This paper develops and empirically implements an arbitrage-free, dynamic term structure model with "priced" factor and regime-shift risks. The risk factors are assumed to follow a discrete-time Gaussian process, and regime shifts are governed by a discrete-time Markov process with...

An integrated optimization simulation model has been developed based on an input-output approach to mitigate water pollution and water scarcity through embedding environmental economic policies and applicable technologies into a complex environ-economic system to obtain an optimal set of...

In fast-paced markets, the speed of action is critical to gaining competitive advantage. Yet, who will act quickest to rise to emergent challenges and opportunities? We investigate this question of competitive dynamics by combining behavioral and resource-based theories of the firm to explore...

This study reports on new projections of discharge to the Baltic Sea given possible realisations of future climate and uncertainties regarding these projections. A high-resolution, pan-Baltic application of the Hydrological Predictions for the Environment (HYPE) model was used to make transient...

Since the electricity market reforms of 2002, two large-scale power shortages, one occurring in 2004 and one in 2011, exerted a tremendous impact on the economic development of China and also gave rise to a fierce discussion regarding electricity system reforms. In this paper, the background and...

This paper proposes using an interactive fuzzy satisfying method to solve multi-objective optimization problems in integrated water management of the Yellow River Delta, China. The approach involves economic, social and ecological objectives represented by net returns, water deficiency and...

Using China’s Lake Baiyangdian sub-basin for a case study, we developed an ecologically oriented dam release plan that can be used to define an optimal dam operation scheme that provides both the environmental flows required by bodies of water and wetlands downstream from the Xidayang...

The DX GSHP (direct-expansion ground source heat pump), which uses a buried copper piping network through which refrigerant is circulated, is one type of GSHP (ground source heat pump). This study investigates the performance characteristics of a vertical U-bend direct-expansion ground source...

Sponsored search advertising has grown rapidly since the last decade and is now a significant revenue source for search engines. To ameliorate revenues, search engines often set fixed or variable reserve price to in influence advertisers’ bidding. This paper studies and compares two pricing...