Purpose - Expanding and developing the theoretical implications of socialist market economy with China's experience. Design/methodology/approach - In the course of exploring the development of a market economy, China has given full play to the advantages of the socialist system, which has...

A model of heterogeneous firms with multiple products and two production factors (labor and capital) is used to study how trade liberalization affects firms’choices through both product and factor markets. Trade liberalization is shown to always redistribute capital toward more efficient firms...

A model of heterogeneous firms with multiple products and two production factors (labor and capital) is used to study how trade liberalization affects firms' choices through both product and factor markets. Trade liberalization is shown to always redistribute capital toward more efficient firms...

As computer science and complex network theory develop, non-cooperative games and their formation and application on complex networks have been important research topics. In the inter-firm innovation network, it is a typical game behavior for firms to invest in their alliance partners....

This paper investigates optimal contracts between risk-neutral parties when both exert efforts and the agent faces limited liability. It is shown that a simple share-or-nothing with bonus contract (SonBo for short) is optimal and implements the second-best outcome, i.e., the best possible...

This paper examines the choice of commercial breaks by a television network in a monopoly setup. It is assumed that viewers dislike commercials, while the network seeks to maximize the total audience for these commercials through its choice of the number, length, and timing of commercial breaks....

In the recent decade, emerging economies are rising, in which BRICS (Brazil, Russia, India, China and more recently South Africa) have distinguished themselves with their rapid development to lead the tide of the world. Investigating the exceeding development plans, policies, path selections....

We study incentives for innovations that enable firms to enter backward into the input market. Such innovations are disruptive in that they lead to structural changes and even reversal of supply-customer relationships. We first show that Arrow's replacement effect is also present in our vertical...

As computer science and complex network theory develop, non-cooperative games and their formation and application on complex networks have been important research topics. In the inter-firm innovation network, it is a typical game behavior for firms to invest in their alliance partners....