We show that the many unusual features of China's financial markets are consistent with a government choosing regulations to maximize a standard type of social welfare function.Under certain conditions, these regulations are equivalent to imposing explicit taxes on business and interest income, yet should be much easier to enforce. The observed implicit tax rates are broadly in line with those observed in other countries. The theory also forecasts, however, that China will face increasing incentives over time to shift to explicit taxes.
Railways are greatly threatened by geological hazards whose disastrous effects include severe economic losses as well as serious casualties. It is vital to properly account for such geological hazardous impacts during a railway alignment optimization process. However, geological factors are complex, especially in mountainous regions. Besides, economic factors are also crucial in railway alignment design. Therefore, railway alignment optimization can be termed as a cost-hazard bi-objective decision-making process. So far, least-cost railway alignment optimization has been studied quite thoroughly while the complicated geological hazard factors have received relatively little attention. In this study, a bi-objective alignment optimization model considering cost and geological hazard is developed. A novel geological railway alignment optimization model is proposed, which includes spatial geological constraints and geological hazard evaluations, after geological railway alignment design criteria are presented and analyzed for three kinds of typical geological hazards: debris flows, landslides, and rockfalls. The geological hazard evaluation includes geological susceptibility and vulnerability assessments. Then, this model is integrated with a previous least-cost alignment optimization model to construct a cost-hazard bi-objective model. The alignment searching processes are also improved to solve the proposed model by integrating geological-constraints-handling and bi-objective alignment optimization approaches. Finally, the effectiveness of the proposed method is verified by applying it to a complicated real-world case. The results show that the proposed method can produce less expensive and safer solutions than the best alignment designed by experienced human designers while satisfying all required design standards. Moreover, the method's applicability for solving actual problems is further demonstrated through the sensitivity analysis. 1 INTRODUCTION Geological hazards greatly threaten the construction and operation of railways. Their disastrous effects include not
The urban rail transit line operating in the express and local train mode can solve the problem of disequilibrium passenger flow and space and meet the rapid arrival demand of long-distance passengers. In this paper, the Logit model is used to analyze the behavior of passengers choosing trains by considering the sensitivity of travel time and travel distance. Then, based on the composition of passenger travel time, an integer programming model for train stop scheme, aimed at minimizing the total passenger travel time, is proposed. Finally, combined with a certain regional rail line in Shenzhen, the plan is solved by genetic algorithm and evaluated through the time benefit, carrying capacity, and energy consumption efficiency. The simulation result shows that although the capacity is reduced by 6 trains, the optimized travel time per person is 10.34 min, and the energy consumption is saved by about 16%, which proves that the proposed model is efficient and feasible.
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