In this paper, we examine how firms can leverage reference-group effects (RGEs) in sequential introduction of upgraded products. RGEs arise when consumers engage in social comparisons: leaders desire to distinguish themselves from followers and followers desire to mimic leaders. We find that...

This paper investigates the time-varying effects of partisan conflict (PC) and trade policy uncertainty (TPU) on the energy market from January 2000 to July 2021 by employing a time-varying parameter vector autoregressive model with stochastic volatility. The results show that the pass-through...

This paper investigates the time-varying effects of partisan conflict (PC) and trade policy uncertainty (TPU) on the energy market from January 2000 to July 2021 by employing a time-varying parameter vector autoregressive model with stochastic volatility. The results show that the pass-through...

This paper expands the emerging literature on volatility forecasting for China’s oil market by exploring the predictive ability of higher-order moments (skewness, kurtosis, hyperskewness, and hyperkurtosis) based on high-frequency data. Our investigation is originally based on the...

The recent Sino-U.S. trade conflict has made the impact of economic policy uncertainty (EPU) between China and the US on the global market gradually become a hot topic. This paper uses a spillover directional measure to investigate the cross-category spillovers among crude oil and gold markets...

Water emission trading (WET) is promising in sustainable development strategy. However, low participation impedes its development. We develop an evolutionary game model of two enterprise populations’ dynamics and stability in the decision-making behavior process. Due to the different perceived...