We evaluate the consistency of different constructs affecting risk attitude in individuals’ experiential decisions across different levels of risk. Three major views concerning the psychological constructs that underlie risk attitude are contrasted. The first is the classical economic approach which views risk as the sensitivity to differences in variance. The second is the latent components ap...

Fundamental economic conditions are crucial determinants of equity premia. However, commonly used predictors do not adequately capture the changing nature of economic conditions and hence have limited power in forecasting equity returns. To address the inadequacy, this paper constructs macro indices from large datasets and adaptively chooses optimal indices to predict stock returns. I find that...

Bill Clinton, the ex-president of the United States of America at the end of his two presidency period stated that one of his most important successes was the link between internal economy and the foreign policy of the country.  Some general conclusions can be derived from this statement, which include the following and which make the hypotheses of this article: 1- Economic relations are necess...

By introducing nonlinear technology gap into Jones (1995b), this chapter constructs an R&D non-scale growth model that includes endogenous human capital and technological progress. The goal is to take the model’s implications to the data to explaining the Chinese economic development experiences at period 1979-2004. Our model suggests that the technology gap has the block neck effect on the eco...

Based on the concept of “economic cycle cube”, this research constructs the multi-dimension monitoring system for Xinjiang Autonomous Region. The system is able to monitor the main subjects of Xinjiang regional economy including economic growth, investment, consumption, trade, prices, industrial enterprises, coal industry and services, with the tools like diffusion index, composite index, signa...

This paper brings the differentiation perspective of human resource management (HRM) to China's context of economic transition, and constructs a hybridism rationale to explain the distinctive characteristics of Chinese HRM. We respectively discuss the effect mechanisms of commitment-based, control-based, collaboration-based, and contract-based HRM archetypes in China. Then, by comparing the pat...

The research studies on types of products and purchase investigation into inventory management of supply chain. We choose cases from domestic manufacturing industry and retail industry to investigate their inventory management models. The types of products separate functional products and innovative products; purchasing orientations divides into buying and procurement orientation. Two construct...

This paper constructs the probability space underlying the random variable of any time dependent econometric specification. The construction links concrete economic activity, both perceived and recorded, to econometric formulations. Furthermore, it is argued that the probability events belonging to this space are forms of understanding economic activity held by each agent. The model establishes...

Neuroeconomic studies are liable to fall into the reverse inference fallacy, a form of affirmation of the consequent. More generally neuroeconomics relies on two problematic steps, namely the inference from brain activities to the engagement of cognitive processes in experimental tasks, and the presupposition that such inferred cognitive processes are relevant to economic theorizing. The first ...