It is common in the Chinese securities market for the individual investors to herd on the institutional investors. This article builds a model of leader-follower for this special phenomenon. Through certain assumptions and calculations, the model finds that the herding behavior increases the volatility of the market price, and that the leaders gain more profit than the followers in most circumstances. But as the amount of the leader increases and the noise in the signal that the leaders receive increases, ...

By Granger's concept of long memory on series this paper analyzes the long memory properties of stock market absolute returns and volatilities in China. The results show that the stock market returns and volatilities in China have long memory and persistence although they are not as strong as that of American stock market; The memory of Shanghai stock is stronger than that of Shenzhen stock; The autocorrelation function of a fractional integration model can fit the sample autocorrelation much well.

Open-end funds require that the fund managers have the obligation of redemption, which makes it important for fund portfolios to have liquidity. Based upon the investigation of current methods of measuring liquidity, this paper proposes a new way of measuring stock liquidity from the point of view of market microstructure. The method provides a valuable reference for fund managers to select portfolios.

In this paper, we extended this on-line strategy to the case with transaction costs, and got some interesting results, and presented an elementary theoretical framework for applying in practice.

Focusing on the horizontal merger and vertical integration, this paper reviews the theoretic models of the motive and social welfare of enterprise mergers, and presents some proposal about the future direction of the research.

Reliability optimization for computer networks, subjects to cost constraints, is a NP\|hard combinational problem. Regarding a known network topology, the problem of choosing links and switchers among alternatives different in reliability and cost is settled by a Coarse-grained parallel genetic algorithm, which maximize the network availablity within a fixed budget. The simulations on a dedicated cluster demonstrate that contracting to the sequential counterpart, our parallel GA improves the quality of pla...

One model of DEA(data envelopment analysis) sensitivity analysis is presented in this paper. Using this model, we developed the sufficient and necessary conditions to keep the classification of being efficient or inefficient when only one DMU changes. Nevertheless, the sufficient condition of keeping classification in the worst case is proposed. In the last section, an empiric example on measuring competitiveness performance of innovative firms is offered to verify the result. Thus, the proposed method is p...

The usual Social Choice Functions deal with problems of group decision- making, commonly they do not concern with the multi-criteria decision-making problems. In this paper the Cook-Seiford Social Choice Function is extended in two ways so that the group decision- making problem with multiple criteria can be processed by this function. Then, by using the function, a choice is made to the key technologies of the IT industry of Guangdong province, China, in the years 2005 - 2010.

This paper aims to provide a concise survey of scheduling theories concerning job shop scheduling problem by dealing with classification of related algorithms, characteristic and general framework of JSSP. The research methods are divided into two classes: the optimization and the heuristics. The methods under each approach are analyzed and compared with the others. At last, problems, which need further investigating and possible research directions, are pointed out.

Based on the study of construction network project, the authors pose a new estimate criterion: construction quality and set up the network's mathematics model. Simultaneously, the authors establish the network's multi-goal model by synthesizing the existing optimum models. Because the goals contradict each other, the authors can optimize network project scientifically and objectively by using the multi-goal decision theory.

The discretization of continuous attributes is an important method for compressing data and simplifying analysis, which is of the focuses in the domains of pattern recognition, machine learning and rough sets. Some discretization algorithms have been used such as MD, discretization based on entropy but there exist disadvantages in them. For example, the choice of initial set of cut dots is hard to be determined. The optimal discretization has been proved to be NP-hard. Heuristics used by most algorithms us...

The Time\|data\|separation approach is put forward to solve the prediction problem of unequal interval sequence in Grey theory on the basis of the concept of the class sequence, which keeps the time sequence separate from the data sequence, and then combines the time sequence and the data sequence with the class sequence for constituting model , finally synchronously makes prediction. Using this method, the trend of the seepage flow is analyzed in No.1 tailings dam of Dexing Copper Mine. The result shows...

For a prodiction model with chaotic algorithm, the network system can escape from the local minima and converge to the global minimum or its approximate solution during the learning and prediction process by selecting the suitable nonlinnear feedback term. The dynamics of network become chaotic one in the weight space. In this work, we use the EP evolutionary computation to establish a kind of self-suitable prediction model. The model is tested for the time series which generated with Mackey-Glass equatio...

Several models of biological systems are presented. Our purpose is to examine their evolutionary behaviors. In the first model, the species which has the lowest fitness will continuously mutate until its fitness becomes larger, the time takes to mutate is recorded and we call it life of system. Continue this process, we'll get a series of lives and a series of lowest fitness. It is found that the series of expectation of lowest fitness is convergent and furthermore the series of lowest fitness is almost su...

During the performance evaluation of radar system, the threshold multiplier should be determined firstly for a given system probability of false alarm. For this purpose, we must know the clutter probability distribution of various CFAR scheme. In most departures from the Cell Averaging constant false alarm rate (CA-CFAR) structure, serious difficulties arise in performance analysis for various clutter distribution. Importance sampling (IS) method is a weighted Monte Carlo method for rare event simulation. ...

The Prosperity Index method,including the diffusion index (DI) and the composite index \$\{(CI)\}\$,is a common approach to analysis the early warning. Practically, there exist some problems such as the disaccord of the warning degree between the DI and CI, leading to the error of the warning condition appraisal. In this article, based on the suitable improvement to the calculation method of the DI, the concept of "comparison of the precision " in the Early Warning System of Real Estate has been int...

In a static environment, the decision making of production plan mainly comes from demand prediction of the market. Nevertheless, if in a dynamic environment, as prediction information itself is constantly changing and prediction value is continuously varying, how can we transform dynamic forecasting information(prediction modifying amount) into production plan? To research the dynamic change of demand information into production plan and timely renewal of demand information has great value in theory and pra...

In this paper, we study portfolio selection in crisp and fuzzy cases, respectively, and we propose corresponding model and algorithm in both cases. In two models, the risk is taken as the sum of the absolute deviation of the risky assets instead of covariance, the transaction cost is taken as V-shaped function of the difference between the existing and new portfolio. An efficient way is given to transform an optimal problem with non-linear objective function or non-linear constraint into a linear problem...

The paper proposes the formal norm of Web-ased open decision support system, definitely demonstrates the entities and their relationship in the system. Then a new type of concept model for Web-ased open decision support system is introduced,and the transaction processing procedure is analyzed in detail. Finally, a prototype system for education planning is illustrated to show the rationality and practicality of this model.

In this paper, traffic signal control in isolated intersection was discussed, and the method of real-ime fuzzy control was applied. The controller was designed to be a three-imensional fuzzy controller which use current phase main queue, coming vehicles in the latest 10 seconds, next phase main queue to determine each phase time. According to the process of vehicle coming and going at intersection, the calculation model of average vehicle delay was proposed. A simulation experiment was performed to mea...

The problem of fuzzy multiple criteria decision making (FMCDM) with time series is proposed, and based on fuzzy relational degree analysis, a new decision making method is presented in this paper. The theory of fuzzy set is used to construct weighted suitability decision matrix for every period. The positive and negative ideal solution of each period are then obtained by using a method of ranking of fuzzy numbers. The fuzzy weighted values of the relative fuzzy relational degrees of every alternatives vers...

The connotation and the significance of ecosystem services were studied, the evaluation methods for ecosystem services were comparatively analyzed, and the ecosystem services values were evaluated on Australia, Brazil, Britain, Canada, China, France, Germany, India, Italy, Japan, Russia, South Africa, United States.

This paper sets up the dynamic models about population and carrying capacity of nature on base of dynamics theory. Further more, it presents three typical conceptual models about the man-earth relationship: conflicting model, predacious model and harmonious model. On base of these models, it concludes on the conditions which human co-exist with natural environment forever and ever grow.

Recently, the problem of shorting of groundwater resources is rather serious in San Jiang Plain. More and more funnel and "hanging pump" appears. The groundwater level descends continually. So, the paper takes Jiang San Jiang Department Chuang Ye Farm as the example, through applying the method of random analyze to building up the non\|stable time series random model. Through using this model, the paper simulates the dynamic varies and forecast the varied trend in the future. The authors want to provide som...

Quantitative precipitation forecasting is an importat basis for optimal control managements and flood protection of all govements. After having analyzed the GMS satellite remote-sensing preciptation and ANN, this study provides input-output simulation and estimating of preciptation based on the three-layer feed-forward ANN model according to the GMS satellite data.The results of the application show that it is effective.

In retrospect to the full achievements of the theory, methodology and application of Supply Chain Management, this paper probes extensively and comprehensively into the prevalent aspects and resolution in this area. Finally, we discuss some likel

We examine time series features of stock returns and volatility, as well as the relation between returns and volatility in China's stock markets. Firstly, GARCH and EG ARCH models are employed to generate conditional variance series. The applicat

This paper models trading and price behavior in the equilibrium of a strategic trading game when some investors only receive partly information than informed trader. The model shows that the informed trader not only speculates but also manipulate

This article analyzes the performance of Chinese mutual funds. We examine Jensen's alpha and Fama & French three-factor model for 33 mutual funds from 1999 to 2000. The result shows that the FF model is preferable to the Jensen model in the Chine

The relationship between turnover and circulating ratio of stocks is not significant, but turnover is closely related to the ratio of tradable shares by the empirical analysis. Turnover is not a good indicator for the ratio of the share discounti

In order to measure economic structural change, and identify the sources of sectoral growth, a modified rowscaler model is constructed, which decomposes the structural change into average changes in technique and final demand coefficients on the

Using the theory of real option, we set up a model of decision for irreversible and cyclic investment. After analysis, the model will tell us invest or not, and when is the best time to investment. At the end of this paper, the writer uses the pr

Since online-parment can be regarded as the exchange process of e-money assets portfolis such as e-cash, e-cheque and digital credit card, the essence of measuring the risks of online-payment is to build up a reasonable asset allocating model whi

In the opinion of this paper, the innovation firms should understand and identify precisely the relational characteristics of innovation products except for five characteristics of innovation products , which are apperceived by consumer. Accordin

By means of economic growth theory and econometrics knowledge, a dynamical model that can describe evolutionary rule of real estate investment system is firstly constructed. Then, based on nonlinear theory and taking computer simulation as tool,

This paper discusses the theory, method and its application ahout a new kind of spatial data mining technology which based on the Extentics, a case study is carried on the regionaltzation of debris flow danger degree in Beijing area.

Multi-agent system has been known to provide distributed and collaborative problem solving environment. Each diagnostic agent can diagnose with itself knowledge base to improve the properties of reliability and real time of diagnostic system. Mea

For a class of unknown nonlinear systems,this paper presents a fuzzy adaptive robust control scheme, we first prove that the closed-loop system must be stable under a certain condition,then we prove the condition that the state x of the system fa

This paper studies the decision making problem with finite alternatives, in which the decision information takes the form of triangular fuzzy number complementary judgement matrix. A fuzzy ordered weighted averaging (FOWA) operator is presented a

Based on two reasonable assumptions, a new method was proposed for multiple attribute decision making with given preference information on-alternatives. We give a simple algorithm to the method and prove it is equivalent to the method of additive