The digital economy has become a transformative force, fundamentally reshaping global economic structures, business models, and governance frameworks. At its core lies crowd science and engineering (CSE), which leverages the interconnectedness of diverse smart entities—composed of individuals, enterprises, and governmental agencies—to enhance the stability of the economic system and the efficiency of resource allocation[1]. This synergy fosters smarter, more adaptive systems, enabling innovation and resilience across industries while optimizing processes for sustainable growth.

In the digital economy era, the rapid expansion of internet platforms has resulted in highly concentrated market structures in online markets, thereby eliciting intensified scrutiny from regulatory authorities. In this paper, we aim to explore the key factors that shape the boundaries of platform firms by extending the transaction cost theory. We first define the boundaries of platform enterprises and provide specific measurement methods for their boundaries. By analyzing the distinctions between platform enterprises and manufacturing firms, we adapt the classical transaction cost theory to identify the key determinants of platform enterprise boundaries across three dimensions: data assets and digital technology, network effects, and organizational models. Finally, we offer policy recommendations to foster the healthy development of the platform economy based on our theoretical analysis. Our study highlights the critical role of platform boundary decisions within the framework of crowd science, as they fundamentally shape how diverse smart entities are coordinated on the platform to impact resource allocation efficiency and market stability.

With the application of big data, blockchain and other digital technologies, digital asset markets are rapidly expanding worldwide, digital products are becoming increasingly rich, and transaction subjects tend to be diversified. In the perspective of digital asset transaction and valuation, we firstly provide the classification of digital assets and the development of the digital asset markets. Then, we establish the ecosystem of the digital asset market, and summarize the specific transaction mechanism within such ecosystem. Finally, we analyze the price formation mechanism in centralized transaction scenario and distributed transaction scenario, respectively.

数字经济时代的监管转 型戚聿东(北京师范大学经济与工商管理学院院长、教授) 我主要讲三方面内容:数字经济的特征与发展、相关历史经验、数字经济时代的监管转型方向. (一)数字经济的特征与发展 底层数字技术驱动的数字经济正在全球蓬勃兴起,新产业、新业态、新模式层出不穷.数字经济发展沿着两个路径演进:一方面,数字产业雨后春笋般兴起;另一方面,在数字技术赋能下的传统产业数字化也在大踏步前进.因此,数戚聿东(北京师范大学经济与工商管理学院字经济包括数字产业化和产业数字化两方面.

The outbreak of Covid-19 has posed severe negative impact on household consumption. This paper investigates the boosting effect of online retailing on household consumption during the epidemic period. Based on the data of Anhui Province in China, this paper show that during the epidemic period, every 1% increase in the growth rate of online retail sales could increase the proportion of total retail sales of consumer goods above the quota in GDP by 4.27%. Therefore, we provide reliable empirical evidence of promoting consumer consumption through the development of online retail under the normalization of the epidemic situation.

通过总结1998-2018年中国互联网经济的实践发展进程和研究热点与脉络,将互联网经济的发展实践分为起步阶段(1998-2000年)、动荡阶段(2001--2008年)、移动化与多元化阶段(2009-2012年)以及繁荣发展阶段(2013-2018年).与之相对的,对互联网经济的研究也呈现出阶段性特征,经历了探索期、迷茫期、快速发展期、相对成熟期四个阶段.通过分析各阶段的发文量、关键词共现知识图谱等内容,发现早期研究多关注互联网的技术属性,且多为探索式的研究,主题较为分散;随着互联网对经济社会影响的加深,互联网经济的相关研究也逐渐走向成熟,并开始与主流经济学对话.

本文通过构建动态博弈模型,从监管机制的视角对比分析了平台市场中政府和平台企业不同的监管方式对卖家质量选择与监管激励的影响.本文区分了三种不同的监管模式:(1)政府直接对卖家进行单一的公共监管;(2)平台企业对卖家进行单一的私人监管;(3)政府和平台企业对卖家进行协同监管.通过对比三种监管模式下的均衡结果以及比较静态分析结果发现:对于单一监管模式,如果平台市场规模较大,平台企业私人监管下的商品质量将高于政府公共监管的质量水平;对于协同监管模式,如果平台企业承担的连带责任较大,政府与平台协同监管下的商品质量将高于任何一种单一监管模式.另外,政府与平台的监管力度并非简单的互补或替代,两者间的关系取决于处罚强度、平台规模、连带责任等参数.最后,从监管激励角度上看,对卖家处罚强度并非越高越好,存在一个适中的强度能够最大化并且最优地协调政府和平台的监管力度.

In this paper, we focus on the business model of online ride-hailing platform and analyze the fundamental factors that determines the economic performance of online ride-hailing business model. We define the business model of platform economy in the perspective of organizational economics, and based on this definition, two types business model of online ride-hailing market are conceptually constructed. Then, we analyze the economic determinants that influence the adoption of the business model of the online ride-hailing platform. We find that, when the network effects is weak and the passengers' heterogeneity degree in service quality is low, the marketplace model dominates the online ride-hailing market and the market competition level is relatively low; when the network effects and passengers' heterogeneity degree are moderate, the marketplace model remains dominant, while the integration model will emerge in the market, and the proportion of two models depend on the level of network effects and passengers' heterogeneity degree; when the network effects and passengers' heterogeneity degree are all high, the marketplace model and the integration model will coexist, and the market competition is relatively high.

近年来,我国数字经济的发展势头异常迅猛,与经济社会各领域融合的广度和深度不断拓展,不仅在激发消费、拉动投资、创造就业等方面发挥重要作用,也在催生与聚合各类创新要素,为传统经济注入新动能,成为国民经济发展的重要驱动力.与数字经济蓬勃成长形成鲜明对比的是,数字经济的理论研究却相对滞后,既无法系统性地解释数字经济中出现的一系列“新现象”,更不能为数字经济的健康发展提供逻辑一贯的政策建议.为了促进互联网与数字经济领域的理论分析与实证研究的提升,在中央财经大学中国互联网经济研究院的倡议下,《经济研究》编辑部联合中央财经大学中国互联网经济研究院与经济学院、清华大学电子商务交易技术国家工程实验室和经济学研究所、复旦大学大数据学院、南京大学经济学院、湖南大学金融与统计学院、浙江大学经济学院和中国跨境电子商务研究院、京东研究院、腾讯研究院等单位共同发起了“互联网与数字经济论坛”.首届互联网与数字经济论坛于2019年3月2日在中央财经大学召开.

On the basis of analyzing the dilemma of Internet economic statistics in China, this paper proposes the reform ideas of Internet economic statistics: based on the economic theory of the Internet, from the view of economic evolution, taking economic operation law as the foundation and the traditional statistical system as the reference, and being open-minded for the statistics work. And then the paper establishes the statistical index system from the supply side, demand side and transaction side of the economic development, with each side not only examining the Internet economy itself, but also considering its relationship with the traditional economy, and various indexes formed to reflect the development of Internet economy ultimately.

In this paper, we try to bridge two disciplines: crowd science and economics. We first re-expound five essential research questions in the perspective of economics and elaborate how to study crowd science in the framework of economics in each essential question. Then, we build a simple model to illustrate the importance of wisdom of crowd by investigating the incentive of product development in crowdfunding when the market demand is uncertain. We show that, that under certain conditions, crowdfunding can provide more accurate demand information and therefore can generate better incentives to entrepreneurs and help entrepreneurs make correct decisions.

本文通过构建一个简单的多期模型,探讨或有资本对于降低银行信用风险、减少资产抛售量和增强市场稳定性的作用.我们发现:通过事先持有或有资本,银行能够有效地降低自身的信用风险,并在一定条件下减少银行资产的抛售量,实现稳定金融市场的目的.我们首先分析了当资产价格外生给定时,拥有不同资本结构的银行发生信用风险的条件;以及,当银行拥有或有资本时,其选择不同资本补充方式(选择抛售资产还是触发或有资本转换)的条件.然后,我们通过引入资产市场将资产价格内生化,发现之前得到的绝大部分结果仍然成立,证明了本文理论分析结果的稳健性.

This paper discussed the bank risk taking problem when the investors suffer liquidity shock. If banks can choose the return and riskiness of long-term asset, but cannot make a valid commitment on the asset choice to the investors, comparing to the welfare-maximization allocations, the equilibrium allocations will be distorted severely, that is, the short-term financing interest rates are too low, and the long-term financing interest rates are too high, besides, the riskiness of the long-term asset chosen by the banks will be higher than the social optimal level. However, if the government can effectively regulate the term structure of bank financing rates, then the riskiness of the long-term asset can return to the social optimal level.

金融机构的过度风险承担问题一直是人们关注的焦点。银行之间针对存款的竞争将迫使各银行提高存款利率,进而导致银行投资风险更高的资产。此外,银行间竞争程度越激烈,其过度风险承担问题越严重。为了缓解这一问题,监管部门可以通过提高银行资本要求,部分地抑制银行过度承担风险的动机。但这仍不足以保证银行选择社会最优的风险水平。因此,监管部门还应考虑制定相关措施,以减少银行数量以及降低金融服务成本,从而可以进一步减轻银行的过度风险承担问题。

<正>党的十七大提出了"行政管理体制改革是深化改革的重要环节"的重要论断,指明了行政管理体制改革的重要性和必要性,同时明确要求"抓紧制定行政管理体制改革总体方案",加快了我国行政管理体制改革步伐。特别是党的十七届二中全会通过了《关于深化行政管理体制改革的意见》,使得行政管理体制改革的研究成为学界焦点。学者们就

Ecological footprint is at present one of the most commonly-used methodologies of natural capital research,which well reflects the trend of regional sustainable development.This paper has conducted a quantitative research and comparative analysis of the fluctuation of Wuhan’s natural capital in 1995,2000 and 2005 through ecological footprint methodology.The result shows that the proportion between demand and supply of natural capital in these three years is respectively 18.402∶1,20.765∶1,and 27.276∶ 1,which highlights the severe contradiction between supply and demand.And the ecological deficit per capita is respectively 2.420 6 hm2·cap-1,2.516 3 hm2·cap-1,and 2.900 9 hm2·cap-1,which shows an increasing tendency and turns out to be a bottleneck that limits the sustainable development of Wuhan.Eco-land categorical analysis shows that components of cropland,fisheries and fossil fuels suffer severe problems of deficit and should therefore be most targeted objects in the improvement of Wuhan’s natural capital status.In this paper,the author suggests a series of measures such as advocating rational consumption,improving green security system,and optimizing urban ecological function so as to provide basis for Wuhan’s sustainable development.

在二维翼型自适应的研究基础上 ,用Powell法优化计算了对前缘后掠角为 35°,展弦比为 3.9,梢根比为 0 .1 7,机翼剖面为NACA65 0 0 6翼型的梯形翼的前后缘舵面偏转角 ,从而获得了在亚跨声速时升阻比大而在超声速时阻力系数小的自适应机翼的最优气动外形 .采用了并行遗传算法 ,计算了要求亚跨声速升阻比大同时超声速阻力小的气动双目标优化机翼的外形 .讨论了优化机翼相对于原始机翼的气动增益 .与二维一样 ,三维数值算例也证明了自适应机翼可获得明显的气动增益

计算并讨论了不同马赫数(Ma)和攻角(α)下简化的自适应翼型的舵面偏转角的规律.计算中采用代数方法生成计算网络,用有限体积法离散二维可压缩流动的Euler方程,采用了矢通量分裂Van-leer格式离散无粘通量,用隐式的时间积分和多重网格加速收敛.用数值优化方法取得自适应翼型最优的舵面偏角,并计算其气动特性.为验证自适应翼型增益的效果,计算了双目标优化翼型的气动特性.本文计算了对称圆弧翼型和NACA65A006翼型.计算结果表明,自适应翼型比双目标优化的翼型有更好的气动特性.

Researching the adaptation of airfoil lays the foundation for designing adaptive wings. Powell method is used to optimize deflection angles of leading and trailing flaps of an airfoil at various Mach numbers and angles of attack.Thus, an adaptive airfoil is obtained whose lift drag ratio at subsonic speed is larger and drag coefficient at supersonic speed is smaller than the baseline airfoil's. The aerodynamic performance of the adaptive aerofoil is compared with that of original airfoil and bi objective optimization airfoil (large lift drag ratio at subsonic speed and small drag coefficient at supersonic speed). It is shown that aerodynamic efficiency of an adaptive airfoil is higher than that of a bi objective optimization airfoil. The influence of airfoil's leading and trailing flaps' deflection location on aerodynamic efficiency is also discussed primarily.