Liquidity, efficiency and bailouts . In illiquid markets asset prices can be below their expected values. What is "liquidity" and where does it come from? What determines the "liquidity discount" to expected asset values? We present a general equilibrium model in which some agents...

Traffic from major hurricane evacuations is known to cause severe gridlocks on evacuation routes. Better prediction of the expected amount of evacuation traffic is needed to improve the decision-making process for the required evacuation routes and possible deployment of special traffic...

The significant effects of market frictions on optimal consumption and investment have been widely documented throughout the literature. This dissertation devotes to address the issue when there are transaction costs in the consumption good market or when investors are subject to any combination...

The contribution of SMEs is extremely important to the economy in China, so how can they improve their competition and enhance their innovation capability, which is a serious problem for them to consider? Owing to global business development influence, Chinese SMEs need to know Western...

China's economic reform initiated in 1979 has brought about the partial functioning of markets and the growing interest in Western marketing on the part of academics, practitioners, and governmental bodies. In the West, despite the repeated espousal since the 1950s, marketing orientation has...