Global systemic risk and resilience for novel coronavirus in postpandemic era.

The ongoing pandemic has evolved and is posing diverse challenges for the world. Countermeasures for risks are needed to address both direct and indirect effects of disease on the healthcare system, economic and industrial sectors, governance, environment, transportation, energy, and communication systems. There are indicators of a forthcoming postpandemic era. The rethinking and reevaluation of policies adopted throughout the pandemic are ongoing to address cascading threats of emerging and reemerging infectious diseases. The first Special Issue introduced the topic. This second Special Issue describes international collaboration and innovation for pandemic risk and resilience, with a focus on future policy and operations of global systems toward a postandemic era.

Global Systemic Risk and Resilience for Novel Coronavirus and COVID-19.

This Special Issue is dedicated to issues and challenges related to pandemic risk and resilience, with a focus on policy and operations of global systems in the COVID-19 pandemic. The cascading effects of emerging and reemerging infectious diseases to the global economy are a critical interest. Measures to confront the ongoing pandemic are an urgent need. Data analysis at regional and global scales is helping to prioritize response and resilience across locations of high risks. The risk sciences are available for addressing human health and infection risks; the evaluation of risk management strategies and tradeoffs; risk perception as it relates to information processing and receiving risk communication; and tracking system resilience as it relates to various imposed measures.

A risk analysis model in concurrent engineering product development.

Concurrent engineering has been widely accepted as a viable strategy for companies to reduce time to market and achieve overall cost savings. This article analyzes various risks and challenges in product development under the concurrent engineering environment. A three-dimensional early warning approach for product development risk management is proposed by integrating graphical evaluation and review technique (GERT) and failure modes and effects analysis (FMEA). Simulation models are created to solve our proposed concurrent engineering product development risk management model. Solutions lead to identification of key risk controlling points. This article demonstrates the value of our approach to risk analysis as a means to monitor various risks typical in the manufacturing sector. This article has three main contributions. First, we establish a conceptual framework to classify various risks in concurrent engineering (CE) product development (PD). Second, we propose use of existing quantitative approaches for PD risk analysis purposes: GERT, FMEA, and product database management (PDM). Based on quantitative tools, we create our approach for risk management of CE PD and discuss solutions of the models. Third, we demonstrate the value of applying our approach using data from a typical Chinese motor company.

General probability-time tradeoff and intertemporal risk-value model.

This article proposes an intertemporal risk-value (IRV) model that integrates probability-time tradeoff, time-value tradeoff, and risk-value tradeoff into one unified framework. We obtain a general probability-time tradeoff, which yields a formal representation form to reflect the psychological distance of a decisionmaker in evaluating a temporal lottery. This intuition of probability-time tradeoff is supported by robust empirical findings as well as by psychological theory. Through an explicit formalization of probability-time tradeoff, an IRV model taking into account three fundamental dimensions, namely, value, probability, and time, is established. The object of evaluation in our framework is a complex lottery. We also give some insights into the structure of the IRV model using a wildcatter problem.