Abstract:To support online customers to make better purchase decisions and promote sales，online shopping websites often encourage customers to post product reviews by providing different incentives ( e． g． ，small economic rewards) ． But how economic rewards affect online product reviews is still an unanswered question．Based on theories of social relations，this empirical study investigates the effects of economic rewards on online reviews by using data from two popular B2C websites in China ( jd． com and amazon． cn) ． The results show that compared with social rewards，economic rewards may lead consumers to post online reviews with higher review rating but lower review depth and less review helpfulness．

Abstract:This paper considers a manufacturer who provides two products competing on three aspects: Price，quality and service，and discusses competition equilibriums and the coordination strategy． Through formulating a simple supply chain consisting of a manufacturer and a customer，we analyze the competition results in two scenarios: The uncoordinated scenario and coordinated scenario． By a numerical simulation analysis，we discuss how competition results are influenced by the parameters． The results indicate that coordinating products decisions is a dominant strategy for a manufacturer． Coordination can bring more benefits when there is a bigger gap between the two products prices，or when the products have more advantages of quality or service cost．The coordination strategy can compensate for disadvantages of product quality cost or service cost． However，from the perspective of the whole market development，noncoordination can enhance the competitive intensity，which leads to higher product quality and service levels． Customers can benefit a lot from the noncoordination strategy，and hence the amount of customers is increasing．

Abstract:High-tech companies can obtain a patent and commercialize it; or directly commercialize it after successful Ｒ＆Ds in secret without a patent． From the view of limited ration，considering the actual psychological feelings of the investors of venture capital and the characteristics of high-risk and multi-stage capital injection in the high-tech project of high-tech companies，the paper establishes a dynamic，multi-stage investment decision evaluation model based on limited ration，real option and different technology strategies． The proposed model factually and inclusively evaluates the high-tech projects and supervises the venture capital investment decisions． The model provides its parameters value and the influences of all parameters are analyzed．Some policy suggestions are provided in the end．

Abstract:Taking into consideration the cooperative problem in complex project teams，this paper establishes an indirect evolutionary game model incorporating with altruism preferences and finite groups，and studies the interaction and evolution of selfishness and altruism preferences in a complex project team． The results show that: for projects with higher unit effort costs，agents can be efficiently motivated towards altruism by smaller teams，higher profits shares，and other spiritual benefits from altruism; in contrast，for projects with lower unit effort costs，higher profit share and spiritual benefits from altruism will not lead agents to be altruism or even potential altruism． Finally，the theoretical results are verified by a simulation and policy suggestions are made for managers aiming at promoting altruism in a complex project team．

Abstract:This study explores the unique characteristics of new ventures in China during the transitional period．Specifically，not only entrepreneurial orientation plays its role in improving new ventures’performances，but also opportunistic orientation． Based on the life cycle theory，this study examines how entrepreneurial orientation and opportunistic orientation influence entrepreneurial performances． Through analyzing 263 new ventures in China，the paper finds that entrepreneurial orientation alone positively influences entrepreneurial performance in both the creation stage and growth stage． However，in new ventures’creation stage，the interactive effects of entrepreneurial orientation and opportunistic orientation positively influence entrepreneurial performance;in new ventures’growth stage，the interactive effect of entrepreneurial orientation and opportunistic orientation negatively influence entrepreneurial performance．

Abstract:In order to study that the marginal effect of some explanatory variables may depend on other covariates such as in the problem of income inequality on health，we propose a semi-parametric binary response model with random effects which can reduce both model specification and omitted variable bias． Its nonparametric specification can also be used to the exploratory data analysis． Then the estimation procedures are established，where the difficulties lies in the evaluation of the intractable integral caused by random effects，and the existence of nonparametric parts makes it even tougher． We solve it by using EM and MCMC algorithm together with non-parametric B spline method． The estimators are shown to be consistent． Simulation studies show the good properties of the estimators． A practical application of our model supports the weak version of income inequality hypothesis．

Abstract:We derive analytic formulas for fair strike prices of discretely-sampled ( forward-start) variance swaps under a class of stochastic volatility jump ( SVJ) models． This class covers a couple of stochastic volatility and jump models which have been studied widely in literature including both affine and non-affine models．We demonstrate a general methodology to find analytic formulas for the class while we obtain explicit solutions for several special cases． Numerical examples show that our solutions give close results to Monte Carlo simulations．Obviously，our explicit solutions beat the latter in speed．

Abstract:This paper introduces the indices of herding behavior and market volatility based on multifractal spectrum． Employing the nonlinear Granger causality test proposed by Diks and Panchenko and the cross-correlation coefficient proposed by Zebende，we investigate the dynamic linkages between herding behavior and market volatility． The empirical results indicate that the relationship between herding behavior and market volatility in the Shenzhen stock market is nonlinear，rather than the simple linear linkage． The correlations and causality relationships between herding behavior and market volatility are largely different between before and after the recent financial crisis． Specifically，before the reform of the shareholders in 2005，herding behavior and market volatility could not affect each other． During the period of 2005 － 2007，herding behavior had positive effects on market volatility． However，after 2008，herding behavior had negative effects on market volatility，meanwhile market volatility also had negative effects on herding behavior． This new finding indicates that herding behavior does not always result in“positive feedback”effects as claimed in conventional studies and “negative feedback”effects are present sometimes．