A PROFIT-MAXIMIZATION MODEL FOR A RETAILER'S STOCKING DECISIONS ON PRODUCTS SUBJECT TO SUDDEN OBSOLESCENCE

A product has been formally denned as being subject to sudden obsolescence if its lifetime is negative exponentially distributed. Using an approximate model, Masters suggested that the traditional method of incorporating obsolescence cost as a component of inventory holding costs in the economic order quantity (EOQ) model was appropriate-for products subject to sudden obsolescence, provided that the obsolescence cost component was computed properly. Unfortunately, current practice of the EOQ model seriously underestimates the costs of sudden obsolescence. An exact model demonstrating that Masters' model also underestimated true lifetime costs and overestimated the optimal order quantity has been presented. Neither of these models addressed quantity discounts. Furthermore, with their cost-minimization focus, these models fail to identify situations when minimized costs exceed expected revenues. We extend Joglekar and Lee's model to focus on maximizing profits, rather than minimizing costs. This model answers such questions as whether to stock the product at all, whether to accept a quantity discount offer, and what order quantity to use. Numerical examples and sensitivity analyses suggest that Masters' model provides a significant improvement over the traditional model in moving toward true optimality. However, they also illustrate situations where both the traditional and the Masters' model accept a quantity discount that deserves to be rejected and stock a product that should not be stocked. In such situations, it seems important that a retailer uses the profit-maximization model presented here.     

Pathways from workplace flexibility to turnover intention: Role of work–family conflict,family–work conflict,and job satisfaction

This study examined the prevalence of workplace flexibility and the mechanisms that allow workplace flexibility to influence turnover intentions through work–family and family–work conflicts and job satisfaction among low‐wage workers in South Korea. Participants included 250 low‐wage workers whose monthly salary was less than 2 million Korean won (approx. $1,900). The study results indicate that low‐wage workers have limited access to workplace flexibility and that workplace flexibility plays a significant protective role in reducing their turnover intention, indirectly by decreasing work–family conflicts and enhancing job satisfaction. This article also discusses the implications of these findings for labor policy and social work practice.     

Impact of older adults' mobility and social participation on life satisfaction in South Korea

South Korea has been experiencing rapid population aging. In an aging society, the need for healthy lives is greater. Two of the fundamental factors to enable independent and active life for the elderly are mobility and social participation. The purpose of this study was to examine the relationship between older adults’ mobility, social participation, and quality of life in South Korea. We used data from the 2017 National Survey of Older Koreans conducted by the Ministry of Health and Welfare and the Korea Institute for Health and Social Affairs and applied hierarchical regression. The major finding was that older adults’ mobility had a positive impact on their life satisfaction. After controlling for older adults’ mobility, social participation was positively associated with life satisfaction regardless of the place of residence. The findings of this study not only make a valuable contribution to further research on mobility and social participation but also provide new insight into improving older adults’ quality of life.     

How School Contexts Shape the Relations Among Adolescents’ Beliefs,Peer Victimization,and Depressive Symptoms

The present research examined how school contexts shape the extent to which beliefs about the potential for change (implicit theories) interact with social adversity to predict depressive symptoms. A preregistered multilevel regression analysis using data from 6,237 ninth‐grade adolescents in 25 U.S. high schools showed a three‐way interaction: Implicit theories moderated the associations between victimization and depressive symptoms only in schools with high levels of school‐level victimization, but not in schools with low victimization levels. In high‐victimization schools, adolescents who believed that people cannot change (an entity theory of personality) were more depressed when they were victimized more frequently. Thus, the mental health correlates of adolescents’ implicit theories depend on both personal experiences and the norms in the context.     

明末清初民间宗教的民族观析论--以《冬明历》为例

<冬明历>是明清时代流传较广、影响较大的民间宗教经书之一,其史料价值弥足珍贵.很长一个时期以来,由于<冬明历>的完整版本一直未被发现,因此对于该书的具体内容和性质,学界多有不识,偶有论及者,或失之偏颇,或流入想像和臆测.本文主要以新近发现的抄本<冬明历>为第一手材料,考察了<冬明历>一书的基本结构及其相关问题,并在明末清初民族冲突的大背景下,重点探讨了民间宗教"夷夏之辨"、反清复明、帝王观的流变与满汉混同等相关问题,为更加深入、全面地认识明末清初的民族与宗教问题提供一种新的研究视角.     

Noninformative priors for the between-group variance in the unbalanced one-way random effects model with heterogeneous error variances

For the unbalanced one-way random effects model with heterogeneous error variances, we propose the non-informative priors for the between-group variance and develop the first- and second-order matching priors. It turns out that the second-order matching priors do not exist and the reference prior and Jeffreys prior do not satisfy a first-order matching criterion. We also show that the first-order matching prior meets the frequentist target coverage probabilities much better than the Jeffreys prior and reference prior through simulation study, and the Bayesian credible intervals based on the matching prior and reference prior give shorter intervals than the existing confidence intervals by examples.     

Small‐sphere distributions for directional data with application to medical imaging

We propose novel parametric concentric multi‐unimodal small‐subsphere families of densities for p ? 1 ≥ 2‐dimensional spherical data. Their parameters describe a common axis for K small hypersubspheres, an array of K directional modes, one mode for each subsphere, and K pairs of concentrations parameters, each pair governing horizontal (within the subsphere) and vertical (orthogonal to the subsphere) concentrations. We introduce two kinds of distributions. In its one‐subsphere version, the first kind coincides with a special case of the Fisher–Bingham distribution, and the second kind is a novel adaption that models independent horizontal and vertical variations. In its multisubsphere version, the second kind allows for a correlation of horizontal variation over different subspheres. In medical imaging, the situation of p ? 1 = 2 occurs precisely in modeling the variation of a skeletally represented organ shape due to rotation, twisting, and bending. For both kinds, we provide new computationally feasible algorithms for simulation and estimation and propose several tests. To the best knowledge of the authors, our proposed models are the first to treat the variation of directional data along several concentric small hypersubspheres, concentrated near modes on each subsphere, let alone horizontal dependence. Using several simulations, we show that our methods are more powerful than a recent nonparametric method and ad hoc methods. Using data from medical imaging, we demonstrate the advantage of our method and infer on the dominating axis of rotation of the human knee joint at different walking phases.     

The UN Global Compact for Safe,Orderly and Regular Migration: Its Impact on Asia

This article focuses on the Global Compact for Safe, Orderly and Regular Migration (GCM), a landmark international document that builds on the momentum of a decade of initiatives at the international level on migration governance, and its impact on Asia from the perspective of South Asia, Southeast Asia, China, and South Korea. While none of these countries voted against the adoption of the GCM, there are significant differences in how individual countries approached the commitments made in the GCM. These perspectives were articulated in a webinar hosted by Metropolis Asia on 20 June 2018 and in governmental statements made at the UN international conference when the GCM was adopted. This article also discusses the challenges confronting the implementation of the GCM. While the Compact resulted from inclusive and intensive negotiations and many compromises, the road towards realizing its goals will be at least as challenging as the road that led to its adoption. In spite of these challenges, the GCM is a ground‐breaking representation of the first multilateral framework for migration governance. Its success rests upon the recognition that addressing the challenges and maximizing the benefits of migration require true international cooperation, renewed commitment and meaningful action on the commitments agreed to.