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Currently, the most
important issue with respect to financial institutions is how to motivate staff
without providing perverse incentives. For instance, with the implementation of
a proper incentive system, staff will be motivated via their self-interest to
create financial innovations to better price and hedge risk. However, this
system must also be designed with checks and balances in mind because it is
also very easy to institute a system in which perverse incentives drive individual
behavior. In an effort to modernize the Chinese financial system, it is
important to understand both the underlying mechanism by which people respond
to incentives to better design compensation schemes that maximize innovation.
Utilizing game theory, it is possible to analyze the interplay between these
two drivers of human action. From this analysis it becomes possible to design
better ways of compensating staff to curb undesirable behavior by those in the
financial industry while still promoting innovation within the field.
Wound-field Doubly Salient Generator (WFDSG)
has the outstanding advantages of simple structure, high reliability and
controllable excitation. However, there exists obvious torque ripple in
generator’s input torque, which has restricted its applications. Based on the
concept of electromagnetic torque of WFDSG, the nonlinear formula under no load
condition has been derived. Furthermore, it is proved to be reasonable
theoretically in comparison with linear and approximate nonlinear formulas.
Based on the 12/8 salient prototype, the correctness of nonlinear formula has
been verified by comparing the results of virtual displacement method with the
results of finite element analysis. At last, the simulation results have been
validated by experiments.