By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process,the model of dynamic portfolio choice was built,which maximized the expected utility...By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process,the model of dynamic portfolio choice was built,which maximized the expected utility of terminal portfolio wealth.Through specifying the state function of uncertainty-aversion,it utilized the max-min method to derive the analytical solution of the model to study the effect of time-varying,jumps,and Knight uncertainty of asset return process on dynamic portfolio choice and their interactions.Results of comparative analysis show:the time-varying results in positive or negative intertemporal hedging demand of portfolio,which depends on the coefficient of investor's risk aversion and the correlation coefficient between return shift and volatility shift;the jumps in asset return overall reduce investor's demand for the risky asset,which can be enhanced or weakened by the jumps in volatility;due to the existing of Knight uncertainty,the investor avoids taking large position on risky asset,and improves portfolio's steady and immunity;the effects of the time-varying,jumps,and Knight uncertainty are interactive.展开更多
In quantum calculations a transformed Hamiltonian is often used to avoid singularities in a certain basis set or to reduce computation time. We demonstrate for the Fourier basis set that the Hamiltonian can not be arb...In quantum calculations a transformed Hamiltonian is often used to avoid singularities in a certain basis set or to reduce computation time. We demonstrate for the Fourier basis set that the Hamiltonian can not be arbitrarily transformed. Otherwise, the Hamiltonian matrix becomes non-hermitian, which may lead to numerical problems. Methods for cor- rectly constructing the Hamiltonian operators are discussed. Specific examples involving the Fourier basis functions for a triatomic molecular Hamiltonian (J=0) in bond-bond angle and Radau coordinates are presented. For illustration, absorption spectra are calculated for the OC10 molecule using the time-dependent wavepacket method. Numerical results indicate that the non-hermiticity of the Hamiltonian matrix may also result from integration errors. The conclusion drawn here is generally useful for quantum calculation using basis expansion method using quadrature scheme.展开更多
The volume of highway traffic in the United States continues to increase. In the face of this there is a concomitant need to improve and repair transportation infrastructure. Construction frequently requires a reducti...The volume of highway traffic in the United States continues to increase. In the face of this there is a concomitant need to improve and repair transportation infrastructure. Construction frequently requires a reduction in capacity during construction activity; consequently road users as well as adjacent businesses must endure the delays and inconveniences associated with transportation construction. Recognizing the problems that construction can produce, state highway agencies (SHAs) have continually sought ways to minimize the negative impact from their construction operations. Incentive contracting has played an important role in this effort to improve project performance. The Florida Department of Transportation (FDOT) is one of the leading SHAs using such innovative contracting methods as Incentive/Disincentive (I/D), A+B (cost plus time bidding) combined with I/D, No Excuse Bonus, and Liquidated Savings. This paper analyzes the traffic impact on incentive project time performance using highway construction projects recently completed in Florida. Project data obtained from FDOT were evaluated using time performance indices. A survey of traffic impact on project work types was performed in Florida in order to evaluate the relationship between construction project types and road traffic influence during construction. Based on the survey results, the 38 most frequently used work types in Florida during the study period were categorized into three traffic impact levels: (1) high traffic impact, (2) medium traffic impact, and (3) low traffic impact. Statistical analysis was performed. The results show that there are significant differences on project time performance between low and high impact levels as well as low and medium impact levels.展开更多
Alternative contracting techniques have been frequently used in highway construction in the United State and have played an important role in the effort to improve construction project performance. However, it is stil...Alternative contracting techniques have been frequently used in highway construction in the United State and have played an important role in the effort to improve construction project performance. However, it is still unknown whether which project factors have significant influence on project performance. It is essential to learn from the experiences and opinions of construction project managers who had executed innovative or alternative contracts in order to improve and refine the usage of alternative contracting methods. Innovative contracting methods have been used by state Departments of Transportation for many years, so there is now sufficient data to measure the effectiveness of these innovations. Working under a grant from the Florida Department of Transportation (FDOT), the research team used the experiences and opinions of construction field engineers who had executed innovative contracts on FDOT projects to measure the effectiveness of these systems. To that end, interviews were conducted with FDOT and consultant personnel from across Florida. All interviewed were project managers who had overseen at least one project using an innovative contracting method. Discussions brought enthusiastic responses from those interviewed, both for and against certain innovations. This paper will focus on the experiences and opinions of those experienced construction field engineers dealing with well-known innovations, as well as newer innovations such as "Detour Rental" and "Damage Recovery".展开更多
Herein a novel aminopropyl-containing ionic liquid based organosilica(ILOS-NH_2) is prepared, characterized and applied as effective adsorbent for removal of crystal violet(CV) dye from wastewater. The ILOS-NH2 materi...Herein a novel aminopropyl-containing ionic liquid based organosilica(ILOS-NH_2) is prepared, characterized and applied as effective adsorbent for removal of crystal violet(CV) dye from wastewater. The ILOS-NH2 material was synthesized by hydrolysis and co-condensation of 1,3-bis-(3-trimethoxysilylpropyl)-imidazolium chloride(BTMSPIC) under acidic conditions followed by treatment with 3-aminopropyl-trimethoxysilane in toluene under reflux conditions. This material was characterized using scanning electron microscopy(SEM), diffuse reflectance infrared Fourier transform spectroscopy(DRIFTS), thermal gravimetric analysis(TGA) and energy dispersive X-ray analysis(EDAX). The material was effectively used in the removal of crystal violet at ambient temperature and showed high capacity and stability under applied conditions. The efficacy of p H, contact time, adsorbent dose, initial dye concentration, temperature, and isotherm studies and the applicability of pseudo-first, second order and Elovich kinetic models have also been investigated.展开更多
基金Key Program of Natural Science Research of High Education,Anhui Province of China(No.KJ2010A154)
文摘By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process,the model of dynamic portfolio choice was built,which maximized the expected utility of terminal portfolio wealth.Through specifying the state function of uncertainty-aversion,it utilized the max-min method to derive the analytical solution of the model to study the effect of time-varying,jumps,and Knight uncertainty of asset return process on dynamic portfolio choice and their interactions.Results of comparative analysis show:the time-varying results in positive or negative intertemporal hedging demand of portfolio,which depends on the coefficient of investor's risk aversion and the correlation coefficient between return shift and volatility shift;the jumps in asset return overall reduce investor's demand for the risky asset,which can be enhanced or weakened by the jumps in volatility;due to the existing of Knight uncertainty,the investor avoids taking large position on risky asset,and improves portfolio's steady and immunity;the effects of the time-varying,jumps,and Knight uncertainty are interactive.
基金This work was supported by the National Basic Research Program of China (No.2013CB922200), the National Natural Science Foundation of China (No.21222308, No.21103187, and No.21133006), the Chinese Academy of Sciences, and the Key Research Program of the Chinese Academy of Sciences.
文摘In quantum calculations a transformed Hamiltonian is often used to avoid singularities in a certain basis set or to reduce computation time. We demonstrate for the Fourier basis set that the Hamiltonian can not be arbitrarily transformed. Otherwise, the Hamiltonian matrix becomes non-hermitian, which may lead to numerical problems. Methods for cor- rectly constructing the Hamiltonian operators are discussed. Specific examples involving the Fourier basis functions for a triatomic molecular Hamiltonian (J=0) in bond-bond angle and Radau coordinates are presented. For illustration, absorption spectra are calculated for the OC10 molecule using the time-dependent wavepacket method. Numerical results indicate that the non-hermiticity of the Hamiltonian matrix may also result from integration errors. The conclusion drawn here is generally useful for quantum calculation using basis expansion method using quadrature scheme.
文摘The volume of highway traffic in the United States continues to increase. In the face of this there is a concomitant need to improve and repair transportation infrastructure. Construction frequently requires a reduction in capacity during construction activity; consequently road users as well as adjacent businesses must endure the delays and inconveniences associated with transportation construction. Recognizing the problems that construction can produce, state highway agencies (SHAs) have continually sought ways to minimize the negative impact from their construction operations. Incentive contracting has played an important role in this effort to improve project performance. The Florida Department of Transportation (FDOT) is one of the leading SHAs using such innovative contracting methods as Incentive/Disincentive (I/D), A+B (cost plus time bidding) combined with I/D, No Excuse Bonus, and Liquidated Savings. This paper analyzes the traffic impact on incentive project time performance using highway construction projects recently completed in Florida. Project data obtained from FDOT were evaluated using time performance indices. A survey of traffic impact on project work types was performed in Florida in order to evaluate the relationship between construction project types and road traffic influence during construction. Based on the survey results, the 38 most frequently used work types in Florida during the study period were categorized into three traffic impact levels: (1) high traffic impact, (2) medium traffic impact, and (3) low traffic impact. Statistical analysis was performed. The results show that there are significant differences on project time performance between low and high impact levels as well as low and medium impact levels.
文摘Alternative contracting techniques have been frequently used in highway construction in the United State and have played an important role in the effort to improve construction project performance. However, it is still unknown whether which project factors have significant influence on project performance. It is essential to learn from the experiences and opinions of construction project managers who had executed innovative or alternative contracts in order to improve and refine the usage of alternative contracting methods. Innovative contracting methods have been used by state Departments of Transportation for many years, so there is now sufficient data to measure the effectiveness of these innovations. Working under a grant from the Florida Department of Transportation (FDOT), the research team used the experiences and opinions of construction field engineers who had executed innovative contracts on FDOT projects to measure the effectiveness of these systems. To that end, interviews were conducted with FDOT and consultant personnel from across Florida. All interviewed were project managers who had overseen at least one project using an innovative contracting method. Discussions brought enthusiastic responses from those interviewed, both for and against certain innovations. This paper will focus on the experiences and opinions of those experienced construction field engineers dealing with well-known innovations, as well as newer innovations such as "Detour Rental" and "Damage Recovery".
基金Supported by the National Science Foundation of Iran
文摘Herein a novel aminopropyl-containing ionic liquid based organosilica(ILOS-NH_2) is prepared, characterized and applied as effective adsorbent for removal of crystal violet(CV) dye from wastewater. The ILOS-NH2 material was synthesized by hydrolysis and co-condensation of 1,3-bis-(3-trimethoxysilylpropyl)-imidazolium chloride(BTMSPIC) under acidic conditions followed by treatment with 3-aminopropyl-trimethoxysilane in toluene under reflux conditions. This material was characterized using scanning electron microscopy(SEM), diffuse reflectance infrared Fourier transform spectroscopy(DRIFTS), thermal gravimetric analysis(TGA) and energy dispersive X-ray analysis(EDAX). The material was effectively used in the removal of crystal violet at ambient temperature and showed high capacity and stability under applied conditions. The efficacy of p H, contact time, adsorbent dose, initial dye concentration, temperature, and isotherm studies and the applicability of pseudo-first, second order and Elovich kinetic models have also been investigated.