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发展经济学workshop：Gift-giving and Risk Sharing: A Theory of Signaling and Evidence from Rural China
发布日期：2017-10-11 11:57 来源：大陆成人直播-成人直播中文
时间：2017年10月11日（周三）14：00－15：30 pm
地点：北大国发院/中国经济研究中心小教室
主持人：张晓波、李力行、席天扬
主讲人：王睿新（香港浸会大学）
题目：Gift-giving and Risk Sharing: A Theory of Signaling and Evidence from Rural China
摘要：In China and other developing countries, gift giving contributes to facilitating risk sharing by solving limited commitment problems. When effective contract enforcement is lacking, people rely greatly on friends to share risk since emotional (and moral) costs of defaulting to friends help to prevent moral hazard. The challenge is how people can distinguish between friends and non-friends. We suggest, in this paper, that gift expenses may serve as a signal of friendship since giving a gift is less costly for a friend than a non-friend due to altruism. The model re-evaluates the role of gift exchange in developing economies, and helps to rationalize the large amount of gift-giving in China (10% of living expenditure). By using a unique data set of 26 village economies in rural China, we empirically examine the contribution of gift-giving to risk sharing. The detailed records of expenses on both gift-giving and hosting ceremonies help us to disentangle the signaling function of gift-giving from quasi-credits (Fafchamps (1999)). Our empirical findings also suggest a hump shaped relation between gift-giving and income level. This evidence is consistent with our model prediction, highlighting the instrumental value of gift-giving in risk sharing.
主讲人简介：
Professor Wang is a Research Assistant Professor in Economics in Hong Kong Baptist University. He obtained PhD in Economics from Tilburg University in the Netherlands in 2015. His research interests are Development Economics and Public Economics. Most of his work focuses on Chinese economy. By using micro-econometric and experimental tools, he attempts to explore the determinants of economic development, e.g. social norm, human capital, and village governance.
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大陆成人直播
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发展经济学workshop：Gift-giving and Risk Sharing: A Theory of Signaling and Evidence from Rural China
发布日期：2017-10-11 11:57 来源：大陆成人直播-成人直播中文
时间：2017年10月11日（周三）14：00－15：30 pm
地点：北大国发院/中国经济研究中心小教室
主持人：张晓波、李力行、席天扬
主讲人：王睿新（香港浸会大学）
题目：Gift-giving and Risk Sharing: A Theory of Signaling and Evidence from Rural China
摘要：In China and other developing countries, gift giving contributes to facilitating risk sharing by solving limited commitment problems. When effective contract enforcement is lacking, people rely greatly on friends to share risk since emotional (and moral) costs of defaulting to friends help to prevent moral hazard. The challenge is how people can distinguish between friends and non-friends. We suggest, in this paper, that gift expenses may serve as a signal of friendship since giving a gift is less costly for a friend than a non-friend due to altruism. The model re-evaluates the role of gift exchange in developing economies, and helps to rationalize the large amount of gift-giving in China (10% of living expenditure). By using a unique data set of 26 village economies in rural China, we empirically examine the contribution of gift-giving to risk sharing. The detailed records of expenses on both gift-giving and hosting ceremonies help us to disentangle the signaling function of gift-giving from quasi-credits (Fafchamps (1999)). Our empirical findings also suggest a hump shaped relation between gift-giving and income level. This evidence is consistent with our model prediction, highlighting the instrumental value of gift-giving in risk sharing.
主讲人简介：
Professor Wang is a Research Assistant Professor in Economics in Hong Kong Baptist University. He obtained PhD in Economics from Tilburg University in the Netherlands in 2015. His research interests are Development Economics and Public Economics. Most of his work focuses on Chinese economy. By using micro-econometric and experimental tools, he attempts to explore the determinants of economic development, e.g. social norm, human capital, and village governance.
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