...Financial Supervision of Third-party Payment Based on Evolutionary Game Zhenyuan Zhu School of Management Tianjin University, Tianjin, 300072, China j_j8797@yahoo.com.cn Abstract: Under the assumption of low rationality, this paper establishes the Evolutionary Game model between the supervision departments of third-party payment and operators of third-party payment platform, studying the replicator dynamics equations and the procedure of dynamic evolutionary. Also it draws the conclusion that there is no evolutionary stable strategy based on the analysis of Jacobian Matrix. Furthermore, this paper gives strategies concerning both colonies to regulate the third-party payment market. Keywords: evolutionary game, third-party payment, financial supervision I. INTRODUCTION With the web technology and E-commerce thriving across the mainland, the expanding speed of Chinese third-party payment market (hereafter be shorted as “the Market”) has accelerated to a striking level. According to the Report on Development State of Chinese Online Payment Industry 2010-2011 conducted by www.iresearch.cn, the Market’s trading scale has raised to 353.7 billion RMB during the fourth quarter of 2010, increasing 129.4% year-on-year and 32.6% period-on-period. [1] Meanwhile the governmental supervision of third-party payment platform (hereafter be shorted as “the Platform”) remains vacant, leaving a risk of misappropriation with the numerous amount of sedimentary money preserved by the...
Words: 2591 - Pages: 11
... | |E-mail addresses |kevin.dow@nottingham.edu.cn | | |cass.lai@nottingham.edu.cn | |Office Hours |Dr. Kevin Dow: Th, 2:00 pm - 4:00 pm, every Thursday until Exams (except December 11 and 25) | | |Cass Lai: Th, 2:00 pm - 4:00 pm | KEY POINTS • This is a Level 3, 10 credit module; • Assessment basis: a one and a half hour Examination (100%); • Keywords: Audit; Governance; Corporate Scandals; Audit Theory and Practice; Accountability; • Pre-requisite module: P12307 Financial Reporting. MODULE AIMS To use a mix of textual and case-based material to examine the role of the audit as a means of ensuring accountability in organisations and society, and hence develop knowledge of the purpose, structure and limitations of the audit process. To critically evaluate the role of related functions within overall governance structures. LEARNING OBJECTIVES AND OUTCOMES Knowledge and understanding This module develops a...
Words: 1810 - Pages: 8
...Sociology 100 – Key theorists Bauman, Zygmunt (1925– ) A Polish-born sociologist who was expelled by the Communist government of Poland and dismissed from Warsaw University. He left Poland in 1968, working in Israel (and briefly in Australia) and then in Britain, at Leeds University. Bauman is a prolific and highly influential writer whose work extends beyond academic sociology. His study of contemporary ‘liquid’ society and postmodernity, and the ethical and moral consequences of living in such a society, have made him one of the most influential social theorists of modern times. Liquid society – postmodernity, ethics and moral consequences. Bourdieu, Pierre (1930–2002) A French sociologist and anthropologist whose work attempted to deal with how people contribute to their own domination. Developing the concepts of ‘habitus’, ‘cultural capital’, and ‘field’, Bourdieu examined processes of subordination and resistance in a number of areas of social life, including education, art, literature, language, television, and the globalised economy. Bourdieu’s most famous book is Distinction: A Social Critique of the Judgement of Taste (1984). Globalised economy, subordination and resistance in social life. ‘Culture capital’ Burke, Edmund (1729–97) An English politician and writer, often seen as the father of modern conservatism for his hostile reaction to the chaos and violence of the French Revolution. For many, his defence of tradition and individual liberty is...
Words: 2010 - Pages: 9
...The Florida State University DigiNole Commons Electronic Theses, Treatises and Dissertations The Graduate School 2-5-2009 The Social Impact of Corporate Social Responsibility: A Case Study Brooke Ellen Forester Florida State University Follow this and additional works at: http://diginole.lib.fsu.edu/etd Recommended Citation Forester, Brooke Ellen, "The Social Impact of Corporate Social Responsibility: A Case Study" (2009). Electronic Theses, Treatises and Dissertations. Paper 4418. This Dissertation - Open Access is brought to you for free and open access by the The Graduate School at DigiNole Commons. It has been accepted for inclusion in Electronic Theses, Treatises and Dissertations by an authorized administrator of DigiNole Commons. For more information, please contact lib-ir@fsu.edu. FLORIDA STATE UNIVERSITY COLLEGE OF EDUCATION THE SOCIAL IMPACT OF CORPORATE SOCIAL RESPONSIBILITY: A CASE STUDY By BROOKE E. FORESTER A Dissertation submitted to the Department of Sport Management, Recreation Management, and Physical Education in partial fulfillment of the requirements for the degree of Doctor of Philosophy Degree Awarded: Spring Semester, 2009 i The members of the Committee approved the Dissertation of Brooke Ellen Forester defended on February 5, 2009. ________________________ Michael Mondello Professor Co-Directing Dissertation ________________________ R. Aubrey Kent Professor Co-Directing Dissertation ________________________ Robert Brymer Outside Committee...
Words: 62361 - Pages: 250
...The Digital World The digital world of today can be understood as a product of late-Victorian construction of the machinery of information organization combined with Modernist visual forms. In his doctoral dissertation, The Engineering of Vision from Constructivism to Computers, Lev Manovich, professor of New Media at the University of San Diego, states it is the influence of Modernist visual forms, mainly Soviet era Constructivism, that shapes the look of the current digital world (e.g. the Internet). Professor Simon Cook of Duke University, in his recent paper, Late Victorian Visual Reasoning and a Modern History of Vision, argues that Manovich overlooks the importance of the Victorian period in influencing the aesthetics of our present digital design. Cook bases his argument on the concept of an orderly and well-catalogued Internet, as if the system had been developed in nineteenth century Britain. However, due to the chaotic, disorganized and ever-changing look of the digital world, the argument of a Victorian based system is flawed. The late nineteenth century does not have the impact Cook believes it does, whereas Manovich remains on track in his original argument. Still, Manovich’s ideas can only be regarded on a temporary basis, because the face of the digital world has changed drastically since its development, and will continue to in the near future. Before exploring the look of the current digital world, it is first important to look at its physical development...
Words: 2335 - Pages: 10
...143–170 (2007) ARTICLE Econo-physics: A Perspective of Matching Two Sciences Yuri YEGOROV Institute for Advanced Studies, Stumpergasse 56, A-1060, Vienna, Austria, and University of Vienna, Department of Industry and Energy, Brünner Strasse, 72, A-1210, Vienna, Austria. E-mail: yegorov@ihs.ac.at Abstract The present article marks some potentially fruitful dimensions of economic research based on principles of economic theory but using more analogies with physics. Molecular structure of society with its different states, principles generating spontaneous order different from “invisible hand”, social analogies of the concepts of temperature and pressure in physics are investigated. Some analogies between phase transitions in physics and transition between different social regimes can reveal the areas of stability of liberal regimes as well as possibility of spontaneous emergence of different social orders. A possibility to expand neoclassical economics to capture Marxism and nationalism in a formal mathematical framework is also discussed. Keywords: economic structures, origin of order, econo-physics, socio-physics. 1. Introduction This article is methodological. It focuses on economic and social questions that are rarely touched by economic theorists despite their obvious importance for our understanding of economic processes in the world. No fully formalized model will be proposed here. Instead, the focus will be on interaction between economic elements and emergence...
Words: 11187 - Pages: 45
...St, Canberra, ACT, Australia Received 1 December 1998; received in revised form 8 July 1999; accepted 14 July 1999 Abstract The Project Management Institute's Guide to the Project Management Body of Knowledge (PMBOK) underpins many initiatives to improve project management practice. It is widely used for training and underpins the development of competency standards. Because of its fundamental importance, the PMBOK should be critically reviewed. This paper agues for an expansion of the PMBOK Guide's risk management knowledge area to include a wider perspective of incomplete knowledge. The PMBOK Guide deals with uncertainty through the traditional use of probability theory, however the underpinning assumptions of probability theory do not always apply in practice. Furthermore, probability-based risk management theory does not explain important aspects of observed project management practice. This paper discusses an expanded framework of incomplete knowledge, including: an expanded concept of uncertainty that acknowledges ignorance or surprise, where there is no prior knowledge of future states; imprecision arising from ambiguity (fuzziness) in project parameters and future states; and, human limitations in information processing. The paper shows the expanded framework explains observed project-management practice more thoroughly than the probability-based framework. The conclusion reached is that ``management of incomplete knowledge'' provides a better theoretical foundation for...
Words: 5801 - Pages: 24
...probability_________________________ 6 2.3 Calculating the probability of birthday problem___________ 7 2.4 Abstract proof______________________________________10 3 Examples______________________________________________11 4 References_____________________________________________13 2 Abstract The subject of probability can be traced back to the 17th century when it arose out of the study of gambling games. As we see, the range of applications extends beyond games into business decisions, insurance, law, medical tests, and the social sciences. The stock market, “the largest casino in the world,” cannot do without it. The telephone network, call centers, and airline companies with their randomly fluctuating loads could not have been economically designed without probability theory. To quote Pierre-Simon, marquis de Laplace from several hundred years ago: «It is remarkable that this science, which originated in the consideration of games of chance, should become the most important object of human knowledge...The most important questions of life are, for the most part, really only problems of probability.» Keywords: experiment; outcomes; empty set; union; intersection; probability; birthday problem. 3 1. Basis of probability 1.1 Conditional Probability Conditional Probability is...
Words: 2471 - Pages: 10
...spiritual methods in counseling as well as help the professional deal with on-Christian counselees. This manuscript provides a synopsis of the history of the Gestalt experiential family therapy framework, the leading figures, and in conclusion an overview of how a personal worldview interacts with the Gestalt theory. keywords: Gestalt, integration, experiential family therapy, worldview Family Counseling Approach Research Gestalt Family Therapy Introduction The experiential model or experiential approach to family therapy has many innovators. The symbolic experiential approach pioneered by Carl Whitaker highlights how the therapist provides counselees different ways to accept and deal with issues (Goldenberg and Goldenberg, 2013). Satir (1967) emphasizes the importance of communication in conjoint family therapy. For Whitaker, the symbolic experiential model is a multigenerational approach used in therapy to address both individual and family relational patterns (Goldenberg & Goldenberg, 2013). The Gestalt experiential approach, leading figure Walter Kempler (1981) reaches to help people go beyond their customary “self deceptive games,...
Words: 3103 - Pages: 13
...who will adopt electric vehicles? a segmentation approach of UK consumers Dr Jillian anable The Centre for Transport Research University of aberdeen St Mary’s, Elphinstone Road aberdeen, UK, ab24 3Uf j.anable@abdn.ac.uk Dr geertje Schuitema Department of Marketing and Statistics aarhus University haslegaardsvej 10 DK-8210 aarhus V, Denmark g.Schuitema@asb.dk Dr Stephen Skippon Shell global Solutions Shell Technology Centre Thornton P.o. box 1 Chester, UK, Ch1 3Sh steve.skippon@shell.com Dr neale Kinnear Transport Research laboratory Crowthorne house, nine Mile Ride wokingham, UK, Rg40 3ga nkinnear@trl.co.uk Keywords electric vehicles, consumer preferences, segmentation two-wave design was aimed at reducing psychological distance, supporting information transfer into long-term memory, and facilitating non-conscious processing, thus better representing consumer choice processes. Applying cluster analysis to the various attitudinal measures, participants are segmented according to their pro-social and technology-oriented inclinations and some conclusions as to the characteristics of EV consumers are presented. Abstract Climate change programmes around the globe are relying heavily on the electrification of transport, especially private battery electric vehicles and plug-in hybrids (‘EVs’). These are novel technologies of which mainstream consumers have very little experience and knowledge, so they are psychologically distant from the category. This presents...
Words: 6031 - Pages: 25
...Chapter 18 A SURVEY OF BEHAVIORAL FINANCE ° NICHOLAS BARBERIS University of Chicago RICHARD THALER University of Chicago Contents Abstract Keywords 1. Introduction 2. Limits to arbitrage 2.1. Market efficiency 2.2. Theory 2.3. Evidence 2.3.1. Twin shares 2.3.2. Index inclusions 2.3.3. Internet carve-outs 3. Psychology 3.1. Beliefs 3.2. Preferences 3.2.1. Prospect theory 3.2.2. Ambiguity aversion 4. Application: The aggregate stock market 4.1. The equity premium puzzle 4.1.1. Prospect theory 4.1.2. Ambiguity aversion 4.2. The volatility puzzle 4.2.1. Beliefs 4.2.2. Preferences 5. Application: The cross-section of average returns 5.1. Belief-based models 1054 1054 1055 1056 1056 1058 1061 1061 1063 1064 1065 1065 1069 1069 1074 1075 1078 1079 1082 1083 1084 1086 1087 1092 ° We are very grateful to Markus Brunnermeier, George Constantinides, Kent Daniel, Milt Harris, Ming Huang, Owen Lamont, Jay Ritter, Andrei Shleifer, Jeremy Stein and Tuomo Vuolteenaho for extensive comments. Handbook of the Economics of Finance, Edited by G.M. Constantinides, M. Harris and R. Stulz © 2003 Elsevier Science B.V All rights reserved . 1054 5.2. Belief-based models with institutional frictions 5.3. Preferences N. Barberis and R. Thaler 6. Application: Closed-end funds and comovement 6.1. Closed-end funds 6.2. Comovement 7. Application: Investor behavior 7.1. 7.2. 7.3. 7.4. 7.5. Insufficient diversification Naive diversification Excessive trading The selling decision...
Words: 9136 - Pages: 37
...Oxford OX1 3UQ OLIGOPOLY AND TRADE Dermot Leahyy National University of Ireland, Maynooth J. Peter Nearyz University of Oxford and CEPR December 13, 2010 Abstract In this chapter we present a selective analytic survey of some of the main results of trade under oligopoly. We concentrate on three topics: oligopoly as an independent determinant of trade, as illustrated by the reciprocal-markets model of Brander (1981); oligopoly as an independent rationale for government intervention, as illustrated by strategic trade and industrial policy in the third-market model of Spencer and Brander (1983); and the challenges and potential of embedding trade under oligopoly in general equilibrium as illustrated by the GOLE model of Neary (2002). Keywords: GOLE (General Oligopolistic Equilibrium); reciprocal dumping; strategic trade policy. JEL Classi…cation: F12, L13 Prepared for the Palgrave Handbook of International Trade, edited by Daniel Bernhofen, Rod Falvey, David Greenaway and Udo Kreickemeier. We are grateful to Daniel Bernhofen, Monika Mrázová and Tony Venables for helpful discussions. Dermot Leahy acknowledges the support of the Science Foundation Ireland Research Frontiers Programme (Grant MAT 017). y Department of Economics, National University of Ireland, Maynooth, Maynooth, Co. Kildare, Ireland; tel.: +353 (0) 1-708 3786; e-mail: dermot.leahy@nuim.ie. z Address for Correspondence: Department of Economics, University of Oxford, Manor Road Building, Oxford, OX1 3UQ, U.K.;...
Words: 18352 - Pages: 74
...problem of in uencing the number of entrants while taking as given ÿrm behavior upon entry. I consider two alternative models of simultaneous entry: grab-the-dollar entry and war-of-attrition entry. I show that, if entry costs are low, then the results from previous models of sequential entry are fairly robust to the possibility of simultaneous entry. If however entry costs are high, then the welfare e ects of free entry depend delicately on the nature of the entry game being played. c 2003 Elsevier B.V. All rights reserved. JEL classiÿcation: L1; L6; L9 Keywords: Entry; Welfare 1. Introduction Economists frequently presume that free entry is desirable from a social welfare point of view. In fact, free entry is one of the conditions underlying the First Welfare Theorem. However, it is well known that, once one of the conditions for the theorem is removed, the other conditions are no longer necessarily desirable (Lipsey and Lancaster, 1956). Speciÿcally, a number of authors have shown that, once we abandon the assumption of competitive pricing behavior, free entry may no longer be a good thing. See Williamson (1968), Spence (1976), Dixit and Stiglitz (1977), A previous version of this paper was circulated under the title “Entry Mistakes”. Corresponding address. Stern School of Business, New York University, 44 West 4th Street, New York, NY 10012, USA. Tel.: +1-212-998-0858; fax: +1-212-998-0958. E-mail address:...
Words: 6303 - Pages: 26
...experimental group. My observations were to observe both groups for a week during different intervals of media exposure. My nephews, the experimental group, were observed during and after watching television, using the computer, and listening to music. They were then observed when these forms of media were limited. My mother and sister, the control group, were observed during the limited periods of their television usage and listening to non-secular music. I believe there is direct correlation between adults and children who watch and listen to obsessive amounts of television, movies, news, and popular music and aggressive behavior, stress, dispositions, and sleep and eating habits. The case study observations supported this theory. Keywords: mass media, mass-media control, aggressive behavior, perceptions, adverse misconceptions, psychological adaptation, media nationalism, suggestive media, groupthink nationalism Mass Media Control Mass media can influence opinions, values and beliefs of the general public by controlling the language used to report and communicate information. Our minds, throughout life, become a playing field for the producers to influence the consumers to buy into their various services, trends, politics, and products. It was stated by Abraham Lincoln, during the Gettysburg...
Words: 2933 - Pages: 12
...risk of infection and amputations. Diabetes wound care management is an important and fundamental aspect when it comes to diabetes teaching and education. Assessment of the feet daily and at a primary care office will provide information such as noncompliance, risks for neuropathy, peripheral vascular disease, macro-vascular disease, and possible amputation. Education provided by health care practitioners to the diabetic population will promote decrease in risk for further complications and the patient to be involved in their own care. Assessment, treatment, and education on wound care management with the involvement of the patient will increase the patient’s quality of life and be very beneficial to both the practitioner and the patient. Keywords: diabetic wound care management, diabetic ulcer care, outpatient diabetes management, diabetic care management Introduction Working in a primary care setting will involve a multitude of disease processes- diabetes mellitus being one of them. Diabetes is a disease that is characterized by high levels of blood glucose with a defect in insulin secretion and cell resistance. Without proper management, diabetes may lead to other issues in health. Examples of such, would be, delay in wound healing, leading to foot ulcerations, which thus increases the risk for amputations (Sheridan, 2012). There is an estimated 15.7 million Americans that are affected by diabetes, with an unknown number of people who have not been properly diagnosed. Many...
Words: 5353 - Pages: 22
