Leadership,information, and risk attitude: A game theoretic approach

This paper experimentally investigates how risk attitudes mitigate leadership effectiveness in a collective setting with projects that exhibit both free riding and coordination problems. We take two novel approaches: 1) the introduction of economic game theory to psychological studies of leadership, and 2) the application of the leadership ontology of Drath et al. (2008) as a cross-disciplinary integrative framework. Leadership here is focused on the presence or absence of direction, alignment, and commitment as well as antecedent beliefs and practices that are held within a collective (for us, our experimental participants). Our leadership context is stripped down to very minimal conditions: three group members, an investment decision, and the introduction of information regarding group members' attitudes toward risk. We find that the mere mention of risk attitude (whether risky or risk averse) undermines leadership effectiveness in mitigating free riding for our 420 experimental participants. Our study's primary implications lie in the application of game theory methodology to the psychological study of leadership, the introduction of relevant individual difference constructs to economic studies of leadership, and the advocation of the Drath et al. (2008) framework as a helpful integrative mechanism for interdisciplinary leadership research.     

知识经济对财务管理的影响

知识经济的兴起对财务管理带来诸多影响 ,要求对建立在传统经济基础之上的财务管理模式加以改革。要树立知识化理财观念、人本化理财观念、风险理财观念和信息理财观念等新观念 ;在财务管理的内容方面也将有新的调整 ,比如无形资产的内容将极大丰富 ,无形资产的计量将以产出价值为基础 ,风险管理将成为企业财务管理的一项重要内容 ,还要改变现行的财务评价指标体系等 ,以适应知识经济对财务管理的要求。     

Leadership and the effective choice of information regime

Economic research suggests that, in some circumstances, exogenously restricting the information leaders can provide to followers can overcome the free-riding problem and coordination failures, and improve efficiency in collective actions. The reason is that a leader’s information advantage can deprive followers of the information necessary for profitable defection. In this paper, we focus on situations where the decision to restrict access to information is an endogenous choice made by the leader. We experimentally investigate if leaders choose to strategically withhold information when appropriate to improve outcomes. To address this question, we adopt a single-shot collective action game in which a leader–follower setting with information advantage for the leader can potentially solve the free-riding problem and coordination failures. Our results suggest that leaders, in many circumstances, fail to utilize their information advantage to improve efficiency. This implies that groups may benefit if a nontransparent information regime is exogenously imposed on them.     

知识经济对我国外贸出口的影响及对策

知识经济的产生和发展 ,对我国的外贸出口产生了深远的影响 :它使我国的传统货物贸易环境恶化 ,对弱小的服务贸易产生冲击 ,从而推动贸易方式向无纸化贸易转化。为扭转我国出口创汇的不利局面 ,应从产生创造优势 ,对企业进行知识化改造 ,扶植中小企业 ,组建跨国集团公司 ,产、学、研相结合等方面促进我国的外贸出口。     

On Measuring Uncertainty of Benchmarked Predictors with Application to Disease Risk Estimate

Empirical Bayes (EB) estimates in general linear mixed models are useful for the small area estimation in the sense of increasing precision of estimation of small area means. However, one potential difficulty of EB is that the overall estimate for a larger geographical area based on a (weighted) sum of EB estimates is not necessarily identical to the corresponding direct estimate such as the overall sample mean. Another difficulty is that EB estimates yield over‐shrinking, which results in the sampling variance smaller than the posterior variance. One way to fix these problems is the benchmarking approach based on the constrained empirical Bayes (CEB) estimators, which satisfy the constraints that the aggregated mean and variance are identical to the requested values of mean and variance. In this paper, we treat the general mixed models, derive asymptotic approximations of the mean squared error (MSE) of CEB and provide second‐order unbiased estimators of MSE based on the parametric bootstrap method. These results are applied to natural exponential families with quadratic variance functions. As a specific example, the Poisson‐gamma model is dealt with, and it is illustrated that the CEB estimates and their MSE estimates work well through real mortality data.