Pre-drying of lignite before feeding to the boiler is a potential way to increase the net efficiency of lignite-fired power plants. Lignite pre-drying is, however, a high energy consumption process with a high risk of spontaneous ignition. If the lignite is dried at low temperature, the...

In this paper, we study the economics of parking provision for the morning commute, where all the parking lots are owned and operated by private operators. The parking capacity allocations, parking fees and access times are considered in a parking market. First we solve the parking market...

In this paper, we discuss the dynamic behavior of networks of dynamic agents with general communication topologies. We first analyze the basic case: systems with communication topologies that have spanning trees, i.e., the systems that solve consensus problems. We establish an algebraic...

During the 1990s, the Chinese government increasingly relied on the stock market as the major tool for state-owned enterprise (SOE) reform and for the allocation of investment resources. This paper investigates the impact of stock market development in China on firm-level capital investment by...

This paper evaluates the fundamental efficiency of stock market valuations in China. Utilizing a panel data set constructed by the author of all Chinese listed firms for the 1992-1999 period, this study finds that stock valuations in China deviate significantly from underlying firm-level...