Reform and opening up to the outside world constitutes a basic long-term state policy that China adheres to 20 odd years’ reform and development has brought about profound changes to the Chinese economy. First, China...Reform and opening up to the outside world constitutes a basic long-term state policy that China adheres to 20 odd years’ reform and development has brought about profound changes to the Chinese economy. First, China has transformed from a planned economy to展开更多
For the capital market satisfying standard assumptions that are widely adopted in the equilibrium analysis,a necessary and sufficient condition for the existence and uniqueness of a nonnegative equilibrium price vecto...For the capital market satisfying standard assumptions that are widely adopted in the equilibrium analysis,a necessary and sufficient condition for the existence and uniqueness of a nonnegative equilibrium price vector that clears the mean-variance capital market with short sale allowed is derived.Moreover,the given explicit formula for the equilibrium price shows clearly the relationship between prices of assets and statistical properties of the rate of return on assets,the desired rates of return of individual investors as well as other economic quantities.The economic implication of the derived condition is briefly discussed.These results improve the available results about the equilibrium analysis of the mean-variance market.展开更多
Educational values in both the United States and in China have suffered from the social and political reach of economic markets in each society.The models for counteracting the marketization of values in higher educat...Educational values in both the United States and in China have suffered from the social and political reach of economic markets in each society.The models for counteracting the marketization of values in higher education can however be found in each country’s past educational traditions.Surprisingly,the developmental values inherent in small liberal arts college teaching dovetail easily with the personal developmental benefits in the pedagogy of classical Confucian academies,as both center on the validation of the process by which students learn for themselves.展开更多
文摘Reform and opening up to the outside world constitutes a basic long-term state policy that China adheres to 20 odd years’ reform and development has brought about profound changes to the Chinese economy. First, China has transformed from a planned economy to
基金the Natural Science Foundation of Shaanxi Province(2 0 0 1 SL0 9)
文摘For the capital market satisfying standard assumptions that are widely adopted in the equilibrium analysis,a necessary and sufficient condition for the existence and uniqueness of a nonnegative equilibrium price vector that clears the mean-variance capital market with short sale allowed is derived.Moreover,the given explicit formula for the equilibrium price shows clearly the relationship between prices of assets and statistical properties of the rate of return on assets,the desired rates of return of individual investors as well as other economic quantities.The economic implication of the derived condition is briefly discussed.These results improve the available results about the equilibrium analysis of the mean-variance market.
文摘Educational values in both the United States and in China have suffered from the social and political reach of economic markets in each society.The models for counteracting the marketization of values in higher education can however be found in each country’s past educational traditions.Surprisingly,the developmental values inherent in small liberal arts college teaching dovetail easily with the personal developmental benefits in the pedagogy of classical Confucian academies,as both center on the validation of the process by which students learn for themselves.
