Subjective Uncertainty over Behavior Strategies: A Correction

In order to model the subjective uncertainty of a player over the behavior strategies of an opponent, one must consider the player's beliefs about the opponent's play at information sets that the player thinks have probability zero. This corregendum uses “trembles” to provide a definition of the convex hull of a set of behavior strategies. This corrects a definition we gave in [E. Dekel, D. Fudenberg, and D. K. Levine, 1999, J. Econ. Theory89, 165-185], which led to two of the solution concepts we defined there not having the properties we intended. Journal of Economic Literature Classification Numbers: C72, D82, C610.     

养老保险基金安全运行的风险因素分析

目前中国养老保险基金运行中存在着一定风险，为确保养老保险基金的安全运行，需要完善养老保险法律体系、建立财政对养老保险基金的拨付机制、探索高效的基金运营管理体制，以及强化养老保险信息化建设等。     

电子商务物流研究

电子商务交易过程一般都包含信息流、资金流和物流。从目前来看,信息流、资金流都可以解决,而物流没能解决。本文从物流的产生、现状、研究的内容等方面阐述电子商务物流存在的问题,从核心业务竞争力、客户关系管理、个性化设计、物流配送和多元化服务等方面研究如何提升物流企业竞争力。     

基于高频数据的深圳基金市场日内周期性研究

本文利用深市基金指数高频数据,采用Anderson和Bollerslev(1997)提出的弹性傅立叶回归(FlexibleFourierFormregression,即FFF回归)方法首次对深市基金市场进行了日内周期性的研究。通过对高频收益的定性分析,发现基金市场具有同股票市场相似的周期性,并对这一周期性进行了初步的理论解释。通过FFF方法,将该周期因子进行滤波处理以后,基金指数高频绝对收益不再具有明显周期性。FFF回归能较好地确定日内周期因子。     

铁路运输向现代物流发展的分析与对策

分析我国铁路运输向现代物流发展的必要性及其所具备的优势，并针对目前铁路运输存在的问题．提出其向现代物流发展的对策和建议，     

Mixed Equilibrium in a Downsian Model with a Favored Candidate

This paper examines competition in the standard one-dimensional Downsian model of two-candidate elections, but where one candidate (A) enjoys an advantage over the other candidate (D). Voters' preferences are Euclidean, but any voter will vote for candidate A over candidate D unless D is closer to her ideal point by some fixed distance δ. The location of the median voter's ideal point is uncertain, and its distribution is commonly known by both candidates. The candidates simultaneously choose locations to maximize the probability of victory. Pure strategy equilibria often fail to exist in this model, except under special conditions about δ and the distribution of the median ideal point. We solve for the essentially unique symmetric mixed equilibrium with no-gaps, show that candidate A adopts more moderate policies than candidate D, and obtain some comparative statics results about the probability of victory and the expected distance between the two candidates' policies. We find that both players' equilibrium strategies converge to the expected median voter as A's advantage shrinks to 0. Journal of Economic Literature Classification Numbers: C72, D72.     

Managing the international commons: Resource use and pollution control

The simultaneous management, in an international context, of free-access renewable resources and transboundary pollution, is examined in a dynamic game framework. First-best outcomes under international cooperation are determined and compared to noncooperative outcomes when countries follow linear Markov strategies. An international policy consisting of taxes on emissions and harvesting, with international redistribution of tax receipts, is used to achieve the cooperative solution. In addition, side payments may be required to prevent free riding and thus make the international policy implementable.Earlier versions of this paper were presented at the International WorkshopEconomic Aspects of International Water Resources Utilization in the Mediterranean Basin, Fondazione ENI Enrico Mattei, Milan, October 1993, and the Fifth Annual Conference of EAERE, Dublin, June 1994. I would like to thank Peter Berck, Charles Kolstad, Mordechai Schechter, and two anonymous referees for their valuable comments.     

Evolution of momentum and popularity

In this paper, the evolutionary behavior of two types of investor in a capital market with two risky competing securities is investigated. It is shown that, if all investors are momentum-oriented, then only those who are the most sensitive to popularity will survive. Conversely, if all investors are popularity-oriented, then they will all invest in the same security.     

企业平衡增长管理策略研究

企业平衡增长作为一种超越增长不足或增长过度的理想增长状态,几乎是所有企业追求的目标。然而,企业能否平衡增长不仅受企业经营和财务两方面诸多因素的制约,同时还与企业所处的发展阶段密不可分。根据平衡增长理论模型,结合企业不同发展阶段的特征,企业可以通过提高资产报酬率,改变企业的目标资本结构或股利政策,调整实际增长率等策略解决企业成长和成熟阶段平衡增长的矛盾。     

浙江省水利投融资的分析

在剖析了浙江省近年水利资金投向结构及水利建设资金来源构成的基础上，对浙江水利资金投向结构发生变化的原因以及浙江水利融资的特点进行了分析研究，提出了今后稳定水利投资规模的对策和建议。