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981.
982.
Edward S. Pearsall 《Journal of Regulatory Economics》2009,36(3):274-285
The complete Incremental Cost Test for cross-subsidies can be difficult to apply to a multi-product enterprise because every
possible subset of products must be tested. However, this combinatorial problem can be avoided when the enterprise’s cost
function is sub-modular by identifying the smallest subset of products causing the maximum cross-subsidy. This subset contains
all of the products, and only those products, that are responsible for the cross-subsidies left by a stipulated set of prices.
In addition, the subset can often be identified with a simple and efficient Myopic Algorithm. The algorithm should be particularly
useful as a method for detecting cross-subsidies in regulated enterprises and networks because the cost functions for these
industries are typically sub-modular. 相似文献
983.
Christian A. Vossler Timothy D. Mount Robert J. Thomas Ray D. Zimmerman 《Journal of Regulatory Economics》2009,36(1):44-59
This paper presents the results from an auction experiment using industry professionals and student participants who compete
in a simulated wholesale market for electricity. Motivated by the intervention by FERC in response to the “meltdown” of the
California spot market, we investigate the effect of including a “soft” price cap in a uniform price auction as a means of
mitigating high prices. When prices are driven above the soft cap, offer curves become flat, in contrast to the hockey stick
shape observed in a typical uniform price auction for electricity. This flat offer curve leads to market prices that are relatively
insensitive to both generation costs and demand reductions.
相似文献
984.
Citizens and organizations representing them play an increasingly important role in markets for environmental quality, but
much remains to be learned about how their participation affects these markets. We analyze the effects of allowing a community
of citizens to trade pollution permits in an imperfectly competitive permit market. Allowing the community to trade directly
reveals its preferences, which enhances welfare. However, community participation may also exacerbate distortions due to market
power, even though the community itself trades competitively. Including the community in permit distribution may exacerbate
market power distortions by affecting a dominant trader’s propensity to participate in the permit market. Second, the community’s
demand/supply for permits may be more inelastic than other traders and worsen distortions due to market power. We illustrate
in an example that these negative effects on competition can dominate the positive effect from preference revelation through
the market place.
相似文献
985.
The effects of air quality regulations on the location decisions of pollution-intensive manufacturing plants 总被引:1,自引:1,他引:0
This research examines the effects of the 1977 Clean Air Act Amendments (CAAA) on the location decisions of pollution-intensive
manufacturing plants. We develop a panel data set to analyze plant births of polluting manufacturers over time as a function
county-level attainment status of the federal standard for ozone pollution. We find that more stringent county-level environmental
regulations impact pollution-intensive capital flows through deterring new plant births. We also find that the impact of stricter
regulations varies by pollution-intensity of manufacturers, with results suggesting that federal guidelines have a greater
impact on high pollution intensive manufacturers than more moderate polluters.
相似文献
986.
Re-Examining the Empirical Evidence for Stochastic Convergence of Two Air Pollutants with a Pair-Wise Approach 总被引:1,自引:0,他引:1
Myriam Nourry 《Environmental and Resource Economics》2009,44(4):555-570
This paper examines the hypothesis of stochastic convergence for two air pollutants emissions (carbon dioxide [CO2] and sulfur dioxide [SO2]). The value-added of this paper lies in the use of a recent, alternative econometric method, a pair-wise approach that considers
all the possible pairs of log per-capita pollutant emission gaps across all the countries in the sample. In this method, all
emissions differences must be stationary around a constant mean. Empirical results support different conclusions on stochastic
convergence in per capita CO2 and SO2 emissions depending on the choice of the unit root test. The use of specific critical values from the ADF-KPSS joint test
overcomes these initial conflicting results and leads to small percentages of stationary pairs around a constant mean; which
invalidate the hypothesis of stochastic convergence for per capita emissions of CO2 and SO2, even over the OECD sub-dataset. 相似文献
987.
We consider a model of vertical product differentiation where consumers care about the environmental damage their consumption
causes. An environmental group is capable of increasing consumers’ environmental concern via a costly campaign. We show that
the prospect of such a campaign can induce entry by a firm that is able to employ a cleaner technology than the one used by
the incumbent. We further demonstrate that the subsequent competition can lead to an adverse effect on aggregate pollution,
i.e. the decline in average industry pollution per product is offset by the increase in aggregate production.
相似文献
988.
Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples 总被引:2,自引:2,他引:0
This study applies functional Benefit Transfer via Meta-Regression Modeling to derive valuation estimates for wetlands in
an actual policy setting of proposed groundwater transfers in Eastern Nevada. We illustrate how Bayesian estimation techniques
can be used to overcome small sample problems notoriously present in Meta-functional Benefit Transfer. The highlights of our
methodology are: (i) The hierarchical modeling of heteroskedasticity; (ii) The ability to incorporate additional information
via refined priors; and (ii) The derivation of measures of model performance with the corresponding option of model-averaged
Benefit Transfer predictions. Our results indicate that economic losses associated with the disappearance of these wetlands
can be substantial and that primary valuation studies are warranted.
相似文献
989.
990.