Two-stage stochastic minimum cost consensus models with asymmetric adjustment costs

2021 ◽  
Vol 71 ◽  
pp. 77-96
Author(s):  
Huanhuan Li ◽  
Ying Ji ◽  
Zaiwu Gong ◽  
Shaojian Qu
2021 ◽  
pp. 1-19
Author(s):  
Huanhuan Li ◽  
Ying Ji ◽  
Shaojian Qu

Decision-makers usually have a variety of unsure situations in the environment of group decision-making. In this paper, we resolve this difficulty by constructing two-stage stochastic integrated adjustment deviations and consensus models (iADCMs). By introducing the minimum cost consensus models (MCCMs) with costs direction constraints and stochastic programming, we develop three types of iADCMs with an uncertainty of asymmetric costs and initial opinions. The factors of directional constraints, compromise limits and free adjustment thresholds previously thought to affect consensus separately are considered in the proposed models. Different from the previous consensus models, the resulting iADCMs are solved by designing an appropriate L-shaped algorithm. On the application in the negotiations on Grains to Green Programs (GTGP) in China, the proposed models are demonstrated to be more robust. The proposed iADCMs are compared to the MCCMs in an asymmetric costs context. The contrasting outcomes show that the two-stage stochastic iADCMs with no-cost threshold have the smallest total costs. Moreover, based on the case study, we give a sensitivity analysis of the uncertainty of asymmetric adjustment cost. Finally, conclusion and future research prospects are provided.


1999 ◽  
Vol 3 (4) ◽  
pp. 506-533 ◽  
Author(s):  
Sumru Altuğ ◽  
Richard A. Ashley ◽  
Douglas M. Patterson

The behavior of postwar real U.S. GNP, the inputs to an aggregate production function, and several formulations of the associated Solow residuals for the presence of nonlinearities in their generating mechanisms are examined. Three different statistical tests for nonlinearity are implemented: the McLeod-Li test, the BDS test, and the Hinich bicovariance test. We find substantial evidence for nonlinearity in the generating mechanism of real GNP growth but no evidence for nonlinearity in the Solow residuals. We further find that the generating mechanism of the labor input series is nonlinear, whereas that of the capital services input appears to be linear. We therefore conclude that the observed nonlinearity in real output arises from nonlinearities in the labor markets, not from nonlinearities in the technical shocks driving the system. Finally, we investigate the source of the nonlinearities in the labor markets by examining simulated data from a model of the Dutch economy with asymmetric adjustment costs.


2019 ◽  
Vol 37 (4) ◽  
pp. 5655-5668 ◽  
Author(s):  
Yefan Han ◽  
Shaojian Qu ◽  
Zhong Wu ◽  
Ripeng Huang

Author(s):  
Kalun Ho ◽  
Amirhossein Kardoost ◽  
Franz-Josef Pfreundt ◽  
Janis Keuper ◽  
Margret Keuper

Sign in / Sign up

Export Citation Format

Share Document