Based on the β-convergence method, this paper studies whether there is innovation convergence in Chinese cities as a whole, and analyzes the reasons why cities within urban agglomerations show ...significant innovation convergence. We find that:(i) Empirical regression based on β convergence theory indicates that there is significant innovation convergence at the city level in China. The analysis based on σ convergence theory also supports this result. (ii) The speed of innovation convergence of cities within urban agglomerations is significantly higher than that of cities outside urban agglomerations. (iii) Human capital spillover and market interaction can significantly affect the level of urban innovation growth, which is the main reason for the innovation convergence difference inside and outside the urban agglomeration.
ABSTRACT-This Article draws from several theoretical frameworks such as critical race theory, law and economics, and rule of law conceptions to argue that the Financial Stability Oversight Council ...(FSOC) should formally recognize racism as a threat to financial stability due to its interconnectedness with recent and projected systemic disruptions. This Article begins by first introducing a novel model created by the author through which to dissect this claim. This Systemic Disruption Model provides a theoretical depiction of how racism drives every phase along the life-cycle continuum of a systemic disruption. First, with respect to the Models Introduction phase, this Article contends that racist practices and policies incentivize systemic disruptions. These practices and policies transform Black communities (and other vulnerable areas) into ideal dumping grounds for negative externalities produced by the private sector. For example, redlining and restrictive racial covenants made Black communities ideal targets for subprime mortgages during the initial stages of the financial crisis of 2007-2009. Racism then leads to blind spots where market participants magnify the economic benefits flowing from such negative externalities while underestimating its resulting costs. Second, during its Growth phase, these blind spots cause the systemic disruption to expand exponentially since market participants create additional avenues for exclusive commodification. During the financial crisis of 2007-2009, for instance, subprime mortgages were repackaged into financial instruments and sold to elite counterparties across the globe. Relying on the quintessential free market to resolve these harms has therefore proven inadequate. Third, when the systemic disruption reaches its Maturity phase, the disparate harms experienced by Black people and other vulnerable communities spill over into the masses. The excessive leverage pumped into the market during the financial crisis led to the cascading failures and losses that spread to every comer of the market. Based on this novel Systemic Disruption Model, this Article therefore argues that Professor Derrick Bells interest-convergence theory firmly takes root within this Maturity phase since this spillover effect is a necessary condition for meaningful regulatory intervention. Racism, however, can extend the depth and duration of this Maturity phase given the tendency of lawmakers to grant selective relief for elite classes. As the systemic disruption goes into its fourth and last phase of "Decline," racism causes lawmakers to underestimate the long-term costs accruing to vulnerable communities, which creates a fertile breeding ground for future systemic disruptions. This Article applies this same analytical framework in assessing how the systemic disruption generated by climate change is similarly connected to racism. A formal recognition by FSOC that recognizes racism as a threat to financial stability could significantly disrupt this deeply troubling cycle. Such a designation would first concede the limitations of preexisting protections that arise under federal and state law, as well as privately ordered responses, which could increase the likelihood for more inclusive rulemaking going forward. It could further serve as a framework for formalizing data collection mechanisms, coordination across regulatory agencies, and expertise building within every comer of the financial markets. Finally, an FSOC designation could spur investors, asset managers, stakeholders, and nongovernmental organizations to advocate for meaningful reform, while stimulating integral rulemaking from applicable regulatory agencies. For example, this could be a vital step in prompting the U.S. Securities and Exchange Commission (SEC) to promulgate mies within the context of its ongoing commitment to streamline the environmental, social, and governance (ESG) metrics utilized by its registrants. Mandatory racial-equity disclosures implemented by the SEC could assist in weeding out systemically racist practices that compromise investor protection, while increasing competition and accountability.
This paper reports a new fourth order Finite Difference Method (FDM) in exponential form for two-dimensional quasilinear boundary value problem of elliptic type (BVPE) with variant solution domain. ...Further, this discretization is extended to solve the system of quasilinear BVPEs. Following are the main highlights of the proposed FDM:
• An unequal mesh 9-point compact stencil is used to approximate the solution. Half-step points are used to evaluate the known variables of this problem. The convergence theory is studied for unequal mesh to validate the fourth order convergence of the suggested FDM.
• It is applicable to BVPE irrespective of coordinate systems. Various benchmark problems, for example, Poisson equation in cylindrical coordinates, Burgers’ equation, Navier-Stokes (NS) equations in cylindrical and rectangular coordinates, are solved to depict their fourth order convergence.
• Numerical results confirm the accuracy, trustworthiness and acceptability of the suggested numerical algorithm. These results endorse the superiority of the proposed FDM over the previously existing techniques of Mohanty and Kumar (2014), Mohanty and Setia (2014), Priyadarshini and Mohanty (2021).
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The tail of the logarithmic degree distribution of networks decays linearly with respect to the logarithmic degree is known as the power law and is ubiquitous in daily lives. A commonly used ...technique in modeling the power law is preferential attachment (PA), which sequentially joins each new node to the existing nodes according to the conditional probability law proportional to a linear function of their degrees. Although effective, it is tricky to apply PA to real networks because the number of nodes and that of edges have to satisfy a linear constraint. This paper enables real application of PA by making each new node as an isolated node that attaches to other nodes according to PA scheme in some later epochs. This simple and novel strategy provides an additional degree of freedom to relax the aforementioned constraint to the observed data and uses the PA scheme to compute the implied proportion of the unobserved zero-degree nodes. By using martingale convergence theory, the degree distribution of the proposed model is shown to follow the power law and its asymptotic variance is proved to be the solution of a Sylvester matrix equation, a class of equations frequently found in the control theory (see Hansen and Sargent (2008, 2014)). These results give a strongly consistent estimator for the power-law parameter and its asymptotic normality. Note that this statistical inference procedure is non-iterative and is particularly applicable for big networks such as the World Wide Web presented in Section 6. Moreover, the proposed model offers a theoretically coherent framework that can be used to study other network features, such as clustering and connectedness, as given in Cheung (2016).
Inversion of various inclusions, that characterize continuity in topological spaces, results in numerous variants of quotient and perfect maps. In the framework of convergences, the said inclusions ...are no longer equivalent, and each of them characterizes continuity in a different concretely reflective subcategory of convergences. On the other hand, it turns out that the mentioned variants of quotient and perfect maps are quotient and perfect maps with respect to these subcategories. This perspective enables use of convergence-theoretic tools in quests related to quotient and perfect maps, considerably simplifying the traditional approach. Similar techniques would be unconceivable in the framework of topologies.
A class of trust-region methods is presented for solving unconstrained nonlinear and possibly nonconvex discretized optimization problems, like those arising in systems governed by partial ...differential equations. The algorithms in this class make use of the discretization level as a means of speeding up the computation of the step. This use is recursive, leading to true multilevel/multiscale optimization methods reminiscent of multigrid methods in linear algebra and the solution of partial differential equations. A simple algorithm of the class is then described and its numerical performance is shown to be numerically promising. This observation then motivates a proof of global convergence to first-order stationary points on the fine grid that is valid for all algorithms in the class.
The main purpose of this paper is threefold. One is to study the existence and convergence problem of solutions for a class of generalized mixed quasi-variational hemivariational inequalities. The ...second one is to study the existence of optimal control for such kind of generalized mixed quasi-variational hemivariational inequalities under given control u∈U. The third one is to study the relationship between the optimal control and the data for the underlying generalized mixed quasi-variational inequality problems and a class of minimization problem. As an application, we utilize our results to study the elastic frictional problem in a class of Hilbert spaces. The results presented in the paper extend and improve upon some recent results.
This study presents a new trust-region procedure to solve a system of nonlinear equations in several variables. The proposed approach combines an effective adaptive trust-region radius with a ...nonmonotone strategy, because it is believed that this combination can improve the efficiency and robustness of the trust-region framework. Indeed, it decreases the computational cost of the algorithm by decreasing the required number of subproblems to be solved. The global and the quadratic convergence of the proposed approach is proved without any nondegeneracy assumption of the exact Jacobian. Preliminary numerical results indicate the promising behavior of the new procedure to solve systems of nonlinear equations.
Extending Symbolic Convergence Theory Zanin, Alaina C.; Hoelscher, Carrisa S.; Kramer, Michael W.
Small group research,
08/2016, Letnik:
47, Številka:
4
Journal Article
Recenzirano
This study addresses theoretical and contextual weaknesses of symbolic convergence theory (SCT) through a fantasy theme analysis of a life enrichment group (i.e., an all-female club rugby team). By ...using a variety of data sources, including group social media posts, participant observation, and interviews, the authors found two concurrent rhetorical visions present within this group: belong and triumph. These visions were created through member chaining of fantasy themes. In contrast with current assumptions of SCT, results indicated several tensions within concurrent fantasy themes and the two rhetorical visions. Theoretical and pragmatic implications for transferability and application of symbolic convergence and fantasy themes in other life enrichment groups are discussed.
The additive Schwarz (AS) method was originally designed for preconditioning elliptic problems, and recently the method was extended successfully as a coupled space-time preconditioner for parabolic ...problems. However, the existing theory for the additive Schwarz method doesn't apply directly to the space-time discretized problems. In this paper, we develop an optimal convergence theory for the two-level space-time additive Schwarz preconditioner. We obtain lower and upper bounds for the spectrum of the AS preconditioned operator and their dependency on the fine/coarse mesh sizes in space and time, the number of subdomains, and the window size (i.e., the number of coupled time steps). Some numerical experiments are reported to confirm the theory.
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