A note on the existence of unique equivalent martingale measures in a Markovian setting

Simple sufficient conditions for the existence of a unique equivalent martingale measure are provided. Furthermore, these conditions give us a handle on situations where an equivalent martingale measure cannot exist. The existence of a unique equivalent martingale measure is of relevance to problems in mathematical finance. Two examples of models for which the question of existence was unresolved are studied. By means of our results existence of a unique equivalent measure up to an explosion time is proved.     

Software for Learning and for Doing Statistics

The community of statisticians and statistics educators should take responsibility for the evaluation and improvement of software quality from the perspective of education. The paper will develop a perspective, an ideal system of requirements to critically evaluate existing software and to produce future software more adequate both for learning and doing statistics in introductory courses. Different kinds of tools and microworlds are needed. After discussing general requirements for such programs, a prototypical ideal software system will be presented in detail. It will be illustrated how such a system could be used to construct learning environments and to support elementary data analysis with exploratory working style.     

The Long-run Effects of the Italian Pension Reforms

The paper analysesthe reforms of the Italian mandatory pension scheme for employeeslegislated in the 1990s. To assess the effects of the reforms,a microsimulation model calibrated on cross-section data is developed.The model is aimed at estimating the average income of a memberof a cohort, as well as the average per capita income of allindividuals alive in a given year. The long-run effects of thereform are analysed, comparing the characteristics of alternativefinancing schemes. A substantial improvement of the equity aswell as the long-run sustainability of the Italian public pensionschemes emerges. However, the dreary demographic scenario callsfor further tightening of eligibility rules sometime in the nextdecades if long-run sustainability of public debt is to be achieved.On the basis of sensitivity analysis, some changes aimed at hedgingthe system against unexpected shocks are suggested.     

Believing in employment discrimination: The case of Forrest Mims,Scientific American,and title VII protection

This article reviews the law regarding Title VII employment discrimination protection from religious discrimination. The issues surrounding the principal legal protection in this regard are explored in the context of a recent controversial case in which an author, Forrest Mims, was not hired as a regular contributor forScientific American magazine, ostensibly because of his belief in the theory of creation over the theory of evolution. The definition of what constitutes a protected religious belief or practice is seen to have expanded over time. However, a belief in creationism is not necessarily seen as being tantamount to a religious belief under present legal interpretation of Title VII. The implications of this finding for future needed Title VII revision are discussed.     

国有股减持的困境与出路

随着战略管理的观念与技术在我国企业管理中的应用 ,战略成本管理在我国企业中的推行势在必行。企业在从传统成本管理向战略成本管理转变中 ,应特别注意树立正确的成本管理思想、拓展成本管理的范围以及改变现有的生产方式三方面问题。     

随机生产前沿方法的发展及其在中国的应用

本文对随机前沿生产函数模型的发展及其在中国生产率分析中的应用进行了评述。文章首先介绍随机前沿方法的基本原理、估计方法和在面板数据下对全要素生产率增长的分解,随后评述随机前沿生产函数模型的最新进展和在经验分析中的优势与作用,最后总结了在中国行业和地区经济增长研究中随机前沿方法的成果和不足,并探讨今后研究的发展方向。     

物流是实现客户服务的管理活动

对传统储运业的概念、资产等关键问题发表了见解，提出了物流是整合从应链一体化，实现客户服务的管理活动。商流与物流的结合是最有价值的流通形式。     

跨国公司在中国所筑之进入壁垒及对策

本文从规模经济、产品差异化、市场内部化和技术四个方面分析了跨国公司在中国所筑的进入壁垒的表现和成因 ,并就此提出了对策。     

卡夫卡小说的思想与艺术特色散论

奥地利作家弗朗兹·卡夫卡小说的思想特色主要是深刻反映了资本主义社会的"人的异化"、暴露资本主义社会的腐朽专横和野蛮残忍及一些人的心理变态,艺术特点主要是表现主义、象征主义和超现实主义.     

中国农村金融组织生存、变迁及发展

由于农业的弱质性及在国民经济发展中的基础地位，农村金融组织在农村经济及整个国民经济稳定发展中发挥着不可或缺的作用。中国农村金融组织也有一个生存、发展的制度变迁过程。本文在研究了合作经济及农村金融组织在农村经济发展中的作用的基础上，重点研究了法国的农村金融体系在法国国民经济中的作用，并进一步探讨了中国农村金融组织的生存条件、制度变迁及发展。