A model of continuous-time insider trading in which a risk-neutral in-sider possesses two imperfect correlated signals of a risky asset is studied.By conditional expectation theory and filtering theory,we first establ...A model of continuous-time insider trading in which a risk-neutral in-sider possesses two imperfect correlated signals of a risky asset is studied.By conditional expectation theory and filtering theory,we first establish three lemmas:normal corre-lation,equivalent pricing and equivalent profit,which can guarantee to turn our model into a model with insider knowing full information.Then we investigate the impact of the two correlated signals on the market equilibrium consisting of optimal insider trading strategy and semi-strong pricing rule.It shows that in the equilibrium,(1)the market depth is constant over time;(2)if the two noisy signals are not linerly correlated,then all private information of the insider is incorporated into prices in the end while the whole information on the asset value can not incorporated into prices in the end;(3)if the two noisy signals are linear correlated such that the insider can infer the whole information of the asset value,then our model turns into a model with insider knowing full information;(4)if the two noisy signals are the same then the total ex ant profit of the insider is increasing with the noise decreasing,while down to O as the noise going up to infinity;(5)if the two noisy signals are not linear correlated then with one noisy signal fixed,the total ex ante profit of the insider is single-peaked with a unique minimum with respect to the other noisy signal value,and furthermore as the noisy value going to O it gets its maximum,the profit in the case that the real value is observed.展开更多
To improve magnetotelluric(MT)nonlinear inversion accuracy and stability,this work introduces the deep belief network(DBN)algorithm.Firstly,a network frame is set up for training in different 2D MT models.The network ...To improve magnetotelluric(MT)nonlinear inversion accuracy and stability,this work introduces the deep belief network(DBN)algorithm.Firstly,a network frame is set up for training in different 2D MT models.The network inputs are the apparent resistivities of known models,and the outputs are the model parameters.The optimal network structure is achieved by determining the numbers of hidden layers and network nodes.Secondly,the learning process of the DBN is implemented to obtain the optimal solution of network connection weights for known geoelectric models.Finally,the trained DBN is verified through inversion tests,in which the network inputs are the apparent resistivities of unknown models,and the outputs are the corresponding model parameters.The experiment results show that the DBN can make full use of the global searching capability of the restricted Boltzmann machine(RBM)unsupervised learning and the local optimization of the back propagation(BP)neural network supervised learning.Comparing to the traditional neural network inversion,the calculation accuracy and stability of the DBN for MT data inversion are improved significantly.And the tests on synthetic data reveal that this method can be applied to MT data inversion and achieve good results compared with the least-square regularization inversion.展开更多
Based on nonlinear Mohr-Coulomb failure criterion, the analytical solutions of stability number and supporting force on twin shallow tunnels were derived using upper bound theorem of limit analysis. The optimized solu...Based on nonlinear Mohr-Coulomb failure criterion, the analytical solutions of stability number and supporting force on twin shallow tunnels were derived using upper bound theorem of limit analysis. The optimized solutions were obtained by the technique of sequential quadratic programming. When nonlinear coefficient equals 1 and internal friction angle equals 0, the nonlinear Mohr-Coulomb failure criterion degenerates into linear failure criterion. The calculated results of stability number in this work were compared with previous results, and the agreement verifies the effectiveness of the present method. Under the condition of nonlinear Mohr-Coulomb failure criterion, the results show that the supporting force on twin shallow tunnels obviously increases when the nonlinear coefficient, burial depth, ground load or pore water pressure coefficients increase. When the clear distance is 0.5to 1.0 times the diameter of tunnel, the supporting force of twin shallow tunnels reaches its maximum value, which means that the tunnels are the easiest to collapse. While the clear distance increases to 3.5 times the diameter of tunnel, the calculation for twin shallow tunnels can be carried out by the method for independent single shallow tunnel. Therefore, 3.5 times the diameter of tunnel serves as a critical value to determine whether twin shallow tunnels influence each other. In designing twin shallow tunnels,appropriate clear distance value must be selected according to its change rules and actual topographic conditions, meanwhile, the influences of nonlinear failure criterion of soil materials and pore water must be completely considered. During the excavation process, supporting system should be intensified at the positions of larger burial depth or ground load to avoid collapses.展开更多
The overturning stability is vital for the retaining wall design of foundation pits, where the surrounding soils are usually unsaturated due to water draining. Moreover, the intermediate principal stress does affect t...The overturning stability is vital for the retaining wall design of foundation pits, where the surrounding soils are usually unsaturated due to water draining. Moreover, the intermediate principal stress does affect the unsaturated soil strength; meanwhile, the relationship between the unsaturated soil strength and matric suction is nonlinear. This work is to present closed-form equations of critical embedment depth for a rigid retaining wall against overturning by means of moment equilibrium. Matric suction is considered to be distributed uniformly and linearly with depth. The unified shear strength formulation for unsaturated soils under the plane strain condition is adopted to characterize the intermediate principal stress effect, and strength nonlinearity is described by a hyperbolic model of suction angle. The result obtained is orderly series solutions rather than one specific answer; thus, it has wide theoretical significance and good applicability. The validity of this present work is demonstrated by comparing it with a lower bound solution. The traditional overturning designs for rigid retaining walls, in which the saturated soil mechanics neglecting matric suction or the unsaturated soil mechanics based on the Mohr-Coulomb criterion are employed, are special cases of the proposed result. Parametric studies about the intermediate principal stress, matric suction and its distributions along with two strength nonlinearity methods on a new defined critical buried coefficient are discussed.展开更多
文摘A model of continuous-time insider trading in which a risk-neutral in-sider possesses two imperfect correlated signals of a risky asset is studied.By conditional expectation theory and filtering theory,we first establish three lemmas:normal corre-lation,equivalent pricing and equivalent profit,which can guarantee to turn our model into a model with insider knowing full information.Then we investigate the impact of the two correlated signals on the market equilibrium consisting of optimal insider trading strategy and semi-strong pricing rule.It shows that in the equilibrium,(1)the market depth is constant over time;(2)if the two noisy signals are not linerly correlated,then all private information of the insider is incorporated into prices in the end while the whole information on the asset value can not incorporated into prices in the end;(3)if the two noisy signals are linear correlated such that the insider can infer the whole information of the asset value,then our model turns into a model with insider knowing full information;(4)if the two noisy signals are the same then the total ex ant profit of the insider is increasing with the noise decreasing,while down to O as the noise going up to infinity;(5)if the two noisy signals are not linear correlated then with one noisy signal fixed,the total ex ante profit of the insider is single-peaked with a unique minimum with respect to the other noisy signal value,and furthermore as the noisy value going to O it gets its maximum,the profit in the case that the real value is observed.
基金Project(41304090)supported by the National Natural Science Foundation of ChinaProject(2016YFC0303104)supported by the National Key Research and Development Project of ChinaProject(DY135-S1-1-07)supported by Ocean 13th Five-Year International Marine Resources Survey and Development of China
文摘To improve magnetotelluric(MT)nonlinear inversion accuracy and stability,this work introduces the deep belief network(DBN)algorithm.Firstly,a network frame is set up for training in different 2D MT models.The network inputs are the apparent resistivities of known models,and the outputs are the model parameters.The optimal network structure is achieved by determining the numbers of hidden layers and network nodes.Secondly,the learning process of the DBN is implemented to obtain the optimal solution of network connection weights for known geoelectric models.Finally,the trained DBN is verified through inversion tests,in which the network inputs are the apparent resistivities of unknown models,and the outputs are the corresponding model parameters.The experiment results show that the DBN can make full use of the global searching capability of the restricted Boltzmann machine(RBM)unsupervised learning and the local optimization of the back propagation(BP)neural network supervised learning.Comparing to the traditional neural network inversion,the calculation accuracy and stability of the DBN for MT data inversion are improved significantly.And the tests on synthetic data reveal that this method can be applied to MT data inversion and achieve good results compared with the least-square regularization inversion.
基金Project(2013CB036004)supported by the National Basic Research Program of ChinaProject(51378510)supported by the NationalNatural Science Foundation of ChinaProject(CX2013B077)supported by Hunan Provincial Innovation Foundation for Postgraduate,China
文摘Based on nonlinear Mohr-Coulomb failure criterion, the analytical solutions of stability number and supporting force on twin shallow tunnels were derived using upper bound theorem of limit analysis. The optimized solutions were obtained by the technique of sequential quadratic programming. When nonlinear coefficient equals 1 and internal friction angle equals 0, the nonlinear Mohr-Coulomb failure criterion degenerates into linear failure criterion. The calculated results of stability number in this work were compared with previous results, and the agreement verifies the effectiveness of the present method. Under the condition of nonlinear Mohr-Coulomb failure criterion, the results show that the supporting force on twin shallow tunnels obviously increases when the nonlinear coefficient, burial depth, ground load or pore water pressure coefficients increase. When the clear distance is 0.5to 1.0 times the diameter of tunnel, the supporting force of twin shallow tunnels reaches its maximum value, which means that the tunnels are the easiest to collapse. While the clear distance increases to 3.5 times the diameter of tunnel, the calculation for twin shallow tunnels can be carried out by the method for independent single shallow tunnel. Therefore, 3.5 times the diameter of tunnel serves as a critical value to determine whether twin shallow tunnels influence each other. In designing twin shallow tunnels,appropriate clear distance value must be selected according to its change rules and actual topographic conditions, meanwhile, the influences of nonlinear failure criterion of soil materials and pore water must be completely considered. During the excavation process, supporting system should be intensified at the positions of larger burial depth or ground load to avoid collapses.
基金Project(41202191)supported by the National Natural Science Foundation of ChinaProject(2015JM4146)supported by the Natural Science Foundation of Shaanxi Province,ChinaProject(2015)supported by the Postdoctoral Research Project of Shaanxi Province,China
文摘The overturning stability is vital for the retaining wall design of foundation pits, where the surrounding soils are usually unsaturated due to water draining. Moreover, the intermediate principal stress does affect the unsaturated soil strength; meanwhile, the relationship between the unsaturated soil strength and matric suction is nonlinear. This work is to present closed-form equations of critical embedment depth for a rigid retaining wall against overturning by means of moment equilibrium. Matric suction is considered to be distributed uniformly and linearly with depth. The unified shear strength formulation for unsaturated soils under the plane strain condition is adopted to characterize the intermediate principal stress effect, and strength nonlinearity is described by a hyperbolic model of suction angle. The result obtained is orderly series solutions rather than one specific answer; thus, it has wide theoretical significance and good applicability. The validity of this present work is demonstrated by comparing it with a lower bound solution. The traditional overturning designs for rigid retaining walls, in which the saturated soil mechanics neglecting matric suction or the unsaturated soil mechanics based on the Mohr-Coulomb criterion are employed, are special cases of the proposed result. Parametric studies about the intermediate principal stress, matric suction and its distributions along with two strength nonlinearity methods on a new defined critical buried coefficient are discussed.
