BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity r...BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity recommended by the World Health Organization.Therefore,it is imperative to identify the factors that contributing to lack of physical activity must be identified.AIM To investigate the relationship among delay discounting,delay aversion,glycated hemoglobin(HbA1c),and various levels of physical activity in Chinese adults diagnosed with type 2 diabetes mellitus(T2DM).METHODS In 2023,400 adults with T2DM were recruited from the People's Hospital of Linxia Hui Autonomous Prefecture of Gansu Province.A face-to-face questionnaire was used to gather demographic data and details on physical activity,delay discounting,and delay aversion.In addition,HbA1c levels were measured in all 400 participants.The primary independent variables considered were delay discounting and delay aversion.The outcome variables included HbA1c levels and different intensity levels of physical activity,including walking,moderate physical activity,and vigorous physical activity.Multiple linear regression models were utilized to assess the relationship between delay discounting,delay aversion,and HbA1c levels,along with the intensity of different physical activity measured in met-hours per week.RESULTS After controlling for the sample characteristics,delay discounting was negatively associated with moderate physical activity(β=-2.386,95%CI:-4.370 to-0.401).Meanwhile,delay aversion was negatively associated with the level of moderate physical activity(β=-3.527,95%CI:-5.578 to-1.476)in the multiple linear regression model,with statistically significant differences.CONCLUSION Elevated delay discounting and increased delay aversion correlated with reduced levels of moderate physical activity.Result suggests that delay discounting and aversion may influence engagement in moderate physical activity.This study recommends that health administration and government consider delay discounting and delay aversion when formulating behavioral intervention strategies and treatment guidelines involving physical activity for patients with T2DM,which may increase participation in physical activity.This study contributes a novel perspective to the research on physical activity in adults with T2DM by examining the significance of future health considerations and the role of emotional responses to delays.展开更多
The polynomial spline model, which belongs to the static term structure model of interest rates, is studied. Every cash flow of the project is discounted relatively accurately by obtaining the discount rate from the s...The polynomial spline model, which belongs to the static term structure model of interest rates, is studied. Every cash flow of the project is discounted relatively accurately by obtaining the discount rate from the static term structure model of interest rates. A simple basic model, which belongs to the dynamic term structure model, is studied, and the option pricing formula under changing risk-free rates is obtained by bringing it into the option pricing formula. Both dynamic and static term structure models are estimated by the use of the data of buy-back rates and the Shanghai Stock Exchange, and an example is given to compare the differences between the traditional method and the method under the changes in the interest rates and the discount rates.展开更多
The aim of the presented study was to investigate the relationship between Cloninger's personality dimensions of temperament(Harm Avoidance,Novelty Seeking,Reward Dependence,and Persistence)and rates of delay and ...The aim of the presented study was to investigate the relationship between Cloninger's personality dimensions of temperament(Harm Avoidance,Novelty Seeking,Reward Dependence,and Persistence)and rates of delay and effort discounting among adolescents.Generally speaking,discounting refers to a decrease in the subjective value of a reward as its delay(delay discounting),or an effort required to obtain the reward(effort discounting)increases.198 adolescents participated in the experiment,ranging in age from 13 to 18 years.Data was collected using paper-and-pencil Junior Temperament and Character Inventory and computerized Delay and Effort Discounting Questionnaire.The analysis has indicated that the more one tries to avoid harm,the more steep his effort discounting is.The same is truth for reward dependency.At the same time,a positive correlation between the rate for effort and delay discounting was revealed.Thus,both processes cannot be treated completely separately.展开更多
Valuation is stated as monetary value belonging to firm assets （Verginis ＆ Taylor, 2004）. According to M. L. Rock, R. H. Rock, and Sikora （1994）, valuation is the answer of the following questions： What is the m...Valuation is stated as monetary value belonging to firm assets （Verginis ＆ Taylor, 2004）. According to M. L. Rock, R. H. Rock, and Sikora （1994）, valuation is the answer of the following questions： What is the maximum price that will be paid for the firm？ What are the risk areas？ What are the results of cash flows, profitability, and balance-sheet？ Chambers （2005, p. 5）, on the other hand, estimated a probable price that will be paid for the goods and service at a specific time. For the calculation of continuing value （CV）, Verginis and Taylor （2004） used discounted cash flows （DCF） method and Onal, Karadeniz, and Kandlr （2005） used economic profit method. Klrh （2005） suggested Continuous and Constant Growing Model （Gordon Model）, Value Driver Model, and Economic Profit Model. In this study, DCF which is suggested by Onal et al. （2005） and Verginis and Taylor （2004） is used for the aim of determining CV of the firm at issue. In this study, analyses are made by using the financial statement data of a tourism business whose shares are dealt in Istanbul Stock Exchange. In consequence of the calculations, CV of the examined firm is found to be 7,485,402 TL and firm value is found to be 15,195,366 TL.展开更多
The development and deployment of privary preserving supply chain quantity discount contract design can allow supply chain collaborations to take place without revealing any participant＇s data to others, reaping the ...The development and deployment of privary preserving supply chain quantity discount contract design can allow supply chain collaborations to take place without revealing any participant＇s data to others, reaping the benefits of collaborations wbile avoiding the drawbacks of privacy information disclosure. First, secure multi-party computation protocols are applied in the joint-ordering policy between a single supplier and a single retailer, the joint-ordering policy can be conducted without disclosing private cost information of any of the other supply chain partners. Secondly, secure multi-party computation protocols are applied in the privacy preserving supply chain quantity discount contract design between a single supplier and a single retailer. The information disclosure analyses of the algorithm show that： the optimal quantity discount of the jointordering policy can be conducted without disclosing private cost information of any of the other supply chain partners; the above protocol can be implemented without mediators; the privacy preserving quantity discount algorithm can be mutually verifiable and has solved the problem of asymmetric information.展开更多
The purpose of this paper is to consider the expected value of a discounted penalty due at ruin in the Erlang（2） risk process under constant interest force. An integro-differential equation satisfied by the expected...The purpose of this paper is to consider the expected value of a discounted penalty due at ruin in the Erlang（2） risk process under constant interest force. An integro-differential equation satisfied by the expected value and a second-order differential equation for the Laplace transform of the expected value are derived. In addition, the paper will present the recursive algorithm for the joint distribution of the surplus immediately before ruin and the deficit at ruin. Finally, by the differential equation, the defective renewal equation and the explicit expression for the expected value are given in the interest-free case.展开更多
In this present paper, a deterministic lot size model is developed for deteriorating items with incremental quantity discounts. It is assumed that shortages are permitted to occur and fully backlogged. A simple solut...In this present paper, a deterministic lot size model is developed for deteriorating items with incremental quantity discounts. It is assumed that shortages are permitted to occur and fully backlogged. A simple solution procedure is shown for determining the optimal order lot size and the optimal order cycle. A numerical example is used to illustrate how the solution procedure works.展开更多
Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic di...Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic discounting, a q-exponential discounting model based on Tsallis’ statistics. In order to experimentally examine the mathematical characteristics of the q-exponential social discounting models for gain and loss in humans, we estimated the parameters of the q-exponential social discounting models by assessing the points of subjective equality (indifference points) at seven social distances. We observed that gain was more steeply social-discounted than loss. Usefulness of the q-exponential social discounting model in social physics, econophysics, and cultural neuroeconomics are discussed.展开更多
This paper is a sequel to Kageyama et al. [1], in which a Markov-type hybrid process has been constructed and the corresponding discounted total reward has been characterized by the recursive equation. The objective o...This paper is a sequel to Kageyama et al. [1], in which a Markov-type hybrid process has been constructed and the corresponding discounted total reward has been characterized by the recursive equation. The objective of this paper is to formulate a hybrid decision process and to give the existence and characterization of optimal policies.展开更多
In this article, the risk process perturbed by diffusion under interest force is considered, the continuity and twice continuous differentiability for Фδ（u,w） are discussed,the Feller expression and the integro-di...In this article, the risk process perturbed by diffusion under interest force is considered, the continuity and twice continuous differentiability for Фδ（u,w） are discussed,the Feller expression and the integro-differential equation satisfied by Фδ （u ,w） are derived. Finally, the decomposition of Фδ（u,w） is discussed, and some properties of each decomposed part of Фδ（u,w） are obtained. The results can be reduced to some ones in Gerber and Landry＇s,Tsai and Willmot＇s, and Wang＇s works by letting parameter δ and （or） a be zero.展开更多
Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been propose...Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been proposed in econophysics (Takahashi, 2007, Physica A). We examined (a) fitness of the models to behavioral data of probability discounting of both gain and loss;and (b) relationships between parameters in the q-exponential probability discounting model across gain and loss. Our results demonstrated that, for both gain and loss, the q-exponential model better fits the behavioral data than exponential and hyperbolic functions, and there is the sign effect in q-exponential probability discounting. Relationships between Kahneman-Tversky’s prospect theory in behavioral economics and the q-exponential probability discounting are high-lightened.展开更多
In the world, most of the successes are results of longterm efforts. The reward of success is extremely high, but before that, a long-term investment process is required. People who are “myopic” only value short-ter...In the world, most of the successes are results of longterm efforts. The reward of success is extremely high, but before that, a long-term investment process is required. People who are “myopic” only value short-term rewards and are unwilling to make early-stage investments, so they hardly get the ultimate success and the corresponding high rewards. Similarly, for a reinforcement learning(RL) model with long-delay rewards, the discount rate determines the strength of agent’s “farsightedness”.In order to enable the trained agent to make a chain of correct choices and succeed finally, the feasible region of the discount rate is obtained through mathematical derivation in this paper firstly. It satisfies the “farsightedness” requirement of agent. Afterwards, in order to avoid the complicated problem of solving implicit equations in the process of choosing feasible solutions,a simple method is explored and verified by theoreti cal demonstration and mathematical experiments. Then, a series of RL experiments are designed and implemented to verify the validity of theory. Finally, the model is extended from the finite process to the infinite process. The validity of the extended model is verified by theories and experiments. The whole research not only reveals the significance of the discount rate, but also provides a theoretical basis as well as a practical method for the choice of discount rate in future researches.展开更多
To enhance dynamic tracking performance and anti-disturbance capacity of finite impulse response(FIR) filters, variable discount factors are introduced to the recursive least squares(RLS) algorithm. By employing impro...To enhance dynamic tracking performance and anti-disturbance capacity of finite impulse response(FIR) filters, variable discount factors are introduced to the recursive least squares(RLS) algorithm. By employing improved FIR filters to conduct modelling of industrial robot drive systems, dynamic characteristics of the target systems are identified. Then the fault detection for a target system can be utilized by analyzing the coefficients of the FIR filter. Finally, an application of the fault detection scheme to a kind of brushless DC motor drive system is described. Compared with reference methods, the proposed scheme achieves effective fault detection and performs better in dynamic tracking and robustness according to the final simulation results.展开更多
In this paper, we consider the dual risk model in which periodic taxation are paid according to a loss-carry-forward system and dividends are paid under a threshold strategy. We give an analytical approach to derive t...In this paper, we consider the dual risk model in which periodic taxation are paid according to a loss-carry-forward system and dividends are paid under a threshold strategy. We give an analytical approach to derive the expression of gδ(u) (i.e. the Laplace transform of the first upper exit time). We discuss the expected discounted tax payments for this model and obtain its corresponding integro-differential equations. Finally, for Erlang (2) inter-innovation distribution, closedform expressions for the expected discounted tax payments are given.展开更多
This article explores controllable Borel spaces, stationary, homogeneous Markov processes, discrete time with infinite horizon, with bounded cost functions and using the expected total discounted cost criterion. The p...This article explores controllable Borel spaces, stationary, homogeneous Markov processes, discrete time with infinite horizon, with bounded cost functions and using the expected total discounted cost criterion. The problem of the estimation of stability for this type of process is set. The central objective is to obtain a bounded stability index expressed in terms of the Lévy-Prokhorov metric;likewise, sufficient conditions are provided for the existence of such inequalities.展开更多
This paper has organized and summarized the economic analysis on climate change from five angles,namely,connotation of discount rate,identification of and dispute about discount rate,discounting way,impact of the disc...This paper has organized and summarized the economic analysis on climate change from five angles,namely,connotation of discount rate,identification of and dispute about discount rate,discounting way,impact of the discount rate,and the integrated evaluation model of climate change impact and the discount evaluation.As the climate change economic analysis shows,there is a major dispute about discount rate between the market school and the ethic school.Rate of discount largely relates to the present value of potential loss attributable to climate change,and then influences the selection of policies for adapting and slowing down climate change.In the past,the constant index discount was adopted as the main way.But with the full understanding of discount rate,the uncertainty of loss attributable to climate change has been considered in the discount.展开更多
When we try to estimate future environmental costs resulting from our current economic activities,we usually calculate the present value of the consequences for our future generations by utilizing a discount rate as a...When we try to estimate future environmental costs resulting from our current economic activities,we usually calculate the present value of the consequences for our future generations by utilizing a discount rate as a standard economic procedure.The popularity of this procedure is solely supported by its simplicity which assumes:(1)a perfect financial market over even 100 years,and(2)existence of a stable time preference between two consecutive periods for an individual consumer.An apparent deficiency of this approach is that the present value of life quality of future generations varies to a large extent along an arbitrarily chosen discount rate.As a matter of fact,the discount rate,which could reflect the time preference as2%or 5%,matters when we predict current strategies of environmental protection for future generations.Simply applying a discount rate to evaluate the quality of our future generation,without clarifying the actual production mechanism behind this,is almost to the same as ignoring the fact that all of the goods are produced through an actual production process and that environmental degradation reduces the efficiency of that process.The greatest concern for our future generations should not be given by an assumed discount rate,since the discount rate itself is determined by financial market conditions at certain points in time.展开更多
Solving the dispute over historical greenhouse gases emission responsibility is critical for the future climate agreement.This article borrows the methodology from the carbon budget proposal,but further develops this ...Solving the dispute over historical greenhouse gases emission responsibility is critical for the future climate agreement.This article borrows the methodology from the carbon budget proposal,but further develops this approach by proposing discount of the historical responsibility due to the technology advance.Firstly,it studies the Annex I countries'mitigation and financial responsibilities of the historical emission in the carbon budget proposal;furthermore,it analyzes the results and implications of the discount approach.Results show that the discount method significantly reduces the burden of the mitigation and financial responsibilities of the Annex I countries.Thus,we claim that the discount approach is a systematic,pragmatic,and fair approach to solve the historical responsibility dispute and financial problems for the post-2020international climate institutions.展开更多
The quantity discount contracts are investigated for a one-supplier-one-retailer supply chain with asymmetric information when the retailer's cost is disrupted. While the retailer's cost structure is asymmetri...The quantity discount contracts are investigated for a one-supplier-one-retailer supply chain with asymmetric information when the retailer's cost is disrupted. While the retailer's cost structure is asymmetric information, two all-unit quantity discount contract models, fixed expected-profit percentage discount(FEPD) and fixed wholesale-pricing percentage discount(FWPD) under asymmetric information are proposed in a regular scenario. When the retailer's cost distribution fluctuates due to disruptions, the optimal emergency strategies of supply chains are obtained under asymmetric information. Using numerical methods, the impact of cost disruptions on decisions about the regular wholesale price, discount wholesale price, order quantity and expected profits of the retailer, the supplier as well as the total system are analyzed. It is found that the FEPD policy is more robust and adaptable than the FWPD policy in disruption circumstances.展开更多
Agriculture plays a vital role in the growth and development of the High Plains Region of the United States. With the development and adoption of irrigation technology, this region was transformed into one of the most...Agriculture plays a vital role in the growth and development of the High Plains Region of the United States. With the development and adoption of irrigation technology, this region was transformed into one of the most agriculturally productive regions in the world [1]. The primary source of irrigation in this region is the Ogallala Aquifer. Currently, water from the aquifer is being used at a much faster rate than natural recharge can occur, resulting in a high rate of depletion from this finite resource. Depletion of scarce water resources will have a significant economic impact on the long-term sustainability of the region. The objective of this study is to evaluate the impact alternative prices and discount rates have on groundwater policy recommendations. Deterministic models of groundwater withdrawals were developed and used in order to analyze and evaluate the impact of high, average, and low crop prices in a status quo scenario as well as a policy scenario reducing irrigated acreage allocation. Furthermore, this study analyzes the effects and associated consequences of alternative discount rates on net and total revenue. As indicated by results of this study, alternative prices, costs, and discount rates utilized in a model have an effect on policy effectiveness.展开更多
基金Supported by the Natural Science Foundation of Gansu Province,No.22JR5RN1054.
文摘BACKGROUND The role of physical activity in diabetes is critical,influencing this disease's development,man-agement,and overall outcomes.In China,22.3%of adults do not meet the minimum level of physical activity recommended by the World Health Organization.Therefore,it is imperative to identify the factors that contributing to lack of physical activity must be identified.AIM To investigate the relationship among delay discounting,delay aversion,glycated hemoglobin(HbA1c),and various levels of physical activity in Chinese adults diagnosed with type 2 diabetes mellitus(T2DM).METHODS In 2023,400 adults with T2DM were recruited from the People's Hospital of Linxia Hui Autonomous Prefecture of Gansu Province.A face-to-face questionnaire was used to gather demographic data and details on physical activity,delay discounting,and delay aversion.In addition,HbA1c levels were measured in all 400 participants.The primary independent variables considered were delay discounting and delay aversion.The outcome variables included HbA1c levels and different intensity levels of physical activity,including walking,moderate physical activity,and vigorous physical activity.Multiple linear regression models were utilized to assess the relationship between delay discounting,delay aversion,and HbA1c levels,along with the intensity of different physical activity measured in met-hours per week.RESULTS After controlling for the sample characteristics,delay discounting was negatively associated with moderate physical activity(β=-2.386,95%CI:-4.370 to-0.401).Meanwhile,delay aversion was negatively associated with the level of moderate physical activity(β=-3.527,95%CI:-5.578 to-1.476)in the multiple linear regression model,with statistically significant differences.CONCLUSION Elevated delay discounting and increased delay aversion correlated with reduced levels of moderate physical activity.Result suggests that delay discounting and aversion may influence engagement in moderate physical activity.This study recommends that health administration and government consider delay discounting and delay aversion when formulating behavioral intervention strategies and treatment guidelines involving physical activity for patients with T2DM,which may increase participation in physical activity.This study contributes a novel perspective to the research on physical activity in adults with T2DM by examining the significance of future health considerations and the role of emotional responses to delays.
基金The Achievements of Young Fund Project of Humanitiesand Social Science of Ministry of Education(No.07JC790028)the NationalNatural Science Foundation of China (No.70671025).
文摘The polynomial spline model, which belongs to the static term structure model of interest rates, is studied. Every cash flow of the project is discounted relatively accurately by obtaining the discount rate from the static term structure model of interest rates. A simple basic model, which belongs to the dynamic term structure model, is studied, and the option pricing formula under changing risk-free rates is obtained by bringing it into the option pricing formula. Both dynamic and static term structure models are estimated by the use of the data of buy-back rates and the Shanghai Stock Exchange, and an example is given to compare the differences between the traditional method and the method under the changes in the interest rates and the discount rates.
文摘The aim of the presented study was to investigate the relationship between Cloninger's personality dimensions of temperament(Harm Avoidance,Novelty Seeking,Reward Dependence,and Persistence)and rates of delay and effort discounting among adolescents.Generally speaking,discounting refers to a decrease in the subjective value of a reward as its delay(delay discounting),or an effort required to obtain the reward(effort discounting)increases.198 adolescents participated in the experiment,ranging in age from 13 to 18 years.Data was collected using paper-and-pencil Junior Temperament and Character Inventory and computerized Delay and Effort Discounting Questionnaire.The analysis has indicated that the more one tries to avoid harm,the more steep his effort discounting is.The same is truth for reward dependency.At the same time,a positive correlation between the rate for effort and delay discounting was revealed.Thus,both processes cannot be treated completely separately.
文摘Valuation is stated as monetary value belonging to firm assets （Verginis ＆ Taylor, 2004）. According to M. L. Rock, R. H. Rock, and Sikora （1994）, valuation is the answer of the following questions： What is the maximum price that will be paid for the firm？ What are the risk areas？ What are the results of cash flows, profitability, and balance-sheet？ Chambers （2005, p. 5）, on the other hand, estimated a probable price that will be paid for the goods and service at a specific time. For the calculation of continuing value （CV）, Verginis and Taylor （2004） used discounted cash flows （DCF） method and Onal, Karadeniz, and Kandlr （2005） used economic profit method. Klrh （2005） suggested Continuous and Constant Growing Model （Gordon Model）, Value Driver Model, and Economic Profit Model. In this study, DCF which is suggested by Onal et al. （2005） and Verginis and Taylor （2004） is used for the aim of determining CV of the firm at issue. In this study, analyses are made by using the financial statement data of a tourism business whose shares are dealt in Istanbul Stock Exchange. In consequence of the calculations, CV of the examined firm is found to be 7,485,402 TL and firm value is found to be 15,195,366 TL.
基金The National Natural Science Foundation of China(No.70771026)
文摘The development and deployment of privary preserving supply chain quantity discount contract design can allow supply chain collaborations to take place without revealing any participant＇s data to others, reaping the benefits of collaborations wbile avoiding the drawbacks of privacy information disclosure. First, secure multi-party computation protocols are applied in the joint-ordering policy between a single supplier and a single retailer, the joint-ordering policy can be conducted without disclosing private cost information of any of the other supply chain partners. Secondly, secure multi-party computation protocols are applied in the privacy preserving supply chain quantity discount contract design between a single supplier and a single retailer. The information disclosure analyses of the algorithm show that： the optimal quantity discount of the jointordering policy can be conducted without disclosing private cost information of any of the other supply chain partners; the above protocol can be implemented without mediators; the privacy preserving quantity discount algorithm can be mutually verifiable and has solved the problem of asymmetric information.
基金supported by the National Natural science Foundation of china(70271069)
文摘The purpose of this paper is to consider the expected value of a discounted penalty due at ruin in the Erlang（2） risk process under constant interest force. An integro-differential equation satisfied by the expected value and a second-order differential equation for the Laplace transform of the expected value are derived. In addition, the paper will present the recursive algorithm for the joint distribution of the surplus immediately before ruin and the deficit at ruin. Finally, by the differential equation, the defective renewal equation and the explicit expression for the expected value are given in the interest-free case.
文摘In this present paper, a deterministic lot size model is developed for deteriorating items with incremental quantity discounts. It is assumed that shortages are permitted to occur and fully backlogged. A simple solution procedure is shown for determining the optimal order lot size and the optimal order cycle. A numerical example is used to illustrate how the solution procedure works.
文摘Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic discounting, a q-exponential discounting model based on Tsallis’ statistics. In order to experimentally examine the mathematical characteristics of the q-exponential social discounting models for gain and loss in humans, we estimated the parameters of the q-exponential social discounting models by assessing the points of subjective equality (indifference points) at seven social distances. We observed that gain was more steeply social-discounted than loss. Usefulness of the q-exponential social discounting model in social physics, econophysics, and cultural neuroeconomics are discussed.
文摘This paper is a sequel to Kageyama et al. [1], in which a Markov-type hybrid process has been constructed and the corresponding discounted total reward has been characterized by the recursive equation. The objective of this paper is to formulate a hybrid decision process and to give the existence and characterization of optimal policies.
文摘In this article, the risk process perturbed by diffusion under interest force is considered, the continuity and twice continuous differentiability for Фδ（u,w） are discussed,the Feller expression and the integro-differential equation satisfied by Фδ （u ,w） are derived. Finally, the decomposition of Фδ（u,w） is discussed, and some properties of each decomposed part of Фδ（u,w） are obtained. The results can be reduced to some ones in Gerber and Landry＇s,Tsai and Willmot＇s, and Wang＇s works by letting parameter δ and （or） a be zero.
文摘Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been proposed in econophysics (Takahashi, 2007, Physica A). We examined (a) fitness of the models to behavioral data of probability discounting of both gain and loss;and (b) relationships between parameters in the q-exponential probability discounting model across gain and loss. Our results demonstrated that, for both gain and loss, the q-exponential model better fits the behavioral data than exponential and hyperbolic functions, and there is the sign effect in q-exponential probability discounting. Relationships between Kahneman-Tversky’s prospect theory in behavioral economics and the q-exponential probability discounting are high-lightened.
基金supported by the National Natural Science Foundation of China (717712167170120972001214)。
文摘In the world, most of the successes are results of longterm efforts. The reward of success is extremely high, but before that, a long-term investment process is required. People who are “myopic” only value short-term rewards and are unwilling to make early-stage investments, so they hardly get the ultimate success and the corresponding high rewards. Similarly, for a reinforcement learning(RL) model with long-delay rewards, the discount rate determines the strength of agent’s “farsightedness”.In order to enable the trained agent to make a chain of correct choices and succeed finally, the feasible region of the discount rate is obtained through mathematical derivation in this paper firstly. It satisfies the “farsightedness” requirement of agent. Afterwards, in order to avoid the complicated problem of solving implicit equations in the process of choosing feasible solutions,a simple method is explored and verified by theoreti cal demonstration and mathematical experiments. Then, a series of RL experiments are designed and implemented to verify the validity of theory. Finally, the model is extended from the finite process to the infinite process. The validity of the extended model is verified by theories and experiments. The whole research not only reveals the significance of the discount rate, but also provides a theoretical basis as well as a practical method for the choice of discount rate in future researches.
基金Supported by the Provincial Training Program of Innovation and Entrepreneurship for Undergraduates (202013571002Z)。
文摘To enhance dynamic tracking performance and anti-disturbance capacity of finite impulse response(FIR) filters, variable discount factors are introduced to the recursive least squares(RLS) algorithm. By employing improved FIR filters to conduct modelling of industrial robot drive systems, dynamic characteristics of the target systems are identified. Then the fault detection for a target system can be utilized by analyzing the coefficients of the FIR filter. Finally, an application of the fault detection scheme to a kind of brushless DC motor drive system is described. Compared with reference methods, the proposed scheme achieves effective fault detection and performs better in dynamic tracking and robustness according to the final simulation results.
文摘In this paper, we consider the dual risk model in which periodic taxation are paid according to a loss-carry-forward system and dividends are paid under a threshold strategy. We give an analytical approach to derive the expression of gδ(u) (i.e. the Laplace transform of the first upper exit time). We discuss the expected discounted tax payments for this model and obtain its corresponding integro-differential equations. Finally, for Erlang (2) inter-innovation distribution, closedform expressions for the expected discounted tax payments are given.
文摘This article explores controllable Borel spaces, stationary, homogeneous Markov processes, discrete time with infinite horizon, with bounded cost functions and using the expected total discounted cost criterion. The problem of the estimation of stability for this type of process is set. The central objective is to obtain a bounded stability index expressed in terms of the Lévy-Prokhorov metric;likewise, sufficient conditions are provided for the existence of such inequalities.
基金supported by NSFC National Outstanding Youth Science Foundation of China (Grant No.71103111)MOST Special Project of Innovative Methodology (Grant No.2012IM010300)Twelfth Five-Year National Science and Technology Support Program (Grant No.2012BAC20B01)
文摘This paper has organized and summarized the economic analysis on climate change from five angles,namely,connotation of discount rate,identification of and dispute about discount rate,discounting way,impact of the discount rate,and the integrated evaluation model of climate change impact and the discount evaluation.As the climate change economic analysis shows,there is a major dispute about discount rate between the market school and the ethic school.Rate of discount largely relates to the present value of potential loss attributable to climate change,and then influences the selection of policies for adapting and slowing down climate change.In the past,the constant index discount was adopted as the main way.But with the full understanding of discount rate,the uncertainty of loss attributable to climate change has been considered in the discount.
基金supported by Grant-in-Aid for Asian CORE Program "Manufacturing and Environmental Management in East Asia" of Japan Society for the Promotion of Science(JSPS)
文摘When we try to estimate future environmental costs resulting from our current economic activities,we usually calculate the present value of the consequences for our future generations by utilizing a discount rate as a standard economic procedure.The popularity of this procedure is solely supported by its simplicity which assumes:(1)a perfect financial market over even 100 years,and(2)existence of a stable time preference between two consecutive periods for an individual consumer.An apparent deficiency of this approach is that the present value of life quality of future generations varies to a large extent along an arbitrarily chosen discount rate.As a matter of fact,the discount rate,which could reflect the time preference as2%or 5%,matters when we predict current strategies of environmental protection for future generations.Simply applying a discount rate to evaluate the quality of our future generation,without clarifying the actual production mechanism behind this,is almost to the same as ignoring the fact that all of the goods are produced through an actual production process and that environmental degradation reduces the efficiency of that process.The greatest concern for our future generations should not be given by an assumed discount rate,since the discount rate itself is determined by financial market conditions at certain points in time.
基金supported by the 12th Five Year National Key Technologies R&D Program of China[2012BAC20B05]
文摘Solving the dispute over historical greenhouse gases emission responsibility is critical for the future climate agreement.This article borrows the methodology from the carbon budget proposal,but further develops this approach by proposing discount of the historical responsibility due to the technology advance.Firstly,it studies the Annex I countries'mitigation and financial responsibilities of the historical emission in the carbon budget proposal;furthermore,it analyzes the results and implications of the discount approach.Results show that the discount method significantly reduces the burden of the mitigation and financial responsibilities of the Annex I countries.Thus,we claim that the discount approach is a systematic,pragmatic,and fair approach to solve the historical responsibility dispute and financial problems for the post-2020international climate institutions.
基金The National Natural Science Foundation of China (No.70671021)Jiangsu Postdoctoral Foundation (No.0601015C)
文摘The quantity discount contracts are investigated for a one-supplier-one-retailer supply chain with asymmetric information when the retailer's cost is disrupted. While the retailer's cost structure is asymmetric information, two all-unit quantity discount contract models, fixed expected-profit percentage discount(FEPD) and fixed wholesale-pricing percentage discount(FWPD) under asymmetric information are proposed in a regular scenario. When the retailer's cost distribution fluctuates due to disruptions, the optimal emergency strategies of supply chains are obtained under asymmetric information. Using numerical methods, the impact of cost disruptions on decisions about the regular wholesale price, discount wholesale price, order quantity and expected profits of the retailer, the supplier as well as the total system are analyzed. It is found that the FEPD policy is more robust and adaptable than the FWPD policy in disruption circumstances.
文摘Agriculture plays a vital role in the growth and development of the High Plains Region of the United States. With the development and adoption of irrigation technology, this region was transformed into one of the most agriculturally productive regions in the world [1]. The primary source of irrigation in this region is the Ogallala Aquifer. Currently, water from the aquifer is being used at a much faster rate than natural recharge can occur, resulting in a high rate of depletion from this finite resource. Depletion of scarce water resources will have a significant economic impact on the long-term sustainability of the region. The objective of this study is to evaluate the impact alternative prices and discount rates have on groundwater policy recommendations. Deterministic models of groundwater withdrawals were developed and used in order to analyze and evaluate the impact of high, average, and low crop prices in a status quo scenario as well as a policy scenario reducing irrigated acreage allocation. Furthermore, this study analyzes the effects and associated consequences of alternative discount rates on net and total revenue. As indicated by results of this study, alternative prices, costs, and discount rates utilized in a model have an effect on policy effectiveness.
