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The purpose of this paper is to propose an economic cybernetics model based on the grey differential equation GM(1,N) for China's high-tech industries and provide the necessary support to assist high-tech industries management departments with their policy making.

Based on the principle of grey differential equation GM(1,N), the grey differential equations of five high-tech industries in China are established using the net fixed assets, labor quantity and patent application quantity as cybernetics variables. After the discretization and first-order subtraction reduction to the simultaneous equation of the five grey models, a linear cybernetics model is resulted in. The structure parameters in the cybernetics system show explicit economic significance and can be identified through least square principle. At last, the actual data in 2004-2010 are introduced to empirically analyze the high-tech industrial system in China.

The cybernetics system for China's high-tech industries are stable, observable, and controllable. On the whole, China's high-tech industries show higher output coefficients of the patent application quantity than those of net fixed assets and labor quantity. This suggests that China's industry development mainly depends on technological innovation rather than capital or labor inputs. It is expected that the total output value of China's high-tech industries will grow at an average annual rate of 15 percent in 2011-2015, with contributions of pharmaceuticals, aircraft and spacecraft, electronic and telecommunication equipments, computers and office equipments, medical equipments and meters by 21, 16, 13, 10, and 28 percent, respectively. In addition, pharmaceuticals, as well as medical equipments and meters, present upward proportions in the gross of Chinese high-tech industries significantly. Electronic and telecommunication equipments, plus computers and office equipments exhibit an obvious decreasing proportion. The proportion of the output value of aircraft and spacecraft is basically stable.

Empirical analysis results are helpful for related management departments to formulate reasonable industrial policies to keep the sustained and stable development of the high-tech industries in China.

Based on the grey differential equation GM(1,N), this research puts forward an economic cybernetics model for the high-tech industries in China. This model is applicable to the economic system with small sample data set.

The purpose of this paper is to study how to effectively allocate water, energy and food (WEF) resources in urban development.

An agent-based model combined with NetLogo simulation model has been used in this paper.

This paper proposes a framework for agent analysis in urban WEF consumption.

Further discussions using empirical data are of great importance.

Apply to form the development model of the city in the future.

A new method of WEF management has been used at the city level.

This study investigates the interrelationships between competitions in different banking markets and shadow banking for the Chinese banking industry over the period 2003–2017. The current study also examines the determinants of competition in different banking markets and the factors influencing the size of shadow banking.

Bank competition is measured by the Boone indicator, while the relationship between bank competition and shadow banking is examined through a three-stage least square estimator.

The findings suggest that a larger volume of shadow banking leads to a decline in the level of competition in the deposit market, loan market and noninterest income market, while an increase in the level of competition in the loan market, deposit market and noninterest income market leads to an expansion of shadow banking. The authors find that higher bank risk and higher developed of stock market reduce the competitive condition in the loan market, and the competition in the deposit market will be enhanced by higher levels of banking sector development and higher levels of inflation, but bank diversification will reduce the level of competition in the deposit market. The authors further find that higher bank profitability and higher stock market development reduce bank competition in the noninterest income market. Finally, the results show that larger bank size and higher development of stock market reduce the size of shadow banking in China, but higher economic growth increases the size of shadow banking.

This is the first piece of research investigating the relationship between bank competition and shadow banking. This will also be the first piece of research examining the determinants of competition in different banking markets and also the factors influencing the size of shadowing banking in China.

The most recent and prestigious scientific research shows that nitrogen leaching caused by over-used nitrogen fertilizer rapidly acidifies all soil types in China, revolutionizing the basic understanding of the mechanism of soil acidification. The purpose of this paper is to study the impact of nitrogen on soil acidity over the long run, which is the shadow price of nitrogen.

In a discrete dynamic programming model, this paper compares the nitrogen application and soil pH between optimal nitrogen control that takes the shadow price of nitrogen into consideration and myopic nitrogen control that ignores that shadow price. Using a five-year panel experimental data on a rapeseed-rice rotation, this paper simulates and numerically solves the dynamic model.

Both theoretically and empirically, this paper shows that the over-use of nitrogen and the decline in soil pH are explained by ignorance of the shadow price of nitrogen. Compared with optimal nitrogen control, myopic nitrogen control applies more nitrogen in total, resulting in lower soil pH. In addition, over-use in the first season contributes to soil acidification and the carry-over effects mitigate that problem.

This paper enriches the literature by extending the study of the environmental impact of nitrogen leaching to its impact on the long-term loss in agricultural production, providing a new theoretical framework in which to study soil acidification rather than conventionally treating soil acidification as a secondary consequence of acid rain, and showing the possibility of using nitrogen control to mitigate soil acidification when lime applications are not feasible due to socio-economic constraints.

The purpose of this paper is to develop a simple microeconomic model of the firm to give theoretical foundations for the balanced scorecard concept (BSC).

The model consists of demand, production, and objective functions integrated into a resource allocation model. Costs, sales volume, and sales revenue grow at constant rates. Strategy is depicted by a weighted objective function of profit and net sales. Output variables are classified according to the four perspectives of BSC.

The effects of the parameters, especially growth and strategy, on the importance of the perspectives and on performance measures, are shown.

Many results are based on assumptions of a constant growth; and of constant demand and production functions. Empirical research is welcome to give evidence on demand and production elasticities, the shifts of strategy, their effects on performance measurement; and tension between profit and revenue maximization.

BSC should be elastic to respond to shifts of strategy towards revenue maximization. When a shift is happened, the focus in BSC should be transferred towards customer relationship management and development and learning; and the time‐series of performance measures should be interpreted cautiously. Even for a constant strategy, the time‐series of non‐financial and financial measures may give a contradicting signal.

This research paper introduces a new growth model of the firm useful in the theoretical analysis of BSC. It can be applied to assess the importance of the four perspectives of BSC, trade‐offs between them, and relationships between non‐financial and financial measures.

The purpose of this paper is to investigate conditions under which voters’ comparison of relative performance between adjacent jurisdictions can help reduce rent‐seeking by politicians.

A theoretical model was developed to examine the effectiveness of yardstick competition in restraining political corruption, first under a static setting, and then under a dynamic setting, using optimal control theory and differential games. It is assumed that voters compare the performance of their incumbent government with that of a neighboring jurisdiction. The incumbent can provide a public good and extract rent, which are financed by imposing a distortionary tax on the population. Politicians derive utility from rent as well as from popularity. The stock of reputation builds up or decays over time. Reputation is decreasing in rent appropriation.

Without assigning an ex ante type on the politician, the paper demonstrates the possibility that yardstick competition itself fails to restrict rent seeking. When the model is extended to a dynamic setting, it is shown that under unitary performance evaluation, dynamic incentives restrain the politician only if the shadow value of reputation (that measures current and future marginal benefits of increased reputation) is sufficiently high throughout the term. it is shown that, for such a high shadow value to exist, benefits of both instantaneous and end‐of‐period reputations have to be high enough. On the other hand, under relative performance evaluation, dynamic incentives impose more restrictions on rent appropriation in comparison to the static case.

This paper offers the first formal analysis, using differential games, of the role of the interaction between electoral considerations and neighborhood demonstration effects (with respect to relative rent extraction) in determining a politician's optimal rent‐seeking behaviour.

The purpose of this paper is to model the tradeoffs among fatalities, CO₂ emissions and value generated by the truck transportation portion of supply chains with the goal of determining if efforts to reduce CO₂ emissions increase transportation‐related fatalities.

The joint production of CO₂, fatalities, and truck transport value in the 50 US states during 2002‐2007 is modeled using data envelopment analysis. The directional output distance function is estimated under two assumptions: strong and weak disposability of CO₂ emissions. This provides the means of calculating shadow prices that estimate the cost of reducing CO₂ emissions.

The authors' findings indicate that the transfer of resources to the reduction of CO₂ emissions will result in a statistically significant increase in fatalities and a statistically significant decrease in value of transport from truck transport.

The model presented is based on secondary data from the Federal Highway Statistics Series, the Fatality Analysis Reporting System, and the Bureau of Economic Analysis.

The model developed demonstrates tradeoffs among sustainability‐related variables.

The model presented in the paper uses shadow prices to assess sustainability‐related tradeoffs in supply chains. While this method has been used in other fields, this is its first use in supply chain studies.

The purpose of this paper is to analyze the relationship between macroeconomic fundamentals, intuitional quality and shadow economy.

By utilizing data setspanning from 2004 to 2015 of 141 countries, the study has employed advanced panel technique, i.e. Generalized Method of Moments (GMM) method. In order to check consistency of the results, the study also used fixed effect and random effect for robustness.

The study finds that for the full sample, institutional quality has negative effect on shadow economy while macroeconomic fundaments effect shadow economy differently. After splitting the sample into Organization of Islamic Cooperation (OIC) and non-OIC countries subsamples, it observes same influence of macroeconomic fundaments and institutional quality on shadow economy, but the effect of macroeconomic fundaments and institutional quality on shadow economy is less observed for OIC countries. The results are found consistence by using different estimation methods.

The current literature has focused on estimating the size of shadow economy and literature linking the macroeconomic fundaments, institutional quality and shadow economy is scarce. Additionally, this study provides the evidence for cross comparison between OIC economies and non-OIC economies.

In light of the global concern about the impact of trade liberalization on environment, this paper intends to measure, theoretically as well as empirically, the impact of freer rice trade on environmental quality in terms of chemical intensity, measured by a decreasing scale indicator.

A dynamic land allocation model is designed that incorporates rational expectations on rice price and soil degradation due to long‐term cultivation on the same piece of land. Both demands for land and pesticides are derived and empirically estimated using time‐series data in Taiwan.

The results reveal that chemical intensity may increase with freer trade. The effect of freer trade on chemical intensity was less significant in earlier days such as the 1980s than in recent years. The basic model explains, to some extent, why some country representative conveyed their concerns in the Committee of Trade and Environment under WTO about the environmental degradation due to freer trade in agriculture. It also implies that more investment on environmental protection is warranted in the course of trade liberalization.

Given the dramatic inflation of energy prices, more elaboration on the price specification with respect to pesticides may be warranted for future researches.

The paper develops a rational expectations model to measure the impact of rice trade liberalization on environmental quality.

Intends to address a fundamental problem in maintenance engineering: how should the shutdown of a production system be scheduled? In this regard, intends to investigate a way to predict the next system failure time based on the system historical performances.

GM(1,1) model from the grey system theory and the fuzzy set statistics methodologies are used.

It was found out that the system next unexpected failure time can be predicted by grey system theory model as well as fuzzy set statistics methodology. Particularly, the grey modelling is more direct and less complicated in mathematical treatments.

Many maintenance models have developed but most of them are seeking optimality from the viewpoint of probabilistic theory. A new filtering theory based on grey system theory is introduced so that any actual system functioning (failure) time can be effectively partitioned into system characteristic functioning times and repair improvement (damage) times.

In today's highly competitive business world, the effectively address the production system's next failure time can guarantee the quality of the product and safely secure the delivery of product in schedule under contract. The grey filters have effectively addressed the next system failure time which is a function of chronological time of the production system, the system behaviour of near future is clearly shown so that management could utilize this state information for production and maintenance planning.

Provides a viewpoint on system failure‐repair predictions.