Leverage-induced systemic risk under Basle II and other credit risk policies

We use a simple agent based model of value investors in financial markets to test three credit regulation policies. The first is the unregulated case, which only imposes limits on maximum leverage. The second is Basle II and the third is a hypothetical alternative in which banks perfectly hedge all of their leverage-induced risk with options. When compared to the unregulated case both Basle II and the perfect hedge policy reduce the risk of default when leverage is low but increase it when leverage is high. This is because both regulation policies increase the amount of synchronized buying and selling needed to achieve deleveraging, which can destabilize the market. None of these policies are optimal for everyone: risk neutral investors prefer the unregulated case with low maximum leverage, banks prefer the perfect hedge policy, and fund managers prefer the unregulated case with high maximum leverage. No one prefers Basle II.     

ATM交换机SNMP Agent的研究与实现

在ATM交换机开发过程中，SNMP Agent的开发起着核心作用，它是连接硬件平台、单板、软件系统、信令的桥梁。结合ATM交换机项目，使用目前国际上先进的开发工具，本文系统介绍了ATM交换机SNMP Agent开发的各个环节、开发步骤和具体的实现方法，对于路由器等网关设备的网管系统开发同样具有参考意义。     

A multi-agent-based model for a negotiation support system in electronic commerce

This study proposes a multi-agent-based model for bilateral multi-objective negotiation in electronic commerce trading. The function and behaviour of several types of agents are discussed. These agents interact with each other in our negotiation support system model to create the most appropriate solution for both negotiating parties. In particular, we are concerned with a win-win negotiation approach in which agents seek to strike a fair deal that also maximizes the payoff for everyone involved. That is, if the opponent cannot accept an offer then the proponent should endeavour to find an alternative to make a trade-off. Against this background, a utility model based on fuzzy constraint satisfaction problems is proposed to ensure that these agents reach a solution that is fair for both negotiating parties if such a solution exists. The model uses prioritized fuzzy constraints to indicate how concessions should be made when necessary. In addition, by incorporating the notion of a negotiation argument into our evaluation model, the agents can sometimes reach agreements that would otherwise be impossible. Finally, a numerical example is given to display the applicability of the proposed approach for electronic trading assistance.     

MAS体系结构的研究应用

本文介绍了Agent的概念及其特征和研究内容;MAS的概念和研究内容,并研究MAS系统的体系结构方式,以及各方式的特点,为今后的研究指明方向。     

基于GA的Agent多议题商务谈判决策问题研究

针对谈判过程中的最优决策和谈判效率问题,结合商务谈判具体特点,运用现在比较流行的Agent技术和遗传算法(GA),提出了用于解决多议题谈判问题的基于GA的Agent谈判模型,并结合具体问题对模型的有效性进行了仿真试验,通过模型的应用谈判各方提供了合理的谈判决策建议,达到双赢目的,实现了效用最大化。     

物流信息系统体系结构产品向多Agent系统的映射研究

对体系思维指导下的多Agent系统建设进行研究和探索．提出将体系结构技术与Agent技术相结合，研究了体系结构产品向多Agent系统映射问题的来源及其映射方法，为未来物流信息系统的发展提供了很好的建设思路。     

Random matrix ensembles of time-lagged correlation matrices: derivation of eigenvalue spectra and analysis of financial time-series

We derive the exact form of the eigenvalue spectra of correlation matrices derived from a set of time-shifted, finite Brownian random walks (time-series). These matrices can be seen as real, asymmetric random matrices where the time-shift superimposes some structure. We demonstrate that, for large matrices, the associated eigenvalue spectrum is circular symmetric in the complex plane. This fact allows us to exactly compute the eigenvalue density via an inverse Abel-transform of the density of the symmetrized problem. We demonstrate the validity of this approach numerically. Theoretical findings are then compared with eigenvalue densities obtained from actual high-frequency (5 min) data of the S&P 500 and the observed deviations are discussed. We identify various non-trivial, non-random patterns and find asymmetric dependencies associated with eigenvalues departing strongly from the Gaussian prediction in the imaginary part. For the same time-series, with the market contribution removed, we observe strong clustering of stocks into causal sectors. We finally comment on the stability of the observed patterns.     

中国医药流通业现状及发展对策分析

中国医药流通业存在行业利润额下降,物流费用居高不下,专定人才缺口大,代理利润受到威胁,药品招标采购不规范等问题.针对这些问题,应继续大力推进医药流通业的并购、重组;创立医药商业品牌,走特色经营之路;完善总代理、总经销制,推进药品电子商务模式;发展现代医药物流模式,降低物流费用.     

创业社会网络中隐性知识转移激励模型研究

创业社会网络中隐性知识转移能够为创业带来持续发展动力，但一般的显性契约无法消除隐性知识转移过程中传播者可能存在的短期行为。从隐性知识转移的信任机制出发，将声誉模型与委托代理理论相结合，建立了拟合隐性知识传播者心理和行为特征的动态激励模型，分析了声誉效应在提高创业社会网络隐性知识转移效率中的作用，探讨了声誉效应的主要影响因素，并针对如何有效发挥隐性知识转移中声誉效应的激励作用提出了建议。     

基于Agent的工作流管理系统研究

介绍了工作流技术的相关概念和工作流管理系统的系统特性。分析了Agent的特性和优点,给出了基于Agent的工作流系统模型并对其中Agent的进行了功能分析。提出了集中式体系结构和分布式体系结构并针对其中的不足引入了Agent技术,通过对Agent过程实例执行的分析,说明了Agent技术对工作流管理系统的改进。