Abstract : In this paper, we propose a new approach for generating a customized forecast ensemble that considers the user\'s preferences across multiple criteria. The proposed algorithm takes inputs from the user and computes a set of optimal weights assignable to the n chosen criteria. Using these weights, we define a metric called the Multi-Criteria Value, which is maximized to obtain the customized ensemble. This algorithm is called Adaptive Ensemble Generator since it incorporates m distinct forecasting methods and n evaluation criteria. We demonstrate this algorithm customized
for four different users (three real-life users and one designed user) on a large database.
Towards an Integrated Framework for Resolving Ethical Dilemmas
Gandhi, Manan; Gupta, Vishal
Title : Towards an Integrated Framework for Resolving Ethical Dilemmas
Authors : Gandhi, Manan; Gupta, Vishal
Publication Date : 29-Jun-2022
Year : 2022
Publication Code : WP 2022-06-03
Abstract : The present paper proposes an integrated approach to resolving life\'s ethical dilemmas. First, it refines the set of fundamental ethical values, which will help discard the confirmed unethical choices and exhaustively contain all the different prospects of acts that can be deemed ethical from different viewpoint. Further, it comprehensively enunciates the different types of ethical dilemmas that could be generated out of the conflict between the elemental values of the set of fundamental ethical values. Finally, it contributes a framework to resolve the dilemma that caters to the different possibilities of conflict generation and exhaustively settles them.
Impact of COVID-19 disruptions on the Supply Chain:Insights from India
Shrey, Apurva; Dutt, Avi; Roy, Debjit
Title : Impact of COVID-19 disruptions on the Supply Chain:Insights from India
Authors : Shrey, Apurva; Dutt, Avi; Roy, Debjit
Publication Date : 03-Jun-2022
Year : 2022
Publication Code : WP 2022-06-01
Abstract : Supply Chains play very important role in driving the economy of the country. COVID-19 pandemic and subsequent lockdowns have disrupted the supply chains of various firms. It has been estimated that the total cost of supply chain disruption due to COVID-19 and geopolitical tensions is around $4 Trillion for US and European firms (Total Cost of Supply Chain Disruption, n.d.). This cost highlights the need to study the impact of COVID-19 on the supply chain function of companies and explore the efforts made by the firms to mitigate the same. The objective of the paper is to examine the disruptions caused by COVID-19 pandemic in value chains of different sectors. It further aims to bridge the gap between the approach taken by the industry practitioners to mitigate the challenges faced by the COVID-19 pandemic and research work carried out by the academicians. The study examines the challenges faced by the industry and suggest opportunity areas where research can support efforts in industry to improve supply chain resilience.
Exploring the Role of IoT in Worker Safety and Productivity
Goyal, Tarini; Roy, Debjit
Title : Exploring the Role of IoT in Worker Safety and Productivity
Authors : Goyal, Tarini; Roy, Debjit
Publication Date : 03-Jun-2022
Year : 2022
Publication Code : WP 2022-06-02
Abstract : This paper analyses the role of the Internet of Things in increasing worker safety and productivity as well as improving performance appraisal methods in the factory setup. Analysis of productivity levels has been carried out for workers in a steel plant on the basis of data collected from IoT tags. The study depicts how IoT can allow workers to perform tasks smoothly in their respective areas of expertise, along with a robust system of communication. By preventing accidents and boosting productivity, a win-win situation is created for workers and their families, as well as for factory owners and their clients.
Abstract : The cow#, in the Indian context, has been the backbone of our agricultural economy since the early age of human civilization. Our agriculture-based economy thrived alongside cow welfare; thanks to a bounty of natural gifts such as dairy products, manure, crops, vegetables, fruits, and medicinal and natural products derived from cow dung and urine. Mahatma Gandhi even talked about the importance of cow by saying \"Mother cow is in many ways better than the mother who gave us birth\". Unfortunately, due to several economic constraints, cow owners are bound to leave the non-milching cows when they become non-productive. Such stray cattle are forced to survive on the garbage and suffer from fatal health problems. The recent ban on illegal slaughterhouses by the government (although rightly so), while beneficial for the cattle, has further complicated the situation. These stray cattle cause crop damage in villages and become victims of several injuries and casualties via accidents. There are already five million stray cattle officially on the streets of India, and with the ban on slaughterhouses, the numbers are only going to go further up. This is an alarming stage to analyse and tackle this problem in a systematic manner. In order to conquer this problem, it has been observed that Artificial Intelligence (AI)-based model incorporation can provide a solution by integrating stray cows in a circular economy. Donors could provide support to cows through a sustainable AI-based business model that is created in this paper. It provides donors to track their donations in real-time while also caring for cows (Gau Seva). Economical optimization of stray cow by-products: cow dung derivatives like cakes, compost, briquettes, incense sticks, etc., and cow dung as such along with urine can be sold to the biogas/bio fertiliser generation plants for further economic benefits. The real-world application of the model also demonstrates how a community biogas plant can help sustainable energy transitions for our villages and even the cities to become self-reliant and lower their dependency on LPG, which can save millions of dollars per year for the government through lower oil imports for LPG generation. In the long run, the proposed model relies more on internal revenue generation and phasing out the donation part to enable the GAU-based sustainability model for an economy.
#Cow represents a generic term covering the entire Gau-vansh. It is also sometimes referred to as cattle.
Stigma, Corporate Insolvency, and Law: International Practices and Lessons for India
Ram Mohan, M.P.; Wadhwa, Muskaan
Title : Stigma, Corporate Insolvency, and Law: International Practices and Lessons for India
Authors : Ram Mohan, M.P.; Wadhwa, Muskaan
Publication Date : 17-May-2022
Year : 2022
Publication Code : WP 2022-05-01
Abstract : Insolvency and bankruptcy have always attracted a measure of stigma. The negative attitude towards insolvency emerged due to the historically harsh treatment of bankrupts and the perception of bankruptcy as a breach of a sacred relationship between the debtor and creditor. Majority of the existing legal scholarship studying the bankruptcy stigma focuses on personal insolvencies, while its influence on corporate insolvencies has largely been neglected. This paper attempts to fill this gap by examining the impact and manifestations of stigma in the context of corporate insolvency. The paper does so by contrasting the corporate insolvency schemes of the United States and the United Kingdom. It argues that while both jurisdictions prioritise the rehabilitation of corporate debtors, there is a divergence in the methodologies across the Atlantic due to the varied historical, cultural, and economic attitudes towards business failures. With this background, the paper explores bankruptcy stigma in the Indian context and shows how certain provisions of the Insolvency and Bankruptcy Code, 2016 seem to reinforce and perpetuate the stigma against incumbent management and promoters of corporate debtors. The paper argues that there is a need to ameliorate the stigma associated with corporate insolvency for the successful rescue and rehabilitation of distressed corporations and for promoting entrepreneurship, innovation, and economic growth in the country.
Bilevel Optimization: Applications, Models and Solution Approaches
Jayaswal, Sachin; Sinha, Ankur
Title : Bilevel Optimization: Applications, Models and Solution Approaches
Authors : Jayaswal, Sachin; Sinha, Ankur
Publication Date : 17-May-2022
Year : 2022
Publication Code : WP 2022-05-02
Abstract : Bilevel optimization is a difficult class of optimization problems, which contain an inner optimization problem as a constraint to an outer optimization problem. Such optimization problems are commonly referred to as Stackelberg games in the area of game theory, where a hierarchical interaction between a leader and a follower is modeled. This chapter presents several examples of bilevel optimization problems arising in various contexts, e.g., the product line selection problem and the shortest path interdiction problem. Depending on the context of the problem, the leader and the follower may have the same objective function but with conflicting objectives (max-min in the shortest path interdiction), or may have different objective functions (as in the product line selection problem). Under this hierarchical setting, the leader tries to optimize its own decision by taking into account the rational response of the follower. A bilevel optimization problem is NP-hard even in the simplest case in which the problems of the leader and the follower are both simple linear programs. This chapter discuses classical solution approaches that are based on the reformulation of the bilevel problem into a single level. It also discusses several alternate single-level reformulations for the application problems considered in this chapter.
Mutation of the trademark doctrine: Analysing actionable use to reconcile brand identities with constitutional safeguards (Revised version as on 23.05.2022)
Ram Mohan, M.P.; Gupta, Aditya
Title : Mutation of the trademark doctrine: Analysing actionable use to reconcile brand identities with constitutional safeguards (Revised version as on 23.05.2022)
Authors : Ram Mohan, M.P.; Gupta, Aditya
Publication Date : 19-Apr-2022
Year : 2022
Publication Code : WP 2022-04-01
Abstract : Trademarks serve as a storehouse of information, assuring consumers about the quality of a product by ensuring that products bearing the trademark originate from a consistent source. The trademark doctrine has accommodated this position as its underlying thesis for several decades, and consumer confusion has served as a touchstone for trademark liability. However, given the configurations of the modern marketplace, trademarks transcend their role as source-identifiers and are framed in the language of relationships rather than transactions. With continuous and consistent use, trademarks can come to signify opulence, luxury, dependability and become cultural icons. The modern trademark doctrine must accommodate these realities of the marketplace while, at the same time, accommodating the flourishing exchange of expressive uses through unauthorized use of trademarks. This push-and-pull has resulted in complete obliteration of what were already obscure boundaries between the expressive and marketing spheres of trademark law. Drawing from the American, English, and European trademark jurisprudence, the present study examines the normative foundations of the modern trademark doctrine. These foundations are then extrapolated to Indian trademark law to create a workable limitation of mutating trademark doctrine through the actionable use requirement.
Abstract : This paper examines the role of state-owned banks\' presence in allocation of credit to different sectors in India using the central banks Asset Quality Review (AQR) as a quasi-natural experiment. The AQR resulted in a larger increase in non-performing loans of state-owned banks as compared to other banks. We exploit the heterogeneity in the presence of state-owned and other banks across districts to identify the supply side channels for bank credit reallocation. Using a difference-in-differences analysis, we find that the top-third of districts based on presence of state-owned banks branches experienced a higher fall in the share of credit to the industrial sector in the post-AQR period compared to other districts. Such districts also experienced a greater increase in retail loans, which are considered less risky compared to industrial loans. Further, an analysis using a panel vector autoregression finds that the AQR, through an increase in non-performing loans of state-owned banks, led to a decrease in economic growth at the district-level. The results of this study suggest that central bank policy reforms can influence bank credit allocation at the sub national level and have real economy effects.
Impact of Mergers and Acquisitions on Innovation: Evidence from a Panel of Indian Pharmaceutical Firms
Basant, Rakesh; Jaiswal, Neha
Title : Impact of Mergers and Acquisitions on Innovation: Evidence from a Panel of Indian Pharmaceutical Firms
Authors : Basant, Rakesh; Jaiswal, Neha
Publication Date : 25-Jan-2022
Year : 2022
Publication Code : WP 2022-01-01
Abstract : Based on the literature, the paper identifies processes that get initiated post an M&A event and affect the acquiring firm\'s innovation efforts. We apply panel fixed effects estimation techniques to analyze the individual impact of mergers and acquisitions on R&D intensity of acquiring firms using data for 217 publically listed Indian pharmaceutical firms (both acquirers and non-acquirers) during 1999-2018. The study finds that acquisitions rather than mergers provide impetus to R&D in the acquiring firms. This suggests that these two combinations-mergers and acquisitions - do not unleash the same type of innovation activity related processes in the acquiring firm. Results also show that when mergers or acquisitions are combined with purchase of assets, they have a positive impact on R&D intensity. Purchase of assets when combined with M&A seem to provide access to relevant complementary assets that makes R&D activity profitable for the acquirer post the merger or acquisition event. Possibly, firms view purchase of assets as a strategy that is complementary to M&A strategies for enhancing innovation. The paper shows that impact of M&A on R&D takes time and it is useful to analyze the impact of mergers and acquisitions separately, rather than combining the two together.