Bargaining over an uncertain outcome:¶the role of beliefs

We study the Nash bargaining solution of a problem in which two agents bargain over an uncertain outcome. Under the assumptions of risk neutrality and of constant absolute risk aversion, we study the way that the solution varies, ex ante, when we vary the beliefs of one agent. Changing an agent's beliefs in a way that makes them “more distant” from the other agent's beliefs makes the second agent better off. Received: 10 May 2001 / Accepted: 22 August 2001     

浅谈数据库读写操作中的"事务处理"

本文介绍了数据库操作中出现的一类常见问题,以及使用事务处理来解决类似问题的原理和方法.     

Discrete representations of a continuum economy

We consider an atomless economy in which the continuum of agents is represented by a real interval. By dividing the interval and associating to every agent in each subinterval the same initial endowments and preferences, we define sequences of discrete economies as approximations to the initial continuum economy. We obtain convergence results for the core (or, alternatively, for the set of Walrasian allocations) of the continuum economy in terms of the cores of the approximating discrete economies. Finally, we state some counterexamples which provide a boundary for more general results in this framework. Received: 29 December 2000 / Accepted: 28 April 2002 C. Hervés and E. Moreno acknowledge support by Research Grant BEC2000-1388-C04-01 from the Dirección General de Investigación Científica y Técnica (DGICYT), Spanish Ministry of Education.?E. Moreno acknowledges support from the Spanish Ministry of Education through a post-doctoral fellowship in 1997 and from a Training and Mobility of Researchers (E.C.) fellowship in 1998 while visiting Universidade Nova de Lisboa.     

基于SCI2000的官产学三重螺旋关系比较研究

大学—产业—政府三重螺旋关系方面的研究在国际上已相当深入开展并日趋丰富完善,但在中国却处于起步阶段,更不必说定量细化的规范性研究了。引荐了这方面的一个基于SCI2000的数据挖掘后,在三重螺旋算法下的定量规范性研究,并进行了相应国别区域比较分析。     

Are There Rational Speculative Bubbles in REITs?

This study tests for the presence of rational speculative bubbles in the Equity REIT industry. We analyze REIT prices using a vector of macroeconomic fundamentals. Using the unit root test and cointegration procedures, we find no evidence of rational bubbles in the REIT market. Tests for duration dependence in the returns series show no evidence of negative duration dependence, suggesting that REIT markets are not affected by rational bubbles. Applying the same tests, we find no evidence of rational speculative bubbles in the Russell 2000 index, a proxy for small-cap stocks.     

Knightian decision theory. Part I

A theory of choice under uncertainty is proposed which removes the completeness assumption from the Anscombe–Aumann formulation of Savage's theory and introduces an inertia assumption. The inertia assumption is that there is such a thing as the status quo and an alternative is accepted only if it is preferred to the status quo. This theory is one way of giving rigorous expression to Frank Knight's distinction between risk and uncertainty. Received: 8 October 2001 / Accepted: 8 November 2001 The author is grateful to Martin Shubik for encouragement and long discussions. He is also grateful to Donald Brown, Edward Leamer, David Schmeidler, Martin Shubik, Sidney Winter, Asad Zaman and Arnold Zellner for calling his attention to relevant literature. Note of the Editor: Except for a few minor editorial changes, this article publishes content formerly circulated as Discussion Paper no.~807 of the Cowles Foundation at Yale University, November 1986.     

A combinatorial approach for pricing Parisian options

This paper provides a discrete time algorithm, in the framework of the Cox–Ross–Rubinstein analysis (1979), to evaluate both Parisian options with a flat barrier and Parisian options with an exponential boundary. The algorithm is based on a combinatorial tool for counting the number of paths of a particle performing a random walk, that remains beyond a barrier constantly for a period strictly smaller than a pre-specified time interval. As a result, a binomial evaluation model is derived that is very easy to implement and that produces highly accurate prices. Received: 19 March 2001 / Accepted: 17 March 2002 The author thanks Prof. Ivar Massabó for helpful comments and discussions. This research has been partially supported by MIUR (research on “Modelli per la Finanza Matematica”)     

Land cover changes and environmental protection: A study based on transition matrices concerning Sardinia (Italy)

Prevention and mitigation of the progressive spread of artificialization are key goals of environmental protection policies leading to the establishment of protected areas. Artificialization processes can be effectively assessed by analyzing land cover and land use changes, which put in evidence different kinds of processes that spur a decrease in natural areas and an increase in artificial ones. In this article, we first analyze land cover change processes by developing transition matrices using the simplified Land and Ecosystem Account taxonomy, and next we compare and contrast processes that take place in areas characterized by different levels of environmental protection, which we identify as follows: natural protected areas, sites of the European Natura 2000 network, and unprotected areas. We take the Italian island of Sardinia as a case study, since a system of national and regional parks and an extensive Natura 2000 network have been established in this region, and analyze and compare land cover change processes over more than twenty years (i.e. between 1990 and 2012). Our results highlight significant implications for the definition and implementation of planning policies aiming at preventing or mitigating artificialization processes within the island. However, the methodological approach here proposed can be applied in other European regional contexts so as to tailor planning policies to the local characteristics of ongoing land cover transition processes.     

Misfits and compliance patterns in the transposition and implementation of the Habitats Directive—four cases

This paper investigates the transposition and implementation of the Habitats Directive in four European member states, namely Denmark, the Netherlands, Greece, and Romania, and the role that institutional misfits have played in more or less successful implementation processes. Departing in the ‘Worlds of Compliance’ literature, it also explores if this typology can be useful for understanding the ways member states address institutional adaptation pressures in the implementation steps following the transposition phase. The requirements in the Habitats Directive expanded most member states’ nature conservation frameworks, especially in the obligation to introduce pro-active conservation, and it also laid down a number of steps to be taken for creating the European Natura 2000 network. It was found that the transposition did mostly follow general compliance types, but that these types also helped understand the extent and adequacy of adaptations and changes to the institutional framework in the implementation processes following the directive’s adoption. Implementation challenges were different for different countries. They showed a need to align institutional frameworks for a) Natura 2000 in areas with several existing types of landscape protections and ensuing spatial and institutional overlaps; b) clarifying the roles and responsibilities of various authorities involved in implementation; c) ensuring coordination with the other sectorial policy areas that interact with the Habitats Directive (such as the Nitrate Directive and the Water Framework Directive). It turned out that there could be a need for more flexible and less-top-down European legislation, providing a larger room-for-manoeuvre for integration with domestic approaches.     

金安桥水电站计算机监控系统结构及特点

随着国家节能减排战略的全面实施,水电站在电力系统中承担的责任越来越大,装机规模也越来越大。文章从现场工程实施的角度,阐述了作为金沙江中游特大型梯级水电站之一的金安桥水电站计算机监控系统的结构及特点,并分析了该监控系统设计开发的背景、原则及优势。