Beyond Equations:The Challenge of Mathematical Rigor in Economics

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.

Critical Analysis of Increasingly Mathematical Economics in the Modern Society

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.

The Intersection of Privacy by Design and Behavioral Economics: Nudging Users towards Privacy-Friendly Choices

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.

Research on the Construction of Intellectual Property System and Optimization of Business Environment in China

With the rapid development of globalization and information technology,intellectual property has been one of the key drivers of economic growth,and the construction of intellectual property system has become an important criterion for measuring the quality of business environment.This article is intended to explore the current status of intellectual property system construction in China,the challenges,and its relationship with the business environment,to propose the corresponding countermeasures and suggestions.The study finds that the legal system of intellectual property in China is gradually improving,and judicial and administrative protection are continuously strengthened.However,the challenges still remain such as frequent infringements,rights hard to protect and insufficient international cooperation.These issues not only affect the legitimate rights and interests of innovation entities,but also for the market fairness and the level of the business environment.Therefore,this article proposes that strengthening the perfection of the intellectual property legal system,enhancing intellectual property services and support capabilities,strengthening international cooperation and exchanges,and accelerating the cultivation of composite talents.It aims to provide theoretical references for the construction of intellectual property system and the optimization of the business environment,promote the high-quality development of economy and enhance the global competitiveness of the country.

Research on the Optimization Paths for Outstanding Agricultural Economics and Management Talents under the Background of Curriculum Ideology and Politics

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.

Simulation Modelling and Techno-Economics of Supercritical Carbon Dioxide Recompression Closed Brayton Cycle

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.

Economics of Language behind Catchwords

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.

On College English Reform from the Perspective of Language Economics

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.

Human Capital Structure and Economic Growth:From the Perspective of New Structural Economics

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.

How signaling and search costs affect information asymmetry in P2P lending:the economics of big data

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.

基于CiteSpace V的国际产业经济研究的可视化分析——以Journal of Industrial Economics为例

本文运用科学计量学中的可视化技术,以Web of Science^TM核心合集数据库中收录的2002-2016年发表于Journal of Industrial Economics中的385篇论文为数据基础.首先运用CiteSpace V结合GoogleEarth软件和Google Fusion Table平台进行地域分布和合作分析,并用CiteSpace V绘制国家合作网络,发现美国与其他国家合作次数最多.然后进行了期刊双图叠加分析和期刊共被引的具体分析,以发现学科领域期刊之间的引用关系和期刊的具体共被引情况.最后进行了文献共被引分析,以发现研究的知识基础,并且研究了该期刊文章自2013年和最近180天的使用情况,为相关学者以后的研究提供参考和借鉴.

Economics of the plant species used in homestead agroforestry on an offshore Sandwip Island of Chittagong District, Bangladesh

This study was performed in five villages of Sandwip Upazila, Chittagong district with a view to identify the tree resources, utilization pattern and economic return of major fruit and timber tree species. Information collected from a total of 60 households ranging from marginal, small, medium and large categories. Number of plant species increased with the increase of homestead area. A total of 33 plant species were recorded from the homegarden, of which 19 were fruit and 14 were timber tree species. Considerable number of vegetables was also planted under the shade of the homestead trees. The investment analysis showed that average benefit-cost ratios were greater than one, net present values were positive and internal rate of returns were more than 10%. Long term investment on horticulture and timber tree species is highly profitable if species like Artocarpus heterophyllus, Cocos nucifera, Tectona grandis and Swietenia macrophylla are planted.

Research on the Impact of Rural Labour Forces Transfer on the Urban-rural Income Based on Economics of Discrimination

On the basis of the analytical frame of discrimination, the thesis establishes a model of transfer of rural labour forces into city, and researches the impact of rural labour forces transfer on urban-rural income. The results show that the transfer of rural labour forces into city can increase urban-rural income and bridge the income gap between city and village to a certain extent. However, the capital stock of city in China is greatly more than that of the village, so the rural labour forces transfer cannot eliminate the urban-rural income gap completely. In order to elevate the rural income level in China and narrow urban-rural income gap, the government should paint a picture with two brushes at the same time: on one hand, the government should promote the transfer of rural labour forces into city, and change the status quo of dual urban-rural labour forces market structure; on the other hand, the government should increase the input in rural areas and promote the increase of rural capital stock so as to further increase rural residents' income in the process of labour forces transfer.

Analysis on Peasants' Diet Condition and Food Safety Awareness in Northern Jiangsu——From the Perspective of Economics

Taking three counties in northern Jiangsu (Suining,Ganyu and Sihong) as the respondents,the economic principles of food safety issues of rural areas in northern Jiangsu are described from three aspects which are information asymmetry,food supply and food safety issue and food consumption and food safety issue.From the two aspects-adverse selection of consumers and opportunistic behavior of producers,the paper introduces the influence of food safety issues of rural areas in northern Jiangsu.Based on the above analysis,economic theories for solving food safety issues of rural areas in northern Jiangsu are put forward:First,improve consumers' knowledge of food safety;Second,normalize the behavior of main bodies of production and management;Third,improve the current situation of information asymmetry of food safety;Fourth,accelerate economic construction of rural areas in northern Jiangsu,practically increase peasant income and living standard.

21世纪以来国内及国际教育经济学研究的热点与前沿问题--基于《教育与经济》与Economics of Education Review的知识图谱分析

运用Cite Space V软件对2001-2015年CNKI、Web of Science数据库中的国内和国际教育经济学专业期刊《教育与经济》与Economics of Education Review的文献进行可视化分析,获得如下主要研究结论:(1)21世纪以来国内教育经济学研究热点随着时间段的推移,趋于分散与多元。"十五"教育发展规划期间的研究热点为"加入WTO"、"税费改革"背景下的义务教育和高等教育事业发展问题;"十一五"期间的研究热点为高校人才培养与农村义务教育、教育公平等问题;"十二五"期间研究热点更加多元,涉及中等职业教育、普通高中教育、学前教育等领域教育财政投入问题以及高校毕业生就业、过度教育、性别差异及歧视等问题。国际教育经济学研究热点在2001-2015年期间呈收缩状态,变化较小。人力资本、高等教育、教育效率、学生学业成绩始终是国际教育经济学研究热点;(2)2001-2015年间,国内教育经济学研究前沿问题包括产权理论的应用以及农村义务教育问题,而国际教育经济学研究前沿集中于学生学业成绩及其影响因素问题,教育需求、教育与经济发展的关系、薪酬问题也是这一时期国际教育经济学的研究前沿。

Evaluation of gas production from multiple coal seams： A simulation study and economics

Gas production from multiple coal seams has become common practice in many coal basins around the world. Although gas production rates are typically enhanced, the economic viability of such practice is not well studied. In order to investigate the technical and economic feasibility of multiple coal seams production, reservoir simulation integrated with economics modelling was performed to study the effect of important reservoir properties of the secondary coal seam on production and economic performance using both vertical and horizontal wells. The results demonstrated that multiple seam gas production of using both vertical and horizontal wells have competitive advantage over single layer production under most scenarios. Gas content and permeability of the secondary coal seam are the most important reservoir properties that have impact on the economic feasibility of multiple seam gas production. The comparison of vertical well and horizontal well performance showed that horizontal well is more economically attractive for both single well and gas field. Moreover, wellhead price is the most sensitive to the economic performance, followed by operating costs and government subsidy. Although the results of reservoir simulation combined with economic analysis are subject to assumptions, multiple seam gas production is more likely to maintain profitability compared with single layer production.

Effect of Biofertilizer on Growth, Productivity, Quality and Economics of Rainfed Organic Ginger （Zingiber officinale Rosc.） Bhaisey cv. in North-Eastern Region of India

Ginger yields in the NorthEastern region of India are low because the extremely poor farmers of the region can not afford to apply any chemical fertilizers and hence apply only the locally-available farmyard manures to ginger fields. Biofertilizers may be a cheap source of fertilizers for ginger cultivation as they can increase nutrient availability and improve rhizome quality and are required in small quantity. An investigation was thus undertaken to study the effect of different biofenilizers on growth, productivity, quality and economics of organic ginger grown under rainfed condition in NorthEastern region of India. Seed treatment with biofertilizers enhanced growth, increased rhizome yield by 19.0% and resulted in 32.4% higher net profit over control. Among the seed treatments, Azotobacter 5.0 kg ha＂l, Azospirillum 3.75 kg hal and Phosphotica 3.75 kg ha-1 were found optimum in improving most of the growth attributes, increasing yield components and yield of rhizome by 5.6%-13.5%. They also improved rhizome quality by increasing specific gravity, oleoresin and dry matter content and by decreasing crude fibre in rhizome. They resulted in higher net return by 4.0%-12.0% as compared to their other levels. Combined use of Azotobacter 5.0 kg hal along with Phosphotica 3.75 kg ha＂l was found to be the best treatment combination which greatly improved growth and yield attributes of ginger and ultimately recorded markedly higher productivity （2.0%-23.5%） over other combinations. This treatment combination improved the quality of the produce and resulted in the highest gross return （$4,905 hal）, net return （$3,525 hal） and return per dollar （3.55） invested in ginger cultivation. It appears that growing organic ginger by treating the seed rhizome with Azotobacter 5.0 kg ha-~ along with Phosphotica 3.75 kg ha-1 can result in good growth and high productivity of improved quality rhizome and ultimately result in maximum net profit and thus can be recommended for the NorthEastern region of India.

A generic analysis of English Research Article abstracts and the use of modal verbs for financial economics

This paper is a generic study of schematic structures and the use of modal verbs of 50 English Research Article （RA） abstracts. With Bhatia＇s （1990） model as the framework, three other move patterns were obtained besides the normal move order. The density of modal verbs varies greatly from move to move with significant differences in the frequency of occurrence in different moves. The use of modal verbs is much more move-determined than discipline-determined.

Learning,Mutation and the Economics of Convention:A Selected Review of Evolutionary Game Theory

Before the present of basic model,one example is given in section 2 to illustrate the economic intuition behind the SSE. The general model,including the three hypotheses,adaptive play setting and basic results is laid out in section 3. Sections 4 study the asymptotic behavior of this model. This review concludes with a comment.

The Enlightenment of American Home Economics Education to the Reform of Chinese Education

Home economics education provides students with essential knowledge and skills for managing the challenges of living and working in a diverse, global society. Starting with the exploration of the background and history of American HEE development, some parts of the detailed information of American HEE education and enlightenment to the reform of Chinese education and hope it could be useful for Chinese education.