Contract Model Research Articles

Automatic construction and verification algorithm for smart contracts based on formal verification

As an emerging technology, blockchain demonstrates strong potential for applications in digital finance. As a core component of blockchain, the security and reliability of smart contracts is crucial. To ensure the high reliability of smart contracts, this study employs formal construction and verification techniques based on game theory. Initially, the profit function is defined using distortion techniques, and a game model for supply chain participation is designed. However, the equilibrium solution of the two-party game does not represent the optimal solution for the supply chain system. Therefore, the study introduces third-party participation to optimize the equilibrium solution. Finally, a probability model detection method is used to verify the constructed smart contract model. The results show that the supply chain model, analyzed through formal methods, has attributes consistent with theoretical analysis. Consequently, the research on automatic construction and verification algorithms for smart contracts based on formal verification proves to be effective and feasible in practical applications.

NH3 (1,1) hyperfine intensity anomalies in infall sources

Identifying infall motions is crucial for our understanding of accretion processes in regions of star formation. The NH3 (1,1) hyperfine intensity anomaly (HIA) has been proposed to be a readily usable tracer for such infall motions in star-forming regions harboring young stellar objects at very early evolutionary stages. In this paper, we seek to study the HIA toward 15 infall candidate regions in order to assess its reliability as an infall tracer. Using deep observations of the NH3 (1, 1) transition with the Effelsberg 100 m telescope, we identified HIAs toward all 15 targets. Of the 15 sources, 14 exhibit anomalous intensities in either the inner or outer satellite lines. All the derived HIAs conform to the framework of the existing two models, namely hyperfine selective trapping (HST) and systematic contraction or expansion motion (CE) models. In our sample of infall candidates, the majority of the HIAs remain consistent with the HST model. Only in three targets are the HIAs consistent with infall motions under the CE model. Thus, the HIA could indeed be used as an infall tracer, but does not appear to be highly sensitive to infall motions in our single-dish data. Nevertheless, the emission could be blended with emission from outflow activities. HIAs consistent with the HST model show stronger anomalies with increasing kinetic temperatures (TK), which is expected based on the HST model. On the other hand, HIAs consistent with infall motions show little dependence on Tk . Therefore, HIAs may preferably trace the infall of cold gas.

Is blockchain cost-effective in construction project management? A systematic review from the perspective of transaction cost

PurposeBlockchain technology (BCT) is considered a promising tool to improve the productivity of construction project management. Existing research has studied its potential costs and benefits for the construction industry. However, the potential costs and benefits of BCT failed to be compared as actual costs and benefits of specific applications for stakeholders. To fill this gap, this study seeks to analyze the cost-effectiveness of BCT-based applications in construction project management.Design/methodology/approachThis study is conducted with a customized systematic literature review based on transaction cost theory to enable qualitative comparison. With a deliberately designed structure confining extraneous variables, the costs and benefits of BCT-based applications are identified and compared. The inherent dependent relations of processes and the evolution relations of functions are identified. The cost-effectiveness of blockchain adoption is then analyzed.FindingsSeven functions and six challenges are identified within five processes. The result suggests all identified functions are cost-effective except for manual instruction (coding smart contracts manually). The smart contracts require explicit definition and logic to be effective. However, the construction projects essentially require the institution to be flexible due to unpredictability. The adoption of smart contracts and corresponding additional requirements can increase the transaction cost of bounded rationality.Research limitations/implicationsAs manual instruction is fundamental to realize other functions, and its advanced substitute relies on its broad adoption, its cost-effectiveness must be improved for applications to be acceptable to stakeholders. The establishment of a universal smart contract model and a universal, legitimate and efficient database structure are recommended to minimize the cost and maximize the effect of applications.Originality/valueThis study contributes to the knowledge by providing a comprehensive analysis of BCT adoption’s cost-effectiveness in construction project management. The adopted review structure can be extended to analyze the qualitative benefits and challenges of management automation in the early stages.

Natural Language, Legal Hurdles: Navigating the Complexities in Natural Language Processing Development and Application

This article delves into the legal challenges faced in developing and deploying Natural Language Processing (NLP) technologies, focusing particularly on the European Union’s legal framework, especially the DSM Directive, the InfoSoc Directive, and the Artificial Intelligence Act. It addresses the legal status and accessibility of language data and the development of NLP technologies under both contractual and exception-based models. The authors acknowledge the partial truth in the saying, “US innovates, China replicates, and the EU regulates”. Although Europe’s AI sector is a global competitor and its strict regulations ensure ethical standards and data protection, these regulations might not necessarily boost competitiveness. Such stringent regulations can introduce complexities that may inhibit innovation relative to regions with more lenient policies.

Cross-border supply chain coordination of low-carbon agricultural products under the risk of supply uncertainty.

The purpose of this paper is to discuss how cross-border e-commerce enterprises can promote the sustainable development of the supply chain by optimizing the risk of supply disruption and product quality control mechanism of the cross-border supply chain of low-carbon agricultural products in the face of the problem of uneven quality and inventory shortage that prevails in the supply chain of low-carbon agricultural products under the framework of low-carbon economy. Methods: A two-level supply chain model consisting of a risk-averse cross-border e-commerce enterprise and two risk-neutral overseas suppliers is constructed to compare the optimal strategies and their coordination effects under the centralized and decentralized decision-making modes, and to deeply analyze the supply chain's operation mechanism. Further, the quality cost factor is introduced and an option contract model is designed to quantitatively analyze the impact of different decision-making scenarios and parameter changes on the overall supply chain performance. The results of the study show that under the coordination of option contract, the profit of cross-border e-commerce companies tends to decrease as the risk of supply disruption increases, while the profit of suppliers rises accordingly. Meanwhile, improving the quality of agricultural products can significantly improve the overall profitability of the supply chain. The cost-sharing mechanism is positively related to the profit of cross-border e-commerce companies, but negatively affects the profit of suppliers. In addition, the adjustment of the option price is directly associated with the increase of the specific supplier's profit and the decrease of the cross-border e-commerce enterprise's profit. Conclusion: By constructing and analyzing the option contract model considering the risk of supply disruption, this study effectively reveals the key influencing factors and their interactions in the cross-border supply chain of low-carbon agricultural products, and provides cross-border e-commerce enterprises with specific strategies to achieve coordination of the supply chain contract, improve product quality, and mitigate the risk of supply disruption, and then promote the sustainable development of the supply chain of low-carbon agricultural products.

Equilibria in matching markets with soft and hard liquidity constraints

We consider a one-to-one matching with contracts model in the presence of liquidity constraints on the buyer's side. Liquidity constraints can be either soft or hard. Competitive equilibria do exist in economies with soft liquidity constraints, but not necessarily in the presence of hard liquidity constraints. The limit of a convergent sequence of competitive equilibria in economies with increasingly stringent soft liquidity constraints may fail to be a competitive equilibrium in the limit economy with hard liquidity constraints. We establish equivalence and existence results for two alternative notions of competitive equilibrium, quantity-constrained competitive equilibrium and expectational equilibrium, together with stable outcomes and core outcomes, in economies with both types of liquidity constraints. We argue that these notions of equilibrium and stability do not suffer from discontinuity problems by showing appropriate limit results.

Robust dynamic contracts with multiple agents

We develop a continuous-time dynamic multi-agent contracting model in which the principal is unsure about the distributions of the project's terminal payoffs and worries about model misspecification. With model uncertainty, workers' wages depend on the outputs of other unrelated projects and the optimal contracts exhibit overdetermination. We demonstrate an inverse U-shaped relationship between the extent of overdetermination and group size. Moreover, model uncertainty induces wage compression, especially in small firms as the empirical evidence demonstrates. Finally, expanding the group size increases the average project value by mitigating the negative impacts of ambiguity.

Contract contingencies and uncertainty: Evidence from product market contracts

We study contingencies written in firms' material product market contracts, focusing on the theoretical prediction of uncertainty as an important determinant. We identify contract contingencies from firms’ public regulatory filings and examine the effects of general business uncertainty and specific innovation-related uncertainty. To enhance causal inference, we utilize two major business shocks (i.e., the 2008 Financial Crisis and the COVID pandemic) and the diffusion of 29 disruptive innovation shocks (Bloom et al., 2021). We also explore the effects of re-negotiation costs and writing costs. Overall, our empirical results are consistent with predictions from dynamic models of incomplete contracting.

Modeling of Actuation Force, Pressure and Contraction of Fluidic Muscles Based on Machine Learning

Modeling of Actuation Force, Pressure and Contraction of Fluidic Muscles Based on Machine Learning

State Formation and Bureaucratization: Evidence from Pre-Imperial China

This paper studies the relationship between military conflicts and state-building in pre-imperial China. I develop an incomplete contract model to examine rulers’ and local administrators’ incentives in conflict. Defensive wars drive decentralization: landowning local administrators have more to gain from a successful defense and are therefore more committed to it. Offensive wars drive centralization: the landowning ruler has personnel control over the non-land-owning local administrator and can therefore force the latter to participate in less lucrative attacks. Model predictions are corroborated with empirical evidence and historical case studies, and offer broader implications for the political divergence between China and Europe.

Момент заключения договора потребительского кредита

The article deals with the problem of determination of the moment of conclusion of a consumer credit agreement in comparison with a consumer loan agreement, and presents the results of the analysis of the conditions on the moment of conclusion of the agreement offered by Russian banks. The study showed that banks use both a consensual and a real contract model. The author answers the question of which model is acceptable.

Pilocarpine mediated excessive calcium accumulation leads to ciliary muscle cell senescence and apoptosis.

The ciliary muscle constitutes a crucial element in refractive regulation. Investigating the pathophysiological mechanisms within the ciliary muscle during excessive contraction holds significance in treating ciliary muscle dysfunction. A guinea pig model of excessive contraction of the ciliary muscle induced by drops pilocarpine was employed, alongside the primary ciliary muscle cells was employed in invitro experiments. The results of the ophthalmic examination showed that pilocarpine did not significantly change refraction and axial length during the experiment, but had adverse effects on the regulatory power of the ciliary muscle. The current data reveal notable alterations in the expression profiles of hypoxia inducible factor 1 (HIF-1α), ATP2A2, P53, α-SMA, Caspase-3, and BAX within the ciliary muscle of animals subjected to pilocarpine exposure, alongside corresponding changes observed in cultured cells treated with pilocarpine. Augmented levels of ROS were detected in both tissue specimens and cells, culminating in a significant increase in cell apoptosis in invivo and invitro experiments. Further examination revealed that pilocarpine induced an increase in intracellular Ca2+ levels and disrupted MMP, as evidenced by mitochondrial swelling and diminished cristae density compared to control conditions, concomitant with a noteworthy decline in antioxidant enzyme activity. However, subsequent blockade of Ca2+ channels in cells resulted in downregulation of HIF-1α, ATP2A2, P53, α-SMA, Caspase-3, and BAX expression, alongside ameliorated mitochondrial function and morphology. The inhibition of Ca2+ channels presents a viable approach to mitigate ciliary cells damage and sustain proper ciliary muscle function by curtailing the mitochondrial damage induced by excessive contractions.

The Mediating Role of Work Engagement in the Psychological Contract and Work Performance of Employees in Zhejiang E-Commerce Enterprises

In order to investigate the mechanism of psychological contract on work performance of employees in e-commerce enterprises, the theoretical model of psychological contract, work dedication and work performance is constructed based on social exchange theory and self-determination theory. By empirically analysing the questionnaires collected from 408 employees of e-commerce enterprises in Hangzhou, Wenzhou and Yiwu, Zhejiang Province, using Smart PLS 4 software, it was found that the psychological contract has a significant positive impact on the work performance of e-commerce enterprises' employees, and the degree of work engagement plays a partially intermediary role between the psychological contract and work performance. E-commerce enterprises need to improve employees' satisfaction with the fulfilment of the psychological contract, so as to ultimately improve employee engagement and achieve the ultimate goal of improving employee work performance.

Dual channel closed-loop supply chain coordination with exchange policy, sales efforts and green innovation under uncertain market

ABSTRACT This paper explores a dual-channel supply chain within an uncertain environment where a manufacturer produces a green product and a retailer makes sales efforts to attract a higher customer base. Moreover, we incorporate a reverse supply chain model in which the manufacturer retrieves end-of-used products from customers through a collection initiative. Simultaneously, the retailer gathers end-of-used products from customers by implementing an exchange policy facilitated through a coupon applied to the product’s selling price. Then, we explore centralized, manufacturer Stackelberg, option contracts and cost-sharing contracts strategies to maximize supply chain profits under various circumstances. Subsequently, a numerical example is undertaken to showcase the utility of the models and explore sensitivity that examines how different parameters impact the supply chain’s profit. Findings suggest that the supply chain members will be profitable if they engage in the option contract model under a suitable value of the option price and exercise price.

Pricing strategies for shared manufacturing platform considering cooperative advertising based on differential game.

Shared manufacturing is a new business form that focuses on all aspects of production and manufacturing, mainly relying on the shared manufacturing platform to achieve the optimal allocation of idle resources. For enterprises, in the process of deciding to lease idle resources, the pricing and advertising investment efficiency of the shared manufacturing platform is a valuable research issue. The shared manufacturing model in this paper consists of one manufacturer and one shared manufacturing platform, which will invest in cooperative advertising while the shared manufacturing process is completed. The cooperative advertising involves four models: the traditional cooperation model, the cost-sharing contract model, the revenue-sharing contract model, and the bilateral cost-sharing contract model. We investigate the impact of some key parameters on the prices and profits of the manufacturer and the shared manufacturing platform based on the differential game. The numerical examples demonstrate the viability of the model. Finally, we provide suggestions based on the decision-making of the manufacturer and the shared manufacturing platform under different cooperative advertising models.

Optimizing the management of inherited blood disorders in a changing market: Findings from the AMCP Market Insights Program.

In this market insights program, AMCP brought together a panel of experts representing various stakeholders: national and regional health plans, integrated health care systems, employer benefits groups, clinical experts, the Centers for Disease Control and Prevention, and patient advocacy organizations. The objectives were to gain insights into the current and evolving treatments in hemophilia, sickle cell disease, and β-thalassemia; measure the effects of recently approved therapies on clinicians, payers, and patients; recognize emerging trends within the stop-loss market; address potential issues and obstacles related to monitoring and reporting outcomes; and identify concerns associated with both existing and emerging contracting and reimbursement models. This article aims to summarize expert perspectives on health care system challenges and strategies concerning the management of inherited blood disorders and to advance managed care professionals' understanding of their role in supporting care for these patients. The experts emphasized that when shaping coverage policies, a patient-centered approach is crucial, focusing on preserving organ function to maintain eligibility for future gene therapies among individuals with inherited blood disorders. These strategies, including benefit design modifications, specialized provider networks, and centralized mechanisms like registries, are vital for evaluating effectiveness, facilitating decision-making, and managing costs and risks associated with new and emerging treatment options for inherited blood disorders.

Sorption kinetics of vermiculite-K2CO3 in thermochemical energy storage: Model evaluation and mechanism exploration

Thermal energy storage technology is crucial for building heating and domestic hot water supply, playing an essential role in optimizing energy utilization. Hydrated salts have emerged as prominent materials for thermochemical energy storage (TCES), with their sorption kinetics directly impacting thermal energy conversion efficiency. This study experimentally analyzes the microstructure and sorption performance of the EV/K2CO3 composite sorbent. Numerical analysis methods are employed to evaluate the validity of various sorption kinetics models and to elucidate the sorption mechanism and potential limitations of the composite sorbent. The findings indicate that EV can disperse K2CO3 salt particles while preserving a porous structure, thereby improving the sorption kinetics efficiency and stability of the EV/K2CO3 composite sorbent. At low relative pressure, EV/K2CO3 demonstrates a chemical adsorption mechanism, with nucleation models accurately predicting its sorption behavior, primarily limited by the nucleation and growth of hydrated salt crystals. At moderate relative pressure, EV/K2CO3 exhibits a mechanism involving both chemical adsorption and solution absorption, with diffusion models and the first-order model showing higher prediction accuracy, primarily limited by diffusion within or outside the product layer. At high relative pressure, EV/K2CO3 primarily undergoes solution absorption, with geometric contraction models and the first-order model displaying good predictive performance, primarily limited by the reaction phase interface. This study enhances comprehension of the sorption mechanism of the EV/K2CO3 composite, providing a scientific foundation for the development of high-performance TCES materials suitable for building and environmental applications.

FATWA DSN-MUI TERHADAP AKAD-AKAD DALAM LETTER OF CREDIT (L/C) IMPOR DAN EKSPOR SYARIAH

The existence of letter of credit which is really accordance with Islamic syariah principles has been waited by moslem bussinessmen who want to run their religion values in all their life. The conventional L/C has been existed is considered as on syariah L/C due to its practice still applicates the interest system. The regulation of L/C Syariah has been existed in Act No. 21/2008 concerning Perbankan Syariah, in article 19 p, and long before the act was born, the existence of L/C Syariah has been mentioned in Fatwa Dewan Syariah Nasional MUI NO.34/DSN-MUI/IX/2002 concerning L/C Impor Syariah and Fatwa Dewan Syariah Nasional MUI No. 35/DSNMUI/IX/2002 concerning L/C Ekspor Syariah. L/C Syariah can applicate some models of akads/contracts, such as : wakalah bil ujrah, qardh, murabahah, salam/istisna’, mudarabah, musyarakah, hawalah and al-bai’. From the variety of contract models which can be applicated to the L/C Syariah, wakalah bil ujrah and Murabahah are considered as the most efficient, safest, and the most minimum risky. Wakalah bil ujrah and Murabahah are also an aggreement that closest to the goal of L/C existence, that is: makes the international trade process become easier.

Instability in Computational Models of Vascular Smooth Muscle Cell Contraction

PurposeThrough their contractile and synthetic capacity, vascular smooth muscle cells (VSMCs) can regulate the stiffness and resistance of the circulation. To model the contraction of blood vessels, an active stress component can be added to the (passive) Cauchy stress tensor. Different constitutive formulations have been proposed to describe this active stress component. Notably, however, measuring biomechanical behaviour of contracted blood vessels ex vivo presents several experimental challenges, which complicate the acquisition of comprehensive datasets to inform complex active stress models. In this work, we examine formulations for use with limited experimental contraction data as well as those developed to capture more comprehensive datasets.MethodsFirst, we prove analytically that a subset of constitutive active stress formulations exhibits unstable behaviours (i.e., a non-unique diameter solution for a given pressure) in certain parameter ranges, particularly for large contractile deformations. Second, using experimental literature data, we present two case studies where these formulations are used to capture the contractile response of VSMCs in the presence of (1) limited and (2) extensive contraction data.ResultsWe show how limited contraction data complicates selecting an appropriate active stress model for vascular applications, potentially resulting in unrealistic modelled behaviours.ConclusionOur data provide a useful reference for selecting an active stress model which balances the trade-off between accuracy and available biomechanical information. Whilst complex physiologically motivated models’ superior accuracy is recommended whenever active biomechanics can be extensively characterised experimentally, a constant 2nd Piola-Kirchhoff active stress model balances well accuracy and applicability with sparse contractile data.

Optimal smart contracts for controlling the environment in electric vehicles based on an Internet of Things network

The scientific community has recently focused on intelligent models for predicting and optimizing EV energy management. Despite numerous studies in energy management optimization, there is a critical need to address the trade-off between energy consumption and occupant comfort. Existing IoT systems face challenges in data analytics security and authenticity, highlighting the need for contemporary models to overcome data privacy and cost-related issues. This study introduces a smart contract model based on optimization and control modules, aiming to manage energy consumption while satisfying user comfort requirements intelligently. Introducing a smart contract model with hierarchical layers—prediction, optimization, control, and Blockchain—the proposed approach intelligently manages energy consumption while meeting user comfort requirements. Utilizing a Kalman filter for prediction and the BAT algorithm for optimization, the model integrates modules to tailor user preferences and enhance comfort. The synergy between the optimization module and a convolutional FLC enhances system performance, ensuring minimized energy usage and elevated user comfort levels. The study also evaluates the model’s implementation of the Hyperledger Fabric network, assessing outcomes regarding caliper, latency, throughput, and resource utilization.