This study revisits the well-known finding in the finance literature that trading is hazardous. Our analysis of data from China shows that stock trading in general hurts investment return, but it reduces the risk (volatility) of the investment. Furthermore, trading has an inverted u-shape impact...

Using urban household-level survey data from 1992 to 1998, we provide estimates of final demand for edible vegetable oils and animal fats in three regions of China based on the LinQuad incomplete demand system. For each region, the demand for the major "staple" oil is price inelastic. The demand...