In this paper, we study an insurer’s optimal time-consistent strategies under the mean–variance criterion with state dependent risk aversion. It is assumed that the surplus process is approximated by a diffusion process. The insurer can purchase proportional reinsurance and invest in a...

Since 1979, China has been undergoing price reforms. Up to 1987, the price reforms can be divided into two periods: The first period, 1979-84, concentrated on price adjustments, and the second period, 1984-87, dealt with price development or the enlargement of the price differential. These...

In this article, we consider a classic dynamic inventory control problem of a self-financing retailer who periodically replenishes its stock from a supplier and sells it to the market. The replenishment decisions of the retailer are constrained by cash flow, which is updated periodically...

Using the daily data of Chinese 7-day repo rates from January 1, 1997 to December 31, 2008, this paper tests a variety of popular spot rate models, including single-factor diffusion, GARCH, Markov regime-switching and jump-diffusion models. We document that Chinese spot rates are subject to both...

Based on the questionnaire survey, this paper analyzes China’s public perception of climate change in terms of several influence factors and some empirical findings are obtained. We find that some respondents are willing to take individual actions to address climate change, and they pay more...

A production control system (PCS) can be considered an information-processing organization (IPO). The performance of different production control systems has been studied intensively. However, their decision-making efficiency has not drawn much attention. The amount of information in a...

We explore buyback contracts in a supplier–retailer supply chain where the retailer faces a price-dependent downward-sloping demand curve subject to uncertainty. Differentiated from the existing literature, this work focuses on analytically examining how the uncertainty level embedded in...

The emergence of B2B spot markets has greatly facilitated spot trading and impacted supply chain structures as well as the way commercial transactions take place between firms in many industries. While providing new opportunities, the B2B spot market also exposes participants to a price risk....