ISOLATING THE WILD CARD OPTION

Many embedded options are difficult to value the wild card option in the Treasury bond futures contract is one of these embedded options. We illustrate how narrow theoretical bounds on the value of this option, relative to the price of the contract, may be obtained in the presence of other embedded options. Simulations suggest that the value of the wild card option is close to zero. This implies that, in this economy, a simpler pricing model of the Treasury bond futures contract, which ignores the wild card option, will result in only a small loss of accuracy.     

Recreation vehicles : A perspective

The growth and popularity of recreation vehicles in the United States and other countries has implications for the travel and tourism industry. Owners of these vehicles require no separate lodging facilities while traveling and rarely patronize hotels or motels. They often perceive that they spend less for their vacations by staying at travel parks and campgrounds, but survey results and comparative cost analysis reveal that they spend more than automobile travelers when total fixed and variable costs are taken into account. Recreation vehicle (RV) preferences by income category suggest alternative modes of recreation travel and a vacation life style which has considerable appeal. This “RV life style” is characterized by a strong desire to experience the outdoors and socialize with other campers while still retaining the comforts and conveniences of a familiar domicile. Limiting characteristics include the provincial nature of recreation vehicle travel and the impact of mandatory fuel conservation measures.     

商品房买卖中房屋损毁的风险承担问题

本文通过对一房二卖中的风险转移问题进行质疑,从而提出商品房买卖中风险承担的问题,通过分析得出把房屋毁损、灭失的风险负担归于所有权人,而不是房屋占有人,以所有权的转移来确定风险的转移,是符合法律的正当性并有利于房地产市场正常发展的。     

The shipping strategies of internet retailers: Evidence from internet book retailing

Managing the shipment of goods to consumers is one of the central aspects of retail competition on the internet. In this article, we analyze internet retailers’ shipping strategies using data from the internet book retailing industry. We find that, controlling for a variety of observable firm characteristics, firms with lower product prices offer lower shipping fees and higher quality shipping in terms of average delivery time, compared to firms with higher product prices. These patterns cannot be readily reconciled with a large class of models of competition under perfect consumer information. Theories based on imperfect consumer information can explain the findings better.

基于制度变迁的我国商品期货交割演进分析

交割是连接期货市场和现货市场的桥梁和纽带,是促使期货价格和现货价格趋合的制度保证。我国商品期货交割制度是在政府偏好主导期货市场的发展、现货市场基础逐渐加强和借鉴西方成熟市场交割制度的基础上建立和发展起来的,其制度变迁过程反映了从“零交割观点”到“限制交割观点”再到“无限制交割观点”的转变。过去二十多年,中国商品期货交割制度的演变是政府推动的强制性制度变迁;随着中国经济进入新常态,未来交割制度创新的路径应当由强制性变迁向诱致性变迁转变。政府应放松对市场微观主体（投资投机者、套利者、套期保值者和经纪商等）合理的自发行动的限制,充分发挥其主观能动性和创新能力;市场微观主体则需加强与政府监管部门的沟通及互动,以减少制度变迁的成本和阻力。     

基于Web的房地产与土地估价系统的设计和实现

针对目前房地产与土地估价工作的手工方式,设计和实现了一个自动化程度较高的基于网络的房地产与土地估价系统。通过对该系统的结构模型、功能模块及技术特点的分析,并用一个简单的示例说明了系统如何调用各个功能模块来完成估价作业。试用表明,该系统具有较高的应用价值和应用前景。     

基于渠道沟通视角的“中国制造”危机实证研究

继2007年中国制造在国外连续发生市场危机后,2008年由美国次贷危机引发的全球金融危机的到来,更给中国制造企业在国外市场的生存和竞争带来了巨大挑战。针对这一问题,本研究以市场营销基本理论为基础,在“市场营销价值传递系统”概念模型下,从渠道沟通角度对中国制造危机进行了分析。结果显示,仅仅根据渠道沟通质量对企业发生危机与否进行判别的准确率达到56．63％。指出,加强渠道建设和渠道控制对中国企业成功走向国际市场有着重要的意义。     

基于新增费用分担的交货期决策模型

在回顾下游控制交货期决策权并完全承担缩短交货期费用的决策模型的基础上,研究基于上游先公布交货时间下游再决定订货批量的订货过程,并建立缩短交货期的费用按一定比例由上下游分担条件下的供应商的交货期决策模型,同时提出了供应商基于费用分担的交货策略。并通过算例进行了分析与证实。     

基于动态Web页面湖南晚稻品种选择平台的研究

为实现基于动态Web页面湖南晚稻品种选择平台,通过ASP.NET技术实现动态Web页面,应用框架编程思想结合C#编程语言和现代数据库技术实现数据交互式处理,利用MD5算法确保数据的安全性,Windows系列操作系统是该平台实现的重要基础及组成部分。     

铁路货物输送过程组织方法的研究

分析了我国目前铁路货物输送过程组织中存在的运到期限“不可知”问题,提出了基于我国现行铁路运输组织方式的货物输送过程的组织方法,论述了货物输送过程组织计划的编制方法,并通过对昆明铁路局米轨的应用情况的分析,论证了该组织方法具有实际可行性。