This paper asks whether government investment "crowds out" or "crowds in" private investment in China. We divide government capital expenditures into two types: (1) investment that serves to provide public goods and infrastructure, and (2) investment in private industry and commerce. The results...

Urban rail transit networks (URTNs) have experienced rapid development and have been receiving much attention recently. In this paper, we comprehensively analyze the topological characteristics of urban rail transit networks, and we find that the average degrees of nodes of urban rail transit...

In this paper we are concerned with backward stochastic differential equations with random default time and their applications to default risk. The equations are driven by Brownian motion as well as a mutually independent martingale appearing in a defaultable setting. We show that these...

We investigate an evolutionary prisoner’s dilemma game among self-driven agents, where collective motion of biological flocks is imitated through averaging directions of neighbors. Depending on the temptation to defect and the velocity at which agents move, we find that cooperation can not...

This paper investigates robust and fast consensus of multi-agent systems subject to external attacks. The strategy of connecting neighbor set is proposed to recover the connectivity of the resulting interconnected network, to improve the robustness against next external attacks, and to guarantee...