Volume 2, Issue 1

In this paper, the enterprise annuity replacement rate in China is discussed. The enterprise annuity replacement rate refers to the ratio of pension income and wages income before retired. It is an important indicator to measure the standard of living of the elderly population. The paper succeeded derived the equilibrium model of the enterprise annuity fund under the cost and management fee, and the enterprise annuity replacement rate is deduced. Moreover, the sensitivity analysis of each parameter is given, and the enterprise annuity rate of substitution for different gender is also obtained, which shows that the existing system of enterprise annuity unfairness to exist between men and women.

As one of the financial industries, the insurance industry is now facing a vast market and significant growth opportunities. The insurance company will generate a lot transaction data each day, thus forming a huge database. Recommending insurance products for customers accurately and efficiently can help to improve the competitiveness of insurance company. Data mining technologies such as association rules have been applied to the recommendation of insurance products. However, large policyholders’ data will be calculated when it being processed with associate rule algorithm. It not only requires higher cost of time and space, but also can lead to the final rules lack of accuracy and differentiation. In this paper, a recommendation model for insurance products based on consumer segmentation is constructed, which first divides consumer group into different classes and then processed with associate rule algorithm. The empirical results show that our proposed method not only makes the consumption of association rules analysis reduced, it has also got more effective product recommendation results.

Dynamic pricing has been proven to be an effective tool to increase revenue in many industries. We discuss the optimal time point to increase price of perishable products under duopoly competition in revenue management. We propose a game-theoretic model to describe the price increasing timing problem of competitive perishable products in the same market. By solving this problem, we show the existence of Stackelberg equilibrium point and Cournot equilibrium point when choosing the optimal price switching time. To illustrate our results, we also present a numerical example. Our results are applicable for decision makers to determine the optimal time to stop discounting.

The paper did some work to analyze the longevity risk of impaired lives with general chronic diseases. The work was based on the age-specific, time-specific and disease-specific data set which is from the underwriting data base, the Chinese healthy yearbook and the medical institution. After some analysis on the final data, the results showed that there was an obvious upward trend in morbidity and downward trend mortality. All the results can be used in the pricing process of insurance products for impaired lives. The paper also showed the pricing results of innovative life insurance products for impaired lives with diabetes. The conclusion means a good market chance for any insurance companies.

Considering the dynamics and diversity of wealth expectations, this paper follows and extends Hall’s consumption function to establish a new dynamic model of housing wealth effect. People are classified into the rich group and the poor group and a housing wealth effect model is made for each group to explore the relationship between housing wealth effect and social inequality. We get three interesting conclusions which are helpful for further empirical test apart from the former deviation or fallacy.

The stability of the repairable system with three units and vacation was investigated by two different methods in this note. The repairable system is described by a set of ordinary differential equation coupled with partial differential equations with initial values and integral boundaries. To apply the theory of positive operator semigroups to discuss the repairable system, the system equations were transformed into an abstract Cauchy problem on some Banach lattice. The system equations have a unique non-negative dynamic solution and positive steady-state solution and dynamic solution strongly converges to steady-state solution were shown on the basis of the detailed spectral analysis of the system operator. Furthermore, the Cesáro mean ergodicity of the semigroup T ( t ) generated by the system operator was also shown through the irreducibility of the semigroup.

We propose a full Bayesian subset selection method for reproductive dispersion linear models, which bases on expanding the usual link function to a function that incorporates all possible subsets of predictors by adding indictors as parameters. The vector of indicator variables dictates which predictors to delete. An efficient MCMC procedure that combining Gibbs sampler and Metropolis-Hastings algorithm is presented to approximate the posterior distribution of the indicator variables. The promising subsets of predictors can be identified as those with higher posterior probability. Several numerical examples are used to illustrate the newly developed methodology.

Evolutionary computations are kinds of random searching algorithms derived from natural selection and biological genetic evolution behavior. Evaluating the performance of an algorithm is a fundamental task to track and find the way to improve the algorithm, while visualization technique may play an important act during the process. Based on current existing algorithm performance evaluation criteria and methods, a Python-based programming tracking strategy, which employs 2-D graphical library of python matplotlib for online algorithm performance evaluation, is proposed in this paper. Tracking and displaying the performance of genetic algorithm (GA) and particle swarm optimization (PSO) optimizing two typical numerical benchmark problems are employed for verification and validation. Results show that the tracking strategy based on Python language for online performance evaluation of evolutionary algorithms is valid, and can be used to help researchers on algorithms’ performance evaluation and finding ways to improve it.