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This paper aims to introduce a novel 4D hyperchaotic fractional-order system which can produce one-to-four-wing hyperchaotic attractors. In the study of chaotic systems with variable-wing attractors, although some chaotic systems can generate one-to-four-wing attractors, none of them are hyperchaotic attractors, which is incomplete for the dynamic characteristics of chaotic systems.

A novel 4D fractional-order hyperchaotic system is proposed based on the classical three-dimensional Lü system. The complex and abundant dynamic behaviors of the fractional-order system are analyzed by phase diagrams, bifurcation diagrams and the corresponding Lyapunov exponents. In addition, SE and C₀ algorithms are used to analyze the complexity of the fractional-order system. Then, the influence of order q on the system is also investigated. Finally, the circuit is implemented using physical components.

The most particular interest is that the system can generate one-to-four-wing hyperchaotic attractors with only one parameter variation. Then, the hardware circuit experimental results tally with the numerical simulations, which proves the validity and feasibility of the fractional-order hyperchaotic system. Besides, under different initial conditions, coexisting attractors can be obtained by changing the parameter d or the order q. Then, the complexity analysis of the system shows that the fractional-order chaotic system has higher complexity than the corresponding integer-order chaotic system.

The circuit structure of the fractional-order hyperchaotic system is simple and easy to implement, and one-to-four-wing hyperchaotic attractors can be observed in the circuit. To the best of the knowledge, this unique phenomenon has not been reported in any literature. It is of great reference value to analysis and circuit realization of fractional-order chaotic systems.

This paper aims to explore the promotion decisions of heterogeneous sellers on a decentralized platform under competitive conditions and analyze how seller behaviors impact platform profit, seller revenue, buyer surplus and social welfare.

This paper considers a Cournot model consisting of a platform charging a commission rate and two sellers with different conversion rates and browsing costs. Promotion efforts by sellers can increase traffic, but they also incur promotion costs for sellers. The sellers decide on promotion effort by weighing these two effects. The authors also explore the equilibrium when the platform charges a fixed usage fee.

The seller’s profit improves as its conversion rate increases and worsens as browsing costs increase. Also, increasing the commission rate charged by the platform makes the seller invest less in promotional efforts. Therefore, the platform must consider this trade-off to determine an optimal rate. The analysis shows that the seller with a high conversion rate and high browsing cost plays a greater role in generating more overall revenue. When the market favors such a seller, the platform tends to charge less in order not to impair its profitability.

This paper incorporates conversion rate, buyer’s browsing cost, unit promotion cost and the fee charged by the platform into the model to study sellers’ promotion decisions on decentralized platforms.

For survival and prosperity, enterprises must pursue exploitative and exploratory innovations simultaneously. To accelerate technological breakthroughs in the wind power industry, the Chinese Government has promulgated several support programs from the demand and supply sides. This study assesses the impact of different categories of innovation policies on exploitative and exploratory innovation. As women also play an increasingly important role in corporate governance, the authors also elucidate the moderating role of female executives in these relationships.

Based on micro-data of 119 listed Chinese wind power firms during 2006–2020, this study provides a theoretical model and tests the hypotheses.

Both demand-side and supply-side innovation policies significantly facilitate exploitative and exploratory innovations of in the Chinese wind power industry. Furthermore, female executives enhance the effects of these policies on exploitative innovation but negatively moderate their effects on exploratory innovation.

Innovation is generally considered homogeneous. This is one of the first studies to evaluate the impact of different categories of innovation policies on exploitative and exploratory innovations. In addition, although the increasingly important role of women in corporate governance is acknowledged, whether and how female executives affect the effectiveness of innovation policies has not been fully explored. This study advances the understanding of the potential impact of female executives on innovation policy effectiveness.