Farsighted network formation

This paper studies a model of dynamic network formation when individuals are farsighted: players evaluate the desirability of a “current” move in terms of its consequences on the entire discounted stream of payoffs. We define a concept of equilibrium which takes into account farsighted behavior of agents and allows for limited cooperation amongst agents. We show that an equilibrium process of network formation exists. We also show that there are valuation structures in which no equilibrium strategy profile can sustain efficient networks. We then provide sufficient conditions under which the equilibrium process will yield efficient outcomes.     

生态经济学基本问题研究

如何审视生态系统、环境系统与经济系统之间的相互关系,关系到对生态经济学基本问题的科学理解,关系到如何运用科学发展观建设和谐社会、实现经济社会持续发展。本文以此为前提,深入研究生态经济学的基本问题,对生态价值、环境价值、经济价值层次的升级,逻辑上的升华及其内在联系进行了探讨。     

我国封闭式基金折价与基金运行绩效的相关性检验

笔者以我国的封闭式基金为样本,利用面板数据建模,综合考量了基金折价率与基金绩效指标间相关关系.研究结果发现,基金绩效指标对当期折价指标有显著的负的影响;而当期的基金折价指标不能准确预测未来绩效水平,即基金折价率并没有提供对未来基金绩效的有价值信息.     

全国及各省居民消费物价指数变化的同步性分析——基于2000年1月-2006年6月月度数据的一个比较

本文主要基于月度数据使用滤波分析方法分析省际CPI的同步性.指出:大部分省CPI与全国基本平行运行,而且随着全国市场一体化程度的不断提高,同步性会进一步增强,产生差异的将是CPI的波动幅度和个别省运行上的领先或者滞后.因此,我国宏观调控必须坚持全国一盘棋,有效调控总量.同时,在尊重市场规律的前提下,在科学的范围内谨慎探索"突出重点,有保有压,区别对待"的实践.     

反向抵押贷款风险研究

反向抵押贷款作为一种金融产品,其核心问题是风险管理,但目前国内对于反向抵押款风险的研究仅仅停留在简单对国外文献的翻译上,并未结合中国实际进行具体分析.结合中国具体实际对反向抵押贷款中的三级风险作了详细分析,并对反向抵押贷款中的风险防范提了几点建议.     

The evolution of rationality and the Red Queen

Strategic rationality is subjected here to natural selection. In a zero-sum repeated game of incomplete information, one long-run individual is informed of the state of the world, and plays against a sequence of short-run opponents who are not. Strategies are noisy and have bounded recall. An equilibrium in these is shown to exist. Relative to any such equilibrium, sufficiently greater recall enjoys an advantage that is not decreasing in the original level of recall, thus capturing the Red Queen effect. The selection pressure to reduce a small amount of noise is less than that to increase recall.     

道德风险存在下董事责任保险市场的保费水平分析

本文通过对董事责任保险市场的介绍,指出在董事责任保险市场中存在着严重的道德风险问题,通过对市场中保险双方行为的博弈分析,得到在道德风险存在下的保费变动范围,并指出防止或减轻董事责任保险市场中道德风险的方法.     

OWNERSHIP STRUCTURE AND FIRM EXIT ROUTES

ABSTRACT

Our study presents empirical evidence about the role of ownership structure for firm exit probability by explicitly differentiating between distinct exit routes (bankruptcy and forced liquidation, voluntary liquidation, mergers and acquisitions – M&A, and removal from the court register). Based on the population of Slovenian firms in the 2006–2012 period and using multinomial probit, our findings support the predictions of agency theory. Ownership concentration, share of the largest owner, and the difference in shares between two largest owners all decrease the likelihood of exit for all studied exit routes but M&A. The magnitude of their impact is largest for exits, in which owners play a decisive role, i.e. voluntary liquidation and removal. The link between the number of primary owners and exit likelihood is U-shaped with the lowest exit probability for firms with around two owners.     

应用电法新装置勘探二维与三维地电体

本文通过对新装置条件下位场特征的分析,应用边界单元法及解析法的计算结果,发现当二维或三维电性不均匀体与测量电极位于背景场同一等位面时,视电阻率异常反映最明显。从而提出了圆弧交会法确定二维或三维地电体中心理深的方法,并给出了若干计算实例。结果表明,此方法简便有效且精度较高。     

加强档案信息化建设,提高医院档案管理工作水平的思考

如今是现代化社会,在医院的管理规划中最重要的组成部分之一就是信息化建设,该项工作对于医院其他各项工作的开展来说起到至关重要的作用,特别是对于医院的档案管理。论文首先对医院档案信息化建设的必要性和重要性进行简单概述,再对其价值和地位进行了进一步探究,希望对未来我国医院档案信息管理工作的开展有所助益。