Robust consumption‐investment problem under CRRA and CARA utilities with time‐varying confidence sets

We consider a robust consumption‐investment problem under constant relative risk aversion and constant absolute risk aversion utilities. The time‐varying confidence sets are specified by Θ, a correspondence from [0, T] to the space of the Lévy triplets, and describe a priori drift, volatility, and jump information. For each possible measure, the log‐price processes of stocks are semimartingales, and the triplet of their differential characteristics is almost surely a measurable selector from the correspondence Θ. By proposing and investigating the global kernel, an optimal policy and a worst‐case measure are generated from a saddle point of the global kernel, and they constitute a saddle point of the objective function.     

Back to the future. Is industry 4.0 a new tecno-organizational paradigm? Implications for Latin American countries

ABSTRACT

The objective of this article is to establish a dialogue between the recent ‘Industry 4.0’ (I4.0) literature and evolutionary neo-Schumpeterean studies about techno-organizational paradigms. In that direction, we wonder whether I4.0 constitutes a new paradigm, as it is assumed by the first group of literature, or it represents – until the moment – an intensification of key features of the information and communication technology (ICT) paradigm, following the second group of studies. Some questions are raised about the implications of I4.0 for developing countries (DEC), afterwards. Specifically, we reflect on the possibilities of these countries to identify and take advantage of new windows of opportunity, opened by the development and diffusion of these technologies. In this regard, the review of recent Latin American experience raises strong concerns regarding I4.0 as a new source of intra- and international heterogeneity, linked to the severe difficulties these countries have in appropriating these technologies in the form of productivity gains and quasi-rents. It seems that this is partially derived from weak technological, organizational, and connectivity capabilities paths of accumulation between institutions and actors.     

Transformations of the Romanian agricultural paradigm under domestic economic policy reforms: An analysis during 1960–2011

The main aim of this paper is to investigate the transformations of the Romanian agricultural paradigm under the domestic economic policy reforms. An econometric approach is adopted by analyzing the evolution of Romanian agriculture between 1960 and 2011 from the perspective of its implications on residential land economy. This methodological choice relies on its high degree of applicability and its ability to reveal the massive transformation of the Romanian agricultural paradigm during the period under focus. Two regression models have been developed in the attempt to analyze the evolution of total value added and labor productivity in agriculture. The results obtained during the research confirm that Romanian agriculture exhibits determinant and significant elements able to trigger a massive change of paradigm.     

复杂视域中的适应性效率与后危机时代的经济发展

全球金融危机凸显出经济的复杂性本质,人们终于认识到"适应性效率"而非"资源配置效率"才是长期经济增长的关键。基于复杂性思想,本文系统梳理了诺思适应性效率理论并弥补了其不足,并据此对后危机时代的经济发展提出了对策。     

英语同义词的差别

同义词包括绝对同义词和相对同义词。英语中绝大多数同义词属相对同义词,其差别体现在语义、语体、搭配和句法分布等方面。另外,有些多义词能与不同意义的词构成同义词聚合。     

立象以尽意——中国古典诗歌创作范式

＂立象以尽意＂是一个哲学命题,它反映的是存在和表达方式之间的关系。经由哲学领域发展到文学领域后,这一命题对中国古典诗歌创作产生了重大影响,成为古典诗歌创作的范式。诗人们的创作遵循＂言不尽意———立象以尽意＂这一思维模式,从语言之＂象＂、无形之＂象＂、有形之＂象＂三个方面,试图在诗歌中树立起一个大于语言本身的＂象＂,从而来实现＂尽意＂的目的。正是这种创作范式,形成了中国古典诗歌含蓄隽永、意境深远的艺术特征。     

创新系统范式的古典解释与最新进展

随着技术创新理论和管理实践的进一步发展,系统论和复杂网络科学赋予＂创新＂以新的内涵,创新理论研究已不再局限于熊彼特理论的传统线性范式,创新系统范式愈来愈受到专家学者的认可和重视,标志着创新系统理论的成熟与发展。以创新系统的演化过程为依据,创新系统范式依次经历了一个从宏观到微观、微观到中观、最后至一体化的过程。本文运用技术创新的系统范式理论和方法,对20世纪70年代以来国外技术创新理论研究成果进行梳理和分析,探析技术创新系统的演化过程,剖析国家、区域和产业层面技术创新的内涵、本质及其演进路径;结合20世纪90年代以来世界科技革命和知识经济的创新实践,深入阐释不同创新体系或网络的结构、要素、功能及动力机制,并重点分析了当代创新系统范式研究中复杂网络和小世界模型的作用机制,提出创新系统范式研究的发展趋势及对我国创新型国家建设的启示。     

复杂视域中的适应性效率与后危机时代的经济发展

全球金融危机凸显出经济的复杂性本质,人们终于认识到＂适应性效率＂而非＂资源配置效率＂才是长期经济增长的关键。基于复杂性思想,本文系统梳理了诺思适应性效率理论并弥补了其不足,并据此对后危机时代的经济发展提出了对策。     

企业边界与产业组织的动态演化——基于企业边界二元分析范式的综合解释

对企业边界的主流研究存在着运用交易费用理论和企业能力理论的两大范式,但均有其局限性,即停留在短期的静态分析和局限于企业层面。本文在这两大范式的基础上,把短期、静态分析推进到长期、动态分析,并着力从产业层面揭示企业边界的动态演进机制,试图实现企业边界二元范式的新综合。二元范式的综合解释说明,交易费用与企业能力,企业边界与产业边界之间是一种共同演化关系。     

基于SCP范式的中国传媒产业分析

文章应用SCP范式,对我国传媒产业的市场结构指标与产业绩效进行了相关性分析,得出两者间存在着较强的正相关关系,并提出政府政策制定必须立足提高整个产业集中度,才能从根本上提高传媒产业的整体绩效。