A candidate for political office has private information about his and his rival's qualifications. A more informative positive (negative) campaign generates a more accurate public signal about his own (his rival's) qualifications, but costs more. A high type candidate has a comparative advantage...

We examine the short-run dynamic relation between daily institutional trading and stock price volatility in a retail investor-dominated emerging market. We find a significantly negative relation between volatility and institutional net trading that is mainly due to the unexpected institutional...

An agent's productivity depends on his responsiveness to existing incentives ("drive"). Over the long term, this heterogeneity in drive may create significant incentives for the agent to work hard even with vanishingly small amount of existing incentives, explicit or implicit

This paper presents a model of financial reporting in which investors infer both pre-managed earnings and the precision of earnings from reported earnings. Over-reporting earnings has two opposing pricing effects: investors infer higher pre-managed earnings from an inflated positive earnings...

The first chapter of this thesis analyzes how the gossip process can be manipulated by malicious people and the impact of such manipulation on information transmission. In this model, a single piece of information is transmitted via a chain of agents with privately known types. Each agent may be...

The implementation of the "second child policy" and the influx of large numbers of people have led to an increase in the population of Zhejiang Province in China, placing pressure on the environment, health care, and education. In this context, this study intends to use the...

I find that the total asset (TA) growth anomaly (Cooper et al. 2008) is a noisy manifestation of the net operating asset (NOA) growth anomaly documented earlier in the accounting literature. To better understand the underlying causes of the growth anomalies, I decompose TA growth into NOA growth...

We develop a career concerns model in which agents differ in taste for income in addition to ability, and derive basic implications of this framework. We argue that the model captures important aspects of ambition. Since ambitious agents are expected to work harder - and therefore be paid more -...

Purpose: With the rapid progress of Internet of Things technology, the information service of IoT has got unprecedented development, and plays an increasingly important role in real life. For the increasing demand of information service, the pricing of information service becomes more important....

Purpose: With the rapid development of economy and the support of government policy, the development of the logistics industry has become a new economic growth engine. As we all know, the reasonable price of logistics service is the most critical factor for logistics enterprises to win market...