电力现货市场(试)运行后,政府授权差价合同(contracts for differences,CFDs)的结算机制对市场主体的经济利益和市场行为影响很大。分析了电力现货市场环境下,政府授权差价合同电量和电价的内涵、对冲现货市场价格风险的机理以及结算面...电力现货市场(试)运行后,政府授权差价合同(contracts for differences,CFDs)的结算机制对市场主体的经济利益和市场行为影响很大。分析了电力现货市场环境下,政府授权差价合同电量和电价的内涵、对冲现货市场价格风险的机理以及结算面临的问题,论述了差价合同实现对冲现货市场价格风险功能的前提,并基于保证公平和实现差价合同避险功能的两大原则,研究提出了"区别化(10)事前确定"的结算机制。最后,重点梳理了目前广东省、福建省和浙江省政府授权差价合同的结算机制,对所提出的结算机制和各现货试点省份现行采用的结算机制进行了比较分析,并通过案例分析论证了所提结算机制的公平性和实用性。展开更多
模糊限制语是把事物弄得模模糊糊的词语.模糊限制语是学术语篇中的常见语体特征.文章以系统功能语言学的人际功能理论和评价理论为指导,以John Weier的"Focus on Global Warming"一文为例,分析探讨了模糊限制语在学术语篇中...模糊限制语是把事物弄得模模糊糊的词语.模糊限制语是学术语篇中的常见语体特征.文章以系统功能语言学的人际功能理论和评价理论为指导,以John Weier的"Focus on Global Warming"一文为例,分析探讨了模糊限制语在学术语篇中如何改善和维系语篇参与者之间的关系.研究表明:模糊限制语可以使学术语篇的表达更接近客观事实;可以使作者得以谨慎、谦虚地表达自己的观点,使他们易于被接受,避免招致批评;可以表达语篇参与者之间对话协商的态度.展开更多
Probability criterion has its practical significance, and its investment decision-making is determined by the expected discounted wealth. In a complete, standard financial market with short-selling allowed, this paper...Probability criterion has its practical significance, and its investment decision-making is determined by the expected discounted wealth. In a complete, standard financial market with short-selling allowed, this paper probes into the investment decision-making with probability criterion. The upper limit of criterion function is obtained. The corresponding discounted wealth process and hedging portfolio process are provided. Finally, an illustrative example of one-dimensional constant-coefficient financial market is given.展开更多
文摘电力现货市场(试)运行后,政府授权差价合同(contracts for differences,CFDs)的结算机制对市场主体的经济利益和市场行为影响很大。分析了电力现货市场环境下,政府授权差价合同电量和电价的内涵、对冲现货市场价格风险的机理以及结算面临的问题,论述了差价合同实现对冲现货市场价格风险功能的前提,并基于保证公平和实现差价合同避险功能的两大原则,研究提出了"区别化(10)事前确定"的结算机制。最后,重点梳理了目前广东省、福建省和浙江省政府授权差价合同的结算机制,对所提出的结算机制和各现货试点省份现行采用的结算机制进行了比较分析,并通过案例分析论证了所提结算机制的公平性和实用性。
文摘模糊限制语是把事物弄得模模糊糊的词语.模糊限制语是学术语篇中的常见语体特征.文章以系统功能语言学的人际功能理论和评价理论为指导,以John Weier的"Focus on Global Warming"一文为例,分析探讨了模糊限制语在学术语篇中如何改善和维系语篇参与者之间的关系.研究表明:模糊限制语可以使学术语篇的表达更接近客观事实;可以使作者得以谨慎、谦虚地表达自己的观点,使他们易于被接受,避免招致批评;可以表达语篇参与者之间对话协商的态度.
基金This project was supported by the National Natural Science Foundation of China(70171004)Tianjin Natural Science Foundation(013602611).
文摘Probability criterion has its practical significance, and its investment decision-making is determined by the expected discounted wealth. In a complete, standard financial market with short-selling allowed, this paper probes into the investment decision-making with probability criterion. The upper limit of criterion function is obtained. The corresponding discounted wealth process and hedging portfolio process are provided. Finally, an illustrative example of one-dimensional constant-coefficient financial market is given.
