The Geography of a Mixed‐Race Society

The pattern and level of separation among ethnic groups continues to change, and there are certainly more mixed neighborhoods both in cities and suburbs than two decades ago. The immigration flows of the past decade have substantially altered the ethnic mix and neighborhood mixing. In addition, multi‐ethnic individuals themselves are altering the level of mixing among racial and ethnic groups. The research in this article shows that those who report themselves of more than one race have high levels of residential integration both in central cities and suburbs. These residential patterns can be interpreted as further evidence of tentative steps to a society in which race per se is less critical in residential patterning. The level of integration, for Asian mixed and black mixed is different and substantially higher than for those who report one race alone. The research in this article builds on previous aggregate studies of mixed‐race individuals to show substantial patterns of integration in California's metropolitan areas.     

Capacity Cost Allocation in the Provision of Urban Public Services: The Case of Gas Distribution

ABSTRACT This paper analyzes the pattern of price discrimination and cross-subsidization that result from traditional gas distribution cost allocation procedures. A gas distribution capital cost function is developed, using the Box-Cox transformation and estimation procedure applied to a cross-section of 65 communities, and is used to assess the deviations between distribution marginal costs and actual cost allocations. The major conclusions are that current pricing practices produce an aggregate net subsidy to all combined customer classes, that both intra- and inter-class cross-subsidizations are occurring, with the commercial and small industrial markets as the major losers, and that the smaller communities tend to subsidize the larger ones. These results support a move away from current, company-level pricing practices towards locally differentiated pricing.     

Happy neighborhoods: Investigating neighborhood conditions and sentiments of a shrinking city with Twitter data

Planning interventions have been applied to improve the well‐being, hereafter happiness, of residents. The happiness in shrinking cities, in particular, becomes more critical since urban decline tends to induce an unequal and uneven distribution of care under a limited budget and human resources. Using geo‐tagged Twitter, census, and geospatial data on Detroit, Michigan, which is one of the well‐known shrinking cities in the U.S., the spatial distribution of sentiments, topics of tweets appeared, and the association between neighborhood conditions and the level of happiness were examined. The outcomes indicate that people in Detroit are posting happy tweets more than negative tweets. The downtown area holds both positive and negative hotspots, which are clustered around sports arenas and bars, respectively. Neighborhoods with young and well‐educated residents, situated close to amenities (i.e., recreation facilities, colleges, and commercial areas), and less crime tend to be happier. The use of SNS data could serve as a meaningful social listening tool to reconcile the declining urban vitality of neighborhoods since people interact with those spaces. Negative sentiments are attached to specific neighborhoods with certain conditions so that regeneration efforts should take place in neighborhoods with a higher priority.     

Contingent Claims Analysis of Valuation of Risky Debt with Bankruptcy Costs

Research on valuation of corporate risky debt is given when bankruptcy costs are taken into account. Bankruptcy costs are expenditures of enterprise that get into bankruptcy, as a result, enterprise asset value is reduced, and debt value is reduced too because bondholders only receive asset value deducted from bankruptcy costs. Differential equation which risky debt value follows is given and a model about infinite maturity debt is obtained. By applying contingent claims pricing and stochastic calculus methods, the paper derives a risky debt value formula, this formula can illustrate the effect of investment policy and dividend policy on risky debt value. At last the results are comporred with results of Merton and Black and it is found that our results improve Merton and Black's.     

Expanding Access to the Secondary Mortgage Markets: The Role of Central City Lending Goals

Access to credit in lower-income communities has become an increasingly central public policy issue in financial sector regulation over the past five years. One important reform was the establishment of purchasing goals for the government-sponsored secondary mortgage markets (Fannie Mae and Freddie Mac) in 1992. This paper examines the central city lending goal, using the St. Louis MSA as a case study. Census tracts are clustered according to five variables argued to impede secondary market purchases of home loans in some neighborhoods. Borrower characteristics and lending patterns are compared across the clusters of tracts, and across central city and suburban tracts. Clustered tracts are found to be more strongly related to a set of key lending variables than are tracts divided according to central city/ suburban boundaries. The paper concludes that targeting affirmative lending requirements on the basis of neighborhood characteristics rather than political or statistical divisions may provide a more appropriate framework for efforts to expand access to credit. However, the analysis of spatial differences in lending patterns raises a number of questions that require further research.     

The association between minority racial/ethnic groups and travel mode choices

This study highlights the association between minority racial/ethnic groups and travel mode choices according to a multitude of neighborhood characteristics, travel modes, and purposes in the Delaware Valley region. This study finds that minority racial/ethnic groups show different travel mode choices than whites. For instance, Blacks and Hispanics are less inclined to walk/bike, whereas whites prefer to use household carpool in high density areas when they go home. This study also highlights that minority racial/ethnic groups choose different travel modes according to travel purposes. For instance, blacks in ethnic neighborhoods are less inclined to use household carpool, whereas Asians are more apt to use it for the purpose of home. The results show that urban planners should design transportation policies for minority groups based on race/ethnicity, neighborhood characteristics, and travel purposes.     

Fractal CEV Model and Monte Carlo Simulation

By using fractional Brownian motion to replace geometric Brownian motion, the efficient market hypothesis is generalized hypothesis. provided to as fractal market hypothesis. A fractal CEV model is proposed, which is based on the fractal market Meanwhile, the optional pricing formula obeying the fractal CEV model is derived. Monte Carlo simulation is overcome the difficulty to get analytical solutions of the optional pricing equation.     

Note: Paid Informal Work in Deprived Urban Neighborhoods: Exploitative Employment or Cooperative Self‐Help?

The aim of this paper is to challenge the characterization of paid informal work as a form of employment based on exploitative relations that should be eradicated. Using empirical evidence gathered through structured interviews with 511 households in deprived and affluent neighborhoods in British cities, this paper reveals that paid informal work in deprived areas is mostly conducted for kin, neighbors, and friends for co‐operative reasons and is thus more like unpaid community exchange in the private sphere than exploitative employment. In consequence, the challenge for social and labor market policy is argued to be not to try to eradicate such work but to harness it in these deprived urban neighborhoods.     

Option Pricing Using Quasi-Monte Carlo Simulation

This paper firstly introduces the method of option pricing using Monte Carlo,then,proposes one kind of Quasi-Monte Carlo Simulation,which uses Halton sequences to improve Monte Carlo Simulation.This paper also introduces generated rule of Halton Low Discrepancy Sequences and Moro algorithm.Finally,the performances of three kinds of Quasi-Monte Carlo method are compared.     

Feature preserving mesh simplification using vertex estimation method

This paper proposes a new feature preserving algorithm of triangular mesh simplification based on vertex estimation. According to the topological relationship between a vertex and its neighborhood elements, the projection prediction method is applied to predict the new vertex. Ultimately, the linear interpolation operator is used to rectify the position of this new vertex. To insure the quality of model surfaces, both the distance error control and the angle error control are introduced. The experimental results show the presented algorithm works well to keep model feature and insure model surface smoothness in the course of mesh simplification.     

Analysis on the Management Systems of Fundamental Investments

In China, the management system of fundamental investments is key to the reforms of state-owned enterprises, the reforms of the policy-directed project management system and the revenue of state-owned properties. In this paper, the problems in management systems of the fundamental investments are studied and some practical advices are put forward.     

轮作种植制度的生态经济效益分析及发展建议

在集约化种植和经济效益的驱动下,连作在中国已经成了较为普遍的种植模式,即年复一年地在田间种植单一作物。长期的连作导致了病虫害严重、产量低下、土壤健康状况降低等诸多问题。轮作是有效解决连作障碍的方法之一,在国家粮食安全、生态环境发展以及乡村振兴等战略实施中有着至关重要的作用。本研究通过文献检索,利用对比分析法,进行文献综述,阐述相比于连作,轮作所带来的经济效益与生态效益,并且通过国内外相关轮作制度的对比,为中国轮作产业的发展提供建议。结果显示,相比于连作,轮作在经济与生态方面都有着很高的效益。同时通过对比发现,中国目前的轮作体系与国外在指导思路、推广机制、补贴方式与监管措施上均有差异,在轮作发展过程中,中国仍存在诸多问题。结合国外的相关轮作经验,中国应该着手于制定科学的轮作计划、发展轮作的配套技术（如保护性耕作、覆盖作物、节水灌溉等）、加强轮作相关的宣传与推广、精准落实轮作政策同时按时进行轮作的合理评估与政策调整,进而完善中国的轮作体系,这对于在国内大规模开展轮作种植具有一定的指导意义。     

Public vs. Private Garbage Disposal: The Economics of Solid Waste Flow Controls

ABSTRACT The welfare effects of public versus private waste disposal with and without flow controls are analyzed. The pricing of private waste disposal services is modeled as being bounded above by the public entity's average disposal cost, but constrained by potential entry of private competitors. It is found that once a publicly owned disposal facility has been built, waste generators are almost always better off if their local government has flow control authority. This results from the necessity of covering the fixed costs of the public facility once it has been built, in conjunction with the expected pricing behavior of private firms.     

Regional Marginal Costs and Cost Savings from Economies of Scale in Municipal Waste Treatment: An Application to the Chesapeake Bay Region

Marginal costs of removing effluent from waste treatment facilities are defined under different assumptions about regulatory policies. Marginal costs are different under a policy of uniform treatment for all plants compared to a least-cost policy, where different plants treat at different levels. The cost savings under these alternative policies are compared for river basins of the Chesapeake Bay when there are economies of scale in treatment costs. Current regulations for treatment plants in the Bay, which are not entirely uniform, are also compared to both the uniform and least-cost solutions. The potential savings from a least-cost policy are substantial for some basins.     

Do Minority‐Owned Businesses Face a Spatial Barrier? Measuring Neighborhood‐Level Economic Activity Differences in Philadelphia

This research takes a neighborhood‐level geographic approach to analyzing the issue of minority‐owned business access to economic opportunity. Disparity persists between the considerable number of minority‐owned businesses and their meager impact on economies across the country. Agencies identifying barriers to full economic inclusion for these firms overlook geographic considerations. While the City of Philadelphia allots considerable resources to alleviating this disparity through its municipal set‐aside program, its reports track these efforts mainly by ethnicity. The nonspatial emphasis of the reported data renders invisible neighborhood‐level trends and geographic explanations for the disparity such as associating business size and activity to neighborhood context. Using geographic information systems analysis, this research finds neighborhood‐level geographic inequity in the city contracts awarded to minority‐owned professional services businesses in Philadelphia. The findings suggest that minority‐owned businesses located in certain predominantly minority areas of Philadelphia possibly encounter a geographic disadvantage that limits them from connecting with economic activity. These businesses may face a spatial barrier to full economic inclusion.     

Comparative Research Between Spot Price and the Current Electrical price Systems in China

This paper introduces the pricing principle of the spot price and compares it withthe current electrical price systems in China.     

A New Pricing Contract of EPC General Contract： The Application of Target Contract

Due to very large scale of general contract projects, the scope of projects is always uncertain when the contractor bids and the difference between the planned and actual volumes of projects is very large. If a lump sum contract is used to establish the price, contractors thus must take high risks. The contract price is always high, and both owners and contractors show unwillingness to optimize technology under lump sum contract conditions. Owners are inclined to extend the norm and scope of projects. Such situations may result in additional costs. As a new pricing contract, a target contract fits the situation when project scope is not fully defined or the forecasting risks are high. Such a contract can bring both sides enthusiasm for technology optimization and substantially reduces project cost. Therefore, a target contract is suitable for EPC general contract pricing.     

Low‐carbon evaluation of rural neighborhood: A case study of Yanhe Village,Hubei Province,China

Climate change has become a global issue influencing human survival and development while low‐carbon is the inevitable choice. As the world’s largest emitter of greenhouse gases, China has become an important force that influences the cooperation of climate change. China is a large agricultural country, and the rural carbon emissions have been gradually increasing. We consider rural neighborhood as an important space for the use of low‐carbon ideas to address climate change. There is no specific assessment system for a rural neighborhood. The studies of rural neighborhood low‐carbon mainly focus on the method of calculation carbon emissions. However, only quantifying rural carbon emissions is insufficient. In this paper, a low‐carbon evaluation indicator system has been proposed for rural neighborhood and Fuzzy Comprehensive Evaluation has been applied to get the low‐carbon degree. Considering the influence and feedback inside the indicator system, Analytic Network Process was applied to get the weights. Furthermore, a case study was carried out for the using of the proposed method in an eco‐village of China. Our practice has proved that the system is easy to operate in rural neighborhood.     

Quality Contingent Pricing in Used Automobile Market

The problem concerning information asymmetry and quality uncertainty in the used automobile market of China has not been settled in a better way for years. Therefore, how to convey the signal of quality to the customers is of great value for used automobile dealers. On the basis of defining the probability of quality evaluation and for the purpose of achieving per expected revenue maximization, this paper builds a model of quality - contingent pricing and thus makes the optimal pricing and discount policy. In addition, this paper displays directly, through data analysis, the impact of the used automobiles pricing policy on the enterprise profits under the context of information asymmetry.     

Comparatively Research of Methods of Electricity Pricing at Transitional Period in China

With the reform toward power market processing, how to decide electricity price becomes a key problem which one power plant have to face. So in this paper, the authors show two ways to the problem, a pricing model by account and a pricing model by economics, then they analyze the cost structure and counting principle of three-electricity price, which is determined by the methods of repayment of capital with interest (RCI pricing), of the operation period (OP pricing) and of marginal cost (MC pricing). Then similarities and differences among these three pricing methods existing in the transitional period are examined by a case in china. The indicate that it is important and inevitable to reform RCI pricing, to popularize OP pricing and to transfer to MC pricing.