This paper considers socially optimal government policies in a dynastic family model with physical capital, human capital, endogenous fertility and positive spillovers from average human capital. Such spillovers reduce human capital investment but raise fertility from their social optimum. We...

Previous studies have shown that the stationary and nonstationary time-varying volatilities have different implications on the unit root test. In this paper, we provide a Bayesian unit root test for an AR(1) model with stochastic volatility and leverage effect. Monte Carlo simulations show that...

This study investigates consumers' attention to retail feature ads and proposes a method to optimize the design of the ads. Utilizing a large dataset of consumers' attention to over 1,100 individual feature ads collected with eye-tracking technology, we analyze the effects of the five key design...

We examine the relationship between urban--rural income disparities and development in a panel data set of 30 provinces and regional subsets of China during the period of 1978 to 2006. There is an inverted-U relationship between the urban--rural income gap and per capita Gross Domestic Product...

We identify four different approaches to estimate the regional and local impacts of tourism based on national accounts and economic modelling: The supply approach, the simple demand or commodity approach, the simple satellite account approach involving tourism satellite accounts based on social...

Employing the conceptual framework of play themes, this study examined and reported the product categories that presented branded entertainment the most, the different types and features of branded entertainment, and how various play themes were incorporated in branded entertainment in the...

Few studies have explored the direct influence of social networking websites (SNWs), and to the best of our knowledge, none have examined the indirect influence of SNWs on users and how that indirect influence leads to word-of-mouth related behaviors in SNWs. This study employs the theoretical...

We explore the roles of subsidies in the Matsuyama model (1999) of growth through cycles alternating perpetually between two phases featuring neoclassical investment and neo-Schumpeterian innovation respectively. Subsidies to R&D investment or to the purchase of newly invented intermediate goods...