The Innovative Design of Inter-bank Bond Market System
Presently, the development of China’s capital market is characterized by the slow development of bond market, so the establishment of a multi-level capital market needs more development led by the inter-bank bond market. The content and suggestion of innovative design of inter-bank bond market are discussed from the macro aspects of distribution system, transaction system, market-maker system and regulatory mechanisms. Key words: Inter-Bank bond market; System; Innovation
Competence System Management
Competence Set Analysis is a managerial decision analysis theory proposed and studied in 1980’s by the distinguished Professor Po-Lung Yu of Management Science, USA. In this paper, the recent research results in this field and its applications are reviewed, including behavior and decision mechanism, behavior hypotheses, common behavior tendencies, habitual domains analysis, competence set analysis, competence system management, etc.. Finally, further possible extensions and research problems are discussed. Key words: Decision analysis; Competence set analysis; Habitual domain; Behavior pattern; Competence system management
Stabilization through taxation inn-person games
In formulating solutions forn-person cooperative games, the concept of stability has played a dominant role. Although the core concept has the strongest stability, the core of a game is often empty. In this paper, the taxation system is incorporated into our framework, so that a modified solution concept, which enjoys the stability of core, can be developed. Various formulations based on principles such astaxation proportional to income andequity after tax are given.