We offer a detailed examination of a broad class of 2 x 2 matrix games as a first step toward considering measures of resource distribution and efficiency of outcomes. In the present essay, only noncooperative equilibria and entropic outcomes are considered, and a crude measure of efficiency...

The fiscal crisis encountered by state-local governments since 2008 has again made prominent the issue of how to better prepare for and stabilize expenditures during recessions. Does the economic stabilization function of government, and its theory, still hold? Previous studies focus on federal...

Facing a substantial loss of farmland in the reform era, the Chinese central government established a highly centralized land management system in 1998 to guarantee its capacity to meet the domestic food needs. In order to maintain high-speed economic growth, local governments in China made...

We offer a detailed examination of a broad class of 2 × 2 matrix games as a first step toward considering measures of resource distribution and efficiency of outcomes. In the present essay, only noncooperative equilibria and entropic outcomes are considered, and a crude measure of efficiency...

This article explores the nature of China’s land-use rights system, its evolution and impact on resource allocation and local governments’ public finances. In recent decades, the public ownership of land has not hindered the development of a thriving market economy. Since the inception of...

Using the 2013, 2015 and 2018 waves of China Health and Retirement Longitudinal Study (CHARLS), this paper analyzes the pension gap between the public and non-public sectors and its evolvement in the context of the 2014 reform aiming at integrating the dual-track systems applying the FFL...

Learning personalized consumers’ privacy preferences is crucial for firms and policymakers to establish trust and compliance and guides effective policy-making. Existing approaches rely mostly on private information such as proprietary user behavior data, individual-level demographic and...

Generative AI models have put image generation in the hands of the masses. While some contend this as a boon for creativity, others have argued about the legality of using such tools for commercial purposes. Such models rely on large training datasets that consist of images scraped from the...

Anderson, Goeree and Ramer (1997) observe that although the Uniform consumer density is almost universally assumed in Hotelling style location games, it is more realistic to assume non-uniform distributions. Using Anderson et al.'s (1997) sufficient conditions for the existence of a unique pure...