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This paper considers the problem of minimizing a convex expectation function with a set of inequality convex expectation constraints. We propose a stochastic augmented Lagrangian-type algorithm—namely, the stochastic linearized proximal method of multipliers—to solve this convex stochastic optimization problem. This algorithm can be roughly viewed as a hybrid of stochastic approximation and the traditional proximal method of multipliers. Under mild conditions, we show that this algorithm exhibits O (K − 1 / 2) expected convergence rates for both objective reduction and constraint violation if parameters in the algorithm are properly chosen, where K denotes the number of iterations. Moreover, we show that, with high probability, the algorithm has a O (log (K) K − 1 / 2) constraint violation bound and O (log 3 / 2 (K) K − 1 / 2) objective bound. Numerical results demonstrate that the proposed algorithm is efficient. History: Accepted byAntonio Frangioni, Area Editor for Design & Analysis ofAlgorithms—Continuous. Funding: This work was supported by the National Natural Science Foundation of China [Grants 11971089, 11731013, 12071055, and 11871135]. Supplemental Material: The software that supports the findings of this study is available within the paper and its Supplementary Information [https://pubsonline.informs.org/doi/suppl/10.1287/ijoc.2022.1228] or is available from the IJOC GitHub software repository (https://github.com/INFORMSJoC) at http://dx.doi.org/10.5281/zenodo.6818229. [ABSTRACT FROM AUTHOR]

[Display omitted] • A model for multi-objective optimization operation of multiple water sources under uncertainties was proposed. • Uncertainties in inflow and water demand forecasts can be considered simultaneously, and the correlation between uncertainties can be considered quantitatively. • The impact of inflow-water demand forecast uncertainties and their correlations on water resource operations are explored for water resources managers. Uncertainties in inflow and water demand forecasts bring risks to water resources management. Therefore, the research on multi-objective optimization operation of multiple water sources under uncertainties holds critical research significance and application value. This paper proposes a model for the multi-objective optimization operation of multiple water sources that can consider the inflow and water demand forecast dual uncertainties. In handling uncertainties, this paper adopts a scenario generation method based on joint distribution-Monte Carlo (JDMC), which allows for a quantitative consideration of the correlation between uncertainties. Moreover, the variable weight method and LINGO 20.0 are employed for solving multi-objective optimization issues to obtain stable Pareto frontiers. The proposed model is applied to the water receiving area inside Jiangsu Province of the South-to-North Water Transfer East Route Project (SNWTERP) in China. The main findings are as follows: 1) The impact of the inflow and water demand forecast uncertainties on the operation results is synergistic rather than antagonistic. Considering only a single uncertainty may result in water receiving area facing more severe water shortages or purchasing spot water at high prices. 2) There is a strong spatial correlation between uncertainties. If we ignore or only qualitatively consider the correlation between uncertainties, the impact of uncertainties on operation results will be underestimated or overestimated. 3) The Pareto frontiers are convex functions, indicating that decision-makers should choose a solution in the middle part. [ABSTRACT FROM AUTHOR]

In this paper, we examine the information content of insider transactions in China and analyze how ownership structures shape market reaction to these transactions. We find that the cumulative abnormal return (CAR) to insider purchases is a convex function of the percentage of shares owned by the largest shareholder. Further, the CAR to insider purchases is lower when the largest shareholder is government-related, or when the control rights of the largest shareholder exceed its cash flow rights. We also find that the market reaction to insider purchases is more positive for firms audited by Big4 auditors. However, we do not find a significant relationship between an ownership structure and the market reaction to insider sales. Our results are remarkably robust to alternative model specifications, corporate insider identities, and recent corporate news releases on price-sensitive events. Finally, we show that market reaction to insider purchases is larger for firms with less severe expropriations, as captured by the use of other receivables. [ABSTRACT FROM AUTHOR]