Optimal Risk Sharing in Society

We consider risk sharing among individuals in a one-period setting under uncertainty that will result in payoffs to be shared among the members. We start with optimal risk sharing in an Arrow–Debreu economy, or equivalently, in a Borch-style reinsurance market. From the results of this model we can infer how risk is optimally distributed between individuals according to their preferences and initial endowments, under some idealized conditions. A main message in this theory is the mutuality principle, of interest related to the economic effects of pandemics. From this we point out some elements of a more general theory of syndicates, where in addition, a group of people are to make a common decision under uncertainty. We extend to a competitive market as a special case of such a syndicate.

Graduate Development Program as Interventional Strategy for Talent Management

Organizations have recognized the need to have a workforce that can give the company direction and help it adapt to continuous market changes. Many organizations have taken note of this ever-changing competitive market and implemented the Graduate Development Program (GDP) to ensure the development and consistent supply of its talent pool. Adopting a qualitative research design with research instruments that allow interaction with all key stakeholders, the objective of this paper is to assess GDP as an interventional strategy for talent management, in the context of Namibia. The study findings are mixed as it shows that current and past employees feel that the GDP implementation is not effective due to their negative perceptions about the identification of outside talent and yet the findings did reveal that the GDP has resulted in improved talent sets and an enabling environment to recruit, develop and retain staff in critical positions.

OVERVIEW OF BSI DIGITALIZATION IN CREATING A HEALTHY COMPETITIVE MARKET BY OPTIMIZING EXISTING STATE-OWNED BANK CUSTOMERS

Indonesia has great potential for the development of the Islamic banking industry. However, the reality shows that this potential increase runs contrary to the development of Islamic banking. The concept of policies that have been set by the government has not been able to persuade the public to use Islamic banking. Therefore, the government implemented the latest policy, namely the merger of Islamic banks by providing one mobile banking. Where there is a merger of Islamic banks accompanied by digitalization, it automatically makes Indonesian Islamic banks a holding bank with larger capital, practical, efficient and easily recognizable. The merger of Islamic banks will strengthen the Islamic banking sector which is predicted to be able to move the real sector and have the highest assets. with the existing potential, the authors conducted research on the development of sharia bank customers by optimizing the digitalization of BSI with the potential for existing BUMN bank customers who have not used sharia services with a healthy competitive market. The research method used is SWOT analysis, as well as quantitative descriptive and simple linear regression T test withobservation data random sample. SWOT matrix analyzed the results also indicate one or mergers quadrant Islamic banks must maintain an aggressive strategy by leveraging the dominance of one bank BUMN.Selain existing customers, the result of quantitative descriptive analysis based on the calculation likert and intervalscale,72% of 60 respondents agreed to the item – a questionnaire item that refers to the creation of a healthy competitive market with the existence of BSI digital banking. From the results of the T test, it shows that there is an influence between the digitalization of banking mergers of Islamic banks on the optimization of existing customers of state-owned banks.

Stacking Subsidies in Factor Markets: Evidence from Market Experiments

Government policies employ different support programs such as subsidies to reduce risks, increase efficiency in markets, and enhance societal welfare. In markets such as ethanol markets, where multiple agents receive subsidy, it is often difficult to determine whether recipients of these support programs will transfer some of their payments to other agents in the market. In this study, we use laboratory market experiments to understand subsidy incidence in markets where both buyers and sellers receive subsidies, and there are few buyers relative to sellers. Our results show that when subsidizing both sides of the market, framing effects matter, and when markets are buyer concentrated, subsidy distributions generally tend to favor buyers. With a per-unit subsidy of 20 tokens to both sides and an equal number of buyers and sellers in the market, we find that buyers increase their earnings by 13.4% while seller earnings decrease by 16.1%. On a per-schedule basis, buyer earnings in the concentrated market are similar to what we observed in the competitive market.

Age Doesn't Matter: Digitizing the as-is Condition of Brownfield Assets is Part of a Leaner & Greener Future

The energy sector is facing more challenges than ever before – from the impacts of the pandemic on already low margins, to Environmental, Social and Governance pressures mounting to gain investment and attract skilled workers in a competitive market. Over past year, the oil and gas sector has accelerated a critical path to digital transformation, paving its way to a more agile, greener future. Data-sharing and collaboration enabled through the Digital Twin helps companies drive efficiency, which in turn creates opportunities to improve sustainability performance, even on legacy assets. This presentation will demonstrate how moving to Digital Twin technology is a viable brownfield solution to many of the industries pressing challenges today. It will also make the business case for how digitalization and digital twin connectivity are not only possible on a brownfield asset but also, why it is critical to meet the needs of the plant of the future.