Conventional theory for private information of adverse selection predicts a positive correlation between insurance coverage and ex post risk. This paper shows the opposite in the life insurance market despite the clear evidence of private information on mortality risk. The reason for this...

This paper addresses a multiagent-based distributed load shedding scheme to restore frequency for the microgrids during islanded operation. The objective of the proposed scheme is to realize a distributed load shedding considering its associated cost and the capacity of the flexible loads. There...

The gas engine-driven heat pump (GEHP), which has been considered as a preferable choice in the heating and air-conditioning scheme can make full use of the waste heat from the engine and achieve a higher primary energy ratio (PER) than other forms of heating/cooling systems. In this paper, the...

HCFC-22, widely used in variety of refrigerating/heating equipment, has been scheduled to be phased out by Montreal Protocol. This decision will result in significant reduction of ozone depletion and global warming, holding on the climate benefits accrued so far. In this paper, significant...

This paper documents different timeliness in disseminating sanction and enforcement information (SEI) by two types of regulatory agencies in China and the different consequences that flow from them. The China Securities Regulatory Commission (CSRC) does not make timely public disclosures of SEI...

The Enron/Arthur Andersen scandal has raised concerns internationally about auditor independence, audit quality, and the need for regulatory action such as mandatory auditor rotation. China's unique institutional features provide a setting in which we can compare comprehensively the various...

The volatility of wind power poses great challenges to the operation of power systems. This paper deals with the economic dispatch problems presented by energy storage in wind integrated systems. A policy iteration algorithm for deriving the cost optimal policy of real-time scheduling is...

The LFL (lower flammable limit) and UFL (upper flammable limit) of R1150 were researched experimentally on a self-made test rig according to the Chinese National Standard GB/T12474 under variable temperature and humidity conditions. Results showed that the LFL increased with the decrease of...

An experimental thermophotovoltaic (TPV) system with a cylindrical-geometry radiator was established to test the output performances of modules under different conditions. The results demonstrate that the output performance of a cell module decreases when the combustion power increases because...