Abstract:In recen t ly tw en ty years, academ ics at tach mo re w eigh t to the vo lum e research. Especially in term of info rm at ion, researchers believe that t rading vo lum e can p rovide info rm at ion independen t of the p rices. Bu t it st ill rem ain s an open quest ion as how to reconcile the vo lum e part in to the p rices. Th is paper system at ically review the ex isten t research on t rading vo lum e dom est ic and aboard, and indicates that as the cum u lat ive t rading vo lum e is a mono tonou sly increasing funct ion of t im e, t rading vo lum e con tain s no t on ly t im e value facto r ( as does t im e ) , bu t also con tain s such — 10 — 管　理　科　学　学　报　　　　　　　　　　　　　　2002 年2 月 info rm at ion value facto rs as t rading co st s. Then, w e b ring fo rw ard the idea of vo lum e2driving p rice (VDP) and give the dynam ic analyt ic m ethod based on VDP and two m ethods to con st ruct t rading p rocess of p rices. W e po in t ou t that the t im e series under bo th the calendar t im e hypo thesis and the t rading t im e hypo thesis are pecu liar situat ion s of the t rading vo lum e hypo thesis. Th rough the emp irical research of 18 random cho sen stock s, it w as found that w ith low er o rders and few er param eters, th is model has h igher f it t ing capacity and exp lanato ry capacity.

Abstract:T ran sfer p ricing is an impo rtan t p rob lem in m anagerial econom ic analysis. W hen the decen t ralized division s of a company t ran sfer p roduct s to each o ther, a t ran sfer p rice is u sed to charge fo r the p roduct s. Since t ran sfer p rices can affect the goals fo r bo th division s, set t ing these p rices is a sen sit ive m at ter fo r division m anagers. The ob ject ive of t ran sfer p ricing is to encou rage each division m anager to t ran sfer goods betw een division s if overall company incom e increased by do ing so. In th is paper, w e discu ss system at ically the determ in ing m ethod of t ran sfer p ricing of in term ediate p roduct w ithou t ex ternal m arket s. W e discu ss the t ran sfer p ricing p rob lem under the condit ion s that the m arket dem and funct ion of f inal p roduct and the p roduct ion co st funct ion of each in term ediate p roduct are know n and unknow n respect ively. Th reem ethods of theo ret ical value are p resen ted here. Fo r each of the th ree m ethod, w e give the specif ic compu t ing fo rm u las of p ract ical value.

Abstract:W hen select ing a R&D p ro ject, no t on ly does the investo r con sider the techno logical risk, bu t also assesses the op t ion value of R&D. Based on the analysis of op t ion character of R&D and the in t roduct ion ofMo rris, Teisberg and Ko lbe model u sed to calcu late the op t ion value of a R&D, th is art icle describes a m ethod fo r assessing the op t ion value th rough com b in ing qualitat ive analysis in the Mo rris, Teisberg and Ko lbemodel. Mo reover, th is art icle pu t s fo rw ard a po in t of view that the op t ion value of R&D ough t to be assessed step by step.

Abstract:How to m ake the b id st rategy is an impo rtan t p rob lem in virtual en terp rise under the global compet it ion m arket. The feasib le scope of b id p rice is go t ten th rough the stat ic gam ing model. The p rof it facto r is wo rked ou t by u sing the fuzzy comp rehen sive evaluat ion. Th is paper p resen t s a dual comp rison sequencing m ethod to calcu late the w eigh t of each characterist ic du ring the evaluat ion p rocess. P ro ject s can be described by u sing som e key characterist ics. Th is paper p resen t s a fuzzy comp rehen sive evaluat ion m ethod to get the expert’s individual fuzzy p referred o rder to p ro ject s. A cco rding to the requ isit ion of sat isfacto ry degree and the ru le of the cheapest co st, the paper gives ou t the op t im um b id t im e. A nd also som e key ru les, w h ich impact b id p rocess great ly, are listed. The b id st rategy of th is paper gives a new w ay to increase the po ssib ility of w inn ing b id.

Abstract:Ex ternality is u sually to be in econom ical act ivit ies, and p roduct ive ex ternality can u sually be found in the conduct s of f irm s. A s one of the mo st impo rtan t o rgan izat ion fo rm s, indu st rial group shou ld be studied deep ly and system at ically, specially the fo rm at ive cau sat ion of indu st rial group. A cco rding to ou r researches, the vert ical ex ternality in the indu st rial relat ion sh ip s wou ld cau ses the fo rm ing of vert ical indu st rial group , and the ho rizon tal ex ternality wou ld cau ses the fo rm ing of ho rizon tal indu st rial groups.

Abstract:A t the beginn ing of the paper, the m ean ing of th is top ic is analyzed and the app rop riateness of IS2LM model fo r analyzing the Ch ina’s econom y is assessed. O n the basis of them , an IS2LM model is estab lished and est im ated by econom et ric m ethods. F rom th is model, som e impo rtan t suggest ion s can be draw n: 1. F requen t changes of po licies tend to enhance the uncertain ty of m acroeconom ic po licy; 2. A t p resen t, the basis fo r m acroeconom ic po licies to funct ion ex ist s in Ch ina to som e degree; 3. The f iscal po licy can st im u late the ou tpu t mo re eff icien t ly than themonetary one in cu rren t Ch ina. Therefo re, w e shou ld depend mo re on f iscal po licies to recover the declined econom y, bu t the lag of act ive po licies should not be neglected

Abstract:Probability criterion is an investment decision-m ak ing criterion of investo rs in som e cases, it has p ract ical sign if icance, it s investm en t decision2m ak ing is determ ined by the expected retu rn rate. Generally speak ing, differen t investo rsw ill have differen t expected retu rn rates, the secu rity’s retu rn rates in differen t periods w ill have differen t p robab ility dist ribu t ion s and co rrelat ion to each o ther. In th is paper, a p rob lem of two2period investm en t decision2m ak ing w ith p robab ility criterion is p ropo sed, it s m athem at ical model of an op t im al investm en t decision2m ak ing is estab lished. Fo r con t inuou s o r discrete random variab le of secu rity’s retu rn rate, the step s fo r investm en t decision2 m ak ing are derived. F inally, an illu st rat ive examp le is given.

Abstract:Th is paper analyzes a two2stage ho rizon tal differen t iat ion modelw ith netwo rk ex ternality. U nder duopo ly st ructu re, the ex istence of netwo rk ex ternality no t on ly increases con sum ers’ w illingness of buying, bu t in ten sif ies compet it ion betw een f irm s as w ell. The subgam e perfect N ash equ ilib rium is compared w ith that in quadrat ic t ran spo rtat ion co st Ho telling model. F irm s adop t the p rincip le of m ax im um differen t iat ion w hen netwo rk ex ternality is no t too large. F irm s’ p rof it s and p rices decrease w ith netwo rk ex ternality, w hereas con sum er su rp lu s and social net w elfare imp rove. The duopo ly st ructu re canno t ex ist w hen netwo rk ex ternality is too large. U nder monopo ly st ructu re w ith netwo rk ex ternality, social net w elfare imp roves ow ing to h igh p rof it of monopo list, w hereas con sum er su rp lu s rem ain s unchanged.

Abstract:The paper studies the po rtfo lio op t im izat ion p rob lem under V aR m easu re w here the dist ribu t ion s of retu rn s are of fat tails. It has p roved that the op t im al po rtfo lio based on the second o rder fat tails converges to the op t im al po rtfo lio based on the f irst o rder fat tails. The resu lt show s that it need on ly con st ruct the op t im al po rtfo lio based on the f irst o rder fat tails w h ich is enough to guaran tee a good app rox im at ing accu racy w hen the requ ired risk level is suff icien t low. Thu s the comp lex compu tat ion fo r the po rtfo lio op t im izat ion w ith h igher o rder fat tails can be avo ided.

Abstract:In th is paper, w e develop the respon se su rface equat ion s fo r the crit ical value fo r co in tegrat ion test in sm all samp le u singMon te Carlo sim u lat ion. The sim u lat ion resu lt s indicate that the crit ical values are related w ith the num ber of the samp le data as w ell as the lagged o rder fo r co in tegrat ion test. W e also p resen t an emp irical analysis fo r the food con sump t ion of the Ch inese residen t s in cit ies and tow n s.

Abstract:Th is wo rk is devo ted to a dynam ical modeling m ethod of resou rce allocat ion fo r info rm at ion system s based on co lou red Pet ri net s. The m ethod can be u sed in the mo re comp lex en terp rise info rm at ion system s. The def in it ion s of system h ierarchy model and execu t ion graph are p ropo sed. System developers can pay mo re at ten t ion on differen t level of the model acco rding to their concern. A nd the t ran sfo rm at ion m ethod betw een execu t ion graph and pet ri net are analyzed. Based on the p ropo sed dynam ical h ierarchy model, system developers can evaluate the system dynam ical perfo rm ance and adju st the resou rce allocat ion of info rm at ion system s to m eet the perfo rm ance requ irem en t. The modeling p rocess of info rm at ion system s is given in detail. A nd app licat ion examp le is p resen ted.

Abstract:GDSS has great difference w ith t radit ional DSS on wo rk ing style and arch itectu re. In the netwo rk environm en t, decision in o rgan izat ion needs a k ind of open GDSS arch itectu re and cooperat ion wo rk ing style. Th is paper p resen t s a new GDSS arch itectu re based on MA S and a cooperat ion decision model under the arch itectu re. Based on arch itectu re, w e develop a p ro to type of GDSS and f igu re ou t the direct ion of research in the fu tu re.