On linking microsimulation and computable general equilibrium models using exact aggregation of heterogeneous discrete-choice making agents

Our paper contributes by bridging the gap between the (partial equilibrium) microsimulation and the computable general equilibrium (CGE) approaches, by making use of exact aggregation results from the discrete choice literature: heterogeneous individuals choosing within a set of discrete alternatives may be aggregated into a representative agent with (possibly multiple-level) constant elasticity-of-substitution/transformation preferences/technologies. These results therefore provide a natural link between the two policy evaluation approaches. We illustrate the usefulness of these results by evaluating potential effects of population ageing on the dynamics of income distribution and inequalities, using a simple overlapping generations model where individuals make leisure/work decisions, and choose a profession among a discrete set of alternatives.     

Heuristic learning and the discovery of specialization and exchange

I develop and calibrate an agent-based model of boundedly rational, adaptive agents in a two-good production and exchange economy to replicate human-subject outcomes in the same eight-person experimental economy. To test agents’ ability to capture human behavior, I extend the model and use its output to make predictions about a second experimental environment in which the group of eight agents is slowly constructed by merging smaller groups. This environment improves human-subject performance in the specialization and exchange task, and commensurate improvement emerges for some parameterizations of the agent-based model. This iterative process yields incremental improvement of decision-level theories about economic discovery.     

新《行政诉讼法》有关判决方式的文本解读

新《行政诉讼法》关于行政诉讼判决方式的修改内容丰富、特色鲜明、亮点颇多,有必要在法治国家的背景下对其深入解读。新《行政诉讼法》的判决方式具有五大亮点,修订后的判决方式彰显了国家治理的法治现代化。对于新《行政诉讼法》有关判决方式的适用我们需要注意四个层面的内容。新《行政诉讼法》对判决方式的修订并不完美,但是瑕不掩瑜,通过这次修法,我国行政审判将会以判决方式的改变作为基点迎来发展的契机。     

Social Justice and Affirmative Action in Malaysia: The New Economic Policy after 50 Years

Malaysia's New Economic Policy (NEP), promulgated in 1971, established a two-pronged national social justice agenda of poverty reduction, and social restructuring or pro-Bumiputera affirmative action. This distinction of these policy objectives must be appreciated, but various misconceptions, especially regarding affirmative action, have resulted in polarization and stalemate after 50 years of the NEP. Social justice and affirmative action must be conceptualized and evaluated with clarity and rigor, with policy objectives, mechanisms and outcomes aligned. Malaysia needs to systematically formulate a new social justice paradigm, building on the NEP and anchored on the principles of equality and fairness. In the affirmative action sphere, this framework must focus on developing capability and competitiveness, and balance identity, need and merit in the allocation of opportunity.