This paper examines how decentralization of administrative and fiscal authority affects the development of small cities by exploiting a unique reform of county-to-city upgrading (chexiansheshi) in China. Based on a comprehensive county-level dataset and difference-in-difference approach, I...

Using the 2014 to 2019 Forbes China Celebrity Lists, this study empirically examined the relationship between celebrity shareholders and corporate risk. The findings suggest that celebrity shareholders increased corporate risk. And the main reason is that the capital structure of the enterprise...

We use a large laboratory experimental data involving 2,118 Chinese subjects from Singapore and 1,260 Chinese subjects from Beijing and 400 Jewish subjects from Israel to investigate gender and country difference in altruistic giving using the Andreoni-Miller dictator game (AMDG). Our results...

With the popularity of on-demand ride services worldwide, ride-sourcing platforms must maintain an adequate fleet size and cope with growing travel demand. Recently, platforms have attempted to provide vehicle rental services to drivers who do not own cars, then recruited them to provide on...

Tracy Alloway's recent article in Bloomberg has suggested that Trump's trade war may finally provide relief to American holders of defaulted, pre-1950s Chinese bonds. Here, we examine the hurdles set before these bondholders, namely establishing jurisdiction over the People's Republic of China...

Centered on Incheon International Airport (ICN), South Korea's Incheon Aerotropolis is a global leader in aviation-linked commercial development and smart technology applications. This report details the evolution of ICN, its Air-City, and key outlying nodes such as Songdo International Business...

On-demand ride services (e.g., Uber) receive praises from consumers and investors. However, governments in the United States and Europe are challenging these innovative services by raising legal concerns over labor laws, unfair pricing, and consumer safety. At the same time, the Chinese...

We consider an on-demand service platform using earning sensitive independent providers with heterogeneous reservation price (for work participation) to serve its time and price sensitive customers with heterogeneous valuation of the service. As such, both the supply and demand are...

This paper investigates a long-term optimal spatial pricing strategy for a ride-sourcing platform that serves a particular (possibly populated) area with profit-driven service providers (i.e., drivers) and time- and price- sensitive customers. By observing that oftentimes, the pricing strategy...

In a traffic assignment problem with elastic demand, the equilibrium conditions are achieved on two levels, namely, the stochastic user equilibrium on the path level and the supply-demand equilibrium on the origin-destination level. By recognizing that both equilibrium levels imply random...