This paper deals with the security voting structure in an auction mechanism used to sell an item Of high-tech. The design of security voting structure allows the seller to choose between two objectives that are not mu...This paper deals with the security voting structure in an auction mechanism used to sell an item Of high-tech. The design of security voting structure allows the seller to choose between two objectives that are not mutually consistent. However, if the seller wants to maximize his revenue, he should retain some shares to benefit from the future dividends generated by the acquirer. In addition, if he wants to sell his high-tech to the most efficient candidate, he should sell all the shares.展开更多
After the end of the cold war, the Asia-Pacific security structure has experienced great changes, especially on the occasion of the current "power-sharing" and "power-shifting" between China and th...After the end of the cold war, the Asia-Pacific security structure has experienced great changes, especially on the occasion of the current "power-sharing" and "power-shifting" between China and the United States in the Asia-Pacific region, the Asia-Pacific security structure adjustment is especially significant. On the one hand, the Alliance structure with the United States as the pivot has experienced transformation from a hub-spokes system to a network, has formed the hierarchical layout of new alliance, quasi-alliance and potential alliance, On the other hand, emerging economies represented by China and Russia, while reinforcing the existing coordinate security framework, reshape the Asia-Pacific and even the whole Eurasia geopolitical posture through strategic initiatives such as the Belt and Road Initiative, the Eurasian Economic Union. As the third force in the Asia-Pacific security architecture, the Association of South-East Asian Nations(ASEAN) with the construction of a series of multilateral security mechanisms provides dialogue platform for the two security architectures led by major countries, and has also become one of the feasible paths to realize the future holistic security architecture in the Asia-Pacific region. Meanwhile, the major countries strategic competitions have intensified, which has gradually eroded the ASEAN ‘s cohesion, neutrality and even the central position in a holistic security architecture. The future's reconstruction of the Asia-Pacific security architecture needs to find new strategic consensus and reconfirm the ASEAN central position.展开更多
文摘This paper deals with the security voting structure in an auction mechanism used to sell an item Of high-tech. The design of security voting structure allows the seller to choose between two objectives that are not mutually consistent. However, if the seller wants to maximize his revenue, he should retain some shares to benefit from the future dividends generated by the acquirer. In addition, if he wants to sell his high-tech to the most efficient candidate, he should sell all the shares.
文摘After the end of the cold war, the Asia-Pacific security structure has experienced great changes, especially on the occasion of the current "power-sharing" and "power-shifting" between China and the United States in the Asia-Pacific region, the Asia-Pacific security structure adjustment is especially significant. On the one hand, the Alliance structure with the United States as the pivot has experienced transformation from a hub-spokes system to a network, has formed the hierarchical layout of new alliance, quasi-alliance and potential alliance, On the other hand, emerging economies represented by China and Russia, while reinforcing the existing coordinate security framework, reshape the Asia-Pacific and even the whole Eurasia geopolitical posture through strategic initiatives such as the Belt and Road Initiative, the Eurasian Economic Union. As the third force in the Asia-Pacific security architecture, the Association of South-East Asian Nations(ASEAN) with the construction of a series of multilateral security mechanisms provides dialogue platform for the two security architectures led by major countries, and has also become one of the feasible paths to realize the future holistic security architecture in the Asia-Pacific region. Meanwhile, the major countries strategic competitions have intensified, which has gradually eroded the ASEAN ‘s cohesion, neutrality and even the central position in a holistic security architecture. The future's reconstruction of the Asia-Pacific security architecture needs to find new strategic consensus and reconfirm the ASEAN central position.
