Using the dynamic programming approach,the minimal entropy martingale measure is constructed by the utility indifference pricing,the minimal martingale measure and the variance-optimal martingale measures are given.

The explicit expressions of some special equivalent martingale measure are given,such as the minimal entropy martingale measure,the minimal reverse relative entropy martingale measure,the variance-optimal martingale measure and the minimal martingale measure.

A Risk Measure Model for Investment Project Based on Semivariance;

Through comparative and empirical analysis of the portfolio management based on the mean-variance model (the u-V Model) and (author s) semivariance model (the E-SV Model), this paper clears up obscurity of the u-V Model and the definition of risk and finally sheds light on the application significance of the E-SV Model in portfolio management analysis.

Optimal hedge ratio is estimated under different time scales by taking minimum semivariance as hedge target.

In order to make clear the spatial and temporal variation of SO_2 in China,the average annual concentration of SO_2 in key cities of 1990,1995 and 2000 was analyzed based on the geostatistics that mainly include semivariogram and kriging.

nigra plantation with different densities in the Farm of Xuejiazhuang Village in Datong, Shanxi, China, was estimated by applying the semivariogram theory of spatial statistics.

Using the panchromatic wave band of high spatial resolution remote sensing image-QuickBird as the data source, the crown of plantation White Bark Pine (Pinus bungeana) with relative high crown closure was accurately estimated by applying the semivariogram theory of spatial statistics.