Economic planning must be polycentric,not monocentric: Introduction to a symposium on Mises and Hayek on socialism and knowledge

The roaring (20-) 20s are a decade of anniversaries and milestones. 2020 was the 100th anniversary of Ludwig von Mises's seminal article “Economic Calculation in the Socialist Commonwealth” and the 75th anniversary of F.A. Hayek's seminal article “The Use of Knowledge in Society.” 2022 brought a series of significant anniversaries: the 100th anniversary of Mises's Socialism: An Economic and Sociological Analysis as well as the 60th anniversary of James M. Buchanan and Gordon Tullock's The Calculus of Consent: Logical Foundations of Constitutional Democracy, Milton Friedman's Capitalism and Freedom, and Murray Rothbard's Man, Economy, and State. It was also the 20th anniversary of Vernon Smith's Nobel Prize. The works and milestones celebrating anniversaries in 2022 owe much to Mises's and Hayek's pathbreaking contributions. This paper summarizes and contextualizes Mises's and Hayek's arguments about socialism and knowledge and introduces a Southern Economic Journal symposium on the anniversaries of “Economic Calculation in the Socialist Commonwealth” and “The Use of Knowledge in Society.”     

Culture,structure and development: An alternative perspective∗

This article sets out to explore the role of culture in development, and in particular the ways in which the relationship between culture and structure may influence possibilities of development By means of an analysis of theoretical problems inherent in the culture of poverty thesis, it attempts to identify some of the preconditions for a successful theory of culture and development. In particular attention is focused on the power relationships and inequalities between cultures within the context of the contemporary national state. A theoretical framework which utilises Ernest Gellner's theory of culture and nationalism in industrial societies is proposed, and some of the implications for development research and practice are considered.     

Monetary Policy and Borrowers’ Loan Defaults: Research Based on Data from Renrendai

This paper uses Renrendai data to study the relationship between monetary policy and the default behavior of borrowers, and analyzes the transmission channels. The research shows that tight monetary policy will lead to a significant increase in a borrower's probability to default, and this effect will continue for several months. There may be two transmission channels: (i) monetary policy changes a debtor's liquidity through credit and balance sheet channels, which directly affects their current repayment behavior; and (ii) monetary policy may affect a borrower's investment, production and profitability, thus changing their long‐term solvency. The paper also finds that the repayment behavior of productive borrowers is more susceptible to monetary policy than consumptive borrowers, and that the default behavior of borrowers in coastal provinces is more susceptible to monetary policy than of borrowers in inland provinces. These findings provide new evidence for understanding how monetary policy affects individual behavior and its transmission mechanisms.     

开展政策咨询，提高科技社团服务社会经济发展能力——美国物理学会的经验与启示

明确科技社团服务社会经济发展的内容和要求,以美国物理学会作为分析对象,重点对其参与政策咨询相关的活动进行分析,总结其先进经验及对我国科技社团的启示,希望为我国科技社团提高为社会经济发展服务的能力提供政策建议。     

Two Models of the Auditor - Client Interaction: Tests with United Kingdom Data*

Abstract. Accounting research contains two distinct approaches to the interaction between accounting management and the independent auditor. Game theory suggests that the auditor's testing strategy will affect the manager's reporting strategy and that the two strategies form an equilibrium. The game-theoretic approach views the auditor as active, in that the auditor acknowledges the effect that his or her testing strategy has on the manager's reporting. In contrast, in the decision-theoretic approach, the auditor tests reports, but ignores the effect that such testing might have on the manager's reporting behavior. Essentially, the decision-theoretic approach views the auditor as passive, taking the reporting strategy as given when designing tests. We use United Kingdom data to estimate both models and test their validity using nested hypothesis tests. Our results demonstrate that the active, game-theoretic model better describes the auditor-manager interaction. This is the first empirical validation of the game-theoretic model using archival accounting data.     

农村居民生活垃圾处理中的亲环境行为研究——以河南省文留镇为例

随着农村现代化进程的不断加快,农村的人居环境问题日益突出,农村人居环境的恶化严重制约了农村的城镇化发展。农村居民是农村生活垃圾处理的主体,只有农村居民提升自身的环保意识,才能让农村居民产生更加积极的亲环境意愿和行为。依据计划行为理论和规范激活理论的整合框架,运用结构方程模型分析方法。结果表明：农村居民亲环境态度、感知行为控制、主观规范、个人规范都对农村居民生活垃圾处理中的亲环境意愿产生正向的影响;后果意识和责任归属对个人规范产生正向的影响;亲环境意愿对亲环境行为产生正向的影响。以此提出相关对策建议来提升农村居民在生活垃圾处理中的亲环境意愿和行为。     

‘The rules of the game’: London finance,Australia, and Canada,c.1900–14

It is often asserted that, between 1865 and 1914, economic dependence on British capital subjected settler societies to an unofficial imperialism wielded by the City of London. This article argues that both advocates and critics of such models, particularly in the recent controversy over ‘gentlemanly capitalism’, pay insufficient attention to the City itself. Using the Edwardian City's connections with Australia and Canada, it illustrates the range of financial intermediaries involved and explores their perceptions of political economy in these countries. It concludes that the City's influence (or ‘structural power’) was limited by its internal divisions and hazy conceptions of political economy.     

北京市森林生态补偿政策对农户公益林保护行为的影响

基于计划行为理论分析北京市森林生态补偿政策对农户公益林保护行为之间的因果关系,重点探讨影响公益林保护农户行为的路径和因素。通过实证分析发现：北京市森林生态补偿政策对农户生态公益林保护行为的影响是间接的,其影响路径是森林生态补偿政策、农户行为态度、农户生态公益林保护意愿、农户生态公益林保护行为;北京市森林生态补偿政策因素通过其对农户生态公益林保护意愿及行为的影响是偏弱的,森林生态补偿政策中对农户行为所起的经济杠杆作用还有潜力可挖。     

China, Asia, and the World Economy： The Implications of an Emerging Asian Core and Periphery

I. IntroductionThe effect of China’s rapid growth on other Asian economies is felt most directly through itsimpact on international trade and foreign investment. However, not only is the magnitude of this impact uncertain, even its direction is disputed. Some authors emphasize that China’s emergence as an economic power is applying intense competitive pressure to its neighbors. China’s immense reserves of cheap labor enable it to out-compete neighboring economies in the production of low-…     

Alfred Marshall,Silver, and China

The paper provides an empirical investigation of Alfred Marshall's analysis of the silver flow mechanism between the West and the East, which maintains that silver will flow whenever there is a difference in its purchasing power. The results show that Marshall's analysis offers an empirically sound interpretation of changes in the price level in China and the silver flow across China's borders. The results also confirm that there was a high degree of international integration for China's internal and external prices of silver. Moreover, the stable purchasing power parity could in practice be maintained by silver flow without resorting to a substantial percentage of tradable goods.     

Modernization and dependency revisited: U.S. direct investment,development, and polity in Latin America, 1950–1998*

Since World War II, the modernization model has been the mainstream paradigm for economic development. Modernization assumes that foreign capital is a necessary catalyst for transforming societies from traditional to modem. Challenges to the modernization paradigm culminated in dependency theory. Dependency theorists point to detrimental effects of foreign capital and domination (e.g., income inequality, authoritarianism, and inappropriate consumption). Despite the charge by many scholars that this debate has subsided, basic but important questions remain to be answered. This paper assesses the role of U.S. direct investment (USDI) on the major economies of Latin America over time (1950–1998). Using Vector Autoregression, we look at the long‐term political relationships between USDI, economic development, and the degree of authoritarianism in the host country's government. We treat these variables as endogenous as both dependency and modernization hypothesize relationships among them. We find that there are only weak long‐term relationships between polity, development, and USDI. These results fully support neither the modernization nor the dependency model.     

MOOC网络的行为交互及影响因素研究

大规模开放课程已成为一种在线学习的新途径，探索学习者-课程交互关系网络的拓扑结构，对于提高学习者参与度和MOOC平台的活跃程度具有重要作用。研究随机爬取“中国大学MOOC”的学习者数据，利用复杂网络分析工具探究学习者的度分布演变，基于学习者的学习行为建模，提出学习者学习增益产出模型，并利用Pajek软件将二模网映射至学习者一模关系网；同时结合学习者的属性数据，构建属性数据各分量影响学习者参与课程度的回归模型。     

A Note on the Relation between Frames,Perceptions, and Taxpayer Behavior*

In this study, we incorporate taxpayers' threat /opportunity perceptions into our analysis of taxpayer behavior in order to refine and extend our understanding of the internal cognitive forces that shape taxpayer behavior. Decision‐making frames (that is, the gain and loss domains from the prospect theory value function) and individual perceptions (that is, perceptions of decision alternatives as being threats or opportunities) are both likely to influence behavior, yet prior research has generally ignored the behavioral effects of individual perceptions. The results of our experiment reveal that taxpayers who are due a tax refund (owe additional taxes) prior to considering a judgemental tax deduction tend to perceive the conservative (aggressive) tax deduction to be more of an opportunity/less of a threat. In turn, we find that taxpayer frames have a direct effect on taxpayer behavior and an indirect effect on behavior through their effect on taxpayers' threat/opportunity perceptions. Perhaps the most important message of this study is that researchers can advance our understanding of the internal cognitive processes that shape taxpayer behavior by incorporating taxpayer perceptions into their research designs.     

A view from behavioral political economy on China's institutional change

A behavioral political economy framework is built on the basis of prospect theory to explain the induced and imposed institutional changes during China's market reform, giving special attention to the integrated effects of economic and political institutions. According to prospect theory, how rulers frame their decisions — in the prospects of gains or losses, influences how much risk they will take. China's market reform has been largely framed in the prospects of economic gains, for which the continuously growing private sector is the driving force. China's central government adopts a growth-oriented incremental reform that coincides with the prediction of prospect theory.     

The Relation between Strategy,CEO Selection,and Firm Performance

We examine whether a firm's strategic priorities influence its selection of a new CEO and what conditions enable such an appointment to add value to the firm. More specifically, this study investigates the value‐adding effect when prospector firms (i.e., those pursuing a prospector‐type strategy) select a CEO with high social capital. We argue that uncertainty, driven by a firm's strategy, will determine the decision to select a CEO with high social capital; such CEOs can use their networks to mitigate the uncertainty and thus can be valuable to the firm. However, prior research indicates that CEOs with high social capital can engage in behavior detrimental to firm value. To mitigate the potential for this to occur, we assess whether corporate governance can play a role in prospector firms who appoint CEOs with high social capital. Drawing on archival data of CEO successions over a 14‐year period, we find that prospector firms have greater incentives to appoint CEOs with high social capital. We also find that prospector firms who appoint a CEO with high social capital improve their performance. Furthermore, the value‐adding effect of this selection choice is stronger in prospector firms with good corporate governance.     

员工组织地位感知对团队创新绩效影响的实证研究--建言行为与组织公正感的作用

文章基于社会交换理论,探讨了组织地位感知对团队创新绩效的影响机制和作用边界,运用层次回归分析法对361份有效问卷实证分析发现:组织地位感知对团队创新绩效及其两个子维度具有显著的正向影响;建言行为在组织地位感知对团队创新绩效及其两个子维度之间起着部分中介作用;组织公正感正向调节组织地位感知与建言行为关系;组织公正感进一步调节组织地位感知通过建言行为对团队创新绩效及其两个子维度的间接影响:当员工组织公正感水平较高时,建言行为对团队创新绩效及其两个子维度的正向效应会增强。     

Money Growth,Output Growth,and Inflation: A Reexamination of the Modern Quantity Theory's Linchpin Prediction

A testable implication of the modern quantity theory of money, when viewed as a theory of inflation, is the joint hypothesis that (i) there is a one-to-one positive relationship between inflation and the money stock growth rate, (ii) there is a one-to-one negative relationship between inflation and the aggregate output growth rate, and (iii) there are no other determinants of inflation besides the money stock and aggregate output expansion rates. This implication is the theory's linchpin prediction. A recent prior study published in this journal examines cross-country data and reports that this hypothesis cannot be rejected. The present study reexamines the prior study's data and finds that the joint hypothesis is decisively rejected, an unpleasant finding from a monetarist perspective. The article then goes on to propose an alternative to the prior study's model of the inflation process and reports findings that are, from the perspective of a monetarist, at least mildly pleasant.     

The Effects of Incentive Scheme and Task Difficulty on Employees' Altruistic Behavior Outside the Firm

Employer-sponsored opportunities for altruism outside the workplace can improve employee engagement and passion within the firm, enhance the firm's corporate visibility, and improve its recruitment. There is limited understanding of whether and how a firm's management control system on employees' daily tasks can influence employee willingness to engage in altruism outside the workplace. In this study, we investigate via an experiment how the incentive scheme (tournament vs. piece rate) on employees' daily tasks interacts with the difficulty level of these tasks (low vs. high) to affect employees' altruistic behavior outside the firm. Our results indicate that, compared to a piece-rate scheme, a tournament scheme leads to a greater decrease in non-winning participants' altruistic behavior outside the firm when the original, incentivized task is more difficult compared to when it is less difficult. Consistent with our theory, participants' feelings of excessive entitlement partially mediate the interaction effect of incentive scheme and task difficulty on participants' altruistic behavior outside the firm. This study informs firms about how the design of its incentive scheme on employees' daily task inside the firm and the nature of that task can influence employee willingness to act altruistically outside the firm.     

基于CAS理论的既有建筑节能改造市场发展的政府作用力演化机理研究

既有建筑节能改造市场健康发展离不开政府科学有效的引导，为探究既有建筑节能改造市场发展中政府作用力演化的内在机理，在界定政府作用力基本内涵与特征分析的基础上，结合复杂适应系统（Complex Adaptive System，CAS）理论，重点剖析了既有建筑节能改造市场政府作用力的CAS特性及其演化机理，得出政府作用力在执行系统、信用分派和规则发现三大重要机制的作用下，随市场发育程度的上升，政府作用力将从市场起步阶段的推动力动态演化成为成熟阶段的引擎力。     

Controls and Cooperation in Interactive and Non‐Interactive Settings

Prior research finds that controls that induce cooperation among collaborators on a project increase trust, and that this increased trust increases subsequent cooperation among collaborators. We extend this work by investigating how controls influence cooperative behavior in two settings. The first is an interactive setting where people work together and can benefit from each other's work. The second is a non‐interactive setting where people do not work together directly but where behavior can be observed. We propose that because controls are likely to engender greater trust and reciprocity in interactive settings than in non‐interactive settings, the effect of controls on future cooperative behavior will be greater for controls in interactive settings than for controls in non‐interactive settings. We find that controls in both settings increase future cooperative behavior, but the effect is significantly greater in interactive settings (where reciprocity and trust are more likely to develop). Furthermore, this increased cooperation is observed in an uncontrolled task, suggesting that the control fosters trust in others rather than trust in the control. These findings suggest that the benefits of controls are more substantial in work environments characterized by extensive teamwork and where employees benefit from each other's work.