The Theory of Socially Embedded Games: Applications and Extensions to Open and Closed Games

An earlier article, drawing on the mathematical theory of rules and rule complexes, extends and generalizes game theory (GGT). The theory has been used to conceptualize and analyze diverse social relationships, roles, and games as particular types of rule complexes.For instance, a social role, as a major basis of a parent's action in a game, consists of at least four key components – which are mathematical objects – in the determination of action: value complex, model of reality (including beliefs and knowledge bases), a repertoire of acts, routines, programs, and strategies, and modality, a role-specific algorithm for determining or generating action in game settings. This article applies and extends GGT in analyses of a market bargaining game (a type of open game) and of the classical game of prisoners' dilemma (a type of closed game). The applications show the concrete effects of social embeddedness on game structuring, game interaction patterns and outcomes, and social equilibria.     

The Challenge Facing SMEs in the Eu’s New Member States

The paper considers the main threats and opportunities for SMEs in new member states, arising out of EU membership, including the implications for SMEs at the micro level. Whilst accession-related changes have important potential implications for firms of all sizes, the distinctive size-related characteristics of SMEs affect their ability to identify, cope with and respond to new sources of threat and opportunity. These potential impacts face new member countries at a relatively early stage in the development of market-based systems, which still contain many deficiencies (particularly in institutional terms) and a SME sector with many characteristics that reflect its fledgling status.     

Director expertise and co-option in industry superannuation funds?

This study examines whether independent directors who possess financial expertise and are independent from the CEO (i.e., non-co-opted) are associated with improved outcomes for industry superannuation funds. Our results highlight that independence alone is insufficient to improve fund outcomes. Instead, we find that only non-co-opted independent directors benefit fund members in terms of higher performance and lower fees. Moreover, we find that independent directors' financial expertise is not associated with fund performance and fees. Our study has implications for regulators and superannuation funds who are currently debating the need for one-third independent directors on the board of Australian superannuation funds.     

从传统向现代的裂变——高职思想政治理论课改革的必由之路

高职思想政治理论课长期处于不受重视的地位,要改变这种处境,必须深入改革,切实提高教学实效性。通过直面社会现实,联系学生实际,触动心灵情感,来改变“假大空”形象;通过自我教育、主动探索、亲身实践、扩展教育阵地,来与传统教学方法决裂。在从传统向现代的裂变过程中,教师无疑是推动这一改革的主导力量。     

加入WTO后我国对外贸易的外汇风险防范

我国加入WTO后,按照世界贸易组织的相关规定,企业有了外贸经营权.那么,如何面对开放的国际市场,做好汇率预测工作,避免和减少因汇率波动而造成的企业利润减损,具有十分重要的意义.企业应学会选择有利的交易计价货币,并在贸易中适当调整商品价格,还可以利用货币保值条款进行保值.任何外汇风险的防范手段都是基于对外汇汇率走势的准确预测,只有尽快建立相应的研究机制在实践中摸索学习,才能应对国际市场的挑战.     

高校践行代表先进文化的要求之我见

高等院校作为党领导下的传承知识、智慧和文明的园地 ,在践行代表先进文化方面责任重大。高校必须大力弘扬科学精神 ,推进社会主义精神文明建设 ;培养学生的创新精神 ;加强高校的理论研究 ,增强针对性和可行性 ,推进科教兴国。     

论现代企业的文化管理

从企业文化管理在现代企业中日益发挥的巨大作用入手,就我国现代企业文化管理的理念、文化管理的方法以及进行文化建设等方面进行了初步探讨。     

Optimal exercise of American put options near maturity: A new economic perspective

Review of Derivatives Research - The critical price $$S^{*}\left( t\right) $$ of an American put option is the underlying stock price level that triggers its immediate optimal exercise. We provide...     

Environmental Regulation and Substitution Between Sources of Pollution: An Empirical Analysis of Florida’s Storage Tanks

Stringent and very specific environmental regulations may spur behavioral responses by the regulated entities that can offset the intended pollution control goals. I empirically examine the effects of regulating underground storage tanks for petroleum products and hazardous substances, focusing on their possible substitution or complementarity with a less stringently regulated alternative, aboveground tanks. Longitudinal county-level tank data from Florida reveal that the relationship between underground and aboveground tanks changed, from one of complementarity to one of substitution, after the regulations were issued. Tank installations are affected by resident characteristics that enter in the firms calculus of the damages from leaks.     

Assessing Voluntary Programs to Improve Environmental Quality

The last decade has seen a dramatic increase in the use of voluntaryapproaches (VAs) to environmental protection, which has spurned agrowing literature on the relative merits of voluntary vs. mandatoryapproaches. This paper draws on that literature to discuss both thetheoretical and empirical issues that arise in the evaluation orassessment of a particular VA. We consider both the environmentaleffectiveness and the efficiency of this policy approach. Our aim is toaid policymakers in evaluating a specific program or in thinking aboutthe use and design of a VA. We identify some key features that arelikely to increase both the effectiveness and the efficiency of VAs.