Monetary incentives underlie academic publications,especially in countries where many researchers'incomes are performance-based.Evidence has documented that social ties improve the chances of publication in journa...Monetary incentives underlie academic publications,especially in countries where many researchers'incomes are performance-based.Evidence has documented that social ties improve the chances of publication in journals,whereas building and maintaining social ties require resources.We develop a simple model to investigate the consequences of monetary investment on the probability of publication through social ties.The results indicate that monetary incentive can stimulate researchers to make more efforts regarding publication.Through social ties,monetary investment in the process of academic publication distorts researchers'incentive.Monetary investment through social ties improves the probability of publication and then disables the signaling function of publication in terms of researchers'abilities.Depending on the contribution of different types of researchers to society and the ability of the latter to differentiate the quality of publication in journals,the improvement in publication probability by monetary investment through social ties may improve or reduce the level of social welfare.展开更多
The real estate market in China is often subject to government intervention while it is widely believed that speculation is one of the driving forces for the dramatic increase in house price.By controlling macroeconom...The real estate market in China is often subject to government intervention while it is widely believed that speculation is one of the driving forces for the dramatic increase in house price.By controlling macroeconomic factors,we detect two types of speculative traders,fundamentalists and chartists,respectively.Fundamentalists rely on fundamental value for trading while chartists hold a momentum expectation.We further assess the effects of government intervention policies on house price and speculation.The tightening policy cools down while the stimulating policy enhances the speculation.The contrasting effects of different policies on speculations indicate the challenge in handling the Chinese housing market.展开更多
文摘Monetary incentives underlie academic publications,especially in countries where many researchers'incomes are performance-based.Evidence has documented that social ties improve the chances of publication in journals,whereas building and maintaining social ties require resources.We develop a simple model to investigate the consequences of monetary investment on the probability of publication through social ties.The results indicate that monetary incentive can stimulate researchers to make more efforts regarding publication.Through social ties,monetary investment in the process of academic publication distorts researchers'incentive.Monetary investment through social ties improves the probability of publication and then disables the signaling function of publication in terms of researchers'abilities.Depending on the contribution of different types of researchers to society and the ability of the latter to differentiate the quality of publication in journals,the improvement in publication probability by monetary investment through social ties may improve or reduce the level of social welfare.
基金supported by The National Social Science Foundation China(Grant No.21BJY237)。
文摘The real estate market in China is often subject to government intervention while it is widely believed that speculation is one of the driving forces for the dramatic increase in house price.By controlling macroeconomic factors,we detect two types of speculative traders,fundamentalists and chartists,respectively.Fundamentalists rely on fundamental value for trading while chartists hold a momentum expectation.We further assess the effects of government intervention policies on house price and speculation.The tightening policy cools down while the stimulating policy enhances the speculation.The contrasting effects of different policies on speculations indicate the challenge in handling the Chinese housing market.
