The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between th...The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between the price of the virtual currency,Bitcoin,and the number of Google searches that used the terms bitcoin,bitcoin crash and crisis between December 2012 and February 2018 is analyzed.The study also applied the same analysis to prices of Bitcoin denominated in different sovereign currencies traded during the same period.The Johansen(J Econ Dyn Control 12:231-254,1988)test demonstrates that the price and number of searches on Google for the first two terms are cointegrated.This research indicates that there are strong short-term and long-term dynamics among attractiveness factors,suggesting that an increase in worldwide interest in Bitcoin is usually preceded by a price increase.In contrast,an increase in market mistrust over a collapse of the currency,as measured by the term bitcoin crash,is followed by a fall in price.Intense world economic crisis events appear to have a strong impact on interest in the virtual currency.This study demonstrates that during a worldwide crisis Bitcoin becomes an alternative investment,increasing its price.Based on it,bitcoin may be used as a safe haven by the financial market and its intrinsic characteristics might help the investors and governments to find new mechanisms to deal with monetary transactions.展开更多
The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming...The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming was utilized to minimize the maximum completion time for each cast without considering variable electricity price. At the second stage, based on obtained relative schedules of all casts, a mathematical model was formulated with an objective of minimizing the energy cost for all casts scheduling problem. The two-stage models were tested on randomly generated instances based on the practical process in a Chinese steelmaking plant. Computational results demonstrate the effectiveness of the proposed approach.展开更多
文摘The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between the price of the virtual currency,Bitcoin,and the number of Google searches that used the terms bitcoin,bitcoin crash and crisis between December 2012 and February 2018 is analyzed.The study also applied the same analysis to prices of Bitcoin denominated in different sovereign currencies traded during the same period.The Johansen(J Econ Dyn Control 12:231-254,1988)test demonstrates that the price and number of searches on Google for the first two terms are cointegrated.This research indicates that there are strong short-term and long-term dynamics among attractiveness factors,suggesting that an increase in worldwide interest in Bitcoin is usually preceded by a price increase.In contrast,an increase in market mistrust over a collapse of the currency,as measured by the term bitcoin crash,is followed by a fall in price.Intense world economic crisis events appear to have a strong impact on interest in the virtual currency.This study demonstrates that during a worldwide crisis Bitcoin becomes an alternative investment,increasing its price.Based on it,bitcoin may be used as a safe haven by the financial market and its intrinsic characteristics might help the investors and governments to find new mechanisms to deal with monetary transactions.
基金Item Sponsored by National Natural Science Foundation of China (71171038,71021061 )Fundamental Research Funds for Central Universities of China (N100504001)
文摘The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming was utilized to minimize the maximum completion time for each cast without considering variable electricity price. At the second stage, based on obtained relative schedules of all casts, a mathematical model was formulated with an objective of minimizing the energy cost for all casts scheduling problem. The two-stage models were tested on randomly generated instances based on the practical process in a Chinese steelmaking plant. Computational results demonstrate the effectiveness of the proposed approach.
