Anhui University of Finance and Economics

About: Anhui University of Finance and Economics is a education organization based out in Bengbu, China. It is known for research contribution in the topics: China & Hopf bifurcation. The organization has 933 authors who have published 1070 publications receiving 11500 citations. The organization is also known as: AUFE.

Notice of Retraction Technological innovation and learning of industrial cluster as a complex adaptive system

Abstract: The objective of the paper is to provide a theoretical model of technological innovation and learning of industrial cluster as a complex adaptive system (CAS). It argues that a cluster is a CAS with a multi-level, multi-subsystem structure. In agent-and-layer modeling (ALM) given by authors, the various agents are initiative to adapt complex environments inside and outside the cluster, which exchange materials, information, technologies and values via the core network, support networks and external networks as well, and acquire knowledge and accumulate experiences from technological learning to form a dynamic, self-adaptive system. The paper examines the motivation for independent and interacting firms in clusters to learn technologies comes from seeking to increase and maximize their own revenues from technological learning. Entrepreneurs in the cluster CAS are driving force of innovation and learning in the whole process.

Valuing American options by least-squares randomized quasi-Monte Carlo methods

Abstract: Valuation of American options is a difficult and challenging problem encountered in financial engineering. Longstaff and Schwartz [Longstaff, FA and ES Schwartz (2001). Valuing American Options by Simulation: A Simple Least-squares Approach, Review of Financial Studies, 14(1), 113–147.] Proposed the least-squares Monte Carlo (LSM) method for valuing American options. As this approach is intuitive and easy to apply, it has received much attention in the finance literature. However, a drawback of the LSM method is the low efficiency. In order to overcome this problem, we propose the least-squares randomized quasi-Monte Carlo (LSRQM) methods which can be viewed as a use low-discrepancy sequences as a variance reduction technique in the LSM method for valuing American options in this paper. Numerical results demonstrate that our proposed LSRQM methods are more efficient than the LSM method in terms of the valuation accuracy, the computation time and the convergence rate.

Trade Effects of Standardization of Agricultural Products in China:Emprical Analysis Based on Gravity Model

Abstract: Although the standardization level of agricultural products in China has been substantially raised in recent years,which has been greatly promoting the development of China's agricultural trade,it still largely lags behind the developed countries,and this backward is the main reason for trade restrictions against our exports to developed countries,and prevents our government to use standardization as a measure of trade protection,just as the developed countries doAn empirical analysis based on gravity model verifies the perspective,then some advises of how to promote our export by raising the standardization level of agricultural products be given

Probability weighting functions obtained from Hong Kong index option market

Abstract: In this paper we estimate the pricing kernel from the Hong Kong index option market and obtain the empirical probability weighting functions based on the rank-dependent expected utility. Th...

New results on the stochastic Gilpin-Ayala model with delays

Abstract: In this paper, a stochastic Gilpin-Ayala model with delays is investigated. Some new sufficient conditions for the existence of positively global solution of the model are obtained. Moreover, some asymptotic behaviors of the model are discussed. It is significant that these results improve the previous work (Lian et al.(2006): Stochastic delay Gilpin-Ayala competition models, Stoch. Dyn. 6: 561-576).