简介：Thepaperdescribedthreemethodsofscalingthebondportfolioprice.Theywereduration,convexityandtimevalue.FromtheprincipleofNo-arbitrage,therewasoneandonlyonerelationshipofduration,convexityandtimevalue.ItchosethreecorporationbondsofChinaandanalyzedtheriskoftwoinvestmentstrategies.

简介：在生产工业的许多设备，公司不仅在产品价格上，而且在维护服务上与对方竞争。面向的公司为他们与维护服务(P&S捆)绑的顾客产品正在提供的越来越传统的产品。在这研究，我们检验公司刺激在市场由两家卖主垄断的局面与长期的维护或修理支持服务为顾客提供产品捆绑竞争环境。当提供P&S捆时，决定服务水平的坚挺的需要(以为在这份报纸的服务的平均反应时间保证)满足要求到提议和需要造一台服务设备处理维护。基于三个亚比赛模型的分析，我们描绘仅仅一个公司，两个公司或两个公司将在提供P&S捆的市场条件。最后，我们在公司策略选择上分析山猫的一种市场因素的affects。

简介：InthispaperwereanalyzeSaid’s(2011)workbyretainingallhisassumptionsexceptthatweusethefirst-priceauctiontoselldifferentiatedgoodstobuyersindynamicmarketsinsteadofthesecond-priceauction.Weconcludethatexceptfortheexpressionoftheequilibriumbiddingstrategy,alltheresultsforthefirst-priceauctionareexactlythesameasthecorrespondingonesforthesecond-priceauctionestablishedbySaid(2011).Thisimpliesthatthewell-known'revenueequivalencetheorem'holdstrueforSaid’s(2011)dynamicmodelsetting.

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简介：Sponsoredsearchadvertisingisasignificantrevenuesourceforsearchengines.Toamelioraterevenues,searchenginesoftensetfixedorvariablereservepricetoininfluenceadvertisers'bidding.Thispaperstudiestheoptimalreservepriceforageneralizedsecond-priceauction(GSP)underbothstaticanddynamicsettings.Weshowthatifadvertisers'per-clickvaluehasanincreasinggeneralizedfailurerate,thesearchengine'srevenuerateisquasi-concaveandhencethereexistsanoptimalreservepriceunderbothsettings.DifferentfromastaticGSPauctionwheretheoptimalreservepriceisprovedtobeconstant,inadynamicsettingtheoptimalreservepriceisdependentonnotonlyadvertisers'per-clickvalues,butalsothenumberofadlinkssold.Asearchengineshouldgraduallyraisereservepriceasmorequalifiedadvertisersarrive,andmaintainthesamethresholdafterallfirst-pagepositionsareoccupied.

简介：底价拍卖是在传统的拍卖理论的热研究问题之一。这里，我们在联机拍卖学习开始的价格，在传统的拍卖的公共底价的对应物。由认为象eBay一样的三个特征联机，投标人(到泊松过程的题目)的auctions:stochastic入口，与开始的价格成正比的插入费用，和时间打折，我们为最大化分析了开始的价格的极值点的性质卖主期望了收入，并且发现了那，在某些条件下面，最佳的开始价格应该在最低许可的水平，它与从经典拍卖理论的结果相反并且事实上发现它的optimality。我们也开发了多级式的拍卖的一个一般扩大模型并且在它的性质上执行了分析。最后，为进一步的研究的一些方向也被提出。

简介：这份报纸使用中国列出的公司的金融数据探索在债结构之间的关系，它作为贸易信用的比率被测量存贷款，和未来股票价格碰撞风险。当好机构的环境减少这种积极关系时，实验结果证明到银行贷款的贸易信用的比率断然与公司特定的碰撞风险被联系。就公司所有权类型而言，另外，作者发现在债结构和碰撞风险之间的积极关系在SOEs是更重要的。

简介：Afterthereformandopening,theeconomicrelationshipbetweenChinaandtheworldisstrengthenedheavily.Theoretically,internationalfactorshaveimpactonthedomesticgeneralpricelevelthroughasetofchannels.Thispaperemployedasampleincludingmonthlydataoffiverepresentativeindicators,toexploretheinfluenceofinternationalfactorsonChinesepricelevel.TheempiricalresultsshowedthatthereisanobviouslagforChineseCPIreactingtointernationalshocks,whilethePPIreactsimmediately.TheimpactofinternationalfactorsonChineseCPIandPPIusuallylasts12monthsatleastandtheyalwaysexhibitadifferenttransmissionmechanismforinternationalshocks.Besides,afurtherstudyrevealedthatsomestructure-breakpointsintheinfluencemechanismofinternationalfactorsexist,andgreatchangesoftheimpactdirectionandsignificancefordifferentfactorshavetakenplaceinthesubsampleperiods.

简介：这份报纸优化电和为精力分发购买过程的可更新的精力信用(录制)。电在deregulated被交换以波动的价格的时间顺序的市场。在价格和需求无常下面购买的最佳的电进一步是为电经销商，和最近实现的可更新的公事包标准(RPS)的一项挑战性的任务复杂化购买过程。有关RPS的政府规章的决定要求经销商购买相应证书，也就是消遣，等价于他们的电出售的某个百分比。这份报纸为电和消遣提出并且优化联合购买过程。它也分析在电经销商上的RPS政策的效果。

简介：ThemaineffectfactorofBeijingurbanpublictransportationticketpricesystemfoundationisanalyzedbyapplyingsystemanalysismethod.Feasibleschemeofpublictransportationticketpricesyscemisproposed.3implementedschemeofpublictransportationticketpricesystemisvaluedbyapplyingfuzzymethod.

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简介：Thepaperstudieschannelchoicedecisionsinamulti-channelsupplychainunderastrategywherethereisanex-antecommitmentmadeontheretailpricemarkup.Themarketdemandisuncertainanddependentonthepriceandsalesefforts.Theresultsshowthatinanychannelstructure,whenmakingorderdecisionstheretaileronlyexaminesthepriceratioandthefluctuationsizeofrandomdemand,ratherthanthechannelcostandtheretailer’smarketingefficiency.Whentheretailpricerises,themanufactureriswillingtoincreaseinventoryquantityfordirectsales,becausethemanufacturer’sprofitmarginishigherindirectchannel.Theincreaseindemandfluctuationonlyaffectsthedegreeofchannelpreferencebutdoesn’tchangethemanufacturer’schannelchoice.Nomatterinwhichlevelthepriceratiois,whenthesalesefficiencyofretailchannelisnothighorthedemandproportionofdirectchannelislow,themanufacturerandtheretailerwillbebothapttochooseadual-channelstructure.Thenaddingadirectchannelbecomesamarketingstrategy,ratherthanacompetitoroftheretailchannel,andhelpsthesupplychainwinmoremarketdemand.

简介：Weconsideranewsvendorproblemwithprice-dependentdemand,ineitheradditiveormultiplicativeformat.Thenewsvendorhastwomodesofpurchasing:regularorderingatthebeginningofthesellingseasonandemergencyordering(iftherealizeddemandexceedstheinitialorderquantity)attheendofthesellingseason.Bystochasticcomparisons,wesystematicallyinvestigatetheeffectsofdemandmagnitudeanddemandrandomnessonpricingandorderingquantitydecisionsaswellasexpectedprofitofthenewsvendor,underbothusualstochasticorder(firstorderstochasticdominance)andconvexorder(lessvariable).Ourkeyfindingsinclude:(i)incontrarytothecasewherepriceisexogenous,astochasticallylargerdemandshockmayevenleadtoalowerorderquantity;(ii)astochasticallylargerdemandshockleadstoahigherpricefortheadditivedemandcase,butmayleadtoalowerpriceforthemultiplicativedemandcase;(iii)astochasticallylargerdemandshockleadstoahigherexpectedprofitforbothdemandmodels;(iv)ingeneral,alessvariabledemandleadstoahigherexpectedprofitforbothdemandmodels;andfurthermore,alessvariabledemandshockhasnoeffectonpricefortheadditivedemandmodel,butleadstoahigherpriceforthemultiplicativedemandmodel.Theimplicationsofallthesefindingsforpricingandorderquantityarediscussedindetail.

简介：这份报纸建议一个间隔方法对美元和金价格探索在澳大利亚的美元的汇率之间的关系，用每周、每月、季度的数据。与间隔方法，间隔样品数据被形成介绍变量的轻快。ILS途径被扩大到多模型评价，计算计划被提供。实验证据建议ILS估计很好描绘汇率怎么联系到金价格，两个在长期间并且短期。在间隔和点方法之间的比较显示OLS和ILS估计之间的差别从每周的数据正在增加到季度的数据，自从最低频率点数据失去了轻快的大多数信息。

简介：Intheexistingelectricitymarket,thetraditionalpowersuppliersandrenewableenergygeneratorscoexistinthepowersupplyside.Inthepowersupplyside,renewableenergygeneratorsgeneratepowerbywindandothernaturalconditions,leadingrenewableenergyoutputacertainrandomness.However,thelowmarginalgeneratingcostandthereductionofcarbonemissions,andthusbringsacertainadvantageforrenewableenergycomparedtoalternativeenergy.Electricity,asaspecialcommodity,stableandadequatepowersupplyisanecessaryguaranteeforeconomicandsocialdevelopment.Powershortagesituationisnotallowedinthepowersystem,andtheextrapowerneedstobehandledforthepurposeofsafety.Inthispaper,thehybridpowergeneratedbyrenewableenergygeneratorsandtraditionalenergygeneratorsisusedaspowersupply,andthentheelectricitymarketsellshybridpowertoelectricityconsumers,thehybridpowersystemdeterminestheoptimaldaytimeprice,nighttimeprice,andtheoptimalinstalledcapacityoftherenewableenergysuppliers.Wefindthattheinstalledcapacityofrenewableenergyincreasesfirstandthendecreaseswiththeincreaseofthepricesensitivitycoefficientoftraditionalenergysupply.Electricitydemandisnegativelyrelatedtoelectricitypriceinthecurrentperiod,andispositivelyrelatedtopriceintheotherperiod.Theaveragepriceofdayandnightisonlyrelatedtothetotalpotentialdemandofdayandnightandthetotalgenerationprobabilityofrenewableenergy.Thepricedifferencebetweendaytimeandnighttimeispositivelyrelatedtopotentialelectricitydemand,andnegativelyrelatedtothesensitivitycoefficientofelectricityprice.

简介：Inthispaper,westudyacentralizedsupplychainforatwo-stagewithsellingpricediscount.Thissupplychainconsistsofasupplierandaretailer.Basedonthefeaturethattheproduct’ssellingseasonisshortandthesupplychainfacesgreatdemanduncertainty.Weconsideratwo-stagescenariowhere,atthebeginningofstage1,thesupplierreservesproductioncapacitybasedonhistoricdatainadvance,stage2comestousaftersomeleadtime,boththesupplierandtheretailerupdatethedemandinformation,theretailerthenplacesanordernotexceedingthereservedcapacitybasedontheselling-pricingdiscountdependentdemand.Wemakeoptimaldecisionsonthereservedcapacityinstage1,sellingpricediscountandorderquantityinstage2.Inthissupplychain,thepatterninstage2isfiguredoutfirst,andthenstage1isclearedaswell.Thenwepresentanumericalexampletogivesomeinsights.Finallywegetsomeconclusions.

简介：Duetothelongoperationcycleofmaritimetransportationandfrequentfluctuationsofthebunkerfuelprice,therefuelingexpenditureofacharteredshipatdifferenttimeorportsofcallmakesignificantdifference.Fromtheperspectiveofshippingcompany,anoptimalsetofrefuelingschemesforashipfleetoperatingondifferentvoyagecharterroutesisanimportantdecision.Toaddressthisissue,thispaperpresentsanapproachtooptimizetherefuelingschemeandtheshipdeploymentsimultaneouslywithconsideringthetrendoffuelpricefluctuations.Firstly,anARMAmodelisappliedtoforecastatimeserialsofthefuelprices.Thenamixed-integernonlinearprogrammingmodelisproposedtomaximizetotaloperatingprofitoftheshippingcompany.Finally,acasestudyonachartercompanywiththreebulkcarriersandthreevoyagecharterroutesisconducted.Theresultsshowthattheoptimalsolutionsavesthecostof437,900USDcomparedwiththetraditionalrefuelingscheme,andverifytherationalityandvalidityofthemodel.

简介：Inthispaper,weconsideranewsvendormodelinwhicharisk-aversemanagerfacesastochasticprice-dependentdemandineitheranadditiveoramultiplicativeform.Anemergencypurchaseoptionisallowedaftertherealizationofdemandtosatisfytheunitsthatareshort.Byadoptingconditionalvalue-at-risk(CVaR)asthedecisioncriterion,weaimtoinvestigatetheoptimalpricingandorderingdecisions,andtheeffectsofparameterchangesinsuchasetting.Weprovidesufficientconditionsfortheuniquenessoftheoptimalpolicyforbothdemandmodels.Weperformcomparativestaticsanalysistoshowhowtheoptimalpricingandorderingdecisionbehaveswhenchangingparameters.WealsocompareourresultswiththoseofthenewsvendorwithageneralutilityfunctionandwithCVaRcriterionunderlostsalesassumption.Ourkeyresultsinclude:(i)Forbothdemandmodels,theoptimalsellingpriceisdecreasinginriskaversion.Hence,theoptimalpriceofarisk-aversenewsvendorisnotgreaterthantheoptimalpriceofarisk-neutralnewsvendor.(ii)Incontrarytothelostsalescase,forthemultiplicativedemandmodel,theoptimalorderquantitymaynotbemonotonicinriskaversion.Consequently,theoptimalrisk-averseorderquantitymaybelowerorhigherthantheoptimalrisk-neutralcounterpart.(iii)Fortheadditivemodel,theoptimalorderquantityisstrictlyincreasingintheemergencypurchaseprice,whileforthemultiplicativemodeltheoptimalorderquantityhasnosuchamonotonicproperty.Somenumericalexamplesareconductedtoverifyourclaimsandgainmoreinsightsabouttherisk-aversedecision-makingbehaviors.

简介：Retailpriceandpromotionaleffortaretwoimportantparametersonwhichdemandofacommoditylargelydepends.Thispaperdevelopsandanalyzesatwo-echelonsupplychainwheremarketdemanddependsonbothretailpriceandsaleseffort.Thecentralizedmodelisstudiedasthebenchmarkcase,andthewholesaleprice-onlycontractisstudiedasthebasecaseinwhicheachentitytriestomaximizeitsindividualprofit.Differentcontractmechanismsareimplementedtooutperformthebasecaseintermsofbothtotalchain'saswellasindividualprofits.Comparisonsamongthecoordinatingcontractsareprovidedsothatanyentitymaychoosethebetteronefromavailablecontractsafterthecontractparametersarenegotiated.Themodelisextensivelyexaminedthroughanumericalexample.

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