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...

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 τ. Under minimal assumptions on the random time and on the driving Brownian motions, we study the behavior of the model in...

Though, as a renewable energy resource, alcohol fuel has many advantages in China, it is difficult for diesel engines to operate on alcohol due to its low cetane number and high latent heat of vaporization. This paper proposes an approach to its ignition problem by combining internal exhaust gas...

With life cycle assessment (LCA) methodology, a life cycle model of coal-based dimethyl ether (CBDME) as a vehicle fuel is established for China. Its life cycle from well to wheel are divided into three phases. They are feedstock extraction, fuel production and fuel consumption in vehicle. The...

Because the energy crisis and environmental pollution are significant concern, a next-generation combustion mode for internal combustion engines that can simultaneously reduce exhaust emissions and substantially improve thermal efficiency has attracted increasing attention. In the last two...