The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod mod...The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod model for its portfolio problem. The model is a multistage stochastic programming which considers transaction costs, cash flow between time periods, and the matching of asset and liability; it does not depend on the assumption for normality of return distribution. Additionally, an investment constraint is added. The numerical example manifests that the multiperiod model can more effectively assist the property-liability insurer to determine the optimal composition of insurance and investment portfolio and outperforms the single period one.展开更多
The Longmenshan(LMS)fault zone is located at the junction of the eastern Tibetan Plateau and the Sichuan Basin and is of great significance for studying regional tectonics and earthquake hazards.Although regional velo...The Longmenshan(LMS)fault zone is located at the junction of the eastern Tibetan Plateau and the Sichuan Basin and is of great significance for studying regional tectonics and earthquake hazards.Although regional velocity models are available for the LMS fault zone,high-resolution velocity models are lacking.Therefore,a dense array of 240 short-period seismometers was deployed around the central segment of the LMS fault zone for approximately 30 days to monitor earthquakes and characterize fine structures of the fault zone.Considering the large quantity of observed seismic data,the data processing workflow consisted of deep learning-based automatic earthquake detection,phase arrival picking,and association.Compared with the earthquake catalog released by the China Earthquake Administration,many more earthquakes were detected by the dense array.Double-difference seismic tomography was adopted to determine V_(p),V_(s),and V_(p)/V_(s)models as well as earthquake locations.The checkerboard test showed that the velocity models have spatial resolutions of approximately 5 km in the horizontal directions and 2 km at depth.To the west of the Yingxiu–Beichuan Fault(YBF),the Precambrian Pengguan complex,where most of earthquakes occurred,is characterized by high velocity and low V_(p)/V_(s)values.In comparison,to the east of the YBF,the Upper Paleozoic to Jurassic sediments,where few earthquakes occurred,show low velocity and high V_(p)/V_(s)values.Our results suggest that the earthquake activity in the LMS fault zone is controlled by the strength of the rock compositions.When the high-resolution velocity models were combined with the relocated earthquakes,we were also able to delineate the fault geometry for different faults in the LMS fault zone.展开更多
Coal dependence and inefficient decentralized heating have significantly increased China’s energy consumption for winter heating,increasing air pollution and exacerbating the greenhouse effect.In 2017,China implement...Coal dependence and inefficient decentralized heating have significantly increased China’s energy consumption for winter heating,increasing air pollution and exacerbating the greenhouse effect.In 2017,China implemented the Pilot Policy on Clean Winter Heating in Northern China,aiming to achieve high central heating coverage and cleaner energy consumption.Studying the effects of this policy can help promote its implementation and serve as a reference for effective adjustment of the contents in the future.However,few studies have investigated this policy and its carbon reduction effects,and most focus on the provincial or city levels.Therefore,this paper considers the policy’s influence on air pollution and carbon emissions at the county level to provide a precise and comprehensive assessment of the policy effects.We use panel data from 1290 counties in 15 provinces in Northern China from 2014 to 2021,applying a multiperiod difference-in-differences model to quantify the impact of the policy on carbon emissions and air quality in the pilot area.We then conduct a series of tests to demonstrate the robustness of the results and analyze the mechanisms of the policy effects from two perspectives,namely,central heating and natural gas use,through a mediating effect model.Finally,we examine the heterogeneity of policy effects between counties based on geographic location and per capita income levels of rural residents through a moderating effect model.The results reveal that the policy significantly reduces air pollution and carbon emissions in the pilot area by increasing the central heating area and natural gas use.Compared with the central and western regions in the north and areas with low-income rural residents,the policy effects in the eastern regions in the north and areas with high-income rural residents are more pronounced.展开更多
The China Seismic Experimental Site(CSES)is located at the intersection of the Tibetan Plateau,South China Block,and Indian Plate and has complex geological settings and intense crustal deformation,making it one of th...The China Seismic Experimental Site(CSES)is located at the intersection of the Tibetan Plateau,South China Block,and Indian Plate and has complex geological settings and intense crustal deformation,making it one of the most seismically active areas in Chinese mainland.A high-resolution,three-dimensional(3D)crust-mantle velocity structure is crucial for understanding seismotectonic environments,lithospheric deformation mechanisms,and deep dynamic processes.We first constructed a high-vertical-resolution 3D initial velocity model using the joint inversion of receiver functions and surface waves and then obtained a 3D P-and S-wave velocity model(CSES-VM1.0)with the highest lateral resolution of 0.25°for the CSES using double-difference tomography.Owing to the limitations of the Sn observation data,the resolution of the S-wave velocity model in the lower crust and upper mantle was reduced,making it closer to the initial model provided by joint inversion.A comparison with explosive-source seismic data showed that the synthetic P-wave first-arrival travel times of the new model were closer to the observations than those of the previous velocity models.The velocity cross-sections across the source areas of the 2022 Lushan MS6.1 and Ludian MS6.8 earthquakes reveal that the former earthquake occurred near a weak contact zone between the Tibetan Plateau and Sichuan Basin,and the rupture of the latter earthquake occurred in a granitic area,with the northern end blocked by rigid high-velocity bodies.A clear high-velocity anomaly zone is distributed along the western margin of the Yangtze Block,revealing the spatial distribution of Neoproterozoic intermediate-basic intrusions.This high-velocity zone significantly controls the morphology of fault zones and influences the rupture processes of major earthquakes.Two northeast-southwest and north-south trending high-velocity anomalies were found near Panzhihua,potentially related to Neoproterozoic and Middle-Late Permian intermediate-basic intrusions.The imaging results revealed the spatial distribution of the Lincang granitoid batholith,the uplifted zone of the central axis fault in the Simao Basin,and the Ailaoshan complex belt in the southwestern CSES,demonstrating a higher spatial resolution compared to previous results.Our velocity model provides an essential foundation for deep structural studies,high-precision earthquake locations,and strong ground motion simulations in the CSES.展开更多
文摘The current portfolio model for property-liability insurance company is only single period that can not meet the practical demands of portfolio management, and the purpose of this paper is to develop a multiperiod model for its portfolio problem. The model is a multistage stochastic programming which considers transaction costs, cash flow between time periods, and the matching of asset and liability; it does not depend on the assumption for normality of return distribution. Additionally, an investment constraint is added. The numerical example manifests that the multiperiod model can more effectively assist the property-liability insurer to determine the optimal composition of insurance and investment portfolio and outperforms the single period one.
基金supported by the Scientific Research Foundation for High-level Talents of Anhui University of Science and Technology under Grant 2024yjrc64the National Key R&D Program of China under Grant 2018YFC1504102。
文摘The Longmenshan(LMS)fault zone is located at the junction of the eastern Tibetan Plateau and the Sichuan Basin and is of great significance for studying regional tectonics and earthquake hazards.Although regional velocity models are available for the LMS fault zone,high-resolution velocity models are lacking.Therefore,a dense array of 240 short-period seismometers was deployed around the central segment of the LMS fault zone for approximately 30 days to monitor earthquakes and characterize fine structures of the fault zone.Considering the large quantity of observed seismic data,the data processing workflow consisted of deep learning-based automatic earthquake detection,phase arrival picking,and association.Compared with the earthquake catalog released by the China Earthquake Administration,many more earthquakes were detected by the dense array.Double-difference seismic tomography was adopted to determine V_(p),V_(s),and V_(p)/V_(s)models as well as earthquake locations.The checkerboard test showed that the velocity models have spatial resolutions of approximately 5 km in the horizontal directions and 2 km at depth.To the west of the Yingxiu–Beichuan Fault(YBF),the Precambrian Pengguan complex,where most of earthquakes occurred,is characterized by high velocity and low V_(p)/V_(s)values.In comparison,to the east of the YBF,the Upper Paleozoic to Jurassic sediments,where few earthquakes occurred,show low velocity and high V_(p)/V_(s)values.Our results suggest that the earthquake activity in the LMS fault zone is controlled by the strength of the rock compositions.When the high-resolution velocity models were combined with the relocated earthquakes,we were also able to delineate the fault geometry for different faults in the LMS fault zone.
基金supported by the National Social Science Fund of China[Grant No.21BGL181]to Yan Chen.
文摘Coal dependence and inefficient decentralized heating have significantly increased China’s energy consumption for winter heating,increasing air pollution and exacerbating the greenhouse effect.In 2017,China implemented the Pilot Policy on Clean Winter Heating in Northern China,aiming to achieve high central heating coverage and cleaner energy consumption.Studying the effects of this policy can help promote its implementation and serve as a reference for effective adjustment of the contents in the future.However,few studies have investigated this policy and its carbon reduction effects,and most focus on the provincial or city levels.Therefore,this paper considers the policy’s influence on air pollution and carbon emissions at the county level to provide a precise and comprehensive assessment of the policy effects.We use panel data from 1290 counties in 15 provinces in Northern China from 2014 to 2021,applying a multiperiod difference-in-differences model to quantify the impact of the policy on carbon emissions and air quality in the pilot area.We then conduct a series of tests to demonstrate the robustness of the results and analyze the mechanisms of the policy effects from two perspectives,namely,central heating and natural gas use,through a mediating effect model.Finally,we examine the heterogeneity of policy effects between counties based on geographic location and per capita income levels of rural residents through a moderating effect model.The results reveal that the policy significantly reduces air pollution and carbon emissions in the pilot area by increasing the central heating area and natural gas use.Compared with the central and western regions in the north and areas with low-income rural residents,the policy effects in the eastern regions in the north and areas with high-income rural residents are more pronounced.
基金supported by the National Key R&D Program of China(Grant No.2022YFF0800601)the National Natural Science Foundation of China(Grant No.U2039204)the Special Funds for Basic Scientific Research Business Fees of Institute of Geophysics,China Earthquake Administration(Grant No.DQJB21Z03)。
文摘The China Seismic Experimental Site(CSES)is located at the intersection of the Tibetan Plateau,South China Block,and Indian Plate and has complex geological settings and intense crustal deformation,making it one of the most seismically active areas in Chinese mainland.A high-resolution,three-dimensional(3D)crust-mantle velocity structure is crucial for understanding seismotectonic environments,lithospheric deformation mechanisms,and deep dynamic processes.We first constructed a high-vertical-resolution 3D initial velocity model using the joint inversion of receiver functions and surface waves and then obtained a 3D P-and S-wave velocity model(CSES-VM1.0)with the highest lateral resolution of 0.25°for the CSES using double-difference tomography.Owing to the limitations of the Sn observation data,the resolution of the S-wave velocity model in the lower crust and upper mantle was reduced,making it closer to the initial model provided by joint inversion.A comparison with explosive-source seismic data showed that the synthetic P-wave first-arrival travel times of the new model were closer to the observations than those of the previous velocity models.The velocity cross-sections across the source areas of the 2022 Lushan MS6.1 and Ludian MS6.8 earthquakes reveal that the former earthquake occurred near a weak contact zone between the Tibetan Plateau and Sichuan Basin,and the rupture of the latter earthquake occurred in a granitic area,with the northern end blocked by rigid high-velocity bodies.A clear high-velocity anomaly zone is distributed along the western margin of the Yangtze Block,revealing the spatial distribution of Neoproterozoic intermediate-basic intrusions.This high-velocity zone significantly controls the morphology of fault zones and influences the rupture processes of major earthquakes.Two northeast-southwest and north-south trending high-velocity anomalies were found near Panzhihua,potentially related to Neoproterozoic and Middle-Late Permian intermediate-basic intrusions.The imaging results revealed the spatial distribution of the Lincang granitoid batholith,the uplifted zone of the central axis fault in the Simao Basin,and the Ailaoshan complex belt in the southwestern CSES,demonstrating a higher spatial resolution compared to previous results.Our velocity model provides an essential foundation for deep structural studies,high-precision earthquake locations,and strong ground motion simulations in the CSES.
