A Conversation with Yuan Shih Chow

Yuan Shih Chow was born in Hubei province in China, on September 1, 1924. The eldest child of a local militia and political leader, he grew up in war and turmoil. His hometown was on the front line during most of the Japanese invasion and occupation of China. When he was 16, Y. S. Chow journeyed, mostly on foot, to Chongqing (Chung-King), the wartime Chinese capital, to finish his high school education. When the Communist party gained power in China, Y. S. Chow had already followed his university job to Taiwan. In Taiwan, he taught mathematics as an assistant at National Taiwan University until he came to the United States in 1954. At the University of Illinois, he studied under J. L. Doob and received his Ph.D. in 1958. He served as a staff mathematician and adjunct faculty at the IBM Watson Research Laboratory and Columbia University from 1959 to 1962. He was a member of the Statistics Department at Purdue University from 1962 to 1968. From 1968 until his retirement in 1993, Y. S. Chow served as Professor of Mathematical Statistics at Columbia University. At different times, he was a visiting professor at the University of California at Berkeley, University of Heidelberg (Germany) and the National Central University, Taiwan. He served as Director of the Institute of Mathematics of Academia Sinica, Taiwan, and Director of the Center of Applied Statistics at Nankai University, Tianjin, China. He was instrumental in establishing the Institute of Statistics of Academia Sinica in Taiwan. He is currently Professor Emeritus at Columbia University. Y. S. Chow is a fellow of the Institute of Mathematical Statistics, a member of the International Statistical Institute and a member of Taiwan's Academia Sinica. He has numerous publications, including Great Expectations: The Theory of Optimal Stopping (1971), in collaboration with Herbert Robbins and David Siegmund, and Probability Theory (1978), in collaboration with Henry Teicher. Y. S. Chow has a strong interest in mathematics education. He taught high school mathematics for one year in 1947 and wrote a book on high school algebra in collaboration with J. H. Teng and M. L. Chu. In 1992, Y. S. Chow, together with I. S. Chang and W. C. Ho, established the Chinese Institute of Probability and Statistics in Taiwan. This conversation took place in the fall of 2003 in Dobbs Ferry, New York.Comment: Published at http://dx.doi.org/10.1214/088342304000000224 in the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Multivariate Partial Distribution: A New Method of Pricing Group Assets and Analyzing the Risk for Hedging

Based on the Partial Distribution (Feng Dai, 2001), a new model to price an asset (MPA) is given. Going a step further, this paper puts forward the Multivariate Partial Distribution (MPD) for the first time. By use of MPD, we could gain a new kind of model for pricing the group assets (MPGA), in which the competition and cooperation are considered. Based on MPGA, the integrated risk of group assets can be divided to hedging risk and independent risk, and the corresponding models are given. So we could analyze the price risk of group assets in more particular way. The conclusions show that assets are hedged in simple way of one to one can not eliminates completely their market risk in many cases. So there should be an optimal ratio between underlying asset and its derivative in hedging. The approach to determine the optimal ratio in hedging is offered in this paper. By the MPA and MPGA, we also could interpret five of interesting economic propositions in analytic way.multivariate Partial Distribution; pricing assets; group assets; risk analysis; optimal hedging

Multivariate Partial Distribution: A New Method of Pricing Group Assets and Analyzing the Risk for Hedging

Based on the Partial Distribution (Feng Dai, 2001), a new model to price an asset (MPA) is given. Going a step further, this paper puts forward the Multivariate Partial Distribution (MPD) for the first time. By use of MPD, we could gain a new kind of model for pricing the group assets (MPGA), in which the competition and cooperation are considered. Based on MPGA, the integrated risk of group assets can be divided to hedging risk and independent risk, and the corresponding models are given. So we could analyze the price risk of group assets in more particular way. The conclusions show that assets are hedged in simple way of one to one can not eliminates completely their market risk in many cases. So there should be an optimal ratio between underlying asset and its derivative in hedging. The approach to determine the optimal ratio in hedging is offered in this paper. By the MPA and MPGA, we also could interpret five of interesting economic propositions in analytic way.Multivariate Partial Distribution pricing assets group assets risk analysis optimal hedging

The rare semi-leptonic BcB_c decays involving orbitally excited final mesons

The rare processes $B_c\to D_{(s)J} ^{(*)}\mu\bar{\mu}$, where $D_{(s)J}^{(*)}$ stands for the final meson $D_{s0}^*(2317)$, $D_{s1}(2460,2536)$,~$D_{s2}^*(2573)$, $D_0^*(2400)$, $D_{1}(2420,2430)$ or~$D_{2}^*(2460)$, are studied within the Standard Model. The hadronic matrix elements are evaluated in the Bethe-Salpeter approach and furthermore a discussion on the gauge-invariant condition of the annihilation hadronic currents is presented. Considering the penguin, box, annihilation, color-favored cascade and color-suppressed cascade contributions, the observables $\text{d}Br/\text{d}Q^2$, $A_{LPL}$, $A_{FB}$ and $P_L$ are calculated

Research on Professional Skill Training implemented into College Education System

In the process of deepening the reform of higher education, one of the important issues concerned together by government, enterprise and schools is how to improve the quality of higher education and improve Students professional skills and overall quality. For the sake of meeting the needs of society and the requirements of employment units “comprehensive” talent, improving students’ professional skills and capability, this paper suggested to embed professional skill training into college education system. On the basis of establishing training model in college education system, this paper divided the model into the inner circle and outer circle. Meanwhile it pointed out setting up“2+1+1”college course to ensure the model implement successfully. Key words: professional skill training, college education system Résumé: Dans le processus de l’approfondissement de la réforme de l’éducation supérieure, un des plus importants problèmes préoccupant à la fois le gouvernement, les entreprises et les écoles est comment améliorer la qualité de l’éducation supérieure et développer la compétence professionnelle des étudiants. Afin de répondre aux besoins de la société et aux exigences des employeurs de chercher des talents « compréhensifs », et d’élever la compétence et les capacités professionnelles des étudiants, l’article présent propose d’implanter l’entraînement de la compétence professionnelle dans le système éducatif universitaire. Sur la base de l’établissement du modèle d’entraînement, l’article divise le modèle en cercle interne et cercle externe. Il suggère en même temps d’instaurer le cours universitaire « 2+1+1 » pour assuer l’application résussie du modèle. Mots-Clés: entraînement de la compétence professionnelle, système éducatif universitair