In this paper we propose an evolutionary imperfect information game approach to analyzing bidding strategies in electricity markets with price-elastic demand. In previous research, opponent generation companies’ (GENCOs’) bidding strategies were assumed to be fixed or subject to a fixed...

This paper examines Chinese students' risk attitudes using selling and buying experiments with lotteries. We found that subjects were more risk averse during the buying experiment than during the selling experiment, suggesting an endowment effect. In the selling experiment, subjects were risk...

The composition and manufacturing process of a three-layer anticorrosive cool coating for oil storage tanks are introduced. The optical, indoor thermal and physicochemical properties were systematically investigated. In addition, the outdoor cooling effect and the reduction of evaporation losses...

The delay effect, that people discount the near future more than the distant future, has not been verified rigorously. An experiment conducted by us in China confirms that, by separating the delay from the interval, the delay effect exists only within a short delay. The results are reliable,...

This paper examines Chinese students' risk attitude using buying and selling experiments with lotteries. We found that subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the selling experiment, subjects were risk loving...

Modern theory of foreign direct investment (FDI) identifies market frictions such as transport costs and tariffs as major obstacles to a firm's access to foreign markets and as important reasons for two-way FDI. An alternative rationale for two-way FDI is offered in the present paper from a...

We present an arbitrage free theoretical framework for modeling bid and ask prices of dividend paying securities in a discrete time setup using theory of dynamic acceptability indices. In the first part of the paper we develop the theory of dynamic subscale invariant performance measures, on a...

In the crowd security research area a primary concern is to identify the macro state of crowd behaviors to prevent disasters and to supervise the crowd behaviors. The entropy is used to describe the macro state of a self-organization system in physics. The entropy change indicates the system...

We propose a "weighted and sample-size adjusted" Kolmogorov-Smirnov type statistic to test the assumption of conditional symmetry maintained in the symmetrically trimmed least-squares (STLS) approach of Powell (1986b), which is widely used to estimate censored or truncated regression models...

Building on two sources of exogenous shocks to analyst coverage (broker closures and mergers), we explore the causal effects of analyst coverage on mitigating managerial expropriation of outside shareholders. We find that as a firm experiences an exogenous decrease in analyst coverage,...