Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.F...Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.展开更多
2006 is the commencing year of the Eleventh Five-Year Plan for National Economic and Social Development, and also the fifth anniversary of China joining the World Trade Organization. After the development of the trans...2006 is the commencing year of the Eleventh Five-Year Plan for National Economic and Social Development, and also the fifth anniversary of China joining the World Trade Organization. After the development of the transition period in these years, China’s national economy has successfully inte grated into the global system. National economy remains de- veloping at a high speed. The total amount of import and export reached more than 1.4 trillion USD,展开更多
Artificial intelligence is a new technological science that researches and develops theories,methods,technologies and application systems for simulating,extending and expanding human intelligence.It simulates certain ...Artificial intelligence is a new technological science that researches and develops theories,methods,technologies and application systems for simulating,extending and expanding human intelligence.It simulates certain human thought processes and intelligent behaviors(such as learning,reasoning,thinking,planning,etc.),and produces a new type of intelligent machine that can respond in a similar way to human intelligence.In the past 30 years,it has achieved rapid development in various industries and related disciplines such as manufacturing,medical care,finance,and transportation.展开更多
Resources scarcity,environmental pollution and climate change pose a great threat to the survival and development of humanity.The fundamental way out is innovation.Chinese President Xi Jinping proposed'discussions...Resources scarcity,environmental pollution and climate change pose a great threat to the survival and development of humanity.The fundamental way out is innovation.Chinese President Xi Jinping proposed'discussions on establishing Global Energy Interconnection,or GEI to facilitate efforts to meet global power demand with clean and green alternatives'at the UN Sustainable Development展开更多
基金the financial support provided by the Humanities and Social Sciences Program of Chinese Ministry of Education(Grant Nos.19YJCZH106 and 20YJCZH201)National Natural Science Foundation of China(Grant Nos.71904111 and 71774105)Program for the Philosophy and Social Sciences Research of Higher Learning Institutions of Shanxi(Grant No.201803079,2nd[2018]of Jin Education)。
文摘Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.
文摘2006 is the commencing year of the Eleventh Five-Year Plan for National Economic and Social Development, and also the fifth anniversary of China joining the World Trade Organization. After the development of the transition period in these years, China’s national economy has successfully inte grated into the global system. National economy remains de- veloping at a high speed. The total amount of import and export reached more than 1.4 trillion USD,
文摘Artificial intelligence is a new technological science that researches and develops theories,methods,technologies and application systems for simulating,extending and expanding human intelligence.It simulates certain human thought processes and intelligent behaviors(such as learning,reasoning,thinking,planning,etc.),and produces a new type of intelligent machine that can respond in a similar way to human intelligence.In the past 30 years,it has achieved rapid development in various industries and related disciplines such as manufacturing,medical care,finance,and transportation.
文摘Resources scarcity,environmental pollution and climate change pose a great threat to the survival and development of humanity.The fundamental way out is innovation.Chinese President Xi Jinping proposed'discussions on establishing Global Energy Interconnection,or GEI to facilitate efforts to meet global power demand with clean and green alternatives'at the UN Sustainable Development
