This paper uses farm panel data from China to examine the dynamics of land transactions, machine investments, and the demand for machine services. Recently, China's agriculture has experienced a large expansion of machine rentals and machine services provided by specialized agents, which has...

The rapid development of the electricity industry reform in China has been witnessed in recent years, and one of the iconic achievements could be the establishment and trial operation of the electricity spot markets. However, even though the market clearing model for electric energy is identical...