Understanding the characteristics of historical droughts will benefit water resource managers because it will reveal the possible impacts that future changes in climate may have on drought, and subsequently, the availability of water resources. The goal of this study was to reconstruct...

Every year around the time of the Chinese New Year, hundreds of millions of people in China return to their hometowns, placing huge pressure on the transportation infrastructure. However, a link between the theoretical model and the Chinese context is missing. This paper provides an in-depth...

This paper explores the relation between institutional quality, trust and stock market participation. In our theoretical motivation, agents update their beliefs in a Bayesian manner based on their historical observations on frauds and they choose to invest in the stock market if their subjective...