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This chapter explores a descriptive theory of multidimensional travel behaviour, estimation of quantitative models, and demonstration in an agent-based microsimulation.

A descriptive theory on multidimensional travel behaviour is conceptualised. It theorizes multidimensional knowledge updating, search start/stopping criteria, and search/decision heuristics. These components are formulated or empirically modelled and integrated in a unified and coherent approach.

The theory is supported by empirical observations and the derived quantitative models are tested by an agent-based simulation on a demonstration network.

Based on artificially intelligent agents, learning and search theory, and bounded rationality, this chapter makes an effort to embed a sound theoretical foundation for the computational process approach and agent-based microsimulations. A pertinent new theory is proposed with experimental observations and estimations to demonstrate agents with systematic deviations from the rationality paradigm. Procedural and multidimensional decision-making are modelled. The numerical experiment highlights the capabilities of the proposed theory in estimating rich behavioural dynamics.

The purpose of this paper is to investigate the implications of the China’s rising meat demand and industrialization of the livestock sector for the vegetable oil market.

An equilibrium displacement model is constructed to analyze the interactions between meat consumption and vegetable oil market through the development of livestock sector modernization. Parameters derived from the 2006 to 2009 data are first used to produce the counterfactual growth rate of the non-soybean vegetable oil to validate the model. Then the authors use the second set of parameters derived from the 2010 to 2013 data to forecast the changes in the vegetable oil market in China.

Soybean oil, as a co-product of soybean processing, tends to crowd out other vegetable oils. In particular, the authors find that the market for non-soybean vegetable oils may shrink as long as the rapid industrialization pace above 10 percent within China’s livestock sector continues. Although their production takes up only 8.5 percent of all agricultural lands in China, oil crops remain as important cash crops for farmers contributing over 10 percent to the overall farm income in some provinces. The authors’ analysis suggests that stakeholders in these regions should closely monitor the structural changes within the livestock sector and consider the information for crop selection.

The authors’ analysis contributes to the literature on China’s meat demand by highlighting its implications for other agricultural markets involved in the food system.

In consideration that the purpose of talent management is to attract and nurture productive employees for the benefit of the hospitality organization, this study aims to examine why employees respond in such favorable ways. Recognizing beneficial employee behavior advances a hospitality organization through their ability to deliver an experience that aligns with the promoted brand promise, inspiration is drawn from both the strategic human resource management as well as the internal brand management literature. The power of this approach is illustrated through a survey of employees of a Latin American restaurant chain with a long-standing policy of values-based recruiting, inclusive talent management and progressive people management practices.

Informed by literature, employee perception of their relationship with the organization (i.e., relationship orientation) and alignment with the brand’s values (i.e., brand fit) were considered drivers of favorable employee attitudes and behavior as a result of hospitality talent management practices. These were hypothesized to positively influence employee confidence and motivation as reflected in organization-based self-esteem (OBSE) and brand motivation, which in turn drive employee brand-aligned behavior. A survey measured the variables of interest with the same employees over two time periods, matched using employees’ identification code, resulting in 199 complete surveys. The structural model was estimated using partial least squares (PLS).

Relationship orientation and brand fit were significant drivers of OBSE and brand motivation, respectively. In turn, they had a significant effect on employee brand-aligned behavior. Model estimation complied with all PLS quality criteria.

Traditional talent management practices that tend to focus on the transactional benefits of the job/career can be strengthened by leveraging strong organizational relationships as well as engagement with the hospitality brand. In turn, employees have the confidence and motivation to exhibit brand-aligned behavior, a path to competitive advantage, which may also act as a buffer helping employees manage the stress of hospitality jobs.

Understanding why employees respond favorably to hospitality talent management practices, beyond simply transactional, monetary reasons, is important to designing relevant and timely initiatives that have the potential to enhance organizational performance.

An exact multiple‐level dynamic substructure technique was developed by a combination of WYD algorithm and static multiple‐level substructuring technique. This method is essentially different from the traditional mode component synthesis. The eigenvalues and eigenvectors created by the method are the eigenpairs for the whole structure and not for the components of structure. On the other hand, the dynamic response by using mode superposition can also be implemented in substructure level. This algorithm actually is an exact substructuring technique which means that substructuring itself did not introduce any additional error except the round‐off when a structure was split into some arbitrary subdomains and the error of WYD or mode superposition themselves. It is no longer necessary to assume any connective condition on the interface between substructures. This method makes the capacity of dynamic analysis of a structural analysis program unlimited. It is especially attractive for the programs on microcomputers. Of course, the method leads to a frequent I/O for a subsequent search of the files from each substructure. It is time consuming compared to the mode component synthesis. But the potential still exists to improve the efficiency by using parallel computation on concurrent computers. In this paper the theory and procedure of the algorithm are presented.

This study aims to use the new product development (NPD) perspective to understand why traditional leading telecom equipment companies, such as Alcatel-Lucent (ALu), have stagnated but the newcomer Huawei has achieved steady growth.

This paper takes the form of a comparative case study.

Three significant differences in NPD process between the companies were discovered: first, although both companies claim that they are market-oriented, Huawei’s NPD projects are customer-driven, and ALu projects are joint considerations of customer demand and technology leadership; second, Huawei uses a design-to-value strategy, and ALu applies a design-for-quality-premium strategy; third, resources are allocated and shared at the corporate level in Huawei and at the business division level in ALu.

This study offers several implications for NPD managers. First, holding a market leader position is more important than being a technology leader. Companies must fundamentally change their mind-sets, restructure NPD models and prioritize and empower marketing and sales departments in the decision-making and management of NPD projects. Second, to maximize customer value, managers must balance cost and quality and avoid overengineering. A quality premium no longer necessarily leads to product competitiveness. Third, to improve the efficiency of NPD performance, companies must build up a mechanism to enable across-boundary resources.

This study highlights a number of key NPD strategy issues. It was conducted in the telecom equipment industry, but NPD managers of other industries will also gain useful insights from the discussion.

This paper aims to understand the role of government played in the innovation process during the social crisis, and to investigate the innovation activities of the authoritarian state when dealing with social crisis.

Secondary data pertaining to eight impactful technological innovations in China during the COVID-19 crisis reveal how interactions and joint efforts by commercial firms and government organizations emerged as spontaneous responses.

The analysis of eight innovations – health code adoption, health omnichannel construction, noncontact service provision, distance education provision, public emotion consolation service, cross-boundary project promotion, cloud office adoption and medical material production – reveals a matrix of best practices that details the roles of government (controller or endorser) and the value creation orientation (pro-social or pro-economic value).

This study enriches innovation literature by providing a new perspective on the relationship between governmental force and technological innovation during social crises. As these new insights reveal, technological innovation can contribute to social crisis management. China’s example provides helpful implications for other countries suffering from the COVID-19 crisis.

The prospect theory is potentially an essential ingredient in modeling the disposition effect. However, many scholars have tried to explain the disposition effect with the help of prospect theory and they came to opposite conclusions. The purpose of this paper is to examine the impact of value function of the prospect theory on predicting the disposition effect.

Lagrange multiplier optimization and dynamic programming method are used to solve the representative investor’s optimal portfolio choice problem. Furthermore, numerical simulation is used to compare the prediction ability of different types of value function.

The authors support that the value function has a crucial role in predicting the disposition effect with prospect theory, i.e. the curvature and boundedness of the value function may influence the performance of applying the prospect theory in the disposition effect. They conclude that a piecewise negative exponential value function can predict the disposition effect, while others like the piecewise power value function may not.

Extant literature about modeling the disposition effect with the prospect theory mostly focus on the time when gain-loss utility occurs or the selection of reference point. This paper based on the value function properties provides a new perspective in analyzing the crucial role that value function has in predicting financial market anomalies.

Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact on the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between alternative oil market models, let alone the basis for the sometimes divergent conclusions reached in the literature. The purpose of this survey is to provide a guide to this literature. Our focus is on the econometric foundations of the analysis of oil market models with special attention to the identifying assumptions and methods of inference.