The rejection of cointegration between the two stock market indicators supports this conjecture. The profits generated by this cheaply replicable trading scheme cannot be expected to persist. Therefore we forecast the averages using autoregressive linear and neural network models to gain a competitive advantage relative to other investors.
With the establishment of carbon emissions trading market in China, the power industry has become an important part of the market participants. The power grid enterprises need to optimize their own strategies in the new environment of electricity market and carbon market coordination. First, the influence of electricity and carbon trading coordination on electricity purchase strategy for grid enterprises was analysed in the paper. Then a power purchase optimization model was presented, which used the minimum cost of low carbon, energy saving and environment protection as the goal, the power generation capacity, installed capacity and pollutant emission as the constraints.
Finally, a provincial power grid was taken as an example to analyse the model, and the optimization order of power purchase was obtained, which provided a new idea for the low carbon development of power grid enterprises. Trade liberalization and tax reform strategies : The case of the Korean oil industry.
The decline in government revenues due to tariff reductions has become a major concern for most developing countries, including Korea.
This paper focuses on the Korean oil industry to examine which post- trade liberalization tax reform strategy is optimal , depending on the government's priority between social welfare and government revenue. We find that the important factors for choosing an optimal tax reform policy are price elasticity of demand and market competition. Based on a price-inelastic demand and the low competitive market for Korea's oil industry, if the goal of a tax reform policy is to increase social welfare, the recommended strategy is to raise the consumption tax by a scale of less than the sum of tariff cuts times the crude oil price and oil import tax cuts.
This strategy would also reduce inflation, but it could be detrimental to government revenue. However, if the policy's goal is the preservation of government revenue, the recommended strategy is to raise the consumption tax by a scale equal to the sum of tariff cuts times the crude oil price at the pre-tax reform and oil import tax cuts. This strategy does not change either government revenue or social welfare. This paper proposes a methodology to address the trading strategies of a proactive distribution company PDISCO engaged in the transmission-level TL markets.
A one-leader multi-follower bilevel model is presented to formulate the gaming framework between the PDISCO and markets. The lower Persuasion involves face-threatening acts FTAs , thus politeness strategies which are applied to reduce face-threatening are combined with persuasive communication. I argue that an important reason why ASEAN states participate in PTAs has been to diversify existing trade ties and to reduce overdependence on a narrow range of export markets.
To maximise the economic gains and the diversification effects of PTA participation, ASEAN countries have pursued a strategy of strengthening economic unity while keeping external economic linkages as diversified as possible. Trading strategies in the overnight money market: Correlations and clustering on the e-MID trading platform. We analyze the correlations in patterns of trading for members of the Italian interbank trading platform e-MID. The trading strategy of a particular member institution is defined as the sequence of intra- daily net trading volumes within a certain semester.
In most semesters we find two clusters, with positively negatively correlated trading strategies within between clusters. We show that the two clusters mostly contain continuous net buyers and net sellers of money, respectively, and that cluster memberships of individual banks are highly persistent.
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Additionally, we highlight some problems related to our definition of trading strategies. Our findings add further evidence on the fact that preferential lending relationships on the micro-level lead to community structure on the macro-level. This paper presents a methodology to obtain the optimal trading strategies between the proactive distribution company PDISCO , heterogeneous distributed generation owners DGOs and wholesale market in a real-time trading framework.
Carry trade as a speculative investment strategy in Serbia.
11.2 How market organization can influence prices
Full Text Available This paper is analyses causes and the consequences of a speculative investment carry trade strategy in the exchange market in Serbia. The presence of such type of investor is related to high yields of risk free securities denominated in dinars, as well as the perception of future movements of dinar exchange rate related to currency that serves as source of investment. The consequences of carry trade may significantly influence exchange rate movements when monetary policy has limited facilities to combat negative and sudden shocks.
Full Text Available Korea has developed rapidly since the s. It is one of the four Asian tiger economies and a good model for developing countries. Korea shows the world how a developing country can develop its economy rapidly and become industrialized.
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Its development strategy has mainly been an export-oriented trade policy. However, the Korean economy has experienced turbulence as well as positive growth. It underwent severe economic crises such as the Asian financial crisis in and the global financial crisis in Its economy has been extremely vulnerable to the external economic environment, although it has improved and strengthened, particularly since the global financial crisis.
During those two crises, the government carried out an appropriate trade policy with a strategic approach to upgrade its industrial structure and competitiveness in global markets. This article comprehensively discusses Korean trade policy and strategy over the last five decades, and how its national economy has developed rapidly. It also explores how the government sets its strategic targets in Asia and the Asia Pacific region. Therefore, it is wise to analyze these regional mega FTAs in order to maximize the national interest.
Evolution strategies for robust optimization. Real-world black-box optimization problems often involve various types of uncertainties and noise emerging in different parts of the optimization problem. When this is not accounted for, optimization may fail or may yield solutions that are optimal in the classical strict notion of optimality , but. Watershed-based point sources permitting strategy and dynamic permit- trading analysis.
Permit- trading policy in a total maximum daily load TMDL program may provide an additional avenue to produce environmental benefit, which closely approximates what would be achieved through a command and control approach, with relatively lower costs. One of the important considerations that might affect the effective trading mechanism is to determine the dynamic transaction prices and trading ratios in response to seasonal changes of assimilative capacity in the river.
Advanced studies associated with multi-temporal spatially varied trading ratios among point sources to manage water pollution hold considerable potential for industries and policy makers alike. This paper aims to present an integrated simulation and optimization analysis for generating spatially varied trading ratios and evaluating seasonal transaction prices accordingly.
It is designed to configure a permit- trading structure basin-wide and provide decision makers with a wealth of cost-effective, technology-oriented, risk-informed, and community-based management strategies. The case study, seamlessly integrating a QUAL2E simulation model with an optimal waste load allocation WLA scheme in a designated TMDL study area, helps understand the complexity of varying environmental resources values over space and time. The pollutants of concern in this region, which are eligible for trading , mainly include both biochemical oxygen demand BOD and ammonia-nitrogen NH3-N.
The problem solution, as a consequence, suggests an array of waste load reduction targets in a well-defined WLA scheme and exhibits a dynamic permit- trading framework among different sub-watersheds in the study area. Research findings gained in this paper may extend to any transferable dynamic-discharge permit TDDP program worldwide.
Delay-area trade -off for MPRM circuits based on hybrid discrete particle swarm optimization. Based on the study on discrete particle swarm optimization DPSO and mixed polarity, the corresponding relation between particle and mixed polarity is established, and the delay-area trade -off of large-scale MPRM circuits is proposed. An internet graph model based on trade -off optimization. This paper presents a new model for the Internet graph AS graph based on the concept of heuristic trade -off optimization , introduced by Fabrikant, Koutsoupias and Papadimitriou in[CITE] to grow a random tree with a heavily tailed degree distribution.
We propose here a generalization of this approach to generate a general graph, as a candidate for modeling the Internet.
Optimal trading strategy and supply/demand dynamics
We present the results of our simulations and an analysis of the standard parameters measured in our model, compared with measurements from the physical Internet graph. Determining an optimal supply chain strategy. Often this is as a result of insufficient knowledge about the costs involved in maintaining supply chains and the impact of the supply chain on their operations. Hence, these companies find it difficult to manufacture at a competitive cost and respond quickly and reliably to market demand.
optimal trading strategies: Topics by
Mismatched strategies are the root cause of the problems that plague supply chains, and supply-chain strategies based on a one-size-fits-all strategy often fail. The purpose of this article is to suggest instruments to determine an optimal supply chain strategy.
This article, which is conceptual in nature, provides a review of current supply chain strategies and suggests a framework for determining an optimal strategy. There is no polynomial algorithm discovered for Integer Linear Programming a problem which is NP-complete. Generally, the practical experience shows that large-scale integer linear programs seem as yet practically unsolvable or extremely time-consuming.
The algorithm described herein proposes an alternative approach to the problem. The algorithm consists of three steps: allocate the total executed quantity proportionally on the accounts, based on the allocation instructions pro-rata basis; construct an initial solution, distributing the executed prices; improve the solution iteratively, employing Tabu Search in conjunction with Simulated Annealing heuristics. Optimal management strategies in variable environments: Stochastic optimal control methods. Dynamic optimization was used to investigate the optimal defoliation of salt desert shrubs in north-western Utah.
Management was formulated in the context of optimal stochastic control theory, with objective functions composed of discounted or time-averaged biomass yields. Climatic variability and community patterns of salt desert shrublands make the application of stochastic optimal control both feasible and necessary.
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A primary production model was used to simulate shrub responses and harvest yields under a variety of climatic regimes and defoliation patterns. The simulation results then were used in an optimization model to determine optimal defoliation strategies. The latter model encodes an algorithm for finite state, finite action, infinite discrete time horizon Markov decision processes. Three questions were addressed: i What effect do changes in weather patterns have on optimal management strategies?
An analysis was performed for the three shrub species, winterfat Ceratoides lanata , shadscale Atriplex confertifolia and big sagebrush Artemisia tridentata. In general, the results indicate substantial differences among species in optimal control strategies , which are associated with differences in physiological and morphological characteristics. Optimal policies for big sagebrush varied less with variation in climate, reserve levels and discount rates than did either shadscale or winterfat. This was attributed primarily to the overwintering of photosynthetically active tissue and to metabolic activity early in the growing season.
Optimal defoliation of shadscale and winterfat generally was more responsive to differences in plant vigor and climate, reflecting the sensitivity of these species to utilization and replenishment of carbohydrate reserves. Similarities could be seen in the influence of both. Using trading strategies to detect phase transitions in financial markets.
We show that the log-periodic power law singularity model LPPLS , a mathematical embodiment of positive feedbacks between agents and of their hierarchical dynamical organization, has a significant predictive power in financial markets. We find that LPPLS-based strategies significantly outperform the randomized ones and that they are robust with respect to a large selection of assets and time periods.
The dynamics of prices thus markedly deviate from randomness in certain pockets of predictability that can be associated with bubble market regimes. Our hybrid approach, marrying finance with the trading strategies , and critical phenomena with LPPLS, demonstrates that targeting information related to phase transitions enables the forecast of financial bubbles and crashes punctuating the dynamics of prices. CERN Multimedia.