In this paper, we introduce uncertainty into Akerlof and Yellen (1990)'s fair wage effort hypothesis. In this uncertain fair wage hypothesis, employers do not have perfect information concerning an employee's perception of a fair wage, but assume the perceived fair wage is distributed as a...

In this paper, we introduce uncertainty into Akerlof and Yellen (1990)'s fair wage effort hypothesis. In this uncertain fair wage hypothesis, employers do not have perfect information concerning an employee's perception of a fair wage, but assume the perceived fair wage is distributed as a...

Abstract: Countries with deposit insurances differ significantly on how much protection their insurance provides. We study the optimal coverage limit in a model of deposit insurance with capital requirements and risk sensitive premia to prevent moral hazard. Depositors have incentives to monitor...

In face of modern enterprises' picky needs for marketing talents, the majority of graduates majoring in marketing from agricultural universities and colleges are often criticized due to old marketing concept, mediocre expertise, lack of practical ability and lack of communication skills in the...

It is well known that the discrimination power of data envelopment analysis (DEA) models will be much weakened if too many input or output indicators are used. It is a dilemma if decision makers wish to select comprehensive indicators, which often have some hierarchical structures, to present a...

This article reports the results of experimental asset markets in which participants trade two assets with distinct dividend claims. Some traders are able to transact in the markets for both assets, whereas others can trade in only one market. When some are restricted from transacting in one...

This paper examines whether reforms have created a substantial commercial sector with market characteristics in China's financial system. Many studies conclude that the operation of China's capital markets lacks market features, resulting in fragmentation. Yet, this lack of integration coincides...

Several countries have adopted legally separated share markets (LSSM), where local firms market separate claims to the same dividend flow to domestic and foreign investors who cannot arbitrage across LSSM. We designed a laboratory experiment to test whether the inside information in one LSSM is...