Game Analysis of the Adverse Selection Formation Mechanism on Engineering Quality Risk Based on Information Asymmetry

2013 ◽  
Vol 328 ◽  
pp. 334-337
Author(s):  
Jian Xun Deng
Keyword(s):  
Information Asymmetry ◽  
Adverse Selection ◽  
Formation Mechanism ◽  
Information Economics ◽  
High Strength ◽  
Strength Level ◽  
Engineering Project ◽  
Construction Market ◽  
Quality Risk ◽  
Countermeasures And Suggestions

The paper makes a deep analysis of the adverse selection formation mechanism under the condition of information asymmetry through the establishment of adverse selection game model in construction market. The paper seeks the root of the construction market risk based on the perspective of information economics. Due to asymmetric information, the adverse selection makes the low strength level engineering quality responsible units expel the high strength level engineering quality responsible units form the construction market , and greatly increases the risk of the construction market, which will make it difficult for construction engineering quality to be guaranteed, and lead to engineering project quality risk. The paper puts forward some effective countermeasures and suggestions to avoid construction market quality risk from both sides of the construction information symmetry angle.

Agency, Information, and the Structure of Moral Problems in Business

2006 ◽  
Vol 28 (2) ◽  
pp. 177-195 ◽  
Author(s):  
Bryan W. Husted
Keyword(s):  
Asymmetric Information ◽  
Moral Hazard ◽  
Information Asymmetry ◽  
Adverse Selection ◽  
Information Economics ◽  
Principal Agent ◽  
Ethical Problems ◽  
Agent Model ◽  
Moral Problems ◽  
Principal Agent Model

Many ethical problems in business can be characterized as having elements of incomplete and/or asymmetric information. This paper analyzes such problems using information economics and the principal-agent model. It defines the nature of moral problems in business and then applies principal-agent models involving adverse selection and moral hazard to these problems. Possible solutions to conditions of information asymmetry are examined in order to support the development of organizational virtue.

Failure Mechanism of Tungsten Heavy Alloy for Mould

2011 ◽  
Vol 341-342 ◽  
pp. 432-435
Author(s):  
Wei Huang ◽  
Ya Feng Li ◽  
Kai Wen Tian ◽  
Fu Jun Shang ◽  
Yong Liu ◽  
...  
Keyword(s):  
Numerical Simulation ◽  
Failure Mechanism ◽  
Matrix Composite ◽  
External Load ◽  
High Strength ◽  
Strength Level ◽  
Heavy Alloy ◽  
Theoretical Strength ◽  
Tungsten Heavy Alloy ◽  
The Real

The failure mechanism of tungsten matrix composite was studied with microscale numerical simulation. The results show that high strength tungsten particles are the real loading elements of composite, its strength level embodies the whole property of the composite to some extent. The real stress in tungsten particles is much higher than the external load, so failure may take place when the external load is less than the theoretical strength of tungsten particles.

scholarly journals Research on Quality Risk Assessment and Application of Large-scale Clusters of Engineering Project

2021 ◽  
Vol 233 ◽  
pp. 03058
Author(s):  
Shan Chen ◽  
Xiaoguang Liang ◽  
Mingmao Li ◽  
Chuanlong Zou
Keyword(s):  
Decision Making ◽  
Quality Management ◽  
Large Scale ◽  
Construction Technology ◽  
Characteristic Analysis ◽  
Engineering Project ◽  
Analytic Hierarchy ◽  
Quality Risk ◽  
Hierarchy Process ◽  
Project Decision

In order to study the quality risk of large-scale clusters of engineering project and makes the characteristic analysis of large-scale clusters of engineering project and evaluates quality risk, the author uses analytic hierarchy process to quantify quality risk factor, and the following conclusions are obtained: (a) Construction management unit that makes the project decision-making mainly controls the QRM, comparatively speaking, it has little control over quality risk when the project is completed and ready to get acceptance (b) In the project decision-making stage, the Construction Technology has the greatest influence on the project quality management. This paper puts forward the suggestion that the influence of quality risk factors should be quantified by associated experts, so as to provide a reference for the construction quality management of large-scale cluster projects.

scholarly journals Solid Solutions Formation Mechanism in Cordierite-Mullite Glass Materials During Ceramization

2020 ◽  
Vol 14 (4) ◽  
pp. 583-589
Author(s):  
Оksana Savvova ◽  
◽  
Hennadiy Voronov ◽  
Оlena Babich ◽  
Oleksii Fesenko ◽  
...  
Keyword(s):  
Heat Treatment ◽  
Formation Mechanism ◽  
Glass Ceramic ◽  
High Strength ◽  
Ceramic Materials ◽  
Ceramic Coatings ◽  
Resource Saving ◽  
Aluminosilicate Glasses ◽  
Glass Ceramic Materials ◽  
Fine Crystalline Structure

Relevance of the development of high-strength glass-ceramic coatings obtained by resource-saving technology for protective elements has been established. Structure formation mechanism in magnesium aluminosilicate glasses during heat treatment has been analyzed. Selection of the system was substantiated, model glasses and glass-ceramic materials on its base have been developed. Patterns of structure regularity and formation of the phase composition of glass-ceramic materials during their ceramization have been investigated. It was established that the presence of crystalline phase of mullite after melting leads to formation of the primary crystals and allows the formation of the fine crystalline structure under conditions of the low-temperature heat treatment at the nucleation stage. Developed high-strength glass ceramic materials can be used as a base in creating protective elements for special-purpose vehicles by energy-saving technology.

scholarly journals Information asymmetries, family ownership and divestiture financial performance: Evidence from Western European countries

2014 ◽  
Vol 11 (4) ◽  
pp. 43-57 ◽  
Author(s):  
Enzo Peruffo ◽  
Raffaele Oriani ◽  
Alessandra Perri
Keyword(s):  
Financial Performance ◽  
Information Asymmetry ◽  
Agency Theory ◽  
Information Economics ◽  
European Countries ◽  
Family Ownership ◽  
Information Asymmetries ◽  
Stock Market Reaction ◽  
Western European ◽  
The Relationship

Compared to other transactions, corporate divestiture is characterized by greater ambiguity and lower transparency, which can be detrimental to stock market reaction. Drawing upon agency theory and information economics literature, this paper examines the relationship between information asymmetries, family ownership and the divestiture financial performance in Western European countries. Based on a sample of 115 Western European divestiture transactions carried out between 1996 and 2010, we find support for the assertion that information asymmetry impacts divestiture financial performance. We also show that the influence of information asymmetries is moderated by family ownership, which acts as a signal of divestiture quality.

scholarly journals Depreciation Choice and Future Operating Performance

2019 ◽  
Vol 9 (1) ◽  
pp. 89
Author(s):  
Marcus L. Caylor ◽  
Scott Whisenant
Keyword(s):  
Information Asymmetry ◽  
Adverse Selection ◽  
Operating Performance ◽  
Signaling Theory ◽  
Cash Flows ◽  
Future Prospects ◽  
Future Earnings ◽  
Accounting Choices ◽  
Straight Line ◽  
Accelerated Depreciation

In this study we test the argument that information asymmetry and the problems of adverse selection provide incentives for managers to use accounting choices to signal relatively higher future prospects. Specifically, we contend that firms use accelerated depreciation to credibly signal higher future earnings and cash flows, consistent with signaling theory. Compared to straight-line depreciation, accelerated depreciation reduces earnings in the earlier years of asset lives and produces more variability in earnings. Despite these drawbacks, hundreds of firms voluntarily use accelerated depreciation for at least some of their depreciable assets. Our results indicate that the use of accelerated depreciation foreshadows higher future earnings and cash flows for horizons of one, two, and three years ahead.

The industrialization of translation

2012 ◽  
Vol 1 ◽  
pp. 143-168 ◽  
Author(s):  
Keiran J. Dunne
Keyword(s):  
Information Asymmetry ◽  
Adverse Selection ◽  
Large Scale ◽  
Quality Uncertainty ◽  
Related Services ◽  
Service Business ◽  
Price Pressure ◽  
Development Of Expertise ◽  
Uncertainty Information

Much has written by scholars on translation as product and as process, but relatively little attention has been paid to translation as a commercial service, business or industry. This article proposes a modest step in this direction by using microeconomics as a window through which to examine the industrialization of translation, focusing on causes, consequences and challenges. It begins by analyzing the outsourcing of translation and translation-related services. It then considers consequences of large-scale outsourcing, including quality uncertainty, information asymmetry, adverse selection, price pressure and perceived commoditization. Finally, the article explores challenges posed by these developments, including signaling and screening, the productivity imperative and the development of expertise. The article concludes with an overview of potential areas of research to be explored in this track in future issues.

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