EXPECTED DISCOUNTED PENALTY FUNCTION OF ERLANG(2) RISK MODEL WITH CONSTANT INTEREST

The purpose of this paper is to consider the expected value of a discounted penalty due at ruin in the Erlang（2） risk process under constant interest force. An integro-differential equation satisfied by the expected value and a second-order differential equation for the Laplace transform of the expected value are derived. In addition, the paper will present the recursive algorithm for the joint distribution of the surplus immediately before ruin and the deficit at ruin. Finally, by the differential equation, the defective renewal equation and the explicit expression for the expected value are given in the interest-free case.

Discrete-Time Hybrid Decision Processes: The Discounted Case

This paper is a sequel to Kageyama et al. [1], in which a Markov-type hybrid process has been constructed and the corresponding discounted total reward has been characterized by the recursive equation. The objective of this paper is to formulate a hybrid decision process and to give the existence and characterization of optimal policies.

The Expected Discounted Tax Payments on Dual Risk Model under a Dividend Threshold

In this paper, we consider the dual risk model in which periodic taxation are paid according to a loss-carry-forward system and dividends are paid under a threshold strategy. We give an analytical approach to derive the expression of gδ(u) (i.e. the Laplace transform of the first upper exit time). We discuss the expected discounted tax payments for this model and obtain its corresponding integro-differential equations. Finally, for Erlang (2) inter-innovation distribution, closedform expressions for the expected discounted tax payments are given.

EXPECTED DISCOUNTED PENALTY FUNCTION AT RUIN FOR RISK PROCESS PERTURBED BY DIFFUSION UNDER INTEREST FORCE

In this article, the risk process perturbed by diffusion under interest force is considered, the continuity and twice continuous differentiability for Фδ（u,w） are discussed,the Feller expression and the integro-differential equation satisfied by Фδ （u ,w） are derived. Finally, the decomposition of Фδ（u,w） is discussed, and some properties of each decomposed part of Фδ（u,w） are obtained. The results can be reduced to some ones in Gerber and Landry＇s,Tsai and Willmot＇s, and Wang＇s works by letting parameter δ and （or） a be zero.

Stability Estimation for Markov Control Processes with Discounted Cost

This article explores controllable Borel spaces, stationary, homogeneous Markov processes, discrete time with infinite horizon, with bounded cost functions and using the expected total discounted cost criterion. The problem of the estimation of stability for this type of process is set. The central objective is to obtain a bounded stability index expressed in terms of the Lévy-Prokhorov metric;likewise, sufficient conditions are provided for the existence of such inequalities.

Asymptotics of discounted aggregate claims for renewal risk model with risky investment

Under the assumption that the claim size is subexponentially distributed and the insurance surplus is totally invested in risky asset, a simple asymptotic relation of tail probability of discounted aggregate claims for renewal risk model within finite horizon is obtained. The result extends the corresponding conclusions of related references.

Production Decision Based on Discounted Price and Delivery Frequency for Garment Original Equipment Manufacturer with Constrained Capacity

Original equipment manufacturers(OEM) have never been so important and powerful as it is today in garment manufacturing industry.The OEMsupplier's production decisions always have a great impact on the market performance and the profits of a garment brand manufacturer.With constrained capacity and multiply buyers,howto make reasonable production decisions is an urgent problem for OEMsuppliers.A price discount model with a single OEMsupplier and two buyers is proposed to deal with the problem.Based on this model,the OEMsupplier could satisfy buyers' demands and guarantee their profits as well through adjusting price and delivery frequency.A numerical example validates the validity of the model.

Moments of Discounted Dividend Payments in the Sparre Andersen Model with a Constant Dividend Barrier

We consider the Sparre Andersen risk process in the presence of a constant dividend barrier, and propose a new expected discounted penalty function which is different from that of Gerber and Shiu. We find that iteration mothed can be used to compute the values of expected discounted dividends until ruin and the new penalty function. Applying the new function and the recursion method proposed in Section 5, we obtain the arbitrary moments of discounted dividend payments until ruin.

Urban Forest and Tree Valuation Using Discounted Cash Flow Analysis: Impact of Economic Components

Discounted cash flow analysis is one of the standard methods used to value urban forests and trees. It involves calculating today’s value for all benefits and costs attributed to an investment;that is discounting all cash flows to today’s value using an appropriate interest rate. This requires each benefit and cost be stated in terms of its cash flow. Urban tree benefits are complex. Little notice is given to the components of these benefits. Total urban tree benefits are a summation of partial benefits, including property value increase, storm water reduction, air quality improvement, carbon sequestration, natural gas savings, and electricity savings. We discuss the nature of these partial benefits, especially the geographical, temporal, diameter size, and rate of growth differences. These differences are even reflected in nursery stock valuation. Net present value analysis is used to illustrate the impact of these differences on financial return. An understanding of these components will prove valuable to those attempting to estimate urban forest and tree benefits.

The expected discounted penalty function for a kind of time-correlated risk model based on the renewal argument in consideration of the by-claim

In this paper, the expected discounted penalty function is considered in the risk process with the time-correlated claims, that is, every main claim can cause a by-claim but the occurrence of the by-claim may be delayed. By the renewal argument, it is shown that the expected value satisfies a system of integro-differential equations. Moreover, the explicit expression for the Laplace transform of the expected value is derived by means of Rouche＇s theorem. A numerical example is also given for illustrating the result.

Continuing Value Calculation with Discounted Cash Flows Method： An Application Example for Tekart Tourism Establishment Whose Shares Are Dealt in Istanbul Stock Exchange

Valuation is stated as monetary value belonging to firm assets （Verginis ＆ Taylor, 2004）. According to M. L. Rock, R. H. Rock, and Sikora （1994）, valuation is the answer of the following questions： What is the maximum price that will be paid for the firm？ What are the risk areas？ What are the results of cash flows, profitability, and balance-sheet？ Chambers （2005, p. 5）, on the other hand, estimated a probable price that will be paid for the goods and service at a specific time. For the calculation of continuing value （CV）, Verginis and Taylor （2004） used discounted cash flows （DCF） method and Onal, Karadeniz, and Kandlr （2005） used economic profit method. Klrh （2005） suggested Continuous and Constant Growing Model （Gordon Model）, Value Driver Model, and Economic Profit Model. In this study, DCF which is suggested by Onal et al. （2005） and Verginis and Taylor （2004） is used for the aim of determining CV of the firm at issue. In this study, analyses are made by using the financial statement data of a tourism business whose shares are dealt in Istanbul Stock Exchange. In consequence of the calculations, CV of the examined firm is found to be 7,485,402 TL and firm value is found to be 15,195,366 TL.

Asymptotic Evaluations of the Stability Index for a Markov Control Process with the Expected Total Discounted Reward Criterion

In this work, for a control consumption-investment process with the discounted reward optimization criteria, a numerical estimate of the stability index is made. Using explicit formulas for the optimal stationary policies and for the value functions, the stability index is explicitly calculated and through statistical techniques its asymptotic behavior is investigated (using numerical experiments) when the discount coefficient approaches 1. The results obtained define the conditions under which an approximate optimal stationary policy can be used to control the original process.

Examining the association between delay discounting,delay aversion and physical activity in Chinese adults with type-2 diabetes mellitus

BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity recommended by the World Health Organization.Therefore,it is imperative to identify the factors that contributing to lack of physical activity must be identified.AIM To investigate the relationship among delay discounting,delay aversion,glycated hemoglobin(HbA1c),and various levels of physical activity in Chinese adults diagnosed with type 2 diabetes mellitus(T2DM).METHODS In 2023,400 adults with T2DM were recruited from the People's Hospital of Linxia Hui Autonomous Prefecture of Gansu Province.A face-to-face questionnaire was used to gather demographic data and details on physical activity,delay discounting,and delay aversion.In addition,HbA1c levels were measured in all 400 participants.The primary independent variables considered were delay discounting and delay aversion.The outcome variables included HbA1c levels and different intensity levels of physical activity,including walking,moderate physical activity,and vigorous physical activity.Multiple linear regression models were utilized to assess the relationship between delay discounting,delay aversion,and HbA1c levels,along with the intensity of different physical activity measured in met-hours per week.RESULTS After controlling for the sample characteristics,delay discounting was negatively associated with moderate physical activity(β=-2.386,95%CI:-4.370 to-0.401).Meanwhile,delay aversion was negatively associated with the level of moderate physical activity(β=-3.527,95%CI:-5.578 to-1.476)in the multiple linear regression model,with statistically significant differences.CONCLUSION Elevated delay discounting and increased delay aversion correlated with reduced levels of moderate physical activity.Result suggests that delay discounting and aversion may influence engagement in moderate physical activity.This study recommends that health administration and government consider delay discounting and delay aversion when formulating behavioral intervention strategies and treatment guidelines involving physical activity for patients with T2DM,which may increase participation in physical activity.This study contributes a novel perspective to the research on physical activity in adults with T2DM by examining the significance of future health considerations and the role of emotional responses to delays.

代际合作的决策机制与助推策略:时间折扣和社会折扣整合的理论视角

代际合作指个体选择为后代牺牲自己的当下利益,以谋求未来福祉。此决策涉及当前自我利益与未来后代利益之间的权衡,是推动可持续发展的关键心理过程。本研究分析了跨期决策、社会决策和代际合作决策在选项属性和选择过程两方面的差异,/进而揭示了代际合作不仅在时间维度和社会维度的价值评估阶段,更在价值选择阶段表现出决策独特性。基于此,从时间折扣和社会折扣整合的理论视角,尝试建构“折扣−动力−助推”模型:分别提出传承动机和未来取向、代际认同和责任感知的动力机制,以及“代际心理账户”和“想象未来后代”的代际合作助推策略。未来还需探究代际合作的多种测量范式,并引入生命全程的研究视角,以推动代际合作与可持续发展的研究。

Real option pricing method for R&D investment under changing risk-free rate and discount rate

The polynomial spline model, which belongs to the static term structure model of interest rates, is studied. Every cash flow of the project is discounted relatively accurately by obtaining the discount rate from the static term structure model of interest rates. A simple basic model, which belongs to the dynamic term structure model, is studied, and the option pricing formula under changing risk-free rates is obtained by bringing it into the option pricing formula. Both dynamic and static term structure models are estimated by the use of the data of buy-back rates and the Shanghai Stock Exchange, and an example is given to compare the differences between the traditional method and the method under the changes in the interest rates and the discount rates.

基于有限元方法的双强度折减技术在边坡稳定性评估中的应用研究

评估边坡稳定性,以尽量减少失稳引起的地质风险,对减少人员伤亡和财产损失具有重要意义。本文提出了非均质边坡稳定性评价的强度折减法,并构建了相应数值方法。最后,结合传统方法验证了本方法的可行性,并结合实例对该方法进行了应用。

Privacy preserving supply chain quantity discount contract design

The development and deployment of privary preserving supply chain quantity discount contract design can allow supply chain collaborations to take place without revealing any participant＇s data to others, reaping the benefits of collaborations wbile avoiding the drawbacks of privacy information disclosure. First, secure multi-party computation protocols are applied in the joint-ordering policy between a single supplier and a single retailer, the joint-ordering policy can be conducted without disclosing private cost information of any of the other supply chain partners. Secondly, secure multi-party computation protocols are applied in the privacy preserving supply chain quantity discount contract design between a single supplier and a single retailer. The information disclosure analyses of the algorithm show that： the optimal quantity discount of the jointordering policy can be conducted without disclosing private cost information of any of the other supply chain partners; the above protocol can be implemented without mediators; the privacy preserving quantity discount algorithm can be mutually verifiable and has solved the problem of asymmetric information.

社会折现率及相关指标的实证研究

社会折现率(SDR)是投资评价和方案比较的关键指标。通过求解随机微分方程,提出用股票投资等价收益率和长期平均利率测算验证社会折现率的参考公式。基于西方主要经济体的数据,检验一些国家设定的社会折现率是否与计算结果相匹配,证明这种测算方法的可行性。在实证分析的过程中发现,利率与通货膨胀率之间存在二次非线性的回归关系,对传统的线性利率规则提出了质疑。

Optimal EOQ Model for Deteriorating Items Considering the Incremental Quantity Discounts and Shortages

In this present paper, a deterministic lot size model is developed for deteriorating items with incremental quantity discounts. It is assumed that shortages are permitted to occur and fully backlogged. A simple solution procedure is shown for determining the optimal order lot size and the optimal order cycle. A numerical example is used to illustrate how the solution procedure works.

The <i>q</i>-Exponential Probability Discounting of Gain and Loss

Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been proposed in econophysics (Takahashi, 2007, Physica A). We examined (a) fitness of the models to behavioral data of probability discounting of both gain and loss;and (b) relationships between parameters in the q-exponential probability discounting model across gain and loss. Our results demonstrated that, for both gain and loss, the q-exponential model better fits the behavioral data than exponential and hyperbolic functions, and there is the sign effect in q-exponential probability discounting. Relationships between Kahneman-Tversky’s prospect theory in behavioral economics and the q-exponential probability discounting are high-lightened.