The thesis combs the existing legal provisions about rural housing land from the perspectives of use restriction, means restriction, subject restriction and mortgage prohibition, and finds out their defects, namely, weakening real right, confused knowledge about the integration of house property...

Admissibility of linear estimators of a regression coefficient in linear models with and without the assumption that the underlying distribution is normal is discussed under a balanced loss function. In the non-normal case, a necessary and sufficient condition is given for linear estimators to...

In this paper we show, in an incomplete contracts framework which combines asymmetric information and moral hazard, that by permitting insiders to trade on personal account the equilibrium level of output can be increased and shareholder welfare can be improved. This result follows for two...

Securities trading has generated some of the most sensational scandals in the popular business press. In one of the most publicized cases of insider trading, in the late 1980s Michael R. Milken and Ivan F. Boesky were sentenced to stiff prison terms and payment of enormous damage assessments and...

This paper demonstrates the relevance of strategy constraints on market makers to the possibility of financial market breakdown when there is information asymmetry between market makers and investors; both the case of competitive market makers and the case of a monopolistic market marker are...

We propose and study a new model for the spanning tree problem with interval data, the Minimum Risk Spanning Tree (MRST) problem, that finds diverse applications in network design. Given an underlying network G=(V,E), each link e[set membership, variant]E can be established by paying a cost ,...