Strategic equilibrium price analysis and numerical simulation of preponderant high-tech metal mineral resources

Based on exploitation compensation value system of preponderant high-tech metal mineral resources and distortion of pricing mechanism, social utility function was constructed to modify decision utility function of developers, and was extended to Stackelberg production decision model of preponderant high-tech metal mineral resources development. Analyzing the influences on market monopoly, output and price decision-making exerted by altruistic preferences, inequity aversion and sequential reciprocity fairness belief equilibrium, game fairness equilibrium which is significant in experimental economics can be obtained and verified by numerical simulation. In process of strategic pricing, method that uses the variation of producer surplus to measure strategic value from psychological preferences was proposed for the first time and technical support to improve exploitation compensation value system of preponderant metal mineral resources was available.

NECESSARY AND SUFFICIENT CONDITION FOR THE EXISTENCE OF A NONNEGATIVE EQUILIBRIUM PRICE VECTOR IN THE CAPITAL MARKET WITH SHORT-SELLING

For the capital market satisfying standard assumptions that are widely adopted in the equilibrium analysis,a necessary and sufficient condition for the existence and uniqueness of a nonnegative equilibrium price vector that clears the mean-variance capital market with short sale allowed is derived.Moreover,the given explicit formula for the equilibrium price shows clearly the relationship between prices of assets and statistical properties of the rate of return on assets,the desired rates of return of individual investors as well as other economic quantities.The economic implication of the derived condition is briefly discussed.These results improve the available results about the equilibrium analysis of the mean-variance market.

Energy substitution game under the supply capacity restriction

Along with Chinese economic growth,energy plays a more and more important role in the national economy.The imbalance between insufficient energy supply and huge energy demand has become a major problem in energy utilization,and energy substitution is attracting more and more attention as a key to the sustainable and sound development of Chinese economy.Explored the possibilities of the mutual substitution of the two types of energy with different functions with game theory in light of the supply capacity.As a con- clusion,there are four equilibrium results corresponding to different levels of supply capac- ity.Subsequently,we carry on the study further by numerical simulation,investigate in one group of results most close to Chinese energy status and find the equilibrium price as well as the demand variation pattern.

Housing Price Fluctuations Across China:An Equilibrium Mechanism Perspective

The mechanisms affecting housing prices were studied using the equilibrium housing prices based on classic supply/demand theory. The fluctuations of the actual housing prices were then analyzed relative to the equilibrium prices. The equilibrium prices for each area were calculated from economic statistics and housing prices in 35 China metropolitan areas. The fluctuations of the actual prices are then manifested as functions of the equilibrium price, the mean reversion, and the autocorrelation coefficient. The results show that the equilibrium prices are determined by the basic economic conditions in China and that the equilibrium prices greatly affect the fluctuation of the actual prices, which return to the equilibrium price through self-adjustments. The data also shows that the actual prices in China have the trend of continuing to rise in the future.