processing of data sequence. When the 1-AGO acts on a data sequence X, its low-pass filtering effect will benefit the information fluctuations removing and high-frequency noise/interference reduction, so the data shows a clear exponential change trends. However, it is not suitable for excessive use because its equivalent filter has poles at the non-periodic content. But, because of pol effect at zero frequency, the 1-AGO will greatly amplify the low-frequency information parts and suppress the high-frequency parts in the information at the same time.

Details

Grey Systems: Theory and Application, vol. 11 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 14 September 2020

Qiang Bu and Jeffrey Forrest

The purpose of this study is to investigate whether the direct and indirect sentiment measures are similar in explaining mutual fund performance.

Abstract

Purpose

The purpose of this study is to investigate whether the direct and indirect sentiment measures are similar in explaining mutual fund performance.

Design/methodology/approach

The authors examine the role of direct and indirect sentiment measures on fund performance in two scenarios. One is when a sentiment measure is added to market models, and the other is when it used independently. Also, the authors propose a system science theory to explain the findings.

Findings

The authors find that both direct and indirect sentiment measures are integral to the benchmark models to explain fund performance. However, while the explanatory power of the direct sentiment index is robust when used independently or collectively, the indirect sentiment measures can explain fund performance only when used along with other market factors.

Originality/value

Given the number of sentiment measures, it is critical to determine whether these measures contain the same information of sentiment. This paper represents the first study on this topic.

Details

International Journal of Managerial Finance, vol. 17 no. 3
Type: Research Article
ISSN: 1743-9132

Keywords

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Article
Publication date: 16 July 2019

Yong Liu, Jun-liang Du, Ren-Shi Zhang and Jeffrey Yi-Lin Forrest

This paper aims to establish a novel three-way decisions-based grey incidence analysis clustering approach and exploit it to extract information and rules implied in panel data.

Abstract

Purpose

This paper aims to establish a novel three-way decisions-based grey incidence analysis clustering approach and exploit it to extract information and rules implied in panel data.

Design/methodology/approach

Because of taking on the spatiotemporal characteristics, panel data can well-describe and depict the systematic and dynamic of the decision objects. However, it is difficult for traditional panel data analysis methods to efficiently extract information and rules implied in panel data. To effectively deal with panel data clustering problem, according to the spatiotemporal characteristics of panel data, from the three dimensions of absolute amount level, increasing amount level and volatility level, the authors define the conception of the comprehensive distance between decision objects, and then construct a novel grey incidence analysis clustering approach for panel data and study its computing mechanism of threshold value by exploiting the thought and method of three-way decisions; finally, the authors take a case of the clustering problems on the regional high-tech industrialization in China to illustrate the validity and rationality of the proposed model.

Findings

The results show that the proposed model can objectively determine the threshold value of clustering and achieve the extraction of information and rules inherent in the data panel.

Practical implications

The novel model proposed in the paper can well-describe and resolve panel data clustering problem and efficiently extract information and rules implied in panel data.

Originality/value

The proposed model can deal with panel data clustering problem and realize the extraction of information and rules inherent in the data panel.

Details

Kybernetes, vol. 48 no. 9
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 18 September 2019

Davood Darvishi, Jeffrey Forrest and Sifeng Liu

Ranking and comparing grey numbers represent a very important decision-making procedure in any given grey environment. The purpose of this paper is to study the existing…

Abstract

Purpose

Ranking and comparing grey numbers represent a very important decision-making procedure in any given grey environment. The purpose of this paper is to study the existing approaches of ordering interval grey numbers in the context of decision making by surveying existing definitions.

Design/methodology/approach

Different methods developed for comparing grey numbers are presented along with their disadvantages and advantages in terms of comparison outcomes. Practical examples are employed to show the importance and necessity of using appropriate methods to compare grey numbers.

Findings

Most the available methods are not suitable for pointing out which number is larger when the nuclei of the grey numbers of concern are the same. Also, these available methods are also considered in terms of partial order and total order. Kernel and degree of greyness of grey numbers method is more advantageous than other methods and almost eliminates the shortcomings of other methods.

Originality/value

Different methods for ranking grey numbers are presented where each of them has disadvantages and advantages. By using different methods, grey interval numbers are compared and the results show that some methods cannot make grey number comparisons in some situations. The authors intend to find a method that can compare grey numbers in any situation. The findings of this research can prevent errors that may occur based on inaccurate comparisons of grey numbers in decision making. There are various research studies on the comparison of grey numbers, but there is no research on the comparison of these methods and their disadvantages, advantages or their total or partial order.

Details

Grey Systems: Theory and Application, vol. 9 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 6 September 2019

Oğuzhan Ahmet Arık, Erkan Köse and Jeffrey Forrest

The purpose of this paper is to present a mixed integer programming model for simple assembly line balancing problems (SALBP) with Type 1 when the annual demand and task…

Abstract

Purpose

The purpose of this paper is to present a mixed integer programming model for simple assembly line balancing problems (SALBP) with Type 1 when the annual demand and task durations are uncertain and encoded with grey numbers.

Design/methodology/approach

Grey theory and grey numbers are used for illustrating the uncertainty of parameters in an SALBP, where the objective is to minimize the total number of workstations. The paper proposes a 0-1 mathematical model for SALBP of Type 1 with grey demand and grey task durations.

Findings

The uncertainty of the demand and task durations are encoded with grey numbers and a well-known 0-1 mathematical model for SALBP of Type 1 is modified to find the minimum number of workstations in order to meet both the lower and upper bounds of the uncertain demand. The results obtained from the proposed mathematical model show a task-workstation assignment that does not distribute precedence relations among tasks and workstations and the sum of task durations in each single workstation is less than or equal to the grey cycle time.

Originality/value

The grey theory and grey numbers have not been previously used to identify uncertainties in assembly line balancing problems. Therefore, this study provides an important contribution to the literature.

Details

Grey Systems: Theory and Application, vol. 9 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 11 June 2021

Canchu Lin, Anand Kunnathur and Jeffrey Forrest

The purpose of this study is to examine big data capability's impact on product improvement and explore supply chain dynamics including relationship building and knowledge…

Abstract

Purpose

The purpose of this study is to examine big data capability's impact on product improvement and explore supply chain dynamics including relationship building and knowledge sharing as important contribution to big data capability.

Design/methodology/approach

The research model is tested with survey data. Data analysis results empirically support the proposed model and the hypothesized relationships between the concepts.

Findings

First, the hypothesis testing results of this study show that big data capability directly enhances product improvement. Second, this study shows that supply chain relationship building and knowledge sharing are positively related to the development of big data capability.

Research limitations/implications

In supply chain management, there are multiple factors, besides relationship building, that serve as conditioners to knowledge sharing's effect on product performance. We only examined the role of relationship building in this area.

Practical implications

Findings from this research encourage firms to take advantage of their supply chain resources to develop a big data capability that positively contributes to firm performance.

Originality/value

The contribution lies in that it brings to light this step that connects big data capabilities and market and financial performance, which is missing in prior research. This study contributes to the literature by identifying supply chain management activities, more specifically, supply chain relationship building and knowledge sharing, as antecedents to big data capability. This helps to extend this emergent enterprise of big data research to a new area and points to new directions for future research.

Details

American Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1935-5181

Keywords

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Article
Publication date: 17 June 2020

Davood Darvishi, Sifeng Liu and Jeffrey Yi-Lin Forrest

The purpose of this paper is to survey and express the advantages and disadvantages of the existing approaches for solving grey linear programming in decision-making problems.

Abstract

Purpose

The purpose of this paper is to survey and express the advantages and disadvantages of the existing approaches for solving grey linear programming in decision-making problems.

Design/methodology/approach

After presenting the concepts of grey systems and grey numbers, this paper surveys existing approaches for solving grey linear programming problems and applications. Also, methods and approaches for solving grey linear programming are classified, and its advantages and disadvantages are expressed.

Findings

The progress of grey programming has been expressed from past to present. The main methods for solving the grey linear programming problem can be categorized as Best-Worst model, Confidence degree, Whitening parameters, Prediction model, Positioned solution, Genetic algorithm, Covered solution, Multi-objective, Simplex and dual theory methods. This survey investigates the developments of various solving grey programming methods and its applications.

Originality/value

Different methods for solving grey linear programming problems are presented, where each of them has disadvantages and advantages in providing results of grey linear programming problems. This study attempted to review papers published during 35 years (1985–2020) about grey linear programming solving and applications. The review also helps clarify the important advantages, disadvantages and distinctions between different approaches and algorithms such as weakness of solving linear programming with grey numbers in constraints, inappropriate results with the lower bound is greater than upper bound, out of feasible region solutions and so on.

Details

Grey Systems: Theory and Application, vol. 11 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 7 November 2016

Sifeng Liu, Handan Rui, Zhigeng Fang, Yingjie Yang and Jeffrey Forrest

The purpose of this paper is to present the terms of grey numbers and its operations.

Abstract

Purpose

The purpose of this paper is to present the terms of grey numbers and its operations.

Design/methodology/approach

The definitions of elementary terms about grey numbers and its operations are presented one by one.

Findings

The reader could know the basic explanation about the important terms about grey numbers and its operations from this paper.

Practical implications

Many of the colleagues thought that unified definitions of key terms would be beneficial for both the readers and the authors.

Originality/value

It is a fundamental work to standardise all the definitions of terms for a new discipline. It is also propitious to spread the universal principles of grey system theory.

Details

Grey Systems: Theory and Application, vol. 6 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 7 November 2016

Sifeng Liu, Naiming Xie, Yingjie Yang and Jeffrey Forrest

The purpose of this paper is to present the terms of sequence operators and grey data mining.

Abstract

Purpose

The purpose of this paper is to present the terms of sequence operators and grey data mining.

Design/methodology/approach

The definitions of basic terms about sequence operators and grey data mining are presented one by one.

Findings

The reader could know the basic explanation about the important terms about sequence operators and grey data mining from this paper.

Practical implications

Many of the colleagues thought that unified definitions of key terms would be beneficial for both the readers and the authors.

Originality/value

It is a fundamental work to standardize all the definitions of terms for a new discipline. It is also propitious to spread the universal principles of grey system theory.

Details

Grey Systems: Theory and Application, vol. 6 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

1 – 10 of 164