There has been ample evidence suggesting that ¡°tunneling¡± or expropriation of minority shareholders by the controlling shareholders has been a serious problem in the share market in China. This remains the case, despite the fact that the share division arrangement has been discontinued,...

In this article, we model the government expenditure on the welfare change of general public by means of static and dynamic binary response model for panel data. We analyse the effectiveness of the total magnitude and the structure of the Chinese government expenditure on the basis of its...

In this work, a dynamic system of investment game played by two firms with bounded rationality is proposed. It is assumed that each firm in any period makes a strategy for investment and uses local knowledge to make investment strategy according to the marginal profit observed in the previous...

In many polyandrous species, the last male to mate sires most of the offspring. This phenomenon has been explained as the result of male manipulation, postcopulatory female choice, or both. However, in most previous studies, direct evidence for these explanations is lacking. Here, we report our...

In this paper, we consider a case that a game is played repeatedly in an incomplete learning process where each player updates his belief only in the learning periods rather than all the stages. For fictitious play process with incomplete learning, we discuss the absorbability of Nash...