Purpose – China's resource allocation mechanism in education has become an important factor in determining residential access to educational resources. The purpose of this paper is to analyze the impacts made by the individual natures of buyers, the external environment, as well as the...

Purpose– China's resource allocation mechanism in education has become an important factor in determining residential access to educational resources. The purpose of this paper is to analyze the impacts made by the individual natures of buyers, the external environment, as well as the...

This paper studies the model risk; the risk of selecting a model for estimating the Value-at-Risk (VaR). By considering four GARCH-type volatility processes exponentially weighted moving average (EWMA), generalized autoregressive conditional heteroskedasticity (GARCH), exponential GARCH...

In this paper we propose a variant of the continuous-time Markowitz mean-variance model by incorporating the Earnings-at-Risk measure in the portfolio optimization problem. Under the Black-Scholes framework, we obtain closed-form expressions for the optimal constant-rebalanced portfolio (CRP)...

This review article provides an analytical and comprehensive overview of the literature with mathematically rigorous analysis, focusing on the patterns in transition economies, where optimal speed, suitable scale, and appropriate sequencing of reforms are debated in the filed of political...