Higher-order Moment Portfolio Optimization via The Difference-of-Convex Programming and Sums-of-Squares

We are interested in developing a Difference-of-Convex (DC) programming approach based on Difference-of-Convex-Sums-of-Squares (DC-SOS) decomposition techniques for high-order moment (Mean-Variance-Skewness-Kurtosis) portfolio optimization model. This problem can be formulated as a nonconvex quartic multivariate polynomial optimization, then a DC programming formulation based on the recently developed DC-SOS decomposition is investigated. We can use a well-known DC algorithm, namely DCA, for its numerical solution. Moreover, an acceleration technique for DCA, namely Boosted-DCA (BDCA), based on an inexact line search (Armijo-type line search) to accelerate the convergence of DCA for smooth and nonsmooth DC program with convex constraints is proposed. This technique is applied to DCA based on DC-SOS decomposition, and DCA based on universal DC decomposition. Numerical simulations of DCA and Boosted-DCA on synthetic and real datasets are reported. Comparisons with some non-dc programming based optimization solvers (KNITRO, FILTERSD, IPOPT and MATLAB fmincon) demonstrate that our Boosted-DC algorithms can achieve same numerical results with good performance comparable to these efficient methods on solving the high-order moment portfolio optimization model.Comment: 42 pages, 13 figure

NLO QCD corrections to Single Top and W associated production at the LHC with forward detector acceptances

In this paper we study the Single Top and W boson associated photoproduction via the main reaction $\rm pp\rightarrow p\gamma p\rightarrow pW^{\pm}t+Y$ at the 14 TeV Large Hadron Collider (LHC) up to next-to-leading order (NLO) QCD level assuming a typical LHC multipurpose forward detector. We use the Five-Flavor-Number Schemes (5FNS) with massless bottom quark assumption in the whole calculation. Our results show that the QCD NLO corrections can reduce the scale uncertainty. The typical K-factors are in the range of 1.15 to 1.2 which lead to the QCD NLO corrections of 15$$ to 20$$ correspond to the leading-order (LO) predictions with our chosen parameters.Comment: 41pages, 12figures. arXiv admin note: text overlap with arXiv:1106.2890 by other author

Urban–rural difference in the costs of disability and its effects on poverty among people with disabilities in China

The urban–rural difference in poverty is an important issue in China, particularly for people with disabilities. The extra costs of disability render this population susceptible to falling into poverty, where this can exacerbate the inequality among people with disabilities between urban and rural areas of the country. Previous studies have provided empirical evidence for the extra costs of disabilities in certain countries, but little scholarly attention has been devoted to the urban–rural gap in the costs of disability, particularly in countries like China that have a dual urban–rural system. This study explores changes in the extra costs of disability in China between urban and rural households with disabled members from 2008 to 2018 by using the standard of living approach. We apply the Foster–Greer–Thorbecke Poverty Index to measure the rates of poverty in urban and rural households with disabilities after considering the costs of disability. The results reveal that the costs of disability were not always lower for rural households than for urban households. At the same time, many rural households with disabled people were found to suffer from severe poverty owing to the high costs of their disabilities. The difference in health insurance and rehabilitation services between urban and rural China have led to an urban-rural gap in the costs of disability. This suggests that supplying more goods and services for disabled people in rural areas, especially free services, and raising the reimbursement due to them from their health insurance can help improve their standard of living

Optimization of Enzymatic Hydrolysis and Decolorization Process of Walnut Protein

This paper aimed at the high-value utilization of walnut cake, a by-product of oil processing industry. The walnut protein (WP) was extracted by alkali extraction-acid precipitation method from cold-pressed walnut cake, then trypsin hydrolysis process was optimized by single factor experiment and orthogonal design, with degree of hydrolysis (DH) as the indicator. Subsequently, the decolorization process of WP hydrolysate was optimized with protein recovery rate and decolorization rate as the indicators. The results showed that the extracted walnut protein was of high purity and could be used for further enzymatic hydrolysis and decolorization tests. After optimization, the DH of WP could be increased to 21.08% under the following conditions: the substrate concentration of 3%, the hydrolysis temperature of 55 ℃, the enzyme addition of 6 250 U/g protein, and the enzymatic hydrolysis time of 5 h. The optimal process of decolorization of walnut protease hydrolysate was obtained at an activated carbon addition of 1.2% (W/V), a pH of 4.5, a adsorption temperature of 45 ℃, and a decolorization time of 90 min. Under these conditions, the decolorization rate of walnut protease hydrolysate was 78.05%, protein recovery rate was 82.16%, and the combined weighted mean score was 80.11. The optimization process of trypsin hydrolysis and decolorization could provide some references for the development and utilization of walnut cake