The mathematical approach is threatening the progress of economics,as it tends to disregard the complexity of economic behaviour and the unpredictability of human actions.——Friedrich Hayek The reliance on mathematic...The mathematical approach is threatening the progress of economics,as it tends to disregard the complexity of economic behaviour and the unpredictability of human actions.——Friedrich Hayek The reliance on mathematical models in economics has long been debated,with critics arguing that this approach fails to capture the complexity of human behavior and the unpredictability of economic systems.While mathematics provides a structured method for analyzing economic processes,it often simplifies decision-making to a one-dimensional utility function,neglecting social,psychological,and political influences.This paper examines the limitations of classical and neoclassical economic theories that heavily depend on mathematical rigor,highlighting the pitfalls of models like the Rational Agent Model,General Equilibrium Theory,and Expected Utility Theory.Drawing on examples such as the 2008 financial crisis and the Terra/Luna cryptocurrency collapse,the paper demonstrates how over-reliance on equations has led to inaccurate predictions and ineffective policy decisions.It calls for a more interdisciplinary approach that integrates insights from psychology and sociology to address the gaps left by traditional mathematical economics.展开更多
This paper critically examines the escalating trend of mathematization in economics,highlighting its implications and controversies in contemporary economic research.While the application of sophisticated mathematical...This paper critically examines the escalating trend of mathematization in economics,highlighting its implications and controversies in contemporary economic research.While the application of sophisticated mathematical models and statistical techniques has enhanced the precision,rigor,and status of economics within academia and practical application,concerns arise regarding the potential oversimplification and detachment from real-world complexities.The adoption of mathematical tools has arguably led to a focus on theoretically tractable problems at the expense of those more relevant to practical economic and social issues.This paper explores both the benefits and limitations of this trend,discussing how the reliance on quantitative methods affects the innovation,comprehensibility,and application of economic theories.We argue for a balanced approach that fosters innovation by integrating qualitative insights and embracing interdisciplinary methods to ensure economics remains both rigorous and relevant to societal needs.展开更多
Green finance,as an important branch of modern finance,has far-reaching significance that is not limited to the financial sector.By promoting green investment and optimizing resource allocation,green finance plays a c...Green finance,as an important branch of modern finance,has far-reaching significance that is not limited to the financial sector.By promoting green investment and optimizing resource allocation,green finance plays a crucial role in reducing environmental pollution and carbon emissions.At the same time,it can also promote the quality of economic growth and achieve the harmonious development of economy,society and environment.Based on China's provincial panel data from 2008 to 2022,the direct impact and indirect transmission mechanism of green finance on high-quality economic development are analyzed by constructing a dynamic panel model and a mediation effect model.It is found that green finance not only directly promotes the high-quality development of the economy,but also indirectly promotes the sustainable and healthy growth of the economy through the transmission channel of technological innovation.This mediating effect of technological innovation is as high as 78.65%,which shows the close connection between green finance and high-quality economic development.In addition,the study also found that the direct promotion effect of green finance on high-quality economic development has significant regional heterogeneity.The results of this study suggest that when formulating relevant policies,it is necessary to fully consider the actual situation of each region and tailor them to the local conditions to ensure the in-depth promotion of green finance and the overall development of the economy.展开更多
This paper conducts a comprehensive review of existing research on Privacy by Design (PbD) and behavioral economics, explores the intersection of Privacy by Design (PbD) and behavioral economics, and how designers can...This paper conducts a comprehensive review of existing research on Privacy by Design (PbD) and behavioral economics, explores the intersection of Privacy by Design (PbD) and behavioral economics, and how designers can leverage “nudges” to encourage users towards privacy-friendly choices. We analyze the limitations of rational choice in the context of privacy decision-making and identify key opportunities for integrating behavioral economics into PbD. We propose a user-centered design framework for integrating behavioral economics into PbD, which includes strategies for simplifying complex choices, making privacy visible, providing feedback and control, and testing and iterating. Our analysis highlights the need for a more nuanced understanding of user behavior and decision-making in the context of privacy, and demonstrates the potential of behavioral economics to inform the design of more effective PbD solutions.展开更多
The article aims to discuss how to cultivate outstanding agricultural economics and management talents to meet the needs of agricultural and rural economic development in the new era,within the context of ideological ...The article aims to discuss how to cultivate outstanding agricultural economics and management talents to meet the needs of agricultural and rural economic development in the new era,within the context of ideological and political education.Through literature review and field research,a series of innovative talent training optimization paths are proposed,and specific suggestions are made for policymakers and educational practitioners.展开更多
In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential inve...In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential investigations into the use of supercritical carbon dioxide (sCO2) power cycles. Climate change mitigation is the ultimate driver for this increased interest;other relevant issues include the potential for high cycle efficiency and a circular economy. In this study, a 25 MWe recompression closed Brayton cycle (RCBC) has been assessed, and sCO2 has been proposed as the working fluid for the power plant. The methodology used in this research work comprises thermodynamic and techno-economic analysis for the prospective commercialization of this sCO2 power cycle. An evaluated estimation of capital expenditure, operational expenditure, and cost of electricity has been considered in this study. The ASPEN Plus simulation results have been compared with theoretical and mathematical calculations to assess the performance of the compressors, turbine, and heat exchangers. The results thus reveal that the cycle efficiency for this prospective sCO2 recompression closed Brayton cycle increases (39% - 53.6%) as the temperature progressively increases from 550˚C to 900˚C. Data from the Aspen simulation model was used to aid the cost function calculations to estimate the total capital investment cost of the plant. Also, the techno-economic results have shown less cost for purchasing equipment due to fewer components being required for the cycle configuration as compared to the conventional steam power plant.展开更多
The integration of linguistics and economics, economics of language, is a new peripheral subject based on theory of west ern human capital and educational economics. Catchwords which reflect many theories of economics...The integration of linguistics and economics, economics of language, is a new peripheral subject based on theory of west ern human capital and educational economics. Catchwords which reflect many theories of economics of language enter into people's scope of research. Study of catchword is of great significance for the enrichment of research of human language.展开更多
随着中国"一带一路"倡议的推进和高等教育国际化的发展,高职层次商科留学生人数迅速增加,相应的英文授课课程建设迅速涌现。本文对江苏高校留学生精品课程"Introduction to Economics"的课程定位、课程内容设置、...随着中国"一带一路"倡议的推进和高等教育国际化的发展,高职层次商科留学生人数迅速增加,相应的英文授课课程建设迅速涌现。本文对江苏高校留学生精品课程"Introduction to Economics"的课程定位、课程内容设置、教学资源建设、教学方法使用、考核评价方式等建设过程进行了总结,并提出了进一步强化建设效果的设想,为高职商科全英文授课课程建设提供参考。展开更多
3月22日,Major All Stars总决赛在马来西亚首度吉隆坡落下帷幕,代表中国参赛的iG收获了最终冠军。值得一提的是,这也是B神加盟iG以来收获的首个线下赛冠军!MB组合线下首秀参加本次MAS总决赛的共有8支队伍,除了iG之外,还有Na’Vi、Empire...3月22日,Major All Stars总决赛在马来西亚首度吉隆坡落下帷幕,代表中国参赛的iG收获了最终冠军。值得一提的是,这也是B神加盟iG以来收获的首个线下赛冠军!MB组合线下首秀参加本次MAS总决赛的共有8支队伍,除了iG之外,还有Na’Vi、Empire、Rave等世界一线队伍。在这些参赛队中,Na’Vi和Empire无疑是iG的最大对手。展开更多
From the perspective of Language Economics,language education(including second language or foreign language education)is an economically valuable investment that has the function of promoting social development.Howeve...From the perspective of Language Economics,language education(including second language or foreign language education)is an economically valuable investment that has the function of promoting social development.However,there is an imbalance in the input and output of China’s college English education.From the perspective of language economics,this article focuses on the reform of College English courses in order to improve the efficiency of English teaching in common universities.展开更多
以国际权威期刊《Forest Policy and Economics》为例,选取其2007—2017年刊发的与中国林业经济问题相关的文献,从国际视角对中国林业经济问题进行梳理与总结。基于统计分析,刊发的文献总体呈现数量波动增长、内容多样化、合作形式国际...以国际权威期刊《Forest Policy and Economics》为例,选取其2007—2017年刊发的与中国林业经济问题相关的文献,从国际视角对中国林业经济问题进行梳理与总结。基于统计分析,刊发的文献总体呈现数量波动增长、内容多样化、合作形式国际化,研究区域具体化,定量分析为主等特点。从林产品贸易、森林资源经营管理、森林转型等主题展开对中国林业经济研究的论述,以期为我国相关学者全面把握中国林业经济前沿研究进展和发展趋势提供参考与借鉴。展开更多
The Chinese economy has achieved remarkable development over the past 40 years of reform and opening-up.However,with the narrowing of potential for efficiency improvement from resources reallocation and changes in pop...The Chinese economy has achieved remarkable development over the past 40 years of reform and opening-up.However,with the narrowing of potential for efficiency improvement from resources reallocation and changes in population age structure,the Chinese economy has moved from high-speed growth to high-quality development.In this setting,understanding factor endowment and comparative advantages of the economy from a perspective of human capital structure so as to enhance industrial structure adaptability by riding the trend is of significance for cultivating new driving force for economic development.This paper,following a theoretical paradigm of new structural economics,demonstrates how human capital structure matches industrial structure and the presence of optimal human capital structure using mathematical deduction.On this basis,national level panel data and instrumental variables are adopted for generalized method of moments,the results of which shows that there are varied impacts on economic growth in light of different human capital structure characteristics.The proportions of high-level human capital and medium-level human capital boost economic development,while that of low-level human capital has an inhibitory effect on economic growth.The policy implication of this study is that large economies should diversify efforts as per different human capital structure characteristics in terms of development need of tapping growth impetus from human capital structure improvement.It is of equal importance to raise the proportion of high and medium human capital in order to stimulate economic growth and to cut the proportion of low human capital that hinders economic development.展开更多
Based on the data of gross domestic product(GDP),industrial added value and the proportion of industrial employees from 2000 to 2008,this paper studies the effect of industrial structure change on the regional economi...Based on the data of gross domestic product(GDP),industrial added value and the proportion of industrial employees from 2000 to 2008,this paper studies the effect of industrial structure change on the regional economic growth of Beijing-Tianjin-Hebei Metropolitan Region in China using the shift-share method.The results show that:1) In the 21st century,the industrial output of three industries,namely,primary,secondary,and tertiary,and the GDP grew rapidly in the study period.The tertiary industry grew the fastest;it had the largest contribution to the GDP and mean-while had become the most competitive industry in the metropolitan region.2) The development of cities within the region was not balanced.Firstly,compared with Tianjin,Beijing,as one of the two core cities,was more rational in the industrial structure.Secondly,the surrounding eight cities,which are Shijiazhuang,Qinhuangdao,Tangshan,Langfang,Baoding,Cangzhou,Zhangjiakou,and Chengde,were all uncompetitive than the two core cities.3) There was a great industrial gradient in the region(especially between the two core cities and the cities of Tangshan,Baoding,Zhangjia-kou,Chengde,Cangzhou,and Langfang).As a result,it is foreseeable that the industry transfer in the Bei-jing-Tianjin-Hebei Metropolitan Region will be one of the trends in regional development,and the industry transfer is inevitably to promote the regional integration.展开更多
This study provides empirical evidence on the link between economic growth and nutrition transition in two emerging economies, China and Russia. Both countries have experienced rising average incomes, accompanied by a...This study provides empirical evidence on the link between economic growth and nutrition transition in two emerging economies, China and Russia. Both countries have experienced rising average incomes, accompanied by an increasing rate of nutrition-related chronic diseases in recent years. Given the regional heterogeneity between these two countries, we analyze the extent to which income growth as a major driver of nutrition transition has a significant effect on the consumption of different food aggregates and how these effects differ between Chinese and Russian consumers. Our results indicate that with increasing household incomes over time the demand for carbohydrates decreases, while the demand for meat and dairy products, as well as fruits increases. This is a development generally known as nutrition transition. Further, we estimate a Quadratic Almost Ideal Demand System(QUAIDS) for nine different food aggregates for China and Russia. Our results indicate that in both countries all food aggregates have positive expenditure elasticities and are thus normal goods. Moreover, our results indicate that in 2008/2009 meat is still a luxury good in China yet a necessity good in Russia. For 2009, the highest own-price elasticities in China are found for non-meat protein sources and dairy products. Within the meat group, beef, poultry and mutton have the highest price elasticities in China. In Russia, the milk and dairy group, together with the vegetable group, is the most price-elastic food group in 2008. In line with the definition of a nutrition transition, our overall results underscore the finding that income growth in China and Russia tends to increase the demand for animal-based products much stronger than, for example, the demand for carbohydrates. Despite being a positive signal for problems of malnutrition in rural China, this trend of increasing meat consumption might further increase the incidence of chronic diseases in urban areas since there is convincing scientific evidence that increasing meat consumption, especially red and processed meat, is associated with an increased risk of chronic diseases.展开更多
In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based ...In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based financial technologies(Fintech)have been identified as important disruptive driving forces for this paradigm shift.In this paper,we take an information economics perspective to investigate how big data affects the transformation of the lending industry.By identifying how signaling and search costs are reduced by big data analytics for credit risk management of P2P lending,we discuss how information asymmetry is reduced in the big data era.Rooted in the lending business,we propose a theory on the economics of big data and outline a number of research opportunities and challenging issues.展开更多
文摘The mathematical approach is threatening the progress of economics,as it tends to disregard the complexity of economic behaviour and the unpredictability of human actions.——Friedrich Hayek The reliance on mathematical models in economics has long been debated,with critics arguing that this approach fails to capture the complexity of human behavior and the unpredictability of economic systems.While mathematics provides a structured method for analyzing economic processes,it often simplifies decision-making to a one-dimensional utility function,neglecting social,psychological,and political influences.This paper examines the limitations of classical and neoclassical economic theories that heavily depend on mathematical rigor,highlighting the pitfalls of models like the Rational Agent Model,General Equilibrium Theory,and Expected Utility Theory.Drawing on examples such as the 2008 financial crisis and the Terra/Luna cryptocurrency collapse,the paper demonstrates how over-reliance on equations has led to inaccurate predictions and ineffective policy decisions.It calls for a more interdisciplinary approach that integrates insights from psychology and sociology to address the gaps left by traditional mathematical economics.
文摘This paper critically examines the escalating trend of mathematization in economics,highlighting its implications and controversies in contemporary economic research.While the application of sophisticated mathematical models and statistical techniques has enhanced the precision,rigor,and status of economics within academia and practical application,concerns arise regarding the potential oversimplification and detachment from real-world complexities.The adoption of mathematical tools has arguably led to a focus on theoretically tractable problems at the expense of those more relevant to practical economic and social issues.This paper explores both the benefits and limitations of this trend,discussing how the reliance on quantitative methods affects the innovation,comprehensibility,and application of economic theories.We argue for a balanced approach that fosters innovation by integrating qualitative insights and embracing interdisciplinary methods to ensure economics remains both rigorous and relevant to societal needs.
基金supported by the Sanya College School-level Research Project(Grant No.USYYB22-15)the 2022 Hainan Regional Economic Cooperation and Development Research Association-Sanya College Co-construction Project(Grant No.USYGJXM22-07).
文摘Green finance,as an important branch of modern finance,has far-reaching significance that is not limited to the financial sector.By promoting green investment and optimizing resource allocation,green finance plays a crucial role in reducing environmental pollution and carbon emissions.At the same time,it can also promote the quality of economic growth and achieve the harmonious development of economy,society and environment.Based on China's provincial panel data from 2008 to 2022,the direct impact and indirect transmission mechanism of green finance on high-quality economic development are analyzed by constructing a dynamic panel model and a mediation effect model.It is found that green finance not only directly promotes the high-quality development of the economy,but also indirectly promotes the sustainable and healthy growth of the economy through the transmission channel of technological innovation.This mediating effect of technological innovation is as high as 78.65%,which shows the close connection between green finance and high-quality economic development.In addition,the study also found that the direct promotion effect of green finance on high-quality economic development has significant regional heterogeneity.The results of this study suggest that when formulating relevant policies,it is necessary to fully consider the actual situation of each region and tailor them to the local conditions to ensure the in-depth promotion of green finance and the overall development of the economy.
文摘This paper conducts a comprehensive review of existing research on Privacy by Design (PbD) and behavioral economics, explores the intersection of Privacy by Design (PbD) and behavioral economics, and how designers can leverage “nudges” to encourage users towards privacy-friendly choices. We analyze the limitations of rational choice in the context of privacy decision-making and identify key opportunities for integrating behavioral economics into PbD. We propose a user-centered design framework for integrating behavioral economics into PbD, which includes strategies for simplifying complex choices, making privacy visible, providing feedback and control, and testing and iterating. Our analysis highlights the need for a more nuanced understanding of user behavior and decision-making in the context of privacy, and demonstrates the potential of behavioral economics to inform the design of more effective PbD solutions.
基金The First Batch of the National New Liberal Arts Research and Reform Practice Project(2021090093)The XPCC University Curriculum Ideological and Political Demonstration Course Project“International Logistics”+3 种基金The Model Course of Tarim University“Development Economics”Project of Agriculture and Forestry Economy Management Teaching Committee of Ministry of Education(NJX22141)Ideological and Political Program of Tarim University Graduate Program(TDYKT202401)Graduate Teaching Reform Project of Tarim University(TDETR202218)。
文摘The article aims to discuss how to cultivate outstanding agricultural economics and management talents to meet the needs of agricultural and rural economic development in the new era,within the context of ideological and political education.Through literature review and field research,a series of innovative talent training optimization paths are proposed,and specific suggestions are made for policymakers and educational practitioners.
文摘In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential investigations into the use of supercritical carbon dioxide (sCO2) power cycles. Climate change mitigation is the ultimate driver for this increased interest;other relevant issues include the potential for high cycle efficiency and a circular economy. In this study, a 25 MWe recompression closed Brayton cycle (RCBC) has been assessed, and sCO2 has been proposed as the working fluid for the power plant. The methodology used in this research work comprises thermodynamic and techno-economic analysis for the prospective commercialization of this sCO2 power cycle. An evaluated estimation of capital expenditure, operational expenditure, and cost of electricity has been considered in this study. The ASPEN Plus simulation results have been compared with theoretical and mathematical calculations to assess the performance of the compressors, turbine, and heat exchangers. The results thus reveal that the cycle efficiency for this prospective sCO2 recompression closed Brayton cycle increases (39% - 53.6%) as the temperature progressively increases from 550˚C to 900˚C. Data from the Aspen simulation model was used to aid the cost function calculations to estimate the total capital investment cost of the plant. Also, the techno-economic results have shown less cost for purchasing equipment due to fewer components being required for the cycle configuration as compared to the conventional steam power plant.
文摘The integration of linguistics and economics, economics of language, is a new peripheral subject based on theory of west ern human capital and educational economics. Catchwords which reflect many theories of economics of language enter into people's scope of research. Study of catchword is of great significance for the enrichment of research of human language.
基金2018年江苏高校省级外国留学生英文授课精品课程培育项目“Introduction to Economics”扬州工业职业技术学院2019—2020学年校级教育教学改革一般课题《“Introduction to Economics”留学生英文授课精品课程建设研究与实践》,编号:2019XJJG06。
文摘随着中国"一带一路"倡议的推进和高等教育国际化的发展,高职层次商科留学生人数迅速增加,相应的英文授课课程建设迅速涌现。本文对江苏高校留学生精品课程"Introduction to Economics"的课程定位、课程内容设置、教学资源建设、教学方法使用、考核评价方式等建设过程进行了总结,并提出了进一步强化建设效果的设想,为高职商科全英文授课课程建设提供参考。
文摘3月22日,Major All Stars总决赛在马来西亚首度吉隆坡落下帷幕,代表中国参赛的iG收获了最终冠军。值得一提的是,这也是B神加盟iG以来收获的首个线下赛冠军!MB组合线下首秀参加本次MAS总决赛的共有8支队伍,除了iG之外,还有Na’Vi、Empire、Rave等世界一线队伍。在这些参赛队中,Na’Vi和Empire无疑是iG的最大对手。
文摘From the perspective of Language Economics,language education(including second language or foreign language education)is an economically valuable investment that has the function of promoting social development.However,there is an imbalance in the input and output of China’s college English education.From the perspective of language economics,this article focuses on the reform of College English courses in order to improve the efficiency of English teaching in common universities.
文摘以国际权威期刊《Forest Policy and Economics》为例,选取其2007—2017年刊发的与中国林业经济问题相关的文献,从国际视角对中国林业经济问题进行梳理与总结。基于统计分析,刊发的文献总体呈现数量波动增长、内容多样化、合作形式国际化,研究区域具体化,定量分析为主等特点。从林产品贸易、森林资源经营管理、森林转型等主题展开对中国林业经济研究的论述,以期为我国相关学者全面把握中国林业经济前沿研究进展和发展趋势提供参考与借鉴。
文摘The Chinese economy has achieved remarkable development over the past 40 years of reform and opening-up.However,with the narrowing of potential for efficiency improvement from resources reallocation and changes in population age structure,the Chinese economy has moved from high-speed growth to high-quality development.In this setting,understanding factor endowment and comparative advantages of the economy from a perspective of human capital structure so as to enhance industrial structure adaptability by riding the trend is of significance for cultivating new driving force for economic development.This paper,following a theoretical paradigm of new structural economics,demonstrates how human capital structure matches industrial structure and the presence of optimal human capital structure using mathematical deduction.On this basis,national level panel data and instrumental variables are adopted for generalized method of moments,the results of which shows that there are varied impacts on economic growth in light of different human capital structure characteristics.The proportions of high-level human capital and medium-level human capital boost economic development,while that of low-level human capital has an inhibitory effect on economic growth.The policy implication of this study is that large economies should diversify efforts as per different human capital structure characteristics in terms of development need of tapping growth impetus from human capital structure improvement.It is of equal importance to raise the proportion of high and medium human capital in order to stimulate economic growth and to cut the proportion of low human capital that hinders economic development.
基金Under the auspices of Major Program of National Social Science Foundation of China (No. 10ZD&022)Youth Research Project of Ministry of Education (Humanities and Social Sciences) (No. 10YJC790020)Central University of Finance and Economics'121 Talent Project' Fundation for Youth Doctor Development (No. QBJGL201004)
文摘Based on the data of gross domestic product(GDP),industrial added value and the proportion of industrial employees from 2000 to 2008,this paper studies the effect of industrial structure change on the regional economic growth of Beijing-Tianjin-Hebei Metropolitan Region in China using the shift-share method.The results show that:1) In the 21st century,the industrial output of three industries,namely,primary,secondary,and tertiary,and the GDP grew rapidly in the study period.The tertiary industry grew the fastest;it had the largest contribution to the GDP and mean-while had become the most competitive industry in the metropolitan region.2) The development of cities within the region was not balanced.Firstly,compared with Tianjin,Beijing,as one of the two core cities,was more rational in the industrial structure.Secondly,the surrounding eight cities,which are Shijiazhuang,Qinhuangdao,Tangshan,Langfang,Baoding,Cangzhou,Zhangjiakou,and Chengde,were all uncompetitive than the two core cities.3) There was a great industrial gradient in the region(especially between the two core cities and the cities of Tangshan,Baoding,Zhangjia-kou,Chengde,Cangzhou,and Langfang).As a result,it is foreseeable that the industry transfer in the Bei-jing-Tianjin-Hebei Metropolitan Region will be one of the trends in regional development,and the industry transfer is inevitably to promote the regional integration.
文摘This study provides empirical evidence on the link between economic growth and nutrition transition in two emerging economies, China and Russia. Both countries have experienced rising average incomes, accompanied by an increasing rate of nutrition-related chronic diseases in recent years. Given the regional heterogeneity between these two countries, we analyze the extent to which income growth as a major driver of nutrition transition has a significant effect on the consumption of different food aggregates and how these effects differ between Chinese and Russian consumers. Our results indicate that with increasing household incomes over time the demand for carbohydrates decreases, while the demand for meat and dairy products, as well as fruits increases. This is a development generally known as nutrition transition. Further, we estimate a Quadratic Almost Ideal Demand System(QUAIDS) for nine different food aggregates for China and Russia. Our results indicate that in both countries all food aggregates have positive expenditure elasticities and are thus normal goods. Moreover, our results indicate that in 2008/2009 meat is still a luxury good in China yet a necessity good in Russia. For 2009, the highest own-price elasticities in China are found for non-meat protein sources and dairy products. Within the meat group, beef, poultry and mutton have the highest price elasticities in China. In Russia, the milk and dairy group, together with the vegetable group, is the most price-elastic food group in 2008. In line with the definition of a nutrition transition, our overall results underscore the finding that income growth in China and Russia tends to increase the demand for animal-based products much stronger than, for example, the demand for carbohydrates. Despite being a positive signal for problems of malnutrition in rural China, this trend of increasing meat consumption might further increase the incidence of chronic diseases in urban areas since there is convincing scientific evidence that increasing meat consumption, especially red and processed meat, is associated with an increased risk of chronic diseases.
文摘In the past decade,online Peer-to-Peer(P2P)lending platforms have transformed the lending industry,which has been historically dominated by commercial banks.Information technology breakthroughs such as big data-based financial technologies(Fintech)have been identified as important disruptive driving forces for this paradigm shift.In this paper,we take an information economics perspective to investigate how big data affects the transformation of the lending industry.By identifying how signaling and search costs are reduced by big data analytics for credit risk management of P2P lending,we discuss how information asymmetry is reduced in the big data era.Rooted in the lending business,we propose a theory on the economics of big data and outline a number of research opportunities and challenging issues.