This paper explores people’s behavior when they are facing financial risks. Through the setting of an economics experiment, people’s willingness to bear financial risks and their tendency to impose risks on others are investigated. The experiment result shows that most people are...

This paper focuses on the impacts of oil revenues on government fiscal policy when we have externality of human capital in economic. Therefore, we devised a fiscal policy capable to make the decentralized economy to achieve the first-best equilibrium in the Uzawa-Lucas model. The results of this...