As users’access to the network has evolved into the acquisition of mass contents instead of IP addresses,the IP network architecture based on end-to-end communication cannot meet users’needs.Therefore,the Informatio...As users’access to the network has evolved into the acquisition of mass contents instead of IP addresses,the IP network architecture based on end-to-end communication cannot meet users’needs.Therefore,the Information-Centric Networking(ICN)came into being.From a technical point of view,ICN is a promising future network architecture.Researching and customizing a reasonable pricing mechanism plays a positive role in promoting the deployment of ICN.The current research on ICN pricing mechanism is focused on paid content.Therefore,we study an ICN pricing model for free content,which uses game theory based on Nash equilibrium to analysis.In this work,advertisers are considered,and an advertiser model is established to describe the economic interaction between advertisers and ICN entities.This solution can formulate the best pricing strategy for all ICN entities and maximize the benefits of each entity.Our extensive analysis and numerical results show that the proposed pricing framework is significantly better than existing solutions when it comes to free content.展开更多
The actual circumstances of daily life are crucial for the purchasing and pricing strategies of supermarkets.Developing strategies based on these circumstances can assist businesses in ensuring profits and fostering w...The actual circumstances of daily life are crucial for the purchasing and pricing strategies of supermarkets.Developing strategies based on these circumstances can assist businesses in ensuring profits and fostering win-win cooperation.This paper explores methods to maximize profit through purchasing and sales strategies.Initially,the relevant data for various categories of vegetables is integrated.Through histograms,their sales patterns are directly understood,highlighting the most popular vegetables.Upon analyzing each vegetable category,it becomes evident that their sales data do not conform to normal distributions.Therefore,Spearman correlation coefficients are calculated,revealing strong correlations between certain categories,such as aquatic roots and edible fungi.A line chart depicting the top ten selling vegetables indicates a noticeable periodicity.Traditional fitting methods struggle to adequately model the sales of each vegetable category and their relationship with cost-plus pricing.To address this,additional factors such as holidays,weeks,and months are incorporated using techniques like random forest regression.This approach yields cost-plus pricing dependence curves that better capture the relationship,while effectively managing noise.Regarding sales volume prediction,the original data displays significant volatility,necessitating the handling of outliers using the threshold method.For missing data,linear interpolation is employed to mitigate the impact of continuous missing values on prediction accuracy.Subsequently,Adam-optimized long short-term memory(LSTM)networks are utilized to forecast incoming quantities for the next seven days.By extrapolating from normal sales volume,market capacity is estimated,allowing for additional sales through discount strategies.This framework has the potential to increase original income by 1.1 times.展开更多
In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely...In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely regarded as major challenges in this respect,which motivate this research on the novel multi-blockchain based framework for data trading markets and their associated pricing mechanisms.In this context,data recording and trading are conducted separately within two separate blockchains:the data blockchain(DChain) and the value blockchain(VChain).This enables the establishment of two-layer data trading markets to manage initial data trading in the primary market and subsequent data resales in the secondary market.Moreover,pricing mechanisms are then proposed to protect these markets against strategic trading behaviors and balance the payoffs of both suppliers and users.Specifically,in regular data trading on VChain-S2D,two auction models are employed according to the demand scale,for dealing with users’ strategic bidding.The incentive-compatible Vickrey-Clarke-Groves(VCG)model is deployed to the low-demand trading scenario,while the nearly incentive-compatible monopolistic price(MP) model is utilized for the high-demand trading scenario.With temporary data trading on VChain-D2S,a reverse auction mechanism namely two-stage obscure selection(TSOS) is designed to regulate both suppliers’ quoting and users’ valuation strategies.Furthermore,experiments are carried out to demonstrate the strength of this research in enhancing data security and trading efficiency.展开更多
Based on the Baa S model,a new energy vehicle supply chain game model composed of battery-swapping operators and vehicle manufacturers was constructed,and the corresponding optimal decisions of the supply chain member...Based on the Baa S model,a new energy vehicle supply chain game model composed of battery-swapping operators and vehicle manufacturers was constructed,and the corresponding optimal decisions of the supply chain members were obtained.The influence of related parameters on the equilibrium results was analyzed,and the Matlab was used for example analysis.The results show that:(1)The increase in the average consumer commuter mileage over the life of the vehicle can promote the increase in the demand for new energy vehicles and the profits of the supply chain members,which has a driving effect on the development of the battery swap industry.(2)Consumer sensitivity coefficient to the price of battery swap has a negative impact on battery-swapping price,new energy vehicle price,market demand for new energy vehicles,and profits of vehicle manufacturers and battery-swapping operators.展开更多
This paper develops a game-theory model for predatory pricing via in-depth analyses of three case studies:Brooke Group Ltd.v.Brown&Williamson Tobacco Corp.,Matsushita Electric Industries Co.v.Zenith Radio Corporat...This paper develops a game-theory model for predatory pricing via in-depth analyses of three case studies:Brooke Group Ltd.v.Brown&Williamson Tobacco Corp.,Matsushita Electric Industries Co.v.Zenith Radio Corporation,and AKZO Chemie BV v.Commission of the European Communities.This model is based on subsequent action game theory models and rational economics behavior,offering a chronological outline of the“predation”stages.It presents the predator’s decisions,the prey’s potential responses,possible loops,and the two distinctive outcomes.The analysis of the model in context of the three case studies demonstrates its practicality in assessing real-life predatory pricing scenarios and players’strategies.It’s flexibility also allows applications in related fields.Overall,this paper offers a comprehensive framework that bridges the gap between law,economics,and game theory in the study of predatory pricing,informing future research in this area.展开更多
The t-distribution has a “fat tail” feature, which is more suitable than the normal probability density function to describe the distribution characteristics of return on assets. The difficulty of using t-distributi...The t-distribution has a “fat tail” feature, which is more suitable than the normal probability density function to describe the distribution characteristics of return on assets. The difficulty of using t-distribution to price European options is that a fat tail can lead to a deviation in one integral required for option pricing. We use a distribution called logarithmic truncated t-distribution to price European options. A risk neutral valuation method was used to obtain a European option pricing model with logarithmic truncated t-distribution.展开更多
European compound option pricing model is established by using the mixed bifractional Brownian motion. Firstly, using the principle of risk-neutral pricing, the European option pricing formulas and the parity formulas...European compound option pricing model is established by using the mixed bifractional Brownian motion. Firstly, using the principle of risk-neutral pricing, the European option pricing formulas and the parity formulas are obtained. Secondly, with the Delta hedging strategy, the corresponding compound option pricing formulas and the parity formulas are got. Finally, using the daily closing price data of “Lingang B shares” and “Yitai B shares” respectively, the results show that the mixed model is closer to the true value than the previous model.展开更多
Objective To study the innovative drug pricing methods and medical insurance payment standards in foreign countries and to provide reference for China’s government.Methods The official websites were searched for info...Objective To study the innovative drug pricing methods and medical insurance payment standards in foreign countries and to provide reference for China’s government.Methods The official websites were searched for information and related literature,and literature review was used.Results and Conclusion In foreign countries,the clinical value of innovative drugs and their impact on medical insurance funds were comprehensively evaluated based on factors such as quality-adjusted life years,clinical benefit,and improvement of clinical benefit.Then,the evaluation results were taken as an important basis for whether innovative drugs were admitted to the medical insurance catalog and establishing medical insurance payment standards.By using international experience for reference,innovative drug pricing methods and medical insurance payment standards for China’s national conditions can be improved by establishing a basic database of clinical value and drug economic evaluation of innovative drugs,as well as innovative drug payment models based on decision thresholds.展开更多
将李群理论用于金融问题中出现的数学模型的微分方程,研究了Zero-Coupon bond pricing模型.求出了该模型的单参数李点对称及它相应的群伴随表达式,由此求得该模型允许的一维李群的子代数的最优系统并且利用最优系统构造该模型相应的微...将李群理论用于金融问题中出现的数学模型的微分方程,研究了Zero-Coupon bond pricing模型.求出了该模型的单参数李点对称及它相应的群伴随表达式,由此求得该模型允许的一维李群的子代数的最优系统并且利用最优系统构造该模型相应的微分方程的一些特殊的不同类的闭解.展开更多
A dynamic pricing model was established based on forecasting the demand for container handling of a specific shipping company to maximize terminal profits to solve terminal handling charges under the changing market e...A dynamic pricing model was established based on forecasting the demand for container handling of a specific shipping company to maximize terminal profits to solve terminal handling charges under the changing market environment.It assumes that container handling demand depends on the price and the unknown parameters in the demand model.The maximum quasi-likelihood estimation(MQLE)method is used to estimate the unknown parameters.Then an adaptive dynamic pricing policy algorithm is proposed.At the beginning of each period,through dynamic pricing,determining the optimal price relative to the estimation value of the current parameter and attach a constraint of differential price decision.Meanwhile,the accuracy of demand estimation and the optimality of price decisions are balanced.Finally,a case study is given based on the real data of Shanghai port.The results show that this pricing policy can make the handling price converge to the stable price and significantly increase this shipping company’s handling profit compared with the original“contractual pricing”mechanism.展开更多
Big data knowledge,such as customer demands and consumer preferences,is among the crucial external knowledge that firms need for new product development in the big data environment.Prior research has focused on the pr...Big data knowledge,such as customer demands and consumer preferences,is among the crucial external knowledge that firms need for new product development in the big data environment.Prior research has focused on the profit of big data knowledge providers rather than the profit and pricing schemes of knowledge recipients.This research addresses this theoretical gap and uses theoretical and numerical analysis to compare the profitability of two pricing schemes commonly used by knowledge recipients:subscription pricing and pay-per-use pricing.We find that:(1)the subscription price of big data knowledge has no effect on the optimal time of knowledge transaction in the same pricing scheme,but the usage ratio of the big data knowledge affects the optimal time of knowledge transaction,and the smaller the usage ratio of big data knowledge the earlier the big data knowledge transaction conducts;(2)big data knowledge with a higher update rate can bring greater profits to the firm both in subscription pricing scheme and pay-per-use pricing scheme;(3)a knowledge recipient will choose the knowledge that can bring a higher market share growth rate regardless of what price scheme it adopts,and firms can choose more efficient knowledge in the pay-per-use pricing scheme by adjusting the usage ratio of knowledge usage according to their economic conditions.The model and findings in this paper can help knowledge recipient firms select optimal pricing method and enhance future new product development performance.展开更多
In order to address the optimal distance toll design problem for cordon-based congestion pricing incorporating the issue of equity,this paper presents a toll user equilibrium( TUE) model based on a transformed network...In order to address the optimal distance toll design problem for cordon-based congestion pricing incorporating the issue of equity,this paper presents a toll user equilibrium( TUE) model based on a transformed network with elastic demand,to evaluate any given toll charge function. A bi-level programming model is developed for determining the optimal toll levels,with the TUE being represented at the lower level.The upper level optimizes the total equity level over the transport network,represented by the Gini coefficient,where a constraint is imposed to the total travel impedance of each OD pair after the levy. A genetic algorithm( GA) is implemented to solve the bi-level model,which is verified by a numerical example.展开更多
The two-way interaction between smart grid and customers will continuously play an important role in enhan-cing the overall efficiency of the green and low-carbon electric power industry and properly accommodating int...The two-way interaction between smart grid and customers will continuously play an important role in enhan-cing the overall efficiency of the green and low-carbon electric power industry and properly accommodating intermittent renewable energy resources.Thus far,the existing electricity pricing mechanisms hardly match the technical properties of smart grid;neither can they facilitate increasing end users participating in the electri-city market.In this paper,several relevant models and novel methods are proposed for pricing scheme design as well as to achieve optimal decision-makings for market participants,in which the mechanisms behind are com-patible with demand response operation of end users in the smart grid.The electric vehicles and prosumers are jointly considered by complying with the technical constraints and intrinsic economic interests.Based on the demand response of controllable loads,the real-time pricing,rewarding pricing and insurance pricing methods are proposed for the retailers and their bidding decisions for the wholesale market are also presented to increase the penetration level of renewable energy.The proposed demand response oriented electricity pricing scheme can provide some useful operational references on the cooperative operation of controllable loads and renewable energy through the feasible retail and wholesale market pricing methods,and thereby enhancing the development of the low-carbon energy system.展开更多
In recent years,the Internet of Things(IoT)technology has been widely used in the production and sales of tropical fruits,with strong practicability and wide application prospects.The tropical fruit dynamic pricing mo...In recent years,the Internet of Things(IoT)technology has been widely used in the production and sales of tropical fruits,with strong practicability and wide application prospects.The tropical fruit dynamic pricing model based on the IoT technology can promote the healthy development of the tropical fruit industry in Hainan and ensure the income of fruit farmers.Based on IoT technology,the quality grade of tropical fruits in Hainan is obtained.According to the dynamic pricing strategy of revenue management,a dynamic pricing model based on the quality of tropical fruits and a dynamic pricing model based on consumer segmentation are established to study the dynamic pricing problem under the condition of maximum profit for tropical fruit sellers.The research results show that for different fruit quality and consumer groups,different pricing models are required for pricing,in order to get the maximum profit from tropical fruit sales.Sellers must flexibly adopt different dynamic pricing models to price tropical fruits to enhance the competitiveness of the tropical fruit industry.展开更多
The study constructs a low-carbon path analysis model of China's power sector based on TIMES model and presents a comparative analysis of carbon emissions under Reference,Low-Carbon and Enhanced Low-Carbon scenari...The study constructs a low-carbon path analysis model of China's power sector based on TIMES model and presents a comparative analysis of carbon emissions under Reference,Low-Carbon and Enhanced Low-Carbon scenarios,and the main difference of the three scenarios is manifested by policy selection and policy strength.The conclusions are drawn as follows:(1)The peak of carbon emission in China's power sector will range from 4.0 GtCO2 to 4.8 GtCO2,which implies an increment of 0.5e1.3 billion or 14%e35%from the 2015 levels.(2)Introducing carbon price is an effective way to inhibit coal power and promote non-fossil fuels and Carbon Capture,Utilization and Storage applications(CCUS).The carbon emission reduction effects will gradually increase with carbon price.When the carbon price attains to CN￥150 t1CO2,the CO2 emission can decrease by 36%than that without carbon price.(3)CCUS is one of important contributing factor to reduce CO2 emission in power sector.Generally speaking,the development of non-fossil fuels and energy efficiency improvement are two main drivers for carbon mitigation,but once the carbon price reaches up to CN￥106 t 1CO2,the CCUS will be required to equip with thermal power units and its contribution on carbon emission reduction will remarkably increase.When carbon price increases to CN￥150 t1CO2 in 2050,the application of CCUS will account for 44%of total emission reduction.(4)In the scenario with carbon price of CN￥150 t1CO2,power sector would be decarbonized significantly,and the CO2 intensity will be 0.22 kgCO2(kW h)1,but power sector is far from the goal that achieving net zero emission.In order to realize the long-term low greenhouse gas emission development goal that proposed by the Paris Agreement,more efforts are needed to be put to further reduce the carbon emission reduction of power sector.Based on the above scenario analysis,the study proposes four recommendations on the low-carbon development of China's power sector:(1)improve the energy efficiency proactively and optimize the energy structure of power sector gradually;(2)promote the low-carbon transition of power sector by using market-based mechanism like carbon emission trading scheme to internalize the external cost of carbon emission;(3)give more emphasis on and support to the CCUS application in power sector.展开更多
This paper investigtes testable restrictious on tke thoe-series behavi0r of consumption and asset returns implicd by a representative agent model with the sPirit ofcaptalism in which intertemporal preference is repres...This paper investigtes testable restrictious on tke thoe-series behavi0r of consumption and asset returns implicd by a representative agent model with the sPirit ofcaptalism in which intertemporal preference is represented by a utility function that generalizes.conventional, time-additive, expected utility. In the recundve structure of preference,the author extalnes the lmplication for cosumptions, portfolio holdings, and stock-marketptices wken investors accumulate wealth not only for the sake of c0nsumption but alsofor wealth-induced social status. When investors care about relative sodal status, thepropensity to consume and risk-taking behavior wh depend on social standards, and stochprices will be volatible. Hence, the spirit of capitaliam seems to be a driving force behind stock-market volatility and economic growth. Because the elasticity of substitutionand the coefficient of relative risk averaiou are independent and the spirit of capitalism isintroduced, the equity prendum puzzle can be partially explained in the model.展开更多
The integration of the Internet of Vehicles(IoV)in future smart cities could help solve many traffic-related challenges,such as reducing traffic congestion and traffic accidents.Various congestion pricing and electric...The integration of the Internet of Vehicles(IoV)in future smart cities could help solve many traffic-related challenges,such as reducing traffic congestion and traffic accidents.Various congestion pricing and electric vehicle charging policies have been introduced in recent years.Nonetheless,the majority of these schemes emphasize penalizing the vehicles that opt to take the congested roads or charge in the crowded charging station and do not reward the vehicles that cooperate with the traffic management system.In this paper,we propose a novel dynamic traffic congestion pricing and electric vehicle charging management system for the internet of vehicles in an urban smart city environment.The proposed system rewards the drivers that opt to take alternative congested-free ways and congested-free charging stations.We propose a token management system that serves as a virtual currency,where the vehicles earn these tokens if they take alternative non-congested ways and charging stations and use the tokens to pay for the charging fees.The proposed system is designed for Vehicular Ad-hoc Networks(VANETs)in the context of a smart city environment without the need to set up any expensive toll collection stations.Through large-scale traffic simulation in different smart city scenarios,it is proved that the system can reduce the traffic congestion and the total charging time at the charging stations.展开更多
With the development of behavioral operational management, human behavior such as altruism, fairness and trust has received considerable attention. This paper studies the effect of altruism on retailer’s and manufact...With the development of behavioral operational management, human behavior such as altruism, fairness and trust has received considerable attention. This paper studies the effect of altruism on retailer’s and manufacturer’s pricing strategy in two classic dual-channel supply chains by presenting Stackelberg game models. The analysis shows that the player’s altruism preference strongly affects their pricing strategies. The more altruistic one player is, the more profits the other player obtains. Moreover, the effect of manufacturer’s altruistic preference is larger than that of retailer’s. In addition, online price is always lower than offline price in dual-channel supply chain, which still holds true considering altruism. The results also reveal that the product web-fit has significant effect on the player’s optimal pricing strategies. The more compatible with online market the product is, the lower the retail price is set, and the more profit the manufacturer obtains whereas the less the retailer gets.展开更多
A real-time pricing system of electricity is a system that charges different electricity prices for different hours of the day and for different days, and is effective for reducing the peak and flattening the load cur...A real-time pricing system of electricity is a system that charges different electricity prices for different hours of the day and for different days, and is effective for reducing the peak and flattening the load curve. In this paper, using a Markov decision process (MDP), we propose a modeling method and an optimal control method for real-time pricing systems. First, the outline of real-time pricing systems is explained. Next, a model of a set of customers is derived as a multi-agent MDP. Furthermore, the optimal control problem is formulated, and is reduced to a quadratic programming problem. Finally, a numerical simulation is presented.展开更多
Consensus theory and noncooperative game theory respectively deal with cooperative and noncooperative interactions among multiple players/agents. They provide a natural framework for road pricing design, since each mo...Consensus theory and noncooperative game theory respectively deal with cooperative and noncooperative interactions among multiple players/agents. They provide a natural framework for road pricing design, since each motorist may myopically optimize his or her own utility as a function of road price and collectively communicate with his or her friends and neighbors on traffic situation at the same time. This paper considers the road pricing design by using game theory and consensus theory. For the case where a system supervisor broadcasts information on the overall system to each agent, we present a variant of standard fictitious play called average strategy fictitious play(ASFP) for large-scale repeated congestion games.Only a weighted running average of all other players actions is assumed to be available to each player. The ASFP reduces the burden of both information gathering and information processing for each player. Compared to the joint strategy fictitious play(JSFP) studied in the literature, the updating process of utility functions for each player is avoided. We prove that there exists at least one pure strategy Nash equilibrium for the congestion game under investigation, and the players actions generated by the ASFP with inertia(players reluctance to change their previous actions) converge to a Nash equilibrium almost surely. For the case without broadcasting, a consensus protocol is introduced for individual agents to estimate the percentage of players choosing each resource, and the convergence property of players action profile is still ensured. The results are applied to road pricing design to achieve socially local optimal trip timing. Simulation results are provided based on the real traffic data for the Singapore case study.展开更多
基金supported by the Key R&D Program of Anhui Province in 2020 under Grant No.202004a05020078China Environment for Network Innovations(CENI)under Grant No.2016-000052-73-01-000515.
文摘As users’access to the network has evolved into the acquisition of mass contents instead of IP addresses,the IP network architecture based on end-to-end communication cannot meet users’needs.Therefore,the Information-Centric Networking(ICN)came into being.From a technical point of view,ICN is a promising future network architecture.Researching and customizing a reasonable pricing mechanism plays a positive role in promoting the deployment of ICN.The current research on ICN pricing mechanism is focused on paid content.Therefore,we study an ICN pricing model for free content,which uses game theory based on Nash equilibrium to analysis.In this work,advertisers are considered,and an advertiser model is established to describe the economic interaction between advertisers and ICN entities.This solution can formulate the best pricing strategy for all ICN entities and maximize the benefits of each entity.Our extensive analysis and numerical results show that the proposed pricing framework is significantly better than existing solutions when it comes to free content.
文摘The actual circumstances of daily life are crucial for the purchasing and pricing strategies of supermarkets.Developing strategies based on these circumstances can assist businesses in ensuring profits and fostering win-win cooperation.This paper explores methods to maximize profit through purchasing and sales strategies.Initially,the relevant data for various categories of vegetables is integrated.Through histograms,their sales patterns are directly understood,highlighting the most popular vegetables.Upon analyzing each vegetable category,it becomes evident that their sales data do not conform to normal distributions.Therefore,Spearman correlation coefficients are calculated,revealing strong correlations between certain categories,such as aquatic roots and edible fungi.A line chart depicting the top ten selling vegetables indicates a noticeable periodicity.Traditional fitting methods struggle to adequately model the sales of each vegetable category and their relationship with cost-plus pricing.To address this,additional factors such as holidays,weeks,and months are incorporated using techniques like random forest regression.This approach yields cost-plus pricing dependence curves that better capture the relationship,while effectively managing noise.Regarding sales volume prediction,the original data displays significant volatility,necessitating the handling of outliers using the threshold method.For missing data,linear interpolation is employed to mitigate the impact of continuous missing values on prediction accuracy.Subsequently,Adam-optimized long short-term memory(LSTM)networks are utilized to forecast incoming quantities for the next seven days.By extrapolating from normal sales volume,market capacity is estimated,allowing for additional sales through discount strategies.This framework has the potential to increase original income by 1.1 times.
基金partially supported by the Science and Technology Development Fund,Macao SAR (0050/2020/A1)the National Natural Science Foundation of China (62103411, 72171230)。
文摘In the era of big data,there is an urgent need to establish data trading markets for effectively releasing the tremendous value of the drastically explosive data.Data security and data pricing,however,are still widely regarded as major challenges in this respect,which motivate this research on the novel multi-blockchain based framework for data trading markets and their associated pricing mechanisms.In this context,data recording and trading are conducted separately within two separate blockchains:the data blockchain(DChain) and the value blockchain(VChain).This enables the establishment of two-layer data trading markets to manage initial data trading in the primary market and subsequent data resales in the secondary market.Moreover,pricing mechanisms are then proposed to protect these markets against strategic trading behaviors and balance the payoffs of both suppliers and users.Specifically,in regular data trading on VChain-S2D,two auction models are employed according to the demand scale,for dealing with users’ strategic bidding.The incentive-compatible Vickrey-Clarke-Groves(VCG)model is deployed to the low-demand trading scenario,while the nearly incentive-compatible monopolistic price(MP) model is utilized for the high-demand trading scenario.With temporary data trading on VChain-D2S,a reverse auction mechanism namely two-stage obscure selection(TSOS) is designed to regulate both suppliers’ quoting and users’ valuation strategies.Furthermore,experiments are carried out to demonstrate the strength of this research in enhancing data security and trading efficiency.
基金supported by the National Natural Science Foundation of China(Grant No.72161003)。
文摘Based on the Baa S model,a new energy vehicle supply chain game model composed of battery-swapping operators and vehicle manufacturers was constructed,and the corresponding optimal decisions of the supply chain members were obtained.The influence of related parameters on the equilibrium results was analyzed,and the Matlab was used for example analysis.The results show that:(1)The increase in the average consumer commuter mileage over the life of the vehicle can promote the increase in the demand for new energy vehicles and the profits of the supply chain members,which has a driving effect on the development of the battery swap industry.(2)Consumer sensitivity coefficient to the price of battery swap has a negative impact on battery-swapping price,new energy vehicle price,market demand for new energy vehicles,and profits of vehicle manufacturers and battery-swapping operators.
文摘This paper develops a game-theory model for predatory pricing via in-depth analyses of three case studies:Brooke Group Ltd.v.Brown&Williamson Tobacco Corp.,Matsushita Electric Industries Co.v.Zenith Radio Corporation,and AKZO Chemie BV v.Commission of the European Communities.This model is based on subsequent action game theory models and rational economics behavior,offering a chronological outline of the“predation”stages.It presents the predator’s decisions,the prey’s potential responses,possible loops,and the two distinctive outcomes.The analysis of the model in context of the three case studies demonstrates its practicality in assessing real-life predatory pricing scenarios and players’strategies.It’s flexibility also allows applications in related fields.Overall,this paper offers a comprehensive framework that bridges the gap between law,economics,and game theory in the study of predatory pricing,informing future research in this area.
文摘The t-distribution has a “fat tail” feature, which is more suitable than the normal probability density function to describe the distribution characteristics of return on assets. The difficulty of using t-distribution to price European options is that a fat tail can lead to a deviation in one integral required for option pricing. We use a distribution called logarithmic truncated t-distribution to price European options. A risk neutral valuation method was used to obtain a European option pricing model with logarithmic truncated t-distribution.
文摘European compound option pricing model is established by using the mixed bifractional Brownian motion. Firstly, using the principle of risk-neutral pricing, the European option pricing formulas and the parity formulas are obtained. Secondly, with the Delta hedging strategy, the corresponding compound option pricing formulas and the parity formulas are got. Finally, using the daily closing price data of “Lingang B shares” and “Yitai B shares” respectively, the results show that the mixed model is closer to the true value than the previous model.
文摘Objective To study the innovative drug pricing methods and medical insurance payment standards in foreign countries and to provide reference for China’s government.Methods The official websites were searched for information and related literature,and literature review was used.Results and Conclusion In foreign countries,the clinical value of innovative drugs and their impact on medical insurance funds were comprehensively evaluated based on factors such as quality-adjusted life years,clinical benefit,and improvement of clinical benefit.Then,the evaluation results were taken as an important basis for whether innovative drugs were admitted to the medical insurance catalog and establishing medical insurance payment standards.By using international experience for reference,innovative drug pricing methods and medical insurance payment standards for China’s national conditions can be improved by establishing a basic database of clinical value and drug economic evaluation of innovative drugs,as well as innovative drug payment models based on decision thresholds.
文摘A dynamic pricing model was established based on forecasting the demand for container handling of a specific shipping company to maximize terminal profits to solve terminal handling charges under the changing market environment.It assumes that container handling demand depends on the price and the unknown parameters in the demand model.The maximum quasi-likelihood estimation(MQLE)method is used to estimate the unknown parameters.Then an adaptive dynamic pricing policy algorithm is proposed.At the beginning of each period,through dynamic pricing,determining the optimal price relative to the estimation value of the current parameter and attach a constraint of differential price decision.Meanwhile,the accuracy of demand estimation and the optimality of price decisions are balanced.Finally,a case study is given based on the real data of Shanghai port.The results show that this pricing policy can make the handling price converge to the stable price and significantly increase this shipping company’s handling profit compared with the original“contractual pricing”mechanism.
基金This research was funded by(the National Natural Science Foundation of China)Grant Number(71704016),(the Key Scientific Research Fund of Hunan Provincial Education Department of China)Grant Number(19A006),and(the Enterprise Strategic Management and Investment Decision Research Base of Hunan Province)Grant Number(19qyzd03).
文摘Big data knowledge,such as customer demands and consumer preferences,is among the crucial external knowledge that firms need for new product development in the big data environment.Prior research has focused on the profit of big data knowledge providers rather than the profit and pricing schemes of knowledge recipients.This research addresses this theoretical gap and uses theoretical and numerical analysis to compare the profitability of two pricing schemes commonly used by knowledge recipients:subscription pricing and pay-per-use pricing.We find that:(1)the subscription price of big data knowledge has no effect on the optimal time of knowledge transaction in the same pricing scheme,but the usage ratio of the big data knowledge affects the optimal time of knowledge transaction,and the smaller the usage ratio of big data knowledge the earlier the big data knowledge transaction conducts;(2)big data knowledge with a higher update rate can bring greater profits to the firm both in subscription pricing scheme and pay-per-use pricing scheme;(3)a knowledge recipient will choose the knowledge that can bring a higher market share growth rate regardless of what price scheme it adopts,and firms can choose more efficient knowledge in the pay-per-use pricing scheme by adjusting the usage ratio of knowledge usage according to their economic conditions.The model and findings in this paper can help knowledge recipient firms select optimal pricing method and enhance future new product development performance.
基金Sponsored by the National Natural Science Foundation of China(Grant No.61374195 and 71501038)the Fundamental Research Funds for the Central Universities(Grant No.2242015R30036)the Natural Science Foundation of Jiangsu Province in China(Grant No.BK20150603)
文摘In order to address the optimal distance toll design problem for cordon-based congestion pricing incorporating the issue of equity,this paper presents a toll user equilibrium( TUE) model based on a transformed network with elastic demand,to evaluate any given toll charge function. A bi-level programming model is developed for determining the optimal toll levels,with the TUE being represented at the lower level.The upper level optimizes the total equity level over the transport network,represented by the Gini coefficient,where a constraint is imposed to the total travel impedance of each OD pair after the levy. A genetic algorithm( GA) is implemented to solve the bi-level model,which is verified by a numerical example.
基金funded by the National Natural Science Foundation of China(71931003)the Science and Technology Projects of Hunan Province and Changsha City(2018GK4002,2019CT5001,2019WK2011,2019GK5015,kq1907086).
文摘The two-way interaction between smart grid and customers will continuously play an important role in enhan-cing the overall efficiency of the green and low-carbon electric power industry and properly accommodating intermittent renewable energy resources.Thus far,the existing electricity pricing mechanisms hardly match the technical properties of smart grid;neither can they facilitate increasing end users participating in the electri-city market.In this paper,several relevant models and novel methods are proposed for pricing scheme design as well as to achieve optimal decision-makings for market participants,in which the mechanisms behind are com-patible with demand response operation of end users in the smart grid.The electric vehicles and prosumers are jointly considered by complying with the technical constraints and intrinsic economic interests.Based on the demand response of controllable loads,the real-time pricing,rewarding pricing and insurance pricing methods are proposed for the retailers and their bidding decisions for the wholesale market are also presented to increase the penetration level of renewable energy.The proposed demand response oriented electricity pricing scheme can provide some useful operational references on the cooperative operation of controllable loads and renewable energy through the feasible retail and wholesale market pricing methods,and thereby enhancing the development of the low-carbon energy system.
基金Central Public-interest Scientific Institution Basal Research Fund for Chinese Academy of Tropical Agricultural Sciences(1630062019003,19CXTD-31)Youth Foundation of Natural Science Foundation of Hainan Province(719QN282).
文摘In recent years,the Internet of Things(IoT)technology has been widely used in the production and sales of tropical fruits,with strong practicability and wide application prospects.The tropical fruit dynamic pricing model based on the IoT technology can promote the healthy development of the tropical fruit industry in Hainan and ensure the income of fruit farmers.Based on IoT technology,the quality grade of tropical fruits in Hainan is obtained.According to the dynamic pricing strategy of revenue management,a dynamic pricing model based on the quality of tropical fruits and a dynamic pricing model based on consumer segmentation are established to study the dynamic pricing problem under the condition of maximum profit for tropical fruit sellers.The research results show that for different fruit quality and consumer groups,different pricing models are required for pricing,in order to get the maximum profit from tropical fruit sales.Sellers must flexibly adopt different dynamic pricing models to price tropical fruits to enhance the competitiveness of the tropical fruit industry.
文摘The study constructs a low-carbon path analysis model of China's power sector based on TIMES model and presents a comparative analysis of carbon emissions under Reference,Low-Carbon and Enhanced Low-Carbon scenarios,and the main difference of the three scenarios is manifested by policy selection and policy strength.The conclusions are drawn as follows:(1)The peak of carbon emission in China's power sector will range from 4.0 GtCO2 to 4.8 GtCO2,which implies an increment of 0.5e1.3 billion or 14%e35%from the 2015 levels.(2)Introducing carbon price is an effective way to inhibit coal power and promote non-fossil fuels and Carbon Capture,Utilization and Storage applications(CCUS).The carbon emission reduction effects will gradually increase with carbon price.When the carbon price attains to CN￥150 t1CO2,the CO2 emission can decrease by 36%than that without carbon price.(3)CCUS is one of important contributing factor to reduce CO2 emission in power sector.Generally speaking,the development of non-fossil fuels and energy efficiency improvement are two main drivers for carbon mitigation,but once the carbon price reaches up to CN￥106 t 1CO2,the CCUS will be required to equip with thermal power units and its contribution on carbon emission reduction will remarkably increase.When carbon price increases to CN￥150 t1CO2 in 2050,the application of CCUS will account for 44%of total emission reduction.(4)In the scenario with carbon price of CN￥150 t1CO2,power sector would be decarbonized significantly,and the CO2 intensity will be 0.22 kgCO2(kW h)1,but power sector is far from the goal that achieving net zero emission.In order to realize the long-term low greenhouse gas emission development goal that proposed by the Paris Agreement,more efforts are needed to be put to further reduce the carbon emission reduction of power sector.Based on the above scenario analysis,the study proposes four recommendations on the low-carbon development of China's power sector:(1)improve the energy efficiency proactively and optimize the energy structure of power sector gradually;(2)promote the low-carbon transition of power sector by using market-based mechanism like carbon emission trading scheme to internalize the external cost of carbon emission;(3)give more emphasis on and support to the CCUS application in power sector.
文摘This paper investigtes testable restrictious on tke thoe-series behavi0r of consumption and asset returns implicd by a representative agent model with the sPirit ofcaptalism in which intertemporal preference is represented by a utility function that generalizes.conventional, time-additive, expected utility. In the recundve structure of preference,the author extalnes the lmplication for cosumptions, portfolio holdings, and stock-marketptices wken investors accumulate wealth not only for the sake of c0nsumption but alsofor wealth-induced social status. When investors care about relative sodal status, thepropensity to consume and risk-taking behavior wh depend on social standards, and stochprices will be volatible. Hence, the spirit of capitaliam seems to be a driving force behind stock-market volatility and economic growth. Because the elasticity of substitutionand the coefficient of relative risk averaiou are independent and the spirit of capitalism isintroduced, the equity prendum puzzle can be partially explained in the model.
基金supported by the Fundamental Research Funds for Central Universities of China(No.FRF-GF-18-009B,No.FRF-BD-18-001A)the 111 Project(Grant No.B12012).
文摘The integration of the Internet of Vehicles(IoV)in future smart cities could help solve many traffic-related challenges,such as reducing traffic congestion and traffic accidents.Various congestion pricing and electric vehicle charging policies have been introduced in recent years.Nonetheless,the majority of these schemes emphasize penalizing the vehicles that opt to take the congested roads or charge in the crowded charging station and do not reward the vehicles that cooperate with the traffic management system.In this paper,we propose a novel dynamic traffic congestion pricing and electric vehicle charging management system for the internet of vehicles in an urban smart city environment.The proposed system rewards the drivers that opt to take alternative congested-free ways and congested-free charging stations.We propose a token management system that serves as a virtual currency,where the vehicles earn these tokens if they take alternative non-congested ways and charging stations and use the tokens to pay for the charging fees.The proposed system is designed for Vehicular Ad-hoc Networks(VANETs)in the context of a smart city environment without the need to set up any expensive toll collection stations.Through large-scale traffic simulation in different smart city scenarios,it is proved that the system can reduce the traffic congestion and the total charging time at the charging stations.
文摘With the development of behavioral operational management, human behavior such as altruism, fairness and trust has received considerable attention. This paper studies the effect of altruism on retailer’s and manufacturer’s pricing strategy in two classic dual-channel supply chains by presenting Stackelberg game models. The analysis shows that the player’s altruism preference strongly affects their pricing strategies. The more altruistic one player is, the more profits the other player obtains. Moreover, the effect of manufacturer’s altruistic preference is larger than that of retailer’s. In addition, online price is always lower than offline price in dual-channel supply chain, which still holds true considering altruism. The results also reveal that the product web-fit has significant effect on the player’s optimal pricing strategies. The more compatible with online market the product is, the lower the retail price is set, and the more profit the manufacturer obtains whereas the less the retailer gets.
文摘A real-time pricing system of electricity is a system that charges different electricity prices for different hours of the day and for different days, and is effective for reducing the peak and flattening the load curve. In this paper, using a Markov decision process (MDP), we propose a modeling method and an optimal control method for real-time pricing systems. First, the outline of real-time pricing systems is explained. Next, a model of a set of customers is derived as a multi-agent MDP. Furthermore, the optimal control problem is formulated, and is reduced to a quadratic programming problem. Finally, a numerical simulation is presented.
文摘Consensus theory and noncooperative game theory respectively deal with cooperative and noncooperative interactions among multiple players/agents. They provide a natural framework for road pricing design, since each motorist may myopically optimize his or her own utility as a function of road price and collectively communicate with his or her friends and neighbors on traffic situation at the same time. This paper considers the road pricing design by using game theory and consensus theory. For the case where a system supervisor broadcasts information on the overall system to each agent, we present a variant of standard fictitious play called average strategy fictitious play(ASFP) for large-scale repeated congestion games.Only a weighted running average of all other players actions is assumed to be available to each player. The ASFP reduces the burden of both information gathering and information processing for each player. Compared to the joint strategy fictitious play(JSFP) studied in the literature, the updating process of utility functions for each player is avoided. We prove that there exists at least one pure strategy Nash equilibrium for the congestion game under investigation, and the players actions generated by the ASFP with inertia(players reluctance to change their previous actions) converge to a Nash equilibrium almost surely. For the case without broadcasting, a consensus protocol is introduced for individual agents to estimate the percentage of players choosing each resource, and the convergence property of players action profile is still ensured. The results are applied to road pricing design to achieve socially local optimal trip timing. Simulation results are provided based on the real traffic data for the Singapore case study.
