简介：Exercise-pricepolicyisperhapsthecentraldesignissueregardingnontradableExecutiveStockOptions(ESO).Inthispaper,wegivethevaluelineofESO,V(P),andtherangeoftheincentive-maximizingexercisepriceswhichisdefinedastheexercisepricesthatgenerateincentives,εn(P)/εP,within1percentofthemaximumusingthe“certaintyequivalence”approach,similartothatadoptedbyRichardLambertetal..Ourresultsshowthat,holdingconstantthecompany'scostofmakinganoptiongrant,incentivesaremaximizedbysettingexercisepriceswithinarangethattypicallyincludesthegrant-datemarketprice.

简介：Thispaperdealswiththeissueofprioritysettinginhealthcareunderuncertaintiesabouttheseverityoftheillnessandtheeffectivenessofmedicaltreatment.Weexaminetheeffectofadiseaseuncertainty(atreatmentuncertainty)ontheallocationofhealthcareresourcesinthepresenceofatreatmentrisk(adiseaserisk)andidentifypreferenceconditionsunderwhichthesocialplannerallocatesmoreresourcestohigherriskpopulation.Weallowforthesimultaneouspresenceoftworisksandinvestigatethejointeffectoftwo-sourceuncertaintiesonhealthcareallocationwhenthetworisksareeithersmallorpositivelyquadrantdependent.Theeffectofinequalityaversiononhealthcareallocationisalsoanalyzedbyintroducinganequityweightingfunction.Ourworkextendsthepreviousmodelofhealthcareprioritytotwo-riskframeworkandprovidesnewinsightsintotheproblemofhealthcaredecisionmakingunderuncertainty.

简介：Weconsideranewsvendorproblemwithprice-dependentdemand,ineitheradditiveormultiplicativeformat.Thenewsvendorhastwomodesofpurchasing:regularorderingatthebeginningofthesellingseasonandemergencyordering(iftherealizeddemandexceedstheinitialorderquantity)attheendofthesellingseason.Bystochasticcomparisons,wesystematicallyinvestigatetheeffectsofdemandmagnitudeanddemandrandomnessonpricingandorderingquantitydecisionsaswellasexpectedprofitofthenewsvendor,underbothusualstochasticorder(firstorderstochasticdominance)andconvexorder(lessvariable).Ourkeyfindingsinclude:(i)incontrarytothecasewherepriceisexogenous,astochasticallylargerdemandshockmayevenleadtoalowerorderquantity;(ii)astochasticallylargerdemandshockleadstoahigherpricefortheadditivedemandcase,butmayleadtoalowerpriceforthemultiplicativedemandcase;(iii)astochasticallylargerdemandshockleadstoahigherexpectedprofitforbothdemandmodels;(iv)ingeneral,alessvariabledemandleadstoahigherexpectedprofitforbothdemandmodels;andfurthermore,alessvariabledemandshockhasnoeffectonpricefortheadditivedemandmodel,butleadstoahigherpriceforthemultiplicativedemandmodel.Theimplicationsofallthesefindingsforpricingandorderquantityarediscussedindetail.

简介：当内在的分发是非正常的时，这研究提供目标花费扩大它的原来的范围的一个框架。新说明限制能被从Taguchi损失功能听市场价格导出。后来，新说明限制能与控制制定导出目标控制限制的non-normality-based-R一起通过non-normality-basedpK价值被连接。而且，一个例子被提供说明目标由无情地减少费用花费的建议框架的实用性；改善产品质量将在市场获得竞争力。

简介：setting是西方文物保护界使用较频繁的专业术语,但由于东西方文化以及语言文字之间的差异,其中文名一直以来难以准确认定。因此,有必要从英文语境以及概念凝练过程研究setting,析理其内在底蕴和含义,以探讨中文语境下的贴切译词。setting通常多与人类的主观活动相关,不仅限于表达“环境”之义,以复合名词“背景环境”作为术语setting的中文译词,可以较大程度地还原setting的多层次含义。

简介：Inthispaper,weconsideranewsvendormodelinwhicharisk-aversemanagerfacesastochasticprice-dependentdemandineitheranadditiveoramultiplicativeform.Anemergencypurchaseoptionisallowedaftertherealizationofdemandtosatisfytheunitsthatareshort.Byadoptingconditionalvalue-at-risk(CVaR)asthedecisioncriterion,weaimtoinvestigatetheoptimalpricingandorderingdecisions,andtheeffectsofparameterchangesinsuchasetting.Weprovidesufficientconditionsfortheuniquenessoftheoptimalpolicyforbothdemandmodels.Weperformcomparativestaticsanalysistoshowhowtheoptimalpricingandorderingdecisionbehaveswhenchangingparameters.WealsocompareourresultswiththoseofthenewsvendorwithageneralutilityfunctionandwithCVaRcriterionunderlostsalesassumption.Ourkeyresultsinclude:(i)Forbothdemandmodels,theoptimalsellingpriceisdecreasinginriskaversion.Hence,theoptimalpriceofarisk-aversenewsvendorisnotgreaterthantheoptimalpriceofarisk-neutralnewsvendor.(ii)Incontrarytothelostsalescase,forthemultiplicativedemandmodel,theoptimalorderquantitymaynotbemonotonicinriskaversion.Consequently,theoptimalrisk-averseorderquantitymaybelowerorhigherthantheoptimalrisk-neutralcounterpart.(iii)Fortheadditivemodel,theoptimalorderquantityisstrictlyincreasingintheemergencypurchaseprice,whileforthemultiplicativemodeltheoptimalorderquantityhasnosuchamonotonicproperty.Somenumericalexamplesareconductedtoverifyourclaimsandgainmoreinsightsabouttherisk-aversedecision-makingbehaviors.