The Coasean analysis of lighthouse financing: myths and realities

In ‘The Lighthouse in Economics’ (Coase, R. H. Journalof Law and Economics, vol. 17, no. 2, 357–76, 1974), Coasereached the conclusion that in England there existed a relativelyefficient privately financed lighthouse system, which wouldrefute economists' traditional statements concerning the productionof public goods. The purpose of this paper is to challenge hisconclusion. We first show that, from a methodological and theoreticalperspective, ‘The Lighthouse’ is consistent with‘The Problem of Social Cost’ (Coase, R. H. Journalof Law and Economics, vol. 3, 1–44, 1960). Then, applyingCoase's own method (historical case studies), we attempt tore-examine the respective roles and efficiencies of privateinitiative and government.     

极限的运算方法

本文利用极限与某些概念、定理、公式间的联系，介绍了几种常用方法之外的求极限的方法，目的在于开拓解题思想，更深入地理解高等数学各部分的联系。     

Studying composite demand using scanner data: the case of ground beef in the US

This article reports tests of aggregation over elementary ground beef products and estimates composite demand elasticities. Results suggest that we obtain reliable information on consumers’ actual ground beef purchases by grouping data according to either lean percentage or brand type. The results also suggest that we obtain reliable information by using the data to form a single ground beef composite. By testing for valid aggregates and providing estimates of composite demand elasticities the analysis provides economists and policymakers with information regarding the effects of food and agricultural policies on consumers and producers that buy and produce ground beef.     

Bargaining with a possibly committed seller

We consider negotiations with an open time horizon where a buyer has private information about his valuation and does not know whether the seller is committed to the advertised price. This setting combines two common specifications made in the non-cooperative bargaining literature: one side is privately informed about its valuation, which is drawn from a continuum, and the other side is possibly committed to a fixed offer. We analyze the game both in discrete and in continuous time and show convergence of the two settings, which extends results from Abreu and Gul [2000. Bargaining and reputation. Econometrica 68, 85–117]. One interesting result is that as time proceeds, the non-committed seller becomes less likely to concede in a given period, i.e., it appears as if he becomes more “stubborn.” We further show that a seller may prefer to negotiate with a “worse” buyer as this enhances the value of his possible commitment.     

Durable goods with quality differentiation

We study the optimal strategy of a durable-goods monopolist who can offer goods in different qualities. The key finding is that the presence of the additional sorting variable further undermines the firm's commitment problem, leading to results that contrast sharply with those of standard durable-goods models or those of models where the firm can commit.     

孙子定理在通信编码中的一种应用

本文根据中国剩余定理在有限域多项式基础上的描述，给出了一种编译码方法。     

新制度经济学与马克思经济学企业性质理论比较

根据理论基础和基本分析方法的不同,可将现有企业性质理论分为两大类：新制度经济学的企业性质理论和马克思经济学的企业性质理论。两类理论各有侧重与缺陷,构建完整的企业性质理论应以马克思的分析框架为基础,融入新制度经济学的观点。     

SOME REMARKS ON ARBITRAGE AND PREFERENCES IN SECURITIES MARKET MODELS

We introduce the notion of a market-free-lunch that depends on the preferences of all agents participating in the market. In semimartingale models of securities markets, we characterize no arbitrage (NA) and no-free-lunch-with-vanishing-risk (NFLVR) in terms of the market-free-lunch and show that the difference between NA and NFLVR consists in the selection of the class of monotone, respectively monotone and continuous, utility functions that determines the absence of the market-free-lunch. We also provide a direct proof of the equivalence between the absence of a market-free-lunch, with respect to monotone concave preferences, and the existence of an equivalent (local/sigma) martingale measure.     

关于效用函数及阿罗不可能定理的一个猜想

这是一篇关于效用函数是否存在,及阿罗不可能定理是否成立的研究性论文。文章讨论了”阿罗不可能定理”的逻辑问题。并且指出,如果将效用函数放在非欧空间里考察,则“投票悖论”可以解决。文章给出了效用函数在空间里的一个猜想模型,并证明了这种可能性。以及如何利用模型,求“Edgeworth盒”的契约曲线及无差异函数。     

李嘉图等价定理及其在中国的适用性

在有关论述政府债务经济效应的理论中,李嘉图等价定理提出了和凯恩斯主义不同的观点。通过运用理论分析和实证分析,对李嘉图等价定理在我国是否成立进行了分析,得出的结论是在中国目前经济转型阶段,尽管李嘉图等价定理不成立,但它提醒人们注意在使用财政赤字政策时,政策工具使用的限度,因此李嘉图等价定理对我国的财政政策仍具有一定的指导作用。