In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online alg...In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online algorithm based on cost function.The competitive ratio of the online algorithm is given for each variant,which is a performance measure of an online algorithm.More importantly,we show that the online algorithm is optimal.展开更多
The UK government implements carbon price floor to provide long-term incentive to invest in low-carbon technology, thus, fossil-fuel power plants have to face increasing carbon price. This report addresses the effect ...The UK government implements carbon price floor to provide long-term incentive to invest in low-carbon technology, thus, fossil-fuel power plants have to face increasing carbon price. This report addresses the effect of carbon price floor on levelised cost of gas-fired generation technology through the levelised cost of electricity (LCOE) ap-proach with the estimation of carbon price floor. Finally, the comparison of levelised cost of electricity for all generation technology in the UK will be shown and discussed.展开更多
对国外复杂系统费用估算软件PRICE(parametric review of information for costing and evaluation)的建模思路和方法进行了深入剖析。分析了其费用估算分解结构的建立依据,对输入参数进行了梳理,总结了费用估算的核心关系式形式以...对国外复杂系统费用估算软件PRICE(parametric review of information for costing and evaluation)的建模思路和方法进行了深入剖析。分析了其费用估算分解结构的建立依据,对输入参数进行了梳理,总结了费用估算的核心关系式形式以及核心参数——先进性综合参数的构建、确定与校准等关键问题,探讨了该软件的建模思路和方法对我国复杂装备费用估算建模的启示。展开更多
By developing a GDMOD model to estimate the environmental externalities associated with electricity generation, this project provides a detailed analysis of the damages and costs caused by different pollutants at vary...By developing a GDMOD model to estimate the environmental externalities associated with electricity generation, this project provides a detailed analysis of the damages and costs caused by different pollutants at varying distances from the Mawan Electricity Plant in Shenzhen, China. The major findings of this study can be summarized that (1) environmental damages caused by electricity production are large and are mainly imposed on regions far away from the electricity plant; (2) air pollution is the most significant contributor to the total damages, and SO_2, NOx, and particulate matter are the three major pollutants with highest damages; (3) the damages caused per unit of particulate, NOx, and SO_2 emissions are much higher than pollution treatment and prevention costs. The research results of this project showed that China needs to have a more effective levy system on SO_2, and a more manageable electricity tariff mechanism to internalize the environmental externalities. The results have also implications for pollution control strategies, compensation schemes as well as emission trading arrangements.展开更多
Power industry as an important means of primary energy consumption, occupies an important position in coal consumption and pollutant emissions, and causes a great impact on the environment. It is particularly importan...Power industry as an important means of primary energy consumption, occupies an important position in coal consumption and pollutant emissions, and causes a great impact on the environment. It is particularly important to define environmental costs while Environmental costs account for a heavy weight in the total cost of generating after the introduction of the Clean Development Mechanism (CDM) This paper analyzes the composition of environmental cost and its calculation methods, three cost equivalent pricing methods and its scope in environmental costs were proposed, there are Government pricing, market pricing and cost accounting, then analyses the cost of equivalent effect on electricity trade.展开更多
This paper studies how the price movements of pork,chicken and egg respond to those of related cost factors in short terms in Chinese market.We employ a linear quantile approach not only to explore potential data hete...This paper studies how the price movements of pork,chicken and egg respond to those of related cost factors in short terms in Chinese market.We employ a linear quantile approach not only to explore potential data heteroscedasticity but also to generate confidence bands for the purpose of price stability study.We then evaluate our models by comparing the prediction intervals generated from the quantile regression models with in-sample and out-of-sample forecasts.Using monthly data from January 2000 to October 2010,we observed these findings:(i) the price changes of cost factors asymmetrically and unequally influence those of the livestock across different quantiles;(ii) the performance of our models is robust and consistent for both in-sample and out-of-sample forecasts;(iii) the confidence intervals generated from 0.05th and 0.95th quantile regression models are good methods to forecast livestock price fluctuation.展开更多
The purpose of this study is to estimate the monetary value of the main environmental and external costs of Yali Hydropower Plant (YHPP) and to incorporate them into the financial viability indices of the plant, namel...The purpose of this study is to estimate the monetary value of the main environmental and external costs of Yali Hydropower Plant (YHPP) and to incorporate them into the financial viability indices of the plant, namely its net present value and electricity price. The results were found that if the electricity price is kept at its original level of 5.2 US cents/kWh to cover direct costs only, the net present value of the plant would be reduced to about 27% by incorporating environmental and external costs. Alternatively, the electricity price would have to be increased to 5.68 US cents/kWh in order to cover the full costs of YHPP and to maintain the original net present value. The main policy recommendations are: Government regulations should require that the financial analysis and appraisal of all future electricity sources include the full cost of these schemes, including not only direct costs but also environmental and external costs related to preventing or mitigating the environmental impact caused by them. An appropriate financial mechanism should be established to allocate the revenue from full cost electricity pricing to a fund to cover the environmental protection and compensation costs.展开更多
The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessari...The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessarily aggravate agency costs in levered firms. The corporate governance affects agency costs greatly. If debt-holders were entitled to design executive stock options together with stockholders, by allocating power properly between stockholders and debt-holders, firm value could be enhanced greatly. The following way of allocating power between the two parties is proposed: the exercise price should be the weighted average of the stockholders' and debt-holders' suggested exercise prices. The weight allocated to debt-holders is positively related to the amount of debts that debt-holders lend to stockholders.展开更多
By using the analysis method of game theory,this paper analyzes the phenomenon of price paradox of "vegetable basket" in China and its reason as follows:the price paradox of "vegetable basket" in C...By using the analysis method of game theory,this paper analyzes the phenomenon of price paradox of "vegetable basket" in China and its reason as follows:the price paradox of "vegetable basket" in China is that if the vegetable is cheap,it will harm farmers,and if the vegetable is expensive,it will harm people;high-cost logistics,low negotiation status of vegetable growers and cooperation predicament are responsible for price paradox.Based on the theoretical basis of strategic choice-theory of intermediaries,it indicates that the intermediaries can realize effective transaction and save transaction cost.The strategic choice of solving price paradox of "vegetable basket" is put forward as follows:support vegetable growers' cooperatives,reduce transaction cost and raise the negotiation status of vegetable growers;develop the model of connection of agricultural products and supermarkets,and reduce the cost of transport and distribution;innovate upon intermediaries and develop the third-party logistics.展开更多
Prices increase of building materials is a common trend in both developed and developing countries. The prices increase of building materials results in high cost of housing.The aim of this study is to identify the ma...Prices increase of building materials is a common trend in both developed and developing countries. The prices increase of building materials results in high cost of housing.The aim of this study is to identify the major determinants of prices increase of building materials on Ghanaian construction market, and also to assess the relationship between the independent variables of the prices increase. A five-point Likert scale was used for the study;from strongly disagree (1) to strongly agree (5). The variables in the questionnaire were ranked based on the response of the participants of the study using Mean Response Analysis (MRA) statistics. Spearman correlation matrix was used to determine the relationship between the variables of prices increase of building materials. Crude oil prices, energy cost, local taxes and charges, cost of fuel and power supply, high running cost, high prices of raw materials, cost of transportation and the high cost of labour were found to be the major determinants of prices increase of building materials on Ghanaian construction market. The study further found multicollinearity relationship among variables of prices increase of building materials, of which the highest correlation coefficient was found between fast-growing demand due to high global economic growth and over-dependence on imported building materials. The study recommends that further research should be carried out to determine the control measures of increase prices of building materials in Ghana.展开更多
For the purpose of improvement of the sales, confirming the influence of price to the sales and customer satisfaction of the product is important. The most suitable price should be determined from the view point of cu...For the purpose of improvement of the sales, confirming the influence of price to the sales and customer satisfaction of the product is important. The most suitable price should be determined from the view point of customers, and it is extremely important to implement a high quality product corresponding to the real need of customers. It may have close relationship between cost and an expense to implement the individual inherent attribute of system product. Also, it may have close relationship between production cost and price of product. For the purpose of improvement of the customer satisfaction for quality of system product, the method of quantitative quality requirement and evaluation based on the ISO/IEC9126 quality model that includes six quality characteristics is widely recognized. In the precedent study, I have introduced the requirements definition method for the quality of system product based on the system quality model defined in ISO/IEC9126 and proposed the effectiveness of it statistically. In the previous study, I have also confirmed the relationship between inherent attributes of the product and quantitative result of the measured value of total customer satisfaction from the view point of six quality characteristics statistically. I performed the development of the prediction model to estimate the total customer satisfaction for the system product from the view point of inherent attribute of the product. And, I have proposed the effectiveness of application of the estimated prediction model and possibility of improvement of the total customer satisfaction of a system product. Based on the result of previous study, in this paper, I propose the result of investigation of influence of price to customer satisfaction, and the possibility of application of estimated prediction model for improvement of the total customer satisfaction of system product based on the price of product. Also, based on the result of investigation of relationship among price and inherent attributes of product, I propose the possibility of application of estimated prediction model and improvement of the price of system product from the view point of inherent attributes of product.展开更多
基金Supported by the Natural Science Foundation of China(11201428,11471286,11701518)the Natural Science Foundation of Zhejiang Province(Y6110091)the Graduate Innovation Project of Zhejiang Sci-Tech University(YCX12001,YCX13005)
文摘In this paper,a new price is given to the online decision maker at the beginning of each day.The trader must decide how many items to purchase according to the current price.We present three variants and an online algorithm based on cost function.The competitive ratio of the online algorithm is given for each variant,which is a performance measure of an online algorithm.More importantly,we show that the online algorithm is optimal.
文摘The UK government implements carbon price floor to provide long-term incentive to invest in low-carbon technology, thus, fossil-fuel power plants have to face increasing carbon price. This report addresses the effect of carbon price floor on levelised cost of gas-fired generation technology through the levelised cost of electricity (LCOE) ap-proach with the estimation of carbon price floor. Finally, the comparison of levelised cost of electricity for all generation technology in the UK will be shown and discussed.
文摘对国外复杂系统费用估算软件PRICE(parametric review of information for costing and evaluation)的建模思路和方法进行了深入剖析。分析了其费用估算分解结构的建立依据,对输入参数进行了梳理,总结了费用估算的核心关系式形式以及核心参数——先进性综合参数的构建、确定与校准等关键问题,探讨了该软件的建模思路和方法对我国复杂装备费用估算建模的启示。
文摘By developing a GDMOD model to estimate the environmental externalities associated with electricity generation, this project provides a detailed analysis of the damages and costs caused by different pollutants at varying distances from the Mawan Electricity Plant in Shenzhen, China. The major findings of this study can be summarized that (1) environmental damages caused by electricity production are large and are mainly imposed on regions far away from the electricity plant; (2) air pollution is the most significant contributor to the total damages, and SO_2, NOx, and particulate matter are the three major pollutants with highest damages; (3) the damages caused per unit of particulate, NOx, and SO_2 emissions are much higher than pollution treatment and prevention costs. The research results of this project showed that China needs to have a more effective levy system on SO_2, and a more manageable electricity tariff mechanism to internalize the environmental externalities. The results have also implications for pollution control strategies, compensation schemes as well as emission trading arrangements.
文摘Power industry as an important means of primary energy consumption, occupies an important position in coal consumption and pollutant emissions, and causes a great impact on the environment. It is particularly important to define environmental costs while Environmental costs account for a heavy weight in the total cost of generating after the introduction of the Clean Development Mechanism (CDM) This paper analyzes the composition of environmental cost and its calculation methods, three cost equivalent pricing methods and its scope in environmental costs were proposed, there are Government pricing, market pricing and cost accounting, then analyses the cost of equivalent effect on electricity trade.
基金supported by the Key Project of National Key Technology R&D Program of China(2009BADA9B01)
文摘This paper studies how the price movements of pork,chicken and egg respond to those of related cost factors in short terms in Chinese market.We employ a linear quantile approach not only to explore potential data heteroscedasticity but also to generate confidence bands for the purpose of price stability study.We then evaluate our models by comparing the prediction intervals generated from the quantile regression models with in-sample and out-of-sample forecasts.Using monthly data from January 2000 to October 2010,we observed these findings:(i) the price changes of cost factors asymmetrically and unequally influence those of the livestock across different quantiles;(ii) the performance of our models is robust and consistent for both in-sample and out-of-sample forecasts;(iii) the confidence intervals generated from 0.05th and 0.95th quantile regression models are good methods to forecast livestock price fluctuation.
文摘The purpose of this study is to estimate the monetary value of the main environmental and external costs of Yali Hydropower Plant (YHPP) and to incorporate them into the financial viability indices of the plant, namely its net present value and electricity price. The results were found that if the electricity price is kept at its original level of 5.2 US cents/kWh to cover direct costs only, the net present value of the plant would be reduced to about 27% by incorporating environmental and external costs. Alternatively, the electricity price would have to be increased to 5.68 US cents/kWh in order to cover the full costs of YHPP and to maintain the original net present value. The main policy recommendations are: Government regulations should require that the financial analysis and appraisal of all future electricity sources include the full cost of these schemes, including not only direct costs but also environmental and external costs related to preventing or mitigating the environmental impact caused by them. An appropriate financial mechanism should be established to allocate the revenue from full cost electricity pricing to a fund to cover the environmental protection and compensation costs.
文摘The relationship between options and agency costs in levered firms is studied by modeling the effect of executive stock options on the manager's investment strategy in levered firms. Stock options do not necessarily aggravate agency costs in levered firms. The corporate governance affects agency costs greatly. If debt-holders were entitled to design executive stock options together with stockholders, by allocating power properly between stockholders and debt-holders, firm value could be enhanced greatly. The following way of allocating power between the two parties is proposed: the exercise price should be the weighted average of the stockholders' and debt-holders' suggested exercise prices. The weight allocated to debt-holders is positively related to the amount of debts that debt-holders lend to stockholders.
文摘By using the analysis method of game theory,this paper analyzes the phenomenon of price paradox of "vegetable basket" in China and its reason as follows:the price paradox of "vegetable basket" in China is that if the vegetable is cheap,it will harm farmers,and if the vegetable is expensive,it will harm people;high-cost logistics,low negotiation status of vegetable growers and cooperation predicament are responsible for price paradox.Based on the theoretical basis of strategic choice-theory of intermediaries,it indicates that the intermediaries can realize effective transaction and save transaction cost.The strategic choice of solving price paradox of "vegetable basket" is put forward as follows:support vegetable growers' cooperatives,reduce transaction cost and raise the negotiation status of vegetable growers;develop the model of connection of agricultural products and supermarkets,and reduce the cost of transport and distribution;innovate upon intermediaries and develop the third-party logistics.
文摘Prices increase of building materials is a common trend in both developed and developing countries. The prices increase of building materials results in high cost of housing.The aim of this study is to identify the major determinants of prices increase of building materials on Ghanaian construction market, and also to assess the relationship between the independent variables of the prices increase. A five-point Likert scale was used for the study;from strongly disagree (1) to strongly agree (5). The variables in the questionnaire were ranked based on the response of the participants of the study using Mean Response Analysis (MRA) statistics. Spearman correlation matrix was used to determine the relationship between the variables of prices increase of building materials. Crude oil prices, energy cost, local taxes and charges, cost of fuel and power supply, high running cost, high prices of raw materials, cost of transportation and the high cost of labour were found to be the major determinants of prices increase of building materials on Ghanaian construction market. The study further found multicollinearity relationship among variables of prices increase of building materials, of which the highest correlation coefficient was found between fast-growing demand due to high global economic growth and over-dependence on imported building materials. The study recommends that further research should be carried out to determine the control measures of increase prices of building materials in Ghana.
文摘For the purpose of improvement of the sales, confirming the influence of price to the sales and customer satisfaction of the product is important. The most suitable price should be determined from the view point of customers, and it is extremely important to implement a high quality product corresponding to the real need of customers. It may have close relationship between cost and an expense to implement the individual inherent attribute of system product. Also, it may have close relationship between production cost and price of product. For the purpose of improvement of the customer satisfaction for quality of system product, the method of quantitative quality requirement and evaluation based on the ISO/IEC9126 quality model that includes six quality characteristics is widely recognized. In the precedent study, I have introduced the requirements definition method for the quality of system product based on the system quality model defined in ISO/IEC9126 and proposed the effectiveness of it statistically. In the previous study, I have also confirmed the relationship between inherent attributes of the product and quantitative result of the measured value of total customer satisfaction from the view point of six quality characteristics statistically. I performed the development of the prediction model to estimate the total customer satisfaction for the system product from the view point of inherent attribute of the product. And, I have proposed the effectiveness of application of the estimated prediction model and possibility of improvement of the total customer satisfaction of a system product. Based on the result of previous study, in this paper, I propose the result of investigation of influence of price to customer satisfaction, and the possibility of application of estimated prediction model for improvement of the total customer satisfaction of system product based on the price of product. Also, based on the result of investigation of relationship among price and inherent attributes of product, I propose the possibility of application of estimated prediction model and improvement of the price of system product from the view point of inherent attributes of product.