The digital wave is reshaping the global economic landscape with unprecedented force,especially in the dynamic and promising ASEAN region.Southeast Asia,a multicultural gathering place composed of ten countries,is exp...The digital wave is reshaping the global economic landscape with unprecedented force,especially in the dynamic and promising ASEAN region.Southeast Asia,a multicultural gathering place composed of ten countries,is experiencing profound changes due to the digital revolution,and its marketing model is also displaying new vitality.With soaring internet penetration,widespread use of smartphones,and the booming rise of social media,ASEAN markets have become at the forefront of global digital marketing innovation.This transformation is not only about the application of technology but also involves a comprehensive shift in thinking,consumer behavior,and business strategy.The purpose of this paper is to explore in depth how ASEAN marketing models are innovating in this era and to identify future trends,with a view to providing insights for companies to help them remain competitive in the rapidly changing market.展开更多
The function of E-commerce is becoming more and more widely applied to many fields,which bring about some new challenges and opportunities for the construction of marketing model.It is proved that the more E-com- merc...The function of E-commerce is becoming more and more widely applied to many fields,which bring about some new challenges and opportunities for the construction of marketing model.It is proved that the more E-com- merce applied to the construction of marketing,the more precision of forecast for the enterprises can acquire,which is very helpful for the production and marketing of enterprises.Therefore,the research on the E-commerce applied to the construction of marketing is popular today.This paper applie...展开更多
The development ofinternet technology makes the aquatic products retailers change their traditional intermediary function in succession, and improve the information flow in the market relying on internet technology. T...The development ofinternet technology makes the aquatic products retailers change their traditional intermediary function in succession, and improve the information flow in the market relying on internet technology. This text aims to discuss the feasibility of adoption of drop-shipping model by the aquatic products e-retailers under "Internet +" and its influence factors, and provide the aquatic products e-retailers with relevant advices and suggestions on adoption of drop-shipping model.展开更多
We present a multifractal detrended fluctuation analysis (MFDFA) of the time series of return generated by our recently-proposed Ising financial market model with underlying small world topology. The result of the M...We present a multifractal detrended fluctuation analysis (MFDFA) of the time series of return generated by our recently-proposed Ising financial market model with underlying small world topology. The result of the MFDFA shows that there exists obvious multifractal scaling behavior in produced time series. We compare the MFDFA results for original time series with those for shuffled series, and find that its multifractal nature is due to two factors: broadness of probability density function of the series and different correlations in small- and large-scale fluctuations. This may provide new insight to the problem of the origin of multifractality in financial time series.展开更多
This paper presents and analyses the internal and external efficiencies of equipment maintenance, and presents that the objective of maintenance is the maximum external efficiency. It defines generalized reliability d...This paper presents and analyses the internal and external efficiencies of equipment maintenance, and presents that the objective of maintenance is the maximum external efficiency. It defines generalized reliability degree of equipment and deduces the correspondent calculating method. It overcomes the defect that traditional calculating method of reliability degree has, which only considers the factor of time not function, therefore we establish a market decision model of equipment maintenance based on it. This model can determine the marginal efficiency of maintenance investment and critical value of generalized reliability degree when it reaches break-even point. After combining the equipment maintenance with economical benefit of enterprise and marketing situation of products, an optimal maintenance strategy will be got. It provides a new method for scientific and rational decisions of equipment maintenance.展开更多
The marketing share model of price and advertising in a duopoly market was studied in this paper. Market response curves of price and advertising were presented to calculate the reasonable range based on the market fo...The marketing share model of price and advertising in a duopoly market was studied in this paper. Market response curves of price and advertising were presented to calculate the reasonable range based on the market forecast results. The interaction effect of price and advertising was considered,and the game theory was applied to a two-stage price and advertising competition which involved the market share model. A marketing decision support system (MDSS) was developed and simulation data was provided to give the solutions. The operation results show that the leading enterprise makes higher price,spends more on advertising,and earns more profit,while the small-scale enterprise has to lower the price,spend less on advertising,and has slightly higher profit rate. The system is shown to be adaptable to a wide variety of realistic situations.展开更多
The methods adopted by static physics corroborating the existence of electromagnetic forces are applicable to the theory of financial markets. Perceived from a classically physical angle, the financial market is defin...The methods adopted by static physics corroborating the existence of electromagnetic forces are applicable to the theory of financial markets. Perceived from a classically physical angle, the financial market is defined as a system composed of several individual entries cooperating upon electromagnetic principles. The approach concerned gives rise to a certain model of financial market, otherwise known as a minority game. In the case of minority game, the allocation of securities and funds is conditioned exclusively upon the fluctuation of prices, where a higher tendency to purchase goods and stocks results in the scale being more profitable and vice versa. Thus players from a minority group gain a prevailing position.展开更多
In order to overcome the shortcomings brought up by the single-layer agency relation analyses of agency problems within enterprise group, two-tiered agency models in the internal capital market are set up, and how ren...In order to overcome the shortcomings brought up by the single-layer agency relation analyses of agency problems within enterprise group, two-tiered agency models in the internal capital market are set up, and how rent-seeking behaviors of member firms' managers affect investment allocation decision made by headquarters manager is demonstrated. From equilibrium solutions of the model, it's inferred that the larger the divergence of member firm's productivity is, the higher probability of investment allocation distortion is.展开更多
In recent years, the speed of urban development becomes faster and faster with expanding of land construction scale, and a lot of idle lands lead to serious land waste. This paper builds game model by carrying out a m...In recent years, the speed of urban development becomes faster and faster with expanding of land construction scale, and a lot of idle lands lead to serious land waste. This paper builds game model by carrying out a market allocation analysis and applying economic game theory to the analysis of current idle land problem; it gets six kinds of results through analyzing the game model of idle land market, and the final Nash equilibrium is(system innovation, publicly traded) through contrastive to help balance the game relationship between government and the user of idle land and raise some new scientific and rational institutions to serve as future references for effective usage of idle land.展开更多
This paper examines the forecasting performance of different kinds of GARCH model (GRACH, EGARCH, TARCH and APARCH) under the Normal, Student-t and Generalized error distributional assumption. We compare the effect ...This paper examines the forecasting performance of different kinds of GARCH model (GRACH, EGARCH, TARCH and APARCH) under the Normal, Student-t and Generalized error distributional assumption. We compare the effect of different distributional assumption on the GARCH models. The data we analyze are the daily stocks indexes for Shenzhen Stock Exchange (SSE) in China from April 3^rd, 1991 to April 14^th, 2005. We find that improvements of the overall estimation are achieved when asymmetric GARCH models are used with student-t distribution and generalized error distribution. Moreover, it is found that TARCH and GARCH models give better forecasting performance than EGARCH and APARCH models. In forecasting performance, the model under normal distribution gives more accurate forecasting performance than non-normal densities and generalized error distributions clearly outperform the student-t densities in case of SSE.展开更多
The present paper continues the topic of our recent paper in the same journal,aiming to show the role of structural stability in financial modeling.In the context of financial market modeling,structural stability mean...The present paper continues the topic of our recent paper in the same journal,aiming to show the role of structural stability in financial modeling.In the context of financial market modeling,structural stability means that a specific“no-arbitrage”property is unaffected by small(with respect to the Pompeiu–Hausdorff metric)perturbations of the model’s dynamics.We formulate,based on our economic interpretation,a new requirement concerning“no arbitrage”properties,which we call the“uncertainty principle”.This principle in the case of no-trading constraints is equivalent to structural stability.We demonstrate that structural stability is essential for a correct model approximation(which is used in our numerical method for superhedging price computation).We also show that structural stability is important for the continuity of superhedging prices and discuss the sufficient conditions for this continuity.展开更多
It has been widely accepted that auctioning which is the pricing approach with minimal information requirement is a proper tool to manage scare network resources. Previous works focus on Vickrey auction which is incen...It has been widely accepted that auctioning which is the pricing approach with minimal information requirement is a proper tool to manage scare network resources. Previous works focus on Vickrey auction which is incentive compatible in classic auction theory. In the beginning of this letter, the faults of the most representative auction-based mechanisms are discussed. And then a new method called Uniform-Price Auction (UPA), which has the simplest auction rule is proposed and its incentive compatibility in the network environment is also proved. Finally, the basic mode is extended to support applications which require minimum bandwidth guarantees for a given time period by introducing derivative market, and a market mechanism for network resource allocation which is predictable, riskless, and simple for end-users is completed.展开更多
Overall level of export fluctuations of the export-oriented countries with rising export volume partly stem from the market failure caused by free choice of export enterprises,some government intervention thus may be ...Overall level of export fluctuations of the export-oriented countries with rising export volume partly stem from the market failure caused by free choice of export enterprises,some government intervention thus may be necessary.To reduce the level of fluctuations of the export growth rates in these countries,this paper,taking the significant differences of the exports among various markets into account and thus using a new index named relative variance to measure the export volatility risks,proposes a model of merchandise market portfolio,a modified version of Markowitz model,available to provide explicit guidelines for the firms,the industries and even the whole country to optimize the structure of their export markets.An application of this model to the case of China’s apple is then discussed.The results show that the market share of China’s apple in 7 sub-markets should be redistributed drastically.展开更多
The main objective of this paper is to show an overview analysis of market power issues.Market power reflects the scarcity of power supply.It is the ability of a particular seller or group of sellers to maintain price...The main objective of this paper is to show an overview analysis of market power issues.Market power reflects the scarcity of power supply.It is the ability of a particular seller or group of sellers to maintain prices profitably above competitive levels for a significant period of time.Because the electric power system has its own characteristics that are different to other economic systems,both physical factors and economic factors of power system are key elements on this definition.We study some cases here,including different line limit levels,load levels and bid strategy through a market model based on OPF (optimal power flow) with a decommitment algorithm.展开更多
Under the condition of asymmetric information,the Spence 's Job Market Signaling Model is generally applied to inspect the design capability of a designer and his labor and efforts to be invested; however,since th...Under the condition of asymmetric information,the Spence 's Job Market Signaling Model is generally applied to inspect the design capability of a designer and his labor and efforts to be invested; however,since the"prior probability"and "posterior probability"have great uncertainties,the practical effect of this model is poor. On the basis of analyzing reverse selection questions,this paper provides a design capability screening model,which can make a designer automatically expose his hidden information so that necessary actions can be taken as required by the owner to realize risk sharing. A calculation example is finally given to demonstrate that the new model is helpful for an owner to select a designer with high professional level and to lead the designer to work hard,so it is of significant application value.展开更多
[Method]The paper was to understand factors influencing the channel choice of consumers buying beef.[Method]The selection behavior and influencing factors of beef consumption of Yanji urban residents in supermarkets a...[Method]The paper was to understand factors influencing the channel choice of consumers buying beef.[Method]The selection behavior and influencing factors of beef consumption of Yanji urban residents in supermarkets and farmers’market were analyzed by constructing a binary Logistic model.[Result]Education level,monthly household income and household food expenditure to total income were positively correlated with beef purchase in supermarket,while age was negatively correlated with beef purchase in supermarket.[Conclusion]The main reasons that consumers buy beef in supermarket were type of beef,brand and clean environment,and in farmers’market were price,freshness and consumption habit.展开更多
While much of international marketing research involves two or more levels, limited work in the international marketing literature uses hierarchical linear modeling to examine different level effects. This study condu...While much of international marketing research involves two or more levels, limited work in the international marketing literature uses hierarchical linear modeling to examine different level effects. This study conducts a thorough literature review on hierarchical linear modeling (HLM) in 28 international marketing papers that employed HLM from 2005-2014 and evaluates the use of HLM in these papers on the objects, operating levels, and other issues. We call for more applications of HLM in international marketing research, particularly for research on emerging markets with significant sub-national and institutional variations. The paper provides an illustrative empirical study that employs HLM to test the moderating role of industry-level government subsidies in the relationship between firm innovation and exporter performance in China.展开更多
Modeling of ancillary services market can be described as institutional arrangements for establishing ancillary services management in deregulated electricity market. Models of the national ancillary services markets ...Modeling of ancillary services market can be described as institutional arrangements for establishing ancillary services management in deregulated electricity market. Models of the national ancillary services markets are market models which offer transmission system operator efficient procurement of ancillary services, reducing the system management risk, more competitive electricity market, better utilization of production facilities and complete deregulation of electricity markets. This paper deals with current mode of ancillary services market and potential market development in Croatia. Described models are used for establishing market of ancillary services which should occur in parallel with the electricity market.展开更多
Margin rules are very important rules in futures market. This paper provides a new Value-at-Risk (VaR) approach which uses GARCH model to set margin levels. The new approach overcomes the limitation of the hypothesi...Margin rules are very important rules in futures market. This paper provides a new Value-at-Risk (VaR) approach which uses GARCH model to set margin levels. The new approach overcomes the limitation of the hypothesis of normal distribution in traditional methods and improves the estimation precision. We use the data of metal futures in China's Shanghai Futures Exchange (SHFE) to have an empirical study.展开更多
Market traders buy and sell volatile assets frequently,with a goal to maximize their total return.There is usually a commission for each purchase and sale.Two such assets are gold and bitcoin.In order to solve the exi...Market traders buy and sell volatile assets frequently,with a goal to maximize their total return.There is usually a commission for each purchase and sale.Two such assets are gold and bitcoin.In order to solve the existing issues of purchases between gold and bitcoin,given that we have 1,000 USD,what strategies should we take to maximize our profits?In this article,the authors established seven models to predict the value of gold and bitcoins and how you should buy them,as the trends of value fluctuate,our models must be accurate enough to avoid being influenced.Targeted at that,the content is divided into three parts.For part 1:The authors selected several indicators that feature how the stock runs.For instance,price of gold and profit of gold to build first two models,which are the risk of investment model and the judgment on bull-or-bear market model.Then we use these models to evaluate whether it is safe to invest.The models are as follows:bear-bull market judgment model,risk of investment evaluation model,prediction model,trade model.For part 2:Based on the data concerned,the authors established the time series model to predict the way the market fluctuates.Meanwhile,the result of this model can be applied in correcting the results of former two models so as to make it more accurate.For part 3:The authors combined models above to give the best trading strategy.In addition,we improved the models by adding more indicators to make it more precise.We hope that by applying our models and strategies,you can successfully maximize your profit.展开更多
文摘The digital wave is reshaping the global economic landscape with unprecedented force,especially in the dynamic and promising ASEAN region.Southeast Asia,a multicultural gathering place composed of ten countries,is experiencing profound changes due to the digital revolution,and its marketing model is also displaying new vitality.With soaring internet penetration,widespread use of smartphones,and the booming rise of social media,ASEAN markets have become at the forefront of global digital marketing innovation.This transformation is not only about the application of technology but also involves a comprehensive shift in thinking,consumer behavior,and business strategy.The purpose of this paper is to explore in depth how ASEAN marketing models are innovating in this era and to identify future trends,with a view to providing insights for companies to help them remain competitive in the rapidly changing market.
基金This research was supported by the National Social Sci-ence Foundation of China under Grant 06CJL019.
文摘The function of E-commerce is becoming more and more widely applied to many fields,which bring about some new challenges and opportunities for the construction of marketing model.It is proved that the more E-com- merce applied to the construction of marketing,the more precision of forecast for the enterprises can acquire,which is very helpful for the production and marketing of enterprises.Therefore,the research on the E-commerce applied to the construction of marketing is popular today.This paper applie...
文摘The development ofinternet technology makes the aquatic products retailers change their traditional intermediary function in succession, and improve the information flow in the market relying on internet technology. This text aims to discuss the feasibility of adoption of drop-shipping model by the aquatic products e-retailers under "Internet +" and its influence factors, and provide the aquatic products e-retailers with relevant advices and suggestions on adoption of drop-shipping model.
基金Supported by the Scientific Research Foundation for the Returned Overseas Chinese Scholars of State Education Ministry
文摘We present a multifractal detrended fluctuation analysis (MFDFA) of the time series of return generated by our recently-proposed Ising financial market model with underlying small world topology. The result of the MFDFA shows that there exists obvious multifractal scaling behavior in produced time series. We compare the MFDFA results for original time series with those for shuffled series, and find that its multifractal nature is due to two factors: broadness of probability density function of the series and different correlations in small- and large-scale fluctuations. This may provide new insight to the problem of the origin of multifractality in financial time series.
文摘This paper presents and analyses the internal and external efficiencies of equipment maintenance, and presents that the objective of maintenance is the maximum external efficiency. It defines generalized reliability degree of equipment and deduces the correspondent calculating method. It overcomes the defect that traditional calculating method of reliability degree has, which only considers the factor of time not function, therefore we establish a market decision model of equipment maintenance based on it. This model can determine the marginal efficiency of maintenance investment and critical value of generalized reliability degree when it reaches break-even point. After combining the equipment maintenance with economical benefit of enterprise and marketing situation of products, an optimal maintenance strategy will be got. It provides a new method for scientific and rational decisions of equipment maintenance.
文摘The marketing share model of price and advertising in a duopoly market was studied in this paper. Market response curves of price and advertising were presented to calculate the reasonable range based on the market forecast results. The interaction effect of price and advertising was considered,and the game theory was applied to a two-stage price and advertising competition which involved the market share model. A marketing decision support system (MDSS) was developed and simulation data was provided to give the solutions. The operation results show that the leading enterprise makes higher price,spends more on advertising,and earns more profit,while the small-scale enterprise has to lower the price,spend less on advertising,and has slightly higher profit rate. The system is shown to be adaptable to a wide variety of realistic situations.
文摘The methods adopted by static physics corroborating the existence of electromagnetic forces are applicable to the theory of financial markets. Perceived from a classically physical angle, the financial market is defined as a system composed of several individual entries cooperating upon electromagnetic principles. The approach concerned gives rise to a certain model of financial market, otherwise known as a minority game. In the case of minority game, the allocation of securities and funds is conditioned exclusively upon the fluctuation of prices, where a higher tendency to purchase goods and stocks results in the scale being more profitable and vice versa. Thus players from a minority group gain a prevailing position.
文摘In order to overcome the shortcomings brought up by the single-layer agency relation analyses of agency problems within enterprise group, two-tiered agency models in the internal capital market are set up, and how rent-seeking behaviors of member firms' managers affect investment allocation decision made by headquarters manager is demonstrated. From equilibrium solutions of the model, it's inferred that the larger the divergence of member firm's productivity is, the higher probability of investment allocation distortion is.
基金Supported by Chinese Tobacco Science and Technology Project(YATAS-KJ-040)
文摘In recent years, the speed of urban development becomes faster and faster with expanding of land construction scale, and a lot of idle lands lead to serious land waste. This paper builds game model by carrying out a market allocation analysis and applying economic game theory to the analysis of current idle land problem; it gets six kinds of results through analyzing the game model of idle land market, and the final Nash equilibrium is(system innovation, publicly traded) through contrastive to help balance the game relationship between government and the user of idle land and raise some new scientific and rational institutions to serve as future references for effective usage of idle land.
文摘This paper examines the forecasting performance of different kinds of GARCH model (GRACH, EGARCH, TARCH and APARCH) under the Normal, Student-t and Generalized error distributional assumption. We compare the effect of different distributional assumption on the GARCH models. The data we analyze are the daily stocks indexes for Shenzhen Stock Exchange (SSE) in China from April 3^rd, 1991 to April 14^th, 2005. We find that improvements of the overall estimation are achieved when asymmetric GARCH models are used with student-t distribution and generalized error distribution. Moreover, it is found that TARCH and GARCH models give better forecasting performance than EGARCH and APARCH models. In forecasting performance, the model under normal distribution gives more accurate forecasting performance than non-normal densities and generalized error distributions clearly outperform the student-t densities in case of SSE.
文摘The present paper continues the topic of our recent paper in the same journal,aiming to show the role of structural stability in financial modeling.In the context of financial market modeling,structural stability means that a specific“no-arbitrage”property is unaffected by small(with respect to the Pompeiu–Hausdorff metric)perturbations of the model’s dynamics.We formulate,based on our economic interpretation,a new requirement concerning“no arbitrage”properties,which we call the“uncertainty principle”.This principle in the case of no-trading constraints is equivalent to structural stability.We demonstrate that structural stability is essential for a correct model approximation(which is used in our numerical method for superhedging price computation).We also show that structural stability is important for the continuity of superhedging prices and discuss the sufficient conditions for this continuity.
基金Supported by Hubei Provincial Foundation for Natural Science under Contract 99J041 and 2001ABB104
文摘It has been widely accepted that auctioning which is the pricing approach with minimal information requirement is a proper tool to manage scare network resources. Previous works focus on Vickrey auction which is incentive compatible in classic auction theory. In the beginning of this letter, the faults of the most representative auction-based mechanisms are discussed. And then a new method called Uniform-Price Auction (UPA), which has the simplest auction rule is proposed and its incentive compatibility in the network environment is also proved. Finally, the basic mode is extended to support applications which require minimum bandwidth guarantees for a given time period by introducing derivative market, and a market mechanism for network resource allocation which is predictable, riskless, and simple for end-users is completed.
基金the project(2018GWQNCX038)for innovative talents in regular universities of the Department of education of Guangdong Province in 2019.
文摘Overall level of export fluctuations of the export-oriented countries with rising export volume partly stem from the market failure caused by free choice of export enterprises,some government intervention thus may be necessary.To reduce the level of fluctuations of the export growth rates in these countries,this paper,taking the significant differences of the exports among various markets into account and thus using a new index named relative variance to measure the export volatility risks,proposes a model of merchandise market portfolio,a modified version of Markowitz model,available to provide explicit guidelines for the firms,the industries and even the whole country to optimize the structure of their export markets.An application of this model to the case of China’s apple is then discussed.The results show that the market share of China’s apple in 7 sub-markets should be redistributed drastically.
基金This paper supported by National Natural Science Foundation of China (50079006).
文摘The main objective of this paper is to show an overview analysis of market power issues.Market power reflects the scarcity of power supply.It is the ability of a particular seller or group of sellers to maintain prices profitably above competitive levels for a significant period of time.Because the electric power system has its own characteristics that are different to other economic systems,both physical factors and economic factors of power system are key elements on this definition.We study some cases here,including different line limit levels,load levels and bid strategy through a market model based on OPF (optimal power flow) with a decommitment algorithm.
基金Sponsored by State Key Laboratory of Subtropical Building Science,Autonomous Research Topics(Grant No.x2tjc7100870)
文摘Under the condition of asymmetric information,the Spence 's Job Market Signaling Model is generally applied to inspect the design capability of a designer and his labor and efforts to be invested; however,since the"prior probability"and "posterior probability"have great uncertainties,the practical effect of this model is poor. On the basis of analyzing reverse selection questions,this paper provides a design capability screening model,which can make a designer automatically expose his hidden information so that necessary actions can be taken as required by the owner to realize risk sharing. A calculation example is finally given to demonstrate that the new model is helpful for an owner to select a designer with high professional level and to lead the designer to work hard,so it is of significant application value.
基金Supported by"Twelfth Five-year"Social Science Research Project of Jilin Department of Education
文摘[Method]The paper was to understand factors influencing the channel choice of consumers buying beef.[Method]The selection behavior and influencing factors of beef consumption of Yanji urban residents in supermarkets and farmers’market were analyzed by constructing a binary Logistic model.[Result]Education level,monthly household income and household food expenditure to total income were positively correlated with beef purchase in supermarket,while age was negatively correlated with beef purchase in supermarket.[Conclusion]The main reasons that consumers buy beef in supermarket were type of beef,brand and clean environment,and in farmers’market were price,freshness and consumption habit.
基金The anthors are grateful for the financial support of the Research Funding for the Doctoral Programs of Higher Education, Ministry of Education, China (20120004120005), the Beijing Youth Talent Project, and National Natural Science Foundation of China (71202149).
文摘While much of international marketing research involves two or more levels, limited work in the international marketing literature uses hierarchical linear modeling to examine different level effects. This study conducts a thorough literature review on hierarchical linear modeling (HLM) in 28 international marketing papers that employed HLM from 2005-2014 and evaluates the use of HLM in these papers on the objects, operating levels, and other issues. We call for more applications of HLM in international marketing research, particularly for research on emerging markets with significant sub-national and institutional variations. The paper provides an illustrative empirical study that employs HLM to test the moderating role of industry-level government subsidies in the relationship between firm innovation and exporter performance in China.
文摘Modeling of ancillary services market can be described as institutional arrangements for establishing ancillary services management in deregulated electricity market. Models of the national ancillary services markets are market models which offer transmission system operator efficient procurement of ancillary services, reducing the system management risk, more competitive electricity market, better utilization of production facilities and complete deregulation of electricity markets. This paper deals with current mode of ancillary services market and potential market development in Croatia. Described models are used for establishing market of ancillary services which should occur in parallel with the electricity market.
文摘Margin rules are very important rules in futures market. This paper provides a new Value-at-Risk (VaR) approach which uses GARCH model to set margin levels. The new approach overcomes the limitation of the hypothesis of normal distribution in traditional methods and improves the estimation precision. We use the data of metal futures in China's Shanghai Futures Exchange (SHFE) to have an empirical study.
文摘Market traders buy and sell volatile assets frequently,with a goal to maximize their total return.There is usually a commission for each purchase and sale.Two such assets are gold and bitcoin.In order to solve the existing issues of purchases between gold and bitcoin,given that we have 1,000 USD,what strategies should we take to maximize our profits?In this article,the authors established seven models to predict the value of gold and bitcoins and how you should buy them,as the trends of value fluctuate,our models must be accurate enough to avoid being influenced.Targeted at that,the content is divided into three parts.For part 1:The authors selected several indicators that feature how the stock runs.For instance,price of gold and profit of gold to build first two models,which are the risk of investment model and the judgment on bull-or-bear market model.Then we use these models to evaluate whether it is safe to invest.The models are as follows:bear-bull market judgment model,risk of investment evaluation model,prediction model,trade model.For part 2:Based on the data concerned,the authors established the time series model to predict the way the market fluctuates.Meanwhile,the result of this model can be applied in correcting the results of former two models so as to make it more accurate.For part 3:The authors combined models above to give the best trading strategy.In addition,we improved the models by adding more indicators to make it more precise.We hope that by applying our models and strategies,you can successfully maximize your profit.