I examine incentive contracting with an agent who disagrees with the principal and creates organizational frictions when the actual performance evaluation and compensation fall short of what he thinks he should earn. Results show that seemingly rigid policies, such as long-term performance...

We use firm's endogenous contractual response to help implement the constrained first best through a simple yet powerful progressive labor income tax system. In our model, workers privately experience both a persistent ability shock and many transient productivity shocks during their life...

In the past few years, several entropy-based tests have been proposed for testing either single SNP association or gene-gene interaction. These tests are mainly based on Shannon entropy and have higher statistical power when compared to standard χ2 tests. In this paper, we extend some of these...

CO2 is a significant greenhouse gas. CO2 emissions result mainly from energy consumption, which is closely related to the rate of economic development, efficiency of energy use and the structure of the energy-supply system. We estimate CO2 emissions in Shanghai for 1990 and 2010 and compare our...

Financial derivatives are considered efficient risk management instruments that help firms avoid financial risks and improve firm value. Yet, based on a sample of publicly traded firms with foreign sales in China, we find that state-owned enterprises (SOEs) conduct derivative hedging both at a...

Scenic tourist buildings are the important material security conditions for famous scenic cities to carry out tourism activities, and the level of their planning and design will directly affect the tourists' recognition of the scenic spots. Based on this, a research on the evaluation of the...