Positive mood and investment decisions: Evidence from comedy movie attendance in the U.S.

Positive mood has been repeatedly shown to affect decision-making under risk. In this study I exploit the time-series variation in the domestic theatrical release of comedy movies as a natural experiment for testing the impact that happy mood (proxied by weekend comedy movie attendance) has on the demand for risky assets (proxied by the performance of the U.S. stock market). Using a sample of data from 1994 to 2010, I estimate that an increase in comedy attendance on a given weekend is followed by a decrease in equity returns on the subsequent Monday, which is consistent with the mood-maintenance hypothesis.     

Horseflies,wolves and wells: biophysical and socio-economic factors influencing livestock distribution in Kazakhstan’s rangelands

There have been studies on how pastoralists assess and choose the resources required for their livestock, but little research analysing whether livestock are matched to the available resources in a seasonal migratory system by an entire pastoral community over a year. This paper reports a case study of pastoralists in Kazakhstan which shows how the inter-relation of biophysical, institutional and economic factors results in the imperfect matching of livestock numbers to the distribution of forage resources. The research is based on a three-year study using anthropological interviews, formal survey data, and remotely sensed data covering all livestock (25,000 smallstock and approximately 2300 cattle, horses and camels) in a study area of 60,000 km² for an entire annual cycle; a combination of methodologies and geographical coverage that provides a comprehensive estimation of the factors that influence the pastoral exploitation of this human-managed, complex ecosystem. The research finds that the pastoralists are subject to a number of limitations in using biophysical niches which might otherwise provide the best feed and water resources for their animals at a particular season and site. Different ecozones offer seasonally-shifting advantages and disadvantages for the livestock, but livestock owners are also economically differentiated. The interplay between economic and biophysical factors exemplifies the multi-faceted character of pastoralists’ decision-making about site selection within a relatively open rangeland tenure system. Only those with the largest livestock holdings distribute their livestock to take advantage of the best seasonal resources. Despite the wide availability of biophysically suitable sites, most livestock owners’ choices are compromised and therefore frequently suboptimal, prompting the conclusion that natural resource matching is constrained.     

基于前景理论的配送服务综合权模型

基于前景理论，采用综合权的方式，研究了消费者损失敏感度对匹配度的影响，发现匹配度关于延迟送货、供货过量和费用超额的敏感度弱于关于提早送货、供货不足和费用降低的敏感度，且消费者损失敏感度差异在提早送货、供货不足和费用降低情况下对匹配度的影响较大。     

Search Frictions,Real Rigidities,and Inflation Dynamics

The literature on New Keynesian models with search frictions in the labor market commonly assumes that price setters are not actually subject to such frictions. Here, I propose a model where firms are subject both to infrequent price adjustment and search frictions. This interaction gives rise to real price rigidities, which have the effect of slowing down the adjustment of the price level to shocks. This has a number of consequences for equilibrium dynamics. First, inflation becomes less volatile and more persistent. More importantly, the model’s empirical performance improves along its labor market dimensions, such as the size of unemployment fluctuations and the relative volatility of the two margins of labor.     

Do time-varying risk premiums explain labor market performance?

Within the standard search and matching model, time-to-build implies that high aggregate risk premiums should forecast low employment growth in the short run but high employment growth in the long run. If there is also time-to-plan, high risk premiums should forecast low net hiring rates in the short run but high net hiring rates in the long run. Our evidence indicates two-quarter time-to-build in the aggregate payroll data, no time-to-plan in the aggregate hiring data, but two-quarter time-to-plan in the job creation data for manufacturing firms. High payroll growth and high net job creation rate in manufacturing also forecast low stock market excess returns at business cycle frequencies.     

质量风险管理中几种风险分析量化方法的研究

随着质量管理学科的发展,质量风险管理逐渐成为质量管理工作中必须面对的一个问题。文章针对质量风险管理中的质量风险分析环节,结合已有的一些量化分析方法,提出了将质量风险量化的具体方法;并通过示例说明了量化方法在质量风险管理中的重要性以及在实际的质量管理工作中的实用性。     

多资源均衡问题及其优化方法分析

分析了多资源均衡的必要性、优化目标,以及多资源均衡优化需要解决的关键问题;将现有多资源均衡优化方法分为两类,分别分析了各自存在的主要缺陷;在此基础上提出了应在考虑配套施工的前提下进行多资源均衡优化.分析了考虑配套施工前提下多资源均衡优化的相对优越性,从资源分类和资源相关性两个方面分析了考虑配套施工对多资源均衡提出的新要求,为考虑配套施工的多资源均衡优化提供参考.     

The Effects of Marginal Employment on Subsequent Labour Market Outcomes

Abstract. Unemployed workers in Austria do not lose their unemployment benefits (UI) if they work in a job where their earnings are below a certain threshold [‘marginal employment’ (ME)]. ME might improve their labour market status by signalling effort, or worsen it through reduced job‐search effort. Those who work in ME while claiming UI have less employment and lower earnings afterwards than those who do not. The penalty lessens over time but is still present after three years.     

公司创业的合法性悖论与合法性倾向选择

目前,公司创业面临着内外部合法性要求冲突构成的"合法性悖论",合法性倾向受到新业务与原有业务相关性、以及新进入行业的成熟度共同作用的影响。在文献研究的基础上,通过构建了一个公司创业的内外部合法性选择模型,提出公司创业开展的业务与原有业务相关性越高,服从内部合法性的倾向越明显;公司创业进入的行业成熟度越高,服从外部合法性的倾向就越明显。