Dynamic Matching,Two‐Sided Incomplete Information,and Participation Costs: Existence and Convergence to Perfect Competition

Consider a decentralized, dynamic market with an infinite horizon and participation costs in which both buyers and sellers have private information concerning their values for the indivisible traded good. Time is discrete, each period has length δ, and, each unit of time, continuums of new buyers and sellers consider entry. Traders whose expected utility is negative choose not to enter. Within a period each buyer is matched anonymously with a seller and each seller is matched with zero, one, or more buyers. Every seller runs a first price auction with a reservation price and, if trade occurs, both the seller and the winning buyer exit the market with their realized utility. Traders who fail to trade continue in the market to be rematched. We characterize the steady‐state equilibria that are perfect Bayesian. We show that, as δ converges to zero, equilibrium prices at which trades occur converge to the Walrasian price and the realized allocations converge to the competitive allocation. We also show the existence of equilibria for δ sufficiently small, provided the discount rate is small relative to the participation costs.     

As You Sow,So Shall You Reap?

Foundations’ capacity‐building grant programs strive to bolster performance and outcomes for their nonprofit grantees. Yet with few outcome evaluations of such programs, we have limited understanding of whether these capacity‐building efforts achieve their intended result. This study evaluates fifteen years of data for one foundation's capacity‐building grant program to understand whether targeted capacity building for financial management and development contributes to nonprofit financial growth. The authors examine the management–performance link in this context and inform sector leaders who dedicate resources to capacity‐building programs about the outcomes of these efforts.     

集体领导力理论基础探析

中西方国家在意识形态、政治体制、文化传统、社会格局等方面存在很大的差异,这些差异必然造成中西方企业领导理念的不同。改革开放后,中国学术界大量借鉴西方管理模式,却忽视了具有中国特色的、不同于西方管理学界流行概念的领导力模式——集体领导力。通过对集体领导力的理论基础进行分析探讨,在集体主义文化和团队有效性理论的基础上构建了集体领导力的理论模型,并与已有的相关领导力概念进行了分析对比。     

Moral Hazard in High Office and the Dynamics of Aristocracy

Both aristocratic privileges and constitutional constraints in traditional monarchies can be derived from a ruler's incentive to minimize expected costs of moral‐hazard rents for high officials. We consider a dynamic moral‐hazard model of governors serving a sovereign prince, who must deter them from rebellion and hidden corruption which could cause costly crises. To minimize costs, a governor's rewards for good performance should be deferred up to the maximal credit that the prince can be trusted to pay. In the long run, we find that high officials can become an entrenched aristocracy with low turnover and large claims on the ruler. Dismissals for bad performance should be randomized to avoid inciting rebellions, but the prince can profit from reselling vacant offices, and so his decisions to dismiss high officials require institutionalized monitoring. A soft budget constraint that forgives losses for low‐credit governors can become efficient when costs of corruption are low.     

中国资本市场建立的制度基础及其来自企业制度的约束

中国资本市场是在市场化—价值化改革的推进过程中建立起来的 ,有着自身特有的制度基础 :( 1 )企业投融资体制的改变 ;( 2 )国有企业的制度变革 ;( 3)居民投资意向的改变 ;( 4 )与经济发展相关联的因素 (需求推动、结构调整等 )。同时 ,国有企业股份制改革存在的一些制度性缺陷 ,如对国有企业的股份制改革以及企业发行股票 (包括上市发行 )的政府管制、对国有企业改制成股份公司后对其股权结构的政府管制、对公司治理结构的政府干预等 ,都给资本市场的发展带来了不利影响。     

论治安管理主体多元化的理论基础

传统观念认为,治安管理是统治阶级维护其统治秩序的重要手段,是国家政治权威在维护社会秩序工作中的体现,政府警察机构是承担这一职能的主体。然而,我国近年来和西方国家自上世纪70年代以来的治安管理实践表明,治安管理主体呈现多元化,其他社会治安组织与政府警察机构合作、互动,共同维护社会秩序,实现社会和谐。究其原因,不仅有其历史的必然性,而且政府失灵理论、治理理论也为其提供了坚实的理论基础。     

行政许可范围之研究

为了发现和洞悉行政许可范围问题的盲点和冲突点,以分析实证和社会实证为主要研究方法,论证了行政许可范围设立之逻辑起点、行政许可范围存在的问题及其解决,以从法制化层面合理地协调好我国行政相对人权益与国家、社会公益之间的利益关系,更好地促进我国社会整体利益的有序、稳定、健康增长。     

Challenges in Indigenous philanthropy: Reporting Australian grantmakers' perspectives

This article explores views of Australian grantmakers philanthropists who give to Indigenous causes. It reports on a qualitative study undertaken as part of the Giving Australia research to elicit if and how giving to Indigenous causes differs from philanthropy to other areas. This paper builds on the scant literature, particularly reporting exploratory research results on Australian grantmaking issues, critical funding needs, and recommendations for fostering Indigenous nonprofit funding. Indigenous groups are challenged in understanding how foundations work and, conversely, foundations do not always appreciate the need for their inputs to complement traditional cultures (EGA 2006). The study found that small grants can play a key role, as could enticing and supporting new grantmakers, co‐funding, engaging Indigenous representatives in the decision making, and dispelling misconceptions of the area.     

"清末子学兴起的思想背景与学术渊源"绪论

中国近代改良革新运动与民主革命思潮的形成经历了一个漫长过程,传统的先秦诸子学说在这一过程中的作用不容低估。不但清末子学兴起对思想界、学术界的影响应受到高度重视,而且子学兴起的思想背景、学术渊源诸问题也值得我们深入探讨。     

反垄断公益诉讼制度初探

传统诉讼法理论将原告资格限制在申诉人须与本案有直接利害关系,对于社会经济安全等社会公益,公民被认为不具有直接利害关系,其原告资格不被承认。反垄断公益诉讼制度的出现,既是诉讼法对其自身只顾及保护私人利益的狭隘性的突破,也是对传统诉讼法律制度的超越。本文对反垄断公益诉讼制度的特征、理论基础及我国建立反垄断公益诉讼制度的现实依据等问题进行探讨。