A Three-Stage Stochastic Dynamic Pricing Game Model Affected by New Products into the Market

In real-life marketing, a common phenomenon is that the prices of current product will have been cut down even the new product has not gone into market yet. Thus, it is very important for merchant to set the strategy which can make the excepted revenue maximum. So, this paper constructs a three-stage stochastic dynamic pricing game model for analyzing the influence of the uncertainty of entry timing of the new products on pricing of products being sold. By analyzing of the pricing strategy, there are big differences in the predictions of new product going into market between merchant and customers;the merchant will adopt cutting price for promotion strategy to reduce negative influence of the new products on the demand of the products sold now. Otherwise, the merchant will adopt the strategy of maximizing current period’s profit.

Policy Recommendations to Prevent Financial Risks Caused by Speculative Capital Flows

There are two inaccuracies to the common belief that hot money flows into China through international trade: "hot money" and "trade channels". First, China’s domestic financial market is still at the initial stage of development, and foreign exchange control has put barriers to entry and exit of overseas capital. Strictly speaking, the short-term highly liquid "hot money" does not exist in China, and is referred to as long-term speculative capital in this paper. Second, such capital does not come from trade alone. International trade is only part of corporate business operations, and a more reasonable and complete description is that "overseas capital flows into China through foreign-funded enterprises". Through analysis of the inflow channels, this paper estimates that the stock of long-term speculative capital between 1999 and 2006 stands at almost US$ 400 billion. The year 2006 saw an increase of US$ 98.09 billion, of which US$ 35.4 billion was formed through international trade, which equals to roughly 20% of trade surplus that year. But this does not mean that 20% of trade surplus is long-term speculative capital.

Depreciation of Millennials in Organizational Settings: What Underlying Factors in a Traditional Values Context

This study sets out to examine:In a traditional value context,which variables are related to the attitude of depreciation of Millennials by GX in an organizational setting?Through a Factorial Correspondence Analysis,it is postulated that three factors would be at the origin of the depreciation of Millennials in an organizational environment.The analysis shows a correlation between the 10 variables analyzed,but two factors emerge:the GY’s ability to invest or build and the GY’s commitment to starting a household.The hypothesis that there are three latent factors underlying the data analyzed is therefore rejected.

Exchange rate,discount rate,interest rate and depreciation rate

exchange rate:汇率,外汇汇率,指一个国家的货币和另一个国家的货币的比价。中国人民银行每天公布人民币市场汇价。如:market Exchange Rates in RMB yuan set by the People’s Bank ofChina(September 4,1998)Currency Unit RateUS dollar 100 828.00Japanese yen 100 6.0291German mark 100 478.

Depreciation of the Economic Value of Historic Properties

Historic properties are cultural, historic and/or architectural heritage assets that may have legal or statutory protection due to their cultural and economic importance. Often the real estate with a certain historical value is privately owned, and the owners request the estimation of the value of these properties, either for advisory purposes, or to gage the property for the purpose of lending, or for other purposes. In this research, the authors, within the framework of the cost approach, analyze the peculiarities of estimating the depreciation of the economic value of real estate properties with historic/architectural value. The emphasis is placed on the methods of estimating the physical depreciation and it is recommended to apply them depending on the condition of the construction and the use or non-use of the real estate for a long time. Based on a case study, the authors explain the paradox of the value of real estate with advanced age located in compact historical areas.

Depreciation factor equation to evaluate the economic losses from ground failure due to subsidence related to groundwater withdrawal

Subsidence due to groundwater withdrawal is a complex hydrogeological process affecting numerous cities settled on top of fluviolacustrine deposits. The discrete spatial variation in the thickness of these deposits, in combination with subsidence due to groundwater withdrawal, generates differential settlements and aseismic ground failure (AGF) characterized by a welldefined scarp. In cities, such AGF causes severe damages to urban infrastructure and considerable economic impact. With the goal of arriving to a general criterion for evaluating the economic losses derived from AGF, in the present work we propose the following equation: ELi = PVi*DFi. Where PVi is the value of a property “i”, and DFi is a depreciation factor caused by structural damages of a property “i” due to AGF. The DFi is calculated empirically through: . This last equation is based on the spatial relations of coexistence and proximity of property polygons and the AGF axis. The coexistence is valued as the quotient of the affectation area divided by the total area of the involved property;and the proximity to the AGF axis is expressed as the inverse of the perpendicular distance from the centroid of the property polygon to the AGF axis. The sum of these terms is divided by two to determine the percentage that affects the property value (PVi). These equations are relevant because it is the first indicator designed for the discrete assessment of the economic impacts due to AGF, and can be applied to real estate infrastructure from either urban or rural areas.

Tax Incentives and Maturity Mismatch between Investment and Financing:Evidence from China

This paper examines the effects of China's accelerated depreciation policy(ADP)on the maturity mismatch between investment and financing.Using panel data for China's A-share nonfinancial listed companies from 2010 to 2019 and a staggered difference-in-differences approach,we found the following.First,ADP significantly aggravated the degree of corporate maturity mismatch,and this result was robust across multiple checks.Second,due to an insufficient long-term loan supply,firms had to finance the fixed investments induced by ADP with short-term debts,leading to maturity mismatches.Third,the positive policy effects were mainly significant for firms with high policy exposure,high-risk preferences,a high degree of information asymmetry,and firms with weak long-term financing capacity.Finally,maturity mismatch exacerbated corporate financial risks.Our research findings indicate that passive maturity mismatch is prevalent among Chinese companies and emphasize the need to address financial repression in order to mitigate the potential financial risks that may arise from tax incentives.

EXPLORING THE VALUE OF INSTALLED BASE:PRICING INFORMATION GOODS UNDER VALUE DEPRECIATION AND CONSUMER SOCIAL LEARNING

While last decade has witnessed a rapid growth of digital economy, there is limited understanding in literature on whether the conventional wisdom on pricing strategy still holds for information goods. On one hand, information goods, similar to durable goods, are subject to value depreciation; on the other, they differ from traditional goods in negligible marginal cost and the sensitivity to social influences. This paper develops a two-period, game-theoretic model to investigate optimal pricing strategy of information goods. On one dimension, two different depreciation mechanisms （self- and time-depreciation） are considered; on the other, two prevalent pricing schemes （perpetual licensing and subscription-fee models） are studied. We obtain closed-form solutions in all scenarios. Our findings suggest that vendors of time-depreciation information goods should adopt subscription-fee model to attract early adopters and exploit social influences, while the vendors of self-depreciation information goods should strategically balance between depreciation and social influences. Interestingly, as social influences become strong enough, the difference between pricing schemes diminishes and the tradeoff between candidate strategies vanishes. We also extend the model to static pricing in which the vendor commits to future price. We discover that the superiority of subscription-fee model might be overturned under static pricing. Our results above also imply that building consumer feedback and interaction systems could be helpful for minimizing the potential loss of a suboptimal pricing scheme.

Coping and rumination as predictors of posttraumatic growth and depreciation

Purpose: The present study examined the joint impact of coping and rumination after trauma on posttraumatic growth (PTG) and posttraumatic depreciation (PTD) based on the PTG model. Methods: A cross-sectional study was conducted between October 2017 and May 2018. A sample of 253 individuals who had experienced a traumatic event in the last two years, was included. Participants completed an online self-reported survey, including demographic variables, trauma characteristics, the German Posttraumatic Growth and Depreciation Inventory — Expanded, the Brief COPE Inventory, and the Event Related Rumination Inventory. An analysis of correlation, a principal component analysis and hierarchical regression analyses were conducted. Statistical analyses were undertaken on SPSS (version 25.0;IBM, New York, USA). Results: After controlling for the effects of personal and trauma characteristics, self-sufficient coping and socially supported coping were found to favor the emergence of PTG. Event-related and recent deliberate rumination were positively related to PTG. Avoidant-focused coping and recent intrusive rumination were positively associated with PTD. Overall, the final models accounted for 46% and 58% of the variance in PTG and PTD. Conclusion: Our findings confirm the PTG model and support the central role of deliberate rumination, self-sufficient coping and socially supported coping in the development of PTG. Our results indicate that a similar model of PTD with comparable influencing factors can be assumed: if the individual is stuck in ongoing intrusive rumination and uses more avoidance-focused coping, it might lead to more reports of PTD.

Depreciation of the Yen and its Impact on the Chinese Economy——Interview with Yu Yongding,Director,Institute of World Econnomics and Politics,CASS

Since early January this year,the Japanese yen has beendepreciating steadily, from 128 and 129 to 130 yen perdollar,which is the lowest in the last 38 months. It seemsJapan is finally playing its exchange rate card after fail-ing to revive its econmy through interest rate cuts andexpanding govemment expenditure. Do you think this"exchange rate card" can be the savior for Japan’seconomy? Is the yen depreciation the best choice to pre-vent its economy from falling further?

Optimization of depreciation subsidy policy strategies for electric two-wheelers for improving traffic safety

To improve the traffic safety of electric two-wheelers(ETW),China has promulgated ETW standardization policies.This policy requires local governments to take measures to guide the illegal ETWs out of use.Governments have implemented a depreciation subsidy scheme to encourage users to scrap illegal ETWs early.When designing the subsidy scheme,effectively improving the ETWs’traffic safety at the road network level while saving government expenses is essential for the sustainable implementation of the policy.This study proposes an optimization method for depreciation subsidy design incorporating traffic safety evaluation.Based on the policy scheme,this study formulates a risk assessment model for the ETW traffic network to characterize the effect of the subsidy on improving safety.Then,we use the bi-level programming approach to model the subsidy strategy design problem.The upper-level problem reflects the goal of policymakers to maximize safety improvement and minimize government expenses.The lower-level problem describes the route choices of ETW users.The optimal subsidy design under different safety-expense trade-offs is analysed based on the Nguyen and Dupuis network and a real network extracted from Changsha City in China.The results show that specific subsidy schemes effectively improve road safety without a large government spending.When themarket price or service life of ETWs increases,the government spending on the same safety goal increases.The government should comprehensively consider the safety effect of financial expense and the situation of the local ETW market before selecting reasonable subsidy strategies.

Variability in total cost of vehicle ownership across vehicle and user profiles

Widespread adoption of electric vehicles(EVs)is a common and critical component of international strategies to mitigate environmental pollution,climate change and oil dependency.The ability of consumers to assess the total cost of ownership(TCO)of EVs relative to internal combustion engine vehicles(ICEVs)remains an important factor for EV uptake.The TCO of vehicles is not universal across different car segments and user profiles.We analyse and compare the TCO of ICEVs and EVs from 17 car segments across short-and long-term ownership periods,and further advance existing TCO approaches by integrating detailed activity-based driving profiles,taxation,grant structures and pricing.Results show that EV options in the most popular Irish car segments have existing battery EV options with a TCO averaging respectively 26% and 42% less than their equivalent petrol and diesel ICEV options over a 4-year ownership term when the current grant is included.This integrated method for granular TCO evaluation offers important insights for this market and affords scope to investigate how changes in travel patterns,car-segment pricing,taxation,grant policy,fuel costs,and carbon pricing and other transport policies can all affect TCO values over time across a broad range of market offerings.