江苏省物联网产业培育机制研究

物联网产业培育机制的设计是物联网产业化发展的关键,对物联网产业培育机制进行研究具有重要的现实意义。文章从物联网产业市场培育、技术培育、政策支撑的角度对江苏省物联网产业的培育机制设计进行了系统的研究。从产业属性、产业培育原则、产业培育内容三个维度构设计了江苏省物联网产业的整体培育思路,并提出了建立江苏省物联网产业市场培育机制、技术培育机制、政策支撑体系的对策,将为江苏省物联网产业的培育提供参考。     

The willingness to pay–willingness to accept gap: A failed replication of Plott and Zeiler

The well-known willingness to pay–willingness to accept (WTP–WTA) gap refers to the observation that individuals attach a higher value to objects they own (WTA) than to objects they do not own (WTP). We report on experiments to re-investigate the possibility that the WTP–WTA gap arises from subject misconceptions due to experimental procedures as suggested by Plott and Zeiler (2005). The contribution of this paper is two-fold: first, we attempt to replicate the findings by Plott and Zeiler that the WTP–WTA gap disappears when using procedures that are aimed at reducing misconceptions, such as extensive training and practice rounds for the BDM mechanism. However, we fail to do so as the WTP–WTA gap persists in the main task where subjects state their WTA or WTP for a mug. Second, we use the paid practice rounds to identify subjects without apparent misconceptions and find that also for those subjects who never make dominated choices in the lottery tasks, the WTP–WTA gap in the mug task exists. Thus, we find no evidence of the idea that subject misconceptions are the main source of the WTP–WTA gap.     

Sources of business fluctuations: Financial or technology shocks?

Despite the widespread belief that technology shocks are the main source of business fluctuations, recent empirical studies indicate that in the absence of financial frictions, a shock to the marginal efficiency of investment is the main source and is closely related to financial conditions for investment. We incorporate a financial accelerator mechanism and two types of financial shocks to the external finance premium and net worth in a dynamic stochastic general equilibrium model with shocks to the marginal efficiency of investment, the investment-good price markup, and the rates of neutral and investment-specific technological changes. This model is estimated using eleven US time series that include data on loan, net worth, the loan rate, and the relative price of investment. Our estimation results show that the (non-stationary) neutral and investment-specific technology shocks primarily drive output and investment fluctuations, while the external finance premium shock plays an important role for investment fluctuations. This financial shock induced substantial falls and subsequent sharp hikes in the external finance premium and caused boom–bust cycles over the past two decades.     

Truthful germs are contagious: A local-to-global characterization of truthfulness

We study the question of which social choice functions from an abstract type space to a set of outcomes are truthful, i.e., implementable by truthful mechanisms, when utilities are quasi-linear. For convex domains, our main theorem characterizes truthful social choice functions as those satisfying two properties: local weak monotonicity and vortex-freeness. The first of these constrains the function values at any two sufficiently proximal points, while the second asserts that its line integrals around sufficiently small triangular loops must vanish.The characterization implies a local-to-global principle that allows one to deduce truthfulness of a function from its behavior on arbitrarily small neighborhoods of each point. Other consequences include a simple alternate derivation of the Saks–Yu Theorem that weak monotonicity characterizes truthfulness of functions having a convex domain and finite range, and a sufficient condition for constructing truthful functions by “stitching together” truthful subfunctions on different subsets of the domain.     

酒店行业协会的运行机制及其变迁——以广州地区酒店行业协会为例

行业协会在酒店业发展进程中发挥越来越大的作用,但在国内现行条件下,行业协会发展面临多重困难。文章以广州地区酒店行业协会为案例,采用实地调查和深度访谈的方法,讨论行业协会的运行机制及其变迁。研究认为,第一,"政会不分"是目前行业协会管理的主要问题,政府应创新行业协会管理机制,加快"政会分开"的进程,推进部分行业职能向协会转移;第二,酒店行业协会应大胆创新,依据地区、行业发展环境动态调整组织架构,丰富协会职能发挥,以此达到激活协会运行机制的目标。基于此,酒店行业协会可以更好地为会员酒店服务,提升行业专业化管理水平。     

The veto mechanism in atomic differential information economies

We establish new characterizations of Walrasian expectations equilibria based on the veto mechanism in the framework of differential information economies with a complete finite measure space of agents. We show that it is enough to consider the veto power of a single coalition, consisting of the entire set of agents, to obtain the Aubin private core. Moreover, we investigate on the veto power of arbitrarily small and big coalitions, providing an extension to mixed markets of well known Schmeidler (1972) and Vind’s (1972) results in terms of Aubin private core allocations.     

Impossibilities for strategy-proof committee selection mechanisms with vetoers

When a group of voters selects a committee out of a set of candidates, it is common and often desirable to endow these voters with some veto power. I present impossibility results showing that even limited veto power makes many mechanisms of interest manipulable. This applies in particular (i) to mechanisms the range of which contains a degenerate lottery in which a committee is chosen for sure and (ii) to mechanisms that are constructed from extensive game forms with a finite number of strategies. These impossibilities hold on a large set of domains including the domain of additive preferences, and even when probabilistic mechanisms are allowed and voters can report cardinal preferences.     

Dynamic decision and coordination in a low-carbon supply chain considering the retailer's social preference

We establish dynamic game models in a low-carbon supply chain consisting of a single manufacturer and a single retailer with social preference. This study investigates the complex dynamic characteristics of pricing decision and carbon abatement strategy in the supply chain and focuses on the impact of the retailer's social preference on pricing decision, carbon emission abatement strategy, profits, supply chain coordination, and complexity of dynamic models. We find that adjustment parameters of pricing and carbon emission abatement should be maintained in a certain range; otherwise, the system will be unstable and even chaotic through period double bifurcation or wave shape chaos. A higher social preference of the retailer is always beneficial to carbon abatement and the manufacturer and helps maintain the stability of the supply chain system. However, the impact on the long-term profitability of the supply chain is related to the state of the system. Compared with the setting of a centralized decision, the optimal carbon abatement strategy and supply chain profit in a decentralized decision are always less than those in a centralized setting, regardless of whether the retailer has social preference. Therefore, a side-payment self-executing contract is designed to coordinate the supply chain and achieve Pareto improvement. The coordination mechanism proposed in this study not only leads to Pareto improvement but also increases the stability of the supply chain system. Finally, this study enlightens management in operating a low-carbon supply chain.     

我国银行理财业务发展趋势研究

对国内商业银行理财业务的发展状况进行了简要概述， 进而对理财业务开展过程中的一些问题进行了分析， 强调指出市场化应该成为银行理财业务转型升级和创新发展的方向， 并提出了实现市场化发展方向的若干具体措施。     

On the role of Islamic and conventional banks in the monetary policy transmission in Malaysia: Do size and liquidity matter?

This paper empirically investigates the impact of monetary policy on the credit supply of Islamic versus conventional banks of Malaysia using an unbalanced panel dataset over the period 2005-2016. While estimating the effects of three alternative measures of monetary policy on banks' credit supply, we include several bank-specific and macroeconomic variables in the specification as control variables. We provide strong evidence on the existence of the credit channel of monetary policy transmission mechanism in Malaysia. Yet, we show that Islamic banks respond considerably less to changes in monetary policy instruments as compared to their conventional counterparts. We also find that the monetary policy measures affect small-sized banks and less-liquid banks more as compared to large-sized and more-liquid banks. Our findings suggest that for an effective monetary policy, there is a vital need to consider the nature of Islamic banking while devising any monetary policy instruments to manage credit supply in the economy.