Abstract We study models of the formation of citation networks in a setting where authors/firms care about their citations and are rational. The effect of these two features on the diffusion of useful ideas in a setting with complete information about past citations leads to multiplicity of...

Purpose – The purpose of this paper is to quantify the implications of China's recently adopted agricultural policies on domestic and international commodity markets. Design/methodology/approach – A systematic, quantitative analysis is applied to address whether China's recent trade and...

Purpose – Over the last two decades global cross‐border investment has increased. State‐owned and managed, sovereign‐wealth funds (SWFs), largely from the emerging‐market economies, have started playing a decisive role in underpinning, sustaining and expanding financial globalization....

Purpose – The purpose of this paper is to analyze the effects of investment growth in energy sectors of western areas of China on the local economy and emission of carbon dioxide (CO 2 ). Design/methodology/approach – The paper is based on a two‐region, ten‐sector recursive dynamic...

Purpose – Seek to compare the consequences of single‐source versus multiple‐source lending for a borrower who has loans that can be prematurely terminated. Design/methodology/approach – The considered model framework is an option‐theoretic firm value model similar to Merton (1974) but...

Purpose – The purpose of this study is to determine the characteristics of the equilibrium between demand and supply for a reciprocal insurance firm. Design/methodology/approach – The model developed assumes a fixed number of individuals with identical characteristics and of constant...

Economists have often aligned the field of economics with physics; in the process seeking to enhance the rigor of economics by mathematizing it. In the late nineteenth century there was no more ardent champion of this view of what economics should become than Leon Walras. His own writings,...

Purpose – Henry George was acclaimed by the general public and disdained by the professional economists, largely for the same reasons. For the general public, progress, and poverty seemed to go to the heart of the matter, treating economics as a question of justice. But for the professionals,...

Purpose – The purpose of this paper is to develop a model of international capital market equilibrium where investors exhibit home-country bias due to their desire to hedge real consumption. Design/methodology/approach – This paper posits a two-stage process of portfolio choice for the...

Based on the assumption that certain economies achieve quasi-equilibrium, an appropriate economic statistical thermodynamics is formulated in which entropy emerges naturally. Under the assumption that the small group of high income agents, whose income distribution satisfies Pareto's law, does...