We find the minimum probability of lifetime ruin of an investor who can invest in a market with a risky and a riskless asset and who can purchase a commutable life annuity. The surrender charge of a life annuity is a proportion of its value. Ruin occurs when the total of the value of the risky...

In this paper, we consider a family of recently-proposed measurement invariance tests that are based on the scores of a fitted model. This family can be used to test for measurement invariance w.r.t. a continuous auxiliary variable, without pre-specification of subgroups. Moreover, the family...

China's natural gas consumption is growing rapidly and it has being driven by economic growth, industrialization and urbanization. In addition, the country's low-carbon development strategy, government-controlled gas price, and some other factors also contribute to the surging gas consumption....

China has become a net importer of natural gas as a result of rapidly increasing consumption in recent years. A production peak would exist since natural gas is an exhaustible resource. As conventional natural gas production peak approaches, the development of unconventional natural gas is...

With the rapid growth of modern service economics and the popular adoption of web services, more and more service industries are beginning to deliver services with web service technology. One of the key issues is how the service consumer should search for services within the plentiful service...

We study pairwise entanglements in spin-half and spin-one Heisenberg chains with an open boundary condition, respectively. We find out that the ground-state and the first-excited-state entanglements are equal for the three-site spin-one chain. When the number of sites L3, the concurrences and...

The purpose of this paper is to reveal the relation between commutability of life annuities and retirees’ willingness to annuitize. To this end, we assume the existence of commutable life annuities, whose surrender charge is a proportion of their actuarial value. We model a retiree as a...

China's natural gas consumption has increased rapidly in recent years making China a net gas importer. As a nonrenewable energy, the gas resource is exhaustible. Based on the forecast of this article, China's gas production peak is likely to approach in 2022. However, China is currently in the...