A regression-based smoothing spline Monte Carlo algorithm for pricing American options in discrete time

American options in discrete time can be priced by solving optimal stopping problems. This can be done by computing so-called continuation values, which we represent as regression functions defined recursively by using the continuation values of the next time step. We use Monte Carlo to generate data, and then we apply smoothing spline regression estimates to estimate the continuation values from these data. All parameters of the estimate are chosen data dependent. We present results concerning consistency and the estimates’ rate of convergence.     

An Experimental Evaluation of the Serial Cost Sharing Rule

This paper proposes an experimental test to evaluate the performance of the serial cost sharing rule, originally proposed by Shenker [Sigmetrics, 241–242 (1990)] and then analyzed by Moulin and Shenker [Econometrica 60, 1009–1037 (1992)]. We report measures of the performance and efficiency of the serial mechanism by comparing the choices and payoffs attained by the subjects to the expected equilibrium allocations. Experimental evidence shows that learning is needed for the subjects to converge to the equilibrium strategy. However, in terms of efficiency, the serial mechanism leads to almost efficient allocations.     

漫谈古代汉语语法科学与教学语法体系建立——今古专书注释考据语法分析研究札记

语法教学体系跟科学体系有关系、有区别。根据今古专书注释考据中的语法分析，古代汉语教学语法体系宜有旬读与层次分析、语义关系分析、语词搭配分析、旬式词序历史变化分析、语用和语境分析等内容。     

论政治经济学的学科地位问题——兼论西北大学国家重点学科政治经济学的学科建设

在评析当前政治经济学研究的发展趋势,论述政治经济学学科地位的基础上,探讨加强政治经济学的学科建设问题,提出了西北大学国家重点学科政治经济学学科建设的主要内容是现代市场经济理论与中国经济发展、马克思主义经济理论及其新发展、经济增长与区域经济发展、企业理论与现代企业制度四个方面.通过加强学术团队、人才培养、科学研究和学术交流等具体措施,全面提升和发展政治经济学.     

Gay Affirmative Practice: A Model for Social Work Practice with Gay,Lesbian, and Bisexual Youth

Gay affirmative practice has recently been introduced into the social work literature as a culturally sensitive model for working with gay, lesbian, and bisexual (GLB) adults, however, this model has rarely been applied to practice with GLB youth. In this article, the authors review the literature to present the main tenets of gay affirmative practice, outline the challenges that GLB youth face, and delineate the environmental and individual strengths that can be enhanced to promote well-being. The authors then apply the gay affirmative practice model to GLB youth, offering concrete information about the specific knowledge, attitudes, and skills that social workers should acquire to better serve the unique, yet diverse, needs of GLB youth.