A generalization of Condorcet’s Jury Theorem to weighted voting games with many small voters

We extend Condorcet’s Jury Theorem (Essai sur l’application de l’analyse à la probabilité des décisions rendues à la pluralité des voix. De l’imprimerie royale, 1785) to weighted voting games with voters of two kinds: a fixed (possibly empty) set of ‘major’ voters with fixed weights, and an ever-increasing number of ‘minor’ voters, whose total weight is also fixed, but where each individual’s weight becomes negligible. As our main result, we obtain the limiting probability that the jury will arrive at the correct decision as a function of the competence of the few major players. As in Condorcet’s result the quota q = 1/2 is found to play a prominent role. I wish to thank Maurice Koster, Moshé Machover, Guillermo Owen and two anonymous referees for helpful comments.     

刍议虚拟财产的法律保护

随着网络,尤其是网络游戏的迅猛发展,虚拟财产的交易及其保护引发了是否要对其加以保护,如何进行保护,如何进行规范等一系列问题,在我国的司法实践中已经不得不开始面对这类纠纷的裁判,而在法律上有关虚拟财产的规则尚处于不确定的空白,给这类纠纷的解决带来了很大的障碍,基于此,进行虚拟财产特性、交易等等相关法律问题的研究,并在探讨其合法性的前提下,进一步论证虚拟财产的法律保护规则的建构具有十分重要的理论意义与现实意义。     

Background Risk and the Performance of Insurance Markets under Adverse Selection

Background risk can influence the performance of insurance markets that must deal with adverse selection when applicants are risk vulnerable, since they are more averse to bearing the insurable risk as a result of their exposures to background risk. We show that background risk always results in a lower deductible for the incentive constrained contract, and that a broader range of markets attains the stable sequential equilibrium cross-subsidized pair of separating contracts. We conclude that background risk always improves the performance of markets for coverage against (insurable) foreground risks that must deal with adverse selection. We also find, however, that these improvements are never sufficient to offset the cost to insureds of bearing the background risk.     

不尽的华宇传奇

一个自称“没文化”的纺织下岗女工，更谈不上通晓企业发展战略和管理理论，但是她带领着华宇所走的每一步都与优秀的成功企业走过的轨迹十分吻合     

加速度的中国队

1金1铜.中国帆船帆板队在本届奥帆赛中的表现可谓"圆满".首先是徐莉佳以超常的发挥在激光镭迪尔的比赛中摘得铜牌,这也是中国队在帆船项目上的第一枚奥运奖牌,在某种意义上它的分量几乎等同于金牌.     

河南省农业可持续发展战略研究

农业的可持续发展已经成为当今世界农业发展的一种新战略,无论是发达国家,还是发展中国家都在积极研究符合自己国情的农业可持续发展模式。文章从河南省农业可持续发展的紧迫性与必要性研究出发,探讨了河南省农业可持续发展的战略指导思想及其战略目标,并提出了河南省农业可持续发展的对策与措施,以期为区域农业可持续发展研究提供参考。     

Futures market equilibrium under Knightian uncertainty

This paper examines the effects of Knightian uncertainty on a commodity futures market within the Newbery‐Stiglitz framework. It is shown that Knightian traders act more conservatively. In a partial trade equilibrium, risk aversion and Knightian uncertainty have qualitatively similar effects on the equilibrium price and the equilibrium trading volume. Full‐trade and no‐trade equilibria are likely to prevail when the producer and the speculator incur different Knightian uncertainty. Herein different impacts of risk aversion and Knightian uncertainty are observed. © 2003 Wiley Periodicals, Inc. Jrl Fut Mark 23:701–718, 2003     

Provincial Motor Vehicle Taxation in Indonesia

Vehicle-based taxes are collected by provincial governments in Indonesia and constitute their most important source of locally collected revenue. This paper evaluates the structure and revenue performance of the two vehicle-based taxes–-the vehicle registration tax and the vehicle transfer tax–-focusing in particular on their allocative efficiency. This is evaluated in terms of their potential to meet road maintenance resource requirements, and the study finds that objectives other than allocative efficiency have determined the structure of the two taxes.