硫酸溶解法从废石油催化剂中回收铂

试验用硫酸溶解氧化铝基体,使铂得到富集而从石油催化剂中回收铂。同时,用金属铝作还原剂,采用置换沉淀法回收部分溶解在硫酸溶液中的铂。研究了溶解温度、溶解时间、硫酸浓度和固液比对基体溶解率的影响。当铂催化剂基体为γ-Al2O3时,在6.0mol/L硫酸、100℃、2h条件下,大约95%的氧化铝溶解。当基体为γ-Al2O3和α-Al2O3的混合物时,在4h后大约92%的氧化铝溶解。此法可回收99%以上的铂及副产品硫酸铝。     

For fun and profit: Hedonic value from image interactivity and responses toward an online store

With the use of an on‐line retailer's Web site and an experimental method with 103 university students, statistical support through path analysis was found for positive influences of optimum stimulation level (preferred level of environmental stimulation) and recreational shopping on hedonic value (trying an image‐interactivity feature of an apparel Web site as a stimulating experience). The Web site's mixandmatch image interactivity feature allowed creation of visual images of product combinations. The path‐analysis model revealed significant paths between hedonic value and resulting emotional pleasure and arousal variables. A pattern of significant paths was also found between these three variables and global attitude, willingness to purchase, and willingness to patronize the on‐line store. Theoretical and managerial conclusions are provided. © 2005 Wiley Periodicals, Inc.     

A consistent nonparametric test for nonlinear causality—Specification in time series regression

Since the pioneering work by Granger (1969), many authors have proposed tests of causality between economic time series. Most of them are concerned only with “linear causality in mean”, or if a series linearly affects the (conditional) mean of the other series. It is no doubt of primary interest, but dependence between series may be nonlinear, and/or not only through the conditional mean. Indeed conditional heteroskedastic models are widely studied recently. The purpose of this paper is to propose a nonparametric test for possibly nonlinear causality. Taking into account that dependence in higher order moments are becoming an important issue especially in financial time series, we also consider a test for causality up to the Kth conditional moment. Statistically, we can also view this test as a nonparametric omitted variable test in time series regression. A desirable property of the test is that it has nontrivial power against T^1/2-local alternatives, where T is the sample size. Also, we can form a test statistic accordingly if we have some knowledge on the alternative hypothesis. Furthermore, we show that the test statistic includes most of the omitted variable test statistics as special cases asymptotically. The null asymptotic distribution is not normal, but we can easily calculate the critical regions by simulation. Monte Carlo experiments show that the proposed test has good size and power properties.     

Does Consumers' Feeling Affect Their Quality of Life? Roles of Consumption Emotion and Its Consequences

Emphasizing the importance of attendees' consumption emotion, this study investigates the impact of festival attendees' consumption emotion on their psychological outcomes such as satisfaction, perceived quality of life and loyalty toward the festival. Structural equation modeling is used to test the dynamics of festival attendees' consumption behavior and its consequences. Results of this study indicate that festival attendees' emotional behavior has a positive relationship with their overall satisfaction, which is identified as a key predictor for their loyalty and quality of life. The study's theoretical contributions and practical implications are discussed in detail along with its limitations. Copyright © 2014 John Wiley & Sons, Ltd.     

An evaluation of incentive regulation for electric utilities

This empirical study examines the determinants and impacts of incentive regulations introduced by utility commissions in the late 1970s and early 1980s. Rewards for generating plant utilization and low heat rates were found to have been introduced in states whose firms exhibited relatively high managerial slack (or relatively higher costs). However, the empirical results did not find that the introduction of specific cost component incentives improved overall operating cost performance.     

Attracting the Rival’s Customers in a Model with Switching Costs

We consider the option of a firm’s honouring the rival’s coupons in a duopoly model in which products are differentiated by both characteristics and a switching cost. A firm may honour its rival’s coupons to increase its market share only if its previous market share is less than one‐half but not too low and, as a result, the market share is increased but only up to one‐half. JEL Classification Number: D13.     

Does XBRL Adoption Constrain Earnings Management? Early Evidence from Mandated U.S. Filers

We examine whether the use of eXtensible Business Reporting Language (XBRL) for financial reporting (i.e., interactive data submissions) reduces earnings management during the period of XBRL implementation by the SEC. Using a sample of mandated XBRL filers, we compare the magnitude of absolute discretionary accruals in the XBRL adoption quarters with that in the non‐adopting quarters. We also take advantage of staggered (three‐stage phase‐in) XBRL implementations to perform difference‐in‐differences analyses. Our results show that absolute discretionary accruals decrease significantly from the pre‐ to the post‐XBRL period, suggesting that XBRL adoption constrains earnings management via discretionary accrual choices. Our analyses further reveal that the use of standardized official XBRL elements significantly reduces the levels of discretionary accruals, while the use of customized extension elements does not, suggesting that the former discourages accrual‐based earnings management, while the latter does not. Our results are robust to a variety of sensitivity checks.     

On the core of auctions with externalities: stability and fairness

In auctions with externalities, it is well-known that the core can be empty, which is undesirable both in terms of stability and “fairness.” Nevertheless, some auction outcome must be chosen. We separate deviations into two types: deviations by paying more and deviations by refusing to pay. In high-stakes auctions where bidders also care about their reputation, the latter are unlikely to occur, or else can be prevented by legal interventions. In contrast, the former is more undesirable in the sense that the seller and the bidders experience justified envy. We show that the core is nonempty if bidders cannot refuse to pay.