Search Results (340)

This study investigates the predictive performance of financial indicators in forecasting stock prices within the automotive sector using an adaptive neuro-fuzzy inference system (ANFIS). In light of the growing complexity of global financial markets and the increasing demand for automated, data-driven forecasting models, this research aims to identify those financial ratios that most accurately reflect price dynamics in this specific industry. The model incorporates four widely used financial indicators, return on assets (ROA), return on equity (ROE), earnings per share (EPS), and profit margin (PM), as inputs. The analysis is based on real financial and market data from automotive companies, and model performance was assessed using RMSE, nRMSE, and confidence intervals. The results indicate that the full model, including all four indicators, achieved the highest accuracy and prediction stability, while the exclusion of ROA or ROE significantly deteriorated model performance. These findings challenge the weak-form efficiency hypothesis and underscore the relevance of firm-level fundamentals in stock price formation. This study’s sector-specific approach highlights the importance of tailoring predictive models to industry characteristics, offering implications for both financial modeling and investment strategies. Future research directions include expanding the indicator set, increasing the sample size, and testing the model across additional industry domains. Full article

This study develops an integrated environmental–economic assessment framework to evaluate the life cycle environmental impacts and economic costs of CO₂ geological storage and produced water treatment in saline formations in China. Using a case study of a saline aquifer carbon storage project in the Ordos Basin, eight full-chain carbon capture, utilization, and storage (CCUS) scenarios were analyzed. The results indicate that environmental and cost performance are primarily influenced by technology choices across carbon capture, transport, and storage stages. The scenario employing potassium carbonate-based capture, pipeline transport, and brine reinjection after a reverse osmosis treatment (S5) achieved the most balanced outcome. Breakeven analyses under three carbon price projection models revealed that carbon price trajectories critically affect project viability, with a steadily rising carbon price enabling earlier profitability. By decoupling CCUS from power systems and focusing on unit CO₂ removal, this study provides a transparent and transferable framework to support cross-sectoral deployment. The findings offer valuable insights for policymakers aiming to design effective CCUS support mechanisms under future carbon neutrality targets. Full article

Various factors influence the formation and adjustment of network freight prices, including transportation costs, cargo characteristics, and policies and regulations. The interaction of these factors increases the difficulty of accurately predicting network freight prices through regressions or other machine learning models, especially when the amount and quality of training data are limited. This paper introduces large language models (LLMs) to predict network freight prices using their inherent prior knowledge. Different data sorting methods and serialization strategies are employed to construct the corpora of LLMs, which are then tested on multiple base models. A few-shot sample dataset is constructed to test the performance of models under insufficient information. The Chain of Thought (CoT) is employed to construct a corpus that demonstrates the reasoning process in freight price prediction. Cross entropy loss with LoRA fine-tuning and cosine annealing learning rate adjustment, and Mean Absolute Error (MAE) loss with full fine-tuning and OneCycle learning rate adjustment to train the models, respectively, are used. The experimental results demonstrate that LLMs are better than or competitive with the best comparison model. Tests on a few-shot dataset demonstrate that LLMs outperform most comparison models in performance. This method provides a new reference for predicting network freight prices. Full article

Background: The quality of decision-making processes is increasingly recognized as critical to public trust and policy sustainability. Objectives: This narrative review aims to identify and describe process-focused decision support models (DSMs) applied in pharmaceutical policy, and to examine their potential contributions to improving procedural quality in decisions related to pricing, reimbursement, and access to medicines. Methods: Relevant peer-reviewed and gray literature published between 2000 and 2025 was considered, drawing from key databases (e.g., PubMed and Scopus) and international policy reports (e.g., WHO, ISPOR, and HTA agencies). Studies were included if they provided insights into DSMs addressing at least one dimension of decision process quality. Results: Findings are synthesized narratively and organized by tool type, application context, and key quality dimensions. Frequently referenced tools included the Quality of Decision-Making Orientation Scheme (QoDoS), WHO-INTEGRATE, and AGREE II. QoDoS emerged as the only tool applied across regulatory, HTA, and industry settings, evaluating both individual- and organizational-level practices. WHO-INTEGRATE highlighted equity and legitimacy considerations but lacked a structured format. Overall, most tools demonstrated benefits in promoting internal consistency, transparency, and stakeholder engagement; however, their adoption remains limited, especially in low- and middle-income countries. Conclusions: Process-focused DSMs offer promising avenues for enhancing transparency, consistency, and legitimacy in pharmaceutical policy. Further exploration is needed to standardize evaluation approaches and expand the use of DSMs in diverse health systems. Full article

Given the significant shifts in rural labor mobility patterns and their continuous influence on the transformation of the land factor market, it is crucial to understand the relationship between labor factor prices and land factor prices. This understanding is essential to keep land factor prices within a reasonable range. This study establishes a theoretical framework to investigate how migrant workers’ return shapes land price formation mechanisms. Using 2023 micro-level survey data from eight counties in Jiangsu Province, China, this study empirically examines how migrant workers’ return affects land transfer prices and its underlying mechanisms through OLS regression and instrumental variable approaches. The findings show that under the current pattern of labor mobility, the outflow factor alone is no longer sufficient to exert substantial downward pressure on land transfer prices. Instead, the localized return of labor has emerged as a key driver behind the rise in land transfer prices. This upward mechanism is primarily realized through the following pathways. First, factor substitution effect: this effect lowers labor prices and increases the relative marginal output value of land factors. Second, supply–demand effect: migrant workers’ return simultaneously increases land demand and reduces supply, intensifying market shortages and driving up transfer prices. Lastly, the results demonstrate that enhancing the stability of land tenure security or increasing local non-agricultural employment opportunities can mitigate the effect of rising land transfer prices caused by the migrant workers’ return. According to the study’s findings, stabilizing land factor prices depends on full non-agricultural employment for migrant workers. This underscores the significance of policies that encourage employment for returning rural labor. Full article

This study presents a detailed and comprehensive investigation into the macro-scale performance, strength gain mechanisms, environment and economic performance of graphene oxide (GO)-enhanced low-emission concrete. A comprehensive experimental program evaluated fresh and hardened properties, including slump retention, bleeding, air content, compressive, flexural, and tensile strength, drying shrinkage, and elastic modulus. Scanning Electron Microscopy (SEM), energy-dispersive spectroscopy (EDS), Thermogravimetric analysis (TGA) and proton nuclear magnetic resonance (¹H-NMR) was employed to examine microstructural evolution and early age water retention, confirming GO’s role in accelerating cement hydration and promoting C-S-H formation. Optimal performance was achieved at 0.05% GO (by binder weight), resulting in a 25% increase in 28-day compressive strength without compromising workability. This outcome is attributed to a tailored, non-invasive mixing strategy, wherein GO was pre-dispersed during synthesis and subsequently blended without the use of invasive mixing methods such as high shear mixing or ultrasonication. Fourier-transform infrared (FTIR) spectroscopy further validated the chemical compatibility of GO and PCE and confirmed the compatibility and efficiency of the admixture. Sustainability metrics, including embodied carbon and strength-normalized cost indices (USD/MPa), indicated that, although GO increased material cost, the overall cost-performance ratio remained competitive at breakeven GO prices. Enhanced efficiency also led to lower net embodied CO₂ emissions. By integrating mechanical, microstructural, and environmental analyses, this study demonstrates GO’s multifunctional benefits and provides a robust basis for its industrial implementation in sustainable infrastructure. Full article

In the context of global e-commerce platform supply chains dominated by Alibaba and Amazon, power reconfiguration among tripartite stakeholders (platforms, manufacturers, and retailers) remains a critical yet underexplored issue in supply chain contract design. To analyze the strategic interactions between platforms, manufacturers, and retailers, as well as how platforms select the contract format within a tripartite supply chain, this study proposes a Stackelberg game-theoretic framework incorporating participation constraints to compare fixed-fee and revenue-sharing contracts. The results demonstrate that revenue-sharing contracts significantly enhance supply chain efficiency by aligning incentives across members, leading to improved pricing and sales outcomes. However, this coordination benefit comes with reduced platform dominance, as revenue-sharing inherently redistributes power toward upstream and downstream partners. The analysis reveals a nuanced contract selection framework: given the revenue sharing rate, as the additional value increases, the optimal contract shifts from the mode RR to the mode RF, and ultimately to the mode FF. Notably, manufacturers and retailers exhibit a consistent preference for revenue-sharing contracts due to their favorable profit alignment properties, regardless of the platform’s value proposition. These findings may contribute to platform operations theory by (1) proposing a dynamic participation framework for contract analysis, (2) exploring value-based thresholds for contract transitions, and (3) examining the power-balancing effects of alternative contract formats. This study offers actionable insights for platform operators seeking to balance control and cooperation in their supply chain relationships, while providing manufacturers and retailers with strategic guidance for contract negotiations in platform-mediated markets. These findings are especially relevant for large e-commerce platforms and their partners managing the complexities of contemporary digital supply chains. Full article

This paper investigates sustainable decision systems within green E-business models by analyzing how different O2O (online-to-offline) fulfillment structures affect emission-reduction efforts and pricing strategies in a two-tier supply chain consisting of a manufacturer and a new retailer. Three practical sales formats—package self-pickup, nearby delivery, and hybrid—are modeled using Stackelberg game frameworks that incorporate key factors such as inconvenience cost, logistics cost, processing fees, and emission-reduction coefficients. Results show that the manufacturer’s emission-reduction decisions and both parties’ pricing strategies are highly sensitive to cost conditions and consumer preferences. Specifically, higher inconvenience and abatement costs consistently reduce profitability and emission efforts; the hybrid model exhibits threshold-dependent advantages over single-mode strategies in terms of carbon efficiency and economic returns; and consumer green preference and distance sensitivity jointly shape optimal channel configurations. Robustness analysis confirms the model’s stability under varying parameter conditions. These insights provide theoretical and practical guidance for firms seeking to develop adaptive, low-carbon fulfillment strategies that align with sustainability goals and market demands. Full article

As pet owners become increasingly mindful of pet health and sustainability, labeling plays a crucial role in shaping informed purchasing decisions for pet food. This study evaluated the nutritional adequacy and pricing of plant-based, hybrid, and animal-based dog foods. Using the Mintel database, we analyzed product labels, ingredient compositions, and marketing claims for various dog food categories. The findings revealed notable differences in key nutrients, such as protein, fiber, fat, ash, and moisture content. Plant-based dog foods generally offer higher fiber and ash content but often fall short in protein and fat levels, particularly in snacks and treats, which may impact their suitability for meeting the dietary needs of canines. Hybrid dog foods, which blend plant and animal ingredients, show greater variability, with some achieving balanced protein and fat content, while fiber levels depend on the plant-based proportion. Animal-based foods tend to excel in protein and fat content, particularly in wet and dry formats, while being lower in fiber and ash content. A key concern is the reliance on additives, particularly in plant-based and hybrid options, which raises questions about the long-term health impacts on pets. Pricing trends indicate that plant-based dog foods are generally more expensive than hybrid and animal-based options, although the cost varies widely across all categories. Full article

This study investigates the effects of unverifiable green signals—vague environmental claims, trust-substitute cues, and function-stacking—on consumer purchasing behaviors in e-commerce settings. Using detailed product-level data collected from two major Chinese online platforms, Taobao and Pinduoduo, during the peak shopping period in November 2023, we analyze the impact of these signals on product sales using ordinary least squares (OLS), instrumental variable (IV), and propensity score matching (PSM) methods. Results indicate that vague environmental language and function-stacking significantly boost sales across platforms, highlighting consumers’ preference for easily interpretable and seemingly comprehensive products. However, trust-substitute signals exhibit mixed effects, with them being beneficial on platforms with stronger credibility frameworks (Taobao) and less effective or even detrimental on platforms characterized by price competition and weaker governance (Pinduoduo). This study contributes to the literature on consumer trust and digital greenwashing by identifying platform-specific responses to unverifiable eco-claims and underscoring the importance of heuristic processing theories and trust formation mechanisms in digital marketing contexts. These findings underscore the complex dynamics of greenwashing strategies and stress the necessity for enhanced regulation and clearer communication standards to protect consumers and genuinely support sustainable consumption. Full article

Agent-based models are a flexible and scalable modeling approach employed to study and describe the evolution of complex systems in different fields, such as social sciences, engineering, and economics. In the latter, they have been largely employed to model financial markets with a bottom-up approach, with the aim of understanding the price formation mechanism and to generate market scenarios. In the last few years, they have found application in the analysis of energy markets, which have experienced profound transformations driven by the introduction of energy policies to ease the penetration of renewable energy sources and the integration of electric vehicles and by the current unstable geopolitical situation. This review provides a comprehensive overview of the application of agent-based models in energy commodity markets by defining their characteristics and highlighting the different possible applications and the open-source tools available. In addition, it explores the possible integration of agent-based models with machine learning techniques, which makes them adaptable and flexible to the current market conditions, enabling the development of dynamic simulations without fixed rules and policies. The main findings reveal that while agent-based models significantly enhance the understanding of energy market mechanisms, enabling better profit optimization and technical constraint coherence for traders, scaling these models to highly complex systems with a large number of agents remains a key limitation. Full article

As consumer behavior increasingly shifts toward hyperlocal, digitally mediated retail journeys, community unmanned stores have emerged as a transformative model that integrates smart technologies with community proximity services. These fully automated stores offer convenient, contactless shopping and hybrid digital–physical interactions, playing an increasingly important role within broader omnichannel digital retail ecosystems. However, there remains a lack of validated instruments to assess customer experience in such autonomous and locally embedded retail formats. This study develops and validates an ECUS-scale (an experience in community unmanned store scale), a multidimensional measurement tool grounded in qualitative research and refined through exploratory and confirmatory factor analysis. The scale identifies nine key dimensions—convenient service, smooth transaction, preferential price, good quality, safe environment, secure payment, comfortable space, comfortable interaction, and friendly image—across 36 items. These dimensions reflect the technological, spatial, and emotional–social aspects of customer experience in unmanned retail settings. The findings demonstrate that the ECUS-scale offers a robust framework for evaluating consumer experience in low-staffed, tech-enabled community stores, with strong relevance to omnichannel digital retail strategies. Theoretically, it advances the literature on smart retail experience by capturing underexplored dimensions such as emotional engagement with technology and perceptions of safety in staff-free environments. Practically, it serves as a diagnostic tool for businesses to enhance experience design and optimize customer engagement across digital and physical touchpoints. Full article

Diversified application scenarios and business models are effective ways to improve the utilization and economic benefits of energy storage systems. In response to the current problems of single application scenarios, high idle rates, and imperfect price formation mechanisms faced by energy storage on the power generation side, a robust two-stage optimization operation strategy for shared energy storage is proposed, taking into account leasing demand and multiple uncertainties, from the perspective of the sharing concept. A multi-scenario application framework for shared energy storage is established to provide leasing services for wind farm clusters, as well as auxiliary services for participating in the electric energy markets and frequency regulation markets, and the participation sequence is streamlined. Based on the operating and opportunity costs of shared energy storage, a pricing mechanism for leasing services is designed to explore the driving forces of wind farm clusters participating in leasing services from the perspective of cost assessment. Considering the uncertainty of wind power output and market electric prices, as well as the market operational characteristics, an optimized operation model for shared energy storage in the day-ahead and real-time stages is constructed. In the day-ahead stage, a Stackelberg game model is introduced to depict the energy sharing between wind farm clusters and shared energy storage, forming leasing prices, leasing capacities, and energy storage pre-scheduling plans at different time periods. In the real-time stage, the real-time prediction results of wind power output and electric prices are integrated with scheduling decisions, and an improved robust optimization model is used to dynamically regulate the pre-scheduling plan for leasing capacity and shared energy storage. Based on actual data from the electricity market in Guangdong Province, effectiveness verification is conducted, and the results showed that diversified application scenarios improve the utilization rate of shared energy storage in the power generation side by 52.87%, increasing economic benefits by CNY 188,700. The proposed optimized operation strategy has high engineering application value. Full article

The huge penetration of renewable energy sources poses several challenges for the function of electricity markets, such as increased price volatility and massive curtailments. This paper investigates the current structure of the wholesale electricity market in Greece under the Target Model guidelines. Our analysis put under scrutiny the formation and function of both spot and balancing markets by highlighting key challenges and reforms. Empirical evidence reveals that the domestic market is currently in accordance with the European Target Model; however, the anticipated benefits in terms of more competitive prices are not evident yet. The oversupply of electricity accompanied by low demand that is apparent in the Greek market points to the rapid participation of storage units in the system. The paper provides a detailed description of the recent support mechanism to facilitate the integration of BESS into the system. Eventually, this is anticipated to reduce price volatility and smoothen the price curves. Full article

Under China’s dual land ownership system, the use rights of urban land (state-owned) and rural land (collective-owned) are not equal. Understanding the roles of ownership type and government decision-making behaviors in the formation of land prices is crucial for further reform to promote “equal rights and equal prices” for urban and rural land. This paper analyzed the impact of ownership type on construction land prices using micro-level land transaction data from Wujin District, Changzhou City, from 2015 to 2021 and investigated the role of government decision-making behaviors such as spatial planning and supply plan in this relationship. The results show that collective ownership has a negative impact on land prices, and the development of collective-owned construction land has a positive impact on the prices of adjacent land. In addition, the boundary of downtown areas determined by spatial planning enhances the negative impact of collective ownership on land prices, thus widening the price gap between state and collective-owned land within the downtown areas. Furthermore, the proportion of collective-owned construction land in the annual land supply determined by the land supply plan strengthens the negative impact of collective ownership on land prices, meaning that an increase in the supply of collective-owned construction land leads to further downward pressure on land prices. This study can provide insights for policy making aiming to achieve “equal rights and equal prices” for land with different ownership type in China and in other countries with a dual land ownership system. Full article