Research on Asymmetric Information Problem in Housing Market

Housing market is not similar to other markets, it is difficult for non-professional people to know the quality of the house in a short time. So the asymmetric information situation between the purchaser and the seller exists during the exchange process. The result is that bad quality houses wash out good ones. In this paper, a detailed analysis is given to the phenomenon and some ways are put forward to avoid the appearance of this problem.     

Analysis of Adverse Selection in the Credit Market and the Impact of Mortgage Means

From the impact of mortgage loan on the degreeof investment risk and the expected profit of bank,the authors draw the conclusion that the risk of mortgage loan is larger than the risk of credit loan when the gage is not enough by comparing mortgage loan with credit loan. And they also analyse the relation of the gage, loan rate, and adverse selection. The gage and loan rate are presented which can be use as themeans of examining information for the bank.     

Game of Hospital-tient Relationship Under Asymmetric Information

The hospital and patient are in the state of asymmetric information in the medical market, which could lead to moral hazard, adverse selection, and low market efficiency. By the game model, we analyze the game process and equilibrium between the hospital and patient under the condition of asymmetric information. The analyzing result suggest that asymmetric information in the medical market is harmful to the patient's benefit and the development of the medical market. Therefore, it's necessary to set up medical information opening system and strengthen the communication between the hospital and the patient so as to relieve the asymmetric information between hospital and patient.     

Main Factor Analysis on the Sustainable Growth of the Public Companies in China

With the sample of Chinese A-stock public companies which appear on Stock Exchange of Shanghai and Shenzhen before 1994,and by using the factor method and regression,this paper finds out and explains the equilibrium relation among sustainable growth of Chinese public companies,profitability and capability of debt-repayment and capability of operation. This paper discover: (1)The sustainable growth rate of a public company is in inverse proportion to asset-debt ratio, but in direct proportion to current debt ratio as well as acid test ration. (2)There is a positive correlation between the sustainable growth rate of a public company and its profitability. That's to say, the higher earning rate, the higher sustainable growth rate.(3)The sustainable growth rate of all public firms other than those of the commerce industry is positively correlated to the growth capacity.(4)Apart from the commerce industry, there is a positive correlation between the sustainable growth and the operation capability of the public companies, regardless of their integral sample, industries sample and scale sample.     

Analysis on Developing Credibility Mechanism in Tourism Market

Credibility mechanism is the corn stone to ensure the transaction in the market economy. By the one-time game and repeated game models, the article explains that the message can be easily spread, and the bad businessman can be punished, and in the repeated games, credibility mechanism can develop. But the characteristics of the tourism market cause more difficulty in developing credibility in it. According to the problem, the authors make some suggestions on it.     

技术—环境贸易壁垒对中国农产品出口影响的局部均衡分析

首先分析了技术-环境贸易壁垒的定义和特征,描述了中国农产品遭受到的技术-环境贸易壁垒,然后通过采用局部均衡分析的方法来分析技术-环境贸易壁垒对中国农产品出口的影响,结果表明：技术-环境贸易壁垒会使中国的社会福利减少,同时能够产生较高的遵循成本,该遵循成本在出口国的生产者和进口国的消费者这件进行分摊。最后通过这种分析指出企业在遭受技术-环境贸易壁垒时应根据不同的情况以做出相应的决策。     

An Analysis of Principal-Agent of Game under the Asymmetric Information in Venture Capital

The relationship of investors and venture capitalists is an important part in venture capital. Based on asymmetric information, this paper analyzes the principal agent relationship between investors and venture capitalists with game theory. And this paper mainly discusses the choosing, controlling and incentive problem. It suggests that only the capable and self confident venture capitalists could accept the terms of the limited partnership. It also indicates that recompense mechanism which holds the interest of investors and that of venture capitalists tightly is the center of the limited partnership. Rate of yield is the key of recompense mechanism, it not only reflects the incentive on venture capitalists, also reflects the share of risk between investors and venture capitalists. At last, the market credit play an important role in venture capital.     

滑准税对中国棉花市场影响的实证分析

摘 要：现行滑准税政策是我国加入WTO后棉花贸易政策的重要组成部分。本文首先回顾了国内有关专家学者就滑准税政策的研究结论,在此基础上就滑准税对棉价波动及进口量波动的影响、滑准税对国内棉花市场价格的影响以及滑准税对纺织业的影响进行了实证研究。最后,对现行滑准税改革提出政策建议。     

Analysis on Optimal Service Frequency of Public Transport Considered with Generalised Cost

The service frequency is an important factor which shows the supply and service level of public transportion. By considering the effect of occupancy rate on generalised cost firstly, the authors establish a new public transport model based on generalised cost. Then from the view of optimal pricing, this paper constructs two optimal service frequency models by the aim of maximizing social welfare and maximizing profit separately. The result shows that, without the effect of externalities, the two optimal service frequency is the same. Finally, this paper use some parameters of generalised cost, which coming from a city, to simulate this model, and the result shows it is feasible.     

Analysis of Management Performance between Owner and Supervisor under Asymmetric Information

The situation of asymmetric information makes a certain benefit conflict between owner and supervisor in the case of project supervision, and the owner undertakes the loss risk caused by information asymmetry. This paper has analyzed the management performance of the owner to the supervisor during the project supervision entrusting by a model.     

北京市鸡蛋及其相关行业市场分析及展望

为了确定北京市鸡蛋价格波动规律及其影响因素,本研究采用指标分析、变异系数、季节调整模型以及HP滤波等方法,结合鸡蛋生产、商品代蛋雏鸡、饲料市场等鸡蛋相关行业市场情况,对北京市鸡蛋批发市场行情进行了分析。结果表明：2002—2012年,北京市批发市场鸡蛋月度价格呈上升趋势,振幅呈阶段性放大特征,大致经历了三个完整的波动周期,每个周期持续时间为37个月,年度内鸡蛋价格呈“一峰一谷”型,高价区集中在7—12月;年度内上市量与鸡蛋价格呈反向关系。玉米、蛋鸡配合饲料以及商品代蛋雏鸡等主要养殖成本增加是鸡蛋价格上升的重要原因之一。因此,应加强监测预警、建立鸡蛋价格保险制度、发展鸡蛋期货,以稳定鸡蛋价格、减少生产经营损失。     

Analysis of Financing of LBO by Game Theory

Based on introducing the concept of Leveraged Buy-outs (LBO) briefly, in this paper, the basic characters of LBO are analyzed. The choice of payoff function and game process in financing game of LBO for both sides by asymmetric information dynamic game model are analyzed as well. Finally, the game equilibrium is gained and the means of some relative policies are discussed.     

农产品市场“柠檬”问题的解决——一个基于食品质量安全视角的文献综述

摘要：“柠檬”问题的存在会导致了农产品市场调节机制的失灵。为促进农产品市场均衡从低效率状态转化为高效率状态,必须解决农产品市场中普遍存在的“柠檬”问题。本文围绕农产品市场“柠檬”问题的解决,对国内外相关的研究文献进行了系统地梳理,并展望了该领域的研究前景。     

农业市场信息传播主体选择和影响因素分析

在当前我国农业信息化建设中,如何解决信息的供给者与需求者之间的信息传播问题是关键。本文从农户的视角来探析农业市场信息传播主体的需求状况,并用最优尺度回归方法分析影响农户期望选择的原因。研究发现当前农业市场信息传播以非正式传播主体为主,但农户满意度评价却较低,组织化传播主体较少但农户评价较高,农户期望选择更多的是政府服务部门和科技部门等正式组织。研究发现农户背景特征中年龄、区域分布、务农年限是农户期望选择的前三大显著性影响因素,而不同主体传播特征中政策优惠、价格合理和服务及时是影响农户选择变化的最重要的三个因素,并相应地提出了有关政策建议。     

Empirical Study on the Sustainable Growth of the Public Companies in China

The sustainable growth is the corporation's final object to the maximum of the stock-holder's wealth. To validate the development of the Chinese public companies after Dengxiaoping's Nanxun speech ,this paper tests the sustainable growth status of the Chinese public companies during the period from 1993 to 2000 by using mathematical statistics method and sustainable growth model brought forward by Robert Higgins and James Van Herne. These companies are classified by trade. The test results show that no trade realized sustainable growth except electronic and electric trade. Results also indicate that public companies in light industry and agricultural sectors have a trend of under-investment while those in other sectors have a trend of over investment.     

Analysis of Incentive and Supervisory Control for Project Supervision under Asymmetric Information

Under the asymmetric information,the owner undertakes moral risk,which is caused by supervisor in the case of project supervision.This paper analyzes the benefit conflict while entrusting because of asymmetric information,discusses how to bring incentive and supervisory control mechanism into project supervision entrust-contract by mathematics model.Then,the design and improvement of the supervision reward in contract are discussed.     

Transaction Cost During Reform Process of Separation ofNetwork Operations and Generation, and Making Electric Generation Market Competitive in Power Market

This paper analyzes interior transaction cost before the reform of separation of network operations and generation, and making electric generation market competitive in power industry, and market transaction cost in complete power market with the theory of transaction cost in china on the basis of the actuality and characteristic of Chinese power industry,then the describtion and the scalar comparisim are done between two costs by curve and mathematics. Based on the economic theory,the authors analyze the compare result,and come out the economic term of separation of network operations and generation in power industry, that is to say that there isn't economic reason when the electric plant lies in the phase of scale reward increasing by degrees,on contrast,when the electric plant lies in the phase of scale reward decreasing by degrees,the reform should be done step by step.     

Existence of an Arbitrage about Portfolio in an Unequilibrium Market

This article has discussed the problem of an arbitrage about an portfolio in an unequilimarket and got a determinable theorem about existence of an arbitrage about an portfolio. According to this theorem,an arbitrage about portfolio is not existing if there exists a respect martignal measure.A structural result about existence of arbitrage about an portfolio in a market is gotten. All results represent the existence of an arbitrage about an portfolio is related closely to the type of market.     

人民币汇率升值对中国粮食安全影响的一般均衡金融模型分析

通过构建一般均衡金融模型,分析了汇率变化对中国粮食安全的影响。模拟结果显示,现有中国经济增长条件下,人民币升值5%、10%、20%,对中国经济增长产生了较为持久的负面影响。与工业部门一样,人民币升值对农业部门也产生了产出、就业、投资及产出价格下降的严重影响,这种影响关系到农产品生产和供给,与中国的粮食安全息息相关,自2005年以来,人民币实际升值22%,过去的几年中,除粮食生产外,中国农产品生产遭受诸多价格风险,理论上,隐藏在农产品价格风险背后的因素,人民币升值有一定的作用。所以,人民币升值进程中,必须密切关注中国的农产品生产特别是粮食生产的安全。     

Dynamic Management of Engineering Cost Based on Internet in Construction Company

According to the need of engineering cost management reform and with the development of computer technology, application of Internet and establishment of national and local engineering cost information system, the construction company should have their engineering cost information system. Especially, there should be the dynamic information system for dynamic management of engineering cost to promote the reform of engineering cost management and satisfy the need of company development.