Is the Increment Principle Really Wrong ？

In view of the problems in the selection of alternatives which are mutually exclusive and the criticism against the increment principle, this article reveals the cause of the mistake and demonstrates that only the increment principle and the incremental analysis method is the principle and method that we should follow and adopt in schematizing the economic policy-making.

A Sparse Kernel Approximate Method for Fractional Boundary Value Problems

In this paper,the weak pre-orthogonal adaptive Fourier decomposition(W-POAFD)method is applied to solve fractional boundary value problems(FBVPs)in the reproducing kernel Hilbert spaces(RKHSs)W_(0)^(4)[0,1] and W^(1)[0,1].The process of the W-POAFD is as follows:(i)choose a dictionary and implement the pre-orthogonalization to all the dictionary elements;(ii)select points in[0,1]by the weak maximal selection principle to determine the corresponding orthonormalized dictionary elements iteratively;(iii)express the analytical solution as a linear combination of these determined dictionary elements.Convergence properties of numerical solutions are also discussed.The numerical experiments are carried out to illustrate the accuracy and efficiency of W-POAFD for solving FBVPs.

Insider Trading with a Random Deadline under Partial Observations:Maximal Principle Method

For a revised model of Caldentey and Stacchetti(Econometrica,2010)in continuous-time insider trading with a random deadline which allows market makers to observe some information on a risky asset,a closed form of its market equilibrium consisting of optimal insider trading intensity and market liquidity is obtained by maximum principle method.It shows that in the equilibrium,(i)as time goes by,the optimal insider trading intensity is exponentially increasing even up to infinity while both the market liquidity and the residual information are exponentially decreasing even down to zero;(ii)the more accurate information observed by market makers,the stronger optimal insider trading intensity is such that the total expect profit of the insider is decreasing even go to zero while both the market liquidity and the residual information are decreasing;(iii)the longer the mean of random time,the weaker the optimal insider trading intensity is while the more both the residual information and the expected profit are,but there is a threshold of trading time,half of the mean of the random time,such that if and only if after it the market liquidity is increasing with the mean of random time increasing.

Static rough similarity degree and its applications

The definition of rough similarity degree is given based on the axiomatic similarity degree, and the properties of rough similarity degree are listed. Using the properties of rough similarity degree, the method of clustering in rough systems can be obtained. After clustering, a new sample can be recognized by the principle of maximal rough similarity degree.

Rough similarity degree and rough close degree in rough fuzzy sets and the applications

Based on rough similarity degree of rough sets and close degree of fuzzy sets, the definitions of rough similarity degree and rough close degree of rough fuzzy sets are given, which can be used to measure the similar degree between two rough fuzzy sets. The properties and theorems are listed. Using the two new measures, the method of clustering in the rough fuzzy system can be obtained. After clustering, the new fuzzy sample can be recognized by the principle of maximal similarity degree.