Finite-dimensional utilities

Summary. Sufficient axioms are identified for the existence of a finite- dimensional quasilinear utility function whose lexicographically ordered vectors preserve a decision maker's preference order on a mixture set . It is shown that those axioms are also necessary for the linear lexicographic representation when the underlying set is a mixture space. Received: August 20, 1998; revised version: December 14, 1998     

情势变更原则的探讨

情势变更原则是关系到合同效力的一项重要原则 ,我国的《民法通则》和其他法律已经包含了该原则的精神。应确认这一原则为合同法的基本原则。     

浅谈外汇风险的防范

在国际金融市场动荡加剧的今天，金融风险尤其是外汇风险的防范是当前经济工作中的不可忽视的问题。本文分析了外汇风险造成的损失，总结了外汇风险的防范方法，对从事经济工作尤其是从事涉外经济工作的同志，有一定的警视作用。     

管理因素对电子商务信用风险的影响研究

电子商务信用风险已成为电子商务进一步发展的主要障碍,影响电子商务信用风险的因素是多种多样的,这些因素的影响机理也是复杂的。分析了管理因素对电子商务信用风险的影响机理;比较两种管理因素对电子商务信用风险的影响效果。     

The Demand for Hedging and the Value of Hedging Opportunities

Hedging strategies typically assume that hedging is costless and that only one futures market exists. When these assumptions are dropped, the demand for hedging is shown to depend on basis risk, price risk, and the hedger's risk preference. The marginal and incremental value of hedging opportunities are computed for the general cases of one and two markets and applied to the specific case of Pennsylvania dairy input hedging.     

高校财务风险控制研究

高校作为一个非赢利组织,面对市场竞争和生存的挑战,如何规避、化解财务风险的问题,做好风险预警,本文主要从高校财务风险形成原因进行探析。     

RISK MEASURES FOR NON-INTEGRABLE RANDOM VARIABLES

We show that when a real-valued risk measure is defined on a solid, rearrangement invariant space of random variables, then necessarily it satisfies a weak compactness, also called continuity from below, property, and the space necessarily consists of integrable random variables. As a result we see that a risk measure defined for, say, Cauchy-distributed random variable, must take infinite values for some of the random variables.     

Road safety impacts of the motorcycle in Brazil

Brazil has had high indices of traffic injuries and deaths since the 1950s, mostly related to the increasing and irresponsible use of the automobile. Upon approval of the Brazilian Transit Code (CTB) in 1997, traffic injuries and deaths began to diminish, despite an increase in vehicle fleet size, a phenomenon that had never occurred previously. Concurrently, starting in 1991 and with a great intensity after 1996, there has been a sizeable increase in motorcycle production and use, facilitated and encouraged by public officials. Between 1995 and 2000 annual sales figures for motorcycles doubled and reached 2 million units in 2008. Traffic deaths associated with motorcycles increased exponentially, rising from 725 in 2006 to 10,143 in 2010, eliminating the advances gained by the CTB in reducing auto-related injuries. This article analyses the process and its impacts on road safety. The first part summarises the main public policy decisions related to the theme. Part two analyses changes in traffic safety after the introduction of this new technology. Part three looks at the possible political, economic and social motives that lie behind this process. The final part suggests solutions to the great prejudice caused to society and the nation.     

中国风险投资基金运作的操作思路及政策性建议

风险投资基金是２０ 世纪以来全球金融领域最成功的创新成就之一， 亦为当前中国金融深化的一个热点。其有效的运作原则包括： 正确地选择投资项目， 认真地缔结投资协议，以可转换股权或债权方法注入资本，相机引进新资本的介入，而构塑一种连续性的评估机制则是分步推进的基础。     

Efficiency Considerations in the Additive Hazards Model with Current Status Data

For current status data, L IN , O AKES and Y ing (1998) proposed a procedure for estimation of the regression parameters in the additive hazards model that makes clever use of martingale theory. However, one of the outstanding problems posed in the paper was the issue of efficient estimation, as their estimators do not attain the semiparametric information bound. In this paper, we explore this issue and provide a characterization of the NPMLE. We conduct efficiency comparisons between the NPMLE and the procedure of L IN et al . (1998) analytically and numerically through analysis of a dataset from a tumorigenicity experiment.