This paper presents an inflow-forecasting model and a Piecewise Stochastic Dynamic Programming model (PSDP) to investigate the value of the Quantitative Precipitation Forecasts (QPFs) comprehensively. Recently medium-range quantitative precipitation forecasts are addressed to improve inflow...

In the northwestern Loess Plateau of China, low precipitation results in poor crop yields, with a great fluctuation from year to year. The adoption of gravel–sand mulching has shown improvements in the growth of crops such as watermelon. The ridge and furrow rainwater harvest system (RFRHS)...

In semi-arid areas, crop growth is greatly limited by water. Amount of available water in soil can be increased by surface mulching and other soil management practices. Field experiments were conducted in 2005 and 2006 at Gaolan, Gansu, China, to determine the influence of ridge and furrow...

Gravel and sand mulch is an effective practice in conserving soil and moisture. However, the proportion of different particle size in this kind of mulch layer is an important factor to be considered in order to obtain optimal results from this practice. From 2005 to 2007, a series of experiments...

At one time, risk management was limited to insurance and the avoidance of lawsuits and accidents. The new risk management also includes using tools developed for pricing financial options for the management of financial risks within the firm. Trading in financial markets based on these tools...

In frictionless markets having no arbitrage, the asymptotic zero-coupon rate never falls. The same is true of the long forward rate. The long par-coupon rate can rise and fall due to forward rate movements at short maturities. This paper relates the three types of interest rate and formalizes...

This note examines the effect of changes in risk aversion on the optimal portfolio choice in a complete market. It is shown that an agent who is less risk averse in the Pratt (1964) sense than another will choose a portfolio whose payoff is distributed as the other's payoff plus a nonnegative...