Stochastic seismic inversion is the combination of geostatistics and seismic inversion technology which integrates information from seismic records, well logs, and geostatistics into a posterior probability density fu...Stochastic seismic inversion is the combination of geostatistics and seismic inversion technology which integrates information from seismic records, well logs, and geostatistics into a posterior probability density function （PDF） of subsurface models. The Markov chain Monte Carlo （MCMC） method is used to sample the posterior PDF and the subsurface model characteristics can be inferred by analyzing a set of the posterior PDF samples. In this paper, we first introduce the stochastic seismic inversion theory, discuss and analyze the four key parameters： seismic data signal-to-noise ratio （S/N）, variogram, the posterior PDF sample number, and well density, and propose the optimum selection of these parameters. The analysis results show that seismic data S/N adjusts the compromise between the influence of the seismic data and geostatistics on the inversion results, the variogram controls the smoothness of the inversion results, the posterior PDF sample number determines the reliability of the statistical characteristics derived from the samples, and well density influences the inversion uncertainty. Finally, the comparison between the stochastic seismic inversion and the deterministic model based seismic inversion indicates that the stochastic seismic inversion can provide more reliable information of the subsurface character.展开更多
The parameters of principal and directional extrema in a marine environment are important in marine engineering design, especially for appropriate construction of oceanic platforms and other structures. When designing...The parameters of principal and directional extrema in a marine environment are important in marine engineering design, especially for appropriate construction of oceanic platforms and other structures. When designing wave walls and break water structures, the orientation of the breakwater or seawall depends mainly on the direction of the strongest waves. However, the strength of the breakwater and the elevation of the seawall depend on the magnitude of the biggest wave height of the strongest waves. Thus, identification of directional extrema plays an important role in the design of wave factors. When calculating the directional extremum, different materials may require different specific computational methods, yet few theoretical studies have been conducted in this field of research. Based on multivariate extremnm statistical theory, this paper utilizes a discrete random variable to build a joint probability model compounded by a discrete random variable and a multivariate continuous random variable. Furthermore, this paper provides the first investigation on the theories and methodologies to deduce wave directional extrema. The results provide tools for both creating the calculation method of the directional extremum value and providing the rational directional extremum parameters for marine engineering design.展开更多
By using a well known result in combinatorics, named Konig Lemma, this paper generalized the method of constructing measure by repeated subdivision, which was a basic tool for fractal geometry. A more general method w...By using a well known result in combinatorics, named Konig Lemma, this paper generalized the method of constructing measure by repeated subdivision, which was a basic tool for fractal geometry. A more general method was presented to construct measure, which was an essential improvement to the existing result. The proof employed a skill similar to that for Konig Lemma, which helped to avoid using the compactness in Euclidean space. Two conditions of the existing method were found not necessary.展开更多
There is an extensive branch of literature that examines the success of Altman＇s Z-score in predicting bankruptcy or financial distress. The goal of this research paper is to investigate the stock price performance o...There is an extensive branch of literature that examines the success of Altman＇s Z-score in predicting bankruptcy or financial distress. The goal of this research paper is to investigate the stock price performance of firms that exhibit a large probability of bankruptcy according to the model of Airman. Regardless of the validity of Airman＇s Z-score, we utilize a new empirical design that relates stock price movements to Altman＇s Z-score. We focus and examine, through the methodology of panel data, whether stocks that have a high probability of bankruptcy underperform stocks with a low probability of bankruptcy or if there are differences in the way the markets react to the financial health of the sample firms.展开更多
A new mathematical expectation formula with some hypotheses, notions and propositions was given to get rid of the challenge of St. Petersburg paradox and Pascal's wager. Relevant results show that it is very effec...A new mathematical expectation formula with some hypotheses, notions and propositions was given to get rid of the challenge of St. Petersburg paradox and Pascal's wager. Relevant results show that it is very effective to apply the model to solve the expected revenue problems containing random events with low proba-bility but high revenue. This work also provides the probability theory with a more widely applied perspective in group decision-making.展开更多
Investors have traditionally been viewed as economically rational individuals who make decisions based on all available information. They have been assumed to use probability functions to arrive at the most optimal de...Investors have traditionally been viewed as economically rational individuals who make decisions based on all available information. They have been assumed to use probability functions to arrive at the most optimal decision. More recent studies propose that investors are irrational and systematically overreact to good and bad information events. The concept of the rational investor has been supported by among others Efficient Market Hypothesis and Modem Portfolio Theory. Other studies opposed to the notion of rational investors have identified psychological biases that influence decision making process of an investor, and leading them to make irrational decisions. Several anomalies have been identified that deviate from rational behavior. The objective of this paper was to test for investor rationality for companies listed at the Nairobi Stock Exchange. This paper tested overreaction by investors to news and performance of companies listed at the Nairobi Stock Market as an anomaly that has been proven in other markets. The test involved forming companies into two portfolios, one of extreme good performers and the other of extreme poor performers during the base year. Performance of these portfolios was analyzed for a nine year period from the year of portfolio formation. The results are consistent with the notion of overreaction, showing that investors overreact to both good and bad news. Over the study period the loser portfolio outperformed the winner portfolio by about 35.92%. This confrere that investors are irrational and make decisions based on some biases.展开更多
In goodness-of-fit tests, Pearson＇s chi-squared test is one of most widely used tools of formal statistical analysis. However, Pearson＇s chi-squared test depends on the partition of the sample space. Different const...In goodness-of-fit tests, Pearson＇s chi-squared test is one of most widely used tools of formal statistical analysis. However, Pearson＇s chi-squared test depends on the partition of the sample space. Different constructions of the partition of the sample space may lead to different conclusions. Based on an equiprobable partition of sample space, a modified chi^quared test is proposed. A method for constructing the modified chi-squared test is proposed. As an application, the proposed test is used to test whether vectorial data come from an uniformity distribution defined on the hypersphere. Some simulation studies show that the modified chisquared test against different alternative is robust.展开更多
The paper represents a rigorous treatment of the underlying quantum theory, not just in words but providing the underlying technical details, as to why matter occupies so large a volume and its intimate connection wit...The paper represents a rigorous treatment of the underlying quantum theory, not just in words but providing the underlying technical details, as to why matter occupies so large a volume and its intimate connection with the Pauli exclusion principle, as more and more matter is put together, as well as of the contraction or shrinkage of ＂bosonic matter＂, upon collapse, for which the Panli exclusion is abolished. From the derived explicit bounds of integrals of powers of the particle number densities, explicit bounds on probabilities of the occurrences of the events just described are extracted. These probabilities lead one to infer the change of the ＂size＂ or extension of such matter, upon expansion or contraction, respectively, as their content is increased.展开更多
A recently developed B-spline algorithm is extended and utilized to calculate excited states of He atoms in the presence of strong magnetic fields.Binding energies are presented for He in the five excited atomic state...A recently developed B-spline algorithm is extended and utilized to calculate excited states of He atoms in the presence of strong magnetic fields.Binding energies are presented for He in the five excited atomic states 210-+,110-,210-,11(-1)+,and 2 1(1) + with magnetic field strength ranging from 0.0001 to 10 a.u.The obtained energies are compared with available theoretical data,and found to be in good agreement.We investigate influence of magnetic fields on atomic structures of multielectron atoms,and illustrate that how electron probability density distributions change with increasing magnetic field strength.The current approach is directly applicable to simulations of discrete spectra for He atoms in the atmospheres of magnetized white dwarf stars.展开更多
基金supported by the National Major Science and Technology Project of China on Development of Big Oil-Gas Fields and Coalbed Methane (No. 2008ZX05010-002)
文摘Stochastic seismic inversion is the combination of geostatistics and seismic inversion technology which integrates information from seismic records, well logs, and geostatistics into a posterior probability density function （PDF） of subsurface models. The Markov chain Monte Carlo （MCMC） method is used to sample the posterior PDF and the subsurface model characteristics can be inferred by analyzing a set of the posterior PDF samples. In this paper, we first introduce the stochastic seismic inversion theory, discuss and analyze the four key parameters： seismic data signal-to-noise ratio （S/N）, variogram, the posterior PDF sample number, and well density, and propose the optimum selection of these parameters. The analysis results show that seismic data S/N adjusts the compromise between the influence of the seismic data and geostatistics on the inversion results, the variogram controls the smoothness of the inversion results, the posterior PDF sample number determines the reliability of the statistical characteristics derived from the samples, and well density influences the inversion uncertainty. Finally, the comparison between the stochastic seismic inversion and the deterministic model based seismic inversion indicates that the stochastic seismic inversion can provide more reliable information of the subsurface character.
基金Supported by the National Natural Science Foundation of China (No. 40776006)Shanghai Typhoon Research Fund (No.2009ST05)
文摘The parameters of principal and directional extrema in a marine environment are important in marine engineering design, especially for appropriate construction of oceanic platforms and other structures. When designing wave walls and break water structures, the orientation of the breakwater or seawall depends mainly on the direction of the strongest waves. However, the strength of the breakwater and the elevation of the seawall depend on the magnitude of the biggest wave height of the strongest waves. Thus, identification of directional extrema plays an important role in the design of wave factors. When calculating the directional extremum, different materials may require different specific computational methods, yet few theoretical studies have been conducted in this field of research. Based on multivariate extremnm statistical theory, this paper utilizes a discrete random variable to build a joint probability model compounded by a discrete random variable and a multivariate continuous random variable. Furthermore, this paper provides the first investigation on the theories and methodologies to deduce wave directional extrema. The results provide tools for both creating the calculation method of the directional extremum value and providing the rational directional extremum parameters for marine engineering design.
文摘By using a well known result in combinatorics, named Konig Lemma, this paper generalized the method of constructing measure by repeated subdivision, which was a basic tool for fractal geometry. A more general method was presented to construct measure, which was an essential improvement to the existing result. The proof employed a skill similar to that for Konig Lemma, which helped to avoid using the compactness in Euclidean space. Two conditions of the existing method were found not necessary.
文摘There is an extensive branch of literature that examines the success of Altman＇s Z-score in predicting bankruptcy or financial distress. The goal of this research paper is to investigate the stock price performance of firms that exhibit a large probability of bankruptcy according to the model of Airman. Regardless of the validity of Airman＇s Z-score, we utilize a new empirical design that relates stock price movements to Altman＇s Z-score. We focus and examine, through the methodology of panel data, whether stocks that have a high probability of bankruptcy underperform stocks with a low probability of bankruptcy or if there are differences in the way the markets react to the financial health of the sample firms.
基金the Scientific Research Foundation of Hunan Education Department (No. 05C185)
文摘A new mathematical expectation formula with some hypotheses, notions and propositions was given to get rid of the challenge of St. Petersburg paradox and Pascal's wager. Relevant results show that it is very effective to apply the model to solve the expected revenue problems containing random events with low proba-bility but high revenue. This work also provides the probability theory with a more widely applied perspective in group decision-making.
文摘Investors have traditionally been viewed as economically rational individuals who make decisions based on all available information. They have been assumed to use probability functions to arrive at the most optimal decision. More recent studies propose that investors are irrational and systematically overreact to good and bad information events. The concept of the rational investor has been supported by among others Efficient Market Hypothesis and Modem Portfolio Theory. Other studies opposed to the notion of rational investors have identified psychological biases that influence decision making process of an investor, and leading them to make irrational decisions. Several anomalies have been identified that deviate from rational behavior. The objective of this paper was to test for investor rationality for companies listed at the Nairobi Stock Exchange. This paper tested overreaction by investors to news and performance of companies listed at the Nairobi Stock Market as an anomaly that has been proven in other markets. The test involved forming companies into two portfolios, one of extreme good performers and the other of extreme poor performers during the base year. Performance of these portfolios was analyzed for a nine year period from the year of portfolio formation. The results are consistent with the notion of overreaction, showing that investors overreact to both good and bad news. Over the study period the loser portfolio outperformed the winner portfolio by about 35.92%. This confrere that investors are irrational and make decisions based on some biases.
基金Foundation item： the Natural Science Foundation of Beijing （No. 1062001）Academic Human Resources Development in Institutions of Higher Learning Under the Jurisdiction of Beijing Municipality（No. 05006011200702）.Acknowledgements The authors cordially thank the Associate Editor and Reviewers for their constructive comments which lead to improvement of the manuscript. They are also very grateful to Prof. Adelaide Figueiredo for his help.
文摘In goodness-of-fit tests, Pearson＇s chi-squared test is one of most widely used tools of formal statistical analysis. However, Pearson＇s chi-squared test depends on the partition of the sample space. Different constructions of the partition of the sample space may lead to different conclusions. Based on an equiprobable partition of sample space, a modified chi^quared test is proposed. A method for constructing the modified chi-squared test is proposed. As an application, the proposed test is used to test whether vectorial data come from an uniformity distribution defined on the hypersphere. Some simulation studies show that the modified chisquared test against different alternative is robust.
文摘The paper represents a rigorous treatment of the underlying quantum theory, not just in words but providing the underlying technical details, as to why matter occupies so large a volume and its intimate connection with the Pauli exclusion principle, as more and more matter is put together, as well as of the contraction or shrinkage of ＂bosonic matter＂, upon collapse, for which the Panli exclusion is abolished. From the derived explicit bounds of integrals of powers of the particle number densities, explicit bounds on probabilities of the occurrences of the events just described are extracted. These probabilities lead one to infer the change of the ＂size＂ or extension of such matter, upon expansion or contraction, respectively, as their content is increased.
基金Supported by the National Science Foundation of USA under Grant No. 0630370National Natural Science Foundation of Chinaunder Grant Nos. 90403028 and 11074260
文摘A recently developed B-spline algorithm is extended and utilized to calculate excited states of He atoms in the presence of strong magnetic fields.Binding energies are presented for He in the five excited atomic states 210-+,110-,210-,11(-1)+,and 2 1(1) + with magnetic field strength ranging from 0.0001 to 10 a.u.The obtained energies are compared with available theoretical data,and found to be in good agreement.We investigate influence of magnetic fields on atomic structures of multielectron atoms,and illustrate that how electron probability density distributions change with increasing magnetic field strength.The current approach is directly applicable to simulations of discrete spectra for He atoms in the atmospheres of magnetized white dwarf stars.
