Optimal investment and consumption decision of a family with life insurance

We study an optimal portfolio and consumption choice problem of a family that combines life insurance for parents who receive deterministic labor income until the fixed time T. We consider utility functions of parents and children separately and assume that parents have an uncertain lifetime. If parents die before time T, children have no labor income and they choose the optimal consumption and portfolio with remaining wealth and life insurance benefit. The object of the family is to maximize the weighted average of utility of parents and that of children. We obtain analytic solutions for the value function and the optimal policies, and then analyze how the changes of the weight of the parents’ utility function and other factors affect the optimal policies.     

Ideal-Symmetric and Semiprime Rings

Lambek extended the usual commutative ideal theory to ideals in noncommutative rings, calling an ideal A of a ring R symmetric if rst ∈ A implies rts ∈ A for r, s, t ∈ R. R is usually called symmetric if 0 is a symmetric ideal. This naturally gives rise to extending the study of symmetric ring property to the lattice of ideals. In the process, we introduce the concept of an ideal-symmetric ring. We first characterize the class of ideal-symmetric rings and show that this ideal-symmetric property is Morita invariant. We provide a method of constructing an ideal-symmetric ring (but not semiprime) from any given semiprime ring, noting that semiprime rings are ideal-symmetric. We investigate the structure of minimal ideal-symmetric rings completely, finding two kinds of basic forms of finite ideal-symmetric rings. It is also shown that the ideal-symmetric property can go up to right quotient rings in relation with regular elements. The polynomial ring R[x] over an ideal-symmetric ring R need not be ideal-symmetric, but it is shown that the factor ring R[x]/xⁿR[x] is ideal-symmetric over a semiprime ring R.     

Circulant Double Coverings of a Circulant Graph of Valency Four

Several isomorphism classes of graph coverings of a graph G have been enumerated by many authors (see [3], [8]–[15]). A covering of G is called circulant if its covering graph is circulant. Recently, the authors [4] enumerated the isomorphism classes of circulant double coverings of a certain kind, called typical, and showed that no double covering of a circulant graph of valency 3 is circulant. In this paper, the isomorphism classes of connected circulant double coverings of a circulant graph of valency 4 are enumerated. As a consequence, it is shown that no double covering of a non-circulant graph G of valency 4 can be circulant if G is vertex-transitive or G has a prime power of vertices. The first author is supported by NSF of China (No. 60473019) and by NKBRPC (2004CB318000), and the second author is supported by Com²MaC-KOSEF (R11-1999-054) in Korea.     

A Classification of Regular Embeddings of Graphs of Order a Product of Two Primes

In this paper, we classify the regular embeddings of arc-transitive simple graphs of order pq for any two primes p and q (not necessarily distinct) into orientable surfaces. Our classification is obtained by direct analysis of the structure of arc-regular subgroups (with cyclic vertex-stabilizers) of the automorphism groups of such graphs. This work is independent of the classification of primitive permutation groups of degree p or degree pq for p q and it is also independent of the classification of the arc-transitive graphs of order pq for p q.     

Classification of reflexible regular embeddings and self-Petrie dual regular embeddings of complete bipartite graphs

In this paper, we classify the reflexible regular orientable embeddings and the self-Petrie dual regular orientable embeddings of complete bipartite graphs. The classification shows that for any natural number n, say (p₁,p₂,…,p_k are distinct odd primes and a_i>0 for each i?1), there are t distinct reflexible regular embeddings of the complete bipartite graph K_n,n up to isomorphism, where t=1 if a=0, t=2^k if a=1, t=2^k+1 if a=2, and t=3·2^k+1 if a?3. And, there are s distinct self-Petrie dual regular embeddings of K_n,n up to isomorphism, where s=1 if a=0, s=2^k if a=1, s=2^k+1 if a=2, and s=2^k+2 if a?3.     

On translation lengths of Anosov maps on the curve graph of the torus

Geometriae Dedicata - We show that an Anosov map has a geodesic axis on the curve graph of the torus. The direct corollary of our result is the stable translation length of an Anosov map on the...     

Game theoretic analysis of the bargaining process over a long-term replenishment contract

This paper presents supplier–buyer models to describe the bargaining process between a supplier and a buyer over a long-term replenishment contract. Two different models are developed: one for the situation where the supplier has superior bargaining power over the buyer, and the other for the reverse situation. For each model, a method is derived that employs game theory-based analysis to determine the best strategy for each agent. A computational experiment is conducted to estimate the efficiency of the methods and to determine the economic implications of the results. The result indicates that each algorithm is very efficient compared to other strategies. We also verify that the solutions derived from each model are Nash equilibrium. Significantly improved outcomes are obtained for both agents by agreeing to the terms generated by the algorithms over the terms selected in the usual manner.