The significance of simulation modeling at multiple levels, scales, and perspectives is well recognized. However, existing proposals for developing such models are often application specific. The position advocated in this paper is that generic design principles for specifying and realizing multiresolution, multistage models are still lacking. Requirements for simulation environments that facilitate multiresolution multistage model specification are introduced. A multimodel specification formalism based on graph of models is suggested along with design precepts to enable flexible dynamic model updating. The notion of multisimulation is introduced to enable exploratory simulation using various types of multimodels.
Abstract-For more than five years, researchers at Carnegie Mellon University have been collaborating with several SAP teams to improve the usability of SAP's developer tools and programming APIs. Much research has shown that HCI techniques can improve the tools that developers use to write software. In a recent project, we applied HCI techniques to a SAP developer tool for the SAP NetWeaver Gateway product. The SAP team building this tool uses agile software development processes, which allowed them to quickly improve the tool's usability based upon the evaluations.
COVID-19 has severely disrupted the conduct of business around the globe. In jurisdictions that impose one or more 'lockdowns', multiple sectors of the real economy must endure prolonged periods of reduced trading or even total shutdowns. The associated revenue losses will push many businesses into bankruptcy. No public policy response can recover these losses. States can, however, act to reduce the amplification of the shock by the way in which they treat the cohort of newly bankrupt businesses. In jurisdictions where a well-functioning reorganisation procedure is capable of producing value-maximising outcomes in normal conditions, the temptation may be to subject this cohort to treatment by such procedures. This temptation should be resisted, not only because of the (significant) costs of these procedures, or because of concerns about institutional capacity to treat a high volume of cases, but also because such procedures are likely to be a poor 'fit' for the treatment of COVID-19 distress. In our view, the more attractive routes to relief are bail-ins (one-time orders to creditors or counterparties, or some class thereof, to forgive), bail-outs (offers to assume the debtor's liabilities, or a class thereof), or some combination of the two. In this paper, we explain why a public policy response is necessary to mitigate the amplification of the shock caused by trading shutdowns , and compare treatment by the prevailing bankruptcy law with treatment by bail-ins or bail-outs along a range of dimensions. We conclude by tentatively suggesting some principles to help guide the choice between bail-ins and bail-outs, and the design of either form of intervention.
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