经济人何以成为经济学之硬核：思想史的端倪

经济人之所以会成为现代主流经济学的硬核,从思想史的角度看,主要有两个重要的分水岭。一是,斯密关于“无形的手”之“预定协调”的观点赋予了自利行为的合理性,从而使得“自利”为后来的主流经济学家所片面强调,乃至赋予了个体行为以效用最大化这一偏至诉求。二是,边沁关于效用加总的功利主义原则赋予了个体效用的计量性,从而使得“效用”为后来主流经济学所普遍接受,乃至进一步发展了基于理性计算的数理模型化分析。显然,正是两者的结合,为经济人假设的出现及其在经济学中的支配地位奠定了思想史的基础。     

机动车手动式刹车机构的改进设计

为了使机动车在工作过程中,刹车稳定、可靠、敏捷,论文对某种型号机动车的手动式刹车机构进行了改进设计,应用后达到了刹车稳定、可靠、敏捷的目的,同时,延长了机构的使用寿命,减少了不安全的因素,保障了人们的财产及生命安全。目前,该种型号的机动车已销往国内外,得到用户认可,提高了企业的社会声誉,创造了很高的经济效益,该机构具有极高的实用性及推广价值。     

谈职业学校名师培养模式的理论基础与依据

名师培养模式作为职业学校教师教育的重要途径与形式之一,对教师教育和引导、职业学校的改革与发展产生了积极的作用与影响。根植于深厚的教育学、心理学、管理学理论土壤,使得名师培养模式的理论基础非常扎实,这些基本理论也成为了该模式的创建和实施的依据。上述理论从不同的维度对名师培养模式的内涵、价值、机制等问题进行了解答,提供了有力的理论支撑。除此之外,相关的名师培养实践活动也提供了宝贵的参考和借鉴,从实践的角度进行了直观的阐释和说明,通过具体的实例为名师培养模式的整体规划(可行性、基本流程、效果反馈等)提供了依据。     

ON THE DELIBERATE CENTRALITY OF AN INVISIBLE HAND: REPLY TO GAVIN KENNEDY,RYAN HANLEY AND CRAIG SMITH

We previously showed that ‘led by an invisible hand’ was physically central in original editions of The Theory of Moral Sentiments and The Wealth of Nations. We suggested that Adam Smith did that deliberately. Three authors commented on our paper, Gavin Kennedy, Ryan Hanley and Craig Smith. In this article we reply to their comments.     

现货组合跟踪指数过程的行业筛选应用研究

主要研究股指期货期现套利中现货组合对目标指数的非完全复制方法。在现货组合的构建过程中创新性提出了与分层抽样法不同的行业筛选方法,目的在于使现货组合获得跟踪指数为正的误差。研究发现,采用权重筛选的现货组合的单日指数跟踪误差较小,指数型基金的单日跟踪误差最大;指数型基金累积跟踪误差效果相对较好,而权重筛选的现货组合波动幅度较大,增加了股指期货期现套利的风险;实证证明,合理进行行业筛选的现货组合可以实现累积收益率差为正,最终可以使套利者获得超额收益。     

对"吉芬商品"的重新解释及实证分析

“吉芬商品”作为一种反常的经济现象，引起了众多经济学家的兴趣。在西方传统的经济学理论中，对其做出了较为详细的解释。笔者通过对反常经济现象的观察和思考，利用凯恩斯经济学中最基本的供需曲线对其做了全新的解释，并且通过对深圳市房地产市场的实证分析，进一步验证了新解释的可靠性。     

Does the invisible hand hold or lead? Market adjustment in an entrepreneurial economy

Adam Smith's “invisible hand” is one of the best-known phrases in economics, but its meaning is somewhat ambiguous. The invisible hand might be viewed as holding the economy close to equilibrium, yet Smith actually says that individuals are led by an invisible hand. Entrepreneurial forces lead an economy along a path that generates economic progress, and that path is determined by the disruptive forces of entrepreneurship. Rather than viewing an economy as tending toward an equilibrium, it is more accurate to view an economy as characterized by continuing progress, led by the invisible hand of entrepreneurial activity. JEL Code B53, D21, E32, O31     

经济秩序的自发建构 --"看不见的手"与市场经济的本质

透过“看不见的手”的隐喻，斯密揭示出市场经济的本质：一定约束之下，基于理性个体的自由行动自发建构并演进扩展而出的经济秩序。从斯密所处时代的问题出发，结合哈耶克“自发秩序”的演进主义视角，可以探讨该隐喻的理论背景、内涵外延及形态发展等，并通过比较中国改革开放以来形成的氛围背景与斯密时代的相似性，指出这种经济秩序自发建构的思想对于中国市场化改革和市场经济体制完善所具有的重要启示和意义。     

What’s Causing Overreaction? An Experimental Investigation of Recency and the Hot‐hand Effect

A substantial body of empirical literature provides evidence of overreaction in markets. Past losers outperform past winners in stock markets as well as in sports markets. Two hypotheses are consistent with this observation. The recency hypothesis states that traders overweight recent information; they are too optimistic about winners and too pessimistic about losers. According to the hot‐hand hypothesis, traders try to discover trends in the past record of a firm or a team, and thereby overestimate the autocorrelation in the series. An experimental design allows us to distinguish between these hypotheses. The evidence is consistent with the hot‐hand hypothesis.     

The Invisible Hand of James Madison

Scholars have disagreed about how to interpret James Madison's Federalist essays 10 and 51, in which he explains and justifies the underlying principles of the new Constitution. Was Madison the architect of a structure of counterpoise, which would force individuals, interests, and institutions to obstruct one another so as to avoid tyranny, or was he a republican statesman, designing a system that would recruit virtuous citizens to public office? I argue that these clashing interpretations can be reconciled by viewing Madison as a theorist who was applying Adam Smith's economic concepts to political phenomena By putting into practice Smith's insight that competition among self-interested actors can achieve the public interest, Madison incorporated both umpired strife and virtuous citizenship into the meta-principles of the Constitution.