Constant risk aversion in stochastic contests with exponential completion times

This article analyzes a class of stochastic contests among multiple players under risk‐averse exponential utility. In these contests, players compete over the completion of a task by simultaneously deciding on their investment, which determines how fast they complete the task. The completion time of the task for each player is assumed to be an exponentially distributed random variable with rate linear in the player's investment and the completion times of different players are assumed to be stochastically independent. The player that completes the task first earns a prize whereas the remaining players earn nothing. The article establishes a one‐to‐one correspondence between the Nash equilibrium of this contest with respect to risk‐averse exponential utilities and the nonnegative solution of a nonlinear equation. Using the properties of the latter, it proves the existence and the uniqueness of the Nash equilibrium, and provides an efficient method to compute it. It exploits the resulting representation of the equilibrium investments to determine the effects of risk aversion and the differences between the outcome of the Nash equilibrium and that of a centralized version.© 2016 Wiley Periodicals, Inc. Naval Research Logistics 66:4–14, 2019     

On gamma estimation via matrix kriging

In financial engineering, sensitivities of derivative prices (also known as the Greeks) are important quantities in risk management, and stochastic gradient estimation methods are used to estimate them given the market parameters. In practice, the surface (function) of the Greeks with respect to the underlying parameters is much more desired, because it can be used in real‐time risk management. In this paper, we consider derivatives with multiple underlying assets, and propose three stochastic kriging‐based methods, the element‐by‐element, the importance mapping, and the Cholesky decomposition, to fit the surface of the gamma matrix that can fulfill the time constraint and the precision requirement in real‐time risk management. Numerical experiments are provided to illustrate the effectiveness of the proposed methods.     

烟草生产储存火灾危险性及防火对策研究

通过分析烟草生产、储存中的火灾危险性和当前烟草生产、储存时采用的防火措施,对卷烟联合生产工房内储存物料的安全间距、厂房和仓库外搭建雨篷、消防车道和烟草仓库消防设施设计等问题进行了探讨。     

领导干部经济责任审计风险成因及其防范

当前,领导干部经济责任审计风险的成因主要有外部原因和内部原因两个方面。防范经济责任审计风险,必须创造良好的审计环境,加强审计工作管理,努力提高审计人员的综合素质。     

基层消防部队审计工作存在的问题及对策

受各方面因素的影响,目前基层消防部队开展的审计项目主要是以经济责任审计为主。基建工程项目审计主要委托地方中介机构办理,审计的项目和手段单一,效能作用发挥不明显。为此,提出了改进和加强基层消防部队审计工作的几点对策。     

兵团高校教师成长制约因素调研与分析

教师队伍能否健康成长直接影响高校教育事业的发展并问接影响地方经济的发展。本文通过对新疆生产建设兵团四所高校教师的调研并对调研的结果进行了统计分析,找出目前影响兵团高校教师队伍成长的制约因素,进而提出解决影响兵团高校教师成长的对策。     

在线并列生产装置固有火灾危险度评估

石油化工生产工艺装置复杂 ,工艺控制参数苛刻 ,处理的物料大都具有易燃易爆等特殊的危险性。针对石化生产装置的共同特点 ,通过三套在线并列存在的炼油生产装置 ,从物料特性、工艺装置、工艺控制参数、操作控制等方面综合分析其火灾危险因素 ,并采用美国道化学公司火灾、爆炸危险指数评价法评估装置间的固有火灾危险 ,为消防安全设施的配置以及灭火预案的制定提供依据。     

合成射流影响因素

在综合国外大量实验和数值模拟数据的基础上 ,对影响合成射流特性的驱动因素、结构因素进行了分析和总结 ,并且通过数值模拟的方法对雷诺数以及斯托罗哈数对合成射流的影响进行了研究。获得了反映合成射流激励器特征的函数关系式 ,为激励器的初步设计提供指导     

细致的描写 深刻的思想──“The Sampler”浅析

大学英语第一册里的“Ｔｈｅ Ｓａｍｐｌｅｒ”是一篇不可多得的佳作。它不仅胜在细致、准确、到位的描写,而且胜在其深刻的思想性。本文拟从语言因素分析其文体色彩,通过其揭示的社会问题即西方社会老年人的境遇来探讨其思想性。     

Risk,War, and the Dangers of Soldier Identity

The profession of arms is distinct from other professions for many reasons. One reason which is not so obvious is that, unlike members of other professions, soldiers may go their entire careers preparing for a day that never arrives. All things considered, we should think this to be a very good thing. For soldiers, however, this can feel somewhat odd, since there is a natural desire to want to feel useful and to see one’s role and purpose find realization. Accordingly, the common soldier is forced to adopt a rather paradoxical mindset, one of longing for peace, and therefore for uselessness, while at the same time longing to be useful, which would entail that there be a war. This latter desire to be useful and to vindicate one’s identity as a soldier can sometimes take on an unhealthy life of its own. The pull of wanting too strongly to live up to a warrior identity, I argue, can sometimes skew a soldier’s ability to assess risk rationally. This article will therefore investigate how a soldier’s concept of self influences his or her overall capacity to evaluate risk in war and when such influence might become morally problematic.