In a continuous time life cycle model of consumption with an uncertain lifetime, we use a non-parametric specification of rank-dependent utility theory to characterize the preferences of the agent. We prove that time consistency holds for a subclass of probability-weighting function, providing...

China׳s wind power industry experienced rapid growth before 2009. However, the growing rate slowed down and the problem of wind curtailment was serious recent years. This paper focuses on the analysis of the turning point of China׳s wind power industry combing with life circle theory. With a...

In recent years, different forms of relationships that are culturally bond have emerged such as; ‘Guanxi’ in China (Liu, Li, Tao, & Wang, 2008; Luo, 2007; Yau, Lee, Chow, Sing, & Tse, 2000), ‘Blat’ in Russia (Michailova & Worm, 2003) and ‘Boon Koon’ in Thailand (Pimpa, 2008). While these...