Social and Behavioral Sciences Commons^™

Routing Policy Choice Prediction In A Stochastic Network: Recursive Model And Solution Algorithm, Tien Mai, Xinlian Yu, Song Gao, Emma Frejinger

Research Collection School Of Computing and Information Systems

We propose a Recursive Logit (STD-RL) model for routing policy choice in a stochastic time-dependent (STD) network, where a routing policy is a mapping from states to actions on which link to take next, and a state is defined by node, time and information. A routing policy encapsulates travelers’ adaptation to revealed traffic conditions when making route choices. The STD-RL model circumvents choice set generation, a procedure with known issues related to estimation and prediction. In a given state, travelers make their link choice maximizing the sum of the utility of the outgoing link and the expected maximum utility until …

Emergency Procurement And Responses To Covid-19: The Case Of Singapore, Henry S. Gao

Research Collection Yong Pung How School Of Law

As one of the busiest trade and travel hubs in the world, Singapore quickly became the worst affected of all countries by COVID-19 in the very early stages of the pandemic. For example, on 5 February 2020, two weeks after the unprecedented lockdown in Wuhan by the Central Government of China, Singapore had the highest infection rate (24 cases out of a population of 5 million) in the world, higher than China (20,502 cases out of a population of 1.5 billion).1 Alongside the health emergency, Singapore also had to cope with another emergency as countries around the world, in a …

Choice Of Law For Formation Of Contracts: Solomon Lew V Kaikhushru Shiavax Nargolwala, Adeline Chong

Research Collection Yong Pung How School Of Law

No abstract provided.

Precision Public Health Campaign: Delivering Persuasive Messages To Relevant Segments Through Targeted Advertisements On Social Media, Jisun An, Haewoon Kwak, Hanya M. Qureshi, Ingmar Weber

Research Collection School Of Computing and Information Systems

Although established marketing techniques have been applied to design more effective health campaigns, more often than not, the same message is broadcasted to large populations, irrespective of unique characteristics. As individual digital device use has increased, so have individual digital footprints, creating potential opportunities for targeted digital health interventions. We propose a novel precision public health campaign framework to structure and standardize the process of designing and delivering tailored health messages to target particular population segments using social media–targeted advertising tools. Our framework consists of five stages: defining a campaign goal, priority audience, and evaluation metrics; splitting the target audience …

How Xiaomi Redefined What It Means To Be A Platform, Tony W. Wong, Yanting Guo, Liang Chen

Research Collection Lee Kong Chian School Of Business

Traditional platform businesses generally fall into one of two categories: Ecosystems, such as Apple’s App Store, which offer limited resources to a wide array of independently-run firms; and Corporate Venture Capital (CVC) companies, such as Intel Capital, which invest heavily into a small number of ventures that promise either financial or strategic returns. However, new research into Xiaomi’s growth strategy suggests that the Beijing-based electronics giant has developed a blended approach, borrowing elements of both traditional ecosystem and CVC firms to create a broad ecosystem of strongly-supported partner ventures. Based on a series of in-depth interviews with executives from both …

Urban Governance And Electricity Losses: An Exploration Of Spatial Unevenness In Karachi, Pakistan, Ijlal Naqvi, Ate Poorthuis, Anirudh Govind

Research Collection School of Social Sciences

The inadequate supply of electricity in Pakistan disrupts everyday life and hampers industry and business; in this it is an emblematic indicator of the poor quality of urban governance pervasive in much of the Global South. We focus on the governance of Karachi’s electricity distribution system, and its spatial unevenness across this sprawling metropolis of 15 million residents which encompasses huge informal settlements alongside upscale housing and commercial plazas. Using a dataset with granular, neighborhood-level electricity data, we apply spatial and statistical modeling techniques to understand how transmission and distribution losses, i.e., the utility’s ability to bill for the electricity …

Common Executive Function Predicts Reappraisal Ability But Not Frequency, Wei Xing Toh, Hwajin Yang

Research Collection School of Social Sciences

Cognitive reappraisal is an emotion-regulation strategy that positively impacts various facets of adaptive functioning (e.g., interpersonal relations, subjective well-being). Although reappraisal implicates cognitive processing, no clear consensus has been reached regarding its cognitive correlates. Therefore, we examined how executive function (EF)-i. e., a group of general-purpose control abilities comprising working memory, inhibition, and shifting-would be associated with task-based reappraisal ability and self-reported reappraisal frequency. Using a latent-variable approach, we found that the shared variance among EF facets (i.e., common EF)-a general goal-management ability that facilitates the activation and maintenance of task-relevant goals-was positively related to reappraisal ability but not reappraisal …

How To Assess Regional Trade Agreements? Deep Ftas V. China’S Trade Agreements, Heng Wang

Research Collection Yong Pung How School Of Law

Regional trade agreements are undergoing many changes. Notably, the trajectory of China’s trade agreements has been affected by the unique US-China Phase One agreement, and these agreements extend beyond free trade agreements (FTAs). China’s trade agreements represent a different path forward from that mapped out by deep FTAs (e.g., the CPTPP) in respect of the future of trade law. This paper analyses two crucial but underexplored questions: What are the approaches behind deep FTAs and China’s trade agreements? How can we assess trade agreements (particularly China’s trade agreements)?The article critically reviews China’s trade agreements and deep FTAs. Based on in-depth …

Covid-19 And The 2020/21 International Moots Season, Siyuan Chen

Research Collection Yong Pung How School Of Law

This is the seventh annual review of Singapore’s performance in international moot court competitions. While the previous season already felt the ravaging effects of the pandemic, it was more of the same this season, although this time round, all the major competitions were prepared to go online.

A Clarion Call For Businesses To Do Right, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

Prime Minister Lee Hsien Loong's National Day Rally on Sunday signalled a putative shift in the government's policy towards tackling workplace discrimination and supporting lower-wage workers. While the tripartite approach remains the bedrock in industrial relations, the government is prepared to adopt a more muscular approach through regulation by legislation. Businesses must recognise the concerns of workers amid the unpredictable arc of the global pandemic. It cannot be business as usual.

Sporting Excellence And Ns: Abiding Principles For Rite Of Passage For Singaporean Sons, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary, SMU Associate Professor of Law Eugene Tan discussed how strict criteria for long-term national service (NS) deferment are necessary and fair to preserve universality and equity for all national servicemen, and must be applied without fear or favour. He explained the principles undergirding NS and gave examples of athletes achieving sporting excellence alongside fulfilling NS duties.

Singapore: National Report For The Global Access To Justice Project, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

Global Access to Justice Project is gathering the very latest information on the impact of the world’s major justice systems, analyzing legal, economic, social, cultural and psychological barriers that prevent or inhibit many, and not only the poor, from entering and using the legal system. The country report for Singapore follows the common framework provided by the Global Access to Justice Project Questionnaire.

Liability Of Maker Towards Subject Of Negligent Statement: Tan Woo Thian V Pricewaterhousecoopers, Kee Yang Low, Sheena Xuan Hui Heng

Research Collection Yong Pung How School Of Law

Negligent misstatement cases typically involve claims by the recipient of the statement. Since Spring v Guardian Assurance, there has been an increasing number of cases where the plaintiff is the subject of the negligent misstatement, which is quite a very different matter. In Tan Woo Thian v PricewaterhouseCoopers Advisory Services Pte Ltd, Singapore’s High Court and Court of Appeal consider the legal intricacies of such a claim.

On The Market Failure Of “Missing Pioneers”, Shang-Jin Wei, Ziru Wei, Jianhuan Xu

Research Collection School Of Economics

An influential hypothesis states that export pioneers are too few relative to social optimum because the first exporter's action creates an informational public good for all subsequent exporters. The hypothesis has been invoked to justify certain types of government interventions. We note, however, that such market failure requires two inequalities to hold simultaneously: the discovery cost is neither too low nor too high. Neither has to hold in the data. We propose a structural estimation framework to evaluate the hypothesis, and estimate the parameters based on the customs data of Chinese electronics exports. Our key finding is that "missing pioneers" …

Achieving Price Stability, Hwee Kwan Chow, Taojun Xie

Research Collection School Of Economics

The aim of delivering medium-term price stability is the stated objective of the Monetary Authority of Singapore. To this end, the central bank adopted an unusual exchange rate–based monetary policy framework that has served the economy well over the past decades. However, the shift from the phase of catch-up growth to a mature economy raises the question of whether the current monetary policy framework needs reformulation. Moreover, as global financial integration deepens, surges in cross-border capital flows impact Singapore’s exchange rate and asset prices, which has implications for economic dynamism and inclusion. Since a large and persistent deviation of the …

Rationalizable Implementation In Finite Mechanisms, Y-C Chen, Takashi Kunimoto, Y Sun, S. Xiong

Research Collection School Of Economics

We prove that the Maskin monotonicity condition (proposed by Bergemann et al. (2011)) fully characterizes exact rationalizable implementation in an environment with lotteries and transfers. Different from previous papers, our approach possesses many appealing features simultaneously, e.g., finite mechanisms with no integer game or modulo game are used; no transfers are made in any rationalizable profile; the message space is small; the implementation is robust to information perturbations in the sense of Oury and Tercieux (2012).

Providing Childcare, Christine Ho, Sunha Myong

Research Collection School Of Economics

Women’s economic empowerment has been hailed as one of the most remarkable revolutions in the past 50 years. Yet, women still face the lion’s share of the burden of childcare despite major progress in their education and earnings capacity. This is particularly salient in many Asian countries. This chapter proposes a synthesis of the state of knowledge on childcare and discusses policy-relevant issues applicable to the Singapore context. Selected policies are documented and lessons from the international landscape are discussed. Raising children incurs both direct costs in the form of childcare and opportunity costs in the form of career costs. …

Entrepreneurship In Singapore, Jungho Lee

Research Collection School Of Economics

Singapore has completed its catch-up growth phase and needs to find a new growth engine. Entrepreneurship can contribute to a nation’s productivity growth. The purpose of this chapter is twofold. First, a theoretical framework is presented, along with empirical evidence, to understand government interventions aimed at boosting entrepreneurship. Second, using the framework, the chapter discusses whether Singapore’s current policies are suitable for helping entrepreneurship. The theory demonstrates four reasons why government intervention is needed: (1) resource misallocation, (2) positive externality, (3) entrepreneurial human capital, and (4) tax and default policies. Singapore’s government has implemented various policies that potentially fix market …

Equal-Quantile Rules In Resource Allocation With Uncertain Needs, Yan Long, Jay Sethuraman, Jingyi Xue

Research Collection School Of Economics

A group of agents have uncertain needs on a resource, which must be allocated before uncertainty re-solves. We propose a parametric class of division rules we call equal-quantile rules. The parameter lambda of an equal-quantile rule is the maximal probability of satiation imposed on agents - for each agent, the prob-ability that his assignment is no less than his realized need is at most lambda. It determines the extent to which the resource should be used to satiate agents. If the resource is no more than the sum of the agents' lambda-quantile assignments, it is fully allocated and the rule …

Doubling Down On Asia, Olivier Lim, Arif P. Rachmat, David Su

Perspectives@SMU

COVID-19 has inflicted major pain on Asian economies but the effects on countries and sectors are not uniform. The tech sector in China could yet present investment opportunities

Innovating In The Digital Economy, Arnoud De Meyer

Perspectives@SMU

It is all about creating and capturing value, building networks, and scaling up quickly

Combating Digital Piracy In China And Its Unintended Side Effects, Singapore Management University

Perspectives@SMU

Research shows a reduction in online piracy in China’s digital publishing sector boosted creative production but also reduced writers’ efforts in engaging with readers

Why The Workplace Chameleon Is A Paradox For Diversity And Inclusion, Singapore Management University

Perspectives@SMU

Do employees need to be like chameleons to survive certain corporate cultures, despite the best efforts of diversity and inclusion initiatives?

Secure Self-Checkout Kiosks Using Alma Api With Two-Factor Authentication, Ron Bulaon

Research Collection Library

Self-checkout kiosks have become a staple feature of many modern and digitized libraries. These devices are used by library patrons for self-service item loans. Most implementations are not new, in fact many of these systems are simple, straight forward and work as intended. But behind this useful technology, there is a security concern on authentication that has to be addressed.

In my proposed presentation, I will discuss the risk factors of self-checkout kiosks and propose a solution using Alma APIs. I will address the technical shortcomings of the current implementations, compared to the proposed solution, and where the weakest link …

Skbi Big 5 Survey 2021 August, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The latest survey results convey an upshift in growth projections of the five largest economies in aggregate accompanied by higher inflation, especially this year and to a lesser extent next year. The aggregate “Big5” median real GDP growth projections for 2021 and 2022 were raised to 6.7% (up in US, CN and EA but down in IN and JP) and 4.9% (all except US), respectively. The overall “Big5” median CPI inflation forecasts were nudged up to 2.6% (higher in US, IN and EA but lower in CN) and 2.4% (in US, IN and EA some), respectively, for this year and …

Up Close And Personal With Mr Sundar Selvam: Hitting Zero Targets, Sundar Selvam

Oral History Collection

He might not be one you would have come across on campus. And not one you might read much about in SMU news or in the limelight for its achievements, preferring to remain in the background. But look around the SMU campus and you will see the fruits of his work and that of his team. Meet Sundar, SMU’s Vice-President for Campus Infrastructure and Services. Since January 2015, he has been at the forefront of driving SMU’s own sustainability journey which has resulted in several “firsts”. This interview was published in the August edition of SMU CIRCLE.

Different Strokes For Different Folks: Long Memory And Roughness, Shuping Shi, Jun Yu

SMU Economics and Statistics Working Paper Series

The log realized volatility of financial assets is often modeled as an autoregressive fractionally integrated moving average model (ARFIMA) process, denoted by ARFIMA(p, d, q), with p = 1 and q = 0. Two conflicting results have been found in the literature regarding the dynamics. One stream shows that the data series has a long memory (i.e., the fractional parameter d > 0) with strong mean reversion (i.e., the autoregressive coefficient |α1| ≈ 0). The other stream suggests that the volatil-ity is rough (i.e., d < 0) with highly persistent dynamic (i.e., α1 → 1). To consolidate the findings, this paper first examines the finite sample properties of alternative estimation methods employed in the literature for the ARFIMA(1, d, 0) model and then applies the outperforming techniques to a wide range of financial assets. The candidate methods include two parametric maximum likeli-hood (ML) methods (the maximum time-domain modified profile likelihood (MPL) and maximum frequency-domain likelihood) and two semiparametric methods (the local Whittle method and log periodogram estimation method). The two parametric methods work well across all parameter set-tings, with the MPL method outperforming. In contrast, the two semiparametric methods have a very large upward bias for d and an equally large downward bias for α1 when α1 is close to unity. The poor performance of the semiparametric methods in the presence of a highly persistent dynamic might lead to a false conclusion of long memory. In the empirical applications, we find that the log realized volatilities of exchange rate futures over the past decade have a long memory, where the point estimate of d is between 0.4 and 0.5 and the estimate of α1 is near zero. For other finan-cial assets considered (including stock indices and industry indices), we find that they have rough volatility, with the point estimate of d being negative and the point estimates of α1 close to unity.

Efficient Bilateral Trade Via Two-Stage Mechanisms Under One-Sided Asymmetric Information, Takashi Kunimoto, Cuiling Zhang

SMU Economics and Statistics Working Paper Series

This paper considers a bilateral-trade model with one-sided asymmetric information in which one agent (seller) initially owns an indivisible object and is fully informed of its value, while the other agent (buyer) intends to obtain the object whose value is unknown to himself. As Jehiel and Pauzner (2006) show that no mechanisms can generally result in efficient, voluntary bilateral trades, we aim to overturn this impossibility result by employing two-stage mechanisms (Mezzetti (2004)) in which first, the outcome (e.g., allocation of the goods) is determined, then the agents observe their own outcome-decision payoffs, and finally, transfers are made. We show …

Celebrating A Milestone: 20th Anniversary Achievement Highlights [School Of Accountancy], Singapore Management University

SMU Corporate Reports

The book “Celebrating a Milestone 20^th Anniversary Achievement Highlights” was published in August 2021 to commemorate SoA’s 20^th Anniversary as well as the 15^th Anniversary of the Master of Professional Accounting Programme. The book documents the achievements and key milestones in SoA’s history.

Monetary Policy Surprises, Stock Returns, And Financial And Liquidity Constraints, In An Exchange Rate Monetary Policy System, John M. Sequeira

Research Collection Lee Kong Chian School Of Business

This study examines the impact of monetary policy surprises on the stock price behaviour of a small developed economy, whose monetary policy is based on the exchange rate. We find that monetary policy surprises associated with all contractionary policy levers and a neutral policy lever, have a consistently significant and negative impact on stock returns. In comparison, only monetary policy surprises associated with a downward re-centering policy lever, has a significantly positive effect on stock returns. Using a recalibrated classification system, we also find that monetary policy surprises differ across sectors of the economy. Our results show how monetary policy …