There are several methods in the literature to find the fuzzy optimal solution of fully fuzzy linear programming (FFLP) problems. However, in all these methods, it is assumed that the product of two trapezoidal (triangular) fuzzy numbers will also be a trapezoidal (triangular) fuzzy number. Fan et al. (“Generalized fuzzy linear programming for decision making under uncertainty: Feasibility of fuzzy solutions and solving approach”, Information Sciences, Vol. 241, pp. 12–27, 2013) proposed a method for finding the fuzzy optimal solution of FFLP problems without considering this assumption. In this paper, it is shown that the method proposed by Fan et al. (2013) suffer from errors and to overcome these errors, a new method (named as Mehar method) is proposed for solving FFLP problems by modifying the method proposed by Fan et al. (2013) . To illustrate the proposed method, some numerical problems are solved.
This paper employs a sample of Chinese A-share listed companies spanning from 2011 to 2022 to empirically investigate the influence of climate policy uncertainty on the corporate cost of debt, based on the theory of financial friction. We find that climate policy uncertainty significantly increases the corporate cost of debt, and the result is supported by robustness tests. To avoid biases arisen from endogeneity, this paper introduces an instrumental variable approach and propensity score matching method for verification. The endogeneity test results support the baseline regression results as well. Finally, this paper also discovers that financing constraints are the potential mechanism behind the impact of climate policy uncertainty on the corporate cost of debt.
Energy systems face serious difficulties due to economic policy uncertainty, which affects consumption trends and makes the shift to sustainability more difficult. While adjusting for economic growth and carbon emissions, this study examines the dynamic relationship between economic policy uncertainty and energy consumption (including renewable and nonrenewable) in China from 1985Q1 to 2023Q4. The research reveals the frequency-specific and time-varying relationships between these variables by employing sophisticated techniques such as Wavelet Cross-Quantile Correlation (WCQC) and Partial WCQC (PWCQC). Economic policy uncertainty and energy consumption do not significantly correlate in the short term; however, over the long term, economic policy uncertainty positively correlates with renewable energy consumption at medium-to-upper quantiles, indicating that it may play a role in encouraging investments in sustainable energy. On the other hand, EPU has a negative correlation with nonrenewable energy usage at lower quantiles, indicating a slow move away from fossil fuels. These results are confirmed by robustness testing with Spearman-based WCQC techniques. The study ends with policy recommendations to maximize economic policy uncertainty’s long-term impacts on renewable energy, reduce dependency on fossil fuels, and attain environmental and energy sustainability in China.
The application of optimization algorithms is crucial for analyzing oil and gas company portfolio and supporting decision-making. The paper investigates the process of optimizing a portfolio of oil and gas projects under economic uncertainty. The literature review explores the advantages of applying various optimizers to models that consider the mean and semi-standard deviations of stochastic multi-year cash flows and revenues. The methods and results of three different optimization algorithms are discussed: ranking and cutting algorithms, linear (Simplex) and evolutionary (genetic) algorithms. Functions of several key performance indicators were used to test these algorithms. The results confirmed that multi-objective optimization algorithms that examine various key performance indicators are used for efficient optimization in oil and gas companies. This paper proposes a multi-criteria optimization model for investment portfolios of oil and gas projects. The model considers the specific features of these projects and is based on the Markowitz portfolio theory and methodological recommendations for project assessment. An example of its practical application to oil and gas projects is also provided.
Heat stress amplified by climate change causes excessive reductions in labor capacity, work injuries, and socio-economic losses. Yet studies of corresponding impact assessments and adaptation developments are insufficient and incapable of effectively dealing with uncertain information. This gap is caused by the inability to resolve complex channels involving climate change, labor relations, and labor productivity. In this paper, an optimization-based productivity restoration modeling framework is developed to bridge the gap and support decision-makers in making informed adaptation plans. The framework integrates a multiple-climate-model ensemble, an empirical relationship between heat stress and labor capacity, and an inexact system costs model to investigate underlying uncertainties associated with climate and management systems. Optimal and reliable decision alternatives can be obtained by communicating uncertain information into the optimization processes and resolving multiple channels. Results show that the increased heat stress will lead to a potential reduction in labor productivity in China. By solving the objective function of the framework, total system costs to restore the reduction are estimated to be up to 248,700 million dollars under a Representative Concentration Pathway of 2.6 (RCP2.6) and 697,073 million dollars under RCP8.5 for standard employment, while less costs found for non-standard employment. However, non-standard employment tends to restore productivity reduction with the minimum system cost by implementing active measures rather than passive measures due to the low labor costs resulting from ambiguities among employment statuses. The situation could result in more heat-related work injuries because employers in non-standard employment can avoid the obligation of providing a safe working environment. Urgent actions are needed to uphold labor productivity with climate change, especially to ensure that employers from non-standard employment fulfill their statutory obligations.
Background: According to the 2023 World Economic Forum report, the impact of Artificial Intelligence (AI) and automation on the job market was more significant than originally projected. Although 2018 research forecasted significant job losses balanced by job creation, current data indicates otherwise. Between 2023 and 2027, it is anticipated that 69 million new jobs will be created due to advancements in AI, however, this will be offset by the loss of 83 million jobs, leading to a net decrease of 14 million jobs worldwide. Roles related to AI, digitalization, and sustainability, such as AI specialists and renewable energy engineers are expected to grow, while those in clerical and administrative sectors are most at risk of decline. This shift underscores the need for reskilling and adapting to evolving fields, as nearly 44% of workers skills will face disruption by 2027. The demand for analytical thinking, technological literacy, and adaptability will grow as companies increasingly adopt frontier technologies. Objectives: (1) identify key variables influencing adaptability of college graduates in Indonesia, (2) quantify the strength of relationships between these variables to understand the combined effect on graduate adaptability. The research also aims to (3) develop theoretical and practical recommendations to strengthen ICIL policy and equip students with the relevant skills needed to thrive in an ever-changing job market. Methodology: The research focuses on predicting future employment trends, adaptability, and learning agility (LA), along with the implications for improving the Independent Campus Independent Learning (ICIL) policy. It focused on the significant unemployment rate among college graduates, along with the lack of research on the relationship between job change predictions, graduates’ adaptability, and the impact on graduates’ general well-being. The mixed-method strategy with quantitative analysis was used to conduct this research with data collected from 284 ICIL participants through online survey. The gathered data was evaluated using Structural Equation Modeling (SEM) with Lisrel version 10. Results: The result showed that job trend projections significantly influence responsiveness, which demonstrated a robust association between employment trend predictions and LA. Responsiveness significantly influenced learning agility which indicated no significant direct association between job trend projections and graduate adaptability. Conclusion: The research emphasized the need to consider adaptability as a concept with multiple dimensions. It proposed incorporating these factors into strategies for education and human resources development in order to better equip graduates for the demands of a constantly changing work market. Unique contribution: This research focused on adaptability as a multifaceted concept that consist of the ability to forecast job trends, be sensitive, and possess LA. It offered a deeper understanding of the relationships between these variables as discussed in the human resources literature. Technology, corporate culture, and training played a critical role in connecting employment trend prediction with the ability to respond effectively. Key recommendation: Institutions should implement a comprehensive approach to the development of human resources, with emphasis on fostering critical thinking, analytical abilities, and the practical application of information. By employing these tactics, higher education institutions may effectively equip graduates with both academic proficiency and the ability to adapt and thrive in quickly changing organizational environments, leading to the production of robust and versatile workers.
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