企业持续成长模式探讨——“变异”与持续成长

本文讨论了企业的持续成长模式．在借鉴生物生存机理的基础上．提出了“前变异”与“后变异”的概念．认为“前变异”是企业获取突破性技术的基本模式．“前变异”具有随机性和无指向性的特点．企业中大量存在的非分工合作是产生“前变异”的基础。     

Technological innovation and real investment booms and busts

We investigate why new, high-risk technologies can attract excessive and often unprofitable investment. We develop an equilibrium model in which rational, risk-averse agents overinvest in a risky technology, possibly to the point that its expected return is negative. Overinvestment results from relative wealth concerns which arise endogenously from the imperfect tradability of future endowments. Competition over future consumption leads to an indirect utility for wealth with “keeping up with the Joneses” properties that can induce herding. Because overinvestment increases with the risk of the technology, our model can explain why new, risky technological innovations may promote investment bubbles.     

Relative Guarantees

Many real-world financial contracts have some sort of minimum rate of return guarantee included. One class of these guarantees is so-called relative guarantees, i.e., guarantees where the minimum guaranteed rate of return is given as a function of the stochastic return on a reference portfolio. These guarantees are the topic of this paper. We analyse a wide range of different functional specifications for the minimum guaranteed rate of return, hereunder both so-called maturity and multi-period guarantees. Several closed form solutions are presented.     

基于PSR模型的水电工程生态效应评价指标体系构想

从水电工程生态效应评价指标体系研究的意义出发,通过分析水电工程生态效应评价的内涵,确立了评价指标的选取原则,基于压力(Pressure)-状态(State)-响应(Response)概念模型,构建了以科学、实用和可操作为目标的评价指标体系的框架。     

Competition and Information Production in Market Maker Models

Abstract:   The microstructure literature models the mechanisms through which fundamental information is incorporated into market prices. This paper extends previous models by endogenising information production and analysing incentives for costly information production. In contrast to the existing literature, increasing the number of informed traders can result in reduced price informativeness. When prices have an allocative role this has welfare consequences: the regulatory implications of a dichotomy between private and public incentives for information gathering are discussed.     

NUMERICAL SIMULATIONS OF WHOLE FIELD BEHAVIOR FOR ROUND BUOYANT JET

ＮＵＭＥＲＩＣＡＬＳＩＭＵＬＡＴＩＯＮＳＯＦＷＨＯＬＥＦＩＥＬＤＢＥＨＡＶＩＯＲＦＯＲＲＯＵＮＤＢＵＯＹＡＮＴＪＥＴＬｉＷｅｉ，ＨｕａｉＷｅｎ－ｘｉｎ（ＷｕｈａｎＵｎｉｖｅｒｓｉｔｙｏｆＨｙｄｒａｕｌｉｃａｎｄＥｌｅｃｔｒｉｃＥｎｇｉｎｅｅｒｉｎｇ，...     

基于遗传算法的门限自回归模型在浅层地下水位预测中的应用

提出了建立门限自回归模型的一种简便通用的方法，用遗传算法可同时优化门限值和自回归系数．实例计算的结果说明了其可行性和有效性．该方法在各种工程时序预测中具有广泛的应用价值     

大坝施工混凝土质量的评价体系

本文介绍了大坝施工混凝土质量的评价系统软件的设计思路和设计成果。它利用现代计算机技术和应用模糊数学理论评价混凝土重力坝和拱坝单块和整体的质量。在采用模糊综合评价工程质量中，对不同工艺环节，对坝体不同部位，鉴于其质量要求的差异应赋予不同的权重，在权重的取值上采用了专家调查排序，定量转化的方法是比较适宜的。在程序设计中，评价数学模型采用了BASIC程序，访膜块通过*TXT文件实现了与整个大坝混凝土质量微机管理系统的接口及数据传递。操作运行方便灵活。