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Article
The hierarchy of public governance: resource allocation versus bureaucratic inefficiency
Should a social program be run at a higher or lower level of government? We consider a government-run program supplying a private good to consumers. We focus on a tradeoff between the advantage of a high level...
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Article
Survival tactics for distressed firms in emerging markets
Understanding how firms cope with economic crises is of great importance, particularly in this period of rising interest rates coupled with a severe pandemic crisis. This study conducts an empirical analysis o...
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Article
Incomplete contracts with disparity, uncertainty, information and incentives
Cooperation among firms is governed by contracts. An interesting phenomenon is that some contracts are comprehensive while some are limited. This study tries to explain different levels of the incompleteness o...
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Article
Open AccessA novel time-dependent damage constitutive model for hard rock materials
The mechanical behavior of deep hard rocks plays a crucial role in the long-term safety and stability of engineering structures. This work focuses on studying the instantaneous and time-dependent fracture prop...
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Article
Spatial and temporal variation process of seabed dynamic response induced by the internal solitary wave
Internal solitary wave (ISW) is often accompanied by huge energy transport, which will change the pore water pressure in the seabed. Based on the two-dimensional Biot consolidation theory, the excess pore wate...
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Article
An enhanced constitutive model for quasi-brittle rocks with localized damage
Localized deformation is the failure precursor of quasi-brittle rocks. The objective herein is to propose an enhanced constitutive model incorporating the evolution of localized damage in quasi-brittle rocks. ...
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Article
A new constitutive model capturing brittle–ductile transition for crystalline marble
The objective of this work is to develop a new constitutive model based on a modified Mohr–Coulomb (M-C) criterion in order to reflect the brittle–ductile transition behavior of crystalline rock. The innovativ...
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Article
Experimental investigation of the mechanical properties of fine-grained sandstone in the triaxial cyclic loading test
Fine-grained sandstone is widely distributed in the **angjiaba Hydropower Station. To investigate the mechanical properties of the sandstone, a series of triaxial cyclic loading tests were conducted under the ...
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Article
Experimental analysis and modeling of the mechanical behavior of breccia lava in the dam foundation of the Baihetan Hydropower Project
As a type of pyroclastic rock, the breccia lava in the dam foundation of the Baihetan Hydropower Project is characterized by relatively low density, high natural moisture content and porosity, and lower ultras...
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Chapter and Conference Paper
Successful Experience in the Development of China’s Special Economic Zones—Case Study of the Reform of and Innovation in the Shenzhen Financial Industry
This chapter, based on the review of the 30 years’ development of the Shenzhen financial industry, mainly introduces the successful experience of the reform and innovation of that industry, analyzes and predi...
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Article
Mechanical behavior of fine-grained sandstone in triaxial compression and elastoplastic modeling by return map** algorithms
The study is devoted to the strength and deformation behavior of fine-grained sandstone. A series of triaxial compression tests were conducted on rock samples under various confining pressures (3, 5, 10, 15, a...
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Chapter
Micro-foundation of Finance
In this chapter, we look at financial markets. With complete and perfect markets, the models in this chapter are within the Arrow-Debreu world.
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Chapter
Imperfect Information Games
In the last chapter, we saw that game theory is a powerful tool in dealing with the economic problems, especially when there are a small number of economic agents with conflicts of interest. Besides the issue ...
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Chapter
Cooperative Games
For a group of players, it is possible that they cooperate in some way to improve their individual welfare. They may find a need for cooperation on a common objective, but they may bargain over the sharing of ...
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Chapter
Consumer Theory
There are two distinct approaches to modeling individual behaviors. The first approach starts with preferences and proceeds to rationalizing the preferences and then showing the existence of a utility represen...
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Chapter
Market Information
Observed market failures and inefficiencies such as those in medical insurance and unemployment insurance are well known. Possible causes include incomplete information, incomplete markets, and incentives. Thi...
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Chapter
General Equilibrium Theory
This chapter deals with three subjects: general equilibrium, Pareto optimality, and welfare properties. Previous chapters assume exogenous prices, that is, consumers and producers take prices as given and choo...
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Chapter
Incentive Contracts
Besides asymmetric information, there is another type of information problem, called the . For example, in an employer-employee relationship, the employee’s applied effort may be observable by his employer bu...
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Chapter
Micro-foundation of Industry
This chapter introduces the standard equilibrium theory of industry. We focus mainly on the output market and later cover briefly the input market.
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Chapter
Incomplete Information Games
The focus of this chapter is on games of incomplete information, including games of complete information as a special case. We will present several popular equilibrium concepts.
