This paper introduces quasi-maximum likelihood estimator for multivariate diffusions based on discrete observations. A numerical solution to the stochastic differential equation is obtained by higher order Wagner-Platen approximation and it is used to derive the first two conditional moments....

This paper introduces quasi-maximum likelihood estimator for multivariate diffusions based on discrete observations. A numerical solution to the stochastic differential equation is obtained by higher order Wagner-Platen approximation and it is used to derive the first two conditional moments....

We conduct an incentivized experiment to test whether the willingness to pay is higher for debit cards compared to cash for three consumer products. Our findings support this conjecture also after controlling for cash availability, spending type, price familiarity and consumption habits of the...

With the development of modern agriculture and the further improvement in balancing urban and rural development, rural tourism ushered in a new opportunity for development. However, due to lack of market segmentation, rural tourism in China is facing many problems. the rural tourists will be...

This paper investigates the role of foreign exchange reserve investment to hedge overall macroeconomic risks. Different from usual micro profit-maximizing purpose, the investment with macro objective is unique in the field of foreign reserve investment. We propose a framework of...

Land reform development in China has experienced three great reforms, and new policy of rural land circulation in new period was an inevitable trend of rural economic development. SWOT analytical method was adopted to study the influences of the new policy on rural tourism development, which led...

The thesis summarizes the connotation of rural tourism and divides it into six types, including rural sightseeing and leisure tour, rural sports and fitness tour, rural folk culture tour, rural farming experience tour, rural business activity tour and rural learning and development tour. It...

E-commerce is a complete process that consists of information flow, capital flow, business flow, and logistics. With the development of network and electronic technology, the information flow, capital flow, and business flow can be momentarily available through computer and network communication...

Eutectic molten salt can be used as the latent thermal energy storage (LTES) medium in solar energy applications. In the present study, eutectic salt (50wt% NaNO3, 50wt% KNO3) with a melting temperature of about 220°C was employed as the PCM for the middle-temperature solar energy application,...

This paper is the second portion of a two-part study of the heat transfer characteristics of a shell-tube LTES (latent thermal energy storage) system. The three-dimensional model was used to investigate the discharging characteristics of the LTES system. Pure paraffin and paraffin/expanded...