County-level town is important space carrier of China’s urbanization and the emphasis and key of strategic distribution for urbanization. Backwardness of county-level towns limits nearby transfer of surplus labor. To promote development of county-level towns, on the basis of classifying...

This paper solves a utility maximization problem under utility-based shortfall risk constraint, by proposing an approach using Lagrange multiplier and convex duality. Under mild conditions on the asymptotic elasticity of the utility function and the loss function, we find an optimal wealth...

This paper studies four trading algorithms of a professional trader at a multilateral trading facility, observing a realistic two-sided limit order book whose dynamics are driven by the order book events. The identity of the trader can be either internalizing or regular, either a hedge fund or a...

This paper solves a Bayes sequential impulse control problem for a diffusion, whose drift has an unobservable parameter with a change point. The partially-observed problem is reformulated into one with full observations, via a change of probability measure which removes the drift. The optimal...

We consider a general class of continuous asset price models where the drift and the volatility functions, as well as the driving Brownian motions, change at a random time $\tau$. Under minimal assumptions on the random time and on the driving Brownian motions, we study the behavior of the model...

The main aim of current study is to evaluate the anti-penetration deformation behavior of an ultra-high strength low alloy armor steel (commercial name: XF1700) at strain rates 0.001/s, 0.1/s (quasi-static), 922/s, 5962/s, 6000/s (dynamic) and temperatures 298K, 373K(0.2Tm), 473K(0.26Tm) and...