Leaving ditches between adjacent mining areas can effectively reduce re-stripping in the latter mining area and simultaneously lead to an increment in internal dumping costs in the former mining area. This paper estab...Leaving ditches between adjacent mining areas can effectively reduce re-stripping in the latter mining area and simultaneously lead to an increment in internal dumping costs in the former mining area. This paper establishes calculation models for these two marginal costs. The optimizing model for slope cover height can be determined by including marginal cost models in the objective function. The paper has two main contributions:(a) it fully considers redistribution of dumping space in the model;(b) it introduces price fluctuations and cash discounts in the model. We use the typical open-pit mine as an example to test and prove the model. We conclude that a completely covered slope is reasonable in Haerwusu open pit mine; in addition to an increasing price index, the slope cover height can be reduced; and that price changes are one of the most important influencing factors of slope cover height optimization in an open-pit mine.展开更多
In this paper, we compare the performance of the optimal attainable payoffs (of a general claim) derived by the variance-optimal approach and the indifference argument under the mean-variance preference in an incomple...In this paper, we compare the performance of the optimal attainable payoffs (of a general claim) derived by the variance-optimal approach and the indifference argument under the mean-variance preference in an incomplete market. Both payoffs are expressed by the signed variance-optimal martingale measure. Our results are applied to the claim hedging under partial information.展开更多
基金the key project of the National Natural Science Foundation of China (No. 51034005)the Research Fund for the Doctoral Program of Higher Education of China(No.20100095110019)+1 种基金the National‘‘Twelfth Five-Year’’Plan for Science and Technology Support of China(No.2014BAC14B00)the National High Technology Research and Development Program of China(No.2012AA062004)
文摘Leaving ditches between adjacent mining areas can effectively reduce re-stripping in the latter mining area and simultaneously lead to an increment in internal dumping costs in the former mining area. This paper establishes calculation models for these two marginal costs. The optimizing model for slope cover height can be determined by including marginal cost models in the objective function. The paper has two main contributions:(a) it fully considers redistribution of dumping space in the model;(b) it introduces price fluctuations and cash discounts in the model. We use the typical open-pit mine as an example to test and prove the model. We conclude that a completely covered slope is reasonable in Haerwusu open pit mine; in addition to an increasing price index, the slope cover height can be reduced; and that price changes are one of the most important influencing factors of slope cover height optimization in an open-pit mine.
基金This work is supported in part by National Science Fund for Distinguished Young Scholar No. 70225002.
文摘In this paper, we compare the performance of the optimal attainable payoffs (of a general claim) derived by the variance-optimal approach and the indifference argument under the mean-variance preference in an incomplete market. Both payoffs are expressed by the signed variance-optimal martingale measure. Our results are applied to the claim hedging under partial information.
