Regulating prices for shifting between service providers

The price that a regulated access provider charges for shifting customers between service providers has significant welfare implications. Typical regulatory approaches to pricing, such as pricing based on fully allocated cost or incremental cost, ignore the characteristics of consumer demand. A theoretical alternative, Ramsey pricing, considers only the elasticity of demand for given products. This paper directs attention to the competitive process. Using US long-distance telephone services as an example, this paper shows how empirical evidence concerning customer acquisition costs, customer switching costs, and churn among service providers can help to inform price regulation.     

基于FPGA的OBS边缘节点总线控制硬件设计

给出了一种OBS边缘节点总线控制的硬件设计方案。该方案采用循环四次握手的方式完成主模块与其它从模块的通信,用轮询的方式把几个可能引起时序上冲突的信号,按顺序分配到不同的时钟周期上。整个方案以FPGA芯片EP2C20F484C8为基础实现,在Quartus Ⅱ软件上编译通过。仿真结果显示:该方案不仅能够解决时序冲突的问题,而且最高工作频率达到340 MHz,在整个控制模块中占用的逻辑单元(LE)数目仅为0.9%。     

基于竞价上网的煤电纵向一体化及其效率

煤电矛盾的根源是价格双轨制和地区生产不对称性，纵向兼并能有效解决现阶段煤电矛盾，但一体化是否有反竞争效应却值得商榷。本文通过纵向兼并交易的博弈模型，研究电力竞价上网背景下，存在上下游纵向兼并的煤电交易行为均衡路径及其效率，认为煤电纵向兼并的竞争效应与反竞争效应并存，但如果煤炭可现货交易，竞争效应大于反竞争效应。文章最后提出了相应的政策建议。     

Understanding Active Loyalty Behavior in Hotel Reward Programs Through Customers’ Switching Costs and Perceived Program Value

Whether loyalty programs have become part of the lexicon of buzzwords or not, the hotel industry continues to adopt loyalty/rewards programs as a major channel to nurture customers’ active loyalty as well as to reap return business. This study examins the structural relationships among perceived program value, switching costs, and active loyalty. The proposed model is supported by an online survey dataset collected from United States (US) tourists. The findings show that perceived program value is less effective in driving active loyalty compared with switching costs. This implies a need for strategic thinking on the part of hoteliers and the industry. Rather than aggressively spending money or copying schemes used by competitors to gear up program value, the value of a defensive tactic of increasing switching costs should be considered.     

Online loyalty and its interaction with switching barriers

The results of empirical research on online retail switching tendencies is quite mixed and only a few have specifically examined the presence, frequency or impact of switching barriers and switching inducements in the context of online services. Empirical evidence shows that there is “stickiness to certain sites” experienced by online customers and that they do less comparative shopping than might be expected. This paper conceptualises online switching behaviour as the interaction of barriers and inducements (both real and perceived) using Oliver׳s four-stage loyalty model. It also highlights the need to re-examine the concept of online loyalty and its interaction with switching barriers and inducements in the online context.     

Linear predictability vs. bull and bear market models in strategic asset allocation decisions: evidence from UK data

Most papers in the portfolio choice literature have examined linear predictability frameworks based on the idea that simple but flexible Vector Autoregressive (VAR) models can be expanded to produce portfolio allocations that hedge against the bull and bear dynamics typical of financial markets through careful selection of predictor variables that capture business cycles and market sentiment. Yet, a distinct literature exists that shows that non-linear econometric frameworks, such as Markov switching, are also natural tools to compute optimal portfolios arising from the existence of good and bad market states. This paper examines whether and how simple VARs can produce portfolio rules similar to those obtained under a simple Markov switching, by studying the effects of expanding both the order of the VAR and the number/selection of predictor variables included. In a typical stock-bond strategic asset allocation problem for UK data, we compute the out-of-sample certainty equivalent returns for a wide range of VARs and compare these measures of performance with those of non-linear models. We conclude that most VARs cannot produce portfolio rules, hedging demands or (net of transaction costs) out-of-sample performances that approximate those obtained from simple non-linear frameworks.     

三种IP VPN技术实现方案的比较研究

VPN是企业内部网在因特网等会共网络上的延伸。通过一个私用的通道采建立一个安全的私有连接,将运程用户、公司分支机构、公司的业务伙伴等跟公司的内部网连接起来。构成一个扩展的公司企业网。通过虚拟专用网络既实现了传统专用网络所需的性能,同时相对于传统的专用网络又大大降低了网络的运营成本。对VPN技术的原理进行分析研究,可以充分发挥其优势,为企业的现代化管理与经营服务。     

Product Patent Reform and its Impact on Korea's Pharmaceutical Industry

Our analysis focuses on the effect of U.S. government pressure on Korea to adopt product patents for chemical and pharmaceutical products. American pressure began in November 1985 and ended with the Korean Legislature's passage of a new patent law in December 1986. We conduct an event study of the effect of the new patent law on the value of Korean pharmaceutical firms listed on the Korea Stock Exchange. Regression analysis shows that the new law induced excess returns of-74 percent over the 14-month analysis period. The results suggest that adoption of stronger patent laws reduced Korea's wealth. [G14, O34]     

EEC双通道健康度评估方法研究

为了解决航空发动机双通道电子控制器(EEC)两个通道均发生故障时如何评估通道健康度,从而选择主控通道的问题,论文提出了基于逆模型计算发动机推力敏感度的方法,量化不同信号故障对发动机推力的影响程度,依据推力敏感度来评估双通道健康度,协助主控通道选择,最终提高系统的安全性。