A large number of debris flows occurred in the Wenchuan earthquake zone after the 12 May 2008 earthquake.The risks posed by these debris flows were rather high.An appropriate model is required to predict the possible ...A large number of debris flows occurred in the Wenchuan earthquake zone after the 12 May 2008 earthquake.The risks posed by these debris flows were rather high.An appropriate model is required to predict the possible runout distance and impacted area.This paper describes a study on the runout characteristics of the debris flows that occurred in the Wenchuan earthquake zone over the past four years.A total of 120 debris flows are analyzed.Separate multivariate regression models are established for the runout distances of hill-slope debris flows and channelized debris flows.The control variables include type of debris flow,debris flow volume,and elevation difference.Comparison of the debris flows occurring before and after the earthquake shows that the runout distance increased after the earthquake due to sufficient material supply and increased mobility of the source materials.In addition,the runout distances of annual debris flow events in 2008,2010 and 2011 are analyzed and compared.There is a tendency that the runout distance decreases over time due to the decreasing source material volume and possible changes of debris flow type.Comparison between the debris flows in the earthquake zone and the debris flows in Swiss Alps,Canada,Austria,and Japan shows that the former have a smaller mobility.展开更多
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
基金the support from Sichuan Provincial Department of Transportation and Communicationsthe National Basic Research Program of China (Grant No.2011CB013506)the Research Grants Council of the Hong Kong SAR (Grant No.622210)
文摘A large number of debris flows occurred in the Wenchuan earthquake zone after the 12 May 2008 earthquake.The risks posed by these debris flows were rather high.An appropriate model is required to predict the possible runout distance and impacted area.This paper describes a study on the runout characteristics of the debris flows that occurred in the Wenchuan earthquake zone over the past four years.A total of 120 debris flows are analyzed.Separate multivariate regression models are established for the runout distances of hill-slope debris flows and channelized debris flows.The control variables include type of debris flow,debris flow volume,and elevation difference.Comparison of the debris flows occurring before and after the earthquake shows that the runout distance increased after the earthquake due to sufficient material supply and increased mobility of the source materials.In addition,the runout distances of annual debris flow events in 2008,2010 and 2011 are analyzed and compared.There is a tendency that the runout distance decreases over time due to the decreasing source material volume and possible changes of debris flow type.Comparison between the debris flows in the earthquake zone and the debris flows in Swiss Alps,Canada,Austria,and Japan shows that the former have a smaller mobility.
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.
