Motivated by Bali et al. (2016) who find U.S. economic policy uncertainty (EPU) is priced in the cross-section of U.S. stock returns, we use weekly data from March 2006 to April 2016 to study whether shocks in U.S. EPU also influence prices of China's A-shares from market, industry, and...

We compare different fund performance measures to examine which performance measures can generate risk-adjusted returns between high ranked and low ranked China's actively managed open-end equity mutual funds. Our results show that only the 6-factor (Fama and French (2015) five factors plus a...

This paper studies a bargaining game with one buyer and multiple sellers of different "sizes" or bargaining strengths. The bargaining order is determined by the buyer. If the buyer can commit to a bargaining order, there is a unique subgame perfect equilibrium outcome where the buyer bargains in...

This paper considers a situation in which participants with heterogeneous ability types are grouped into different competitions for performance ranking. In a contest, there may be performance spillovers, because of which a participant can benefit from others' performance. A planner can allocate...

This paper considers a situation in which students with heterogeneous ability types are grouped into different competitions for performance ranking. A planner can group the students and design prize structure in each competition in order to maximize the weighted total performance subject to a...

This paper considers a situation in which students with heterogeneous ability types are grouped into different competitions for performance ranking. A planner can group the students and design prize structure in each competition in order to maximize the weighted total performance subject to a...

This paper generalizes the results of Siegel (2009, 2010) to accommodate performance spillovers. More precisely, we show that, if for any player, spillover from other players' performance is independent of his own performance, and if the spillover enters any player's payoff in an additively...

This paper studies a complete-information bargaining game with one buyer and multiple sellers of different "sizes" or bargaining strengths. The bargaining order is determined by the buyer. If the buyer can commit to a bargaining order, there is a unique subgame perfect equilibrium outcome where...