In this paper, a multi-item inventory model with storage space, number of orders and production cost as constraints are developed in both crisp and fuzzy environment. In most of the real world situations the cost para...In this paper, a multi-item inventory model with storage space, number of orders and production cost as constraints are developed in both crisp and fuzzy environment. In most of the real world situations the cost parameters, the objective functions and constraints of the decision makers are imprecise in nature. This model is solved with shortages and the unit cost dependent demand is assumed. Hence the cost parameters are imposed here in fuzzy environment. This model has been solved by Kuhn-Tucker conditions method. The results for the model without shortages are obtained as a particular case. The model is illustrated with numerical example.展开更多
According to the principle of minimizing total cost, the three-echelon optimized medical inventory model with stochastic lead-time and two-echelon optimized medicine inventory model with fixed lead-time are establishe...According to the principle of minimizing total cost, the three-echelon optimized medical inventory model with stochastic lead-time and two-echelon optimized medicine inventory model with fixed lead-time are established. The relationship between lead-time and inventory cost is studied by Matlab software. It shows that the variety of lead-time has an important effect on medicine inventory systems. Numerical simulation and sensitivity analysis of two models are presented by Lingo software. Based on analysis, it is concluded that the two-echelon model with lead-time results in inventory cost savings, and keeps the quality of care as reflected in service levels when compared with the three-echelon network structure.展开更多
The source apportionment of PM2.5 is essential for pollution prevention.In view of the weaknesses of individual models,we proposed an integrated chemical mass balancesource emission inventory(CMB-SEI)model to acquire ...The source apportionment of PM2.5 is essential for pollution prevention.In view of the weaknesses of individual models,we proposed an integrated chemical mass balancesource emission inventory(CMB-SEI)model to acquire more accurate results.First,the SEI of secondary component precursors(SO2,NOx,NH3,and VOCs)was compiled to acquire the emission ratios of these sources for the precursors.Then,a regular CMB simulation was executed to obtain the contributions of primary particle sources and secondary components(SO4^2-,NO3^-3,NH4^+,and SOC).Afterwards,the contributions of secondary components were apportioned into primary sources according to the source emission ratios.The final source apportionment results combined the contributions of primary sources by CMB and SEI.This integrated approach was carried out via a case study of three coastal cities(Zhoushan,Taizhou,and Wenzhou;abbreviated WZ,TZ,and ZS)in Zhejiang Province,China.The regular CMB simulation results showed that PM2.5 pollution was mainly affected by secondary components and mobile sources.The SEI results indicated that electricity,industrial production and mobile sources were the largest contributors to the emission of PM2.5 gaseous precursors.The simulation results of the CMB-SEI model showed that PM2.5 pollution in the coastal areas of Zhejiang Province presented complex pollution characteristics dominated by mobile sources,electricity production sources and industrial production sources.Compared to the results of the CMB and SEI models alone,the CMB-SEI model completely apportioned PM2.5 to primary sources and simultaneously made the results more accurate and reliable in accordance with local industrial characteristics.展开更多
As one of the basic inventory cost models, the （Q, τ）inventory cost model of dual suppliers with random procurement lead time is mostly formulated by using the concepts of ＂effective lead time＂ and ＂lead time de...As one of the basic inventory cost models, the （Q, τ）inventory cost model of dual suppliers with random procurement lead time is mostly formulated by using the concepts of ＂effective lead time＂ and ＂lead time demand＂, which may lead to an imprecise inventory cost. Through the real-time statistic of the inventory quantities, this paper considers the precise （Q, τ） inventory cost model of dual supplier procurement by using an infinitesimal dividing method. The traditional modeling method of the inventory cost for dual supplier procurement includes complex procedures. To reduce the complexity effectively, the presented method investigates the statistics properties in real-time of the inventory quantities with the application of the infinitesimal dividing method. It is proved that the optimal holding and shortage costs of dual supplier procurement are less than those of single supplier procurement respectively. With the assumption that both suppliers have the same distribution of lead times, the convexity of the cost function per unit time is proved. So the optimal solution can be easily obtained by applying the classical convex optimization methods. The numerical examples are given to verify the main conclusions.展开更多
This study presented a multi-objective linear fractional inventory (LFI) problem with generalised intuitionistic fuzzy numbers. In modelling, the authors have assumed the ambiances where generalised trapezoidal intuit...This study presented a multi-objective linear fractional inventory (LFI) problem with generalised intuitionistic fuzzy numbers. In modelling, the authors have assumed the ambiances where generalised trapezoidal intuitionistic fuzzy numbers (GTIFNs) used to handle the uncertain information in the data. Then, the given multi-objective generalised intuitionistic fuzzy LFI model was transformed into its equivalent deterministic linear fractional programming problem by employing the possibility and necessity measures. Finally, the applicability of the model is demonstrated with a numerical example and the sensitivity analysis under several parameters is investigated to explore the study.展开更多
We develop a newsvender model with service level constraint for oneproduct and multi-supplier system, where the supplies are susceptible to disruption risks. We prove the convexity of the programming problem,and provi...We develop a newsvender model with service level constraint for oneproduct and multi-supplier system, where the supplies are susceptible to disruption risks. We prove the convexity of the programming problem,and provide the necessary and sufficient conditions for the optimal order quantities. Through analysis or numerical experiments we observe the effects of the disrupt risk and the service level constraint on the optimal policy. We propose some managerial insights in managing the multi-source supply chain with disruption risks.展开更多
According to the current situation of repair and supply for valuable spare parts in the weapon equipment of the PLA,using the research results of the repairable spare parts inventory theory,an inventory model of the v...According to the current situation of repair and supply for valuable spare parts in the weapon equipment of the PLA,using the research results of the repairable spare parts inventory theory,an inventory model of the valuable spare parts in three-echelon repair and supply system is established by expanding the classical METRIC model and theory,and the genetic algorithm is utilized to solve the model.In the algorithm,the chromosome representation and initial population production,the crossover and mutation operators are designed.By using an example,a simulation analysis is carried out to verify the model's correctness.展开更多
In this article, a multi-product inventory routing problem is studied. One-depot and many retailers in a finite time period are considered, and split delivery is allowed as well for the addressed problem. The objectiv...In this article, a multi-product inventory routing problem is studied. One-depot and many retailers in a finite time period are considered, and split delivery is allowed as well for the addressed problem. The objective is to minimize the overall cost including vehicle cost, inventory holding cost and transportation cost while the delivery schedule and the quantity of each product for each retailer have to be decided simultaneously. A mathematical model is presented for solving the addressed optimally and example is illustrated as well.展开更多
From the mathematical point of view,the flexible inventory control model is proved in the practical problem application and the rationality of the capacity parameter selection and calculation.The purpose is to activel...From the mathematical point of view,the flexible inventory control model is proved in the practical problem application and the rationality of the capacity parameter selection and calculation.The purpose is to actively respond to demand fluctuations when there is a demand forecast error or a missing part of the demand information,and to avoid the risk of passive variable demand forecasting to set the immutable inventory capacity.At the same time,the game is controlled by the flexible and variable inventory control strategy and the customer’s willingness to demand.The paper mainly studies the influence of the setting of capacity parameters on the booking-limit decision and its benefits under the control of flexible space with variable total capacity.Through the two trends of capacity increase flexibility and capacity reduction flexibility in the flexible inventory control model,the mathematical performance and marginal utility methods are introduced to change the performance of the booking-limit control decision model under different scenarios.The correlation analysis between the capacity limit level and the return under the optimal Bookinglimit decision,and the above two flexibility parameters are obtained.展开更多
Acquisition of tree inventory parameters such as tree position with respect to a local reference coordinate system, tree height, dbh （diameter breast height） and other associated tree attributes is a tedious process...Acquisition of tree inventory parameters such as tree position with respect to a local reference coordinate system, tree height, dbh （diameter breast height） and other associated tree attributes is a tedious process, time consuming, costly and labour intensive. An automatic collection and processing in the field could expedite the process of tree inventory survey and data management. The advent of handheld laser equipments such as the MDL LaserAce 300, should allow rapid acquisition of tree attributes. The instrument measures distances, differences in height and horizontal bearing automatically. This paper describes a study about the automated process of retrieving tree positions, their respective attributes and the creation of 3-D model （three-dimensional model）. A software developed in-house known as ASSIST （automated spatial survey information system） was utilized together with the MI）I, LaserAce 300, being the hardware component of the automated system. The capability of MDL LaserAce 9300 in extracting information regarding tree inventory attributes and the 3-D model encompassing the study area was investigated. The results were checked against the data sets acquired by a total station traversing and tacheometric survey respectively. The accuracy of the horizontal and vertical position of points gathered was critically assessed. The accuracy of the MDL LaserAce 300 was found to be less than ±2 m for both planimetric （horizontal） and vertical （height） in the construction of the 3-D model. The study demonstrates the effectiveness of a field-based automation system as a viable option to support forest application requirement.展开更多
To solve the inventory coordination model in a multi-stage, multi-customer supply chain, this paper first analyzes the third model （integer powers of two multipliers at each firm） studied by Moutaz Khouja （2003）, ...To solve the inventory coordination model in a multi-stage, multi-customer supply chain, this paper first analyzes the third model （integer powers of two multipliers at each firm） studied by Moutaz Khouja （2003）, and the authors take a numerical example to prove that the third model is irrational to miss feasible solution. Then this paper puts up a new improved model （integer multiplier at each firm）, and takes the example to prove it gives better results than the integer powers of two multipliers at each firm.展开更多
Recently,the transportation sector in China has gradually become the main source of urban air pollution and primary driver of carbon emissions growth.Considering air pollutants and greenhouse gases come from the same ...Recently,the transportation sector in China has gradually become the main source of urban air pollution and primary driver of carbon emissions growth.Considering air pollutants and greenhouse gases come from the same emission sources,it is necessary to establish an updated high-resolution emission inventory for the transportation sector in Central China,themost polluted region in China.The inventory includes on-road mobile,non-roadmobile,oil storage and transportation,and covers 9 types of air pollutants and 3 types of greenhouse gases.Based on the Long-range Energy Alternatives Planning System(LEAP)model,the emissions of pollutants were predicted for the period from2020 to 2035 in different scenarios.Results showed that in 2020,emissions of SO_(2),NO_(x),CO,PM_(10),PM_(2.5),VOCs,NH_(3),BC,OC,CO_(2),CH_(4),and N_(2)O in Henan Province were 27.5,503.2,878.6,20.1,17.4,222.1,21.5,9.4,2.9,92,077.9,6.0,and 10.4 kilotons,respectively.Energy demand and pollutant emissions in Henan Province are simulated under four scenarios(Baseline Scenario(BS),Pollution Abatement Scenario(PA),Green Transportation Scenario(GT),and Reinforcing Low Carbon Scenario(RLC)).The collaborative emission reduction effect is most significant in the RLC scenario,followed by the GT scenario.By 2035,under the RLC scenario,energy consumption and emissions of SO_(2),NO_(x),CO,PM_(10),PM_(2.5),VOCs,NH_(3),CO_(2),CH_(4),and N_(2)O are projected to decrease by 72.0%,30.0%,55.6%,56.0%,38.6%,39.7%,51.5%,66.1%,65.5%,55.4%,and 52.8%,respectively.This study provides fundamental data support for subsequent numerical simulations.展开更多
Although momentum strategies result in abnormal profitability,thereby challenging the efficient market hypothesis(EMH),concerns persist regarding their reliability due to their significant volatility and susceptibilit...Although momentum strategies result in abnormal profitability,thereby challenging the efficient market hypothesis(EMH),concerns persist regarding their reliability due to their significant volatility and susceptibility to substantial losses.In this study,we investigate the limitations of these strategies and propose a solution.Our literature review reveals that the volatile profits are due to statistical analyses that assume the persistence of past patterns,leading to unreliable results in out-of-sample scenarios when underlying mechanisms evolve.Statistical analysis,the predominant method in financial economics,often proves inadequate in explaining market fluctuations and predicting crashes.To overcome these limitations,a paradigm shift towards dynamic approaches is essential.Drawing inspiration from three groundbreaking economists,we introduce the extended Samuelson model(ESM),a dynamic model that connects price changes to market participant actions.This paradigm transition uncovers several significant findings.First,timely signals indicate momentum initiations,cessations,and reversals,validated using S&P 500 data from 1999 to 2023.Second,ESM predicts the 1987 Black Monday crash weeks in advance,offering a new perspective on its underlying cause.Third,we classify sequential stock price data into eight distinct market states,including their thresholds for transitions,laying the groundwork for market trend predictions and risk assessments.Fourth,the ESM is shown to be a compelling alternative to EMH,offering potent explanatory and predictive power based on a single,realistic assumption.Our findings suggest that ESM has the potential to provide policymakers with proactive tools,enabling financial institutions to enhance their risk assessment and management strategies.展开更多
A service station plays an important role in the petroleum product distribution terminal. With the increase in petroleum consumption in China, the inventory theory should be applied in the stock control of service st...A service station plays an important role in the petroleum product distribution terminal. With the increase in petroleum consumption in China, the inventory theory should be applied in the stock control of service stations. In this paper the inventory theory including its background and characteristics is introduced. At the same time, the application of the theory in some trades today, especially in petroleum trade, is analyzed. Then (s, S) stochastic model is advanced, which is established according to the principle of operational research and, based on this model, a sample is given, which discusses the details of application in the stock control of service stations. The sample is simplified but implies the validity of the model in optimizing the storage of petroleum products in the market.展开更多
Stand age plays a crucial role in forest biomass estimation and carbon cycle modeling.Assessing the uncertainty of stand age prediction models and identifying the key driving factors in the modeling process have becom...Stand age plays a crucial role in forest biomass estimation and carbon cycle modeling.Assessing the uncertainty of stand age prediction models and identifying the key driving factors in the modeling process have become major challenges in forestry research.In this study,we selected the Shaanxi-Gansu-Ningxia region of Northeast China as the research area and utilized multi-source datasets from the summer of 2019 to extract information on spectral,textural,climatic,water balance,and stand characteristics.By integrating the Random Forest(RF)model with Monte Carlo(MC)simulation,we constructed six regression models based on different combina-tions of features and evaluated the uncertainty of each model.Furthermore,we investigated the driving factors influencing stand age modeling by analyzing the effects of different types of features on age inversion.Model performance and accuracy were assessed using the root mean square error(RMSE),mean absolute error(MAE),and the coefficient of determination(R^(2)),while the relative root mean square error(rRMSE)was employed to quantify model uncertainty.The results indicate that the scenarios with more obvious improve-ment in accuracy and effective reduction in uncertainty were Scenario 3 with the inclusion of climate and water balance information(RMSE=25.54 yr,MAE=18.03 yr,R^(2)=0.51,rRMSE=19.17%)and Scenario 5 with the inclusion of stand characterization informa-tion(RMSE=18.47 yr,MAE=13.05 yr,R^(2)=0.74,rRMSE=16.99%).Scenario 6,incorporating all feature types,achieved the highest accuracy(RMSE=17.60 yr,MAE=12.06 yr,R^(2)=0.77,rRMSE=14.19%).In this study,elevation,minimum temperature,and diameter at breast height(DBH)emerged as the key drivers of stand-age modeling.The proposed method can be used to identify drivers and to quantify uncertainty in stand-age estimation,providing a useful reference for improving model accuracy and uncertainty assessment.展开更多
文摘In this paper, a multi-item inventory model with storage space, number of orders and production cost as constraints are developed in both crisp and fuzzy environment. In most of the real world situations the cost parameters, the objective functions and constraints of the decision makers are imprecise in nature. This model is solved with shortages and the unit cost dependent demand is assumed. Hence the cost parameters are imposed here in fuzzy environment. This model has been solved by Kuhn-Tucker conditions method. The results for the model without shortages are obtained as a particular case. The model is illustrated with numerical example.
文摘According to the principle of minimizing total cost, the three-echelon optimized medical inventory model with stochastic lead-time and two-echelon optimized medicine inventory model with fixed lead-time are established. The relationship between lead-time and inventory cost is studied by Matlab software. It shows that the variety of lead-time has an important effect on medicine inventory systems. Numerical simulation and sensitivity analysis of two models are presented by Lingo software. Based on analysis, it is concluded that the two-echelon model with lead-time results in inventory cost savings, and keeps the quality of care as reflected in service levels when compared with the three-echelon network structure.
基金supported by the National Key Research and Development Program of China(No.2018YFC0214102)。
文摘The source apportionment of PM2.5 is essential for pollution prevention.In view of the weaknesses of individual models,we proposed an integrated chemical mass balancesource emission inventory(CMB-SEI)model to acquire more accurate results.First,the SEI of secondary component precursors(SO2,NOx,NH3,and VOCs)was compiled to acquire the emission ratios of these sources for the precursors.Then,a regular CMB simulation was executed to obtain the contributions of primary particle sources and secondary components(SO4^2-,NO3^-3,NH4^+,and SOC).Afterwards,the contributions of secondary components were apportioned into primary sources according to the source emission ratios.The final source apportionment results combined the contributions of primary sources by CMB and SEI.This integrated approach was carried out via a case study of three coastal cities(Zhoushan,Taizhou,and Wenzhou;abbreviated WZ,TZ,and ZS)in Zhejiang Province,China.The regular CMB simulation results showed that PM2.5 pollution was mainly affected by secondary components and mobile sources.The SEI results indicated that electricity,industrial production and mobile sources were the largest contributors to the emission of PM2.5 gaseous precursors.The simulation results of the CMB-SEI model showed that PM2.5 pollution in the coastal areas of Zhejiang Province presented complex pollution characteristics dominated by mobile sources,electricity production sources and industrial production sources.Compared to the results of the CMB and SEI models alone,the CMB-SEI model completely apportioned PM2.5 to primary sources and simultaneously made the results more accurate and reliable in accordance with local industrial characteristics.
基金supported by the National High Technology Research and Development Program of China(863 Program)(2007AA04Z102)the National Natural Science Foundation of China(6087407160574077).
文摘As one of the basic inventory cost models, the （Q, τ）inventory cost model of dual suppliers with random procurement lead time is mostly formulated by using the concepts of ＂effective lead time＂ and ＂lead time demand＂, which may lead to an imprecise inventory cost. Through the real-time statistic of the inventory quantities, this paper considers the precise （Q, τ） inventory cost model of dual supplier procurement by using an infinitesimal dividing method. The traditional modeling method of the inventory cost for dual supplier procurement includes complex procedures. To reduce the complexity effectively, the presented method investigates the statistics properties in real-time of the inventory quantities with the application of the infinitesimal dividing method. It is proved that the optimal holding and shortage costs of dual supplier procurement are less than those of single supplier procurement respectively. With the assumption that both suppliers have the same distribution of lead times, the convexity of the cost function per unit time is proved. So the optimal solution can be easily obtained by applying the classical convex optimization methods. The numerical examples are given to verify the main conclusions.
文摘This study presented a multi-objective linear fractional inventory (LFI) problem with generalised intuitionistic fuzzy numbers. In modelling, the authors have assumed the ambiances where generalised trapezoidal intuitionistic fuzzy numbers (GTIFNs) used to handle the uncertain information in the data. Then, the given multi-objective generalised intuitionistic fuzzy LFI model was transformed into its equivalent deterministic linear fractional programming problem by employing the possibility and necessity measures. Finally, the applicability of the model is demonstrated with a numerical example and the sensitivity analysis under several parameters is investigated to explore the study.
文摘We develop a newsvender model with service level constraint for oneproduct and multi-supplier system, where the supplies are susceptible to disruption risks. We prove the convexity of the programming problem,and provide the necessary and sufficient conditions for the optimal order quantities. Through analysis or numerical experiments we observe the effects of the disrupt risk and the service level constraint on the optimal policy. We propose some managerial insights in managing the multi-source supply chain with disruption risks.
基金Sponsored by the Foundation of National Defense Research(2008-76320)
文摘According to the current situation of repair and supply for valuable spare parts in the weapon equipment of the PLA,using the research results of the repairable spare parts inventory theory,an inventory model of the valuable spare parts in three-echelon repair and supply system is established by expanding the classical METRIC model and theory,and the genetic algorithm is utilized to solve the model.In the algorithm,the chromosome representation and initial population production,the crossover and mutation operators are designed.By using an example,a simulation analysis is carried out to verify the model's correctness.
文摘In this article, a multi-product inventory routing problem is studied. One-depot and many retailers in a finite time period are considered, and split delivery is allowed as well for the addressed problem. The objective is to minimize the overall cost including vehicle cost, inventory holding cost and transportation cost while the delivery schedule and the quantity of each product for each retailer have to be decided simultaneously. A mathematical model is presented for solving the addressed optimally and example is illustrated as well.
文摘From the mathematical point of view,the flexible inventory control model is proved in the practical problem application and the rationality of the capacity parameter selection and calculation.The purpose is to actively respond to demand fluctuations when there is a demand forecast error or a missing part of the demand information,and to avoid the risk of passive variable demand forecasting to set the immutable inventory capacity.At the same time,the game is controlled by the flexible and variable inventory control strategy and the customer’s willingness to demand.The paper mainly studies the influence of the setting of capacity parameters on the booking-limit decision and its benefits under the control of flexible space with variable total capacity.Through the two trends of capacity increase flexibility and capacity reduction flexibility in the flexible inventory control model,the mathematical performance and marginal utility methods are introduced to change the performance of the booking-limit control decision model under different scenarios.The correlation analysis between the capacity limit level and the return under the optimal Bookinglimit decision,and the above two flexibility parameters are obtained.
文摘Acquisition of tree inventory parameters such as tree position with respect to a local reference coordinate system, tree height, dbh （diameter breast height） and other associated tree attributes is a tedious process, time consuming, costly and labour intensive. An automatic collection and processing in the field could expedite the process of tree inventory survey and data management. The advent of handheld laser equipments such as the MDL LaserAce 300, should allow rapid acquisition of tree attributes. The instrument measures distances, differences in height and horizontal bearing automatically. This paper describes a study about the automated process of retrieving tree positions, their respective attributes and the creation of 3-D model （three-dimensional model）. A software developed in-house known as ASSIST （automated spatial survey information system） was utilized together with the MI）I, LaserAce 300, being the hardware component of the automated system. The capability of MDL LaserAce 9300 in extracting information regarding tree inventory attributes and the 3-D model encompassing the study area was investigated. The results were checked against the data sets acquired by a total station traversing and tacheometric survey respectively. The accuracy of the horizontal and vertical position of points gathered was critically assessed. The accuracy of the MDL LaserAce 300 was found to be less than ±2 m for both planimetric （horizontal） and vertical （height） in the construction of the 3-D model. The study demonstrates the effectiveness of a field-based automation system as a viable option to support forest application requirement.
文摘To solve the inventory coordination model in a multi-stage, multi-customer supply chain, this paper first analyzes the third model （integer powers of two multipliers at each firm） studied by Moutaz Khouja （2003）, and the authors take a numerical example to prove that the third model is irrational to miss feasible solution. Then this paper puts up a new improved model （integer multiplier at each firm）, and takes the example to prove it gives better results than the integer powers of two multipliers at each firm.
基金supported by the 2020 National Supercomputing Zhengzhou Center Innovation Ecosystem Construction Technology Project(No.201400210700)Zhengzhou PM2.5 and O3 Collaborative Control and Monitoring Project(No.20220347A).
文摘Recently,the transportation sector in China has gradually become the main source of urban air pollution and primary driver of carbon emissions growth.Considering air pollutants and greenhouse gases come from the same emission sources,it is necessary to establish an updated high-resolution emission inventory for the transportation sector in Central China,themost polluted region in China.The inventory includes on-road mobile,non-roadmobile,oil storage and transportation,and covers 9 types of air pollutants and 3 types of greenhouse gases.Based on the Long-range Energy Alternatives Planning System(LEAP)model,the emissions of pollutants were predicted for the period from2020 to 2035 in different scenarios.Results showed that in 2020,emissions of SO_(2),NO_(x),CO,PM_(10),PM_(2.5),VOCs,NH_(3),BC,OC,CO_(2),CH_(4),and N_(2)O in Henan Province were 27.5,503.2,878.6,20.1,17.4,222.1,21.5,9.4,2.9,92,077.9,6.0,and 10.4 kilotons,respectively.Energy demand and pollutant emissions in Henan Province are simulated under four scenarios(Baseline Scenario(BS),Pollution Abatement Scenario(PA),Green Transportation Scenario(GT),and Reinforcing Low Carbon Scenario(RLC)).The collaborative emission reduction effect is most significant in the RLC scenario,followed by the GT scenario.By 2035,under the RLC scenario,energy consumption and emissions of SO_(2),NO_(x),CO,PM_(10),PM_(2.5),VOCs,NH_(3),CO_(2),CH_(4),and N_(2)O are projected to decrease by 72.0%,30.0%,55.6%,56.0%,38.6%,39.7%,51.5%,66.1%,65.5%,55.4%,and 52.8%,respectively.This study provides fundamental data support for subsequent numerical simulations.
文摘Although momentum strategies result in abnormal profitability,thereby challenging the efficient market hypothesis(EMH),concerns persist regarding their reliability due to their significant volatility and susceptibility to substantial losses.In this study,we investigate the limitations of these strategies and propose a solution.Our literature review reveals that the volatile profits are due to statistical analyses that assume the persistence of past patterns,leading to unreliable results in out-of-sample scenarios when underlying mechanisms evolve.Statistical analysis,the predominant method in financial economics,often proves inadequate in explaining market fluctuations and predicting crashes.To overcome these limitations,a paradigm shift towards dynamic approaches is essential.Drawing inspiration from three groundbreaking economists,we introduce the extended Samuelson model(ESM),a dynamic model that connects price changes to market participant actions.This paradigm transition uncovers several significant findings.First,timely signals indicate momentum initiations,cessations,and reversals,validated using S&P 500 data from 1999 to 2023.Second,ESM predicts the 1987 Black Monday crash weeks in advance,offering a new perspective on its underlying cause.Third,we classify sequential stock price data into eight distinct market states,including their thresholds for transitions,laying the groundwork for market trend predictions and risk assessments.Fourth,the ESM is shown to be a compelling alternative to EMH,offering potent explanatory and predictive power based on a single,realistic assumption.Our findings suggest that ESM has the potential to provide policymakers with proactive tools,enabling financial institutions to enhance their risk assessment and management strategies.
文摘A service station plays an important role in the petroleum product distribution terminal. With the increase in petroleum consumption in China, the inventory theory should be applied in the stock control of service stations. In this paper the inventory theory including its background and characteristics is introduced. At the same time, the application of the theory in some trades today, especially in petroleum trade, is analyzed. Then (s, S) stochastic model is advanced, which is established according to the principle of operational research and, based on this model, a sample is given, which discusses the details of application in the stock control of service stations. The sample is simplified but implies the validity of the model in optimizing the storage of petroleum products in the market.
基金Under the auspices of the Natural Science Foundation of China(No.32371875,32001249)。
文摘Stand age plays a crucial role in forest biomass estimation and carbon cycle modeling.Assessing the uncertainty of stand age prediction models and identifying the key driving factors in the modeling process have become major challenges in forestry research.In this study,we selected the Shaanxi-Gansu-Ningxia region of Northeast China as the research area and utilized multi-source datasets from the summer of 2019 to extract information on spectral,textural,climatic,water balance,and stand characteristics.By integrating the Random Forest(RF)model with Monte Carlo(MC)simulation,we constructed six regression models based on different combina-tions of features and evaluated the uncertainty of each model.Furthermore,we investigated the driving factors influencing stand age modeling by analyzing the effects of different types of features on age inversion.Model performance and accuracy were assessed using the root mean square error(RMSE),mean absolute error(MAE),and the coefficient of determination(R^(2)),while the relative root mean square error(rRMSE)was employed to quantify model uncertainty.The results indicate that the scenarios with more obvious improve-ment in accuracy and effective reduction in uncertainty were Scenario 3 with the inclusion of climate and water balance information(RMSE=25.54 yr,MAE=18.03 yr,R^(2)=0.51,rRMSE=19.17%)and Scenario 5 with the inclusion of stand characterization informa-tion(RMSE=18.47 yr,MAE=13.05 yr,R^(2)=0.74,rRMSE=16.99%).Scenario 6,incorporating all feature types,achieved the highest accuracy(RMSE=17.60 yr,MAE=12.06 yr,R^(2)=0.77,rRMSE=14.19%).In this study,elevation,minimum temperature,and diameter at breast height(DBH)emerged as the key drivers of stand-age modeling.The proposed method can be used to identify drivers and to quantify uncertainty in stand-age estimation,providing a useful reference for improving model accuracy and uncertainty assessment.
