In this paper, we conduct research on the game theory and the logic optimization and the applications on construction of China’s new energy subsidy system. The management of energy and the general optimization of ene...In this paper, we conduct research on the game theory and the logic optimization and the applications on construction of China’s new energy subsidy system. The management of energy and the general optimization of energy structure play an important role in the development of the national economy and the upgrading of industrial structure. Therefore, it is the inevitable choice to build a well-off society in an all-round way. The energy projects management in tradition adopts way from bottom to top, namely from the floor of project management starts to collect the data, progressive upward transmission to the high-level, after analysis carries on the management and control to the project, this method had guaranteed the project pays according to progress, quality, cost and other requests, in view of the management of single project. This paper integrates the game theory and the logic optimization to construct the revised system that will be meaningful.展开更多
This study builds a simulation of Chinese carbon sequestration market(CSM) based on the Swarm platform and complex adaptive system(CAS) theory.The simulation results represent that the total assets and profits of the ...This study builds a simulation of Chinese carbon sequestration market(CSM) based on the Swarm platform and complex adaptive system(CAS) theory.The simulation results represent that the total assets and profits of the carbon sequestration project(CSP) buyer and seller are steadily on the increase in the carbon trading maxket.The market regulatory efficiency is determined by the market investment and the improvement of regulation policy.Furthermore,the real sample simulation of Sichuan Daduhe Forest CSP demonstrates that the profit of CSP traded in the CSM is higher than the profit from the transactions of outside exchange.It implies that establishing CSM is an effective way to improve the CSP business for investors and a positive action to response to global warming as well.Finally,this study applies an Analytic Hierarchy Process-Fuzzy Comprehensive Evaluation(AHPFCE) approach to evaluate the reliability of CSM simulation.It concludes that the CSM simulation is "more creditable",which indicates that the CSM simulation results can be used as a proxy to observe the market uncertainties.展开更多
This paper uses minute by minute data series from Chinese commodity futures markets to study patterns of intraday effect and discovers the L pattern of absolute return and volume.It is different from stock market,whic...This paper uses minute by minute data series from Chinese commodity futures markets to study patterns of intraday effect and discovers the L pattern of absolute return and volume.It is different from stock market,which has a distinctive pattern of U-shaped.The financial market microstructure theory,traders' psychology and trading mechanism are applied to explain it.Then this paper studies the factors that influence volatility of return and the lagged orders.The results show that there is a bilateral Granger causality among any two of the absolute return,volume and open interest,and it is different from the empirical results of the stock market,in the sense that there is only a unilateral Granger causal relationship from volume to absolute return.The authors also analyze the dynamic relationship among these three factors.The empirical results tell that the influence of open interest on volatility of absolute return and volume is weak,and there is a strong correlation between absolute return and volume.Some investment suggestions are offered from the analysis mentioned above.展开更多
文摘In this paper, we conduct research on the game theory and the logic optimization and the applications on construction of China’s new energy subsidy system. The management of energy and the general optimization of energy structure play an important role in the development of the national economy and the upgrading of industrial structure. Therefore, it is the inevitable choice to build a well-off society in an all-round way. The energy projects management in tradition adopts way from bottom to top, namely from the floor of project management starts to collect the data, progressive upward transmission to the high-level, after analysis carries on the management and control to the project, this method had guaranteed the project pays according to progress, quality, cost and other requests, in view of the management of single project. This paper integrates the game theory and the logic optimization to construct the revised system that will be meaningful.
基金supported by the National Natural Science Foundation of China under Grant No.71173175
文摘This study builds a simulation of Chinese carbon sequestration market(CSM) based on the Swarm platform and complex adaptive system(CAS) theory.The simulation results represent that the total assets and profits of the carbon sequestration project(CSP) buyer and seller are steadily on the increase in the carbon trading maxket.The market regulatory efficiency is determined by the market investment and the improvement of regulation policy.Furthermore,the real sample simulation of Sichuan Daduhe Forest CSP demonstrates that the profit of CSP traded in the CSM is higher than the profit from the transactions of outside exchange.It implies that establishing CSM is an effective way to improve the CSP business for investors and a positive action to response to global warming as well.Finally,this study applies an Analytic Hierarchy Process-Fuzzy Comprehensive Evaluation(AHPFCE) approach to evaluate the reliability of CSM simulation.It concludes that the CSM simulation is "more creditable",which indicates that the CSM simulation results can be used as a proxy to observe the market uncertainties.
基金supported by the National Science Fund of China under Grant Nos.71471182 and 71071170Program for New Century Excellent Talents in University under Grant No.NCET-11-0750Program for Innovation Research in Central University of Finance and Economics
文摘This paper uses minute by minute data series from Chinese commodity futures markets to study patterns of intraday effect and discovers the L pattern of absolute return and volume.It is different from stock market,which has a distinctive pattern of U-shaped.The financial market microstructure theory,traders' psychology and trading mechanism are applied to explain it.Then this paper studies the factors that influence volatility of return and the lagged orders.The results show that there is a bilateral Granger causality among any two of the absolute return,volume and open interest,and it is different from the empirical results of the stock market,in the sense that there is only a unilateral Granger causal relationship from volume to absolute return.The authors also analyze the dynamic relationship among these three factors.The empirical results tell that the influence of open interest on volatility of absolute return and volume is weak,and there is a strong correlation between absolute return and volume.Some investment suggestions are offered from the analysis mentioned above.
