Books Reviewed

Books reviewed:
Levin, Simon A., Fragile Dominion: Complexity and the Commons
Dinar, Ariel, (ed.) The Political Economy of Water Pricing Reforms
Easter, William K., Mark W. Rosegrant, and Ariel Dinar, Markets for Water: Potential and Performance
Tylecote, Andrew, and Jan van der Straaten, (eds.) Environment, Technology and Economic Growth: The Challenge to Sustainable Development
Carlton, Dennis W., and Jeffrey M. Perloff, Modern Industrial Organization
Stavins, Robert N., (ed.) Economics of the Environment: Selected Readings     

The Effect of Short Selling on Market Reactions to Earnings Announcements*

This paper examines the effect of the inherent demand implied by short interest by studying how stock price reactions to earnings announcements depend on the level of short interest. We find that, for extreme good and bad news events, the inherent demand increases stock prices around the earnings announcement date, with the effect being stronger for good news relative to bad news. Specifically, the initial market reaction to an extreme positive earnings surprise is larger for firms with high levels of short interest. On the other hand, for an extreme negative earnings surprise event, the initial market reaction is less negative for heavily shorted firms. Furthermore, we find that the post‐earnings‐announcement drift is smaller (larger) in magnitude for extreme positive (negative) earnings surprises for the heavily shorted firms.     

基于win8的天气新闻类应用实现

Windows8应用商店开发是微软的一个全新开发技术，本文详细介绍了一款基于win8的天气新闻类应用在开发过程中的设计思路，用到的相关技术：如何使用API，如何提取动态网页中的数据，如何根据动态改变的温度值绘制出正确的温度曲线。应用最终的成功开发表明，设计达到了最初的预期要求，并且对类似应用的开发与研究起了较好的借鉴作用。     

Innovate or Imitate? Behavioural technological change

We propose a behavioural model of technological change with evolutionary switching between costly innovators and free imitators, and study the endogenous interplay of innovation decisions, market price dynamics and technological progress. Innovation and imitation are strategic substitutes and exhibit negative feedback. Endogenous technological change is the cumulative outcome of innovation decisions. There are three scenarios: market breakdown, Schumpeterian rents and learning curves. The latter is characterised by an increasing fraction of innovators when demand is elastic, while inelastic demand allows technological progress with shrinking innovation effort. Model simulations are compared to stylised features of empirical data in two industrial sectors.     

A theory of return‐seeking firms

We introduce a theory of return‐seeking firms to study the differences between this and profit‐maximising models. A return‐seeking objective takes into account the opportunity cost of each additional resource input to a firm's production as being a potential capital input choice in an alternative project. We find that firm supply curves cease to exist in perfectly competitive markets, that supply curves may slope up as well as down, that economies of scale are necessary for any production to occur and that firms always produce on a decreasing portion of their cost curve.     

椭圆曲线密码体制的应用及研究

介绍了椭圆曲线密码体制的基本应用,分析了ECC优于其他公钥系统的具体优点及其数学原理。针对椭圆曲线的研究热点,归纳出椭圆曲线选取原则以及椭圆曲线快速算法的基本原理。深入研究了椭圆曲线上双线性映射,构建了其在电子商务中应用模型,证明了该性质对ECC进一步发展的促进作用。     

建立不锈钢系列的B元素在线检验项目

本文介绍了利用ARL4460型直读光谱仪检测不锈钢中硼的含量。硼对钢材的影响很微妙,钢中加入微量的硼可显著提高钢的淬透性;而当钢中硼的含量过高时则会在材料的晶界处徧聚,从而造成材料的沿晶脆断。     

Food Stamps and Food Spending: An Engel Function Approach

Estimation of Food Stamp Program (FSP) effects has been complicated by self-selection and by a contradiction between observed spending patterns and the economic theory of consumer choice. We developed a modified version of the traditional theory, in which participant households may be partly extramarginal even if they have some cash spending on at-home food. Using Current Population Survey (CPS) data for 2001–2005, we estimated Engel functions for at-home and away-from-home food spending for FSP participants and nonparticipants. Compared to nonparticipants with the same level of total income, participants had higher at-home food spending and lower away-from-home food spending.