According to a recent inventory of the International Energy Agency (IEA),China is now the world’s largest source of energy related carbon dioxide (CO2) emissions. Excessive CO2 emissions in China not only contribute to global climate change, but also endanger the lives of countless citizens...

Administration service centers (ASCs) are the beginning of the one-stop service in Chinese government besides electronic government. The purpose of this paper is to provide a practice report and a theoretical analysis of such an organisational innovation in public service. The methodologies are...

Administration service centers (ASCs) are the beginning of the one-stop service in Chinese government besides electronic government. The purpose of this paper is to provide a practice report and a theoretical analysis of such an organisational innovation in public service. The methodologies are...

This paper extends the work of Yuen et al. (2013), who obtained explicit results for the discount-free Gerber-Shiu function for a compound binomial risk model in the presence of delayed claims and a randomized dividend strategy with a zero threshold level. Specifically, we establish a recursion...

Recently, there has been a lot of interest in modelling real data with a heavy-tailed distribution. A popular candidate is the so-called generalized autoregressive conditional heteroscedastic (GARCH) model. Unfortunately, the tails of GARCH models are not thick enough in some applications. In...

In this paper, we consider a robust optimal reinsurance problem with dependent risks for an ambiguity-averse/loving insurer to minimize the probability of absolute ruin involving the penalization of model ambiguity. Instead of the extreme ambiguity aversion towards one line of insurance business...

In this paper, we study the optimal investment and proportional reinsurance strategy when an insurance company wishes to maximize the expected exponential utility of the terminal wealth. It is assumed that the instantaneous rate of investment return follows an Ornstein-Uhlenbeck process. Using...

The constrained estimation in Cox’s model for the right-censored survival data is studied and the asymptotic properties of the constrained estimators are derived by using the Lagrangian method based on Karush–Kuhn–Tucker conditions. A novel minorization–maximization (MM) algorithm is...

Recently, Ng et al. (2009) studied a new family of distributions, namely the nested Dirichlet distributions. This family includes the traditional Dirichlet distribution as a special member and can be adopted to analyze incomplete categorical data. However, other important aspects of the...