Abstract:By adding the expectation restriction in the viable decision model to complex economic system, we construct a three-dimensional quality viable decision model with the resources, inertia and expectation restrictions. Though quality viability kernel can easily guarantee the quality viability of the decision, we can hardly obtain the analytic expression of it. So we make a qualitative analysis on its locations and shapes, as well as successfully divide the whole decision space into several zones with different...

Abstract:This paper extends the Grenadier-Weiss work of the optimal investment strategy for a firm confronted with a sequence of technological innovations, and provides a new model which has analytical solution. This extension entails a substantial increase in the complexity of the model. The innovation investment strategy is viewed as a sequence of embedded options, and the consequences of a current innovation investment decision have ramifications on the future options available to the firm. It sets forth five fun...

Abstract:In the course of decision group meta-synthetic argumentation, it is necessary to analyze and design the attributes, the structure and the relationships of argument information strictly, to explore new visual technology of group argument information. This paper designs a new visual organizing and revealing of argument information to adapt to the group dynamic communication. The semantic relationships between different speeches are classified as supporting, opposing, querying, supplying and correlating. Accor...

Abstract:Many researches showed that the growth model may display an indeterminate equilibrium when there exists the increasing return in the economy. However, these studies either adopted the separable utility between consumption and leisure that implies the unit substitution elasticity of consumption, or depended on the higher supply elasticity of labor. Based on the empirical evidence in Harrison (2003), this paper presents a two-sector (consumption, investment) economic growth model with only externalities in th...

Abstract:Agent-based modeling which is a new approach to the research of the complexity in financial market is promising. Minority game (MG) that is an important agent-based model is introduced in this paper. The results of our simulation show that the fluctuation features of MG that is in crowded region are more similar to real market than that in prefect cooperation region. So we extend the basic MG and present a high adaptable MG. The results of numerical simulation on the new model show that agents will be more ...

Abstract:We examine the impact of commodity taxation and network externality on vertically differentiated product market in an oligopoly. We have considered the case of uniform excise tax rate. The government first commits to the tax rate. Then firms simultaneously choose the qualities of their product. In the following stage they will compete in prices. We show that the tax and network externality have effect on product qualities equilibrium to divert the optimal qualities differentiation. And a low tax rate will a...

Abstract:Multifractal is a powerful tool to describe the complexity of fluctuations in financial markets, and the multifractal spectrum of financial price time series is a concrete and complete description of its complex characteristics. Take the multifractal spectrum of high frequency price time series of Shanghai Stock Exchange Composite index as example, a new market risk measure based on two main parameters of multifractal spectrum is constructed, which may make up for the shortcomings of traditional risk measur...

Abstract:Under the assumption of the movement of rigid, a nonparallel shift model in the term structure of interest rates is developed by introducing Fisher & Weil duration which is a well-known concept in the field of interest risk management. This paper has studied the strategy and replication for portfolio immunization to minimize the risk exposure. Through the experiment of numerical simulation, the risk exposures of the portfolio under different strategies of immunization are quantitatively evaluated by the met...

Abstract:In this paper, combining the stronger ability to deal with some special financial derivative securities given by importance sampling technique and the characters of simple and flexible of mulit-control variable technique and optimum stratified sampling technique, we will put forward some more effective comprehensive variance reduction techniques on Monte Carlo simulation method for pricing financial derivative ble technique and optimum stratified sampling technique into the analysis framework of importance ...

Abstract:The credit risk pricing model constructed in this paper belongs to the Intensity Model Category. We constructed the frame model for term structure model of credit risk, discussed the example of two_factors models and got the closed-form solution to the price of default-able bonds. Finally, we analyzed the pricing problem of credit risk derivatives.

Abstract:This paper studies the evolution of opportunistic behavior in a cooperative R&D market consisting of two types of enterprises: opportunists and reciprocators. The results show that if the enterprises can identify each other, the opportunistic behavior will be extinct. If the enterprise cannot identify each other, the opportunist will prevail. And the validity of monitor mechanism guarding against opportunistic behavior is also studied.

Abstract:In this paper, some typical methods for enterprise-informationzation strategic planning are reviewed. According to the value analysis and the change analysis of business processes, a new framework model for making enterprise-informationzation plan is put forward. The model pursues the capability of responding quickly to the design of value chain, seeks a sort of the dynamic synchronization between the enterprise-informationzation infrastructure and its applications, and wishes that it would be able to suppo...