In competitive sports, the design of an effective ranking system attracts increasing interests. For sports with 2-way results, the Bradley-Terry model has proven to be an effective approach. However, a well-known limitation of standard Bradley-Terry models is that they cannot be applied to...

In this paper, we firstly propose the transferable sunk cost hypothesis, based on the variety of consumer’s multi-goal. We believe that historical sunk cost could transfer to investment, since the multi-goal change. Based on this hypothesis, we propose that ignore the real multi-goal and the...

In this paper, I firstly proposed the concept of generalized sunk cost effect. It contains all the situation that decision-maker (DM) makes decision under sunk cost, which could be irrational and also rational. That is totally different from the old concept sunk cost effect, according to new...

In this paper, we examine how social networks among political leaders matter for state capacity. Using a unique data set covering the government work reports of city and central governments, we find that city leaders with hometown connections with Politburo Standing Committee Members implement...

In this paper, I study a principal-multiagent model in which the principal adopts relative performance evaluation (RPE) as the compensation scheme, and agents are connected in an information network. The ability of each agent is private information, but adjacent agents in the information network...

In this paper, I study a principal-multiagent model where the principal adopts the relative performance evaluation (RPE) as the compensation strategy, and where agents are connected in an information network. The ability of each agent is private information, but adjacent agents in the...

I study the optimal compensation scheme in organizations in Shi (2020), in which agents connected in a network are endowed with the same ability, and work collectively to produce a team output. Connected agents can help neighbors to reduce the disutility of working. For any given network...