Mistry, Rashmita S.; Lowe, Edward D.; Benner, Aprile D.; Chien, Nina
The current study used a mixed-methods approach to examine how low-income mothers managed their household economies, their experiences of economic pressure, and the consequences for family and child functioning. Qualitative analyses (N = 32 families) revealed that experiences of economic pressure were associated with an inability to afford "both"…
Matyushenko Olga I.
Full Text Available The article identifies urgency of the enterprise life cycle theory in the system of managing financial and economic activity of an enterprise, identifies problems and insufficiently developed theoretical issues, namely, identification of the main indicator of the state of an organisation on the life cycle curve, which thoroughly characterises its financial and economic activity. It develops and offers a methodical approach to identification of the financial and economic state of an enterprise. The article analyses, generalises and identifies main sub-systems of an enterprise within the proposed methods. On the basis of analysis of works of scientists the article identifies main indicators that characterise each subsystem of an enterprise and identifies the entropy method, having analysed the existing methods of calculation of an integral indicator, as the most justified approach to calculation of the enterprise life cycle integral indicator.
Zhukov Andrii V.
Full Text Available The article offers developments of a methodical approach to diagnostics of efficiency of production economic activity of an enterprise, which, unlike the existing ones, is realised through the following stages: analysis of the enterprise external environment; analysis of the enterprise internal environment; identification of components of efficiency of production economic activity for carrying out complex diagnostics by the following directions: efficiency of subsystems of the enterprise production economic activity, efficiency of use of separate types of resources and socio-economic efficiency; scorecard formation; study of tendencies of change of indicators; identification of cause-effect dependencies between the main components of efficiency for diagnosing reasons of its level; diagnosing deviations of indicator values from their optimal values; development of a managerial decision on preserving and increasing efficiency of production economic activity of the enterprise.
Full Text Available One of the obvious trends in current business environment is the increased competition. In this context, organizations are becoming more and more aware of the importance of knowledge as a key factor in obtaining competitive advantage. A possible solution in knowledge management is Economic Intelligence (EI that involves the collection, evaluation, processing, analysis, and dissemination of economic data (about products, clients, competitors, etc. inside organizations. The availability of massive quantities of data correlated with advances in information and communication technology allowing for the filtering and processing of these data provide new tools for the production of economic intelligence.The research is focused on innovative aspects of economic intelligence process (models of analysis, activities, methods and informational tools and is providing practical guidelines for initiating this process. In this paper, we try: (a to contribute to a coherent view on economic intelligence process (approaches, stages, fields of application; b to describe the most important models of analysis related to this process; c to analyze the activities, methods and tools associated with each stage of an EI process.
In this study, two methods for solving economic dispatch problems, namely Hopfield neural network and lambda iteration method are compared. Three sample of power system with 3, 6 and 20 units have been considered. The time required for CPU, for solving economic dispatch of these two systems has been calculated. It has been Shown that for on-line economic dispatch, Hopfield neural network is more efficient and the time required for Convergence is considerably smaller compared to classical methods. (author)
Swinburn Boyd; Vos Theo; Magnus Anne; Markwick Alison; Moodie Marj; Carter Rob; Haby Michele M
Abstract Background The aim of the ACE-Obesity study was to determine the economic credentials of interventions which aim to prevent unhealthy weight gain in children and adolescents. We have reported elsewhere on the modelled effectiveness of 13 obesity prevention interventions in children. In this paper, we report on the cost results and associated methods together with the innovative approach to priority setting that underpins the ACE-Obesity study. Methods The Assessing Cost Effectiveness...
This paper is dedicated to the issue of innovative performance measurement. It focuses on techniques that can be employed for evaluation of single innovation project. The framework is based on detailed literature review and net present value (NPV) approach analysis. Furthermore, the paper investigates its pros and cons and discusses methods able to deal with NPV weaknesses. Used with care, these techniques can guide the management of innovation project by providing indications of its potentia...
Economics education is circumscribe a multiplicative feedback through expansion, diversification, intensive interaction between the economy and education, as being in an economic perspective on education, along with sociological, psychological, technological, religious, family, public, etc. pespective, in other words, an application of economic theories, paradigms and approaches to economic education act, act deeply human, spiritual nature. In practice perspective, the economy has education a...
Sorin Briciu; Marinela Vrîncianu; Florin Mihai
One of the obvious trends in current business environment is the increased competition. In this context, organizations are becoming more and more aware of the importance of knowledge as a key factor in obtaining competitive advantage. A possible solution in knowledge management is Economic Intelligence (EI) that involves the collection, evaluation, processing, analysis, and dissemination of economic data (about products, clients, competitors, etc.) inside organizations. The ...
Boot, Sander Paul
textabstractIn international water policy, a trend can be observed towards more attention for economic approaches in water management. In 1992, at the International Conference on Water and the Environment (ICWE) in Dublin, the Convention on the Protection and Use of Transboundary Water Courses and International Lakes was adopted. Guiding Principle 4 of this convention states that ‘water has an economic value in all its competing uses and should be recognised as an economic good’. The argument...
In this paper the problem of developing optimal bidding strategies for the participants of oligopolistic energy markets is studied. Special attention is given to the impacts of suppliers' emission of pollutants on their bidding strategies. The proposed methodology employs supply function equilibrium (SFE) model to represent the strategic behavior of each supplier and locational marginal pricing mechanism for the market clearing. The optimal bidding strategies are developed mathematically using a bilevel optimization problem where the upper-level subproblem maximizes individual supplier payoff and the lower-level subproblem solves the Independent System Operator's market clearing problem. In order to solve market clearing mechanism the multiobjective optimal power flow is used with supplier emission of pollutants, as an extra objective, subject to the supplier physical constraints. This paper uses normal boundary intersection (NBI) approach for generating Pareto optimal set and then fuzzy decision making to select the best compromise solution. The developed algorithm is applied to an IEEE 30-bus test system. Numerical results demonstrate the potential and effectiveness of the proposed multiobjective approach to develop successful bidding strategies in those energy markets that minimize generation cost and emission of pollutants simultaneously.
Full Text Available Abstract Background The aim of the ACE-Obesity study was to determine the economic credentials of interventions which aim to prevent unhealthy weight gain in children and adolescents. We have reported elsewhere on the modelled effectiveness of 13 obesity prevention interventions in children. In this paper, we report on the cost results and associated methods together with the innovative approach to priority setting that underpins the ACE-Obesity study. Methods The Assessing Cost Effectiveness (ACE approach combines technical rigour with 'due process' to facilitate evidence-based policy analysis. Technical rigour was achieved through use of standardised evaluation methods, a research team that assembles best available evidence and extensive uncertainty analysis. Cost estimates were based on pathway analysis, with resource usage estimated for the interventions and their 'current practice' comparator, as well as associated cost offsets. Due process was achieved through involvement of stakeholders, consensus decisions informed by briefing papers and 2nd stage filter analysis that captures broader factors that influence policy judgements in addition to cost-effectiveness results. The 2nd stage filters agreed by stakeholders were 'equity', 'strength of the evidence', 'feasibility of implementation', 'acceptability to stakeholders', 'sustainability' and 'potential for side-effects'. Results The intervention costs varied considerably, both in absolute terms (from cost saving [6 interventions] to in excess of AUD50m per annum and when expressed as a 'cost per child' estimate (from Conclusion The use of consistent methods enables valid comparison of potential intervention costs and cost-offsets for each of the interventions. ACE-Obesity informs policy-makers about cost-effectiveness, health impact, affordability and 2nd stage filters for important options for preventing unhealthy weight gain in children. In related articles cost-effectiveness results and
S.P. Boot (Sander Paul)
textabstractIn international water policy, a trend can be observed towards more attention for economic approaches in water management. In 1992, at the International Conference on Water and the Environment (ICWE) in Dublin, the Convention on the Protection and Use of Transboundary Water Courses and I
Full Text Available In teaching statistics to economists, it often happens that insuffi cient distinction is drawn between statistical methods applied on economic data on the one hand, and economic statistics as a special discipline with its own theoretic basis, fundamental notions and a specific concept of indices on the other hand. The authors endeavour to point out pitfalls of this insuffi cient distinction and introduce didactic ways to resolve this problem.
Full Text Available The paper aims to assess how economic benchmarking is being used by airports as a means of performance measurement and comparison of major international airports in the world. The study focuses on current benchmarking practices and methods by taking into account different factors according to which it is efficient to benchmark airports performance. As methods are considered mainly data envelopment analysis and stochastic frontier analysis. Apart from them other approaches are discussed by airports to provide economic benchmarking. The main objective of this article is to evaluate the efficiency of the airports and answer some undetermined questions involving economic benchmarking of the airports.
Stephen D. Williamson; Wright, Randall
This essay articulates the principles and practices of New Monetarism, the authors' label for a recent body of work on money, banking, payments, and asset markets. They first discuss methodological issues distinguishing their approach from others: New Monetarism has something in common with Old Monetarism, but there are also important differences; it has little in common with Keynesianism. They describe the principles of these schools and contrast them with their approach. To show how it work...
The paper aims to assess how economic benchmarking is being used by airports as a means of performance measurement and comparison of major international airports in the world. The study focuses on current benchmarking practices and methods by taking into account different factors according to which it is efficient to benchmark airports performance. As methods are considered mainly data envelopment analysis and stochastic frontier analysis. Apart from them other approaches are discussed by air...
Optimization problems are ubiquitous in economics. Many of these problems are sufficiently complex that they cannot be solved analytically. Instead economists need to resort to numerical methods. This article presents the most commonly used methods for both unconstrained and constrained optimization problems in economics; it emphasizes the solid theoretical foundation of these methods, illustrating them with examples. The presentation includes a summary of the most popular software packages f...
Leus Daryna V.
Full Text Available The article analyses scientific and methodical approaches to portfolio investment. It develops recommendations on specification of the categorical apparatus of portfolio investment in the context of differentiation of strategic (direct and portfolio investments as alternative approaches to the conduct of investment activity. It identifies the composition and functions of objects and subjects of portfolio investment under conditions of globalisation of the world financial markets. It studies main postulates of the portfolio theory and justifies a necessity of identification of the place, role and functions of subjects of portfolio investment in them for ensuring sustainable development of the economy. It offers to specify, as one of the ways of further development of portfolio theories, a separate direction in the financial provision of economy with consideration of ecologic and social components – socio responsible investment.
Bergh, van den, H.
This provides a short overview of the main themes of ecological economics (EE). It isargued that EE provides a platform that fosters multidisciplinary environmental research bybringing together the core contributing disciplines economics and ecology. In addition, EE isregarded as a pluralistic approach to environmental research that can be set opposite to, and hasindeed developed as a response to, traditional environmental and resource economics. Acomparison of the two fields is presented to ...
Martins, Nuno O.
Copyright © 2011 Elsevier B.V. All rights reserved. The relationship between sustainability economics and the capability approach has recently been explored. Here I shall discuss this relationship, and argue that a study of the ontology underlying the capability approach can help us to see more clearly the interconnections between sustainability economics and the capability approach. In particular, the interpretations of the capability approach as an ontological exercise, which have recent...
Development economists are increasingly concerned about the correct approach to economic analysis of projects. By looking for a compromise between theory (which identifies ideals) and practice (which deals within the bounds of time and resource constraints), Lovei focuses on potential guidelines for economic appraisals of water supply projects. He summarizes theory and the current World Bank guidelines on the economic analysis of water supply projects; reviews the method of economic analysis ...
One of the most efficient approaches in teaching Economics is the Case Method. The Case Method combines two elements: the case itself and the discussion of that case. A teaching case is a rich narrative in which individuals or groups of individuals have to make a decision or solve a problem. A teaching case is not a case study of the type used in academic research, as it provides information, but neither analysis nor conclusions. During the classroom discussions, the students perf...
Full Text Available In the past, different methods for asset depreciation have been defined but most of these procedures deal with certain parameters and inputs. The availability of certain parameters in many real world situations is difficult and sometimes impossible. The primary objective of this paper is to obtain methods for calculating depreciation where some of the defined parameters are under uncertainty. Hence, by using the fuzzy science basics, extension principle and α-cut technique, we rewrite some classic methods for calculating depreciation in fuzzy form. Then, for comparing the methods of fuzzy depreciation under uncertain conditions by using the formula of calculating the Fuzzy Present worth (FPW, the Present worth of Tax saving (PWTS of any aforementioned methods has been obtained. Finally, since the amount of tax savings achieved for each of the methods is a fuzzy number, one of the fuzzy prioritization methods is used in order to select the best depreciation technique.
Falch, Morten; Tadayoni, Reza
While telecom markets have been liberalized, the institutional framework for spectrum management has largely remained unchanged. In particular, the process of allocation of the spectrum to different applications is still based on technical rather than economic criteria. This paper contrasts...... economic and technical approaches to frequency management, with an examination of spectrum management challenges and the current regulatory framework as the starting point. The benefits and limitations of the free market approach are discussed, and an economic evaluation of the Danish spectrum is used to...
Global environmental problems raise a host of major policy questions. They are all scientifically complex and controversial, and no scientific consensus is likely to emerge until irreversible decisions have been made. The costs and benefits of these changes transcend national boundaries, and nations, which cannot appropriate the global costs and benefits of such changes, are unlikely to be able or willing to make efficient decisions on how to combat these global externalities. In addition, these concerns sometimes have impacts over hundreds of years and thereby strain political decision making, which often functions effectively only when the crisis is at hand. This chapter considers some of the economic issues involved in deciding how to react to the threat of global warming. The author first reviews the theory and evidence on the greenhouse effect. He then presents evidence on the impacts of greenhouse warming, the costs of stabilizing climate, and the kinds of adaptations that might be available. In the final section, he reviews the policy initiatives that nations might follow in the near term
As a result of this research, the methodical approaches to comprehensive economic assessment of water resources are worked out. In particular, it is offered to conduct the comprehensive economic assessment in three stages. In the first stage, the economic assessment of water resources as the basis of human life is carried out. The result of this assessment is the monetary value of social and environmental significance of water resource of water body for human and the environment. The main met...
McHale, John; Rogers, Keith
There is growing international interest in a Canadian-style points system for selecting economic immigrants. Although existing points systems have been influenced by the human capital literature, the findings have traditionally been incorporated in an ad hoc way. This paper explores a formal method for designing a points system based on a human capital earnings regression for predicting immigrant economic success. The method is implemented for Canada using the IMDB, a remarkable longitudinal ...
This book examines the application of artificial intelligence methods to model economic data. It addresses causality and proposes new frameworks for dealing with this issue. It also applies evolutionary computing to model evolving economic environments.
The environmental economic cost-benefit analysis is discussed in this essay, including identification and screening qualification of impact factor, the calculation and impact of economic cost-benefit. This method is concise and feasible from a real case.%建设项目环境影响评价工作中的环境经济损益分析通常采用费用——效益法。本文对影响因子的类型及其量化方法、经济损益计算方法及经济损益评价方法进行了深入地探讨，实例分析说明这套方法操作简明，行之有效。
Full Text Available Article deals with category of time from economic point of view. Dependence of economic systems from economic time is analyzed. Based on analysis of economic time definition its features are improved.
The paper is directed at selecting an economic method for transporting tailings from existing locations to final disposal sites. The method of transportation chosen will depend on the quantity of tailings, the terrain and the distance to be transported. This paper outlines the methods for transporting tailings by truck, rail, conveyor, tram, and slurry pipeline and discusses the advantages and disadvantages of each method. Emphasis is placed on uranium tailings disposal. The paper provides economic data and recommendations that may be used for selection of a system for a particular situation. Finally, general conclusions are reached relating the characteristics of a system with economic alternatives for transporting the material
Environmental economics postulates the assumption of homo economicus and presumes that externality occurs as a result of the rational economic activities of economic agents. This paper examines this assumption using an experimental economic approach in the context of regime shift, which has been receiving increasing attention. We observe that when externality does not exist, economic agents (subjects of experimemt) act economically rationally, but when externality exists, economic agents avoi...
The main objective of this thesis is a comprehensive assessment of the practical usability and effectiveness of modern activating teaching methods in economic subjects in fulfilling the RVP economics and business and RVP Business Academy in comparison with traditional (standard) methods. To achieve this goal, a systematic clarification and evaluation of key elements of the choice of adequate methods of teaching, presentation and comparison of traditional, modern activating and comprehensive t...
Yan, T.; Shih, J.; Sanchirico, J. N.
Although groundwater accounts for about 20% of the water consumption in the US, recent urban development, land use changes and agricultural activities in many regions (for example, Chesapeake Bay and eastern shore of Maryland) have resulted in deleterious impacts on groundwater quality. These impacts have dramatically increased potential human health and ecological system risks. One example is nitrogen pollution delivered to local waterways from septic systems via groundwater. Conventional approaches for nitrogen removal, such as pumping and treatment (nitrification-denitrification) process, tend to be expensive. On the other hand, economic incentive approaches (such as marketable permits) have the potential to increase the efficiency of environmental policy by reducing compliance costs for regulated entities and individuals and/or achieving otherwise uneconomical pollution reduction. The success of the sulfur dioxide trading market has led to the creation of trading markets for other pollutants, especially at the regional, state, and smaller (e.g. watershed) scales. In this paper, we develop an integrated framework, which includes a groundwater flow and transport model, and a conceptual management model. We apply this framework to a synthetic set up which includes one farm and two development areas in order to investigate the potential of using economic incentive approaches for groundwater quality management. The policy analysis is carried out by setting up the objective of the modeling framework to minimize the total cost of achieving groundwater quality goals at specific observation point using either a transferable development right (TDR) system between development areas and/or using a tax for fertilizer usage in the farm area. The TDR system consists of a planning agency delineating a region into restricted-use (e.g., agriculture, open space) and high intensity zones (e.g., residential, commercial uses). The agency then endows landowners in the restricted area
Experimental Economics provide a new set of tools in the tool box of the education economist. This paper review why experimental method may be useful to study how pupils behaviour, formed from their preference and beliefs, may influence their success or failure at school, what are its advantages and what are its limits. Behavioural Economics - Education - Public Policy
Averch, Harvey A.
This article reviews the principal methods economists and cost benefit analysts use in evaluating research. Two common approaches are surplus measures (combinations of consumer and producer surpluses) and productivity measures. Technical difficulties and political and organizational constraints are discussed for these measures. (SLD)
Turgut, Mehmet Burak
This paper studies the spatial economic activity in Turkey and estimates the correlation between wages and consumer demand across NUTS1 regions of Turkey. First, I estimate simple market potential function to test whether closeness to larger markets has impact on wages. Second, I estimate Krugman (1993) economic geography model to see the agglomeration forces in Turkey. The results suggest that wages are higher in the regions close to larger markets and low trade costs and high share of expen...
Originally, behavioral law and economics was an exercise in exploring the implications of key findings from behavioral economics (and psychology) for the analysis and reform of legal institutions. Yet as the new discipline matures, it increasingly replaces foreign evidence by fresh evidence, directly targeted to the legal research question. This chapter surveys the key methods: field evidence, survey data, vignette and lab experiment, discusses their pros and cons, illustrates them with key p...
Desplaces, David E.; Wergeles, Fred; McGuigan, Patrick
This article outlines the implementation of a service-learning approach in an entrepreneurship programme using an "economic gardening" strategy. Economic Gardening through Service-Learning (EGS-L) is an approach to economic development that helps local businesses and students grow through a facilitated learning process. Learning is made possible…
WANG Xiao-yan; CAO Li-ping
This paper mainly discusses the feasibility to establish economic policy systems for control and management of agricultural nonpoint source pollution in China. The current situation of serious agricultural nonpoint source pollution in China is described firstly. Based on the environmental policy and economics theories, the system of economic policies for control and management of agricultural nonpoint source pollution is designed in this paper. This system includes the policy objective, the designing principle and the methods. The key issues include pollution charge,inputs tax for restriction, subsides for induction and incentive, effluent trading for least cost reduction. The emphases are optimized on inputs tax and agricultural chemical tax permit under complete information, as well as sub-optimized inputs tax under incomplete information, subsides for farm due to positive and negative externality. The functions and suitability of the policies are also analyzed in the paper. According to the field experiment results and other relating economic data in watershed of the Chaohe River, Beijing, some economic approaches to reducing agricultural nonpoint source pollution are proposed. The main idea is to encourage and support the farmers to improve their farming way,and to implement the policy of castigating charge simultaneously. The feasibility of the policies are analyzed with consideration of economy, technology and institution. It is concluded that the economic policies are necessary and feasible.
Full Text Available The author substantiated necessity of detailed classification of economic risks, formulated principles, which should be considered in a process ofdevelopment of classifications. The author described characteristics, which may be used for creation of a classification of economic risks. Classificationsdeveloped by modern scientists are proposed. The author offers to reduce characterization of a risk to such positions as uncertainty,danger, losses, and probability. Construction of a detailed classification of risks enable to most thoroughly attack the problem of appearance offactors that contribute a risk and to research risks as a whole. Thus, further researches in this branch continue to be actual and necessary, especiallyfor a practical activity. Basing on a classification, each type of a risk can be thoroughly analyzed, modeled, separated into elements. Theseprocesses enable to decrease uncertainty of a situation, making an appropriate decision. The classifications of risks considered in the article enableto determine a position of each type of risks in their general system and also effectively use particular techniques and methods of minimizationand management of risks.
Clive L Spash; Mauricio G. Villena
A neglected aspect of ecological economics is the link to the social context. The socio-economic perspective extends standard economic analysis into concerns for distribution, ethics and the power of institutions which form and implement policy. We explore how an institutional perspective on ecological economics might operate and provide a distinct methodology. In order to understand the institutional approach and how it differs from the standard economic methodology a historical overview...
Ciani Scarnicci, Manuela
Amartya Sen (1933-) is one of the greatest scholars who studied the relationship between ethics and economics and was held the Nobel Economics Prize thanks to this. At the awarding of the Nobel prize, while talking about his studies, the motive was: “...has been highly instrumental in restoring an ethical dimension to economics and related disciplines”. Precisely the theories of this binomial taken from the work of A. Sen “Economics and Ethics” are the basis of this work. Thanks to A. Se...
Bergh, van den, E.; Gowdy, J.
Recent advances in evolutionary theory have important implications for environmental economics. A short overview is offered of evolutionarythinking in economics. Subsequently, major concepts and approaches inevolutionary biology and evolutionary economics are presented andcompared. Attention is devoted, among others, to Darwinian selection,punctuated equilibrium, sorting mechanisms, Lamarckian evolution,coevolution and self-organization. Basic features of evolution, such assustained change, i...
Full Text Available Abstract Background The economic benefits of healthcare research require study so that appropriate resources can be allocated to this research, particularly in developing countries. As a first step, we performed a systematic review to identify the methods used to assess the economic impact of healthcare research, and the outcomes. Method An electronic search was conducted in relevant databases using a combination of specific keywords. In addition, 21 relevant Web sites were identified. Results The initial search yielded 8,416 articles. After studying titles, abstracts, and full texts, 18 articles were included in the analysis. Eleven other reports were found on Web sites. We found that the outcomes assessed as healthcare research payback included direct cost-savings, cost reductions in healthcare delivery systems, benefits from commercial advancement, and outcomes associated with improved health status. Two methods were used to study healthcare research payback: macro-economic studies, which examine the relationship between research studies and economic outcome at the aggregated level, and case studies, which examine specific research projects to assess economic impact. Conclusions Our study shows that different methods and outcomes can be used to assess the economic impacts of healthcare research. There is no unique methodological approach for the economic evaluation of such research. In our systematic search we found no research that had evaluated the economic return of research in low and middle income countries. We therefore recommend a consensus on practical guidelines at international level on the basis of more comprehensive methodologies (such as Canadian Academic of Health Science and payback frameworks in order to build capacity, arrange for necessary informative infrastructures and promote necessary skills for economic evaluation studies.
The way the economic reality is observed is essential in order to determine decision-making of economic subjects. The picture of economic reality drawn by accounting can be said to be either the true and fair, or biased. If the latter is the case, how much does that bias translate into the quality of economic decision-making? In summary, the paper analyzes whether accounting should provide the fair and true view whether it does, and how it affects the economic behavior when it does not on bot...
Posner, Richard A
With the rise of the law and economics movement, the focus of economic analysis of intellectual property has begun to shift to more concrete and manageable issues concerning the structure and texture of the complicated pattern of common law and statutory doctrines, legal institutions and business practices relating to intellectual property. Among the issues discussed in this paper are the length of protection for intellectual property, the rules that allow considerable copying of intellectual...
Full Text Available Nowadays, more than ever, economic relations between states are the ones that define the general character of the relations between them and establish economic security as a concept which cannot be neglected anymore. Globalization, the process that shapes the international environment, undermines the old definition of economic security and forces its redefinition. The article aims to identify and analyse the effects of globalization on economic security and the new approaches it takes in this context.
Nowadays, more than ever, economic relations between states are the ones that define the general character of the relations between them and establish economic security as a concept which cannot be neglected anymore. Globalization, the process that shapes the international environment, undermines the old definition of economic security and forces its redefinition. The article aims to identify and analyse the effects of globalization on economic security and the new approaches it takes in this...
Full Text Available This paper introduces an expanding research frontier in the landscape architecture discipline, landscape performance research, which embraces the scientific dimension of landscape architecture through evidence-based designs that are anchored in quantitative performance assessment. Specifically, this paper summarizes metrics and methods for determining landscape-derived economic benefits that have been utilized in the Landscape Performance Series (LPS initiated by the Landscape Architecture Foundation. This paper identifies 24 metrics and 32 associated methods for the assessment of economic benefits found in 82 published case studies. Common issues arising through research in quantifying economic benefits for the LPS are discussed and the various approaches taken by researchers are clarified. The paper also provides an analysis of three case studies from the LPS that are representative of common research methods used to quantify economic benefits. The paper suggests that high(er levels of sustainability in the built environment require the integration of economic benefits into landscape performance assessment portfolios in order to forecast project success and reduce uncertainties. Therefore, evidence-based design approaches increase the scientific rigor of landscape architecture education and research, and elevate the status of the profession.
Dziubinski, Matt P.; Grassi, Stefano
This paper shows the potential of heterogeneous computing in solving dynamic equilibrium models in economics. We illustrate the power and simplicity of the C++ Accelerated Massive Parallelism recently introduced by Microsoft. Starting from the same exercise as Aldrich et al. (2011) we document a...
Dziubinski, Matt P.; Grassi, Stefano
This paper shows the potential of heterogeneous computing in solving dynamic equilibrium models in economics. We illustrate the power and simplicity of the C++ Accelerated Massive Parallelism recently introduced by Microsoft. Starting from the same exercise as Aldrich et al. (2011) we document a speed gain together with a simplified programming style that naturally enables parallelization.
Nuno Carlos LEITÃO
Full Text Available The relationship between financial development and economic growth has been studied long time in economics (Adam Smith and Schumpeter. Structural reforms and the integration of financial markets have been attracting the interest of the academic community. This manuscript examines the link between financial development and economic growth. The European Union Countries (EU-27, and BRIC (Brazil, Russia, India and China were examined, between 1980 and 2006. Using a static and dynamic panel data approach, the results demonstrate that the financial development contribute to economic growth. Our study also consider productivity and trade, these proxies confirm the positive effect on economic growth.
Dynamic economic dispatch (DED) is one of the important optimization problems in power system operation. This paper proposes Maclaurin series based Lagrangian method (MSL) to solve the DED problem for generating units with valve-point effect, considering the ramp-rate limits and spinning reserve constraint. Using Maclaurin series, the sine term used to model the valve-point effect is expanded and solved with Lagrangian method. The feasibility of the proposed method is validated with five unit test system for 24 h. Minute-by-minute dispatch for a large system with 40-units is also carried out in this work. Test results obtained with the proposed approach are compared with other techniques in the literature. The results obtained substantiate the applicability of the proposed method for solving dynamic economic dispatch problems with non-smooth cost functions.
""Quantitative Methods for Management and Economics"" is specially prepared for the MBA students in India and all over the world. It starts from the basics, such that even a beginner with out much mathematical sophistication can grasp the ideas and then comes forward to more complex and professional problems. Thus, both the ordinary students as well as ""above average: i.e., ""bright and sincere"" students would be benefited equally through this book.Since, most of the problems are solved or hints are given, students can do well within the short duration of the semesters of their busy course.
Meisam Karami; Shaghayegh Malekifar; Muhammad Siddique; Saif-Ur-Rehman Khan
Organizational change in Transitional economies is influenced by multiple political, historical and economic factors not present in established market economies. This study proposes an organizational economics approach to organizational change in emerging economies. Based on transaction cost economics and resource based view, the cost of change is proposed as a mediator of change and perceived commitment to transition is proposed as antecedents of cost of change for organizations in emerging ...
Full Text Available In article features of an economic approach are considered when developing the anti-corruption measures directed on restriction of possibilities of any discretion and excessive intervention of civil servants in economic activity, including through differentiation of functions and specification of competences. The special urgency of researches of a problem of corruption as special social phenomenon is noted.
Since the 1960s, the influence of economic thought on education has been steadily increasing. Taking Jean-Jacques Rousseau's educational thought as a point of departure, Tal Gilead critically inquires into the philosophical foundations of what can be termed the economic approach to education. Gilead's focus in this essay is on happiness and the…
Full Text Available Collapsed gully erosion constantly plagues the sustainability of rural areas in China. To control collapsed gully erosion, an ecological and economic approach, which uses tree plantation to gain economic benefits and control soil erosion, has been widely applied by local governments in Southern China. However, little is known about the economic feasibility of this new method. The objective of this study was to determine the effectiveness and economic benefits of the new method. Based on a case study in Changting County, Southeast China, two farms were selected to represent a timber tree plantation and a fruit tree plantation, respectively. The Annual Capital Capitalization Method and Return on Investment (ROI were selected to conduct cost-benefit analysis. In contrast to previous studies, we found that the new approach was far from economic. The value of the newly-built forestland in Sanzhou Village and Tufang Village is 2738 RMB ha−1 and 5477 RMB ha−1, respectively, which are extremely lower than the costs of ecological restoration. Meanwhile, the annual ROI is −3.60% and −8.90%, respectively, which is negative and also far poorer than the average value of forestry in China. The costs of conservation were substantially over the related economic benefits, and the investors would suffer from greater loss if they invested more in the conservation. Low-cost terraces with timber trees had less economic loss compared with the costly terraces with fruit tree plantation. Moreover, the cost efficiency of the new approaches in soil conservation was also greatly poorer than the conventional method. The costs of conserving one ton soil per year for conventional method, new method for planting timber trees, and planting fruit trees were 164 RMB, 696 RMB, and 11,664 RMB, respectively. Therefore, the new collapsed gully erosion control methods are uneconomic and unsuitable to be widely carried out in China in the near future.
Ion Gh. Rosca
Full Text Available Human society steps, with or without its willing, towards knowledge era which rises new exigencies for education and research. Universities are influenced and, in the same time, influence the new society. They define new duties, visions and aims according to the European common space organizing. New arguments appear as national priority, changes within concepts approaches are produced, universities adapt to new structures, integrate within education’s global market, ensuring a high level ofthe research and training services.
Ion Gh. Rosca
Full Text Available Human society steps, with or without its willing, towards knowledge era which rises new exigencies for education and research. Universities are influenced and, in the same time, influence the new society. They define new duties, visions and aims according to the European common space organizing. New arguments appear as national priority, changes within concepts approaches are produced, universities adapt to new structures, integrate within education’s global market, ensuring a high level of the research and training services.
Full Text Available The main aim of this paper is to attempt a theoretical delineation of a new econoscience now known as financial econometrics, which is as a result of a dual approach, one originally from economics to econometrics, followed by another one, articulate, from financial economics to financial econometrics, both purely theoretical, simultaneously stressing the importance of economic and financial modelling, historically detailing the emergence and development of this new econoscience, outlining its subject and objectives, and describing some of the most commonly used methods and models, while noting the presence of increasingly sharp competition of econophysics, sociophysics and economy quantum, in the universe of modelling the processes and phenomena in classical economics and financial economics.
Wang, Bin; Liu, Juanjuan; Wang, Shudong; Cheng, Wei; Juan, Liu; Liu, Chengsi; Xiao, Qingnong; Kuo, Ying-Hwa
Four-dimensional variational data assimilation (4DVar) is one of the most promising methods to provide optimal analysis for numerical weather prediction (NWP). Five national NWP centers in the world have successfully applied 4DVar methods in their global NWPs, thanks to the increment method and adjoint technique. However, the application of 4DVar is still limited by the computer resources available at many NWP centers and research institutes. It is essential, therefore, to further reduce the computational cost of 4DVar. Here, an economical approach to implement 4DVar is proposed, using the technique of dimensionreduced projection (DRP), which is called "DRP-4DVar." The proposed approach is based on dimension reduction using an ensemble of historical samples to define a subspace. It directly obtains an optimal solution in the reduced space by fitting observations with historical time series generated by the model to form consistent forecast states, and therefore does not require implementation of the adjoint of tangent linear approximation. To evaluate the performance of the DRP-4DVar on assimilating different types of mesoscale observations, some observing system simulation experiments are conducted using MM5 and a comparison is made between adjoint-based 4DVar and DRP-4DVar using a 6-hour assimilation window.
Full Text Available In this paper we discuss about effective method of research and education of Islamic economics through inter-disciplinary procedure. Nowadays this procedure in advance methodology of education in economics has been concentrated as “Focused Interest Group” (FIG. Although the purpose of positivist economists about FIG is related to profit-oriented of inter-disciplinary procedure, but in Islamic economics, this attitude has sustainable economic development, whereby secure and cover positive as well as normative approach of educational materials to help certain efficiency of knowledge. This procedure of education had been focused in Islamic literature, and also in holy Qur’an (12/108 & 39/17-18 before attention of western countries. Therefore, in this research, significant view of scholars, lecturers and researchers of Islamic economics, acquired through questioners, and the results of research has been analyzed. Achieving prerequisite and diversity connections of Islamic economics’ and its indispensable educational materials, help us to modeling an inter-disciplinary framework that it may mutate other human sciences structure.
Full Text Available The resolution of the environmental/economic dispatch (EED problem using the different methods which are proposed in literature consumes an important computing time. Thus, the present paper deals with a technique based on two steps to solve the EED problem of electric energy power in real-time for forecast load curve. The first step uses the NSGAII approach (Non-dominated Sorting Genetic Algorithm to solve the multi-objective problem MOP for different levels of load by treating the two cases, problem without line constraints and with line constraints. To verify effectiveness of this approach, NSGAII is compared with other algorithms which are used in the literature. Such as, weighted sum method (WSM, NPGA (Niched Pareto Genetic Algorithm, NSGA and SPEA (Strength Pareto Evolutionary Algorithm. To exploit the results in real time for forecast load curve, second step uses a radial basis function neural network (RBFN with 3 layers, input layer formed by the level of global load, hidden layer and output layer formed by the generations of the various machines. The validity and effectiveness of this technique are verified by an example of a load curve of a didactic electric network IEEE 30-bus system with 6-generating units.
This book takes the non-economist by the hand in a step-by-step economic approach of environmental issues and how to handle them. Two chapters provide an introduction to the concepts of the economy, chapter six in decision theory. In the first chapter, the economist discovers a broader vision by testing the economic approach to insights from other disciplines. Chapter 4 explains how economic reasoning can contribute tot environmental protection in practice. The consideration of the costs and benefits of environmental protection indicates objectives that must be pursued for the community. The conflict between private and public interest forces policy makers to get and maintain the numerous polluters focused on environmental protection. Suitable instruments are discussed in chapter five, including criteria for choice and an in-depth study of the economic instruments levies and tradable emission permits. The EU Emission trading Scheme is used as reference. [mk
Atkinson, Robert D.; Hackler, Darrene
In climate change, as in all policy issues, economic philosophy has a significant influence on how people view both the problems and the solutions. For the first time, ITIF surveys four dominant schools of economic thought and analyzes how adherents approach policy options for climate change and energy policy. With climate change and major energy legislation stalled, maybe it is time to put aside fixed philosophical notions and take a practical look on ways to address climate change in an eco...
This book presents a unified treatment of optimization theory, game theory and a general equilibrium theory in economics in the framework of nonlinear functional analysis. It not only provides powerful and versatile tools for solving specific problems in economics and the social sciences but also serves as a unifying theme in the mathematical theory of these subjects as well as in pure mathematics itself.
Power Economic Dispatch (ED) is vital and essential daily optimization procedure in the system operation. Present day large power generating units with multi-valves steam turbines exhibit a large variation in the input-output characteristic functions, thus non-convexity appears in the characteristic curves. Various mathematical and optimization techniques have been developed, applied to solve economic dispatch (ED) problem. Most of these are calculus-based optimization algorithms that are based on successive linearization and use the first and second order differentiations of objective function and its constraint equations as the search direction. They usually require heat input, power output characteristics of generators to be of monotonically increasing nature or of piecewise linearity. These simplifying assumptions result in an inaccurate dispatch. Genetic algorithms have used to solve the economic dispatch problem independently and in conjunction with other AI tools and mathematical programming approaches. Genetic algorithms have inherent ability to reach the global minimum region of search space in a short time, but then take longer time to converge the solution. GA based hybrid approaches get around this problem and produce encouraging results. This paper presents brief survey on hybrid approaches for economic dispatch, an architecture of extensible computational framework as common environment for conventional, genetic algorithm and hybrid approaches based solution for power economic dispatch, the implementation of three algorithms in the developed framework. The framework tested on standard test systems for its performance evaluation. (authors)
This paper discusses the need for changing priorities in plant life management. Following a brief review of the major world-wide trends which are affecting plant life management, the fundamental nature of the plant life management process itself is considered. It is suggested that a consistent approach to the management of economic and safety risk can provide a mechanism for continuous improvement of the process. One such approach, Techno-Economic Ageing and Maintenance Management - TEAMM, is described. The tool required for this process are discussed and examples given of its application to ageing plant and evaluation of life extension. 2 figs
An Integrated Approach to Economical, Reliable, Safe Nuclear Power Production is the latest evolution of a concept which originated with the Defense-in-Depth philosophy of the nuclear industry. As Defense-in-Depth provided a framework for viewing physical barriers and equipment redundancy, the Integrated Approach gives a framework for viewing nuclear power production in terms of functions and institutions. In the Integrated Approach, four plant Goals are defined (Normal Operation, Core and Plant Protection, Containment Integrity and Emergency Preparedness) with the attendant Functional and Institutional Classifications that support them. The Integrated Approach provides a systematic perspective that combines the economic objective of reliable power production with the safety objective of consistent, controlled plant operation
Full Text Available As a social science, economics cannot be reduced to simply an a priori science or an ideology. In addition economics cannot be solely an empirical or a historical science. Economics is a research field which studies only one dimension of human behavior, with the four fields of mathematics, econometrics, ethics and history intersecting one another. The purpose of this paper is to discuss the two parts of the proposition above, in connection with the controversies surrounding the method and the scope of economics: economics as an applied mathematics and economics as a predictive/empirical science.
Fernández, Francisco J.; Blanco, Maria
The economic effects of climate change on agriculture have been widely assessed in the last two decades. Many of these assessments are based on the integration of biophysical and agro-economic models, allowing to understand the physical and socio-economic responses of the agricultural sector to future climate change scenarios. The evolution of the bio-economic approach has gone through different stages. This review analyses its evolution: firstly, framing the bio-economic approach into the co...
The article formed the complex process of economic assessment of forest resources and given it's definition. A new approach to determining costs for locking the main types of forest. Allocated forestry (in Keywords: forest) and forest harvesting (in forest exploitation) rents.
Sequeira, Tiago Neves; Campos, Carla
On average, tourism-specialized countries grow more than others. This fact is inconsistent with economic theory as, in particular, endogenous growth theory suggests that economic growth is linked with: (1) sectors with high intensity in R&D and thus high productivity; (2) large scale. In this paper, we use panel data methods to go further in treating the endogeneity problem. In general and contrary to previous works, we conclude that tourism, on its own, cannot explain the higher growth rates...
The Economic Valuation of Patents provides an original and essential analysis of patent valuation, presenting the main methodologies to value patents in different contexts. Starting with an analysis of the relevance of patent valuation from a strategic, economic and legal perspective, the book undertakes a thorough review of the existing financial and qualitative valuation methodologies. The contributing authors, IP experts from academia and business, discuss the application of valuation issues in various contexts such as patent portfolio management, licensing agreements, IP litigation, IP-bac
In this paper we discuss about effective method of research and education of Islamic economics through inter-disciplinary procedure. Nowadays this procedure in advance methodology of education in economics has been concentrated as “Focused Interest Group” (FIG). Although the purpose of positivist economists about FIG is related to profit-oriented of inter-disciplinary procedure, but in Islamic economics, this attitude has sustainable economic development, whereby secure and cover positive ...
Full Text Available This paper addresses a special zone design problem for economic census investigators that is motivated by a real-world application. This paper presented a heuristic multikernel growth approach via Constrained Delaunay Triangulation (CDT. This approach not only solved the barriers problem but also dealt with the polygon data in zoning procedure. In addition, it uses a new heuristic method to speed up the zoning process greatly on the premise of the required quality of zoning. At last, two special instances for economic census were performed, highlighting the performance of this approach.
Lagerkvist, A.; Ecke, H.; Christensen, Thomas Højlund
is often narrowly defined to meet specific needs for information. This may however limit the general usefulness of the information gained, for example, if the specific purpose limited the characterization to a subset of variables. In general, data available in the solid waste area are limited and often...... with limited representation. This chapter describes common approaches and methods in waste characterization including common terms, sampling, characterization methods and data evaluation. The focus is on the characterization of waste as it is generated or collected, while specific issues on characterization...
Economic valuation of environmental attributes are pragmatic approach to evaluating the impacts and it helps decision makers to arrive at objective decisions on the basis of cost benefit ratio. For determining the physical impact and its quantification, four evaluation methods, namely-market price method, surrogate market price, survey based and cost based approaches are generally used. The present paper reviews the importance of environmental evaluation of impacts of mining and also reviews a few suitable methodologies that could be effectively used for economic evaluation of environmental impacts in open cast mining projects. (author)
Full Text Available In the past, philosophy of education and curriculum designing focused on specialization and single disciplinarity approach .But since the turn of the 20th century, by a vast literature of realizing real and new educational needs and competencies beyond a single discipline, and criticizing the limits of that narrow approach to the reality, defining integrated curriculum or non-disciplinarity approaches has been a topic of discussion .Over the last decades, theorists offered six basic categories for non-disciplinary works :Parallel Disciplinary Approach, Interdisciplinary Approach, Multi-Disciplinary Approach, Cross-Disciplinary Approach, Plural-Disciplinary Approach and Supra/Trans-Disciplinary Approach. Through these approaches, integration seemed to be a matter of degree and method from fundamentally different starting points. Economics also is essentially an integrated discipline from different social sciences, mathematics, economic subjects, knowledge and ideas, and even methodology of natural sciences, and inevitably, its curriculum, educational programs and courses can not be designed unless benefited from these literature and approaches in the curriculum designing subject area. The present article briefly defines the non-disciplinarity approaches and shows their implications, applications and theoretical capacity in designing different possible curriculum and graduate educational courses in Economics.
Dewachter, Hans; Lyrio, M.
We adapt Brandt's (1999) nonparametric approach to determine the optimal portfolio choice of a risk averse foreign exchange investor who uses moving average trading signals as the information instrument for investment opportunities. Additionally, we assess the economic value of the estimated optimal trading rules based on the investor's preferences. The approach consists of a conditional generalized method of moments (GMM) applied to the conditional Euler optimality conditions. The method pre...
Hans Dewachter; Marco Lyrio
We adapt Brandt's (1999) nonparametric approach to determine the optimal portfolio choice of a risk averse foreign exchange investor who uses moving average trading signals as the information instrument for investment opportunities. Additionally, we assess the economic value of the estimated optimal trading rules based on the investor's preferences. The approach consists of a conditional generalized method of moments (GMM) applied to the conditional Euler optimality conditions. The method pre...
Recently previous works have shown that multilateral nuclear fuel cycle approach has benefits not only of non-proliferation but also of cost effectiveness. This is because for most facilities in nuclear fuel cycle, there exist economies of scale, which has a significant impact on the costs of nuclear fuel cycle. Therefore, the evaluation of economic rationality is required as one of the evaluation factors for the multilateral nuclear fuel cycle approach. In this study, we consider some options with respect to multilateral approaches to nuclear fuel cycle in Asian-Pacific region countries that are proposed by the University of Tokyo. In particular, the following factors are embedded into each type: A) no involvement of assurance of services, B) provision of assurance of services including construction of new facility, without transfer of ownership, and C) provision of assurance of service including construction of new joint facilities with ownership transfer of facilities to multilateral nuclear fuel cycle approach. We show the overnight costs taking into account install and operation of nuclear fuel cycle facilities for each option. The economic parameter values such as uranium price, scale factor, and market output expansion influences the total cost for each option. Thus, we show how these parameter values and economic risks affect the total overnight costs for each option. Additionally, the international facilities could increase the risk of transportation for nuclear material compared to national facilities. We discuss the potential effects of this transportation risk on the costs for each option. (author)
The paper proposes to ground the taxonomy of economic systems on the identification of strongly performative institutions as distinctive features. I analyse performativity on the basis of the Aoki model of institutions, enriched by current approaches to performativity, which I combine with Searle's notion of a status function. Performativity is conceived as resulting from the conjunction of public representations (sign systems) and behavioral dispositions which channel strategic interactions ...
George E. HALKOS
Full Text Available Abstract. This paper presents, in brief, the fundamentals of optimal control theory together with some notes for differential games, which is the game theoretic analogue of the optimal control. As it is recommended by literature references the main tool of analysis in open loop information structure for environmental models is the Pontryagin’s Maximum Principle, while the Hamilton–Jacobi–Bellman equation is the tool of analysis for any closed loop informational structure. As applications of the above theoretic considerations we present some environmental economic models which are solved both as optimal control problems and as differential games as well.Keywords. Optimal control; Differential games; Renewable resources; Environnemental and Resource Economies.JEL. C61; C62; D43; Q0; Q2; Q20; Q50; Q52; Q53.
Luis M. Abadie
Full Text Available This paper deals with the economics of gasification facilities in general and IGCC power plants in particular. Regarding the prospects of these systems, passing the technological test is one thing, passing the economic test can be quite another. In this respect, traditional valuations assume constant input and/or output prices. Since this is hardly realistic, we allow for uncertainty in prices. We naturally look at the markets where many of the products involved are regularly traded. Futures markets on commodities are particularly useful for valuing uncertain future cash flows. Thus, revenues and variable costs can be assessed by means of sound financial concepts and actual market data. On the other hand, these complex systems provide a number of flexibility options (e.g., to choose among several inputs, outputs, modes of operation, etc.. Typically, flexibility contributes significantly to the overall value of real assets. Indeed, maximization of the asset value requires the optimal exercise of any flexibility option available. Yet the economic value of flexibility is elusive, the more so under (price uncertainty. And the right choice of input fuels and/or output products is a main concern for the facility managers. As a particular application, we deal with the valuation of input flexibility. We follow the Real Options approach. In addition to economic variables, we also address technical and environmental issues such as energy efficiency, utility performance characteristics and missions (note that carbon constraints are looming. Lastly, a brief introduction to some stochastic processes suitable for valuation purposes is provided.
This article argues that the relatively new field of personnel economics (PE) holds strong potential as a tool for studying public sector workforces. This subfield of labor economics is based on a strong foundation of microeconomics, which provides a robust theoretical foundation for studying workforce and organizational design issues. PE has evolved on this foundation to a strong practical emphasis, with theoretical insights designed for practical use and with strong focus on empirical research. The field is also characterized by creative data entrepreneurship. The types of datasets that personnel economists use are described. If similar datasets can be obtained for public sector workforces, PE should be a very useful approach for studying them. PMID:19829236
Prasanna, P.H.S.N.; L H P Gunaratne; Withana, W.D.R.S.
Post-harvest losses of paddy in Sri Lanka are as high as 15 percent of total production. Of this, about 24 percent of losses occur during the threshing and cleaning stage with tractor treading being the most common paddy threshing method. In order to overcome these deficiencies, recently small and combined threshers have been introduced. This study attempted to determine the efficiency of different paddy threshing methods, and to estimate the profitability of small and combined thresher owner...
Timchuk Boris S.
The article deals with the essence of economic policy as a science, analyzes the two-century transformation of the economic policy, offers a versatile approach to determination of the economic policy in the New economy.
Full Text Available In the article, the need of transition to the rational subsoil use (the alternative mining approach is proved, which unlike general one supposes the increasing of extraction rate of valuable components in the deposit and multiple use of raw materials, the maximizing recycling, the decreasing of land occupation, the increasing of the development period of deposit at some income decrease up to the moderate level, which is enough to provide the attraction for investors. The multicriteriality is considered as the crucial principle of rational subsoil use at taking management decisions, i.e. the considering of ecological, economic and social targets, aimed at receiving moderate profit at proper social and environmental standards. The graphic representation of models of the general mining approach and the alternative one allows to emphasize the specified advantages of transition to rational subsoil resources development and reflect them in design equation. In the paper, three performance strategies providing the implementation of the alternative approach are offered: full-field development, application ecologically and economically effective systems and the development processes, consideration of reclamation and minimization of long term environmental effects of mining
The Environmental Protection Agency (EPA) has evaluated the costs and benefits of alternative disposal technologies as part of its program to develop generally applicable environmental standards for the land disposal of low-level radioactive waste (LLW). Costs, population health effects and Critical Population Group (CPG) exposures resulting from alternative waste treatment and disposal methods were developed and input into the analysis. The cost-effectiveness analysis took into account a number of waste streams, hydrogeologic and climatic region settings, and waste treatment and disposal methods. Total costs of each level of a standard included costs for packaging, processing, transportation, and burial of waste. Benefits are defined in terms of reductions in the general population health risk (expected fatal cancers and genetic effects) evaluated over 10,000 years. A cost-effectiveness ratio, was calculated for each alternative standard. This paper describes the alternatives considered and preliminary results of the cost-effectiveness analysis
The Environmental Protection Agency (EPA) has evaluated the costs and benefits of alternative disposal technologies as part of its program to develop generally applicable environmental standards for the land disposal of low-level radioactive waste (LLW). Costs, population health effects and Critical Population Group (CPG) exposures resulting from alternative waste treatment and disposal methods were evaluated both in absolute terms and also relative to a base case (current practice). Incremental costs of the standard included costs for packaging, processing, transportation, and burial of waste. Benefits are defined in terms of reductions in the general population health risk (expected fatal cancers and genetic effects) evaluated over 10,000 years. A cost-effectiveness ratio, defined as the incremental cost per avoided health effect, was calculated for each alternative standard. The cost-effectiveness analysis took into account a number of waste streams, hydrogeologic and climatic region settings, and waste treatment and disposal methods. This paper describes the alternatives considered and preliminary results of the cost-effectiveness analysis. 15 references, 7 figures, 3 tables
Dalmas, Laurent; Geronimi, Vincent; Noël, Jean-François; Tsang King Sang, Jessy
Publications associées : - Michel VERNIERES (coord.), Valéry PATIN, Christine MENGIN, Vincent GERONIMI, Laurent DALMAS, Jean-François NOEL, Jessy TSANG KING SANG, Méthodologies d'évaluation économique du patrimoine urbain : une approche par la soutenabilité, Paris, AFD, coll. A savoir 13, mai 2012, 213 p. (ISSN : 2105-553 X) - Michel VERNIERES (coord.), Valéry PATIN, Christine MENGIN, Vincent GERONIMI, Laurent DALMAS, Jean-François NOEL, Jessy TSANG KING SANG, Methods for the Economic Valuati...
This paper deals with the economics of gasification facilities in general and Integrated Gasification Combined Cycle (IGCC) power plants in particular. Regarding the prospects of these systems, passing the technological test is one thing, passing the economic test can be quite another. In this respect, traditional valuations assume constant input and/or output prices. Since this is hardly realistic, we allow for uncertainty in prices. We naturally look at the markets where many of the products involved are regularly traded. Futures markets on commodities are particularly useful for valuing uncertain future cash flows. Thus, revenues and variable costs can be assessed by means of sound financial concepts and actual market data. On the other hand, these complex systems provide a number of flexibility options (e.g., to choose among several inputs, outputs, modes of operation, etc.). Typically, flexibility contributes significantly to the overall value of real assets. Indeed, maximization of the asset value requires the optimal exercise of any flexibility option available. Yet the economic value of flexibility is elusive, the more so under (price) uncertainty. And the right choice of input fuels and/or output products is a main concern for the facility managers. As a particular application, we deal with the valuation of input flexibility. We follow the Real Options approach. In addition to economic variables, we also address technical and environmental issues such as energy efficiency, utility performance characteristics and emissions (note that carbon constraints are looming). Lastly, a brief introduction to some stochastic processes suitable for valuation purposes is provided. (author)
Levina R. S.
This article emphasizes the need to develop methodologies through applying valid economic knowledge within research approaches used in writing final and PhD theses in order to apply this knowledge in the development of entrepreneurship in the context of model approaches. The proposed methodological approach in the field of economic education contributes to the training of highly qualified specialists in economics.
Élodie Brahic and Jean-Philippe Terreaux
Full Text Available For optimum and effective forest management, determining the economic value of the elements making up biodiversity is necessary but difficult. Methods to facilitate the task do exist.We present here the outline of the book written by Brahic and Terreaux (2009 addressing economic valuation of forest biodiversity, useful if not essential to the efficient management of forests, but which can lead to various methodological problems. The objective is to help public and private forest managers in choosing the economic valuation method best suited to the aspect of biodiversity addressed, to put difficulties into perspective and possibly find solutions for them.
Full Text Available Modern society is characterised not only by a fascination with scientific technology as a means of solving all problems, especially those that stand in the way of material progress (technicism, but also by an obsessive interest in everything that has to do with money (economism or mammonism. The article discusses the relationship between technicism and economism, on the basis of their relationship to utilitarian thinking: the quest for the greatest happiness for the greatest number of people. Recent major studies of neo-liberalism (seen as an intensification of utilitarianism by Laval and Dardot are used as reference to the development of utilitarianism. It is suggested that the western view of the world, as expressed in economism and technicism, with a utilitarian ethics, features three absolutisations: those of theoretical thinking, technology and economics. In a second part, the article draws on the framework of reformational philosophy to suggest an approach that, in principle, is not marred by such absolutisations.
Dmytro Stechenko; Olga Omelchenko
The approach to the restructuring of engineering enterprises on the basis of economic and mathematical models complex and scenarios for its implementation are given in the article. The structure and features of the formation of organizational restructuring and economic provision are described. The components of economic and mathematical methods of restructuring are considered: a general model of restructuring, that determines the design of its planning, development and implementation; the ove...
Orlov A. I.
For strategic and operational management tasks in the aerospace industry we use a variety of organizational-economic models and methods. Their set is called an organizational-economic support. In this article we discuss the approaches to the development of adequate organizational-economic support in the aerospace industry. In particular, we consider the problems of estimation of the effectiveness and management of innovation-investment projects to create aviation and space technology
Orlov A. I.
Full Text Available For strategic and operational management tasks in the aerospace industry we use a variety of organizational-economic models and methods. Their set is called an organizational-economic support. In this article we discuss the approaches to the development of adequate organizational-economic support in the aerospace industry. In particular, we consider the problems of estimation of the effectiveness and management of innovation-investment projects to create aviation and space technology
Highlights: • Exploitation of medium to low temperature geothermal sources: ORC power plants. • Integrated energetic and economic approach for the analysis of geothermal power plants. • A brief overview of the cost items of geothermal power plants. • Analysis of specific cost of geothermal power plants based on the method proposed. • Analysis of sustainability of geothermal energy systems based on resource durability. - Abstract: The perspectives of future development of geothermal power plants, mainly of small size for the exploitation of medium–low temperature reservoirs, are discussed and analyzed in the present paper. Even if there is a general interest in new power plants and investments in this sector are recognized, the new installations are reduced; the apparent advantage of null cost of the energy source is negatively balanced by the high drilling and installation costs. A key element for the design of a geothermal plant for medium temperature geothermal source is the definition of the power of the plant (size): this is important in order to define not only the economic plan but also the durability of the reservoir. Considering that it is not possible that the development of geothermal industry could be driven only by an economic perspective, the authors propose a method for joining energetic and economic approaches. The result of the combined energetic and economic analysis is interesting particularly in case of Organic Rankine Cycle (ORC) power plants in order to define a suitable and optimal size and to maximize the resource durability. The method is illustrated with reference to some particular case studies, showing that the sustainability of small size geothermal plants will be approached only if the research for more economic solutions will be combined with efforts in direction of efficiency increase
Abel, Kathleen A.
Abstract: The complexity of environmental, social, economical, and technological objectives creates a challenge for decision makers when prioritizing the right measures that will move a project or organization toward sustainability at least cost. Currently there are methods or tools available to assist in this decision making and through a strategic approach potentially enhance the process. The focus of this thesis is to evaluate how the quantitative nature of economic detail as a tool which ...
Full Text Available The paper studies the categorical-conceptual apparatus of risk and its refinement based on a critical analysis of existing systematic scientific approaches. Determined that in the refinement of the economic nature of the risk of a number of controversial issues: the definition of the objective or subjective nature of risk; matching of concepts such as «risk», «danger», «loss», «probability of loss»; definition of negative or positive consequences of risk; identification of risk with its consequences, or source of origin, which makes the relevance of research topics. As a result of scientific research has been refined interpretation of risk as an economic category, the characteristics of the company associated with the probability of unforeseen situations that may lead to negative and positive impacts, assessment of which requires the development of alternatives for management decisions. Clarification of the definition focuses on the possibility (probability of a favorable (unfavorable events which require certain corrective action management unit of the enterprise. The author emphasizes the mandatory features of the category of «risk», in particular: the concept of risk is always associated with the uncertainty of the future; event occurring has implications for the enterprise (both negative and positive; consequences for necessitates the development of a number of alternative solutions to the possible elimination of the negative consequences of risky events; risk – a mandatory attribute of modern management (its value is enhanced in terms of market conditions; subject to risk assessment and management by the company. Dedicated and updated features contribute to the clarification of the nature of the economic risk and categorical conceptual apparatus of risk management.
This viewgraph presentation reviews various methods of decision making and the impact that they have on space economics and systems engineering. Some of the methods discussed are: Present Value and Internal Rate of Return (IRR); Cost-Benefit Analysis; Real Options; Cost-Effectiveness Analysis; Cost-Utility Analysis; Multi-Attribute Utility Theory (MAUT); and Analytic Hierarchy Process (AHP).
David S Cobden
Full Text Available David S Cobden1, Louis W Niessen2, Frans FH Rutten1, W Ken Redekop11Department of Health Policy and Management, Section of Health Economics – Medical Technology Assessment (HE-MTA, Erasmus MC, Erasmus University Rotterdam, The Netherlands; 2Department of International Health, Johns Hopkins University School of Public Health, Johns Hopkins Medical Institutions, Baltimore, MD, USAAims: While strong correlations exist between medication adherence and health economic outcomes in type 2 diabetes, current economic analyses do not adequately consider them. We propose a new approach to incorporate adherence in cost-effectiveness analysis.Methods: We describe a theoretical approach to incorporating the effect of adherence when estimating the long-term costs and effectiveness of an antidiabetic medication. This approach was applied in a Markov model which includes common diabetic health states. We compared two treatments using hypothetical patient cohorts: injectable insulin (IDM and oral (OAD medications. Two analyses were performed, one which ignored adherence (analysis 1 and one which incorporated it (analysis 2. Results from the two analyses were then compared to explore the extent to which adherence may impact incremental cost-effectiveness ratios.Results: In both analyses, IDM was more costly and more effective than OAD. When adherence was ignored, IDM generated an incremental cost-effectiveness of $12,097 per quality-adjusted life-year (QALY gained versus OAD. Incorporation of adherence resulted in a slightly higher ratio ($16,241/QALY. This increase was primarily due to better adherence with OAD than with IDM, and the higher direct medical costs for IDM.Conclusions: Incorporating medication adherence into economic analyses can meaningfully influence the estimated cost-effectiveness of type 2 diabetes treatments, and should therefore be considered in health care decision-making. Future work on the impact of adherence on health economic
Élodie Brahic and Jean-Philippe Terreaux
For optimum and effective forest management, determining the economic value of the elements making up biodiversity is necessary but difficult. Methods to facilitate the task do exist.We present here the outline of the book written by Brahic and Terreaux (2009) addressing economic valuation of forest biodiversity, useful if not essential to the efficient management of forests, but which can lead to various methodological problems. The objective is to help public and private forest managers in ...
Gheorghe Săvoiu; Constantin Manea
The main aim of this paper is to attempt a theoretical delineation of a new econoscience now known as financial econometrics, which is as a result of a dual approach, one originally from economics to econometrics, followed by another one, articulate, from financial economics to financial econometrics, both purely theoretical, simultaneously stressing the importance of economic and financial modelling, historically detailing the emergence and development of this new econoscience, outlining its...
Full Text Available Abstract Background Provision of evidence on costs alongside evidence on the effects of interventions can enhance the relevance of systematic reviews to decision-making. However, patterns of use of economics methods alongside systematic review remain unclear. Reviews of evidence on the effects of interventions are published by both the Cochrane and Campbell Collaborations. Although it is not a requirement that Cochrane or Campbell Reviews should consider economic aspects of interventions, many do. This study aims to explore and describe approaches to incorporating economics methods in a selection of Cochrane systematic reviews in the area of health promotion and public health, to help inform development of methodological guidance on economics for reviewers. Methods The Cochrane Database of Systematic Reviews was searched using a search strategy for potential economic evaluation studies. We included current Cochrane reviews and review protocols retrieved using the search that are also identified as relevant to health promotion or public health topics. A reviewer extracted data which describe the economics components of included reviews. Extracted data were summarised in tables and analysed qualitatively. Results Twenty-one completed Cochrane reviews and seven review protocols met inclusion criteria. None incorporate formal economic evaluation methods. Ten completed reviews explicitly aim to incorporate economics studies and data. There is a lack of transparent reporting of methods underpinning the incorporation of economics studies and data. Some reviews are likely to exclude useful economics studies and data due to a failure to incorporate search strategies tailored to the retrieval of such data or use of key specialist databases, and application of inclusion criteria designed for effectiveness studies. Conclusion There is a need for consistency and transparency in the reporting and conduct of the economics components of Cochrane reviews, as
Dr. Anastasios Alexandridis
Full Text Available The analysis of international policy co-ordination has been a major growth area within macroeconomics for the past twenty years. It has, however, developed in a confused way, combining approaches from a number of areas of economic theory and being forced to confront the gap between that theory and international political economy. At the same time, basic approaches to the desirability of increased co-ordination often remain embedded in the original attitudes of participants towards domestic macroeconomic policy. This relates most obviously to issues such as the desirability of government management of the economy and the nature of the exchange rate system. The result has been that we now have an increasingly well-developed, highly technical body of literature which, with some interesting exceptions, supports the idea of increased international macroeconomic policy co-ordination, while remaining cautious about the size of the gains which will come from it. At the same time, uncertainty remains over the precise meaning of several of the terms used in the field and, more importantly, over the interpretation of the outcomes of international conferences and the actions of governments. This latter uncertainty relates not just to the likely consequences of policy actions but even to the motives for them. It is this contrast between the smooth surface of theory and the unevenness of historical events which we wish to capture here
Full Text Available To gain a greater understanding of the spatial spillover effect of greenhouse gas emissions and their influencing factors, this paper provides a spatial analysis of four gas pollutants (CO2 emissions, SO2 emissions, NOx emissions, and dust emissions. Focusing on China, the paper also explores whether the four gas pollutants are influenced by the emissions of neighboring regions and other possible sources. The paper uses a global spatial autocorrelation analysis, local spatial association analysis and spatial lag model for empirical work. The results suggest that CO2, SO2, and NOx emissions show significant positive results for both the spatial correlation and space cluster effect in provincial space distribution.CO2 and NOx emissions have a significant positive spillover effect, while the SO2 emissions’ spatial spillover effect is positive but not significant. Economic growth and urbanization are the key determinants of CO2, dust, and NOx emissions, while energy efficiency and industrialization do not appear to play a role. This raises questions about the method of examining the spatial relationship between gas pollution, economic growth and urbanization in the future.
Hughes, Dyfrig; Charles, Joanna; Dawoud, Dalia; Edwards, Rhiannon Tudor; Holmes, Emily; Jones, Carys; Parham, Paul; Plumpton, Catrin; Ridyard, Colin; Lloyd-Williams, Huw; Wood, Eifiona; Yeo, Seow Tien
Trial-based economic evaluations are an important aspect of health technology assessment. The availability of patient-level data coupled with unbiased estimates of clinical outcomes means that randomised controlled trials are effective vehicles for the generation of economic data. However there are methodological challenges to trial-based evaluations, including the collection of reliable data on resource use and cost, choice of health outcome measure, calculating minimally important differences, dealing with missing data, extrapolating outcomes and costs over time and the analysis of multinational trials. This review focuses on the state of the art of selective elements regarding the design, conduct, analysis and reporting of trial-based economic evaluations. The limitations of existing approaches are detailed and novel methods introduced. The review is internationally relevant but with a focus towards practice in the UK. PMID:26753558
Kyer, Ben L.; Maggs, Gary E.
Contends that supply-side economics has generated a long-standing debate in both academic and political circles. Discusses the concepts of supply-side economics and how it is represented by the Laffer Curve. Illustrates the use of graphic analysis of tax rates and revenue to show the Laffer effect and supply-side economics. (CFR)
Full Text Available A different intermodal transportation model based on cost analysis considering technical, economical, and operational parameters is presented. The model consists of such intermodal modes as sea-road, sea-railway, road-railway, and multimode of sea-road-railway. A case study of cargo transportation has been carried out by using the suggested model. Then, the single road transportation mode has been compared to intermodal modes in terms of transportation costs. This comparison takes into account the external costs of intermodal transportation. The research reveals that, in the short distance transportation, single transportation modes always tend to be advantageous. As the transportation distance gets longer, intermodal transportation advantages begin to be effective on the costs. In addition, the proposed method in this study leads to determining the fleet size and capacity for transportation and the appropriate transportation mode.
Full Text Available Economic Informatics originates in the industry economy and the electronic processing of information. A clear distinction is made between IT and economic informatics, and further between general and particular economic informatics (the particular economic informatics meaning administration, industrial informatics etc. Economic informatics is deemed to be an applicative science relating to the conception, working modality and representation of IT and communication systems, oriented towards companies which are using electronic computers. This paper pursues to integrate applications allowing the information systems to interconnect at informational level, by information sharing, and at service level, considering the control of the related processes in real time.
Nicolai J. Foss
Full Text Available As the transaction cost theory of the firm was taking shape in the 1970s, another important movement in economics was emerging: a revival of the ‘Austrian’ tradition in economic theory associated with such economists as Ludwig von Mises and F. A. Hayek (1973; Dolan, 1976; Spadaro, 1978. As Oliver Williamson has pointed out, Austrian economics is among the diverse sources for transaction cost economics. In particular, Williamson frequently cites Hayek (e.g., Williamson, 1985, p. 8; 1991, p. 162, particularly Hayek’s emphasis on adaptation as a key problem of economic organisation (Hayek, 1945. Following Williamson’s lead, a reference to Hayek’s ‘The Use of Knowledge in Society’ (Hayek, 1945 has become almost mandatory in discussions of economic organisation (e.g., Ricketts, 1987, p. 59; Milgrom and Roberts, 1992, p. 56; Douma and Schreuder 1991, p. 9. However, there are many other potential links between Austrian and transaction cost economics that have not been explored closely and exploited.This article argues that characteristically Austrian ideas about property, entrepreneurship, economic calculation, tacit knowledge, and the temporal structure of capital have important implications for theories of economic organisation, transaction cost economics in particular. Austrian economists have not, however, devoted substantial attention to the theory of the firm, preferring to focus on business-cycle theory, welfare economics, political economy, comparative economic systems, and other areas. Until recently the theory of the firm was an almost completely neglected area in Austrian economics, but over the last decade, a small Austrian literature on the firm has emerged. While these works cover a wide variety of theoretical and applied topics, their authors share the view that Austrian insights have something to offer students of firm organisation.
Bayerstadler, Andreas; Benstetter, Franz; Heumann, Christian; Winter, Fabian
Predictive Modeling (PM) techniques are gaining importance in the worldwide health insurance business. Modern PM methods are used for customer relationship management, risk evaluation or medical management. This article illustrates a PM approach that enables the economic potential of (cost-) effective disease management programs (DMPs) to be fully exploited by optimized candidate selection as an example of successful data-driven business management. The approach is based on a Generalized Linear Model (GLM) that is easy to apply for health insurance companies. By means of a small portfolio from an emerging country, we show that our GLM approach is stable compared to more sophisticated regression techniques in spite of the difficult data environment. Additionally, we demonstrate for this example of a setting that our model can compete with the expensive solutions offered by professional PM vendors and outperforms non-predictive standard approaches for DMP selection commonly used in the market. PMID:23780751
The environmental/economic dispatch (EED) is an important daily optimization task in the operation of many power systems. It involves the simultaneous optimization of fuel cost and emission objectives which are conflicting ones. The EED problem can be formulated as a large-scale highly constrained nonlinear multiobjective optimization problem. In recent years, many metaheuristic optimization approaches have been reported in the literature to solve the multiobjective EED. In terms of metaheuristics, recently, scatter search approaches are receiving increasing attention, because of their potential to effectively explore a wide range of complex optimization problems. This paper proposes an improved scatter search (ISS) to deal with multiobjective EED problems based on concepts of Pareto dominance and crowding distance and a new scheme for the combination method. In this paper, we have considered the standard IEEE (Institute of Electrical and Electronics Engineers) 30-bus system with 6-generators and the results obtained by proposed ISS algorithm are compared with the other recently reported results in the literature. Simulation results demonstrate that the proposed ISS algorithm is a capable candidate in solving the multiobjective EED problems. - Highlights: ► Economic dispatch. ► We solve the environmental/economic economic power dispatch problem with scatter search. ► Multiobjective scatter search can effectively improve the global search ability
Mosab I. Tabash; Raj S. Dhankar
This paper explores empirically the relationship between the development of Islamic finance system and economic growth and its direction in Qatar. Using econometric analysis, annually time-series data of economic growth and Islamic banks’ financing from 1990 to 2008 were used. We use Islamic banks’ financing funds given by Islamic banks as a proxy for the development of Islamic finance system and Gross Domestic Product (GDP), and Gross Fixed Capital Formation (GFCF) as proxies for real econom...
Moreno-Cruz, Juan; Taylor, M. Scott
This paper sets out a simple spatial model of energy exploitation to ask how the location and productivity of energy resources may affect the distribution of economic activity around the globe. This is a very large research question, and we take one small step towards answering it by combining elements from resource and energy economics into one framework that links the spatial productivity of energy sources (both renewable and non-renewable) to the incentives for economic activity to concent...
Halkos, George; Tzeremes, Nickolaos
This paper by using Data Envelopment Analysis (DEA) and statistical inference evaluates the citation performance of 229 economic journals. The paper categorizes the journals into four main categories (A to D) based on their efficiency levels. The results are then compared to the 27 “core economic journals” as introduced by Dimond (1989). The results reveal that after more than twenty years Diamonds’ list of “core economic journals” is still valid. Finally, for the first time the paper uses da...
There were two principle objectives in this thesis: a theoretical and a practical one. The theoretical aim was related to the comparison of two most-widely used business valuation methods, Discounted Cash Flow (DCF) and Economic Value Added (EVA). By comparing the two methods the author gave a recommendation which valuation approach would be more applicable in small entities and their appraisal processes. The practical objective referred to the actual valuation of the Client Company with the ...
Beylot, Antoine; Boitier, Baptiste; Lancesseur, Nicolas; Villeneuve, Jacques
In a context of waste management policies aimed at promoting waste prevention and recycling and, conversely, reducing waste landfilling, this study investigates how waste is generated and treated in a consumption perspective. A Waste Input-Output Analysis is implemented that considers 14 waste fractions and four waste management techniques. Input-Output Tables extended to wastes are initially compiled for the year 2008 considering France and five of its main import suppliers, and further completed with data on waste treatment. Wastes from economic activities are accordingly reallocated to the product categories of household consumption that induce their production. In particular, considering five waste categories (dry recyclable wastes, mixed wastes, mineral wastes, organic wastes, and total wastes) as an aggregation of the 14 waste fractions studied, the ten product categories with the highest contribution account for 64-86% of the total generation of wastes. Waste intensity and volume of expenses are analyzed as the drivers for the amounts of wastes induced by each product category. Similarly, the products responsible for the largest amounts of waste landfilling and incineration without energy recovery, i.e. the management techniques at the bottom of the "waste management hierarchy", are identified. Moreover, this study highlights the relative importance of waste produced abroad as compared to that produced in France, regarding the total amount of waste induced by French household consumption. The sensitivity of results to the modeling of import production is subsequently discussed. Finally, the potential perspectives for this type of consumption approach are considered with respect to its utility and current limitations in a context of waste policy planning, and more particularly regarding the way waste policy targets are set. PMID:26851169
Blanco Fonseca, Maria; Ramos, Fabien; Van Doorslaer, Benjamin
Projections for world food production and prices play a crucial role to evaluate and tackle future food security challenges. Understanding how these projections will be affected by climate change is the main objective of this study. By means of a bio-economic approach we assess the economic impacts of climate change on agrifood markets, providing both a global analysis and a regionalised evaluation within the EU. To account for uncertainty, we analyse the IPCC emission scenario A1B for the 20...
The thesis comprises five papers and an introductory overview of applied models and methods. The papers concern interdependences and interrelations in models applied to empirical analyses of various problems related to production, consumption, location and trade. Among different definitions of 'structural analysis' one refers to the study of the properties of economic models on the assumption of invariant structural relations, this definition is close to what is aimed at in lire present case....
In this thesis advanced regression methods are applied to discuss and investigate highly relevant research questions in the areas of finance and economics. In the field of credit risk the thesis investigates a hierarchical model which allows to obtain a consensus score, if several ratings are available for each firm. Autoregressive processes and random effects are used to model both a correlation structure between and within the obligors in the sample. The model also allows to validate ...
Vicente Caballero de la Torre
Full Text Available This paper presents the origin of the issue of empathy in the History of Ideas and its importance in economics, as well as its revitalization. It concludes that it is not the study of empathy, so fashionable today, but the study of decision making the place where Economics can find the nature of emotions in relation to human behavior. This nature is its power to inhibit behavior. The study of repentance is itself more interesting and helpful for the economy than the study of empathy. Finally, the institutional approach is presented as the best in order to understand the issues related to economic human behavior
This article explores the application of economic theory to the measurement of growth in public service output. This approach is designed to take account of changes in the quality of the output. The article discusses two alternative economic approaches; the basic expenditure determinants approach and the use of outcome production functions. The article demonstrates how the approaches could work in practice with ahypothetical example of expenditure and outcome production functions for police s...
Van Galen, Dean; Schneider-Rebozo, Lissa; Havholm, Karen; Andrews, Kris
This chapter presents the state of Wisconsin and the University of Wisconsin System as an ongoing case study for best practices in systematic, intentional, statewide programming and initiatives connecting undergraduate research and economic development.
Rodriguez Acosta, Mauricio
This dissertation consists of four chapters in Political Economy and Resource Economics from a macroeconomic perspective. This collection of works emphasizes the endogenous nature of institutions and their importance for economic development. The four chapters revolve around two central questions: 1. Why do inefficient institutions emerge and persist over time? And, 2. What are the dynamic consequences of inefficient institutions? The first two chapters investigate these two central questions...
OBJECTIVES OF THE STUDY: This thesis has three main objectives. To provide a thorough review of the theoretical foundation of corruption in economics, introduce the methodologies and their main results and lastly design an economic corruption experiment addressing mechanics and importance of reciprocity for individuals in comparison to other moral costs of corruption. THEORETICAL FOUNDATION: Theoretical foundation reviewed in the thesis comprises of both theoretical and practical ...
Raymond Franck; Francois Melese; John Dillard
Proceedings Paper (for Acquisition Research Program) This study examines defense acquisition through the new lens of Transaction Cost Economics (TCE). TCE is an emergent field in economics that has multiple applications to defense acquisition practices. TCE''s original focus was to guide ''make-or-buy?'' decisions that define the boundaries of a firm. This study reviews insights afforded by TCE that impact government outsourcing (''buy'' decisions), paying special attention to defense pro...
A. Berezhna; Yu. Popova
The urgent for today problem of socio-economic development of cities of Ukraine is explored there. Modeling is the methodological basis of research.On the basis of the detailed analysis of works of domestic and foreign scientists in the field of socio-economic development there has been defined basic types of models (linear, partial improvement, multiple-line, actor, structural), generalized the developments in relation to territorial development, to which in particular belong: analysis of fu...
Priddat, Birger P.
Only a few economists knew about hermeneutical economics. But my request is to confirm hermeneutical economics only for the reason to make it criticable. Without any doubt, hermeneutical economics is worth to be criticized; but it is an incomplete approach. The first part presents Ludwig M. Lachmann's version of hermeneutical economics. Lachmann is picked up from the scenario of hermeneutical economists (i.e. Ebeling, Berger, Lavoie, some authors of Kirzner 1986, etc.), because he is the most...
Cristiano Perugini; Gaetano Martino
Towards an Interpretation of Economic Inequality in Rural Areas: a Conceptual and Empirical Approach (by Gaetano Martino and Cristiano Perugini) - ABSTRACT: Department of Economic Sciences and Rural Appraisal, University of Perugia 1 Department of Economics, Finance and Statistics, University of Perugia 2 (Paper first received, April 2005; in final form, April 2006) Abstract Economic inequality among European regions has been widely investigated, and a large number of empirical results have e...
Jaiswal, Kishor; Wald, David J.
We extended the U.S. Geological Survey's Prompt Assessment of Global Earthquakes for Response (PAGER) empirical fatality estimation methodology proposed by Jaiswal et al. (2009) to rapidly estimate economic losses after significant earthquakes worldwide. The requisite model inputs are shaking intensity estimates made by the ShakeMap system, the spatial distribution of population available from the LandScan database, modern and historic country or sub-country population and Gross Domestic Product (GDP) data, and economic loss data from Munich Re's historical earthquakes catalog. We developed a strategy to approximately scale GDP-based economic exposure for historical and recent earthquakes in order to estimate economic losses. The process consists of using a country-specific multiplicative factor to accommodate the disparity between economic exposure and the annual per capita GDP, and it has proven successful in hindcast-ing past losses. Although loss, population, shaking estimates, and economic data used in the calibration process are uncertain, approximate ranges of losses can be estimated for the primary purpose of gauging the overall scope of the disaster and coordinating response. The proposed methodology is both indirect and approximate and is thus best suited as a rapid loss estimation model for applications like the PAGER system.
This work is analysing the economical aspects of the fuel oil price for thermo power plant Negotino in conditions when there is a need of engagement of this, until now, under utilized capacity. In the same context are presented the actual electro-energetic situations in the region, in the period when are actual. changes in many electro-energetic systems. Trough the method of average prices is given an approach for securing economically payable fuel for the thermo power generating plants on liquid fuel. (Author)
一、 Major Characteristics of the Direct Method and the Communicative Approach The characteristics of the communicative Approach are as follows:(1) The teaching content takes language function as the key link,which is fixed up in accordance with the different demands of studying object.For example,the demands of the scientist and technologist,the translator,the foreign language teacher,the tourist adviser,the diplomatic personnel and the economic worker are different from each other,so the most necessary language materials for achieving certain communication are chosen which are usually the most common structure form.
European literature as was feasible has been carried out, such a survey is certain to fall short of reviewing the full literature simply because the larger part of it is North American. The latter was being reviewed separately by the US team. However, in making recommendations as to what valuation methods or studies to use, the report draws on the substantial US experience. The whole issue of when a methodology or a particular study can be transferred from one context to another has never been fully addressed. This report makes some suggestions as to when this is may be appropriate although it is recognized that this is by no means a definitive discussion of that issue. Certainly, the fact that the fuel cycle analysis here is location-specific, rather than 'generic', in the sense of providing broad average costs of impacts caused by the use of certain fuels, makes the transferability of estimates more difficult. The report is structured as follows. Part I begins with a discussion of the nature of externalities and a more precise definition of what is being measured. Of particular importance in this context is the extent to which an environmental impact is or is not an 'externality'. Without going into the more complex aspects of the economic theory, the report offers some advice on when the issue is relevant and what criteria might be used to assess whether or not a particular environmental impact really is an externality. The remainder of Part I then deals with a number of general issues that are of practical importance in the context of valuing specific impacts. These are: the question of transferability discussed above; the time period or timescale over which the valuation is to take place; the treatment of uncertainty; the discounting of future costs; and the finally the issue of exactly what is being assumed constant when a particular valuation is being carried out. This is of special significance in the context of the valuation being undertaken here. Part II of the
Daskalovska, Nina; Ivanovska, Biljana
This handbook for English language students presents the major teaching methods and approaches that have been used in English language teaching and learning. It is divided into two parts. Part I gives an overview of first and second/foreign language acquisition theories, such as the behaviourist, the innatist, the cognitive, the interactionist and the creative-construction theory. Part II describes the English language teaching methods and approaches that have been popular at different times ...
Fernández, Francisco J.; Blanco, Maria
The economic effects of climate change on agriculture have been widely assessed in the last two decades. Many of these assessments are based on the integration of biophysical and agro-economic models, allowing to understand the physical and socio-economic responses of the agricultural sector to future climate change scenarios. The evolution of the bio-economic approach has gone through different stages.This review analyses its evolution: firstly, framing the bio-economic approach into the con...
Nuclear power plants (NPPs) with water cooled reactors [either light water reactors (LWRs) or heavy water reactors (HWRs)] constitute the large majority of the currently operating plants. Water cooled reactors can make a significant contribution to meeting future energy needs, to reducing greenhouse gas emissions, and to energy security if they can compete economically with fossil alternatives, while continuing to achieve a very high level of safety. It is generally agreed that the largest commercial barrier to the addition of new nuclear power capacity is the high capital cost of nuclear plants relative to other electricity generating alternatives. If nuclear plants are to form part of the future generating mix in competitive electricity markets, capital cost reduction through simplified designs must be an important focus. Reductions in operating, maintenance and fuel costs should also be pursued. The Department of Nuclear Energy of the IAEA is examining the competitiveness of nuclear power and the means for improving its economics. The objective of this TECDOC is to emphasize the need, and to identify approaches, for new nuclear plants with water cooled reactors to achieve competitiveness while maintaining high levels of safety. The cost reduction methods discussed herein can be implemented into plant designs that are currently under development as well as into designs that may be developed in the longer term. Many of the approaches discussed also generally apply to other reactor types (e.g. gas cooled and liquid metal cooled reactors). To achieve the largest possible cost reductions, proven means for reducing costs must be fully implemented, and new approaches described in this document should be developed and implemented. These new approaches include development of advanced technologies, increased use of risk-informed methods for evaluating the safety benefit of design features, and international consensus regarding commonly acceptable safety requirements that
Full Text Available The paper emphasizes the economic performance of the fresh European sea bass production and profitability of related processing to value-added fillets. Croatian annual farmed European sea bass and gilthead sea bream production in amount of 4,000 tones plays only about 1.7% of the World production with mediocre economic benefits for producers. However, product diversification, including processing measures as filleting, vacuuming and smoked processing can ensure additional product value providing long-term strategic orientation for fish-farmers. Seabass filleting, although at the initial phase, can be a modus of value-added production, which protects the producers of the price risk volatility targeting the population averse to the long lasting traditional fish mill preparation. Applied Real Option method can be helpful tool in the situation when the strategic project value includes not just the current economic features but also opportunities related to the basic model. Option approach indicates that seabass filleting triplicate the economic performance with respect to fresh seabass production.
Devkota, Surendra R.
This dissertation analyzes the sustainability of the economy of Nepal. The main empirical question addressed is whether the Tenth Plan of Nepal (2002--2007) will meet its projected economic output goal and achieve its primary goal of reducing poverty. To this end, economic growth scenarios are examined in terms of availability of energy demand and supply, and income disparity among different households. The structure of the Nepali economy is examined using a Leontief input-output table, a Ghosian supply-side input-output table, and a social accounting matrix for the year 1999. Based on the input-output analysis of energy demand and supply for the 10th Plan, it is unlikely that energy requirements of the projected output will be met, unless some extra sources of energy are developed. Households need to switch their energy use from fuel wood/biomass to other alternatives. In order to meet the target of the Plan vis-a-vis energy demand or supply, a few policy measures are urgently needed, though some of these options require many years to develop. Household income inequality and distribution is examined through the SAM multipliers; namely aggregate, transfer, open-loop, and closed-loop multipliers. The investment-income multiplier scenarios for the 10th Plan indicate that the nominal income of households may increase due to the increased investment, which will not necessarily improve the bottom deciles households, particularly socio-economically deprived households. Economic growth in Nepal during the past fifty years demonstrates that the modernization model is unsuccessful. Economic growth occurred at some centers at the cost of periphery. A huge regional disparity has developed between hills and plains, east and west, city and rural areas. Nepal's persistent poverty indicates a failure of modernization theory. The Tenth Plan would be another continuation of a failed legacy, unless social and natural endowments are considered for sustainability. Nepal could be an
William D. Nordhaus
What are the prospects for long-run economic growth? The present study looks at a recently launched hypothesis, which I label Singularity. The idea here is that rapid growth in computation and artificial intelligence will cross some boundary or Singularity after which economic growth will accelerate sharply as an ever-accelerating pace of improvements cascade through the economy. The paper develops a growth model that features Singularity and presents several tests of whether we are rapidly a...
William D. Nordhaus
What are the prospects for long-run economic growth?, the present study looks at a more recently launched hypothesis, which I label Singularity. The idea here is that rapid growth in computation and artificial intelligence will cross some boundary or Singularity after which economic growth will accelerate sharply as an ever-accelerating pace of improvements cascade through the economy. The paper develops a growth model that features Singularity and presents several tests of whether we are rap...
Information economics provides important tools to articulate an economics analysis of the governance mechanisms for the generation and exploitation of localized technological knowledge. A variety of hybrid forms of knowledge governance ranging from coordinated transactions and constructed interactions to quasi-hierarchies can be found between the two unrealistic extremes of pure markets and pure organizations. The notion of localized technological knowledge as a highly heterogeneous dynamic p...
This chapter explores the potential advantages and disadvantages of Agent-based Computational Economics (ACE) for the study of economic systems. General points are concretely illustrated using an ACE model of a two-sector decentralized market economy. Six issues are highlighted: Constructive understanding of production, pricing, and trade processes; the essential primacy of survival; strategic rivalry and market power; behavioral uncertainty and learning; the role of conventions and organizat...
Davis, George C.; Jacob, Jacy; Good, Deborah J.
Food intake is greatly influenced by economic factors. Consequently, neuroeconomics has been identified as a new and important area for understanding the interaction between genotypes and phenotypes related to food intake. A foundational element of economics is choice between alternatives. Changing food choices are a central element in the explanation of the increasing obesity rates in human populations. The purpose of this research is to incorporate the key element of choice into the investi...
Full Text Available The article discusses the widely used classic method of analysis, forecasting and decision-making in the various economic problems, called SWOT analysis. As known, it is a qualitative comparison of multicriteria degree of Strength, Weakness, Opportunity, Threat for different kinds of risks, forecasting the development in the markets, status and prospects of development of enterprises, regions and economic sectors, territorials etc. It can also be successfully applied to the evaluation and analysis of different project management tasks - investment, innovation, marketing, development, design and bring products to market and so on. However, in practical competitive market and economic conditions, there are various uncertainties, ambiguities, vagueness. Its making usage of SWOT analysis in the classical sense not enough reasonable and ineffective. In this case, the authors propose to use fuzzy logic approach and the theory of fuzzy sets for a more adequate representation and posttreatment assessments in the SWOT analysis. In particular, has been short showed the mathematical formulation of respective task and the main approaches to its solution. Also are given examples of suitable computer calculations in specialized software Fuzicalc for processing and operations with fuzzy input data. Finally, are presented considerations for interpretation of the results.
Xuejun Xu; Wenbin Chen
In this paper, standard and economical cascadic multigrid methods are con-sidered for solving the algebraic systems resulting from the mortar finite element meth-ods. Both cascadic multigrid methods do not need full elliptic regularity, so they can be used to tackle more general elliptic problems. Numerical experiments are reported to support our theory.
Larissa Margareta BĂTRÂNCEA; Ramona Anca NICHITA; Ioan BĂTRÂNCEA; Bogdan Andrei MOLDOVAN
The paper reviews the models of tax compliance with an emphasis on economic and behavioral perspectives. Although the standard tax evasion model of Allingham and Sandmo and other similar economic models capture some important aspects of tax compliance (i.e., taxpayers’ response to increases in tax rate, audit probability, penalty rate) they do not suffice the need for an accurate prediction of taxpayers’ behavior. The reason is that they do not offer a comprehensive perspective on the sociolo...
Heitor Reis, António; Dionísio, Andreia
This paper illustrates an application of Constructal Theory to spatial economics and Þnance. Constructal theory is about the generation of architecture in ßow systems in general. Simply stated, the constructal law proclaims a tendency to maximize ßow access in time, i.e., for a Þnite-size ßow system to persist in time (to live), it must evolve in such a way that it provides easier access to the currents that ßow through it. Constructal optimization in spatial economics is po...
Zhu, JZ; Irving, MR; Xu, GY
This article presents a new nonlinear convex network flow programming model and algorithm for solving the on-line economic power dispatch with N and N−1 security. Based on the load flow equations, a new nonlinear convex network flow model for secure economic power dispatch is set up and then transformed into a quadratic programming model, in which the search direction in the space of the flow variables is to be solved. The concept of maximum basis in a network flow graph was introduced so tha...
Hayek’s contribution to the analysis of law has been widely criticized and disputed. This paper shares with a recent assessment by Beaulier, Boettke and Coyne the opinion that the significance of Hayek’s legal writings and their relevance to law and economics can only be completely understood by jointly analyzing his economic theory and his legal theory. Moreover it will be argued that both theories must be reconsidered in light of Hayek’s theory of mind. This theory, in fact, represents the ...
Safarzynska, Karolina; Jeroen C.J.M. van den Bergh
In this paper we present an overview of methods and components of formal economic models employing evolutionary approaches. This compromises two levels: (1) techniques of evolutionary modelling, including multi-agent modelling, evolutionary algorithms and evolutionary game theory; (2) building blocks or components of formal models classified into core processes and features of evolutionary systems - diversity, innovation and selection - and additional elements, such as bounded rationality, di...
Harle, K.M.; Sanfey, A.G.
Although recent economic models of human decision making have recognised the role of emotion as an important biasing factor, the impact of incidental emotion on decisions has remained poorly explored. To address this question, we jointly explored the role of emotional valence (i.e., positive vs. neg
Rao, R. Ramesh; Jani, Rohana
The economic progress made by many countries is attributed to many factors. Education is often quoted as a major contributing factor. There are many researches done in evaluating and determining the role of education in nations. In this paper, factors of education which have helped in the case of Malaysia are dwelled upon. Education has helped…
Responses from 64 of 80 extension agents specializing in community resources and economic development identified the "Journal of the Community Development Society" as the primary source of ideas and information. Frequently cited program topics were entrepreneurship, fiscal policy, budgeting, strategic planning, and leadership development. Among…
Full Text Available Does Eastern Germany differ significantly from Western part in economic terms? How have new Bundeslnder been developing over past twenty years? How fast has East been catching up with West? What could have hampered convergence? How today are German states equipped with factors determining future growth? How the new Bundeslnder performed do compared with the old ones? This paper seeks to address above mentioned questions. It offers a comprehensive review of key economic developments of two decades of reunited Germany. Particularly it examines current economic landscape; investigates convergence processes taking place since reunification and tries to identify most likely impediments hampering full catching up. Finally, it aims at assessing contemporary growth potential of German states. With respect to the starting point poor performance of East Germany back in 1990 the progress made and results achieved are impressive. Though, comparing the situation with Western part of the country significant discrepancies continue to exist. Certainly, assessment of the last twenty years of reunited Germany hinges much upon perspective taken. Two decades after Berlin Wall Fall opinions on economic consequences of reunification are more balanced, since much has been achieved, but much still needs to be done.
Oleg Sergeevich Sukharev
Full Text Available The subject matter of the article — the development of the doctrine of “coherent” Regional Development and research of the structural quality of the development of regional systems on the basis of theoretical analysis of institutional factors (parameters that determine the manufacturability of the regional economy. The purpose of the research — to show the possibilities of technological change and shift of economic growth in a particular regional system, with stringent limits for accelerated development, with an emphasis on industrial regions. To this end, formed a number of structural models and analyze the impact of technological factors on the growth parameters of the regional economy, the definition of conditions for the development of the industrial region. Methodology. The correlation and regression analysis are applied, which allows to establish a statistically significant relationship between the relevant parameters, the econometric models are used to demonstrate the possibility of estimating the growth parameters via the control parameters, including the technological factor. The structural aspect of regional economic growth is taken into account by the division of investment on the old and new technologies. Result and scope of the research. Increasing adaptability of the regional economy is possible at the expense of compounding results in the use of (old and the application of new technologies. This principle specifies the algorithm of formation of regional development priorities, provides a choice of strategy of technological development of the regional system. Investing resources only in the field of new technologies can dramatically enhance the disparity of regional economic system, the parameters of diversion of resources and the creation of a new resource will determine the pace of growth in the region. Conclusions. Dynamics of investment into old technology provides a major impact on the rate of economic growth in the
Lin, Yanzi; Guo, Miao; Shah, Nilay; Stuckey, David C
The driver for waste-based economic growth is long-term strategic design, and a paradigm-shift from waste treatment to resource recovery. This study aims to use an integrated modelling approach to evaluate the holistic economic and environmental profiles of three alternative nitrogen removal and recovery methods integrated into wastewater treatment systems, including conventional nitrification-denitrification, Anammox, and the anaerobic ion exchange route, to provide insights into N recovery system designs which are key elements in building a sustainable circular economy. Our results suggest that ion exchange is a promising technology showing high N removal-recovery efficiency from municipal wastewater and delivering competitive sustainability scores. In comparison with the well-developed conventional route, ion exchange and Anammox are undergoing significant research and development; as highlighted in sensitivity analyses, there is considerable room for process design and optimisation of ion exchange systems to achieve economically and environmentally optimal performance. PMID:27005785
We present a description of the PhD thesis which aims to propose a rule-based query answering method for relational data. In this approach we use an additional knowledge which is represented as a set of rules and describes the source data at concept (ontological) level. Queries are posed in the terms of abstract level. We present two methods. The first one uses hybrid reasoning and the second one exploits only forward chaining. These two methods are demonstrated by the prototypical implementation of the system coupled with the Jess engine. Tests are performed on the knowledge base of the selected economic crimes: fraudulent disbursement and money laundering.
Stanley, H. Eugene
In recent years, statistical physicists and computational physicists have determined that physical systems which consist of a large number of interacting particles obey universal "scaling laws" that serve to demonstrate an intrinsic self-similarity operating in such systems. Further, the parameters appearing in these scaling laws appear to be largely independent of the microscopic details. Since economic systems also consist of a large number of interacting units, it is plausible that scaling theory can be usefully applied to economics. To test this possibility using realistic data sets, a number of scientists have begun analyzing economic data using methods of statistical physics . We have found evidence for scaling (and data collapse), as well as universality, in various quantities, and these recent results will be reviewed in this talk--starting with the most recent study . We also propose models that may lead to some insight into these phenomena. These results will be discussed, as well as the overall rationale for why one might expect scaling principles to hold for complex economic systems. This work on which this talk is based is supported by BP, and was carried out in collaboration with L. A. N. Amaral S. V. Buldyrev, D. Canning, P. Cizeau, X. Gabaix, P. Gopikrishnan, S. Havlin, Y. Lee, Y. Liu, R. N. Mantegna, K. Matia, M. Meyer, C.-K. Peng, V. Plerou, M. A. Salinger, and M. H. R. Stanley. [1.] See, e.g., R. N. Mantegna and H. E. Stanley, Introduction to Econophysics: Correlations & Complexity in Finance (Cambridge University Press, Cambridge, 1999). [2.] P. Gopikrishnan, B. Rosenow, V. Plerou, and H. E. Stanley, "Identifying Business Sectors from Stock Price Fluctuations," e-print cond-mat/0011145; V. Plerou, P. Gopikrishnan, L. A. N. Amaral, X. Gabaix, and H. E. Stanley, "Diffusion and Economic Fluctuations," Phys. Rev. E (Rapid Communications) 62, 3023-3026 (2000); P. Gopikrishnan, V. Plerou, X. Gabaix, and H. E. Stanley, "Statistical Properties of
The economic evaluation of fusion research to date has focussed on the benefits of essentially unlimited energy for future generations. In this paper it is shown that energy research in general, and fusion research in particular, also provides benefits in the short term, benefitting us today as well as future generations. Short-term benefits are the result of two distinct aspects of fusion research. First, fusion research provides information for decision making on both the continuing fusion research efforts and on other energy research programs. Second, fusion research provides an expectation of a future energy source thereby promoting accelerated consumption of existing fossil fuels today. Both short-term benefits can be quantitatively evaluated and both are quite substantial. Together, these short-term benefits form the primary economic rationale for fusion research
This paper extends the notion of the rational agent in economics by acknowledging the role of the unconscious in the agent�s decision-making process. It argues that the unconscious can be modelled by a rational agent with his own objective function and set of information. The combination of both the conscious and unconscious agents is called the "dual agent". This dual agent presents rationally biased behaviors that may not disappear through aggregation, and could be potentially measured. It ...
A different intermodal transportation model based on cost analysis considering technical, economical, and operational parameters is presented. The model consists of such intermodal modes as sea-road, sea-railway, road-railway, and multimode of sea-road-railway. A case study of cargo transportation has been carried out by using the suggested model. Then, the single road transportation mode has been compared to intermodal modes in terms of transportation costs. This comparison takes into accoun...
Ríos, Sergio Daniel
Microalgae oil has been identified as a reliable resource for biodiesel production due to its high lipid productivity and potential cultivation in non-fertile locations. However, high scale production of microalgae based biodiesel depends on the optimization of the entire process to be economically feasible. The present work combine the optimization of microalgae downstream processes with computational tools for the modeling of different scenarios of the harvesting, oil extraction and transes...
Kwan Soo Kim
This paper ï¬ rst develops the model, based on endogenous growth argument, in which environmental quality is included as input and thus makes possible the explanation of issues related to resource allocation and its impacts on the environment. Second, it analyzes the relationship between land market performance and underinvestment by incorporating information about soil quality into the analytical framework It extends existing literature on the economic modelling of soil conservation in sever...
Chiswick, Carmel Ullman
An economic theory of immigration and immigrant absorption for a religious minority is developed and applied to Jewish history. Human capital is classified according to whether it is allocative or productive, transferable or location-specific, general or Jewish. Crossclassifying these categories leads to various hypotheses about self-selection among Jewish immigrants and their influence on the Jewish community in their destination. Complementarity between general and Jewish human capital is a...
Dougan, James D.
Economic theory predicts an inverse relationship between the quantity of a commodity supplied to the marketplace and the equilibrium market price of that commodity. This prediction was tested in three experiments. Pigeons responded on simple variable-interval schedules, and quantity of reinforcement supplied was varied in a different way in each experiment. In Experiment 1, quantity supplied was varied by manipulating reinforcement rate while keeping session length constant. In Experiment 2, ...
Mungani, Dzivhuluwani Simon
Full Text Available Various production methods are used in industry to manufacture or produce a variety of products needed by industry and consumers. The nature of a product determines which production method is most suitable or cost-effective. A continuous process is typically used to produce large volumes of liquids or gases. Batch processing is often used for small volumes, such as pharmaceutical products. This paper discusses a research project to determine the relationship between maintenance approaches and production methods. A survey was done to determine to what extent three maintenance approaches reliability-centred maintenance (RCM, total productive maintenance (TPM, and business-centred maintenance (BCM are used for three different processing methods (continuous process, batch process, and a production line method.
Johnson Taiwo Olajide
Full Text Available Most of the developing and under-developed countries have been facing a lot of challenges on the issue of economic growth, despite the fact that they are endowed with both natural and human resources. This study examines the determinants of real per Capita GDP growth in Organization of the Petroleum Exporting Countries (OPEC using a panel of twelve countries for the period of 1986 and 2010.The pooled Ordinary Least Squares (OLS, Fixed Effect (FE and Random Effect (RE models were employed to assess the relationship between CGDP and other economic variables used. The result showed that price level of consumptions (pc and investment share (ci are the important factors of CGDP that contribute to the economic growth of OPEC countries. The result also established that exchange rate (Xrat, price of GDP (p, purchasing power parity (ppp and ci have a positive influence on CGDP. The test statistic revealed that Random Effects Model (REM estimator is more efficient than OLS and that there is no significance difference between Fixed Effects Model (FEM and REM estimators.
Larissa Margareta BĂTRÂNCEA
Full Text Available The paper reviews the models of tax compliance with an emphasis on economic and behavioral perspectives. Although the standard tax evasion model of Allingham and Sandmo and other similar economic models capture some important aspects of tax compliance (i.e., taxpayers’ response to increases in tax rate, audit probability, penalty rate they do not suffice the need for an accurate prediction of taxpayers’ behavior. The reason is that they do not offer a comprehensive perspective on the sociological and psychological factors which shape compliance (i.e., attitudes, beliefs, norms, perceptions, motivations. Therefore, the researchers have considered examining taxpayers’ inner motivations, beliefs, perceptions, attitudes in order to accurately predict taxpayers’ behavior. As a response to their quest, behavioral models of tax compliance have emerged. Among the sociological and psychological factors which shape tax compliance, the ‘slippery slope’ framework singles out trust in authorities and the perception of the power of authorities. The aim of the paper is to contribute to the understanding of the reasons for which there is a need for a tax compliance model which incorporates both economic and behavioral features and why governments and tax authorities should consider these models when designing fiscal policies.
Full Text Available In the past years majority of EU members experienced the highest economic decline in their modern history, but impacts of the global financial crisis were not distributed homogeneously across the continent. The aim of the paper is to examine a cohesion of European Union (plus Norway and Iceland in terms of an economic development of its members from the 1st of January 2008 to the 31st of December 2012. For the study five economic indicators were selected: GDP growth, unemployment, inflation, labour productivity and government debt. Annual data from Eurostat databases were averaged over the whole period and then used as an input for a cluster analysis. It was found that EU countries were divided into six different clusters. The most populated cluster with 14 countries covered Central and West Europe and reflected relative homogeneity of this part of Europe. Countries of Southern Europe (Greece, Portugal and Spain shared their own cluster of the most affected countries by the recent crisis as well as the Baltics and the Balkans states in another cluster. On the other hand Slovakia and Poland, only two countries that escaped a recession, were classified in their own cluster of the most successful countries
Sokoler, Leo Emil
This thesis concerns methods and algorithms for power production planning in contemporary and future power systems. Power production planning is a task that involves decisions across different time scales and planning horizons. Hours-ahead to days-ahead planning is handled by solving a mixed...... variance. Simulations show that MV-EMPC reduces cost and risk compared to CE-EMPC. The simulations also show that the economic performance of CE-EMPC can be much improved using a constraint back-off heuristic. Efficient solution of the optimal control problems (OCPs) that arise in EMPC is important, as the...... OCPs are solved online. We present special-purpose algorithms for EMPC of linear systems that exploit the high degree of structure in the OCPs. A Riccati-based homogeneous and self-dual interior-point method is developed for the special case, where the OCP objective function is a linear function. We...
韩学山; 赵建国; 柳焯
Under the environment of electric power market, economic dispatch (ED) problem should consider network constraints, unit ramp rates, besides the basic constraints. For this problem, it is important to establish the effective model and algorithm. This paper examines the decoupled conditions that affect the solution optimality to this problem. It proposes an effective model and solution method. Based on the look-ahead technique, it finds the number of time intervals to guarantee the solution optimality. Next, an efficient technique for finding the optimal solution via the interior point methods is described. Test cases, which include dispatching six units over 5 time intervals on the IEEE 30 test system with line flows and ramp constraints are presented. Results indicate that the computational effort as measured by iteration counts or execution time varies only modestly with the problem size.
Karaçay Çakmak Hatice
Full Text Available The aim of this article is to examine the capability approach of Amartya Sen and mainstream economic theory in terms of their epistemological, methodological and philosophical/cultural aspects. The reason for undertaking this analysis is the belief that Sen's capability approach, contrary to some economists' claim, is uncongenial to mainstream economic views on epistemology and methodology (not on ontologically. However, while some social scientists regard that Sen, on the whole, is a mainstream economist, his own approach strongly criticizes both the theory and practice of mainstream economics.
Stéphane J. Baele
Full Text Available The 2000s have witnessed the arrival and growing popularity of randomized controlled experiments (RCTs in Development Economics. Whilst this new way of conducting research on development has unfolded important insights, the ethical challenge it provokes has not yet been systematically examined. The present article aims at filling this gap by providing the first ad hoc discussion of the moral issues that accompany the use of RCTs in Development Economics. Claiming that this new research agenda needs its own, specific set of ethical guidelines, we expose the six ethical problems that these experiments potentially provoke and that should therefore be carefully assessed by ethics committees before an RCT is launched and by scholarly journals before its results are published.
We consider an overlapping generations model with public education and social security where the overall size of these policies is determined in a repeated voting game. We investigate the interaction between the politically determined policies and economic development in a Markov perfect equilibrium. The following results are obtained. First, the level of human capital determines whether these policies are sustained in the Markov perfect equilibrium. Second, if the level of initial human ...
Dmitry V. Gorbachev
Full Text Available The article describes the systematic approach to developing a system of combined models of discrete processes. Mathematical basis for constructing a model of information Petri nets.
Collins, R. Lorraine; Vincent, Paula C.; Yu, Jihnhee; Liu, Liu; Epstein, Leonard H.
In the U.S., marijuana is the most commonly used illicit drug. Its prevalence is growing, particularly among young adults. Behavioral economic indices of the relative reinforcing efficacy (RRE) of substances have been used to examine the appeal of licit (e.g., alcohol) and illicit (e.g., heroin) drugs. The present study is the first to use an experimental, simulated purchasing task to examine the RRE of marijuana. Young-adult (M age = 21.64 years) recreational marijuana users (N = 59) complet...
Energy is fundamental to the economic development of a society. Ensuring energy security is critical to the security, sovereignty, and well-being of any country. However, there is no consensus on the definition of energy security. This book attempts to construct an appropriate definition for the concept of energy security. The evolution of energy security is traced at both the global level and in the Indian context. The book elaborates on the concept of energy security, highlights its linkages, enumerates India’s indigenous energy resources, examines the status of energy security in the country, and makes policy suggestions to ensure energy security in the country.
The Direct Method and the Communicative Approach are two different kinds of methods in teaching foreign languages. There are obvious advantages in using the Direct Method. However,people found a number of shortcomings in this method. It is not easy to apply after the first stages of language learning when ideas and concepts become more abstract and complicated. This method assumes that adults can learn a second language the same way that children learn their first language. However,more attention should be paid to the differences between these two groups of people.Obviously,the Communicative Approach contributes a lot to the foreign language teaching. But it is certain that it’s not a perfect teaching system. There are quite a few questions needing resolutions.Developing a methodology involves the synthesis of theory and practice into a program that works. It generally means drawing from several methods and approaches in order to create an integrated curriculum that will meet the needs of the situation and students. Integrative and / or instrumental goals,the particular concepts being taught,learning and teaching preferences,cultural factors,and age and competency levels of students are all important considerations.
The command-and-control system to air quality controls is a mixture of technology-forcing standards for existing sources and offset for new sources. More stringent controls are required to achieve the ambient air quality standards in non-attainment urban areas which have been conformed with burgeoning economic growth. Due to the economy of scale and locale of polluting sources, some sources can implement these controls in a more cost-effective manner than others. In order to minimize the control costs of regulated sources, trading of emissions has been stipulated and has occurred among power plants to curb acid rain at the national level. Southern California is currently embarking on the trading of oxides of nitrogen, reactive organic compounds, and oxides of sulfur among existing and new stationary sources. New economic opportunities for entrepreneurs with advances control technology will arise under emissions trading. Trading will also result in the redistribution of emissions geographically and across industries. Through the linkage of a linear-programming trading model, a regional econometric model, and an urban airshed model, the impact of trading on the Southern California economy can thus be examined. This paper describes a framework which can be used to compare and contrast RECLAIM with the command-and-control system; and discusses a few issues which may arise in a trading market and how these issues can be dealt with are also examined
The aurthor discusses various approaches to the characterization of the category “distribution” as the set of factors of economic growth as a unified system that allows to structure the existing growth factors, determine their subordination and to identify the most significant causal phenomena and conditions of economic growth.
Full Text Available The aurthor discusses various approaches to the characterization of the category “distribution” as the set of factors of economic growth as a unified system that allows to structure the existing growth factors, determine their subordination and to identify the most significant causal phenomena and conditions of economic growth.
Berry, Kenneth J; Johnston, Janis E
This research monograph provides a synthesis of a number of statistical tests and measures, which, at first consideration, appear disjoint and unrelated. Numerous comparisons of permutation and classical statistical methods are presented, and the two methods are compared via probability values and, where appropriate, measures of effect size. Permutation statistical methods, compared to classical statistical methods, do not rely on theoretical distributions, avoid the usual assumptions of normality and homogeneity of variance, and depend only on the data at hand. This text takes a unique approach to explaining statistics by integrating a large variety of statistical methods, and establishing the rigor of a topic that to many may seem to be a nascent field in statistics. This topic is new in that it took modern computing power to make permutation methods available to people working in the mainstream of research. This research monograph addresses a statistically-informed audience, and can also easily serve as a ...
Zuniga, Allison F.; Rasky, Daniel; Pittman, Robert B.; Zapata, Edgar; Lepsch, Roger
The NASA COTS (Commercial Orbital Transportation Services) Program was a very successful program that developed and demonstrated cost-effective development and acquisition of commercial cargo transportation services to the International Space Station (ISS). The COTS acquisition strategy utilized a newer model than normally accepted in traditional procurement practices. This new model used Space Act Agreements where NASA entered into partnerships with industry to jointly share cost, development and operational risks to demonstrate new capabilities for mutual benefit. This model proved to be very beneficial to both NASA and its industry partners as NASA saved significantly in development and operational costs while industry partners successfully expanded their market share of the global launch transportation business. The authors, who contributed to the development of the COTS model, would like to extend this model to a lunar commercial services program that will push development of technologies and capabilities that will serve a Mars architecture and lead to an economical and sustainable pathway to transporting humans to Mars. Over the past few decades, several architectures for the Moon and Mars have been proposed and studied but ultimately halted or not even started due to the projected costs significantly exceeding NASA's budgets. Therefore a new strategy is needed that will fit within NASA's projected budgets and takes advantage of the US commercial industry along with its creative and entrepreneurial attributes. The authors propose a new COTS-like program to enter into partnerships with industry to demonstrate cost-effective, cis-lunar commercial services, such as lunar transportation, lunar ISRU operations, and cis-lunar propellant depots that can enable an economical and sustainable Mars architecture. Similar to the original COTS program, the goals of the proposed program, being notionally referred to as Lunar Commercial Orbital Transfer Services (LCOTS
Kagliwal, Lalit D; Survase, Shrikant A; Singhal, Rekha S; Granström, Tom
A process for the fermentative production of propionic acid from whole wheat flour using starch and gluten as nutrients is presented. Hydrolysis of wheat flour starch using amylases was optimized. A batch fermentation of hydrolysate supplemented with various nitrogen sources using Propionibacterium acidipropionici NRRL B 3569 was performed. The maximum production of 48.61, 9.40, and 11.06 g of propionic acid, acetic acid and succinic acid, respectively, was found with wheat flour hydrolysate equivalent to 90 g/l glucose and supplemented with 15 g/l yeast extract. Further, replacement of yeast extract with wheat gluten hydrolysate showed utilization of gluten hydrolysate without compromising the yields and also improving the economics of the process. The process so developed could be useful for production of animal feed from whole wheat with in situ production of preservatives, and also suggest utilization of sprouted or germinated wheat for the production of organic acids. PMID:23357590
Collins, R Lorraine; Vincent, Paula C; Yu, Jihnhee; Liu, Liu; Epstein, Leonard H
In the United States, marijuana is the most commonly used illicit drug. Its prevalence is growing, particularly among young adults. Behavioral economic indices of the relative reinforcing efficacy (RRE) of substances have been used to examine the appeal of licit (e.g., alcohol) and illicit (e.g., heroin) drugs. The present study is the first to use an experimental, simulated purchasing task to examine the RRE of marijuana. Young-adult (M age = 21.64 years) recreational marijuana users (N = 59) completed a computerized marijuana purchasing task designed to generate demand curves and the related RRE indices (e.g., intensity of demand-purchases at lowest price; Omax-max. spent on marijuana; Pmax-price at which marijuana expenditure is max). Participants "purchased" high-grade marijuana across 16 escalating prices that ranged from $0/free to $160/joint. They also provided 2 weeks of real-time, ecological momentary assessment reports on their marijuana use. The purchasing task generated multiple RRE indices. Consistent with research on other substances, the demand for marijuana was inelastic at lower prices but became elastic at higher prices, suggesting that increases in the price of marijuana could lessen its use. In regression analyses, the intensity of demand, Omax, and Pmax, and elasticity each accounted for significant variance in real-time marijuana use. These results provide support for the validity of a simulated marijuana purchasing task to examine marijuana's reinforcing efficacy. This study highlights the value of applying a behavioral economic framework to young-adult marijuana use and has implications for prevention, treatment, and policies to regulate marijuana use. PMID:24467370
Aliyev, A G
Brief Information on Finite-Dimensional Vector Space and its Application in EconomicsBases of Piecewise-Linear Economic-Mathematical Models with Regard to Influence of Unaccounted Factors in Finite-Dimensional Vector SpacePiecewise Linear Economic-Mathematical Models with Regard to Unaccounted Factors Influence in Three-Dimensional Vector SpacePiecewise-Linear Economic-Mathematical Models with Regard to Unaccounted Factors Influence on a PlaneBases of Software for Computer Simulation and Multivariant Prediction of Economic Even at Uncertainty Conditions on the Base of N-Comp
This paper attempts to examine the dynamic relationship between economic growth, nuclear energy consumption, labor and capital for India for the period 1969-2006. Applying the bounds test approach to cointegration developed by we find that there was a short- and a long-run relationship between nuclear energy consumption and economic growth. Using four long-run estimators we also found that nuclear energy consumption has a positive and a statistically significant impact on India's economic growth. Further, applying the approach to Granger causality and the variance decomposition approach developed by , we found a positive and a significant uni-directional causality running from nuclear energy consumption to economic growth without feedback. This implies that economic growth in India is dependent on nuclear energy consumption where a decrease in nuclear energy consumption may lead to a decrease in real income. For a fast growing energy-dependent economy this may have far-reaching implications for economic growth. India's economic growth can be frustrated if energy conservation measures are undertaken without due regard to the negative impact they have on economic growth.
Marta Rey García; Luis Ignacio Álvarez González
Theoretical debate about the nature of charitable foundations has traditionally become polarized around two distinct conceptual approaches: the non-profit or third sector approach, versus the social economy approach. This research tries to find a common ground between these two approaches, and to highlight the specificities of the foundation as an organizational formula, supporting its current socio-economic relevance with latest quantitative data on the contemporary Spanish foundation sector...
This paper describes the principles, and suggests a methodology for expanding the dispatch of electrical power production systems for involving a pure minimum cost dispatch, to also include environmental objectives. The approach is qualitative in that no attempt is made as to assign a specific monetary value to environmental impacts, but rather maintaining the physical value of the impact through the decision process. However, the initial relative weights assigned to environmental impacts in the methodology are based on the many recent attempts to monetize environmental damages. The main contribution of the approach is to analyze how dispatch changes as a function of the total environmental weight, and as a function of the relative weighing of individual environmental insults, e.g., SO2, NOx and CO2. The methodology is illustrated with a sample production system involving environmental coast estimates from major US studies
The economic and schedule risks of Environmental Restoration (ER) projects are commonly analyzed toward the end of the baseline development process. Risk analysis is usually performed as the final element of the scheduling or estimating processes for the purpose of establishing cost and schedule contingency. However, there is an opportunity for earlier assessment of risks, during development of the technical scope and Work Breakdown Structure (WBS). Integrating the processes of risk management and baselining provides for early incorporation of feedback regarding schedule and cost risk into the proposed scope of work. Much of the information necessary to perform risk analysis becomes available during development of the technical baseline, as the scope of work and WBS are being defined. The analysis of risk can actually be initiated early on during development of the technical baseline and continue throughout development of the complete project baseline. Indeed, best business practices suggest that information crucial to the success of a project be analyzed and incorporated into project planning as soon as it is available and usable
A mathematical model for energetic and economic evaluation of hydroelectric projects is developed. The main advantage of the proposed methodology is that the model considers uncertainty and vagueness which appears during the decision making process. Due to modeling of variables that are non statistical in their character, fuzzy logic approach is fully incorporated in the model. The first step in energetic evaluation of the hydro power projects is determination of the characteristic of the efficiency of the units to be installed in hydro power plants. For this purpose the model which uses the best characteristics of Artificial Network Fuzzy Inference System (ANFIS) is applied. The method is tested on real systems: HPP Tikves- the power plant in operation and HPP Kozjak - the power plant in construction. The results obtained from practical implementation show that the proposed approach gives superior results than classical polynomial approximation. The model for determining the consumption characteristic of hydro power plant is developed by Sugeno Fuzzy Logic System with polynomials in the consequent part of the rules. Model takes into account the variable gross head of HPP, as well as, the number of units which will be in operation for given output. Modeling of the gross head and power output are performed by expert's design membership functions. This model is practically applied on HPP Tikves for determination of the consumption characteristic for several gross head. The plausible yearly production of electricity from hydro power project, which is important for estimation of the benefit from the project, is calculated by mixed fuzzy-statistical model. hi this approach fuzzy set of the inflow is constructed according to the statistical parameters. The calculation of the production of electricity is realized for a several hydrological conditions which are described by linguistic variables. Finally, Mamdani Fuzzy Inference System with fuzzy number in consequent part
Dynamic economic dispatch (DED) plays an important role in power system operation, which is a complicated non-linear constrained optimization problem. It has nonsmooth and nonconvex characteristic when generation unit valve-point effects are taken into account. This paper proposes a modified differential evolution approach (MDE) to solve DED problem with valve-point effects. In the proposed MDE method, feasibility-based selection comparison techniques and heuristic search rules are devised to handle constraints effectively. In contrast to the penalty function method, the constraints-handling method does not require penalty factors or any extra parameters and can guide the population to the feasible region quickly. Especially, it can be satisfied equality constraints of DED problem precisely. Moreover, the effects of two crucial parameters on the performance of the MDE for DED problem are studied as well. The feasibility and effectiveness of the proposed method is demonstrated for application example and the test results are compared with those of other methods reported in literature. It is shown that the proposed method is capable of yielding higher quality solutions
Belokrylova Olga, S.
Full Text Available It is shown that the innovative activity of universities in Russia is always accompanied by the organizational changes carried out in the framework of the concept of stage-by-stage approach – a combination of natural and subjectively rational principle and based on intra-organizational integration of all subjects of University ethos for joint decisions in the field of organizational change. The authors analyze the mission transformation of universities determined by formation of information society which now is including not only development of the human capital, but also creation of knowledge as the competitive product possessing the essential production and social importance.
Bischoff, Joerg; Hehl, Karl
Eigenvalue computation is an important part of many modal diffraction methods, including the rigorous coupled wave approach (RCWA) and the Chandezon method. This procedure is known to be computationally intensive, accounting for a large proportion of the overall run time. However, in many cases, eigenvalue information is already available from previous calculations. Some of the examples include adjacent slices in the RCWA, spectral- or angle-resolved scans in optical scatterometry and parameter derivatives in optimization. In this paper, we present a new technique that provides accurate and highly reliable solutions with significant improvements in computational time. The proposed method takes advantage of known eigensolution information and is based on perturbation method. PMID:21532698
In this and previous efforts ECON has provided economic assessment of a fusion research program. This phase of study focused on two tasks, the first concerned with the economics of fusion in an economy that relies heavily upon synthetic fuels, and the second concerned with the overall economic effects of pursuing soft energy technologies instead of hard technologies. This report is organized in two parts, the first entitled An Economic Analysis of Coproduction of Fusion-Electric Energy and Other Products, and the second entitled Arguments Associated with the Choice of Potential Energy Futures
Do, Truong Xuan; Lim, Young-Il; Jang, Sungsoo; Chung, Hwa-Jee
A hierarchical four-level approach to determine economic potential (4-level EP) is proposed for preliminary techno-economic analysis of new processes. The 4-level EP includes input/output structure, process flow structure, heat integration (HI), and economic feasibility. Two case studies on a 30.2 t/d (or 12.7 million l/yr) bioethanol plant with and without jet fuel production from palm empty fruit bunches (EFB) were investigated by applying the 4-level EP. The plant flowsheet was established based on experiments in a 0.1t/d pilot plant, including sequential dilute acid and alkali pretreatment, and separate hydrolysis and fermentation (SHF). EP approached a more reliable value through the hierarchical 4-level EP. The heating energy was reduced considerably by HI. The product value was estimated at $0.8-$1.3/kg of equivalent bioethanol. It was suggested through sensitivity analysis that a large plant size, enhanced production yields, and capital cost reduction were necessary for the lignocellulosic bioethanol production to be profitable. PMID:25898083
de Groot, Lennart
The accuracy of models describing rapid changes in the geomagnetic field over the past millennia critically depends on the availability of reliable paleointensity estimates. Over the past decade methods to derive paleointensities from lavas (the only recorder of the geomagnetic field that is available all over the globe and through geologic times) have seen significant improvements and various alternative techniques were proposed. The 'classical' Thellier-style approach was optimized and selection criteria were defined in the 'Standard Paleointensity Definitions' (Paterson et al, 2014). The Multispecimen approach was validated and the importance of additional tests and criteria to assess Multispecimen results must be emphasized. Recently, a non-heating, relative paleointensity technique was proposed -the pseudo-Thellier protocol- which shows great potential in both accuracy and efficiency, but currently lacks a solid theoretical underpinning. Here I present work using all three of the aforementioned paleointensity methods on suites of young lavas taken from the volcanic islands of Hawaii, La Palma, Gran Canaria, Tenerife, and Terceira. Many of the sampled cooling units are <100 years old, the actual field strength at the time of cooling is therefore reasonably well known. Rather intuitively, flows that produce coherent results from two or more different paleointensity methods yield the most accurate estimates of the paleofield. Furthermore, the results for some flows pass the selection criteria for one method, but fail in other techniques. Scrutinizing and combing all acceptable results yielded reliable paleointensity estimates for 60-70% of all sampled cooling units - an exceptionally high success rate. This 'multi-method paleointensity approach' therefore has high potential to provide the much-needed paleointensities to improve geomagnetic field models for the Holocene.
The economic planning problem associated to the expansion and operation of electrical power systems is considered in this study, represented for a vectorial objective function in which the minimization of resources involved and maximization of attended demand constitute goals to be satisfied. Supposing all the variables involved with linear characteristic and considering the conflict existing among the objectives to be achieved, in order to find a solution, a multi objective linearized approach is proposed. This approximation utilizes the compromise programming technique and linear programming methods. Generation and transmission are simultaneously considered into the optimization process in which associated losses and the capacity of each line are included. Illustrated examples are also presented with results discussed. (author)
This study combines qualitative and quantitative research methods to explain which factors contribute to a problem-free or problematic functioning of neighbourhoods in general and especially of Dutch neighbourhoods that were built in the first years after World War II. An important part of the book
The options available to Energy Service Companies when improving the energy performance of an existing building are often driven by short-term payback cycles. The value of a measure is based on how quickly it pays for itself. The more quickly the energy savings created by the measure exceed the cost of purchasing and installing the measure, the more comfortable the engineer feels recommending that improvement. In the best cases, the short-term approach will quickly retire the debts associated with a particular retrofit and provide a dependable, albeit limited net savings stream for the property owner. The engineer has obtained energy savings for his client. The problem with this short-term approach is that it automatically eliminates other conservation measures which, over longer time horizons, could add far more value for the customer. The installation of new, extremely energy efficient replacement windows is a case in point. During preliminary discussions with our clients, (typically Public Housing Authorities or owners of subsidized, multi-family housing), the conversation eventually turns to the issue of replacement windows. The perception is that new windows are a luxury. The decision to install new windows is driven by maintenance costs and, in some cases, resident complaints over operability or draftiness associated with the existing windows. Typically the windows are not handled as part of the mainstream energy conservation program. If the client has already installed new windows, he probably based his selection on the low bidder of a unit that has marginal thermal performance. Every property has a budget and compromises must often be made to meet budgets. The purchaser may have not gotten the Cadillac of windows, but at least he got a good deal on the window that he did buy. His maintenance problems have been solved for the near term and resident complaints have gone down, for now
House, R; McDowell, H; Peters, M; Heimlich, R
Agricultural pollution of the environment is jointly determined by economic decisions driving land use, production practices, and stochastic biophysical processes associated with agricultural production, land and climate characteristics. It follows that environmental and economic statistics, traditionally collected independently of each other, offer little insight into non-point pollutant loadings. We argue that effective policy development would be facilitated by integrating environmental and economic data gathering, combined with simulation modelling linking economic and biophysical components. Integrated data collection links economics, land use, production methods and environmental loadings. An integrated economic/biophysical modelling framework facilitates policy analysis because monetary incentives to reduce pollution can be evaluated in the context of market costs and returns that influence land use and production activity. This allows prediction of environmental and economic outcomes from alternative policies to solve environmental problems. We highlight steps taken to merge economic and biophysical modelling for policy analysis within the Economic Research Service of the United States Department of Agriculture. An example analysis of a policy to reduce agricultural nitrogen pollution is presented, with the economic and environmental results illustrating the value of linked economic and biophysical analysis. PMID:10231835
This study demonstrates a new alternative method for valorizing the natural heritage of various economically and environmentally important ecosystems. It was conducted in the Piedras Blancas, Antioquia watershed and considered the degree of conservation of the area and its capacity for supporting humans, by means of extractive economic activities. In this way the ecosystem itself provides a natural offer of goods and services and therefore a good approximation of its economic value
Highlights: • Environmental/economical scheduling of energy and reserve. • Simultaneous participation of loads in both energy and reserve scheduling. • Aggregate wind generation and demand uncertainties in a stochastic model. • Stochastic scheduling of energy and reserve in a distribution system. • Demand response providers’ participation in energy and reserve scheduling. - Abstract: In this paper a stochastic multi-objective economical/environmental operational scheduling method is proposed to schedule energy and reserve in a smart distribution system with high penetration of wind generation. The proposed multi-objective framework, based on augmented ε-constraint method, is used to minimize the total operational costs and emissions and to generate Pareto-optimal solutions for the energy and reserve scheduling problem. Moreover, fuzzy decision making process is employed to extract one of the Pareto-optimal solutions as the best compromise non-dominated solution. The wind power and demand forecast errors are considered in this approach and the reserve can be furnished by the main grid as well as distributed generators and responsive loads. The consumers participate in both energy and reserve markets using various demand response programs. In order to facilitate small and medium loads participation in demand response programs, a Demand Response Provider (DRP) aggregates offers for load reduction. In order to solve the proposed optimization model, the Benders decomposition technique is used to convert the large scale mixed integer non-linear problem into mixed-integer linear programming and non-linear programming problems. The effectiveness of the proposed scheduling approach is verified on a 41-bus distribution test system over a 24-h period
Highlights: → We proposed a fast method to get feasible solution and avoid futile search. → The method dramatically improves search efficiency and solution quality. → Applied to solve constrained ED problems of power systems with 6 and 15 unit. → Superiority of this method in both aspects of financial and CPU time is remarkable. - Abstract: This paper proposes a new approach and coding scheme for solving economic dispatch problems (ED) in power systems through an effortless hybrid method (EHM). This novel coding scheme can effectively prevent futile searching and also prevents obtaining infeasible solutions through the application of stochastic search methods, consequently dramatically improves search efficiency and solution quality. The dominant constraint of an economic dispatch problem is power balance. The operational constraints, such as generation limitations, ramp rate limits, prohibited operating zones (POZ), network loss are considered for practical operation. Firstly, in the EHM procedure, the output of generator is obtained with a lambda iteration method and without considering POZ and later in a genetic based algorithm this constraint is satisfied. To demonstrate its efficiency, feasibility and fastness, the EHM algorithm was applied to solve constrained ED problems of power systems with 6 and 15 units. The simulation results obtained from the EHM were compared to those achieved from previous literature in terms of solution quality and computational efficiency. Results reveal that the superiority of this method in both aspects of financial and CPU time.
This study combines qualitative and quantitative research methods to explain which factors contribute to a problem-free or problematic functioning of neighbourhoods in general and especially of Dutch neighbourhoods that were built in the first years after World War II. An important part of the book is about the development of measuring instruments. Special attention is given to the development of a risk scale that offers researchers and policymakers the opportunity to distinguish on a metric ...
Starting in 1991, the French and German cooperation led to common work based on the experience of the two designers FRAMATOME and SIEMENS KWU with all their know how, the most important utilities in France and Germany operating NPP and the technical supports of the Licensing Authorities GRS and IPSN. The conclusion of that work was the issue in November 1997 and February 1999 respectively of two Basic Design reports for a European Pressurized Reactor (EPR) with a power of 4250 MWth and 4900 MWth. The Basic Design approach was led under two key items: Enhancement of the overall safety level by implementation of design measures to: make the plant less dependant to common cause failures; practically eliminate all high pressure core melt sequences which could lead to important radioactive releases to the environment; implement specific systems to face severe accident situation with low-pressure core melt. Use of the many years of experiences in two different nuclear designs is to reach an overall availability figure over 91%, partly due to design improvements on the safety level. With such an objective, demonstrated by feedback of experience on already operating plants, the EPR project can be proposed as a competitive alternative to the most recent fossil plants. (author)
Cutler, David M; Jessup, Amber I; Kenkel, Donald S; Starr, Martha A
The question of how to evaluate lost consumer surplus in benefit-cost analyses has been contentious. There are clear health benefits of regulations that curb consumption of goods with health risks, such as tobacco products and foods high in fats, calories, sugar, and sodium. Yet, if regulations cause consumers to give up goods they like, the health benefits they experience may be offset by some utility loss, which benefit-cost analyses of regulations need to take into account. This paper lays out the complications of measuring benefits of regulations aiming to curb consumption of addictive and habitual goods, rooted in the fact that consumers' observed demand for such goods may not be in line with their true preferences. Focusing on the important case of tobacco products, the paper describes four possible approaches for estimating benefits when consumers' preferences may not be aligned with their behavior, and identifies one as having the best feasibility for use in applied benefit-cost analyses in the near term. PMID:27102854
Full Text Available The investment takes the form of sums of money spent for the acquisition of capital goods, changes in business inventories, and the purchases of new residential housing that are not currently consumed, but will be used in the future for the growth of the wealth. The work covered by this study aims to identify the model that presents, in the best possible way, the method of investment’s calculation and to determine the factors of influence. In the first part, the investment is analyzed as a linear function dependent on the interest rate; and the second part implies a new model for determining long-term investments.
"This paper proposes a socio-psychological approach for empirical research into the influence of civil society contexts on the practices of individual economic actors. This methodological approach is based on social theories that explicitly take into account the link between structure and agency, and the paper explains how such framework can be utilised in qualitative interview-based studies. To illustrate the usefulness of such socio-psychological approach, the paper reports on the findings ...
This paper presents the design overview and approach to addressing the aforementioned economic challenges for two Advanced BWR designs. The first plant is the ABWR and the second is the ESBWR. The ABWR relies on proven technology and components and an extensive infrastructure that has been built up over the last 20 years. Because it has proven and standards safety systems it has very limited uncertainty regarding licensing. Finally, it relies on the economies of scale and overall design flexibility to improve the overall economics of power generation. The ESBWR on the other hand has taken an innovative approach to reduce systems and components to simplify the overall plant to improve plant economics. The overall plant design is indeed simpler, but improved economics required reliance on some economies of scale also. This design embodied in the ESBWR, also has minimized the overall development cost by utilizing features and components from the ABWR and SBWR technology programs
Zandersen, Marianne; Bartczak, Anna; Czajkowski, Mikołaj;
The aim of this guidance document is to provide forest practitioners, decision makers and forest owners insights into the various economic instruments available to enhance the non-market ecosystem provision of forests such as a high quality biodiversity; enhanced carbon sequestration; improved...... with ecosystem degradation and iii) by recognising the substantial economic and welfare benefits of better management of ecosystems in forests. Ecosystem services contribute to economic welfare in two ways: • by contributing to the generation of income and wellbeing; and • by preventing damages that...... initiatives it is therefore essential to consider trade offs and synergies between the complex interplay between ecosystem goods and services within an ecosystem,...
Roman Michailovich Kachalov
Full Text Available Prospects of the methods of the analysis and improvement of quality of governance the socio-economic systems application, based conceptual provisions of the system theory of economics, multilevel stratification of the economic space and the operational economical risk management theory are considered. For mesoeconomics, the types of system resources of the economy are defined. Also, it is analyses the influence on the quality of governance socio-economic region development the disparity of different types of system economical resources. Potential possibilities of the improvement of quality of governance due to thinner stratification of economical space and improvement the interaction parameters of the main actors of regional economic space are revealed. Leaning on the operational theory of risk management, ways of justification of administrative, strategic decisions by identification of the relevant economic risk factors and on the basis of received information development the program of anti-risk measures are offered. The methodical solutions promoting successful introduction of considered tools in practice of regional government are proposed.
Eu.V. Mishenin; I.I. Koblianska
The aim of the article. The article highlights the lack of effectiveness of existing system of education management in Ukraine from its basic function performance – to satisfy the needs of social and economic system of human resources, according to the required quantity, quality, educational culture, right place and time with the lowest public costs. The results of the analysis. The article is focused on the forming of organizational and economic bases of the use of logistic approach in th...
The self-employment rate includes entrepreneurs out of opportunity and entrepreneurs out of necessity. While the effect of opportunity entrepreneurs on economic development should be positive, there should be no or a negative effect of necessity entrepreneurship. We use a geographically weighted regression (GWR) approach to analyze whether the effect of self-employment on economic development is heterogeneous across European NUTS-2 regions. We find that regions having a significant positive e...
Hoikkanen, Anssi; Bacigalupo, Margherita; Lusoli, Wainer; Maghiros, Ioannis; Nikolov, Stavri
This paper discusses the economics of electronic identity (eIdentity) from both theoretical and practical perspectives. Personal identity data are becoming increasingly important in online transactions, and they have never been monetised to the extent they are today. Consequently, there is a need for an improved understanding of the economic externalities resulting from the electronic use of identities in transactions. In this context, we distinguish four main theoretical approaches for under...
Niyato, D.; Lu, X.; Wang, P.; Kim, D I; Han, Z.
Internet of things (IoT) has been proposed to be a new paradigm of connecting devices and providing services to various applications, e.g., transportation, energy, smart city, and healthcare. In this paper, we focus on an important issue, i.e., economics of IoT, that can have a great impact to the success of IoT applications. In particular, we adopt and present the information economics approach with its applications in IoT. We first review existing economic models developed for IoT services....
Full Text Available There are several ways of using logging residues, and the two most common ones in the State Forests are wood chip production for energy purposes by mobile machinery and crushing by tractor-powered crushers. In this research, an economy-based approach was used to compare these methods and assess whether chip production is superior to crushing for clearing a felling area. The average revenues from the sale of wood biomass in the form of wood chips and the average costs of crushing in the Pomorze Forest District were analysed for the period from January 2012 until June 2014. Both revenues and costs (such as fuel, operator’s wage, piling costs, depreciation, insurance and garaging costs were extracted from the State Forests’ database using data-mining software.
Full Text Available John Dewey is one of the most significant figures in pragmatist philosophy, an approach which he systematically applied to the study of economic, social and cultural structure. In our work, we will focus on the main aspects of Dewey’s approach to the study of aspects that make up “human nature” and how do they interact with the characteristics of the cultural context. We will illustrate how the concepts elaborated by Dewey can contribute to the heterodox analysis of a host of economic and social issues. Dewey highlights the crucial role of public policies for facilitating the development of volunteer associations in all areas of the social structure. In the analysis of these aspects, Dewey’s key contribution lies in removing the concepts of democracy and participation from the limbo of abstraction in which they tended to be confined by previous approaches and connecting them to the evolution of economic and social forms.
Full Text Available Thorstein Veblen, a founder of original or old institutional economics, combined social and evolutionary thought in his institutionalist approach to dealing with psychological, social, and economic issues. The psychological content of Veblen's writings takes instinct and habits into consideration. The economic literature on the psychological content of Veblen's writings has focused on habits, despite the importance of instincts in Veblen's works. This paper attempts to discuss Veblen's notion of instincts in order to make its role clearer in his approach to conspicuous consumer decision making. It discusses the role of instincts, the instinct of workmanship, the relationship between habits and instincts, and their influence on the conspicuous consumer. Consequently, this paper contributes to a better understanding of how inner forces and socialization culminate in behavior in Veblen's conspicuous consumer approach.
There are no current markets for the management and restoration of natural streams. However, economic elements tend to play an increasingly important role when it comes to decisions about river management activities. Although preference structures of market consumers can be analyzed using prices, there are several short-comings in using this technique for goods with no or an insufficient market. This is especially true for 'natural streams'. The non-existence of market prices for goods or their parts does not mean that they do not have a value or that there is no preference structure for them. After an introductory discussion of ethical and value issues, specific methods for evaluating and analyzing the willingness-to-pay for natural streams and theirs restoration are developed further. Using direct interview techniques, locals in three different watersheds in Upper Austria are ask for their preferences and social pricing of natural streams and river management options. The areas the interviews were conducted in, represent a watershed dominated by intensive agricultural and residential uses, another watershed typical for a rural community and a third representing a watershed of a relatively pristine river of the Northern Alpine limestone range mainly used by forestry and tourism. Demographic data, eco-morphological stream characteristics and preferences of the interviewed about elements of a natural stream, user and non-user values were linked and analyzed. The results of a personal interviewing technique conducted in these watersheds showed to be capable to capture the preference structure in small watersheds and may offer some help for decision-making concerning river management issues. (author)
Modern society is characterised not only by a fascination with scientific technology as a means of solving all problems, especially those that stand in the way of material progress (technicism), but also by an obsessive interest in everything that has to do with money (economism or mammonism). The article discusses the relationship between technicism and economism, on the basis of their relationship to utilitarian thinking: the quest for the greatest happiness for the greatest number of peopl...
Kirshen, Paul H.; Strzepek, Kenneth, M.
demands to river basins to create hydro-economic zones that respect as much as possible both political and hydrologic integrity in different models. - To minimize pre-processing of data and add increased flexibility to modeling water resources and uses, it is recommended that water withdrawal demands be modeled, not consumptive requirements even though this makes the IAM more complex. - IAMs must consider changes in water availability for irrigation under climate change; ignoring them is more inaccurate than ignoring yield changes in crops under climate change. - Determining water availability and cost in river basins must include modeling streamflows, reservoirs and their operations, and ground water and its interaction with surface water. - Scale issues are important. The results from condensing demands and supplies in a large complex river basin to one node can be misleading for all uses under low flow conditions and instream flow uses under all conditions. Monthly is generally the most accurate scale for modeling river flows and demands. Challenges remain in integrating hydrologic units with political boundaries but the gridded approach to hydrologic modeling allows flexibility in aligning basin boundaries with political boundaries. - Using minimal reservoir cost data, it is possible to use basin topography to estimate reservoir storage costs. - Reservoir evaporation must be considered when assessing the usable water in a watershed. Several methods are available to estimate the relationship between aggregated storage surface area and storage volume. - For existing or future IAMs that can not use the appropriate aggregation for water, a water preprocessor may be required due the finer scale of hydrologic impacts.
Bhat; Bergstrom; Teasley; Bowker; Cordell
/ This paper describes a framework for estimating the economic value of outdoor recreation across different ecoregions. Ten ecoregions in the continental United States were defined based on similarly functioning ecosystem characters. The individual travel cost method was employed to estimate recreation demand functions for activities such as motor boating and waterskiing, developed and primitive camping, coldwater fishing, sightseeing and pleasure driving, and big game hunting for each ecoregion. While our ecoregional approach differs conceptually from previous work, our results appear consistent with the previous travel cost method valuation studies.KEY WORDS: Recreation; Ecoregion; Travel cost method; Truncated Poisson model PMID:9419285
Kümmel, Reiner; Ayres, Robert U.; Lindenberger, Dietmar
Energy plays only a minor role in orthodox theories of economic growth, because standard economic equilibrium conditions say that the output elasticity of a production factor, which measures the factor's productive power, is equal to the factor's share in total factor cost. Having commanded only a tiny cost share of about 5 percent so far, energy is often neglected altogether. On the other hand, energy conversion in the machines of the capital stock has been the basis of industrial growth. How can the physically obvious economic importance of energy be reconciled with the conditions for economic equilibrium, which result from the maximization of profit or overall welfare? We show that these equilibrium conditions no longer yield the equality of cost shares and output elasticities, if the optimization calculus takes technological constraints on the combinations of capital, labor, and energy into account. New econometric analyses of economic growth in Germany, Japan, and the USA yield output elasticities that are for energy much larger and for labor much smaller than their cost shares. Social consequences are discussed.
Wachenheim, Cheryl J.
This work was published in the Review of Agricultural Economics. See Wachenheim, C.J. 2009. Final Exam Scores in Introductory Economics Courses: Effect of Course Delivery Method and Proctoring. Review of Agricultural Economics 31(3), pp. 640-652.
This paper presents a state of the art of operations research techniques applied in petroleum allocation, namely mathematical programming methods, with principal attention directed toward linear programming and nonlinear programming (including quadratic programming). Contributions to the economics of petroleum allocation are discussed for international trade, industrial organization, regional/macro economics, public finance and natural resource/environmental economics
Decisions to produce and consume useful forms of energy will better reflect society's desire for environmental quality by internalizing the external costs of production. Internalization of external environmental costs may significantly affect decisions regarding selection of the type of the energy system for a particular application, as well as the design and operation of the system. In the present work, main classes of economic approaches for environmental protection are presented and critically reviewed. A procedure is proposed in order to take into consideration the environmental impacts in the economic analysis of energy systems. The analytical formulation of the procedure is followed by a numerical example. Application of the method reveals the critical values of environmental penalties that result in a break-even operation of the particular system. Also, it is shown that the proposed procedure can be used as a proxy method to calculate environmental externalities for a particular system in a given environment. In addition, by assessing the unit cost of reducing pollutants by abatement technologies, the method can turn into a useful tool at the hands of those seeking for a sound basis to set environmental charges and incentives. If, on the other hand, the environmental and social cost of a pollutant is known, then the method can be used to reveal the type and level of the incentive that the national economy would be willing to provide. 17 refs, 3 figs, 2 tabs
Local approach methods have evolved from damage mechanics models to means of providing quantified estimates of material failure behavior under various rupture mechanisms. High emphasis has been given to cleavage initiation, usually considered to induce the most profound risks to structural integrity. Overall, research has lately focused on comprehending the micromechanical background of ductile and brittle failure models and evaluation of their performance. The results have demonstrated that the promise of material parameter and failure evaluation transferability can be met, even though developments within the material models themselves are required. Current paper presents the latest results attained with respect to fracture behavior in the ductile to brittle transition and upper shelf temperature regions. (orig.)
Claudio Lupi; Patrizia Ordine
In this paper we show that phase-scrambling bootstrap offers a natural framework for asymmetry testing in economic time series. A comparison with other bootstrap schemes is also sketched. A Monte Carlo analysis is carried out to evaluate the size and power properties of the phase-scrambling bootstrap-based test.
Sprigg, James A.; Pryor, Richard J.; Jorgensen, Craig Reed
We are extending the existing features of Aspen, a powerful economic modeling tool, and introducing new features to simulate the role of confidence in economic activity. The new model is built from a collection of autonomous agents that represent households, firms, and other relevant entities like financial exchanges and governmental authorities. We simultaneously model several interrelated markets, including those for labor, products, stocks, and bonds. We also model economic tradeoffs, such as decisions of households and firms regarding spending, savings, and investment. In this paper, we review some of the basic principles and model components and describe our approach and development strategy for emulating consumer, investor, and business confidence. The model of confidence is explored within the context of economic disruptions, such as those resulting from disasters or terrorist events.
Journal rankings based on citation indexes are widely used in the economics field for global top journals. We propose an alternative way to rank journals based on the publishing behavior of top ranked authors. We justify this approach by depicting the scientific publishing market as following a matching process. Compared to the citation approach, the methodology that we propose has comparative advantages in terms of time effort to produce national and subdiscipline rankings, and it makes it p...
Sandal, Leif Kristoffer; Berge, Gerhard
Dynamic optimization problems covers a great class of problems in management science and technology. The classical problem formulations being the variational approach as in classical mechanics, like Hamilton's principle and the optimal control theory in economics as the Pontryagin's maximum principle. In this account we start with a general problem formulation as an alternative to an approach based on solving differential equations. We focus on creating an analytical environment aimed at deri...
Two methods for evaluating the economic competitive ability of different type power stations are introduced which are: (1) Present method used in China; and (2) International prevailing method (UNIPEDE). A nuclear power station and a coal-fired power station with typical comparable parameters were selected to calculate their economic characterictics by using these two methods. Results obtained show opposite conclusions from these two methods. Analysis indicated that UNIPEDE method is a scientific and impartial one and it is suggested to use UNIPEDE method in evaluating the economic competitive ability of different type power stations in China
Full Text Available Central Bank of Indonesia with dual banking system – i.e Shariah and Conventional Bank – keep on developing system that considered as an answer to generate the national economic growth. One of the banking activities that emphasized by the Central Bank of Indonesia is fund distribution through either conventional bank credit or shariah bank fi nancing. Having the Experimental Economic Approach based on Induced Value Theory and employing ANOVA, this paper found that shariah bank musharakah fi nancing system would come up with higher profi t opportunity compare to conventional credit system. One main reason is that musharakah fi nancing in shariah bank applies profi t and lost sharing (PLS scheme so that will not be a burden to the customer when he fi nd low profi t.Keywords: Credit Loan, Musharakah Financing, Induced Value Theory, Experimental Economic Approach, Analysis of Variance (ANOVA.
Simbotin, I.; Shu, D.; Côté, R.
We have uncovered a linear equation for the envelope function--fully equivalent with the original non-linear equation of Milne's--and have implemented a highly accurate and efficient numerical method for computing the envelope and the associated phase. Consequently, we obtain a high precision parametrization of the wavefunction, within a very economical approach. The key ingredients are: (i) straightforward optimization for smoothness, and (ii) Chebyshev polynomials as the workhorse for solving integro/differential equations. The latter also give a built-in interpolation, and allow for developing numerical tools that are robust, accurate, and convenient. Partial support from the US Army Research Office (Grant No. W911NF-13-1-0213), and from NSF (Grant No. PHY-1415560).
A computer code has been developed to evaluate the potential economic losses caused by a dam failure. The approach is based largely on the dual kriging technique which is a geostatistical method developed for mining applications. It can be used to interpolate the value of a given property based on the value of the same property specified at various experimental points. Kriging techniques are first used to define the natural ground model based on available information. This can be either contour lines digitized from existing maps, bathymetric cross sections or survey data. The terrain model is then used to generate the cross sections required for hydraulic analysis. The simulation of the flooding process resulting from the failure of an upstream dam can be performed using the National Weather Service Dambreak Flood Forecasting Model. The resulting one dimensional water profile is extended laterally to obtain the water surface for each time step. The extension of the flooded area is easily determined by calculating the intersection of the ground surface with the water surface. The evolution of the flooded area with time can be used to set up an emergency evacuation plan. Economic losses are evaluated by mapping property values as thematic information in the data base. The intensity of damage is calculated as a function of water velocity and depth, and economic losses are determined by integrating this over the flooded area weighted by the intensity of the damage. 8 refs., 4 figs., 4 tabs
Full Text Available This article tries to show that there are alternative approaches to the economic theory, besides the well-known economic schools, Classicism, Neoclassicism and Keynesianism. The neoclassical principles allow a formalization – widely accepted by experts – that provide effective tools for measuring the effects of the economic activity. The economic science pays a special attention to the study of the economic agents’ behaviors, and to the economic results obtained by them through economic activity. Any human science uses principles and works with assumptions, and the neoclassical assumptions have generated efficient tools for quantifying the economic outcomes, and for accounting the economic growth. But these hypothesis, such as the assumption of economic agents’ rationality, allow a very limited understanding of the behaviors of economic agents within the markets. The recent invention of the Nuclear Magnetic Resonance device, allowed the emrgence of a new scientific paradigm, the development of neurosciences. Researchers can observe at a high level of graphic detail various types of activities that occur in the human brain, and some economists have introduced in the study of the economic theory, for example, the assumption that the consumer is driven by emotions when purchasing quantities of goods and services. So, economists may look for additional theories to explain the behavior of the economic agents. An increasingly importance is given to the theoretical contributions built on the work of the economist Joseph Alois Schumpeter, who has an original economic approach based on his own principles. It is proposed to focus the attention on a mesoeconomic vision about the industry, to understand how resources are being allocated and reallocated between companies, and to study the economic processes of evolution, which are influenced by the emergence and dissemination of the innovations. It is supposed that the price is allocating the
Three-dimensional seismic surveys, designed to meet exploration requirements, were conducted in 465 OCS blocks in the Gulf of Mexico, primarily in the deep-water Flexure trend. The geology is very complex, with both salt-induced structures and structures similar to the Rocky Mountain Overthrust belt. To avoid the prohibitive costs in collecting 3-D seismic data at a spatial sample rate required to image the wide range of dips, interpolation methods, based on pattern recognition techniques, were used with a relatively sparsely sampled data collection grid. Within limits, the method is capable of interpolating both crossing and aliased seismic events. The economic impact of this approach is significant because it essentially reduces the cost of 3-D acquisition to the level normally associated with detailed 2-D surveying. However, the familiar benefits of 3-D migration are retained. Using interactive interpretation systems, the results are presented as a comprehensive series of time and event amplitude maps for structural and preliminary stratigraphic mapping. Regional amplitude maps illustrate a combination of structural, stratigraphic, and other geologic phenomena. In addition to conventional structural mapping, the 3-D data may be used to assist in understanding the salt growth history, especially its effect on sedimentation and hydrocarbon potential. It may provide a significant link between regional geology work and the detailed analysis required to develop drillable prospects.
Flégl, Martin; Vltavská, Kristýna
The paper evaluates research and teaching efficiency at faculties of economics in the public higher education institutions in the Czech Republic. Evaluation is provided in two periods between the years 2006-2010 and 2007-2011. For this evaluation the Data Envelopment Analysis and Index approach are used. Data Envelopment Analysis measures research…
King, Dominic; Greaves, Felix; Vlaev, Ivo; Darzi, Ara
Policies that change the environment or context in which decisions are made and "nudge" people toward particular choices have been relatively ignored in health care. This article examines the role that approaches based on behavioral economics could play in "nudging" providers and patients in ways that could slow health care spending growth. The basic insight of behavioral economics is that behavior is guided by the very fallible human brain and greatly influenced by the environment or context in which choices are made. In policy arenas such as pensions and personal savings, approaches based on behavioral economics have provided notable results. In health care, such approaches have been used successfully but in limited ways, as in the use of surgical checklists that have increased patient safety and reduced costs. With health care spending climbing at unsustainable rates, we review the role that approaches based on behavioral economics could play in offering policy makers a potential set of new tools to slow spending growth. PMID:23569045
Putney, Z.; Been, J.
This paper discusses a commercial approach to the design and fabrication of an economical space power system. With the advent of the space shuttle, steps can be taken to back away from the presently used space qualified approach in order to reduce cost of space hardware by incorporating, where possible, commercial design, fabrication, and quality assurance methods. Cost reductions are projected through the conceptual design of a 2 kW space power system built with the capability for having serviceability. The approach to system costing that has been used takes into account both the constraints of operation in space and commercial production engineering approaches. The cost of this power system reflects a variety of cost/benefit tradeoffs that would reduce system cost as a function of system reliability requirements, complexity, and the impact of rigid specifications. A breakdown of the system design, documentation, fabrication and reliability and quality assurance cost estimates are detailed.
Lybbert, Travis J.; Nikolas J. Zolas
International technological diffusion is a key determinant of cross-country differences in economic performance. While patents can be a useful proxy for innovation and technological change and diffusion, fully exploiting patent data for such economic analyses requires patents to be tied to measures of economic activity. In this paper, we describe and explore a new algorithmic approach to constructing concordances between the International Patent Classification (IPC) system that organizes pate...
The aim of this paper is to re-examine the relationship between electricity consumption, economic growth, and employment in Portugal using the cointegration and Granger causality frameworks. This study covers the sample period from 1971 to 2009. We examine the presence of a long-run equilibrium relationship using the bounds testing approach to cointegration within the Unrestricted Error-Correction Model (UECM). Moreover, we examine the direction of causality between electricity consumption, economic growth, and employment in Portugal using the Granger causality test within the Vector Error-Correction Model (VECM). As a summary of the empirical findings, we find that electricity consumption, economic growth, and employment in Portugal are cointegrated and there is bi-directional Granger causality between the three variables in the long-run. With the exception of the Granger causality between electricity consumption and economic growth, the rest of the variables are also bi-directional Granger causality in the short-run. Furthermore, we find that there is unidirectional Granger causality running from economic growth to electricity consumption, but no evidence of reversal causality. - Highlights: → We re-examine the relationship between electricity consumption, economic growth, and employment in Portugal. → The electricity consumption and economic growth is causing each other in the long-run. → In the short-run, economic growth Granger-cause electricity consumption, but no evidence of reversal causality. → Energy conservation policy will deteriorate the process of economic growth in the long-run. → Portugal should increase investment on R and D to design new energy savings technology.