Integrating marketing and distribution businesses is crucial for improving the coordination of equipment and the efficient management of multi-energy systems.New energy sources are continuously being connected to dist...Integrating marketing and distribution businesses is crucial for improving the coordination of equipment and the efficient management of multi-energy systems.New energy sources are continuously being connected to distribution grids;this,however,increases the complexity of the information structure of marketing and distribution businesses.The existing unified data model and the coordinated application of marketing and distribution suffer from various drawbacks.As a solution,this paper presents a data model of"one graph of marketing and distribution"and a framework for graph computing,by analyzing the current trends of business and data in the marketing and distribution fields and using graph data theory.Specifically,this work aims to determine the correlation between distribution transformers and marketing users,which is crucial for elucidating the connection between marketing and distribution.In this manner,a novel identification algorithm is proposed based on the collected data for marketing and distribution.Lastly,a forecasting application is developed based on the proposed algorithm to realize the coordinated prediction and consumption of distributed photovoltaic power generation and distribution loads.Furthermore,an operation and maintenance(O&M)knowledge graph reasoning application is developed to improve the intelligent O&M ability of marketing and distribution equipment.展开更多
As a promising solution to address the“energy trilemma”confronting human society,peer-to-peer(P2P)energy trading has emerged and rapidly developed in recent years.When carrying out P2P energy trading,customers with ...As a promising solution to address the“energy trilemma”confronting human society,peer-to-peer(P2P)energy trading has emerged and rapidly developed in recent years.When carrying out P2P energy trading,customers with distributed energy resources(DERs)are able to directly trade and share energy with each other.This paper summarizes and analyzes the global development of P2P energy trading based on a comprehensive review of related academic papers,research projects,and industrial practice.Key aspects in P2P energy trading are identified and discussed,including market design,trading platforms,physical infrastructure and information and communication technology(ICT)infrastructure,social science perspectives,and policy.For each key aspect,existing research and practice are critically reviewed and insights for future development are presented.Comprehensive concluding remarks are provided at the end,summarizing the major findings and perspectives of this paper.P2P energy trading is a growing field with great potential and opportunities for both academia and industry across the world.展开更多
Reasonable income distribution and eradication of rural poverty are vital for building a moderately prosperous society in all respects in China.This paper primarily examines the income distribution and poverty reducti...Reasonable income distribution and eradication of rural poverty are vital for building a moderately prosperous society in all respects in China.This paper primarily examines the income distribution and poverty reduction effects of social security spending.Market income and redistribution policies are two determinants of income gaps.Based on CHIP2018 household survey data,we find that inadequate income redistribution policies have contributed to yawning income gaps,and that social security spending is more redistributive than personal income tax and social security contributions.After estimating the redistribution effects of social security spending and itemized incomes,we find that pension payments have contributed the most to household income gaps,and that subsistence protection and rural pension payments help improve income distribution.With respect to the poverty reduction effects of social security spending,we have estimated China’s current poverty incidence and the poverty reduction effects of pension payments,healthcare,and educational allowances with CHIP2018 data,and discover that an increase in social security spending may effectively reduce rural poverty.In building a moderately prosperous society in all respects,China should increase social security spending,focusing on specific target groups,and promote the role of social security spending in regulating income distribution and offering social protection to rural residents.展开更多
Business Marketing Management over the Internet has been receiving a“lot of ink”in current periodicals and to a lesser degree in academic literature.Practice changes so rapidly that principles emerging from last mo...Business Marketing Management over the Internet has been receiving a“lot of ink”in current periodicals and to a lesser degree in academic literature.Practice changes so rapidly that principles emerging from last month’s successes may need revi- sion before they are derived and printed.The emergence of electronic commerce has created a new business paradigm,one that pre- sents marketers with noteworthy opportunities and challenges.Perhaps the greatest impact is in the area of channel management. The top issue for many business-to-business (B2B) firms today is channel conflict.In this paper,we analyze the weakness of traditional place model at first.On the basis of it,we set forth the processes and advantages of direct place and indirect place un- der the environment of electronic commerce.Then this paper presents that we should develop association net,express net,service net and production net in order to create place advantage under the environment of electronic commerce.展开更多
The experiments of large consumers direct power trading is conducting in china nationwide, and it’s important to the reform of electricity market. To compensated efficiencies in security correction of large consumers...The experiments of large consumers direct power trading is conducting in china nationwide, and it’s important to the reform of electricity market. To compensated efficiencies in security correction of large consumers direct power trading, a novel security correction method based on DC power transfer distribution factor was proposed. Using the presented method to comply security correction, all the transactions that satisfy the specific requirements of maximizing social welfare are able to enter security correction process, and when the power of transmission line is out of limit, this method avoid the transaction which causes this problem is abandoned directly by introducing supplement transactions. The simulation has shown that the proposed security correction method of large consumers direct power trading based on DC power transfer distribution factor is effective.展开更多
This paper, based on the statistical data from the Sample Survey of Domestic Tourism in Inner Mongolia(2014), analyzed the distribution of the domestic tourism market across Inner Mongolia and its 4 tourism sections t...This paper, based on the statistical data from the Sample Survey of Domestic Tourism in Inner Mongolia(2014), analyzed the distribution of the domestic tourism market across Inner Mongolia and its 4 tourism sections through indexes including market concentration ratio, geographic concentration ratio, variance, etc.. The results showed that:(1) the market within the autonomous region remained to be the largest one in those 4 sections;(2) Beijing was the largest domestic tourism market outside Inner Mongolia;(3) different sections were divided on the target market of domestic tourism:(1) Beijing-Tianjin-Hebei Region proved to be the primary market of Inner Mongolia at large;(2) Beijing and 3 provinces in Northwest China came as the primary markets of Hulun Buir-Hinggan section;(3) Beijing-Tanjin-Hebei Region and Liaoning Province were the primary markets of Xilingol-Chifeng-Tongliao section;(4) BeijingShanxi-Hebei Region turned out to be the primary market of Huhhot-Baotou-Erdos-UlanqabBayannur section;(5) Beijing and Gansu were the primary markets of Wuhai-Alxa section;(4) the market concentration ratio of domestic tourism in different sections varied from each other, and the east section was the highest one, followed by middle section, Inner Mongolia as a whole, west section, and northeast section. As a result, authors of this paper made recommendations on how to develop the domestic tourism in Inner Mongolia.展开更多
The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect com...The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect competition model is the reference to judge the efficiency of markets. However, there is enough empirical evidence that shows that one of the most evident features of global firms is that both their size and market are Zipf-distributed. In this paper, we show that the distribution of market shares in the world cola-drink market is skewed, but it does not follow Zipf's law, thus it is inadequate to generalize it to any kind of market.展开更多
The use of different energy carriers together,known as an energy hub,has been a hot topic of research in recent years amongst scientists and researchers.The term energy hub refers to the simultaneous operation of vari...The use of different energy carriers together,known as an energy hub,has been a hot topic of research in recent years amongst scientists and researchers.The term energy hub refers to the simultaneous operation of various infrastructures for energy generation and transfer,which has gained momentum in the form of microgrids(MGs).This paper introduces a new strategy for the optimal performance of an MG consisting of different energy carriers for each day.In a smart distribution network(DN),MGs can reduce their own costs in the previous-day market by bidding on sales and purchases.The sales and purchases bidding problem is challenging due to different uncertainties,however.This paper proposes a two-stage strategy for making an optimal bid on electricity sales and purchases with electricity and gas price dependency in the previous-day and real-time markets for an energy hub.In this model,the MG behavior regarding the electricity and gas energy sales/purchase,the simultaneous effects of electricity and gas prices,as well as the energy carriers’dependence on one another are all examined.Due to the inherent uncertainty in the sources of clean energy production,the probabilistic model and the production and reduction scenario have been used in the paper to cover this issue.In the proposed grid,energy sales/purchases are presented in a multi-carrier MG in a two-stage model.This model is solved by using the harmony search algorithm in MATLAB.Numeric results demonstrate the benefits of this model in reducing energy hub costs of operation.展开更多
We consider a problem from stock market modeling, precisely, choice of adequate distribution of modeling extremal behavior of stock market data. Generalized extreme value (GEV) distribution and generalized Pareto (GP)...We consider a problem from stock market modeling, precisely, choice of adequate distribution of modeling extremal behavior of stock market data. Generalized extreme value (GEV) distribution and generalized Pareto (GP) distribution are the classical distributions for this problem. However, from 2004, [1] and many other researchers have been empirically showing that generalized logistic (GL) distribution is a better model than GEV and GP distributions in modeling extreme movement of stock market data. In this paper, we show that these results are not accidental. We prove the theoretical importance of GL distribution in extreme value modeling. For proving this, we introduce a general multivariate limit theorem and deduce some important multivariate theorems in probability as special cases. By using the theorem, we derive a limit theorem in extreme value theory, where GL distribution plays central role instead of GEV distribution. The proof of this result is parallel to the proof of classical extremal types theorem, in the sense that, it possess important characteristic in classical extreme value theory, for e.g. distributional property, stability, convergence and multivariate extension etc.展开更多
Human activities widely exhibit a power-law distribution.Considering stock trading as a typical human activity in the financial domain,the first aim of this paper is to validate whether the well-known power-law distri...Human activities widely exhibit a power-law distribution.Considering stock trading as a typical human activity in the financial domain,the first aim of this paper is to validate whether the well-known power-law distribution can be observed in this activity.Interestingly,this paper determines that the number of accumulated lead–lag days between stock pairs meets the power-law distribution in both the U.S.and Chinese stock markets based on 10 years of trading data.Based on this finding this paper adopts the power-law distribution to formally define the lead–lag effect,detect stock pairs with the lead–lag effect,and then design a pure lead–lag investment strategy as well as enhancement investment strategies by integrating the lead–lag strategy into classic alpha-factor strategies.Tests conducted on 20 different alpha-factor strategies demonstrate that both perform better than the selected benchmark strategy and that the lead–lag strategy provides useful signals that significantly improve the performance of basic alpha-factor strategies.Our results therefore indicate that the lead–lag effect may provide effective information for designing more profitable investment strategies.展开更多
A Virtual Power Plant (VPP), aggregating the capacities of distributed energy resources (DER) as a single profile, provides presence of DERs in the electricity market. In this paper, a stochastic bidding model is prop...A Virtual Power Plant (VPP), aggregating the capacities of distributed energy resources (DER) as a single profile, provides presence of DERs in the electricity market. In this paper, a stochastic bidding model is proposed for the VPP to optimise the bids in the day-ahead and balancing market, with the objective to maximise its expected economic profit. The performance of proposed strategy has been assessed in a modified commercial VPP (CVPP) system with wind generation installed, and also the results are compared with the ones achieved from other commonly-used strategies to verify its feasibility.展开更多
Empirical studies have shown that a large number of financial asset returns exhibit fat tails (leptokurtosis) and are often characterized by volatility clustering and asymmetry. This paper considers the ability of t...Empirical studies have shown that a large number of financial asset returns exhibit fat tails (leptokurtosis) and are often characterized by volatility clustering and asymmetry. This paper considers the ability of the GARCH-Type (Generalized Autoregressive Conditional Heteroskedasticity) models to capture the stylized features of volatility in national stock market returns for three countries (Portugal, Spain and Greece). The results of this paper suggest that in the presence of asymmetric responses to innovations in the market, the ARMA (1,1)-GJRGARCH(1,1) skewed Student-t model which accommodates both the skewness and the kurtosis of financial time series is preferred.展开更多
Based on the energy distribution and economy status In the Northwest Region in China, this paper analyzes the probability of power sources complementation between Northwest Power Grid and the adjacent regional power g...Based on the energy distribution and economy status In the Northwest Region in China, this paper analyzes the probability of power sources complementation between Northwest Power Grid and the adjacent regional power grids, and points out that the strategic emphases for Northwest power development are to speed up 750 kV transmis-sion system construction, expand the Regional power market, rolling-develop hydrdpower stations on the Upper Yellow River, speed up thermal power bases construction and boost the interconnection between Northwest and North China, etc.展开更多
Market beta is a measure of the volatility or systematic risk of a security or portfolio compared to the market as a whole. This paper considers the distributed estimation of market beta in the case of massive data, a...Market beta is a measure of the volatility or systematic risk of a security or portfolio compared to the market as a whole. This paper considers the distributed estimation of market beta in the case of massive data, and obtains the consistency and asymptotic normality of the estimator. Further, simulations show the finite sample properties of this estimator.展开更多
基金This work was supported by the National Key R&D Program of China(2020YFB0905900).
文摘Integrating marketing and distribution businesses is crucial for improving the coordination of equipment and the efficient management of multi-energy systems.New energy sources are continuously being connected to distribution grids;this,however,increases the complexity of the information structure of marketing and distribution businesses.The existing unified data model and the coordinated application of marketing and distribution suffer from various drawbacks.As a solution,this paper presents a data model of"one graph of marketing and distribution"and a framework for graph computing,by analyzing the current trends of business and data in the marketing and distribution fields and using graph data theory.Specifically,this work aims to determine the correlation between distribution transformers and marketing users,which is crucial for elucidating the connection between marketing and distribution.In this manner,a novel identification algorithm is proposed based on the collected data for marketing and distribution.Lastly,a forecasting application is developed based on the proposed algorithm to realize the coordinated prediction and consumption of distributed photovoltaic power generation and distribution loads.Furthermore,an operation and maintenance(O&M)knowledge graph reasoning application is developed to improve the intelligent O&M ability of marketing and distribution equipment.
基金the Horizon 2020 project P2P-SmarTest,EPSRC Supergen Hub on Energy Networks(EP/S00078X/1)and MISTRAL(EP/N017064/1).
文摘As a promising solution to address the“energy trilemma”confronting human society,peer-to-peer(P2P)energy trading has emerged and rapidly developed in recent years.When carrying out P2P energy trading,customers with distributed energy resources(DERs)are able to directly trade and share energy with each other.This paper summarizes and analyzes the global development of P2P energy trading based on a comprehensive review of related academic papers,research projects,and industrial practice.Key aspects in P2P energy trading are identified and discussed,including market design,trading platforms,physical infrastructure and information and communication technology(ICT)infrastructure,social science perspectives,and policy.For each key aspect,existing research and practice are critically reviewed and insights for future development are presented.Comprehensive concluding remarks are provided at the end,summarizing the major findings and perspectives of this paper.P2P energy trading is a growing field with great potential and opportunities for both academia and industry across the world.
文摘Reasonable income distribution and eradication of rural poverty are vital for building a moderately prosperous society in all respects in China.This paper primarily examines the income distribution and poverty reduction effects of social security spending.Market income and redistribution policies are two determinants of income gaps.Based on CHIP2018 household survey data,we find that inadequate income redistribution policies have contributed to yawning income gaps,and that social security spending is more redistributive than personal income tax and social security contributions.After estimating the redistribution effects of social security spending and itemized incomes,we find that pension payments have contributed the most to household income gaps,and that subsistence protection and rural pension payments help improve income distribution.With respect to the poverty reduction effects of social security spending,we have estimated China’s current poverty incidence and the poverty reduction effects of pension payments,healthcare,and educational allowances with CHIP2018 data,and discover that an increase in social security spending may effectively reduce rural poverty.In building a moderately prosperous society in all respects,China should increase social security spending,focusing on specific target groups,and promote the role of social security spending in regulating income distribution and offering social protection to rural residents.
文摘Business Marketing Management over the Internet has been receiving a“lot of ink”in current periodicals and to a lesser degree in academic literature.Practice changes so rapidly that principles emerging from last month’s successes may need revi- sion before they are derived and printed.The emergence of electronic commerce has created a new business paradigm,one that pre- sents marketers with noteworthy opportunities and challenges.Perhaps the greatest impact is in the area of channel management. The top issue for many business-to-business (B2B) firms today is channel conflict.In this paper,we analyze the weakness of traditional place model at first.On the basis of it,we set forth the processes and advantages of direct place and indirect place un- der the environment of electronic commerce.Then this paper presents that we should develop association net,express net,service net and production net in order to create place advantage under the environment of electronic commerce.
文摘The experiments of large consumers direct power trading is conducting in china nationwide, and it’s important to the reform of electricity market. To compensated efficiencies in security correction of large consumers direct power trading, a novel security correction method based on DC power transfer distribution factor was proposed. Using the presented method to comply security correction, all the transactions that satisfy the specific requirements of maximizing social welfare are able to enter security correction process, and when the power of transmission line is out of limit, this method avoid the transaction which causes this problem is abandoned directly by introducing supplement transactions. The simulation has shown that the proposed security correction method of large consumers direct power trading based on DC power transfer distribution factor is effective.
基金Sponsored by Social Science Project of Inner Mongolia Autonomous Region(2016NDB026)Natural Science Foundation of Inner Mongolia(2015MS0406)Startup Program for High-Level Talents of Inner Mongolia University(20500-5165138)
文摘This paper, based on the statistical data from the Sample Survey of Domestic Tourism in Inner Mongolia(2014), analyzed the distribution of the domestic tourism market across Inner Mongolia and its 4 tourism sections through indexes including market concentration ratio, geographic concentration ratio, variance, etc.. The results showed that:(1) the market within the autonomous region remained to be the largest one in those 4 sections;(2) Beijing was the largest domestic tourism market outside Inner Mongolia;(3) different sections were divided on the target market of domestic tourism:(1) Beijing-Tianjin-Hebei Region proved to be the primary market of Inner Mongolia at large;(2) Beijing and 3 provinces in Northwest China came as the primary markets of Hulun Buir-Hinggan section;(3) Beijing-Tanjin-Hebei Region and Liaoning Province were the primary markets of Xilingol-Chifeng-Tongliao section;(4) BeijingShanxi-Hebei Region turned out to be the primary market of Huhhot-Baotou-Erdos-UlanqabBayannur section;(5) Beijing and Gansu were the primary markets of Wuhai-Alxa section;(4) the market concentration ratio of domestic tourism in different sections varied from each other, and the east section was the highest one, followed by middle section, Inner Mongolia as a whole, west section, and northeast section. As a result, authors of this paper made recommendations on how to develop the domestic tourism in Inner Mongolia.
文摘The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect competition model is the reference to judge the efficiency of markets. However, there is enough empirical evidence that shows that one of the most evident features of global firms is that both their size and market are Zipf-distributed. In this paper, we show that the distribution of market shares in the world cola-drink market is skewed, but it does not follow Zipf's law, thus it is inadequate to generalize it to any kind of market.
基金supported as a Major Project of the Beijing Social Science Foundation“Research on Financial Support System Adapting to the Coordinated Development of Strategic Emerging Industries in Beijing-Tianjin-Hebei”,No.20ZDA11.
文摘The use of different energy carriers together,known as an energy hub,has been a hot topic of research in recent years amongst scientists and researchers.The term energy hub refers to the simultaneous operation of various infrastructures for energy generation and transfer,which has gained momentum in the form of microgrids(MGs).This paper introduces a new strategy for the optimal performance of an MG consisting of different energy carriers for each day.In a smart distribution network(DN),MGs can reduce their own costs in the previous-day market by bidding on sales and purchases.The sales and purchases bidding problem is challenging due to different uncertainties,however.This paper proposes a two-stage strategy for making an optimal bid on electricity sales and purchases with electricity and gas price dependency in the previous-day and real-time markets for an energy hub.In this model,the MG behavior regarding the electricity and gas energy sales/purchase,the simultaneous effects of electricity and gas prices,as well as the energy carriers’dependence on one another are all examined.Due to the inherent uncertainty in the sources of clean energy production,the probabilistic model and the production and reduction scenario have been used in the paper to cover this issue.In the proposed grid,energy sales/purchases are presented in a multi-carrier MG in a two-stage model.This model is solved by using the harmony search algorithm in MATLAB.Numeric results demonstrate the benefits of this model in reducing energy hub costs of operation.
文摘We consider a problem from stock market modeling, precisely, choice of adequate distribution of modeling extremal behavior of stock market data. Generalized extreme value (GEV) distribution and generalized Pareto (GP) distribution are the classical distributions for this problem. However, from 2004, [1] and many other researchers have been empirically showing that generalized logistic (GL) distribution is a better model than GEV and GP distributions in modeling extreme movement of stock market data. In this paper, we show that these results are not accidental. We prove the theoretical importance of GL distribution in extreme value modeling. For proving this, we introduce a general multivariate limit theorem and deduce some important multivariate theorems in probability as special cases. By using the theorem, we derive a limit theorem in extreme value theory, where GL distribution plays central role instead of GEV distribution. The proof of this result is parallel to the proof of classical extremal types theorem, in the sense that, it possess important characteristic in classical extreme value theory, for e.g. distributional property, stability, convergence and multivariate extension etc.
基金supported by the National Natural Science Foundation of China(72171059,71771041)the Fundamental Research Funds for the Central Universities(FRFCU5710000220)the Natural Science Foundation of Heilongjiang Province,China(No.YQ2020G003).
文摘Human activities widely exhibit a power-law distribution.Considering stock trading as a typical human activity in the financial domain,the first aim of this paper is to validate whether the well-known power-law distribution can be observed in this activity.Interestingly,this paper determines that the number of accumulated lead–lag days between stock pairs meets the power-law distribution in both the U.S.and Chinese stock markets based on 10 years of trading data.Based on this finding this paper adopts the power-law distribution to formally define the lead–lag effect,detect stock pairs with the lead–lag effect,and then design a pure lead–lag investment strategy as well as enhancement investment strategies by integrating the lead–lag strategy into classic alpha-factor strategies.Tests conducted on 20 different alpha-factor strategies demonstrate that both perform better than the selected benchmark strategy and that the lead–lag strategy provides useful signals that significantly improve the performance of basic alpha-factor strategies.Our results therefore indicate that the lead–lag effect may provide effective information for designing more profitable investment strategies.
文摘A Virtual Power Plant (VPP), aggregating the capacities of distributed energy resources (DER) as a single profile, provides presence of DERs in the electricity market. In this paper, a stochastic bidding model is proposed for the VPP to optimise the bids in the day-ahead and balancing market, with the objective to maximise its expected economic profit. The performance of proposed strategy has been assessed in a modified commercial VPP (CVPP) system with wind generation installed, and also the results are compared with the ones achieved from other commonly-used strategies to verify its feasibility.
文摘Empirical studies have shown that a large number of financial asset returns exhibit fat tails (leptokurtosis) and are often characterized by volatility clustering and asymmetry. This paper considers the ability of the GARCH-Type (Generalized Autoregressive Conditional Heteroskedasticity) models to capture the stylized features of volatility in national stock market returns for three countries (Portugal, Spain and Greece). The results of this paper suggest that in the presence of asymmetric responses to innovations in the market, the ARMA (1,1)-GJRGARCH(1,1) skewed Student-t model which accommodates both the skewness and the kurtosis of financial time series is preferred.
文摘Based on the energy distribution and economy status In the Northwest Region in China, this paper analyzes the probability of power sources complementation between Northwest Power Grid and the adjacent regional power grids, and points out that the strategic emphases for Northwest power development are to speed up 750 kV transmis-sion system construction, expand the Regional power market, rolling-develop hydrdpower stations on the Upper Yellow River, speed up thermal power bases construction and boost the interconnection between Northwest and North China, etc.
文摘Market beta is a measure of the volatility or systematic risk of a security or portfolio compared to the market as a whole. This paper considers the distributed estimation of market beta in the case of massive data, and obtains the consistency and asymptotic normality of the estimator. Further, simulations show the finite sample properties of this estimator.