Hierarchical thinking and learning in rank order contests

We analyze a class of coordination games in which the Kth player to submit an entry wins a contest. These games have an infinite number of symmetric equilibria and the set of equilibria does not change with K. We run experiments with 15 participants and with K=3, 7, and 11. Our experiments show that the value of K affects initial submissions and convergence to equilibrium. When K is small relative to the number of participants, our experiments show that repeated play converges to or near zero. When K is large, an equilibrium is often not reached as a result of repeated play. We seek explanations to these patterns in hierarchical thinking and direction learning.      

基于供应链的电厂煤炭采购订货优化研究

企业之间的竞争已经转变为供应链之间的竞争,而采购工作是供应链的源头,采购成本的节约是供应链成本控制的重要环节。文中针对燃料煤供需紧张问题,把供应链管理的思想引入电厂的采购订货中,采用综合考虑供应链上的供方(煤炭供应商)及需方(电厂)的一体化采购策略,以期为供需双方建立战略合作伙伴关系。通过建立供需双方的综合采购数学模型,为电厂提供了最佳的订货量,实现供应链整体利益最大化,最后利用算例验证模型的有效性。     

亨廷顿政治发展理论的发展

亨廷顿作为政治发展理论的代表人物,他的政治发展观经历了威权取向、通过文化对不同发展目标进行调和,再到民主取向的变化。变化中包含不变的主题,如他的保守主义,对美国国家利益的关注,平衡观念等。政治发展进程即社会转型是由一系列目标构成的,需在核心目标的引导下遵循即时即地的哲学。     

单管高压旋喷桩处理软土路基质量控制探讨

文章通过广州市南沙开发区某市政道路工程实践,探讨影响高压旋喷桩成桩质量和软基处理效果的因素及其处理对策,总结高压旋喷桩处理软土路基质量控制的具体措施,为类似工程设计和施工提供了经验。     

The International Economic Order and Trade Architecture

Abstract

The world has lived through an accelerated globalization process over the last 15 years. Global trade relative to world GDP has grown from 39% in 1992 to 52% in 2005. At the same time, the share of world trade of OECD countries has gone down from 73% in 1992 to 64% in 2005. These shifts have led to changes in the structure of the world trade network and, in particular, how the role and influence of emerging markets on world trade have evolved. This paper is designed to elucidate some aspects of this changing trade architecture using network analysis.

Ordre économique international et architecture commerciale

Résumé Au cours des 15 dernières années, le monde a traversé une période de mondialisation accélérée. Le rapport entre le commerce mondial et le PNB du monde est passé de 39% en 1992 à 52% en 2005. Pendant la même période, la part du commerce mondial pour les pays de l'OCDE a baissé de 73% en 1992 à 64% en 2005. Ces variations ont engendré des variations dans la structure du commerce mondial, notamment dans l’évolution du rôle et de l'influence des marchés émergents sur le commerce mondial. La présente communication a pour but d’élucider certains aspects de cette architecture mondiale changeante au moyen d'une analyse des réseaux.

El orden económico internacional y la arquitectura comercial

Resumen Durante los últimos 15 años, el mundo ha atravesado un proceso acelerado de globalización. El comercio global, en relación con el PNB mundial, ha crecido de un 39% en 1992 a un 52% en 2005. Al mismo tiempo, el reparto del comercio mundial entre los países de la OECD ha descendido de un 73% en 1992 a un 64% en 2005. Estos movimientos han conducido a 20 cambios en la estructura de la red comercial mundial, y particularmente, en la forma de evolucionar de la función y la influencia de los mercados emergentes sobre el comercio mundial. Este artículo se ha destinado a aclarar ciertos aspectos de esta cambiante arquitectura comercial utilizando un análisis de redes.

     

订单型操纵的新发展及监管

本文考察了一类新的操纵类型——订单型操纵及其监管。研究发现,对于订单型操纵而言,订单提交频率较高且撤单速度非常快,以避免成交风险;申报买入笔数很多且提交订单额度巨大,但成交笔数极少;买入申报撤单量占该股票当日市场买入总申报比例极高。进一步,操纵者选择的股票往往具有低股价和小市值的特征;操纵行为对价格和流动性仅有短暂的影响。比较发现,中国和美国订单型操纵在制度上存在差异。本文研究对于如何在中国更好地加强这一类新型操纵的监管有着借鉴意义。     

Multiple-limit trades: empirical facts and application to lead–lag measures

Order splitting is a standard practice in trading: traders constantly scan the limit order book and choose to limit the size of their market orders to the quantity available at the best limit, thereby controlling the market impact of their orders. In this article, we focus on the other trades, multiple-limit trades that go through the best available price in the order book, or ‘trade-throughs’. We provide various statistics on trade-throughs: frequency, volume, intraday distribution, market impact, etc., and present a new method for the measurement of lead–lag parameters between assets, sectors or markets.