Prospect theory and the effects of bankruptcy laws on entrepreneurial aspirations

We apply prospect theory to explain how personal and corporate bankruptcy laws affect risk perceptions of entrepreneurs at time of entry and therefore their growth ambitions. Previous theories have reached ambiguous conclusions as to whether countries with more debtor-friendly bankruptcy laws (i.e. laws that are more forgiving towards debtors in bankruptcy proceedings) are likely to have more entrepreneurs, or whether, creditorfriendly regimes have positive effects on new ventures via enhanced incentives for the supply of credit to entrepreneurs. Responding to this ambiguity, we apply prospect theory to propose that entrepreneurs do not attach the same significance to different elements of bankruptcy codes—and to explain which aspects of debtor-friendly bankruptcy laws matter more to entrepreneurs. Based on this, we derive and confirm hypotheses about the impact of aspects of bankruptcy codes on entrepreneurial activity using the Global Entrepreneurship Monitor combined with data on both personal and corporate bankruptcyregulations for 15 developed OECD countries. We use multilevel random coefficient logistic regressions to take account of the hierarchical nature of the data (country and individual levels). Because entrepreneurs and creditors are sensitive to different elements of the codes, there is scope for optimisation of the legal design of bankruptcy law to achieve both an adequate supply of credit and to encourage high-ambition entrepreneurship.

A heuristic approach for component scheduling on a high-speed PCB assembly machine

The collect-and-place machine is one of the most widely used placement machines for assembling electronic components on the printed circuit boards (PCBs). Nevertheless, the number of researches concerning the optimisation of the machine performance is very few. This motivates us to study the component scheduling problem for this type of machine with the objective of minimising the total assembly time. The component scheduling problem is an integration of the component sequencing problem, that is, the sequencing of component placements; and the feeder arrangement problem, that is, the assignment of component types to feeders. To solve the component scheduling problem efficiently, a hybrid genetic algorithm is developed in this paper. A numerical example is used to compare the performance of the algorithm with different component grouping approaches and different population sizes.

A genetic algorithm to optimise the component placement process in the PCB assembly

In printed circuit board (PCB) assembly, the efficiency of the component placement process is dependent on two interrelated issues: the sequence of component placement, that is, the component sequencing problem, and the assignment of component types to feeders of the placement machine, that is, the feeder arrangement problem. In cases where some components with the same type are assigned to more than one feeder, the component retrieval problem should also be considered. Due to their inseparable relationship, a hybrid genetic algorithm is adopted to solve these three problems simultaneously for a type of PCB placement machines called the sequential pick-and-place (PAP) machine in this paper. The objective is to minimise the total distance travelled by the placement head for assembling all components on a PCB. Besides, the algorithm is compared with the methods proposed by other researchers in order to examine its effectiveness and efficiency.

QoE-aware power management in vehicle-to-grid networks:a matching-theoretic approach

Frequency, time and places of charging and discharging have critical impact on the Quality of Experience (QoE) of using Electric Vehicles (EVs). EV charging and discharging scheduling schemes should consider both the QoE of using EV and the load capacity of the power grid. In this paper, we design a traveling plan-aware scheduling scheme for EV charging in driving pattern and a cooperative EV charging and discharging scheme in parking pattern to improve the QoE of using EV and enhance the reliability of the power grid. For traveling planaware scheduling, the assignment of EVs to Charging Stations (CSs) is modeled as a many-to-one matching game and the Stable Matching Algorithm (SMA) is proposed. For cooperative EV charging and discharging in parking pattern, the electricity exchange between charging EVs and discharging EVs in the same parking lot is formulated as a many-to-many matching model with ties, and we develop the Pareto Optimal Matching Algorithm (POMA). Simulation results indicates that the SMA can significantly improve the average system utility for EV charging in driving pattern, and the POMA can increase the amount of electricity offloaded from the grid which is helpful to enhance the reliability of the power grid.

Matching theory based travel plan aware charging algorithms in V2G smart grid networks

The frequency, time and places of charging have large impact on the Quality of Experience (QoE) of EV drivers. It is critical to design effective EV charging scheduling system to improve the QoE of EV drivers. In order to improve EV charging QoE and utilization of CSs, we develop an innovative travel plan aware charging scheduling scheme for moving EVs to be charged at Charging Stations (CS). In the design of the proposed charging scheduling scheme for moving EVs, the travel routes of EVs and the utility of CSs are taken into consideration. The assignment of EVs to CSs is modeled as a two-sided many-to-one matching game with the objective of maximizing the system utility which reflects the satisfactory degrees of EVs and the profits of CSs. A Stable Matching Algorithm (SMA) is proposed to seek stable matching between charging EVs and CSs. Furthermore, an improved Learning based On-LiNe scheduling Algorithm (LONA) is proposed to be executed by each CS in a distributed manner. The performance gain of the average system utility by the SMA is up to 38.2% comparing to the Random Charging Scheduling (RCS) algorithm, and 4.67% comparing to Only utility of Electric Vehicle Concerned (OEVC) scheme. The effectiveness of the proposed SMA and LONA is also demonstrated by simulations in terms of the satisfactory ratio of charging EVs and the the convergence speed of iteration.