For spatial decision-making of real estate developers, they should consider residential stratification of people with different income which affect housing price spatially. Because of the minimum size when buying a house, there are mixed stratification and people called “rigid demanders”...

This paper examines the effect of greater transparency on firm investments. Using a difference-in-differences design, we find that greater transparency, due to an increase in reporting credibility, reduces the level and efficiency of intangible investments. Our findings can be explained by...