In quantum mechanics, the expectation value of an operator can be measured by using the projective measurement, ifthe coupling between the measured system and pointer is strong enough. However in the weak coupling reg...In quantum mechanics, the expectation value of an operator can be measured by using the projective measurement, ifthe coupling between the measured system and pointer is strong enough. However in the weak coupling regime, the pointercan not show all the eigenvalue of the physical quantity directly due to the overlapping among the pointer states, whichmakes the measurement of the expectation value difficult. In this paper, we propose an expectation value measurementmethod in the weak coupling regime inspired by the weak measurement scheme. Compared to the projective measurement,our scheme has two obvious advantages. Experimentally we use the internal state and motional state of a single trapped40Ca+ to establish the measurement scheme and realize the proof of principle demonstration of the scheme.展开更多
In this note, the expectation value of time based on quantum mechanics formalism is derived. It is found that the expectation value of time does not depend on space.
In this paper, we consider a risk model in which two types of individual claims, main claims and by-claims, are defined. Every by-claim is induced by the main claim randomly and may be delayed for one time period with...In this paper, we consider a risk model in which two types of individual claims, main claims and by-claims, are defined. Every by-claim is induced by the main claim randomly and may be delayed for one time period with a certain probability. The dividend policy that certain amount of dividends will be paid as long as the surplus is greater than a constant dividend barrier is also introduced into this delayed claims risk model. By means of the probability generating functions, formulae for the expected present value of total dividend payments prior to ruin are obtained for discrete-type individual claims. Explicit expressions for the corresponding results are derived for K n claim amount distributions. Numerical illustrations are also given.展开更多
The paper concerns the problem how to purchase the reinsurance in order to make the insurer and the reinsurance company＇s total risk to be least under the expected value principle. When the insurer and reinsurance co...The paper concerns the problem how to purchase the reinsurance in order to make the insurer and the reinsurance company＇s total risk to be least under the expected value principle. When the insurer and reinsurance company take arbitrary risk measures, sufficient con- ditions for optimality of reinsurance contract are given within the restricted class of admissible contracts. Further, the explicit forms of optimal reinsurance contract under several special risk measures are given, and the method to decide parameters as well.展开更多
Conjunction of two probability laws can give rise to a possibility law. Using two probability densities over two disjoint ranges, we can define the fuzzy mean of a fuzzy variable with the help of means two random vari...Conjunction of two probability laws can give rise to a possibility law. Using two probability densities over two disjoint ranges, we can define the fuzzy mean of a fuzzy variable with the help of means two random variables in two disjoint spaces.展开更多
In recent years,China has accelerated the reform of its oil and gas management system,especially in competitive transfer of mining rights.Evaluating the expected value(EV)of lease blocks is crucial for the bidding dec...In recent years,China has accelerated the reform of its oil and gas management system,especially in competitive transfer of mining rights.Evaluating the expected value(EV)of lease blocks is crucial for the bidding decision of oil companies.When bidding for a block with several individual prospects,the simple addition of each prospect EV usually leads to overly high and optimistic resource volume and value estimates.For the assessment of the EV of a multi-prospect block,two factors should be considered.Firstly,the geological setting of the prospects,including their relative spatial relationship,their chance of geological success,their resources and their geological dependency,etc.The second factor is the exploration strategy of oil companies,concerned with the dry hole tolerance,the committed wells and the drilling priorities for the prospects,etc.A probabilistic method to assess the EV of a multi-prospect block is proposed,which proves to be favorable for formulating a bidding strategy for oil companies.In addition,a case study on two specific blocks with several prospects is presented to illustrate the effect of the above mentioned factors on the EV.展开更多
This paper analyzes the relationship between the risk factor of each stock and the portfolio’s risk based on a small portfolio with four U.S.stocks,and the reason why these risk factors can be regarded as a market in...This paper analyzes the relationship between the risk factor of each stock and the portfolio’s risk based on a small portfolio with four U.S.stocks,and the reason why these risk factors can be regarded as a market invariant.Then,it evaluates the properties of the convex and coherent risk indicators of the capital requirement index composed of VaR and ES,and use three methods(the historical estimation method,boudoukh’s mixed method and Monte Carlo method)to estimate the risk measurement indicators VaR and ES respectively based on the assumption of multivariate normal distribution’risk factors and multivariate student t-copula distribution’s one,finally it figures out that these three calculation results are very close.展开更多
Through the Economic-Value-Added(EVA)valuation model,the expected market value of equity can be determined by adding the book value of equity with the present value of expected EVAs under the assumption of constant re...Through the Economic-Value-Added(EVA)valuation model,the expected market value of equity can be determined by adding the book value of equity with the present value of expected EVAs under the assumption of constant required return and constant return on equity.The equation of EVA valuation model has taken its shape under the assumption of constant required return and constant return on equity.However,a large body of empirical evidence indicates that required rate of return never remain constant.The EVA-valuation model formulated under constant required return cannot be implemented under the scenario of changing required return.In this study,we explored whether the EVA valuation model could be implemented under changing required return by making any changes in the model and found that it could be implemented under the scenario of changing required return by replacing the book value of the equity of the existing model with the present value of required earnings or normal market earnings.We further examined whether the explanatory ability of the EVA valuation model under the assumption of changing required return is better than that of the valuation model under the assumption of constant required return.Relative information content analyses were conducted by considering sample of the intrinsic value of equities determined by valuation models and the market value of equities of 69 large-cap,88 mid-cap,and 79 small-cap companies.The results showed that the EVA-based valuation model with changing normal market return outperformed the EVA-based valuation model with constant required return.展开更多
In this paper,the optional and predictable projections of set-valued measurable processes are studied.The existence and uniqueness of optional and predictable projections of set-valued measurable processes are proved ...In this paper,the optional and predictable projections of set-valued measurable processes are studied.The existence and uniqueness of optional and predictable projections of set-valued measurable processes are proved under proper circumstances.展开更多
基金Project supported by the National Natural Science Foundation of China(Grant Nos.12004430 and 61632021)the National Basic Research Program of China(Grant No.2016YFA0301903).
文摘In quantum mechanics, the expectation value of an operator can be measured by using the projective measurement, ifthe coupling between the measured system and pointer is strong enough. However in the weak coupling regime, the pointercan not show all the eigenvalue of the physical quantity directly due to the overlapping among the pointer states, whichmakes the measurement of the expectation value difficult. In this paper, we propose an expectation value measurementmethod in the weak coupling regime inspired by the weak measurement scheme. Compared to the projective measurement,our scheme has two obvious advantages. Experimentally we use the internal state and motional state of a single trapped40Ca+ to establish the measurement scheme and realize the proof of principle demonstration of the scheme.
文摘In this note, the expectation value of time based on quantum mechanics formalism is derived. It is found that the expectation value of time does not depend on space.
基金The NSF (11201217) of Chinathe NSF (20132BAB211010) of Jiangxi Province
文摘In this paper, we consider a risk model in which two types of individual claims, main claims and by-claims, are defined. Every by-claim is induced by the main claim randomly and may be delayed for one time period with a certain probability. The dividend policy that certain amount of dividends will be paid as long as the surplus is greater than a constant dividend barrier is also introduced into this delayed claims risk model. By means of the probability generating functions, formulae for the expected present value of total dividend payments prior to ruin are obtained for discrete-type individual claims. Explicit expressions for the corresponding results are derived for K n claim amount distributions. Numerical illustrations are also given.
文摘The paper concerns the problem how to purchase the reinsurance in order to make the insurer and the reinsurance company＇s total risk to be least under the expected value principle. When the insurer and reinsurance company take arbitrary risk measures, sufficient con- ditions for optimality of reinsurance contract are given within the restricted class of admissible contracts. Further, the explicit forms of optimal reinsurance contract under several special risk measures are given, and the method to decide parameters as well.
文摘Conjunction of two probability laws can give rise to a possibility law. Using two probability densities over two disjoint ranges, we can define the fuzzy mean of a fuzzy variable with the help of means two random variables in two disjoint spaces.
基金Sinopec Science and Technology Research Project"Evaluation and Decision Support Technology for Oil and Gas Strategic Area Selection"(P21086-1).
文摘In recent years,China has accelerated the reform of its oil and gas management system,especially in competitive transfer of mining rights.Evaluating the expected value(EV)of lease blocks is crucial for the bidding decision of oil companies.When bidding for a block with several individual prospects,the simple addition of each prospect EV usually leads to overly high and optimistic resource volume and value estimates.For the assessment of the EV of a multi-prospect block,two factors should be considered.Firstly,the geological setting of the prospects,including their relative spatial relationship,their chance of geological success,their resources and their geological dependency,etc.The second factor is the exploration strategy of oil companies,concerned with the dry hole tolerance,the committed wells and the drilling priorities for the prospects,etc.A probabilistic method to assess the EV of a multi-prospect block is proposed,which proves to be favorable for formulating a bidding strategy for oil companies.In addition,a case study on two specific blocks with several prospects is presented to illustrate the effect of the above mentioned factors on the EV.
文摘This paper analyzes the relationship between the risk factor of each stock and the portfolio’s risk based on a small portfolio with four U.S.stocks,and the reason why these risk factors can be regarded as a market invariant.Then,it evaluates the properties of the convex and coherent risk indicators of the capital requirement index composed of VaR and ES,and use three methods(the historical estimation method,boudoukh’s mixed method and Monte Carlo method)to estimate the risk measurement indicators VaR and ES respectively based on the assumption of multivariate normal distribution’risk factors and multivariate student t-copula distribution’s one,finally it figures out that these three calculation results are very close.
文摘Through the Economic-Value-Added(EVA)valuation model,the expected market value of equity can be determined by adding the book value of equity with the present value of expected EVAs under the assumption of constant required return and constant return on equity.The equation of EVA valuation model has taken its shape under the assumption of constant required return and constant return on equity.However,a large body of empirical evidence indicates that required rate of return never remain constant.The EVA-valuation model formulated under constant required return cannot be implemented under the scenario of changing required return.In this study,we explored whether the EVA valuation model could be implemented under changing required return by making any changes in the model and found that it could be implemented under the scenario of changing required return by replacing the book value of the equity of the existing model with the present value of required earnings or normal market earnings.We further examined whether the explanatory ability of the EVA valuation model under the assumption of changing required return is better than that of the valuation model under the assumption of constant required return.Relative information content analyses were conducted by considering sample of the intrinsic value of equities determined by valuation models and the market value of equities of 69 large-cap,88 mid-cap,and 79 small-cap companies.The results showed that the EVA-based valuation model with changing normal market return outperformed the EVA-based valuation model with constant required return.
基金National Natural Science Foundation of China(1 9971 0 72 )
文摘In this paper,the optional and predictable projections of set-valued measurable processes are studied.The existence and uniqueness of optional and predictable projections of set-valued measurable processes are proved under proper circumstances.
