Ethics and OR: Operationalising Discourse Ethics

Operational researchers help managers decide what they ought to do and yet this is generally evaluated in terms of efficiency or effectiveness, not ethicality. However, the combination of the tremendous power of global corporations and the financial markets, and the problems the world faces in terms of economic and environmental sustainability, has led to a revival of interest in ethical approaches. This paper explores a relatively recent and innovative process called discourse ethics. This is very different from traditional ethical systems in taking ethical decisions away from individuals or committees and putting them in the hands of the actual people who are involved and affected through processes of debate and deliberation. The paper demonstrates that discourse ethics has strong connections to OR, especially in the areas of soft and critical systems, and that OR can actually contribute to the practical operationalisation of discourse ethics. At the same time, discourse ethics can provide a rigorous discursive framework for “ethics beyond the model"

Optimal co-adapted coupling for a random walk on the hyper-complete-graph

The problem of constructing an optimal co-adapted coupling for a pair of symmetric random walks on $Z_2^d$ was considered by Connor and Jacka (2008), and the existence of a coupling which is stochastically fastest in the class of all such co-adapted couplings was demonstrated. In this paper we show how to generalise this construction to an optimal co-adapted coupling for the continuous-time symmetric random walk on $K_n^d$, where $K_n$ is the complete graph with $n$ vertices. Moreover, we show that although this coupling is not maximal for any $n$ (i.e. it does not achieve equality in the coupling inequality), it does tend to a maximal coupling as $n\to\infty$.Comment: 20 pages, 1 figur

Modeling of Non-equilibrium Processes in Oil Trunk Pipeline Using Godunov Type Method

AbstractThe Article presents the numerical method of solving the system of one-dimensional non-stationary equations describing oil movement in the oil pipeline. The method is aimed at modeling the non-equilibrium and transitional processes in the oil pipelines in the normal and emergency modes. This new developed method can be applied for relaxation non-equilibrium flow case, that can’t be modeling using another methods. Also this method is aimed at modeling the non-equilibrium and transitional processes in the liquefied hydrocarbon pipelines in the normal and emergency modes. Phase non-equilibrium flow is considered for boiling liquids transporting pipeline

Essays On Decentralized Financial Markets

In the first chapter, To Pool or Not to Pool? Security Design in OTC Markets with Vincent Glode and Christian C. Opp, we study security issuers\u27 decision whether to pool assets when facing counterparties endowed with market power, as is common in over-the-counter markets. Unlike in competitive markets, pooling assets may be suboptimal in the presence of market power --- both privately and socially --- in particular, when the potential gains from trade are large. In these cases, pooling assets reduces the elasticity of trade volume in the relevant part of the payoff distribution, exacerbating inefficient rationing associated with the exercise of market power. Our results shed light on recently observed time-variation in the prevalence of pooling in financial markets. In the second chapter, Selling to Investor Network: Allocations in the Primary Corporate Bond Market, I develop a model of the primary market for corporate bonds, in which an issuer optimally chooses an issuance price and allocations to investors based on their trading connections in the secondary over-the-counter market. Expected secondary market liquidity, which depends on the structure of the trading network in this market, determines investors\u27 demands in the primary market and, in turn, the issuer\u27s revenues. I show that trading by less connected investors has a relatively high negative impact on expected secondary market liquidity and disproportionately reduces the demands of all investors in the primary market. As a result, the issuer can increase her profits by restricting allocations of new bonds only to more connected investors. This explains the commonly observed exclusion of small institutional investors from the primary market, which is often coupled with seemingly underpriced bonds. In the third chapter, Initial Coin Offerings as a Commitment to Competition with Itay Goldstein and Deeksha Gupta, we model Initial Coin Offerings (ICOs) of utility tokens, which are increasingly used to finance the development of online platforms where buyers and sellers can meet to exchange services or goods. Utility tokens serve as the sole medium of exchange on a platform and can be traded in a secondary market. We show that such a financing mechanism allows an entrepreneur to give up monopolistic rents associated with the control of the platform and make a credible commitment to long-run competitive prices. The entrepreneur optimally chooses to have an ICO, rather than operate as a monopolist, only if future consumers of the platform participate in financing. ICOs, therefore, endogenously require crowd-funding to be viable

Mistakes and quasi mistakes in applying the criminal law: causes and consequences

Objective: to identify the causes of mistakes and quasi-mistakes in applying criminal law; to establish consequences of un- substantiated illegal law-enforcement decisions made by interrogators, investigators, prosecutors, and judges due to mistakes and quasi-mistakes; to elaborate proposals aimed at preventing these mistakes and quasi-mistakes.Methods: analytical, dialectical, dogmatic, documentary, logical, practical, and systematic.Results: the concepts of “mistake in applying criminal law” and “quasi-mistake in applying criminal law” are defined; the causes of the mentioned mistakes and quasi-mistakes are identified; the most harmful consequences are identified, which are related to unsubstantiated illegal law-enforcement decisions made by interrogators, investigators, prosecutors, and judges due to mistakes and quasi-mistakes at law-enforcement and managerial levels of implementing the criminal legal policy of the state; the proposals are formulated to enshrine in the legislation the duty of the law enforcement officer to be responsible for a mistake or quasi-mistake in decision-making and for the negative consequences that have arisen, as well as the proposal to exclude such a duty due to objective circumstances.Scientific novelty: the article for the first time a) defines the concept of “a mistake in applying criminal law” as a neglect in the investigative and judicial practice, inaccuracy, distortion, flaw when classifying a deed under the criminal law, as well as when using the criminal legal measures. Also, b) the author gives the definition of “a quasi-mistake in applying criminal law” as a deliberate making of an illegal, unsubstantiated decision. The reasons of the mentioned mistakes or quasi-mistakes are identified: a) complexity of the specific situations that must be overcome by applying the criminal law; b) low professional level of law enforcers; c) negligence in carrying out the investigation/judicial proceedings due to personal qualities, disruption of work, excessive workload; d) impact on decision making of conjuncture circumstances, opinions/orders of the law-enforcement body’s authority, other officials or other persons. The most harmful consequences of unsubstantiated illegal law-enforcement decisions made by law-enforcers due to mistakes and quasi-mistakes are identified: a) devaluation of the criminal law; b) degradation of the investigative and judicial system; c) the loss of people’s faith in the validity of the state authorities’ decisions, decency of the authorities, and justice.Practical significance: the main provisions and conclusions should be used to improve the investigative and judicial activities at law-enforcement and managerial levels when implementing the criminal law policy of the state

Review of an official opponent on the doctoral (Law) thesis by I. A. Efremova “Exemption institution in the criminal law theory and legislative and judicial practice”, majoring 12.00.08

Objective: to assess the completeness and quality of the dissertation research carried out by I. A. Efremova on “Institute of exemption from punishment in the theory of criminal law, legislative and judicial practice”.Methods: dialectical approach to cognition of social phenomena, allowing to analyze them in their historical development and functioning, which contributed to applying the following research methods: logical, formal-legal, system, analytical, comparative-legal, sociological.Results: the theoretical model of convicts release from criminal punishment formed by the author is analyzed; the assessment is given of the regularities, tendencies and dependences established by the applicant, and of the new knowledge on the institute of release from criminal punishment and its norms.Scientific novelty: the advantages and disadvantages of the dissertation research are revealed; it is established that the dissertation research is an independent, complete scientific and qualification work, representing an advance in science and making a significant contribution to the development of the criminal policy of the state, including the doctrine of exemption from punishment.Practical significance: the main provisions and conclusions set out in the review can be used in scientific, pedagogical, law- making, and law-enforcement activities when considering the application and improvement of the institution of exemption of convicts from criminal punishment

Complex processing of high-carbon ash and slag waste

The paper considers a current issue of ash and slag processing for the Polyus Aldan JSC, that has accumulated over 1 million tons of this waste. Following the results of the review of Russian and foreign literature, four promising areas of their use were selected: road construction, building materials, reclamation of disturbed lands, and inert aggregates. To assess the possibility of implementing the selected disposal directions, the samples of ash and slag waste of the enterprise were sampled and analyzed. Fuel characteristics, chemical and mineral composition, as well as physico-chemical and mechanical properties of waste were determined. Taking into account the results of complex laboratory studies and the requirements of regulatory documents, each of the selected areas of using ash and slag waste was evaluated. It was found that their disposal by traditional methods has limitations, mainly related to the high content of unburned fuel residues. The high content of combustible substances and the high specific heat of combustion with a relatively low ash content suggested the possibility of thermal disposal of the studied waste. Based on the literature data, the characteristics of the preparation of organic coal-water suspensions based on the studied ash and slag waste were selected. As a result of a series of experiments on their flaring, the expediency of using the obtained fuel at the enterprise under consideration has been proved. The authors note the possibility of using ash obtained after thermal waste disposal in the road construction industry. The prospects for further research of technologies for the preparation and combustion modes of suspension fuel based on ash and slag waste are determined