The Information Efficiency and Functionality Efficiency of Stock Markets

The efficiency of a stock market is principally measured by its information efficiency and functionality efficiency. Both metrics are closdy related to the information of stock markets. However, there is no uniform definition of information in the economy field since researchers may have various opinions on the information of stock markets. In this research, a comparatively strict definition of information in sense of economy is presented. Based on this definition, the optimal conditions to reach the maximum information efficiency and functionality efficiency of stock markets are derived. The conclusion is, only when the market＇s operation and information transmission mechanisms are fully effective, its information completeness degree is optimal, all investors take optimal equilibrium actions, and the information efficiency and functionality efficiency of stock markets will be optimal. Based on the conclusions, the information efficiency and functionality efficiency of reality stock markets in China are studied and the corresponding supervision countermeasures are suggested.

An Energy Efficiency Assessment Method for Distribution Network Containing DG

Energy efficiency assessment of distribution network containing distributed generation is one of the core contents of power grid construction. Aiming at the lack of a quantitative evaluation method for energy efficiency of distribution network containing distributed generation, a novel energy efficiency assessment method based on the super-efficiency model is proposed. Starting from the basic elements and operational requirements of the distribution network containing distributed generation, the energy efficiency assessment metric set is constructed. On this basis, the concept of generalized energy efficiency function is defined, and the super-efficiency model is used to assess the energy efficiency of the distribution network containing distributed generation. Finally, an example is given to evaluate and analyze energy efficiency. The results confirm the validity of the proposed method.

Technical efficiency and its determinants of the various cropping systems in the purple-soiled,hilly region of southwestern China

This study examines the technical efficiency(TE) differences among typical cropping systems of smallholder farmers in the purple-soiled hilly region of southwestern China.Household-,plot-,and crop-level data and community surveys were conducted to explore TE levels and determinants of typical cropping systems by using a translog stochastic frontier production function.Results indicate significant difference in TE and its determinants among cropping systems.The mean TEs of the rice cropping system(R),the rice-rape cropping system(RR),the rice-rape-potato cropping system(RRP),and the oil cropping system(O) are0.86,0.90,0.84,and 0.85,respectively,which are over 1.17 times higher than those of the maize-sweet potato-other crop cropping system(MSO) and the maize-sweet potato-wheat cropping system(MSW) at0.78 and 0.69,respectively.Moreover,Technical inefficiency(TIE) of different cropping systems is significantly affected by characteristics of the household as well as plot.However,the impact of land quality,mechanical cultivation conditions,crop structure,farming system,farm radius,household type,cultivated land area per capita,and annual household income per capitalon TIE vary by cropping system.Additionally,output elasticity of land,labor,and capital,as a group,is greater than the one of agricultural machinery and irrigation.Finally,when household-owned effective agricultural labor is at full farming capacity,optimal plot sizes for the R,RR,RRP,MSO,MSW,and 0 cropping systems are 1.12hm^2,0.35 hm^2,0.25 hm^2,2.82 hm^2,1.87 hm^2,and 1.17hm^2,respectively.

Thermodynamic performance of Dual-Miller cycle(DMC) with polytropic processes based on power output, thermal efficiency and ecological function

This study reports a new model of an air standard Dual-Miller cycle(DMC) with two polytropic processes and heat transfer loss.The two reversible adiabatic processes which could not be realized in practice are replaced with two polytropic processes in order to more accurately reflect the practical working performance. The heat transfer loss is taken into account. The expressions of power output, thermal efficiency, entropy generation rate(EGR) and ecological function are addressed using finite-time thermodynamic theory. Through numerical calculations, the influences of compression ratio, cut-off ratio and polytropic exponent on the performance are thermodynamically analyzed. The model can be simplified to other cycle models under specific conditions, which means the results have an certain universality and may be helpful in the design of practical heat engines. It is shown that the entropy generation minimization does not always lead to the best system performance.

Estimation method of glottal vocal efficiency based on conversion function of voice source

This investigation was designed to approach a novel estimation method of glottal vocal efficiency (GVE) based on conversion function of voice source. The conversion function of voice source was defined the ratio of supra-glottal acoustic voice source signal to the glottal air volume flow velocity waveform in frequency domain. A carefully designed in vivo canine larynx experiment and several human experiments including different vowels, pressed, falsetto, breath and typical laryngeal diseases were adopted to demonstrate this alternative GVE method. Compared with other vocal efficiency, it is shown that this method could eliminate the contribution from the super vocal tract transmission and resonance to GVE, and reflect the differences of phonation modes. The average magnitude of this conversion function in frequency domain represents GVE, and the variation of the magnitude in fundamental frequency is identical to AC/DC value.

Decision making framework for autonomous vehicles driving behavior in complex scenarios via hierarchical state machine

With the development of autonomous car,a vehicle is capable to sense its environment more precisely.That allows improved drving behavior decision strategy to be used for more safety and effectiveness in complex scenarios.In this paper,a decision making framework based on hierarchical state machine is proposed with a top-down structure of three-layer finite state machine decision system.The upper layer classifies the driving scenario based on relative position of the vehicle and its surrounding vehicles.The middle layer judges the optimal driving behavior according to the improved energy efficiency function targeted at multiple criteria including driving efficiency,safety and the grid-based lane vacancy rate.The lower layer constructs the state transition matrix combined with the calculation results of the previous layer to predict the optimal pass way in the region.The simulation results show that the proposed driving strategy can integrate multiple criteria to evaluate the energy efficiency value of vehicle behavior in real time,and realize the selection of optimal vehicle driving strategy.With popularity of automatic vehicles in future,the driving strategy can be used as a reference to provide assistance for human drive or even the real-time decision-making of autonomous driving.