The Role of Financial Literacy in Online Peer-to-Peer Lending: An Empirical Approach

With the development of FinTech, more and more individuals are entitled to participate in financial activities, but little is known about whether they are well-equipped to make the right decisions and thus benefit from financial services. Especially, financial products and services are often perceived to be complex. Therefore, financial literacy (i.e. individuals’ ability to process economic information and make informed decision) plays a key role. In this study, we collaborate with a large P2P platform and innovate the measurement of financial literacy. Rather than assessing financial literacy through survey questions, we measure it by observing individuals’ actual decisions made on personal credit on the platform. Our preliminary results demonstrate the importance of financial literacy for both borrowing and investment in online P2P lending. Our study contributes to the nascent IS literature on FinTech, and provides practical insights for P2P lending platform owners and policy makers

A two-step sensitivity analysis for hydrological signatures in Jinhua River Basin, East China

This is the author accepted manuscript. The final version is available from Taylor & Francis via the DOI in this record.Parameter calibration and sensitivity analysis are usually not straightforward tasks for distributed hydrological models, owing to the complexity of model and large number of parameters. A two-step sensitivity analysis approach is proposed for analyzing the hydrological signatures based on the Distributed Hydrology-Soil-Vegetation Model in Jinhua River Basin, East China. A preliminary sensitivity analysis is conducted to obtain influential parameters via Analysis of Variance. These parameters are further analyzed through a variance-based global sensitivity analysis method to achieve robust rankings and parameter contributions. Parallel computing is designed to reduce computational burden. The results reveal that only a few parameters are significantly sensitive and the interactions between parameters could not be ignored. When analyzing hydrological signatures, it is found that water yield was simulated very well for most samples. Small and medium floods are simulated very well while slight underestimations happen to large floods.This work was supported by National Natural Science Foundation of China (91547106 and 51379183), Zhejiang Provincial Natural Science Foundation of China (LR14E090001), and National Key Research and Development Plan "Inter-governmental Cooperation in International Scientific and Technological Innovation"(2016YFE0122100)

Influence of Fermion Velocity Renormalization on Dynamical Mass Generation in QED3_3

We study dynamical fermion mass generation in (2+1)-dimensional quantum electrodynamics with a gauge field coupling to massless Dirac fermions and non-relativistic scalar bosons. We calculate the fermion velocity renormalization and then examine its influence on dynamical mass generation by using the Dyson-Schwinger equation. It is found that dynamical mass generation takes place even after including the scalar bosons as long as the bosonic compressibility parameter $\xi$ is sufficiently small. In addition, the fermion velocity renormalization enhances the dynamically generated mass.Comment: 6 pages, 3 figures, Chinese Physics Letter, Vol 29, page 057401(2012

Hawking radiation of Dirac particles via tunneling from Kerr black hole

We investigated Dirac Particles' Hawking radiation from event horizon of Kerr black hole in terms of the tunneling formalism. Applying WKB approximation to the general covariant Dirac equation in Kerr spacetime background, we obtain the tunneling probability for fermions and Hawking temperature of Kerr black hole. The result obtained by taking the fermion tunneling into account is consistent with the previous literatures.Comment: 7 pages, no figures, to appear in CQ