简介:Thispaperstudiestheoptimalconsumption-investmentstrategywithHeston’sstochasticvolatility(SV)modelunderhyperbolicabsoluteriskaversion(HARA)utilitycriterion.Thefinancialmarketiscomposedofarisk-lessassetandariskyasset,whosepriceprocessissupposedtobedrivenbyHeston’sSVmodel.TheriskypreferenceoftheindividualisassumedtosatisfyHARAutility,whichrecoverspowerutility,exponentialutilityandlogarithmutilityasspecialcases.HARAutilityisofgeneralframeworkintheutilitytheoryandisseldomstudiedintheexistingliteratures.Legendretransform-dualtechniquealongwithstochasticdynamicprogrammingprincipleispresentedtodealwithourproblemandtheclosed-formsolutiontotheoptimalconsumption-investmentstrategyissuccessfullyobtained.Finally,somespecialcasesarederivedindetail.
简介:摘要: 在火力发电输入煤采样过程中,传统的煤采样粉碎机在作业中达不到粉碎效果,噪声大、工作效率低下,基于此情况,要设计一种新型煤采样粉碎机。本课题主要根据煤的湿度及粉碎状态来确定新型煤采样粉碎机整体设计方案,对重要部分进行结构设计,通过计算以满足设计准则;对重要部件用 Solidworks 进行三维建模;对重要零部件进行 Workbench 有限元分析,设计出一种新型高效率的煤采样粉碎机,来解决现场中粉碎效果差、噪声大、工作效率低下的问题。