An Ms7.0 earthquake, focal depth 13 km, struck Lushan on April 20, 2013, caused 196 deaths and 21 missing, 13,484 injuries, and affected more than two million people. A field investigation was taken immediately after the quake, and the induced hazards were analyzed in comparison with the...

In this article, we attempt to explain the fair outcome of ultimatum game experiments using the evolutionary dynamics. The players of the game, the proposers and the responders, are randomly matched to play the game. When the responders face low offers from the proposers, their decisions are...

This paper empirically tests the effect of financial knowledge spillovers on agglomeration in China's financial services industry and examines the external effects on cities' economies. The authors apply hierarchical linear modeling to examine a data set that comprises 276 Chinese cities and...

This study takes a real options perspective towards venture capital staging and views the staging decision as a choice between holding the current option to invest and investing now to obtain the option to invest subsequently. It proposes that this staging decision depends on the factors that...

The current interest in complex networks is a part of a broader movement towards research on complex systems. Motivation of this work raises the two challenging questions: (i) Are real networks fundamentally random preferential attached without any deterministic attachment for both un-weighted...

We discuss recent developments in real options theory and its applications to strategic management research, examine the potential difficulties in implementing real options in theory and practice, and propose several areas for future research. Our review shows that real options theory has...

A new posterior odds analysis is proposed to test for a unit root in volatility dynamics in the context of stochastic volatility models. Our analysis extends the Bayesian unit root test of So and Li (1999, Journal of Business and Economic Statistics) in the two important ways. First, a...

Heteroscedasticity checking in regression analysis plays an important role in modelling. It is of great interest when random errors are correlated, including autocorrelated and partial autocorrelated errors. In this paper, we consider multivariate <italic>t</italic> linear regression models, and construct the...

This paper empirically analyzes how often and why individuals drop their long-term care insurance (LTCI) coverage, using data from the 2002-2008 Health and Retirement Study. It finds that over a two-year period 13% of LTCI policies lapse. It also finds that the probability of an LTCI lapse...

Hypothesis testing using Bayes factors (BFs) is known not to be well dened under the improper prior. In the context of latent variable models, an additional problem with BFs is that they are difficult to compute. In this paper, a new Bayesian method, based on decision theory and the EM...