Discreet investors exert greater influence on cooperation in the public goods game

This paper studies the evolutionary process of cooperative behavior in a public goods game model with heterogeneous investment strategies in square lattices.In the proposed model,players are divided into defectors,cooperators and discreet investors.Among these,defectors do not participate in investing,discreet investors make heterogeneous investments based on the investment behavior and cooperation value of their neighbors,and cooperators invest equally in each neighbor.In real life,heterogeneous investment is often accompanied by time or economic costs.The discreet investors in this paper pay a certain price to obtain their neighbors'investment behavior and cooperation value,which quantifies the time and economic costs of the heterogeneous investment process.The results of Monte Carlo simulation experiments in this study show that discreet investors can effectively resist the invasion of the defectors,form a stable cooperative group and expand the cooperative advantage in evolution.However,when discreet investors pay too high a price,they lose their strategic advantage.The results in this paper help us understand the role of heterogeneous investment in promoting and maintaining human social cooperation.

Kinematic calibration under the expectation maximization framework for exoskeletal inertial motion capture system

This study presents a kinematic calibration method for exoskeletal inertial motion capture (EI-MoCap) system with considering the random colored noise such as gyroscopic drift.In this method, the geometric parameters are calibrated by the traditional calibration method at first. Then, in order to calibrate the parameters affected by the random colored noise, the expectation maximization (EM) algorithm is introduced. Through the use of geometric parameters calibrated by the traditional calibration method, the iterations under the EM framework are decreased and the efficiency of the proposed method on embedded system is improved. The performance of the proposed kinematic calibration method is compared to the traditional calibration method. Furthermore, the feasibility of the proposed method is verified on the EI-MoCap system. The simulation and experiment demonstrate that the motion capture precision is significantly improved by 16.79%and 7.16%respectively in comparison to the traditional calibration method.

Parental Educational Expectations,Academic Pressure,and Adolescent Mental Health:An Empirical Study Based on CEPS Survey Data

Background:This study aimed to investigate the relationship between parental educational expectations and adolescent mental health problems,with academic pressure as a moderating variable.Methods:This study was based on the baseline data of the China Education Panel Survey,which was collected within one school year during 2013–2014.It included 19,958 samples from seventh and ninth graders,who ranged from 11 to 18 years old.After removing missing values and conducting relevant data processing,the effective sample size for analysis was 16344.The OLS(Ordinary Least Squares)multiple linear regression analysis was used to examine the relationship between parental educational expectations,academic pressure,and adolescents’mental health problems.In addition,we established an interaction term between parents’educational expectations and academic pressure to investigate the moderating effect of academic stress.Results:The study found that adolescents whose parents had high educational expectations reported less mental health problems.(β=−0.195;p<0.001).Additionally,adolescents who had high academic pressure reported more mental health problems.(β=0.649;p<0.001).Furthermore,the study found that academic pressure had a significant moderating effect on the relationship between parental educational expectations and adolescents’mental health problems(β=0.082;p<0.001).Conclusion:Parental educational expectations had a close relationship with adolescents’mental health problems,and academic pressure moderated this relationship.For those adolescents with high levels of academic pressure,the association between high parental educational expectations and mental health problems became stronger.On the contrary,for those adolescents with low levels of academic pressure,the association between high parental educational expectations and mental health problems became weaker.These findings shed new light on how parental educational expectations affected adolescent mental health problems and had significant implications for their healthy development.

Exact controllability of rational expectations model with multiplicative noise and input delay

This paper considers the rational expectations model with multiplicative noise and input delay,where the system dynamics rely on the conditional expectations of future states.The main contribution is to obtain a sufficient condition for the exact controllability of the rational expectations model.In particular,we derive a sufficient Gramian matrix condition and a rank condition for the delay-free case.The key is the solvability of the backward stochastic difference equations with input delay which is derived from the forward and backward stochastic system.

Augmented Appeal China is doubling down on attracting foreign investors through broader market access and improved business environment

Attracting foreign capital is a key pillar of China’s reform and opening up policy,and foreign-funded enterprises are an important component of China’s economy.Currently,China is taking steps to further boost its attractiveness as a foreign direct investment(FDI)destination in order to seek more foreign capital.

Inspired by Innovation China’s hi-tech achievements add to its appeal for foreign investors

China’s focus on nurturing new quality productive forces while promoting high-quality development provides foreign investors with enormous market opportunities and vast development prospects,amid rising uncertainties in the global economic landscape.In a series of recent engagements with China,foreign investors,including British businesses,have expressed confidence in the future prospects of the market.

Exceeding Expectations

The Chinese economy continued to rebound and made solid progress in 2023,despite the complex international situation and numerous risks and challenges.The accelerated economic structural transformation and upgrade,coupled with increasing economic resilience,has resulted in various highlights.

The chaotic behavior among the oil prices, expectation of investors and stock returns: TAR-TR-GARCH copula and TAR-TR-TGARCH copula

This paper has two aims. The first one is to investigate the existence of chaotic structures in the oil prices, expectations of investors and stock returns by combining the Lyapunov exponent and Kolmogorov entropy, and the second one is to analyze the dependence behavior of oil prices, expectations of investors and stock returns from January 02, 1990, to June06, 2017. Lyapunov exponents and Kolmogorov entropy determined that the oil price and the stock return series exhibited chaotic behavior. TAR-TR-GARCH and TAR-TR-TGARCH copula methods were applied to study the co-movement among the selected variables. The results showed significant evidence of nonlinear tail dependence between the volatility of the oil prices, the expectations of investors and the stock returns. Further, upper and lower tail dependence and comovement between the analyzed series could not be rejected. Moreover, the TAR-TR-GARCH and TAR-TR-TGARCH copula methods revealed that the volatility of oil price had crucial effects on the stock returns and on the expectations of investors in the long run.

The study of a neutron spectrum unfolding method based on particle swarm optimization combined with maximum likelihood expectation maximization

The neutron spectrum unfolding by Bonner sphere spectrometer(BSS) is considered a complex multidimensional model,which requires complex mathematical methods to solve the first kind of Fredholm integral equation. In order to solve the problem of the maximum likelihood expectation maximization(MLEM) algorithm which is easy to suffer the pitfalls of local optima and the particle swarm optimization(PSO) algorithm which is easy to get unreasonable flight direction and step length of particles, which leads to the invalid iteration and affect efficiency and accuracy, an improved PSO-MLEM algorithm, combined of PSO and MLEM algorithm, is proposed for neutron spectrum unfolding. The dynamic acceleration factor is used to balance the ability of global and local search, and improves the convergence speed and accuracy of the algorithm. Firstly, the Monte Carlo method was used to simulated the BSS to obtain the response function and count rates of BSS. In the simulation of count rate, four reference spectra from the IAEA Technical Report Series No. 403 were used as input parameters of the Monte Carlo method. The PSO-MLEM algorithm was used to unfold the neutron spectrum of the simulated data and was verified by the difference of the unfolded spectrum to the reference spectrum. Finally, the 252Cf neutron source was measured by BSS, and the PSO-MLEM algorithm was used to unfold the experimental neutron spectrum.Compared with maximum entropy deconvolution(MAXED), PSO and MLEM algorithm, the PSO-MLEM algorithm has fewer parameters and automatically adjusts the dynamic acceleration factor to solve the problem of local optima. The convergence speed of the PSO-MLEM algorithm is 1.4 times and 3.1 times that of the MLEM and PSO algorithms. Compared with PSO, MLEM and MAXED, the correlation coefficients of PSO-MLEM algorithm are increased by 33.1%, 33.5% and 1.9%, and the relative mean errors are decreased by 98.2%, 97.8% and 67.4%.

The effect of overseas investors on local market efficiency:evidence from the Shanghai/Shenzhen–Hong Kong Stock Connect

Using a recent stock market liberalization reform policy in China—the Stock Connect—as a quasi-natural experiment,this study examines the effect of stock market liberalization on market efficiency.Employing a dataset of 17,086 Chinese listed firms covering 2009 to 2018,we find that stock market liberalization improves the market efficiency of the Chinese mainland stock market.We further explore the potential channels through which the Stock Connect can enhance the efficiency of the A-share(A-shares refer to shares issued by Chinese companies incorporated in China's Mainland,traded in the Shanghai Stock Exchange and the Shenzhen Stock Exchange.They are denominated in Chinese RMB(the local currency).A-shares were restricted to local Chinese investors before 2003,are open to foreign investors via the Qualified Foreign Institutional Investor,RMB Qualified Foreign Institutional Investor,or the Stock Connect programs.)market.The findings show that liberalizing capital markets could benefit local market efficiency by increasing stock price informational efficiency and improving corporate governance quality.The additional analysis shows that stock market liberalization has a significant and positive impact on local market efficiency,enhancing firm value and reducing stock crash risk.We conduct various robustness checks to corroborate our findings.This study provides important policy implications for emerging countries liberalizing capital markets for foreign investors.

Iterative Receiver for Orthogonal Time Frequency Space with Index Modulation via Structured Prior-Based Hybrid Belief and Expectation Propagation

Orthogonal Time Frequency Space(OTFS)signaling with index modulation(IM)is a promising transmission scheme characterized by high transmission efficiency for high mobility scenarios.In this paper,we study the receiver for coded OTFS-IM system.First,we construct the corresponding factor graph,on which the structured prior incorporating activation pattern constraint and channel coding is devised.Then we develop a iterative receiver via structured prior-based hybrid belief propagation(BP)and expectation propagation(EP)algorithm,named as StrBP-EP,for the coded OTFS-IM system.To reduce the computational complexity of discrete distribution introduced by structured prior,Gaussian approximation conducted by EP is adopted.To further reduce the complexity,we derive two variations of the proposed algorithm by using some approximations.Simulation results validate the superior performance of the proposed algorithm.

Self-Frustration of Expectations in Major Depressive Disorder: The Syncytiopathy Hypothesis of Depression Revisited

This paper is a further elaboration of my model of the pathophysiology of major depressive disorder focusing on imbalances of glial-neuronal interactions in tripartite synapses and the glial network (syncytium). Basically, it is proposed that the connexin proteins building gap junctions in the glial syncytium are underexpressed or dysfunctional in major depression, called syncytiopathy. As a compensatory effect the astrocytic receptors in tripartite synapses are overexpressed. This leads to protracted synaptic information processing because of a relative lack of neurotransmitter substances for the occupancy of astrocytic receptors. Based on a new biophysical formal description of astrocytic receptors as expectation variables it can be shown that the protracted processing of sensory information frustrate the full comprehension of the expected event, since it cannot be grasped in time. Moreover, expectation frustration may stress the glial syncytium aggravating memory impairment. This cyclic process of dysbalanced synaptic information processing is characterized as self-frustration of expectations explanatory for the main cognitive dysfunctions in major depression as slowing down processing speed, deficits in attention and working memory. The main result of the study is that patients with major depression cannot fully acknowledge the existence of an intended event.

Complete moment convergence for ND random variables under the sub-linear expectations

In this article,we establish a general result on complete moment convergence for arrays of rowwise negatively dependent(ND)random variables under the sub-linear expectations.As applications,we can obtain a series of results on complete moment convergence for ND random variables under the sub-linear expectations.

The Effects of Job Insecurity, Emotional Exhaustion, and Met Expectations on Hotel Employees’ Pro-Environmental Behaviors: Test of a Serial Mediation Model

There are a plethora of empirical pieces about employees’pro-environmental behaviors.However,the extant literature has either ignored or not fully examined various factors(e.g.,negative or positive non-green workplace factors)that might affect employees’pro-environmental behaviors.Realizing these voids,the present paper proposes and tests a serial mediation model that examines the interrelationships of job insecurity,emotional exhaustion,met expectations,and proactive pro-environmental behavior.We used data gathered from hotel customer-contact employees with a time lag of one week and their direct supervisors in China.After presenting support for the psychometric properties of the measures via confirmatory analysis in LISREL 8.30,the abovementioned linkages were gauged using the PROCESS plug-in for statistical package for social sciences.The findings delineated support for the hypothesized associations.Specifically,emotional exhaustion and met expectations partly mediated the effect of job insecurity on proactive pro-environmental behavior.More importantly,emotional exhaustion and met expectations serially mediated the influence of job insecurity on proactive pro-environmental behavior.These findings have important theoretical implications as well as significant implications for diminishing job insecurity,managing emotional exhaustion,increasing met expectations,and enhancing ecofriendly behaviors.

Exceeding Expectations

Despite of the negative impact of the COVID-19 pandemic,China’s economic growth remained stable in 2022,which will benefit China-Africa economic cooperation this year.China’s GDP growth reached 3 percent year on year in 2022,the National Bureau of Statistics said on 16 January.

Modeling Expected Failure Considering Repair Time and Degradation: A Rail System Case Study

The repeated failures of any equipment or systems are modeled as a renewal process. The management needs an assessment of the number of future failures to allocate the resources needed for fast repairs. Based on the idea of expectation by conditioning, special Volterra-type integral equations are derived for general types of repairs, considering the length of repair and reduced degradation of the idle object. In addition to minimal repair and failure replacement, partial repairs are also discussed when the repair results in reduction of the number of future failures or decreases the effective age of the object. Numerical integration-based algorithm and simulation study are performed to solve the resulting integral equation. Since the geometry degradation in different dimensions of a rail track and controlling and maintaining defects are of importance, a numerical example using the rail industry data is conducted. Expected number of failures of different failure type modes in rail track is calculated within a two-year interval. Results show that within a two-year period, anticipated occurrences of cross level failures, surface failures, and DPI failures are 2.4, 3.8, and 5.8, respectively.

The Current Situation and Future Expectationsof China's Pilot Boatsl

Pilots need to board the ship for pilotage,but there are risks or potential dangers in the transfer of pilot.The author reviewed the history of the development of pilot boats,analyzed the potential risks or dangers of transferring pilot,proposed that pilot boat shall have the function of ensuring the safety of pilot when embarking or disembarking the ships,some suggestions on the future design and manufacture of Chinese pilot boats are also given according to the advantages and disadvantages of domestic and foreign pilot boats.

An Analysis of the Expectations Gap:Can it be eliminated?

The "expectations gap" signifies the differences between what the public expects from an audit and what the auditing profession prefers the audit objectives to be.Although the gap exists,it seems that the professions trust that it could be eliminated.In this paper,further evidence was provided to deny the above point by exploring the inevitability nature and the structure of the audit expectation gap.In addition,the author concludes that expectations gap cannot be eliminated;instead,the only thing can be done is to narrow down the gap.

《The influence of institutional investors on myopic R&D investment behavior》述评

机构投资者作为证券市场中的重要力量,越来越受到理论界和实务界的关注。论文对宾夕法尼亚大学沃顿商学院会计学教授布赖恩-布希(Brian Bushee)的论文"The influence of institutional investors on myopic R&D investment behavior"(机构投资者对企业短视研发投资行为的影响,以下简称Bushee(1998))进行评价并提出相关的建议和研究方向。

Expectations for English Teachers

In the article,the author consciously compared American educational systems and the students'expectation of their teachers with their Chinese equivalents.An investigation about students'expectations towards their teachers is done among college freshmen she was teaching.The result is both exciting and worrying.Through careful analysis and summary she has made,the author hopes it will arouse concerns of both teachers and students.