Economic designs of two-sided single and double screening procedures

Economic designs of single and double screening procedures for improving outgoing product quality based on two screening variables are presented for the case of two-sided specification limits. Two screening variables are observed simultaneously in the single screening procedure. In the double screening procedure, one variable is used first to make one of three decisions — accept, reject, or undecided — and after the first screening, the second variable is employed to screen the undecided items. It is assumed that the performance and the two screening variables are jointly normally distributed, and the deviation of the performance variable from the ‘ideal’ value causes dissatisfication to the consumers. Two quality cost functions — constant and quadratic — are considered. Cost models are constructed which involve screening inspection cost, and costs of accepted and rejected item. Methods of finding the optimal cutoff values are presented and a numerical example is given.     

Cure or Sell: How Do Pharmaceutical Industry Marketers Combine Their Dual Mission? An Approach Using Moral Dissonance

Journal of Business Ethics - Pharmaceutical industry marketers are confronted with specific ethical issues linked to the tension between the economic interest being pursued and the health mission...     

汇金公司初试啼声

从目前汇金公司的运作模式看，汇金或者是通过参与商业银行的改革重组，作为国有资本的代表人行使股东权力，或者是在金融稳定职能的目标推动下，注资银河、申万、国泰等券商。一时间，汇金公司成为中国金融改革领域最为引人注目的机构。汇金公司在国有银行改革之后通过减持股权获得了良好的收益，同时国有银行改革也取得了明显的进展，可以说是汇金初试啼声之后取得的一份不错的答卷。     

从格林斯潘的“无为”谈起

美联储主席格林斯潘卸任，仿佛一位名震江湖的剑客的退隐，给波澜起伏的金融市场以无限的回味与反思。在侣年的江湖历险中，格林斯潘越来越成为传说，成为典故。     

泡沫分离法去除废水中的铅镍离子

采用泡沫分离法对模拟废水中的铅镍离子进行了去除实验,研究了废水气流速度、pH值、表面活性剂浓度、分离时间等因素对分离效果的影响.结果表明,利用十二烷基硫酸钠为表面活性剂(SDS),当pH值为9.0、气速为300 ml/min时,若SDS浓度为10mg/L,镍离子达到最大去除率;若SDS浓度为20 mg/L,铅离子分离率最佳,残液废水可以达到排放标准.     

The Impact on Housing Values of Restrictions on Rights of Ownership: The Case of an Occupant's Age

With the exception of anecdotal information, little is known about the specific effects on the value of a house because its ownership is restricted to people older than a certain age. This article provides an empirically-derived assessment of the impact on the selling price of single-family residences when their ownership is age restricted. To determine the effect on the sales price of age-restricted houses, a standard hedonic pricing model is applied to a sample of 371 sales transactions drawn from a suburban area of a large city. The results indicate that an age restriction placed on houses decreases their value by 6%. This finding may be of interest to local land-use regulators, developers who are considering developing age-restricted houses and appraisers who wish to make value adjustments to these homes.     

An empirical examination of the externalities of neighborhood churches on housing values

Recently, establishment of churches in residential neighborhoods has become controversial. This study is the first to address the issue of whether a neighborhood church positively or negatively affects the value of nearby single-family properties. This hypothesis is tested with a standard hedonic pricing model, using a sample of 469 sales transactions drawn from a large metropolitan area. Nonchurch effects are held constant with a standard set of housing-related variables. A distance variable is included to measure the direction and magnitude of the externality effect. Results indicate the effect of churches on sales price is negative up to approximately 850 feet. The authors suggest that empirical evidence such as this will inform both public and private parties involved in land use decisions relating to neighborhood churches.     

房屋拆迁矛盾冲突的解决

在城市迅猛发展的今天,房屋拆迁不可避免.由于城市规划和国家专项建设工程的需要,必须对城市国有土地的使用权实行再分配,从而达到土地资源的合理配置,使土地利用效率最大化.然而原本再正常不过的事情,由于法律制度不健全,导致实践中矛盾冲突不断,更是发生了很多恶性事件,危害到社会的稳定.本文试对冲突原因进行分析,并提出解决的建议.     

Modeling the contemporaneous duration dependence for high-frequency stock prices

This paper proposes a novel copula approach to model the contemporaneous duration dependence for high-frequency (HF) stock prices via the bivariate hazard function. This method is useful in understanding the mechanism through which the prices of financial assets jointly adjust to reflect new information. In the empirical analysis, we use the HF data on the APPLE and IBM stocks to illustrate the feasibility of our approach. In brief, the main findings are as follows: (1) there is a strong evidence of contemporaneous duration dependence between the prices of these stocks and (2) as a result the estimators of the bivariate hazard function are sensitive to the choice of copulas under our study.