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Sample records for underlying economic theory

  1. Business strategy and dominant economic theories under critics.

    Directory of Open Access Journals (Sweden)

    Omar Aktouf

    2013-11-01

    Full Text Available In this essay, the author analyses, or more precisely “deconstructs” the essence of thinking about “strategy” and the overall governance of “US type” organizations/dominant neoliberal economic thinking, predominating the current both academic management and applied economics scene. By drawing on a simultaneously historical, heuristic, epistemological, and methodological reading of the dominant work and system on this subject, which he refers to as “Porterism”, the author presents a resolutely critical review of the full range theories of managerial “strategy” as well as those of the most notable author in the field, namely, Michael Porter.

  2. Issues of the economic risks theory under direct taxation

    Directory of Open Access Journals (Sweden)

    Vyacheslav Aleksandrovich Slavin

    2015-09-01

    perturbation described by periodic functions of time their frequency equal to the frequency of technological cycles of the firm production units. The work states a number of correlations between the indicators of production processes and taxation processes. The effect of progressive taxation on the company is described. Scientific novelty for the first time the aricle demonstrates the possibility to theoretically describe the economic risks of the taxation company and to establish the economic nature of their essential characteristics. Practical significance the obtained results allow to form a complex of practical programs aimed at the optimization of the company performance indicators for the purpose of reducing the probability its assets of loss under taxation. nbsp

  3. Economic theories of dictatorship

    OpenAIRE

    Alexandre Debs

    2010-01-01

    This article reviews recent advances in economic theories of dictatorships and their lessons for the political stability and economic performance of dictatorships. It reflects on the general usefulness of economic theories of dictatorship, with an application to foreign relations.

  4. Economic Selection Theory

    DEFF Research Database (Denmark)

    Knudsen, Thorbjørn

    2003-01-01

    principles of variation, continuity and selection, it is argued that economic selection theory should mimic the causal structure of neo-Darwinian theory. Two of the most influential explanations of economic evolution, Alchian's and Nelson and Winter's, are used to illustrate how this could be achieved.......The present article provides a minimal description of the causal structure of economic selection theory and outlines how the internal selection dynamics of business organisations can be reconciled with selection in competitive markets. In addition to generic similarity in terms of the Darwinian...

  5. Contours of New Economic Theory

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    Garry Jacobs

    2015-05-01

    Full Text Available The need for a paradigm change in economic thought has been well established, but the contours and fundamental characteristics of a new paradigm in economic theory are yet to be worked out. This article views this transition as an inevitable expression of the maturation of the social sciences into an integrated trans-disciplinary science of society founded on common underlying principles, premises and processes. It calls for evolution of human-centered, value-based economic theory whose objective is to maximize human economic security, welfare and well-being rather than economic growth. It emphasizes the determinative role of fundamental creative social processes expressing in all fields of human endeavor. It argues for extending the boundaries of economics to encompass the entire gamut of political, legal, social, psychological, intellectual, organizational and ecological factors that directly and indirectly contribute to economic security, welfare and well-being. The article concludes with a list of anticipated practical implications.

  6. Economic Theory and Broadcasting.

    Science.gov (United States)

    Bates, Benjamin J.

    Focusing on access to audience through broadcast time, this paper examines the status of research into the economics of broadcasting. The paper first discusses the status of theory in the study of broadcast economics, both as described directly and as it exists in the statement of the basic assumptions generated by prior work and general…

  7. Privatization in economic theory

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    Drakić Maja

    2007-01-01

    Full Text Available In reality privatization has never occurred according to the handbook rules of ordinary market transactions. Not even in advanced market economies can privatization transactions be described by the Walrasian or Arrowian, or Leontiefian equilibrium models, or by the equilibrium models of the game theory. In these economies transactions of privatization take place in a fairly organic way – which means that those are driven by the dominance of private property rights and in a market economy. But despite this fact Western privatization also some peculiar features as compared to ordinary company takeovers, since the state as the seller may pursue non – economic goals. Changes in the dominant form of property change positions and status of many individuals and groups in the society. That’s why privatization can even less be explained by ordinary market mechanisms in transition countries where privatizing state-owned property have happened in a mass scale and where markets and private property rights weren't established at the time process of privatization began. In this paper I’ll discuss and analyze the phenomenon of privatization in context of different economic theories arguing that empirical results go in favor of the public choice theory (Buchanan, 1978, theory of "economic constitution" (Brennan and Buchanan 1985, (Buchanan and Tullock, 1989, and theory of "collective action" (Olson, 1982. These theories argues that transition from one economic system into another, for example transition from collectivistic, socialistic system into capitalism and free market economy with dominant private property, will not happen through isolated changes of only few economic institutions, no matter how deep that changes would be. In other words privatization can not give results if it's not followed by comprehensive change of economic system because privatized companied wouldn't be able to operate in old environment.

  8. Economic Theory, Economic Reality And Economic Policy

    Directory of Open Access Journals (Sweden)

    Dmitry Evgenievich Sorokin

    2015-03-01

    Full Text Available This paper analyzes the opposition between the «liberals» and «statists» in the Russian political and economic thought. It demonstrates that the economic liberalization is an absolute prerequisite for the transition to sustainable socio-economic development. Such development must rely on investment activities of the state, which in the current circumstances is a necessary but not sufficient measure for reversing the negative trends. The negative developments can be prevented only through implementation, along with the institutional changes in the economic area that form a strata of economically independent entrepreneurs-innovators, of no less profound transformation in political institutions aimed at democratization of public life

  9. Artificial Intelligence and Economic Theories

    OpenAIRE

    Marwala, Tshilidzi; Hurwitz, Evan

    2017-01-01

    The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence such as the swarming of birds, the working of the brain and the pathfinding of the ants. These techniques have impact on economic theories. This book studies the impact of artificial intelligence on economic theories, a subject that has not been extensively studied. The theories that...

  10. Economic Modelling in Institutional Economic Theory

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    Wadim Strielkowski

    2017-06-01

    Full Text Available Our paper is centered around the formation of theory of institutional modelling that includes principles and ideas reflecting the laws of societal development within the framework of institutional economic theory. We scrutinize and discuss the scientific principles of this institutional modelling that are increasingly postulated by the classics of institutional theory and find their way into the basics of the institutional economics. We propose scientific ideas concerning the new innovative approaches to institutional modelling. These ideas have been devised and developed on the basis of the results of our own original design, as well as on the formalisation and measurements of economic institutions, their functioning and evolution. Moreover, we consider the applied aspects of the institutional theory of modelling and employ them in our research for formalizing our results and maximising the practical outcome of our paper. Our results and findings might be useful for the researchers and stakeholders searching for the systematic and comprehensive description of institutional level modelling, the principles involved in this process and the main provisions of the institutional theory of economic modelling.

  11. Organizations, individualism and economic theory

    NARCIS (Netherlands)

    Brouwer, M.

    2012-01-01

    Most economic theory is based on the assumption that economies grow in a linear fashion. Recessions, depressions and (financial) crises are explained by policy mistakes. However, economic development has historically been uneven, and this state of affairs continues today. This book argues that

  12. Economic order quantity (EOQ) by game theory approach in probabilistic supply chain system under service level constraint for items with imperfect quality

    Science.gov (United States)

    Setiawan, R.

    2018-03-01

    In this paper, Economic Order Quantity (EOQ) of probabilistic two-level supply – chain system for items with imperfect quality has been analyzed under service level constraint. A firm applies an active service level constraint to avoid unpredictable shortage terms in the objective function. Mathematical analysis of optimal result is delivered using two equilibrium scheme concept in game theory approach. Stackelberg’s equilibrium for cooperative strategy and Stackelberg’s Equilibrium for noncooperative strategy. This is a new approach to game theory result in inventory system whether service level constraint is applied by a firm in his moves.

  13. Doctrines and Contemporary Economic Theories in the Economic Development

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    Gheorghe Stefan

    2011-04-01

    Full Text Available Contemporary economic theories justify economic polarization, both before and after thesecond world war, through enhanced differences between the rich countries and those in course ofdevelopment. The instrument quantifying this economic gap is represented by the high price forindustrial products and a very low one for essentials thus maintaining at minimal level the purchasingpower of the agrarian countries (of the under-developed states. Through the agency of someinstitutions and specialized organizations like U.N., U.N.E.S.C.O. or the E.U., there are conductedinternational programs for the sectorial support mainly aiming the resolution of all kinds of problems.

  14. Consumer Capital as the Source of Happiness : The Missing Economic Theory Underlying the Income-Happiness Paradox

    NARCIS (Netherlands)

    van Hoorn, André; Sent, Esther-Mirjam

    2016-01-01

    Self-reported happiness does not generally increase with rising income, as established by Richard Easterlin. We argue that the subsequent debate in economics surrounding this income-happiness paradox has paid too little attention to the theoretical foundation for the expected positive relation

  15. Mathematical Methods of Game and Economic Theory

    CERN Document Server

    Aubin, J-P

    1982-01-01

    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.

  16. Economic theory and econometric practice

    DEFF Research Database (Denmark)

    Sauer, Johannes

    Parametric efficiency analysis is one of the most investigated areas in applied pro-duction economics. Nevertheless, the vast majority of empirical studies are not ac-companied by a thorough theoretical interpretation of the underlying functional form and the obtained estimates. The robustness......-ciency estimates. The theoretical concerns are verified by empirical applications con-firming the need for a posteriori checking the regularity of the estimated frontier by the researcher and, if necessary, the a priori imposition of the theoretical require-ments. Bootstrapping based stochastic simulations...

  17. Advertisement Translation under Skopos Theory

    Institute of Scientific and Technical Information of China (English)

    严妙

    2014-01-01

    This paper is an analysis of advertisement translation under skopos theory.It is explained that the nature of advertisement translation under skopos theory is reconstructing the information of the source text to persuade target audience.Three translation strategies are put forward in translating advertisements.

  18. Institutional economics and economic organisation theory: An integrated approach

    NARCIS (Netherlands)

    Slangen, L.H.G.; Loucks, L.A.; Slangen, A.H.L.

    2008-01-01

    This publication presents one of the first attempts to integrate two emerging bodies of economic research: institutional economics and organizational theory. It begins within the framework of neoclassical economics, and then extends the boundaries of this framework to offer answers to questions that

  19. Institutional economics and economic organisation theory : an integrated approach

    NARCIS (Netherlands)

    Slangen, L.H.G.; Loucks, L.; Slangen, A.H.L.

    2008-01-01

    This publication presents one of the first attempts to integrate two emerging bodies of economic research: institutional economics and organizational theory. It begins within the framework of neoclassical economics, and then extends the boundaries of this framework to offer answers to questions that

  20. Economic theory and climate change policy

    International Nuclear Information System (INIS)

    Peters, I.; Ackerman, F.

    1999-01-01

    Our willingness to embrace climate change policies depends on our perception of their benefits and costs. Evaluation of these costs and benefits requires careful economic analysis. Yet the standard tools for such assessment - computable general equilibrium (CGE) models - are inadequate on several grounds. Their underlying theory suffers from well-known logical difficulties; in general, their equilibria may be neither unique, stable, nor efficient. Moreover, real-world phenomena such as increasing returns to scale, learning, and technological innovation are neglected in CGE models. These phenomena make the resulting equilibria in the models inefficient; in the real world they can lock society into sub-optimal technology choices. They introduce uncertainty and path-dependence, annihilating the concept of a single efficient allocation produced by the unfettered market. Yet conventional economics assesses the cost of policies solely on the basis of their departure from a purportedly efficient equilibrium - ignoring deeper structural changes that are often decisive in practice. New socioeconomic theories and models are emerging that allow for bounded rationality, the limiting and enabling character of institutions, technological change, and the complexities and uncertainties in economic evolution. Meanwhile, existing models should be modified to better reflect real-world phenomena and to abandon unfounded assumptions about the inherent ''inefficiencies'' of government intervention in the market. (author)

  1. Theory of Economic Development (Secondary Stage)

    OpenAIRE

    Mashkoor, Aasim; Ahmed, Ovais

    2015-01-01

    This is a secondary stage of theory of economic development. This research study is covering the secondary phase of development which rules the tactical plans of the main strategy. In this stage, the social and economical demands varies from country to country and we have developed the theory according to the Pakistani economic conditions. It requires great a lot of technical and strategic analysis to chose the accurate plans accordingly.

  2. Review of economic theories of regulation

    NARCIS (Netherlands)

    den Hertog, J.A.|info:eu-repo/dai/nl/21319161X

    2010-01-01

    This paper reviews the economic theories of regulation. It discusses the public and private interest theories of regulation, as the criticisms that have been leveled at them. The extent to which these theories are also able to account for privatization and deregulation is evaluated and policies

  3. Impact of Artificial Intelligence on Economic Theory

    OpenAIRE

    Tshilidzi Marwala

    2015-01-01

    Artificial intelligence has impacted many aspects of human life. This paper studies the impact of artificial intelligence on economic theory. In particular we study the impact of artificial intelligence on the theory of bounded rationality, efficient market hypothesis and prospect theory.

  4. Wildland economics: theory and practice

    Science.gov (United States)

    Pete Morton

    2000-01-01

    Since passage of the Wilderness Act, economists have derived the total economic valuation framework for estimating wildland benefits. Over the same time period, policies adopted by public land management agencies have been slow to internalize wilderness economics into management decisions. The lack of spatial resolution and modeler bias associated with the FORPLAN...

  5. ECONOMIC GROWTH THEORIES, CONCEPTUAL ELEMENTS, CHARACTERISTICS

    Directory of Open Access Journals (Sweden)

    Florina, POPA

    2014-11-01

    Full Text Available The approach of economic growth involves understanding the concept and growth factors, respectively, analysing the growth theories, their trend in the context of the development of economic and social life. The economic growth signifies a process aimed at increasing activities in the national economy, expressed by macroeconomic indicators, respectively, the dynamics of the overall Gross Domestic Product or per inhabitant. It can appreciate that, in the short term, this process signifies phases of economic prosperity and on the long-term, expresses an upward trend, a consequence of the succession of increases and decreases. The study presents some elements which outlines the concept of economic growth, that is, definitions, meanings and the main characteristics of the theories of growth, as well as some of its determinant factors. Also, it gives a brief overview of the main theories of economic growth, as they have evolved over time, in line with the economic reality dynamics and the development of the instruments of economic analysis, starting from the classical theories to the new theories and models of economic growth of the modern age.

  6. ECONOMIC THEORY OF LOBBYING: EVALUATION OF ECONOMIC EFFICIENCY

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    Павел Александрович Толстых

    2013-04-01

    Full Text Available In this article the author continues to analyze lobbying with regards to economic paradigm. [The author has started discussing lobbying in terms of economic theory in the article Politico-economic theory of lobbying / / Historical, philosophical, political and legal sciences, culture and art. Theory and practice. Tambov: Gramota, 2013. No 1. Part 2. p. 177-189.] Researcher evaluates the cost effectiveness of the lobbying function. Lobbying is understood as activity of specifically authorized employees of corporations and lobbying firms representing their interests, trade associations. This activity is aimed at improving the profitability of integrated and sustainable business development by representing  long-term, comfortable, predictable system of relationships with the relevant field-specific political stakeholders of the federal and regional levels. The article presents an in-depth analysis of economic concepts of lobbying function.DOI: http://dx.doi.org/10.12731/2218-7405-2013-1-3

  7. ECONOMIC THEORY OF LOBBYING: EVALUATION OF ECONOMIC EFFICIENCY

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    Tolstyh Pavel Aleksandrovich

    2013-01-01

    Full Text Available In this article the author continues to analyze lobbying with regards to economic paradigm. [The author has started discussing lobbying in terms of economic theory in the article Politico-economic theory of lobbying / / Historical, philosophical, political and legal sciences, culture and art. Theory and practice. Tambov: Gramota, 2013. No 1. Part 2. p. 177-189.] Researcher evaluates the cost effectiveness of the lobbying function. Lobbying is understood as activity of specifically authorized employees of corporations and lobbying firms representing their interests, trade associations. This activity is aimed at improving the profitability of integrated and sustainable business development by representing long-term, comfortable, predictable system of relationships with the relevant field-specific political stakeholders of the federal and regional levels. The article presents an in-depth analysis of economic concepts of lobbying function.

  8. Markets and organizations: individualism and economic theory

    NARCIS (Netherlands)

    Brouwer, M.

    2010-01-01

    Economic theory depicts markets and organizations as opposite allocation mechanisms. Market allocation is based on mobility and organization on instruction. The paper argues that markets and organizations are complements in economies that grow through innovation. Diversity of organizations lies at

  9. Economic contract theory tests models of mutualism.

    Science.gov (United States)

    Weyl, E Glen; Frederickson, Megan E; Yu, Douglas W; Pierce, Naomi E

    2010-09-07

    Although mutualisms are common in all ecological communities and have played key roles in the diversification of life, our current understanding of the evolution of cooperation applies mostly to social behavior within a species. A central question is whether mutualisms persist because hosts have evolved costly punishment of cheaters. Here, we use the economic theory of employment contracts to formulate and distinguish between two mechanisms that have been proposed to prevent cheating in host-symbiont mutualisms, partner fidelity feedback (PFF) and host sanctions (HS). Under PFF, positive feedback between host fitness and symbiont fitness is sufficient to prevent cheating; in contrast, HS posits the necessity of costly punishment to maintain mutualism. A coevolutionary model of mutualism finds that HS are unlikely to evolve de novo, and published data on legume-rhizobia and yucca-moth mutualisms are consistent with PFF and not with HS. Thus, in systems considered to be textbook cases of HS, we find poor support for the theory that hosts have evolved to punish cheating symbionts; instead, we show that even horizontally transmitted mutualisms can be stabilized via PFF. PFF theory may place previously underappreciated constraints on the evolution of mutualism and explain why punishment is far from ubiquitous in nature.

  10. An application of fisheries economics theory

    DEFF Research Database (Denmark)

    Frost, Hans Staby; Andersen, Peder; Hoff, Ayoe

    2011-01-01

    discrete-time model. The neo-classical concept of resource rent is maximized by use of various physical measures, such as fishing effort restrictions and fishing quotas, and economic measures, such as property or user rights and taxes. Although theory ranks economic measures above physical measures...

  11. INSTITUTIONAL THEORY OF ECONOMIC REFORMS: BASIC IMPERATIVES

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    Oleg Sergeevich SUKHAREV

    2015-07-01

    Full Text Available The ability of institutional economic theory to explain various kinds of economic reforms (changes on the basis of theoretical ideas about the dysfunction of institutions and systems are investigated. A number of classifications of reforms and dysfunctions is introduced and kinds of institutional efficiency of economic systems are defined. Qualitative regularities of various reforms of the twentieth century in different countries are generalized. A number of criteria of effective institutional reforms, capable to lower the depth and the scale of dysfunctions of the functioning economic subsystems is formed. System approach to the analysis of economic systems reforming with underlining the importance of reform “management” factor which defines productivity of economic development is elaborated. Life cycle of institution and economic system in the process of its reforming is presented and correction of J. Hellmann’s model, describing the reforming logic of economy is made.

  12. Economics and Mathematical Theory of Games

    OpenAIRE

    Ajda Fosner

    2012-01-01

    The theory of games is a branch of applied mathematics that is used in economics, management, and other social sciences. Moreover, it is used also in military science, political science, international relations, computer science, evolutionary biology, and ecology. It is a field of mathematics in which games are studied. The aim of this article is to present matrix games and the game theory. After the introduction, we will explain the methodology and give some examples. We will show applicatio...

  13. Theory of economic cycle: analysis of аustrian school

    OpenAIRE

    Nesterenko, O.

    2008-01-01

    Essence of Austrian theory of economic cycle has been revealed. Differences of Austrian school approaches from theories of economic fluctuations in other streams of economic sciences have been analyzed

  14. Teaching Economic Growth Theory with Data

    Science.gov (United States)

    Elmslie, Bruce T.; Tebaldi, Edinaldo

    2010-01-01

    Many instructors in subjects such as economics are frequently concerned with how to teach technical material to undergraduate students with limited mathematical backgrounds. One method that has proven successful for the authors is to connect theoretically sophisticated material with actual data. This enables students to see how the theory relates…

  15. An Economic Theory of Glass Ceiling

    OpenAIRE

    Paul A. Grout; In-Uck Park; Silvia Sonderegger

    2009-01-01

    In the 'glass ceiling' debate there appear to be two strongly held and opposing interpretations of the evidence, one suggesting it is really the result of gender differences and the other that there is discrimination by gender. This paper provides an economic theory of the glass ceiling and one of the main insights of our analysis is that in some real sense these two interpretations are not in conflict with each other. The glass ceiling emerges as an equilibrium phenomenon when firms compete ...

  16. Soviet theories of economic demography: a survey.

    Science.gov (United States)

    Gregory, P

    1983-06-01

    At this time Soviet demographic scientists maintain the position that population problems may in fact exist temporarily under socialism but that the planning principle will allow society to resolve population problems, through the use of the administrative, moral, and economic levers (subsidies, government policies, propaganda, education) emphasized by Urlanis (1974) and others. For planners to deal effectively with population management, the determinants of fertility and labor force participation must be established. The foundations of Soviet theories of human capital and fertility were laid by several writers. For the sake of simplicity, these are referred to as the Urlanis-Strumilin model, named after 2 pioneer researchers in Soviet demography and manpower economics. The formulations are based upon the writings of Strumlin (1964) and Urlanis (1974), supplemented by writings of numerous other Soviet researchers. Although their models avoid neoclassical terms such as marginal utility and income and price elasticities, they clearly employ these concepts. The Urlanis-Strumilin model, reduced to its basic elements, is a direct household utility maximizing model. The husband and wife, the household decision makers, must select optimal levels of child "quantity," child "quality," leisure, their own human capital (further education and training), and other goods. The Soviet theory recognizes that an increase in household income will increase relatively the demands for income elastic goods. The model postulates that the demand for child quality is inversely related to the price of children. The price of children is the opportunity cost of children, the major element of which is the income foregone by the mother in the course of childbearing and childrearing. The child quantity demand schedule has elastic and inelastic portions. The marginal utility of the 1st child is great. The marginal utilities of higher order children decline substantially. Families with at least 1

  17. Curriculum for the Twenty-First Century: Recent Advances in Economic Theory and Undergraduate Economics

    Science.gov (United States)

    Ferguson, William D.

    2011-01-01

    Undergraduate economics lags behind cutting-edge economic theory. The author briefly reviews six related advances that profoundly extend and deepen economic analysis: game-theoretic modeling, collective-action problems, information economics and contracting, social preference theory, conceptualizing rationality, and institutional theory. He offers…

  18. An economic theory of Islamic finance

    Directory of Open Access Journals (Sweden)

    Mabid Ali Al-Jarhi

    2017-07-01

    Full Text Available Purpose - This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach - Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided. Findings - The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model. Islamic finance can therefore be a candidate as a reform agenda for conventional finance. It opens the door for significant monetary reform in currently prevalent economic systems. Research limitations/implications - The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions. They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application. The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance. Originality/value - The results are unique as they challenge the received doctrine and provide non-religious rationale for Islamic finance.

  19. ECONOMIC STRATEGY CREATED THROUGH THEORY FOCUSED PLANNING

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    Dumitru-Alexandru Bodislav

    2011-06-01

    Full Text Available The research done for this article is following the elaboration of a moldable model on the actual economic context, in which there are considered continuous learning elements on facts and commercial niches, evaluating a business starting from causality diagram and structuring its processes. Analyzing the evolution of a business and on the market in which they are deploying their activity through quantitative and qualitative measurement methods focused on trends. Testing hypotheses and business suppositions that are the main engine of theory focused on planning, a model of creating a strategic management process that will be developed in this article.

  20. Economic game theory for mutualism and cooperation.

    Science.gov (United States)

    Archetti, Marco; Scheuring, István; Hoffman, Moshe; Frederickson, Megan E; Pierce, Naomi E; Yu, Douglas W

    2011-12-01

    We review recent work at the interface of economic game theory and evolutionary biology that provides new insights into the evolution of partner choice, host sanctions, partner fidelity feedback and public goods. (1) The theory of games with asymmetrical information shows that the right incentives allow hosts to screen-out parasites and screen-in mutualists, explaining successful partner choice in the absence of signalling. Applications range from ant-plants to microbiomes. (2) Contract theory distinguishes two longstanding but weakly differentiated explanations of host response to defectors: host sanctions and partner fidelity feedback. Host traits that selectively punish misbehaving symbionts are parsimoniously interpreted as pre-adaptations. Yucca-moth and legume-rhizobia mutualisms are argued to be examples of partner fidelity feedback. (3) The theory of public goods shows that cooperation in multi-player interactions can evolve in the absence of assortment, in one-shot social dilemmas among non-kin. Applications include alarm calls in vertebrates and exoenzymes in microbes. 2011 Blackwell Publishing Ltd/CNRS.

  1. The Crisis in Economic Theory: A Review Essay

    OpenAIRE

    Hoover, Kevin D.

    2015-01-01

    The Great Recession and the financial crisis of 2007-09 prompted ca lls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recen t books: the sociologist Richard Swedberg's The Art of Social Theory and the economist André Orléan's The Empire of Value: A New Foundation for Economics.

  2. "Economics Imperialism", Education Policy and Educational Theory

    Science.gov (United States)

    Allais, Stephanie

    2012-01-01

    This paper examines how economics imperialism (the increasing colonization of other disciplines by neoclassical economics) has affected contemporary education policies. I suggest that an increasing preoccupation with education meeting the needs of the economy, together with the prevalence of economic concepts outside of economics, have contributed…

  3. Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    2008-01-01

    Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the econo......Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity...... are related to expectations formation, market clearing, nominal rigidities, etc. Finally, the general-partial equilibrium distinction is analyzed....

  4. Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    2008-01-01

    Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity in the econo......Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes a correspondence between basic economic concepts and the econometric concepts of the CVAR: The economic relations correspond to cointegrating vectors and exogeneity...... parameters of the CVAR are shown to be interpretable in terms of expectations formation, market clearing, nominal rigidities, etc. The general-partial equilibrium distinction is also discussed....

  5. Financial Markets Interactions between Economic Theory and Practice

    Directory of Open Access Journals (Sweden)

    Mihaela NICOLAU

    2010-12-01

    Full Text Available During the last decades many financial analysts, either theorists or practitioners, have dedicated their studies to the interactions between different financial sectors. The results of these researches confirm that commodities, bonds and stock markets are closely related, therefore a thorough analysis of one should includes considerations of the other two. The aim of this article is to demonstrate that, even if from the theoretical point of view financial markets present typical and strong correlations between them, under economic turmoil the correlations change their signs. Both elementary rules of economic theory and examples with real time series are used in the demonstration. The results of our research emphasize that a simple theoretical analysis of financial markets’ behaviour through inflation and interest rates cannot define the real interactions of the markets and more robust research approaches are required.

  6. INVESTIGATION OF FISCAL AND BUDGETARY POLICIES BASED ON ECONOMIC THEORIES

    Directory of Open Access Journals (Sweden)

    EMILIA CAMPEANU

    2011-04-01

    Full Text Available Empirical analysis of fiscal and budgetary policies cannot be achieved without first knowing how they are viewed in the economic theories. This approach is important to indicate the position and implications of fiscal and budgetary policy tools in the economic theory considering their major differences. Therefore, the paper aims is to investigate the fiscal and budgetary policies based on economic theories such as neoclassical, Keynesian and neo-Keynesian theory in order to indicate their divergent points. Once known these approaches at the economic theory level is easier to establish the appropriate measures taking into consideration the framing of a country economy in a certain pattern. This work was supported from the European Social Fund through Sectoral Operational Programme Human Resources Development 2007-2013, project number POSDRU/89/1.5/S/59184 „Performance and excellence in postdoctoral research in Romanian economics science domain” (contract no. 0501/01.11.2010.

  7. Tracking Gender Equity under Economic Reforms: Continuity and ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Tracking Gender Equity under Economic Reforms: Continuity and Change in South ... She has a master's degree in economics from the Delhi School of Economics ... An IDRC delegation will join international delegates and city representatives ...

  8. The unity of science and economics a new foundation of economic theory

    CERN Document Server

    Chen, Jing

    2016-01-01

    This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us ...

  9. Revisiting the relevance of economic theory to hotel revenue ...

    African Journals Online (AJOL)

    Keywords: economic theory, hotels, revenue management, Big Data, hospitality education ... and the ease and quality in which pricing information is delivered to ...... Cornell Hotel and Restaurant Administration Quarterly, 25(2), 27–40.

  10. Does prospect theory warrant a paradigm shift in the economics of risk?

    Directory of Open Access Journals (Sweden)

    PL Mohapi

    2014-07-01

    Full Text Available This paper assesses whether a paradigm shift should be made from expected utility framework to prospect theory framework – in the economics of choice under risk. A brief overview of the subject is outlined, starting with expected utility theory and noting its descriptive limitations. Proposed theories to make up for these limitations is also provided. Prospect theory emerged as the most serious challenger to expected utility theory. A review of some descriptive predictions of prospect theory, suggests that there is no scientific reason why expected utility should not be ousted from dominance by prospect theory. The shift to prospect theory however is not without costs. Conceptual complexities and non-universality of application associated with prospect theory should be embraced with the shift while not entirely abandoning expected utility theory.

  11. On economic applications of evolutionary game theory

    OpenAIRE

    Daniel Friedman

    1998-01-01

    Evolutionary games have considerable unrealized potential for modeling substantive economic issues. They promise richer predictions than orthodox game models but often require more extensive specifications. This paper exposits the specification of evolutionary game models and classifies the possible asymptotic behavior for one and two dimensional models.

  12. ECONOMIC NATIONALISM’S VIABILITY UNDER GLOBALIZATION

    Directory of Open Access Journals (Sweden)

    Elena Mihaela ILIESCU

    2015-07-01

    Full Text Available The path undertaken by the world economy is irreversible - the world economic system is a system based on interdependencies, cooperation and multilateralism but economic openness is not full. Each country, in order to protect their national interest call, in different proportion, depending on the circumstances and of the economic-social and political interests, for different forms of the economic nationalism, forms that have adapted continuously to the demands required for integrating on the foreign markets. The recent global economic crisis intensified the rhetoric and the economic nationalism’s practices but it is not about rebirth, but of renewal, of remodeling the nationalist policies, globalization being a premise of the new economic nationalism. The scope of this paper is to emphasize using empirical data the fact that nationalism and globalization, from an economical point of view, are not antagonistic policies, they coexist and influence each other, both generating contradictory effects, in terms of provided opportunities and risks.

  13. Input-Output Economics : Theory and Applications - Featuring Asian Economies

    NARCIS (Netherlands)

    Ten Raa, T.

    2009-01-01

    Thijs ten Raa, author of the acclaimed text The Economics of Input–Output Analysis, now takes the reader to the forefront of the field. This volume collects and unifies his and his co-authors' research papers on national accounting, Input–Output coefficients, economic theory, dynamic models,

  14. Revisiting the relevance of economic theory to hotel revenue ...

    African Journals Online (AJOL)

    This paper explores the role of economics in hospitality education and industry practice, with a particular focus on revenue management, and puts forward an argument for a return to the inclusion of economic theory in UK hospitality education, not seen since the 1990s. Given the increasing amounts of pricing data available ...

  15. Practical Theory: Teaching Political and Economic Citizenship

    Science.gov (United States)

    Martin, J. Wesley

    2010-01-01

    How can philosophical instruction inform practical analysis and decision making among college students in a way that demonstrably benefits them as individual members of our polity and economy? I pose this question because each year, I introduce classic political theory to first- and second-year college students who simultaneously confront a fiscal…

  16. [Issue of population quality under economic reform].

    Science.gov (United States)

    Zhu, G

    1991-02-01

    Under the current economic reform program, various problems about the quality of the population have emerged; dropping out of school is one such problem. In recent years, dropping out of school, has become a prevalent phenomenon. It was estimated that between 1980 and 1987, 40 million primary and middle school students dropped out of school. Drop-outs occurred mostly in primary and middle schools and in rural areas. The reasons for dropping out can be summarized as follows: 1) families could not afford to pay for tuition, 2) students were not able to keep up with school work, and 3) families or students were influenced by other students who had dropped out. In weighing the cost and benefit of attending school, parents would decide whether or not and for how many years to send their children to school. The costs included both direct costs and opportunity costs. Children in urban areas have practically no opportunity costs, while those in rural areas do. Dropping out has been more prevalent among girls than boys. Since girls marry into other families, parents were less willing to invest in their education. On the other hand, the school curriculum gave more emphasis to preparing students for advanced studies than to relaying practical knowledge. Parents did not feel there was any advantage for their children to spend more time in school. Rural economic reform had strengthened the decision-making function of the family in the area of investment. It has also widened the gap between the rich and the poor. For less affluent families, it has become more and more difficult to bear the increasing cost of education. To deal with this problem, the author made several suggestions: 1) persuade parents to continue sending children to school 2) set regulations forbidding the employment of school age children 3) forbid schools to collect unauthorized feeds and establish scholarships to help economically disadvantaged students, 4) develop more vocational schools and change the

  17. View from Behavioral Economics Theory: Case of Latvian Rural Entrepreneurs

    Directory of Open Access Journals (Sweden)

    Igo Cals

    2013-11-01

    Full Text Available The theory of classical economics treats entrepreneurs as subjects who make rational economic decisions. Empirical surveys prove the fact that daily economic decisions made by a separate economic entity can be explained by concepts of behavioral economics rather than classical economics. The economic behavior of entrepreneurs happens to be based on bounded rationality instead of financial justification. The objective of an economic activity presented as economically efficient can turn out to be socially important to a specific entrepreneur and not to national economy as a whole. In the EU countries, agriculture is a subsidised industry of national economy. In this light, status consumption and purchase of positional goods should create a special interest among economists. The objective of this article is to present true reasons of economic decisions made by rural entrepreneurs and to analyse the value hierarchy of Latvian rural entrepreneurs through carrying out a field work and with the help of set of instruments developed by modern economics theory.

  18. Economics versus psychology.Risk, uncertainty and the expected utility theory

    OpenAIRE

    Schilirò, Daniele

    2017-01-01

    The present contribution examines the emergence of expected utility theory by John von Neumann and Oskar Morgenstern, the subjective the expected utility theory by Savage, and the problem of choice under risk and uncertainty, focusing in particular on the seminal work “The Utility Analysis of Choices involving Risk" (1948) by Milton Friedman and Leonard Savage to show how the evolution of the theory of choice has determined a separation of economics from psychology.

  19. Some Links Between Game Theory and Decision Theory in Economics

    OpenAIRE

    Dominika Crnjac; Goran Martinovic

    2009-01-01

    Certain optimal strategies based upon game theory are given in this paper. A decision-making function and a risk function are explained. Decision-making criteria are applied for determining best decision-making functions with respect to a specific criterion. Special attention is given to the minimax criterion.

  20. INTEGRATION OF ETHICAL DISCOURSE IN ECONOMIC THEORY

    OpenAIRE

    Iulia David Sobolevschi; Monica Aureliana Petcu

    2008-01-01

    Moral doctrines and ethical patterns have a strong historical character, the society taking upon itself certain behaviour values and criteria, depending on the stage of development, on its productive features. The business pattern anchored exclusively in the competition for productivity, profit and market went along with arguments having nothing in common with the principles of ethics, such as „there are no moral responsibilities in business”. The alteration of the economic paradigms through ...

  1. Economics of natural resources. [Post-Keynesian economic theory

    Energy Technology Data Exchange (ETDEWEB)

    Davidson, P.

    1979-03-01

    The current world energy crisis illustrates the importance of analyzing, as a post-Keynesian approch does, such factors as monopoly power and user costs in trying to understand the production flows and market prices of natural resources - when these flows and prices are changing rapidly and unexpectedly in the face of slowly expanding world output. Post-Keynesian analysts do not immediately see rising natural resource prices as evidence per se that the law of dimmishing returns is operating in perfectly competitive market - or, in other words, that we are running out of cheap energy and other raw materials. A post-Keynesian perspective would instead suggest that such price changes can best be understood (and an appropriate policy response formulated) by analyzing the behavior of entrepreneurial agents and resource property owners in terms of perceived market power and/or expectations about the future. In this connection, Keynes' concept of user cost is a critical one. Keynes recognized that the user cost concept applied not only to raw materials such as fossil fuels, but to all capital equipment, for in deciding his scale of production an entrepreneur has to exercise a choice between using up his equipment now and preserving it to be used later on. For those who adopt the post-Keynesian approach to economic analysis, the decision to utilize natural resouces is viewed as similar to that of disinvestment in capital equipment, while the search for new sources of natural resources is merely a form of capital investment.

  2. Bifurcation theory for hexagonal agglomeration in economic geography

    CERN Document Server

    Ikeda, Kiyohiro

    2014-01-01

    This book contributes to an understanding of how bifurcation theory adapts to the analysis of economic geography. It is easily accessible not only to mathematicians and economists, but also to upper-level undergraduate and graduate students who are interested in nonlinear mathematics. The self-organization of hexagonal agglomeration patterns of industrial regions was first predicted by the central place theory in economic geography based on investigations of southern Germany. The emergence of hexagonal agglomeration in economic geography models was envisaged by Krugman. In this book, after a brief introduction of central place theory and new economic geography, the missing link between them is discovered by elucidating the mechanism of the evolution of bifurcating hexagonal patterns. Pattern formation by such bifurcation is a well-studied topic in nonlinear mathematics, and group-theoretic bifurcation analysis is a well-developed theoretical tool. A finite hexagonal lattice is used to express uniformly distri...

  3. Entrepreneurship and the Economic Theory of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    Although they have developed very much in isolation from each other, we argue the theory ofentrepreneurship and the economic theory of the firm are closely related, and each has much tolearn from the other. In particular, the notion of entrepreneurship as judgment associated withFrank Knight...... and some Austrian school economists aligns naturally with the theory of the firm.In this perspective, the entrepreneur needs a firm, that is, a set of alienable assets he controls, tocarry out his function. We further show how this notion of judgment adds to the key themes inthe modern theory of the firm...

  4. Transportation strategy development under economic uncertainty.

    Science.gov (United States)

    2013-05-01

    The interests of the researchers here were to understand various modes for developing long term : that is strategic plans with particular concern for the economic uncertainties one invariably : faces in such a planning environment. Often resou...

  5. Introductory statistics for business and economics theory, exercises and solutions

    CERN Document Server

    Ubøe, Jan

    2017-01-01

    This textbook discusses central statistical concepts and their use in business and economics. To endure the hardship of abstract statistical thinking, business and economics students need to see interesting applications at an early stage. Accordingly, the book predominantly focuses on exercises, several of which draw on simple applications of non-linear theory. The main body presents central ideas in a simple, straightforward manner; the exposition is concise, without sacrificing rigor.  The book bridges the gap between theory and applications, with most exercises formulated in an economic context. Its simplicity of style makes the book suitable for students at any level, and every chapter starts out with simple problems. Several exercises, however, are more challenging, as they are devoted to the discussion of non-trivial economic problems where statistics plays a central part.

  6. International Summer School on Mathematical Systems Theory and Economics

    CERN Document Server

    Szegö, G

    1969-01-01

    The International Summer School on Mathematical Systems Theory and Economics was held at the Villa Monastero in Varenna, Italy, from June 1 through June 12, 1967. The objective of this Summer School was to review the state of the art and the prospects for the application of the mathematical theory of systems to the study and the solution of economic problems. Particular emphasis was given to the use of the mathematical theory of control for the solution of problems in economics. It was felt that the publication of a volume collecting most of the lectures given at the school would show the current status of the application of these methods. The papers are organized into four sections arranged into two volumes: basic theories and optimal control of economic systems which appear in the first volume, and special mathematical problems and special applications which are contained in the second volume. Within each section the papers follow in alphabetical order by author. The seven papers on basic theories are a rat...

  7. Theories of International Economic Development (Case Study: Economic Development in Kosovo

    Directory of Open Access Journals (Sweden)

    MSc. Bardhok Bashota

    2012-06-01

    Full Text Available Karl Popper rightly says that “real starting point for each research is set based on assumptions of reality, not only based on the real facts”. The text below was prepared In accordance with this logic, where the Theories of International Development are treated especially focusing on International Economic Development. Therefore, theoretical reflections present assumption side, and study of many empirically measured data will correspond with real facts, because with ought these facts assumption would be useless. Technically this writing consists of two parts: in the first part are elaborated all theoretical and practical characteristics of overall international development, while in a second part as a case study will be Economic Development i Kosovo. From methodological point of view this is a comparative study and based on statistical data, while problem treating approach is critical and explanatory. As it will be understood later, development theories have been decisively influenced by economic thinking, and the focus on this dimension responds best to the nature of the term development. On the other hand the fact of unfolding economical development will reflect interference and the nature of it’s inter politics. Today economic development becomes a worldwide goal, having a considerable place in most of the literature with economic content. Also, here are presented as well examples from different practices that reflect economic development in different periods and places. Here is presented international economic development starting with a brief description of a genealogy of this development and ways of economic development back that time. It is of a special importance elaboration through theoretical approach on the creation of capital and economic development, as  mercantilist theory, classic and neo classic theory, than capitalization and Socialism-Marxism. To better understand the nature of economic development, the focus falls on

  8. What every conservation biologist should know about economic theory.

    Science.gov (United States)

    Gowdy, John; Hall, Charles; Klitgaard, Kent; Krall, Lisi

    2010-12-01

    The last century has seen the ascendance of a core economic model, which we will refer to as Walrasian economics. This model is driven by the psychological assumptions that humans act only in a self-referential and narrowly rational way and that production can be described as a self-contained circular flow between firms and households. These assumptions have critical implications for the way economics is used to inform conservation biology. Yet the Walrasian model is inconsistent with a large body of empirical evidence about actual human behavior, and it violates a number of basic physical laws. Research in behavioral science and neuroscience shows that humans are uniquely social animals and not self-centered rational economic beings. Economic production is subject to physical laws including the laws of thermodynamics and mass balance. In addition, some contemporary economic theory, spurred by exciting new research in human behavior and a wealth of data about the negative global impact of the human economy on natural systems, is moving toward a world view that places consumption and production squarely in its behavioral and biophysical context. We argue that abandoning the straightjacket of the Walrasian core is essential to further progress in understanding the complex, coupled interactions between the human economy and the natural world. We call for a new framework for economic theory and policy that is consistent with observed human behavior, recognizes the complex and frequently irreversible interaction between human and natural systems, and directly confronts the cumulative negative effects of the human economy on the Earth's life support systems. Biophysical economics and ecological economics are two emerging economic frameworks in this movement. © 2010 Society for Conservation Biology.

  9. Theory and Application of an Economic Performance Measure of Risk

    NARCIS (Netherlands)

    C. Niu (Cuizhen); X. Guo (Xu); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung)

    2017-01-01

    textabstractHomm and Pigorsch (2012a) use the Aumann and Serrano index to develop a new economic performance measure (EPM), which is well known to have advantages over other measures. In this paper, we extend the theory by constructing a one-sample confidence interval of EPM, and construct

  10. The remarkable transformation of the UV curve in economic theory

    NARCIS (Netherlands)

    Rodenburg, P.

    2011-01-01

    The purpose of this paper is to provide an analysis of the impact the Unemployment-Vacancy (UV) curve (or Beveridge curve) had on economic theory and to provide an account of the subsequent radical changes in its place and role over the decades since its first appearance in 1958. The paper traces

  11. Technical conditions for sustainable growth in economic theory. An analysis

    International Nuclear Information System (INIS)

    Granda C, Catalina

    2008-01-01

    Economic theory and its models point out returns to scale, substitution among productive factors and technological progress as conditions for sustainable growth. This work aims at a critical appraisal of these conditions, particularly the ones related to substitution between natural resources and manmade capital and technical change, by recognizing the inevitable physical scarcity of resources concomitant to the human actions in a world governed by hemodynamic restrictions. To do so, the role that the mentioned conditions play in the theories of economic growth with resources is analyzed, and its limitations and objections from a biophysical perspective are indicated as well. Finally, a brief consideration as to how inappropriate the theoretical representations of economic activities are to take account of growth in spite of resource exhaustion or degradation is carried out

  12. Network theory and its applications in economic systems

    Science.gov (United States)

    Huang, Xuqing

    This dissertation covers the two major parts of my Ph.D. research: i) developing theoretical framework of complex networks; and ii) applying complex networks models to quantitatively analyze economics systems. In part I, we focus on developing theories of interdependent networks, which includes two chapters: 1) We develop a mathematical framework to study the percolation of interdependent networks under targeted-attack and find that when the highly connected nodes are protected and have lower probability to fail, in contrast to single scale-free (SF) networks where the percolation threshold pc = 0, coupled SF networks are significantly more vulnerable with pc significantly larger than zero. 2) We analytically demonstrates that clustering, which quantifies the propensity for two neighbors of the same vertex to also be neighbors of each other, significantly increases the vulnerability of the system. In part II, we apply the complex networks models to study economics systems, which also includes two chapters: 1) We study the US corporate governance network, in which nodes representing directors and links between two directors representing their service on common company boards, and propose a quantitative measure of information and influence transformation in the network. Thus we are able to identify the most influential directors in the network. 2) We propose a bipartite networks model to simulate the risk propagation process among commercial banks during financial crisis. With empirical bank's balance sheet data in 2007 as input to the model, we find that our model efficiently identifies a significant portion of the actual failed banks reported by Federal Deposit Insurance Corporation during the financial crisis between 2008 and 2011. The results suggest that complex networks model could be useful for systemic risk stress testing for financial systems. The model also identifies that commercial rather than residential real estate assets are major culprits for the

  13. Territory development as economic and geographical activity (theory, methodology, practice

    Directory of Open Access Journals (Sweden)

    Vitaliy Nikolaevich Lazhentsev

    2013-03-01

    Full Text Available Accents in a description of theory and methodology of territory development are displaced from distribution of the national benefits on formation of territorial natural and economic systems and organization of economical and geographical activity. The author reveals theconcept of «territory development» and reviews its placein thetheory and methodology of human geography and regionaleconomy. In the articletheindividual directions ofeconomic activity areconsidered. The author has made an attempt to definethesubject matter of five levels of «ideal» territorial and economic systems as a part of objects of the nature, societies, population settlement, production, infrastructure and management. The author’s position of interpretation of sequences of mechanisms of territory development working according to a Nested Doll principle (mechanism of economy, economic management mechanism, controlling mechanism of economy is presented. The author shows the indicators, which authentically define territory development

  14. Human Capital as a Challenge for Economics Theory

    Directory of Open Access Journals (Sweden)

    Barbara Wyrzykowska

    2014-12-01

    Full Text Available The issue of human capital is increasingly attracting the attention of both theorists and practitioners, because at present human resources play a decisive role in the creation of competitive economies and business entities. Human capital and knowledge are becoming key factors in the area of entity competitiveness. Consequently, human capital is currently being analysed in a multi-faceted way in the context of numerous economic theories. The aim of this study is to summarize, analyse, and synthesise the information published on the subject of the theory of human capital and to present new theories and scientific paradigms. The theories presented in this study show that employees constitute the basic capital of modern organizations. One of the contemporary paradigms of modern management is the concept of knowledge-based economy and the paradigm of information technology. This article is based on literature studies and theoretical reflections of the author.

  15. Understanding the Drivers of Economic Growth: Grounding Endogenous Economic Growth Models in Resource-Advantage Theory

    OpenAIRE

    Hunt, Shelby D.

    2012-01-01

    Foss (2012) provides an informed and informative comment on my article “Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation” (Hunt, 2012). In general, his comment is highly supportive of both the theory and the arguments developed in my article. He does, however, raise certain issues that need to be addressed. These issues relate to the concept of total factor productivity, the role of institutions in pro...

  16. Influences of Economic Theories on Accounting Theory: the case of the Objective Function of the Firm

    Directory of Open Access Journals (Sweden)

    Lineker Costa Passos

    2016-10-01

    Full Text Available This essay aims to establish the relationship between the theoretical precepts that guide the accounting disclosure procedures for its stakeholders, both internal and external, and the two main theoretical trends that address the firm’s objective function: the Shareholder theory and the Stakeholder theory. In the perspective of the Shareholder theory, the firm has to define a single objective, which is to maximize shareholder wealth. In the context of Stakeholders theory, the firm must establish a multiple objective, which is to meet the interests of all those involved with its activities. We discuss to what extent theories, standards and accounting practices emanate from the concepts of the two models, especially regarding the users’ demand for useful and relevant information. There is a predominance of Shareholder theory in influencing accounting principles that guide the disclosure of information, although different accounting reports are already discussed and presented, oriented to the Stakeholders of the firm, without establishing a set of concepts that explain and justify them within the scope of Accounting theory. Additionally, it is argued that, all things taken into consideration, both currents of the Economic theory point in the same direction: to seek the wellbeing of the firm’s stakeholders. The research contributes to the accounting literature, in the sense of clarifying the impacts arising from the two economic models that deal with the objective function of the firm in the evolution of Accounting theory, not yet captured directly in the discussion of the fundamentals of accounting theory.

  17. Organisational Pathologies Under Conditions of Economic Downswing

    Directory of Open Access Journals (Sweden)

    Pasieczny Jacek

    2017-06-01

    Full Text Available The topic of organisational pathology is surprisingly absent in literature on management, especially when bearing in mind the theoretical and practical import of such questions. The intention of the author is to fill in this gap, at least partially. The paper is based on an analysis of literature and an empirical research conducted by the author. The research applied partially structured interviews as its method. These interviews were conducted with entrepreneurs and managers of various levels. They made possible the drawing of conclusions relating to conditions behind the genesis and growth of selected organisational pathologies in a situation of economic downswing. The article briefly presents the concept and influence of pathology on the functioning of an organisation. The author concentrates on the causes of the phenomenon and presents them from various perspectives. It is during times of economic downswing that an increase in unethical behaviour, including corruption, mobbing as well as others, becomes particularly visible. Also noticeable is concentrating on limiting costs, which can sometimes reach pathological scale. This can lead to a permanent loss of pro-development potential by the organisation. Moreover, numerous pathological phenomena emerge at the tangent point of the organisation and its surroundings. The source of many undesirable phenomena in the organisation and in its relations with its surroundings is a fall in trust, which makes its appearance in crisis situations. More often than not, managers facing a situation in which they have no choice perpetuate organisational pathologies, whilst, at the same time, being aware of the lack of validity of their actions. However, a more frequent source of problems is the differences in perspective in perceiving organisational phenomena by various actors and stakeholders.

  18. Bank Portfolio Structure and Economic Absorption Theory of Economic Development: A Theoretical Proposition

    Directory of Open Access Journals (Sweden)

    Uduak B. UBOM

    2016-11-01

    Full Text Available The focus of this article was on theoretical proposition of Bank Portfolio Structure and Economic Absorption Theory of economic development. Specifically, the work sought to establish the basis of bank portfolio rigidity and to identify the causes of economic absorption problems and their implications on economic development. The theoretical and conceptual research designs were used. Existing literatures were reviewed using archival retrieval approach, library search and internet exploration. The information obtained was judgmentally, logically and qualitatively analyzed. It was discovered among others, that, bank portfolio rigidity stems from regulatory policy defects using inconsistent monetary policy tools such as high liquidity ratio and cash ratio, etc. and compelling the banks to adhere to the regulatory requirement, as well as lack of adequate and quality stock of infrastructure and technology as the basic causes of economic absorption problems. Above all, low level of economic absorption has been discovered to hinder effective contributions of banks to economic development. Following from above, it was therefore recommended that regulatory tools used by Central Banks should be aligned with the development needs of the economy and the direction of governments. The monetary policy tools such as liquidity and cash ratios should also be moderated and stabilized for stable bank portfolio performance as well as aggressive improvement in the stock and quality of infrastructure and technology within an economy. With the new theory, it is expected that policy formulations and adjustments concerning bank portfolio structure and management would be designed with adequate flexibility and focus on long term loans and investments coupled with improved stock and quality of infrastructure to enhance economic development. This theory therefore provides another frontier of research on bank portfolio structure and contributions to economic development.

  19. Institutional economic theory of assets privatization and nationalization: Basic imperatives

    Directory of Open Access Journals (Sweden)

    Sukharev Oleg S.

    2015-01-01

    Full Text Available Basic provisions, principles and criteria of institutional theory of privatization - nationalization and assets management in economy are introduced. Structural analysis of property, in the aspect of it s two basic elements, public and private property, is carried out and the model of interaction of public and private sectors is introduced. The main attention is focused on the efficiency estimation criteria of the functioning of property and to expediency substantiation of property privatization and nationalization. The optimum principle of property structure in economic system is suggested. peculiarities of privatization and nationalization in economic systems are analyzed proceeding from substantiation of theoretical criteria of privatization and nationalization in economy.

  20. Competition in electricity spot markets. Economic theory and international experience

    Energy Technology Data Exchange (ETDEWEB)

    Fehr, Nils-Henrik von der; Harbord, David

    1998-09-01

    This publication gives a survey of economic theory and international experience connected to electricity spot markets. The main purpose is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. The publication describes in simple terms the basic pool pricing mechanism, and experience with pools in a number of countries. It is worth emphasizing that it is not the purpose to treat in extensive detail the structure of electricity pools around the world. Key factors of the markets in England and Wales, Norway and Australia are described in order to allow for a comparison of design issues and evaluation of competitive performance. 80 refs., 14 figs., 15 tabs.

  1. The government procurement agreement: Implications of economic theory

    OpenAIRE

    Mattoo, Aaditya

    1996-01-01

    This paper analyzes the provisions of the new Agreement on Government Procurement (GPA), drawing insights from trade theory and recent developments in the economics of information and law. A central conclusion is that in a world where imperfectly informed procurers purchase from imperfectly competitive firms on behalf of imperfectly informed tax-payers, it is not easy to devise rules which would be optimal in all situations. Nevertheless, the non-discriminatory provisions of the GPA seem to a...

  2. The Crisis of Economic Theory in the Middle of the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Silvia MĂRGINEAN

    2011-05-01

    Full Text Available Keynesian economics has lost much of its effectiveness as a paradigm of world capitalism as a whole, or as a paradigm of individual developed capitalist economies. The decline of the United States as a hegemonic power capable of imposing its will over others has seen to the erosion of the relevance of the Keynesian doctrine on the global scale. The Philips curve and what Hicks calls the “social” pressure on wages have severely restricted the field of Keynesian policy at home – even through the ruling classes continue to use Keynesian theory as their paradigm. The most important lesson from Keynes work may be that the macroeconomist should start from the important problems of the day and should face the following questions: 1 How can we to understand what are is happening right now? 2 What can be done about it? What is the best policy to follow? 3 Do recent events force us to modify what is today widely accepted economic theory? If so, what is wrong and how might we go about arriving at a more satisfying theory? The most important economic problem of today is current financial crisis that started in the United States. What might we learn from Keynesian theory about it? The current situation is almost the opposite of the one that Keynes dealt with in the “General Theory”. Now day’s economics lacks an anchored understanding of the nature of the reality that economics is supposed to illuminate. Instability of leverage, connectivity, and potential instability of the price level have all been neglected in stable – with – fractions macro theory. Technical innovations will not bring real progress as long as “stability – with – fractions” remains the ruling paradigm. Meanwhile, governments are not prepared to face another crisis.

  3. Antieigenvalue analysis for continuum mechanics, economics, and number theory

    Directory of Open Access Journals (Sweden)

    Gustafson Karl

    2016-01-01

    Full Text Available My recent book Antieigenvalue Analysis, World-Scientific, 2012, presented the theory of antieigenvalues from its inception in 1966 up to 2010, and its applications within those forty-five years to Numerical Analysis, Wavelets, Statistics, Quantum Mechanics, Finance, and Optimization. Here I am able to offer three further areas of application: Continuum Mechanics, Economics, and Number Theory. In particular, the critical angle of repose in a continuum model of granular materials is shown to be exactly my matrix maximum turning angle of the stress tensor of the material. The important Sharpe ratio of the Capital Asset Pricing Model is now seen in terms of my antieigenvalue theory. Euclid’s Formula for Pythagorean triples becomes a special case of my operator trigonometry.

  4. Trade policy under imperfect competition: The economics of Russian roulette

    NARCIS (Netherlands)

    S. Brakman (Steven); J.G.M. van Marrewijk (Charles)

    1996-01-01

    textabstractNeo-classical economic theory shows that managed trade or protectionism is (almost) always welfare decreasing. However, measurements of the welfare costs of protectionism based on neo-classical models seem to suggest that these costs are quite small. We discuss general new insights and

  5. Trade policy under imperfect competition : The economics of Russian roulette

    NARCIS (Netherlands)

    Brakman, S; vanMarrewijk, C

    Neo-classical economic theory shows that managed trade or protectionism is (almost) always welfare decreasing. However, measurements of the welfare costs of protectionism based on neo-classical models seem to suggest that these costs are quite small. We discuss general new insights and developments

  6. Economic Valuation of European Commercial Fisheries under Good Environmental Status

    DEFF Research Database (Denmark)

    Goulding, Ian; Hutniczak, Barbara; Münch, Angela

    2012-01-01

    This paper focuses on assessing the economic impact of achieving Good Environmental Status in the EU’s commercial capture fisheries, being one of the descriptors listed under the MSFD in terms of landed value using 2010 prices. The approach adopted is to assess the values of landings under...... different environmental scenarios, and use the differences between them to highlight the economic impacts of each....

  7. Which theories can explain the emerging economic problems? Theories of the firm in the new institutional economics

    Directory of Open Access Journals (Sweden)

    Marek Matuszak

    2010-12-01

    Full Text Available The article presents basic assumptions and new theories of the firm connected with New Institutional Economics (NIE. NIE is regarded as a stream of research which enlarges and enriches the neoclassical economics. NIE focuses on the phenomena ignored by the traditional economics. The research field of NIE is very diversified but the adhesive which integrates all its streams is the idea that the main determinants of the development are institutions. The following part of the article contains a brief presentation of the notion, the significance and the types of institutions. It is stated that the market and its mechanisms depend on the characteristics of institutions which define its nature. Next the article presents briefly new theories of the firm related to NIE – the moral hazard or agency- theoretic approach, transaction cost economics approach and „capabilities” approach. The last part of the article examines the importance of institutions for creating the competitive advantage of a firm and of economies.

  8. The economic consequences of homo economicus: neoclassical economic theory and the fallacy of market optimality

    Directory of Open Access Journals (Sweden)

    David Calnitsky

    2013-05-01

    Full Text Available This essay presents a critique of the standard ascension from the rational agent to the optimal market in economic theory. Critiques of homo economicus are found unsatisfactory on grounds that its employment allows for the prediction of essential features of actual markets. using this same criterion we introduce Gary Becker’s essay, ‘irrational Behavior and economic Theory,’which demonstrated that the same features of markets could be derived from non-rational behaviour. Thus, non-rationality is equally predictive but is less restrictive than rationality. Once the assumption of rationality is relaxed, the concept of market optimality (though not market order must also be sacrificed.

  9. The economics of climate change and the theory of discounting

    International Nuclear Information System (INIS)

    Philibert, C.

    1999-01-01

    This paper confronts the theory of discounting with climate change economics. Standard discounting would give long-term damages a very low present value. On the other hand, low discount rates would imply more sacrifices for present generations, although future generations may be richer. And using multiple rates would lead to economic inefficiencies. The paper first shows that arguments favouring a low or zero discount rate in general are weak, even from an ethical point of view. It goes on by considering different arguments in favour of discount rates decreasing over time, and by recalling the argument that non-reproducible environmental assets should be given a value growing over time. Through the example of climate change, it finally shows that the latter argument not only implies that the costs of damages associated to climate change should not be underestimated, but also reinforce the legitimacy of using decreasing discount rates. (author)

  10. Optimal control theory applications to management science and economics

    CERN Document Server

    Sethi, Suresh P

    2006-01-01

    Optimal control methods are used to determine the best ways to control a dynamic system. This book applies theoretical work to business management problems developed from the authors' research and classroom instruction. The thoroughly revised new edition has been refined with careful attention to the text and graphic material presentation. Chapters cover a range of topics including finance, production and inventory problems, marketing problems, machine maintenance and replacement, problems of optimal consumption of natural resources, and applications of control theory to economics. The book in

  11. Action-Based Jurisprudence: Praxeological Legal Theory in Relation to Economic Theory, Ethics, and Legal Practice

    Directory of Open Access Journals (Sweden)

    Konrad Graf

    2011-08-01

    Full Text Available Action-based legal theory is a discrete branch of praxeology and the basis of an emerging school of jurisprudence related to, but distinct from, natural law. Legal theory and economic theory share content that is part of praxeology itself: the action axiom, the a priori of argumentation, universalizable property theory, and counterfactual-deductive methodology. Praxeological property-norm justification is separate from the strictly ethical “ought” question of selecting ends in an action context. Examples of action-based jurisprudence are found in existing “Austro-libertarian” literature. Legal theory and legal practice must remain distinct and work closely together if justice is to be found in real cases. Legal theorizing was shaped in religious ethical contexts, which contributed to confused field boundaries between law and ethics. The carrot and stick influence of rulers on theorists has distorted conventional economics and jurisprudence in particular directions over the course of centuries. An action-based approach is relatively immune to such sources of distortion in its methods and conclusions, but has tended historically to be marginalized from conventional institutions for this same reason.

  12. Evolutionary quantum game theory in the context of socio-economic systems

    International Nuclear Information System (INIS)

    Hanauske, Matthias

    2011-01-01

    The evolution of socio-economic systems depend on the interdependent decision processes of its underlying system components. The mathematical model to describe the strategic decision of players within a socio-economic game is ''game theory''. ''Quantum game theory'' is a mathematical and conceptual amplification of classical game theory. The space of all conceivable decision paths is extended from the purely rational, measurable space in the Hilbert-space of complex numbers - which is the mathematical space where quantum theory is formulated. By the concept of a potential entanglement of the imaginary quantum strategy parts, it is possible to include cooperate decision path, caused by cultural or moral standards. If this strategy entanglement is large enough, then additional Nash equilibria can occur, previously present dominant strategies could become nonexistent and new evolutionary stable strategies do appear for some game classes. Within this PhD thesis the main results of classical and quantum games are summarized and all of the possible game classes of evolutionary (2 player)-(2 strategy) games are extended to quantum games. It is shown that the quantum extension of classical games with an underlying dilemma-like structure give different results, if the strength of strategic entanglement is above a certain barrier. After the German summary and the introduction paper, five different applications of the theory are discussed within the thesis. (orig.)

  13. Economic theory and nursing administration research--is this a good combination?

    Science.gov (United States)

    Jones, Terry L; Yoder, Linda

    2010-01-01

    Economic theory is used to describe and explain decision making in the context of scarce resources. This paper presents two applications of economic theory to the delivery of nursing services in acute care hospitals and evaluates its usefulness in guiding nursing administration research. The description of economic theory and the proposed applications for nursing are based on current nursing, healthcare, and economic literature. Evaluation of the potential usefulness of economic theory in guiding nursing administration research is based on the criteria of significance and testability as described by Fawcett and Downs. While economic theory can be very useful in explaining how decisions about nursing time allocation and nursing care production are made, it will not address the issue of how they should be made. Normative theories and ethical frameworks also must be incorporated in the decision-making process around these issues. Economic theory and nursing administration are a good fit when balanced with the values and goals of nursing.

  14. New approaches to business cycle theory in current economic science

    Directory of Open Access Journals (Sweden)

    Monica DOBRESCU

    2012-07-01

    Full Text Available In modern economies, current research generally acknowledges that the central issues in macroeconomics are essentially the same as those identified by Keynes in the General Theory of Employment, Interest and Money. One way or the other, economists are trying to address the same macroeconomic issues that they did seven decades ago: How can we account for the different growth rates and various fluctuations observed in national economies? Which are the economic policies most suitable to solve the issues of growth and cyclic behavior? Both the new classicals and the new Keynesians have made considerable progress within their research paradigms: to explain economic fluctuations, the new classicals focus on technological perturbations, the intertemporal substitution of leisure and real business cycles; on the other hand, the new Keynesians speak in terms of monopolistic competition, menu costs or efficiency wages. On the whole, the new classicals believe that the business cycle can best be understood within the market-clearing model, whereas the new keynesians believe that business fluctuations are due to certain market failures of various sorts.The present paper focuses on the main directions of research of the new classical school on the business cycle, given that the theoretical progress in this field has been significant and relevant for economic policy during the past four decades.

  15. Building Better Ecological Machines: Complexity Theory and Alternative Economic Models

    Directory of Open Access Journals (Sweden)

    Jess Bier

    2016-12-01

    Full Text Available Computer models of the economy are regularly used to predict economic phenomena and set financial policy. However, the conventional macroeconomic models are currently being reimagined after they failed to foresee the current economic crisis, the outlines of which began to be understood only in 2007-2008. In this article we analyze the most prominent of this reimagining: Agent-Based models (ABMs. ABMs are an influential alternative to standard economic models, and they are one focus of complexity theory, a discipline that is a more open successor to the conventional chaos and fractal modeling of the 1990s. The modelers who create ABMs claim that their models depict markets as ecologies, and that they are more responsive than conventional models that depict markets as machines. We challenge this presentation, arguing instead that recent modeling efforts amount to the creation of models as ecological machines. Our paper aims to contribute to an understanding of the organizing metaphors of macroeconomic models, which we argue is relevant conceptually and politically, e.g., when models are used for regulatory purposes.

  16. Decision-Making Under Risk: Integrating Perspectives From Biology, Economics, and Psychology.

    Science.gov (United States)

    Mishra, Sandeep

    2014-08-01

    Decision-making under risk has been variably characterized and examined in many different disciplines. However, interdisciplinary integration has not been forthcoming. Classic theories of decision-making have not been amply revised in light of greater empirical data on actual patterns of decision-making behavior. Furthermore, the meta-theoretical framework of evolution by natural selection has been largely ignored in theories of decision-making under risk in the human behavioral sciences. In this review, I critically examine four of the most influential theories of decision-making from economics, psychology, and biology: expected utility theory, prospect theory, risk-sensitivity theory, and heuristic approaches. I focus especially on risk-sensitivity theory, which offers a framework for understanding decision-making under risk that explicitly involves evolutionary considerations. I also review robust empirical evidence for individual differences and environmental/situational factors that predict actual risky decision-making that any general theory must account for. Finally, I offer steps toward integrating various theoretical perspectives and empirical findings on risky decision-making. © 2014 by the Society for Personality and Social Psychology, Inc.

  17. REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH

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    Spiridon Pralea

    2012-12-01

    Full Text Available This paper shows that the dynamization of the traditional theory of international trade through the study of growth effects on the foreign trade in the framework of neoclassical analysis, alongsidethe approach with the Keynesian toolkit of the role of foreign trade as a factor of growth, have constituted the main aspects of the new theory of trade and economic growth. The “new theory” basically represents a set of theories and models of the type “growth-led export” or “export-led growth”, which explain the complex role of foreign trade in the dynamic of development, the new segments of international trade, and also provides base for trade strategies for development. Their typology includes: “import-substitutionstrategy”, “export-promotion strategy”, and more recently “outward oriented strategy”. In the context of regionalization and globalization of competition the author believes most appropriate the states’ option for a “outward - oriented competitive development strategy”.

  18. Attribution Theory and Judgment under Uncertainty

    Science.gov (United States)

    1975-06-13

    that every- cuy learning experiences are typically not structured to develop cognitive control. Much of the problem appears to be related to...people do and should explain past events may be found in the ruminations of historians over the state and nature of their craft (e.g.. Beard, 1935...8217 P- N- Psychology of Reasoning: Structure and Content . London: Bacsford, 19727 gcruccure - Attribution Theory 51 Wyer, R. S. CoRnitive

  19. Yam Storability and Economic Benefits of Storage Under the Modern ...

    African Journals Online (AJOL)

    This paper examines yam storability and the economic benefits of storage under the modern (underground) and the traditional (yam barn) storage technologies in Southeastern Nigeria. Data were collected mainly from 55 respondents who were interviewed, as well as from measurement of storage parameters on yam ...

  20. Economic Decision Making: Application of the Theory of Complex Systems

    Science.gov (United States)

    Kitt, Robert

    In this chapter the complex systems are discussed in the context of economic and business policy and decision making. It will be showed and motivated that social systems are typically chaotic, non-linear and/or non-equilibrium and therefore complex systems. It is discussed that the rapid change in global consumer behaviour is underway, that further increases the complexity in business and management. For policy making under complexity, following principles are offered: openness and international competition, tolerance and variety of ideas, self-reliability and low dependence on external help. The chapter contains four applications that build on the theoretical motivation of complexity in social systems. The first application demonstrates that small economies have good prospects to gain from the global processes underway, if they can demonstrate production flexibility, reliable business ethics and good risk management. The second application elaborates on and discusses the opportunities and challenges in decision making under complexity from macro and micro economic perspective. In this environment, the challenges for corporate management are being also permanently changed: the balance between short term noise and long term chaos whose attractor includes customers, shareholders and employees must be found. The emergence of chaos in economic relationships is demonstrated by a simple system of differential equations that relate the stakeholders described above. The chapter concludes with two financial applications: about debt and risk management. The non-equilibrium economic establishment leads to additional problems by using excessive borrowing; unexpected downturns in economy can more easily kill companies. Finally, the demand for quantitative improvements in risk management is postulated. Development of the financial markets has triggered non-linearity to spike in prices of various production articles such as agricultural and other commodities that has added market

  1. Neoclassical and Institutional Economics as Foundations for Human Resource Development Theory

    Science.gov (United States)

    Wang, Greg G.; Holton, Elwood F., III

    2005-01-01

    In an effort to more comprehensively understand economics as a foundation of human resource development (HRD), this article reviews economic theories and models pertinent to HRD research and theory building. By examining neoclassical and neoinstitutional schools of contemporary economics, especially the screening model and the internal labor…

  2. An Assessment of Economic Stability under the New European Economic Governance

    Directory of Open Access Journals (Sweden)

    Gheorghe HURDUZEU

    2015-06-01

    Full Text Available The economic crisis, followed by the sovereign debt crisis, resulted in high unemployment, unsustainable public finances and deepening disparities between Euro Area member states, and underlined the necessity of strengthening economic coordination. In order to lessen the effects of the crises, to prevent further deepening of the economic context and the appearance of new similar situations, the European framework was improved by the provisions of the new economic governance. The aim of this paper is to assess the effects regarding macroeconomic stability within Euro Area member states, achieved under the new economic governance framework. In this respect, the first part of the paper consists in an overview of the provisions imposed through the European Semester, the reformed Stability and Growth Pact and the other elements of the new European governance. In order to assess the achievement of economic stability we analyzed data for Southern Euro Area member states, during 2009-2013, as this group of countries registered most issues during 2013. We took into consideration five important indicators, essential in any economy that form the macroeconomic stability pentagon: economic growth rate, unemployment rate, inflation rate, budgetary balance and current account balance. By comparing the area obtained through the macroeconomic stability pentagon, we conclude on meeting one of the main objectives of the new European governance: economic stability.

  3. Local economic development in theories of regional economies and rural studies

    Directory of Open Access Journals (Sweden)

    Kačar Bahrija

    2016-01-01

    Full Text Available In this paper is a detailed analysis of the basics in the theory of economic development during the period from mid last century until today. It states the most significant theories, points out their ranges, offers a critical review regarding their treatment of development, especially regional, rural and local one. It observes those theories according to different classifications existing in scientific literature, primarily the ascend theory, stagnation theory, balanced economic growth theory; then, short-term and long-term development and growth theories; traditional and endogenous theories; economic growth stages theory emphasized after the WWII; structural changes theory; dependency theory, neo-classic counter-revolution theory and endogenous theory as a new growth theory. The analysis becomes wider with a study on development in regional economy theories and rural studies and it systematizes the classification of those theories according to regional economy academics. Distancing ourselves from any particular division as the most suitable and acceptable one, the theories are treated separately and in an historic context, in order to encircle the time framework which from modern theories, dealing with local level development difficulties, resulted. It asserts The Community-led Rural Development Theory, often referred to as the Community Development Theory, or marked as Bottom-up Partnership Approach. The analysis of development theories asserts that mixed exogenous - endogenous approach to development links the rural/local development to the globalization process mostly due to fast technology changes of the IT and communication sectors.

  4. Economic evaluation of private power production under uncertainties

    Energy Technology Data Exchange (ETDEWEB)

    Weiguo Xing; Wu, F.F. [University of Hong Kong (China). Centre for Electrical Energy Systems

    2003-02-01

    Private power production is becoming an increasingly important source of electricity generation. In developing countries, build-operate-transfer (BOT) arrangement has emerged as a dominant form of private investment. Pricing private power production at its avoided cost is the breakeven point for the utility in economic evaluation, and uncertainties must be taken into account. In this paper, an approach of calculating the breakeven cost to the utility of a BOT power plant whose contract lasts for 10-25 years is proposed. The proposed approach requires the computation of production costs from long-term generation expansion planning (GEP) under future uncertainties. To facilitate the inclusion of constraints introduced by BOT plants in GEP and uncertainties, a genetic algorithm method is utilized in GEP. The breakeven cost is a useful measure in the economic evaluation of BOT power plants. An example is presented to illustrate the economic evaluation of BOT plants using the concept of breakeven cost.(author)

  5. Optimal Portfolio Strategy under Rolling Economic Maximum Drawdown Constraints

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    Xiaojian Yu

    2014-01-01

    Full Text Available This paper deals with the problem of optimal portfolio strategy under the constraints of rolling economic maximum drawdown. A more practical strategy is developed by using rolling Sharpe ratio in computing the allocation proportion in contrast to existing models. Besides, another novel strategy named “REDP strategy” is further proposed, which replaces the rolling economic drawdown of the portfolio with the rolling economic drawdown of the risky asset. The simulation tests prove that REDP strategy can ensure the portfolio to satisfy the drawdown constraint and outperforms other strategies significantly. An empirical comparison research on the performances of different strategies is carried out by using the 23-year monthly data of SPTR, DJUBS, and 3-month T-bill. The investment cases of single risky asset and two risky assets are both studied in this paper. Empirical results indicate that the REDP strategy successfully controls the maximum drawdown within the given limit and performs best in both return and risk.

  6. Economics of Higher Education under Occupation: The Case of Palestine

    Directory of Open Access Journals (Sweden)

    Sam Abd Al-Qadir Alfoqahaa

    2015-10-01

    Full Text Available Through some extremely difficult experiences, education in general and Higher Education in particular has remained a constant focus of resources in Palestine.  Due to the ongoing occupation of Palestine, Palestinian universities could not expect to contribute significantly to economic development in the same way as other institutions around the world. However, the establishment and development of universities in Palestine meant that Palestine was investing in Palestinians, and, for reasons discussed in this paper, the development represented a clear breakthrough to be celebrated throughout Palestinian society. Most of the previous studies on the Economics of Higher Education (HE have not explicitly dealt with the Economics of Higher Education under occupation, especially in Palestine, neglecting much of the broader context and strategic impact of Palestinian Higher Education. This research investigates in depth Palestinian HE socio-economic outcomes for Palestinians, bringing to the light the meaning of HE under occupation that goes beyond mere economic impact to include its impact on Palestinians' human capital, dignity, and national identity reflecting the unique case of Palestine. This research reveals that from very early on it was clear that Palestinian Higher Education could not give the economy a boost, but that universities did give people a pride in Palestine, which, given the conditions of a brutal military occupation that increasingly separated one Palestinian from the next, amounted to quite a significant achievement. It demonstrated the central role Palestinian HE plays in the life of Palestinians as it is goes beyond means of economic growth to means of survival, building human capital, and maintaining people's dignity and national identity.

  7. Coevolution of economic behaviour and instituions: towards a theory of institutional change.

    NARCIS (Netherlands)

    van den Bergh, J.C.J.M.; Stagl, S.

    2003-01-01

    Traditionally, economics has regarded institutions, notably norms and regulations, as fixed or exogenous. Surprisingly few insights on institutional evolution from natural and social sciences have made their way into economics. This article gives an overview of evolutionary theories of institutions

  8. Coevolution of economic behaviour and institutions: towards a theory of institutional change

    NARCIS (Netherlands)

    van den Bergh, J.C.J.M.

    2003-01-01

    Traditionally, economics has regarded institutions, notably norms and regulations, as fixed or exogenous. Surprisingly few insights on institutional evolution from natural and social sciences have made their way into economics. This article gives an overview of evolutionary theories of institutions

  9. Does the Financial Crisis Affect How Economic Theory Should Be Taught?

    Science.gov (United States)

    Kafka, Alexander C., Comp.

    2008-01-01

    Professors of economics, business, and related fields were asked to answer the following question: Does the financial crisis affect how economic theory should be thought? This article presents some excerpts from their answers.

  10. THE THEORY OF IMPREVISION IN THE CONTEXT OF THE ECONOMIC CRISIS AND THE NEW ROMANIAN CIVIL CODE (NCC

    Directory of Open Access Journals (Sweden)

    Bazil Oglindă

    2012-11-01

    Full Text Available This paper addresses one of the most pressing issues of private law, namely, the theory of unpredictability. The theory of imprevision is a question of law under the effects of the current economic crisis has resulted in contract law. Also, updating legal issues raised by the theory of unpredictability occurs in the context of regulation for the first time at its principle in art. 1271 NCC. This paper deals with the concept, scope, conditions applying theory in the context of imprevision in terms of law doctrine and the relevant case law. It also presents elements of comparative law.

  11. Managing Bad Loans of Domestic Banks under Modern Economic Conditions

    OpenAIRE

    Bolhar Tetyana M.

    2014-01-01

    The article considers main methods of management of bad bank loans under modern economic conditions, conducts analysis of internal and external banking methods used by Ukrainian banks, and specifies and identifies their advantages and shortcomings. In the result of the study the article analyses in detail the use of the methods of rehabilitation and liquidation of bad loans. It considers organisation of internal and external banking methods of liquidation of bad loans, considers mechanism of ...

  12. New Challenges of Contingency Theory in Management Accounting System, in Terms of Global Economic Crisis

    OpenAIRE

    Ene Dumitru

    2010-01-01

    This paper aims to answer the question: 1. The contingency theory can be a source of improvement in management accounting research ,in terms of global economic crisis?’’ 2. Can be Contingency factors a bridge between organizational theories and management accounting? Research purpose: -The contingency theory can be a source of improvement in management accounting research, in terms of global economic crises; -Contingency factors can be a bridge between organizational theories and management a...

  13. Essays in behavioral economics : Applied game theory and experiments

    NARCIS (Netherlands)

    Mermer, A.G.

    2014-01-01

    Behavioral Economics aims at understanding the decision of economic agents who are not necessarily monetary utility maximizers and accounts for the fact that agents may have other concerns next to economic gain. This thesis contributes to the literature by studying the behavior of economic agents

  14. ECONOMIC NATURE AND THE ROLE OF NATURAL RESOURCES PAYMENTS UNDER SUSTAINABLE ECONOMIC DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    A. Zalievska-Shyshak

    2014-12-01

    Full Text Available The nature and value of natural resources payments under sustainable economic development are revealed. Mechanisms of using of natural resources potential of Ukraine are examined. Payments for use of natural resources is one of the most important components of an economic mechanism of nature management are established. Features of current legislation as to the setting fees for nature management are studied and the necessity of creating an effective institutional support in controlling of tax authorities for the collection of payments for natural resources and their evaluation is proved.

  15. Metabolic state alters economic decision making under risk in humans.

    Directory of Open Access Journals (Sweden)

    Mkael Symmonds

    2010-06-01

    Full Text Available Animals' attitudes to risk are profoundly influenced by metabolic state (hunger and baseline energy stores. Specifically, animals often express a preference for risky (more variable food sources when below a metabolic reference point (hungry, and safe (less variable food sources when sated. Circulating hormones report the status of energy reserves and acute nutrient intake to widespread targets in the central nervous system that regulate feeding behaviour, including brain regions strongly implicated in risk and reward based decision-making in humans. Despite this, physiological influences per se have not been considered previously to influence economic decisions in humans. We hypothesised that baseline metabolic reserves and alterations in metabolic state would systematically modulate decision-making and financial risk-taking in humans.We used a controlled feeding manipulation and assayed decision-making preferences across different metabolic states following a meal. To elicit risk-preference, we presented a sequence of 200 paired lotteries, subjects' task being to select their preferred option from each pair. We also measured prandial suppression of circulating acyl-ghrelin (a centrally-acting orexigenic hormone signalling acute nutrient intake, and circulating leptin levels (providing an assay of energy reserves. We show both immediate and delayed effects on risky decision-making following a meal, and that these changes correlate with an individual's baseline leptin and changes in acyl-ghrelin levels respectively.We show that human risk preferences are exquisitely sensitive to current metabolic state, in a direction consistent with ecological models of feeding behaviour but not predicted by normative economic theory. These substantive effects of state changes on economic decisions perhaps reflect shared evolutionarily conserved neurobiological mechanisms. We suggest that this sensitivity in human risk-preference to current metabolic state has

  16. Competition to commit crime: An economic experiment on illegal logging using behavioral game theory

    OpenAIRE

    Tananya Songchoo; Komsan Suriya

    2012-01-01

    This study constructs an economic experiment using behavioral game theory to figure out policies that discourage illegal logging in Thailand. A player is assigned to be either a police or an outlaw in the game. The game randomly matches two players in different roles. The lawbreaker can offer a bribe to police under uncertainties whether the police may refuse it or reject the offer because of too small amount of the bribe. Even when bribery is accepted, it is still uncertain for an lawbreaker...

  17. Economics of Distance and Online Learning Theory, Practice and Research

    Directory of Open Access Journals (Sweden)

    reviewed by TOJDE

    2009-10-01

    Full Text Available Economics of Distance and Online LearningTheory, Practice and ResearchBy William Bramble & Santosh PandaPrice: $125.00ISBN: 978-0-415-96388-6, Binding: Hardback, Publishedby: Routledge, New York, Publication Date: March 2008, Pages: 312TOJDEABOUT THE BOOKThis book provides a comprehensive overview of theorganizational models of distance and online learning froman international perspective and from the point of view ofeconomic planning, costing and management decisionmaking.The book points to directions for the further research anddevelopment in this area, and will promote furtherunderstanding and critical reflection on the part ofadministrators, practitioners and researchers of distanceeducation.The experiences and perspectives in distance education inthe US are balanced with those in other areas of the world.Table of ContentsPrefaceSECTION ONE: INTRODUCTIONChapter 1: Organizational and Cost Structures for Distanceand Online Learning, William J. Bramble and Santosh PandaSECTION TWO: PLANNING AND MANAGEMENTChapter 2: Changing Distance Education andChanging Organizational Issues, D. Randy Garrison and Heather KanukaChapter 3: Online Learning and the University, Chris Curran217Chapter 4: Virtual Schooling and Basic Education, Thomas ClarkChapter 5: Historical Perspectives on Distance Education in the United States, Paul J.Edelson and Von PittmanSECTION THREE: FUNDINGChapter 6: Funding of Distance and Online Learning in the United States, Mark J. Smithand William J. BrambleChapter 7: Funding Distance Education: A Regional Perspective, Santosh Panda andAshok GabaSECTION FOUR: COST STRUCTURES AND MODELSChapter 8: Costs and Quality of Online Learning, Alistair InglisChapter 9: Costing Virtual University Education, Insung JungChapter 10: Cost-Benefit of Student Retention Policies and Practices, Ormond SimpsonSECTION FIVE: DISTANCE TRAININGChapter 11: Cost Benefit of Online Learning, Zane Berge and Charlotte DonaldsonChapter 12: Transforming Workplace

  18. Complexity theory and financial regulation: economic policy needs interdisciplinary network analysis and behavioral modeling

    NARCIS (Netherlands)

    Battiston, S.; Farmer, J.D.; Flache, A.; Garlaschelli, D.; Haldane, A.G.; Heesterbeek, H.; Hommes, C.; Jaeger, C.; May, R.; Scheffer, M.

    2016-01-01

    Traditional economic theory could not explain, much less predict, the near collapse of the financial system and its long-lasting effects on the global economy. Since the 2008 crisis, there has been increasing interest in using ideas from complexity theory to make sense of economic and financial

  19. Evolutionary Systems Theory, Universities, and Endogenous Regional Economic Development

    Science.gov (United States)

    Bowen, William M.

    2007-01-01

    Universities today are increasingly being viewed in terms of serving the purpose of economic development. This paper postulates that their chief purpose is to advance knowledge and that in doing so they effectuate regional economic growth and development through processes specified in the endogenous economic growth model. To achieve this purpose…

  20. A possible realization of Einstein's causal theory underlying quantum mechanics

    International Nuclear Information System (INIS)

    Yussouff, M.

    1979-06-01

    It is shown that a new microscopic mechanics formulated earlier can be looked upon as a possible causal theory underlying quantum mechanics, which removes Einstein's famous objections against quantum theory. This approach is free from objections raised against Bohm's hidden variable theory and leads to a clear physical picture in terms of familiar concepts, if self interactions are held responsible for deviations from classical behaviour. The new level of physics unfolded by this approach may reveal novel frontiers in high-energy physics. (author)

  1. Managing Entrepreneurial Risks under Conditions of Instability of Economic Environment

    Directory of Open Access Journals (Sweden)

    Miroshnichenko Yurii V.

    2013-12-01

    Full Text Available The article analyses the state of an organisation under modern conditions of establishment of new competitive relations between subjects of economic activity and transition to the model of market economy, justifies urgency of studies devoted to methods of entrepreneurial risk management. The article analyses factors that influence the risk level and offers own definition of this category. The article sets the task of improvement of the systemised classification of entrepreneurial risk management methods. In the result of the conducted analysis, the authors offered an improved systemised classification of risk management methods and justifies efficiency of its use.

  2. Decision Making under Ecological Regime Shift: An Experimental Economic Approach

    OpenAIRE

    Kawata, Yukichika

    2011-01-01

    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...

  3. Growth-based Theories for Declining Regions? A Note on Conceptualisations of Demographic Change for Regional Economic Development

    Directory of Open Access Journals (Sweden)

    Anke Matuschewski

    2016-01-01

    Full Text Available This article aims to critically assess the economic growth paradigm, which typically underlies most approaches to regional policymaking for demographic change. While population losses, ageing and outmigration – i.e. phenomena that are addressed as demographic change – have become a matter of urgency for many European regions, most regional economic development theories remain silent about the population decline affecting the economic growth and development prospects of regions. Consequently, regional policies usually rely on the concept of economic growth, yet neglect the complexity and importance of demographic change and how it relates to the economic sphere. Due to this lack in nuance, we argue that regional policymaking fails to design adequate policy support for regions facing persistent demographic change and economic stagnation or decline as a result. Based on these observations, the paper examines a selection of regional economic development theories in search for alternative concepts of growth and development in the context of demographic change. To this aim, globalisation peripheries are introduced as a fruitful conceptual point of reference and, in combination with endogenous regional development theories, discussed as an alternative approach for regional policymaking.

  4. Principles of Economic Union. An Extension of John Rawls's Theory of Justice

    NARCIS (Netherlands)

    Wolthuis, A.J.

    2017-01-01

    In this article I uncover the principles of justice by which an economic union is to be constituted. For this purpose I extend John Rawls’s constructivist theory of justice to economically integrated societies. With regard to the principles I defend a twofold claim. First, the principles of economic

  5. Activity Analysis: Bridging the Gap between Production Economics Theory and Practical Farm Management Procedures

    OpenAIRE

    Longworth, John W.; Menz, Kenneth M.

    1980-01-01

    This paper is addressed to the traditional problem of demonstrating the relevance of production theory to management-oriented people. Activity analysis, it is argued, is the most appropriate pedagogic framework within which to commence either a production economics or a farm management course. Production economics theory has not been widely accepted as a useful method for the analysis of practical management problems. The theory has been traditionally presented in terms of continuous function...

  6. Expansionary economic effects of energy conversion under stagnation

    International Nuclear Information System (INIS)

    Ono, Yoshiyasu

    2013-01-01

    After the Fukushima disaster, energy conversion such as nuclear power phaseout and deployment of renewable energy or survival of nuclear power had been actively argued pro and con. Both sides admitted extra costs were needed but their economic effects would be contrary dependent on business state. Under better economy, extra costs would be actual burden of total economy. Under stagnation as was long in Japan at present, extra costs brought about expansion of employment and economy with simulated consumption increase. Industry conversion would occur such industry intensively using power would depreciate and energy conserved industry would grow. Difference of power use intensity between industries made difficult in energy conversion because present Japanese industry constitution was mostly formed based on cheap power cost for industry use. Even taking account of international competition, the same would be true by adjusting finance balance sheet and currency exchange rate. (T. Tanaka)

  7. APPLYING THE THEORY OF CONSTRAINTS TO INCREASE ECONOMIC VALUE ADDED: PART 1—THEORY

    Directory of Open Access Journals (Sweden)

    Malan Smith

    2012-01-01

    Full Text Available

    ENGLISH ABSTRACT: This article, presented in two parts, explains how to apply the Theory of Constraints (TOC in a business to increase Economic Value Added (EVA. The first part deals with the theory, while the second part deals with the implementation. The goal of a business, the measurements of the goal and the priority of the measurements are discussed. The future reality of a company which implements TOC principles is shown through cause and effect to lead to an increase in EVA. The increase in EVA is caused by an increase in return on investment and a reduction in the cost of capital. The actions the company must take to increase EVA is presented.

    AFRIKAANSE OPSOMMING: Hierdie artikel, aangebied in twee dele, verduidelik hoe om die Teorie van Beperkinge (TVB in a besigheid toe te pas om Ekonomiese Toegevoegde Waarde (ETW te vermeerder. Die eerste gedeelte verduidelik die teorie, terwyl die tweede gedeelte die toepassing hanteer. Die doel van ’n besigheid, die maatstawwe van die doel en die prioriteit van die maatstawwe word bespreek. Deur middel van oorsaak en effek word gewys dat die toekomstige werklikheid van ’n besigheid wat TVB beginsels toepas lei tot ’n toename in ETW. Die toename in ETW word veroorsaak deur ’n toename in opbrengs op belegging en ’n afname in die koste van kapitaal. Die aksies wat ’n besigheid moet neem om ETW te vermeerder, word genoem.

  8. When Child Development Meets Economic Game Theory: An Interdisciplinary Approach to Investigating Social Development

    Science.gov (United States)

    Gummerum, Michaela; Hanoch, Yaniv; Keller, Monika

    2008-01-01

    Game theory has been one of the most prominent theories in the social sciences, influencing diverse academic disciplines such as anthropology, biology, economics, and political science. In recent years, economists have employed game theory to investigate behaviors relating to fairness, reciprocity, and trust. Surprisingly, this research has not…

  9. Design of Network Architectures: Role of Game Theory and Economics

    OpenAIRE

    Shetty, Nikhil

    2010-01-01

    The economics of the market that a network architecture enables has a important bearing on its success and eventual adoption. Some of these economic issues are tightly coupled with the design of the network architecture. A poor design could end up making certain markets very difficult to enable, even if they are in the better interest of society. Theanalysis of these cross-disciplinary problems requires understanding both the technology and the economic aspects. This thesis introduces three m...

  10. Gauge theories under incorporation of a generalized uncertainty principle

    International Nuclear Information System (INIS)

    Kober, Martin

    2010-01-01

    There is considered an extension of gauge theories according to the assumption of a generalized uncertainty principle which implies a minimal length scale. A modification of the usual uncertainty principle implies an extended shape of matter field equations like the Dirac equation. If there is postulated invariance of such a generalized field equation under local gauge transformations, the usual covariant derivative containing the gauge potential has to be replaced by a generalized covariant derivative. This leads to a generalized interaction between the matter field and the gauge field as well as to an additional self-interaction of the gauge field. Since the existence of a minimal length scale seems to be a necessary assumption of any consistent quantum theory of gravity, the gauge principle is a constitutive ingredient of the standard model, and even gravity can be described as gauge theory of local translations or Lorentz transformations, the presented extension of gauge theories appears as a very important consideration.

  11. Believing in economic theory: sex, lies, evidence, trust and ideology

    Czech Academy of Sciences Publication Activity Database

    Austin, Andrew; Wilcox, N. T.

    -, č. 238 (2004), s. 1-45 ISSN 1211-3298 R&D Projects: GA AV ČR KSK8002119 Institutional research plan: CEZ:AV0Z7085904 Keywords : ideology * double auction * economic and political attitudes Subject RIV: AH - Economics

  12. A feasible central limit theory for realised volatility under leverage

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole Eiler; Shephard, Neil

    In this note we show that the feasible central limit theory for realised volatility and realised covariation recently developed by Barndor-Nielsen and Shephard applies under arbitrary diusion based leverage eects. Results from a simulation experiment suggest that the feasible version of the limit...

  13. Prospect theory on the brain? Toward a cognitive neuroscience of decision under risk.

    Science.gov (United States)

    Trepel, Christopher; Fox, Craig R; Poldrack, Russell A

    2005-04-01

    Most decisions must be made without advance knowledge of their consequences. Economists and psychologists have devoted much attention to modeling decisions made under conditions of risk in which options can be characterized by a known probability distribution over possible outcomes. The descriptive shortcomings of classical economic models motivated the development of prospect theory (D. Kahneman, A. Tversky, Prospect theory: An analysis of decision under risk. Econometrica, 4 (1979) 263-291; A. Tversky, D. Kahneman, Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5 (4) (1992) 297-323) the most successful behavioral model of decision under risk. In the prospect theory, subjective value is modeled by a value function that is concave for gains, convex for losses, and steeper for losses than for gains; the impact of probabilities are characterized by a weighting function that overweights low probabilities and underweights moderate to high probabilities. We outline the possible neural bases of the components of prospect theory, surveying evidence from human imaging, lesion, and neuropharmacology studies as well as animal neurophysiology studies. These results provide preliminary suggestions concerning the neural bases of prospect theory that include a broad set of brain regions and neuromodulatory systems. These data suggest that focused studies of decision making in the context of quantitative models may provide substantial leverage towards a fuller understanding of the cognitive neuroscience of decision making.

  14. New Directions in the Economic Theory of the Environment

    Science.gov (United States)

    Carraro, Carlo; Siniscalco, Domenico

    1998-01-01

    This volume provides a broad survey of the recent developments in the new economics of the environment and reports the state of the art on a new set of environmental problems, analytical tools and economic policies. Throughout the volume environmental problems are analyzed in an open, generally noncompetitive economy with transnational or global externalities. The first part deals with the relationship between the environment, economic growth and technological innovation. The second part analyzes the optimal design of environmental taxation, while the third part considers the international dimension of environmental policy.

  15. Managing Bad Loans of Domestic Banks under Modern Economic Conditions

    Directory of Open Access Journals (Sweden)

    Bolhar Tetyana M.

    2014-01-01

    Full Text Available The article considers main methods of management of bad bank loans under modern economic conditions, conducts analysis of internal and external banking methods used by Ukrainian banks, and specifies and identifies their advantages and shortcomings. In the result of the study the article analyses in detail the use of the methods of rehabilitation and liquidation of bad loans. It considers organisation of internal and external banking methods of liquidation of bad loans, considers mechanism of their conduct and identifies advantages and shortcomings of their application both for a bank and a borrower. Prospect of further studies in this direction is improvement of methods of assessment of bad loans, in particular, development of methodological approaches to identification of assessment of profitability of bad loans as an important element of the system of management of bad loans of a bank.

  16. How does economic theory explain the Hubbert peak oil model?

    International Nuclear Information System (INIS)

    Reynes, F.; Okullo, S.; Hofkes, M.

    2010-01-01

    The aim of this paper is to provide an economic foundation for bell shaped oil extraction trajectories, consistent with Hubbert's peak oil model. There are several reasons why it is important to get insight into the economic foundations of peak oil. As production decisions are expected to depend on economic factors, a better comprehension of the economic foundations of oil extraction behaviour is fundamental to predict production and price over the coming years. The investigation made in this paper helps us to get a better understanding of the different mechanisms that may be at work in the case of OPEC and non-OPEC producers. We show that profitability is the main driver behind production plans. Changes in profitability due to divergent trajectories between costs and oil price may give rise to a Hubbert production curve. For this result we do not need to introduce a demand or an exploration effect as is generally assumed in the literature.

  17. A theory of organized crime, corruption and economic growth

    OpenAIRE

    Rana, MP; Blackbourn, K; Neanidis, KC

    2017-01-01

    We develop a framework for studying the interactions between organized crime and corruption, together with the individual and combined effects of these phenomena on economic growth. Criminal organizations co-exist with law-abiding productive agents and potentially corrupt law enforcers. The crime syndicate obstructs the economic activities of agents through extortion, and may pay bribes to law enforcers in return for their compliance in this. We show how organized crime has a negative effect ...

  18. A Theory of Organized Crime, Corruption and Economic Growth

    OpenAIRE

    Blackburn, Keith; Neanidis, Kyriakos; Rana, Maria Paola

    2017-01-01

    We develop a framework for studying the interactions between organized crime and corruption, together with the individual and combined e¤ects of these phenomena on economic growth. Criminal organizations co-exist with law-abiding productive agents and potentially corrupt law enforcers. The crime syndicate obstructs the economic activities of agents through extortion, and may pay bribes to law enforcers in return for their compliance in this. We show how organized crime has a negative e¤ect on...

  19. Economic fluctuations in a small economy with two productive sectors under a floating exchange rate regime

    Directory of Open Access Journals (Sweden)

    José Ustorgio Mora Mora

    2013-06-01

    Full Text Available This paper presents a theoretical model of aggregate supply and demand in a small economy with two productive sectors, under a flexible exchange regime and imperfect capital mobility. Only one of the production sectors is assumed to produce an exportable commodity sold at world market prices, while the production of the other sector is assumed to supply the domestic market. This model helps to explain how the impact of both domestic (economic policy, productivity, etc. and foreign (changes in exchange terms shocks is spread. In every case studied, results show that real output increases consistently with those cases postulated by economic theory. Conversely, the effects on the price level, the exchange rate and the real interest rate are ambiguous. In terms of domestic shocks, fiscal or monetary policy may be seen as a way to stabilize or stimulate the economy but the costs involved raise the price level.

  20. THE ECONOMIC BASIS IN ORGANISATIONAL BEHAVIOUR – BEHAVIOURAL THEORY OF THE FIRM

    OpenAIRE

    VIRGINIA BĂLEANU

    2007-01-01

    From the economic sciences’ stand point, the process of decision making, including aspects concerning with establishing organizational objectives, is the object of the firm theories. So, these theories that reflect the management’s responsibility in the context of the relationships between people and the organization may be considered the economic basis of organisational behaviour. Parkinson’s Law and the Peter Principle are unconventional examples of the organisational practices that prove t...

  1. STATE AND ECONOMY IN BOURGEOISIES ECONOMIC THEORIES: A CRITICAL APPROACH

    Directory of Open Access Journals (Sweden)

    Verena Hernández-Pérez

    2016-01-01

    Full Text Available The issue of state-economy relationship has been present throughout the history of bourgeois economic thought. In the bourgeois liberal tradition the distinction between civil society and state has been presented as total and necessary, reserving to the first one the monopoly of economic activity, based on the principle of self-regulating market. From Keynes bourgeois economists were divided into two sides, one side those who still deny the state capacity to intervene right in the economy, and the other those who recognize the need for their participation. This paper proposes a critical approach to the major bourgeois theoretical positions on the relationship state-economy. 

  2. Basic economic principles of road pricing: From theory to applications

    NARCIS (Netherlands)

    Rouwendal, J.; Verhoef, E.T.

    2006-01-01

    This paper presents, a non-technical introduction to the economic principles relevant for transport pricing design and analysis. We provide the basic rationale behind pricing of externalities, discuss why simple Pigouvian tax rules that equate charges to marginal external costs are not optimal in

  3. Economic theory and evidence on smoking behavior of adults.

    Science.gov (United States)

    Sloan, Frank A; Wang, Yang

    2008-11-01

    To describe: (i) three alternative conceptual frameworks used by economists to study addictive behaviors: rational, imperfectly rational and irrational addiction; (ii) empirical economic evidence on each framework and specific channels to explain adult smoking matched to the frameworks; and (iii) policy implications for each framework. A systematic review and appraisal of important theoretical and empirical economic studies on smoking. There is some empirical support for each framework. For rational and imperfectly rational addiction there is some evidence that anticipated future cigarette prices influence current cigarette consumption, and quitting costs are high for smokers. Smokers are more risk-tolerant in the financial domain than are others and tend to attach a lower value to being in good health. Findings on differences in rates of time preference by smoking status are mixed; however, short-term rates are higher than long-term rates for both smokers and non-smokers, a stylized fact consistent with hyperbolic discounting. The economic literature lends no empirical support to the view that mature adults smoke because they underestimate the probability of harm to health from smoking. In support of the irrationality framework, smokers tend to be more impulsive than others in domains not related directly to smoking, implying that they may be sensitive to cues that trigger smoking. Much promising economic research uses the imperfectly rational addiction framework, but empirical research based on this framework is still in its infancy.

  4. Ideas for Teaching Economics Derived from Learning Theory.

    Science.gov (United States)

    Armento, Beverly J.

    1987-01-01

    This article identifies some behaviorial approaches for teaching economics at the pre-college level, including contiguity, classical conditioning, operant conditioning, and social learning. The cognitive school of thought is also considered. Implications of research on problem-solving are drawn. (CB)

  5. An economic theory-based explanatory model of agricultural land-use patterns

    NARCIS (Netherlands)

    Diogo, V.; Koomen, E.; Kuhlman, T.

    2015-01-01

    An economic theory-based land-use modelling framework is presented aiming to explain the causal link between economic decisions and resulting spatial patterns of agricultural land use. The framework assumes that farmers pursue utility maximisation in agricultural production systems, while

  6. Was Weber Wrong? A Human Capital Theory of Protestant Economic History. PEPG/07-04

    Science.gov (United States)

    Becker, Sascha O.; Wohmann, Ludger

    2007-01-01

    Max Weber attributed the higher economic prosperity of Protestant regions to a Protestant work ethic. We provide an alternative theory, where Protestant economies prospered because instruction in reading the Bible generated the human capital crucial to economic prosperity. County-level data from late 19th-century Prussia reveal that Protestantism…

  7. The economic theory contribution to the energy discussions

    International Nuclear Information System (INIS)

    Percebois, J.

    1999-01-01

    How useful is the energy theory to manage and to forecast the energy policy? The author answers this question in words of energy and development, energy tariffs, energy transportation and distribution and relation with the government policy. (A.L.B.)

  8. CITRICULTURE ECONOMIC AND FINANCIAL EVALUATION UNDER CONDITIONS OF UNCERTAINTY

    Directory of Open Access Journals (Sweden)

    DANILO SIMÕES

    2015-12-01

    Full Text Available ABSTRACT The citriculture consists in several environmental risks, as weather changes and pests, and also consists in considerable financial risk, mainly due to the period ofreturn on the initial investment. This study was motivated by the need to assess the risks of a business activity such as citriculture. Our objective was to build a stochastic simulation model to achieve the economic and financial analysis of an orange producer in the Midwest region of the state of Sao Paulo, under conditions of uncertainty. The parameters used were the Net Present Value (NPV, the Modified Internal Rate of Return(MIRR, and the Discounted Payback. To evaluate the risk conditions we built a probabilistic model of pseudorandom numbers generated with Monte Carlo method. The results showed that the activity analyzed provides a risk of 42.8% to reach a NPV negative; however, the yield assessed by MIRR was 7.7%, higher than the yield from the reapplication of the positive cash flows. The financial investment pays itself after the fourteenth year of activity.

  9. Economics of climate change under uncertainty. Benefits of flexibility

    International Nuclear Information System (INIS)

    Anda, Jon; Golub, Alexander; Strukova, Elena

    2009-01-01

    The selection of climate policy has to be made in an extremely uncertain environment: both benefits and costs of a particular climate policy are unknown and in the best case could be described by the probability distribution of various outcomes. Dominated in literature, the expected value approach to the cost-benefit analysis of climate policy under uncertainties relies on the aggregated estimation of various outcomes of climate policy weighted and averaged by probabilities. The variance, skewness, and kurtosis are important characteristics of uncertainties but can be easily lost in the process of aggregation. The real option analysis (ROA) explicitly accounts for both the expected value of underling assets and the variance of the expected value (as well as skewness and kurtosis that are important to describe a fat tail phenomenon). In the paper, we propose an application of the real option analysis in order to formulate rules for the selection of a climate policy (emission target) and estimate the economic value of the future flexibility created by interim climate policy, which may be corrected in the future in response to new knowledge that hopefully reduces uncertainties. The initially selected interim policy has an option value and methodology for its valuation presented in the paper. (author)

  10. The Economic Importance of Financial Literacy: Theory and Evidence.

    Science.gov (United States)

    Lusardi, Annamaria; Mitchell, Olivia S

    2014-03-01

    This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy.

  11. Economic model predictive control theory, formulations and chemical process applications

    CERN Document Server

    Ellis, Matthew; Christofides, Panagiotis D

    2017-01-01

    This book presents general methods for the design of economic model predictive control (EMPC) systems for broad classes of nonlinear systems that address key theoretical and practical considerations including recursive feasibility, closed-loop stability, closed-loop performance, and computational efficiency. Specifically, the book proposes: Lyapunov-based EMPC methods for nonlinear systems; two-tier EMPC architectures that are highly computationally efficient; and EMPC schemes handling explicitly uncertainty, time-varying cost functions, time-delays and multiple-time-scale dynamics. The proposed methods employ a variety of tools ranging from nonlinear systems analysis, through Lyapunov-based control techniques to nonlinear dynamic optimization. The applicability and performance of the proposed methods are demonstrated through a number of chemical process examples. The book presents state-of-the-art methods for the design of economic model predictive control systems for chemical processes. In addition to being...

  12. Capital gains in economic theory and national accounting

    Directory of Open Access Journals (Sweden)

    J. STEINDL

    1998-12-01

    Full Text Available Capital gains are ironically one of the least studied concepts in economics despite their crucial role in national accounting. Although capital gains are technically not involved in the circular flow of production and incomes, they are a vital determinants of consumer credit and personal savings. Recent findings, in fact, correlate capital gains with the prevalence of inflationary pressures and gyrations on spending in assets.

  13. Örn B. Bodvarsson & Hendrik Van den Berg, The Economics of Immigration: Theory and Policy

    OpenAIRE

    DOUGLAS, Kacey

    2015-01-01

    Abstract. The Economics of Immigration: Theory and Policy (Second edition)is designed as a survey book that addresses all facets of immigration. Though there is a great amount of information regarding immigration, the complexity of the topic has resulted in an absence of any comprehensive book the covers a wide range of issues. The book covers immigration theory, empirical evidence regarding those theories, special issues in immigration, and immigration policy throughout the world. Designed a...

  14. The contribution of several Nobel Laureates in the development of the Theory of general economic equilibrium

    OpenAIRE

    Florentina Xhelili Krasniqi; Rahmie Topxhiu; Donat Rexha

    2016-01-01

    Nobel Laureates with their contributions to the development of the theory of general equilibrium have enabled this theory to be one of the most important for theoretical and practical analysis of the overall economy and the efficient use of economic resources. Results of the research showing that contributions of Nobel Laureates in the economy belong to two main frameworks of development of the general equilibrium theory: one was the mathematical model of general equilibrium developed by J...

  15. Productive Systems and the Structuring Role of Economic and Social Theories

    OpenAIRE

    Frank Wilkinson

    2002-01-01

    The institutions of productive systems are structured by mutual interests and relative power. Securing mutually beneficial cooperation in production requires resolving distributional differences. These objectives are secured in liberal economic theory by the working of markets which mediate the power of individuals and reward individual success. The centrality of individuals and hierarchies in market theory contrasts with developments in labour management theory which identifies group activit...

  16. Topics in mathematical economics and game theory essays in honor of Robert J. Aumann

    CERN Document Server

    Wooders, Myrna H

    1999-01-01

    Since the publication of Theory of Games and Economic Behavior by von Neumann and Morgenstern, the concept of games has played an increasing role in economics. It also plays a role of growing importance in other sciences, including biology, political science, and psychology. Many scientists have made seminal advances and continue to be leaders in the field, including Harsanyi, Shapley, Shubik, and Selten. Professor Robert Aumann, in addition to his important contributions to game theory and economics, made a number of significant contributions to mathematics. This volume provides a collection

  17. Analysis of North Korea's Nuclear Tests under Prospect Theory

    International Nuclear Information System (INIS)

    Lee, Han Myung; Ryu, Jae Soo; Lee, Kwang Seok; Lee, Dong Hoon; Jun, Eunju; Kim, Mi Jin

    2013-01-01

    North Korea has chosen nuclear weapons as the means to protect its sovereignty. Despite international society's endeavors and sanctions to encourage North Korea to abandon its nuclear ambition, North Korea has repeatedly conducted nuclear testing. In this paper, the reason for North Korea's addiction to a nuclear arsenal is addressed within the framework of cognitive psychology. The prospect theory addresses an epistemological approach usually overlooked in rational choice theories. It provides useful implications why North Korea, being under a crisis situation has thrown out a stable choice but taken on a risky one such as nuclear testing. Under the viewpoint of prospect theory, nuclear tests by North Korea can be understood as follows: The first nuclear test in 2006 is seen as a trial to escape from loss areas such as financial sanctions and regime threats; the second test in 2009 was interpreted as a consequence of the strategy to recover losses by making a direct confrontation against the United States; and the third test in 2013 was understood as an attempt to strengthen internal solidarity after Kim Jong-eun inherited the dynasty, as well as to enhance bargaining power against the United States. Thus, it can be summarized that Pyongyang repeated its nuclear tests to escape from a negative domain and to settle into a positive one. In addition, in the future, North Korea may not be willing to readily give up its nuclear capabilities to ensure the survival of its own regime

  18. PUBLIC ADMINISTRATION OF ECONOMIC DEVELOPMENT IN THE CONTEXT OF THE INSTITUTIONAL THEORY

    Directory of Open Access Journals (Sweden)

    Valentina Dudchenko

    2018-01-01

    Full Text Available One of the priorities of socio-economic reform in Ukraine is the modernization of the structure of the national economy and its growth. An effective structure of the economy, which will correspond to a socially oriented model of economic growth and will be based on the use of both the country’s competitive advantages in the global division of labour and the economic benefits of cooperation, will guarantee the independence of any country and will be the key to its dynamic development. The development of economic theory is due to the emergence of fundamentally new ideas, sustainable accumulation of knowledge, intellectual and meaningful updating of established concepts and theories, the formation of new scientific schools. A new paradigm of economic theory should explain the real processes in real economies, which operate on the principles of complex systems of synergistic nature and the theory of nonlinear dynamics. There is a process of theoretical polystructuredness both of mainstream and heterodoxy. An important task is to form an interdisciplinary dialogue between economists and scientists, which stipulates the relevance of the research topic. The subject of the study is the theoretical and methodological foundations and approaches to state management of economic development in the context of the institutional theory. The purpose of the study is to determine the role and influence of public administration of the development of the economy in the context of institutional theory and to develop strategic goals of the state’s innovation policy. Methodology. Directions of correlation of the system of economic development of the country and the potential of the state development with the historical preconditions for the emergence and development of the institutional doctrine of economic theory are investigated. Based on the revealed interrelations, the necessity of using instruments of institutionalism for studying the economic development

  19. 7 CFR 2.63 - Deputy Under Secretary for Research, Education, and Economics.

    Science.gov (United States)

    2010-01-01

    ... Economics. 2.63 Section 2.63 Agriculture Office of the Secretary of Agriculture DELEGATIONS OF AUTHORITY BY... Under Secretary for Research, Education, and Economics § 2.63 Deputy Under Secretary for Research, Education, and Economics. Pursuant to § 2.21(a), subject to reservations in § 2.21(b), and subject to policy...

  20. Theory of intellectual property. Fundations on philosophy, law and economics

    Directory of Open Access Journals (Sweden)

    David Felipe Álvarez Amézquita

    2015-06-01

    Full Text Available Intellectual property as any branch of law has several dimensions. Two traditional are: practical and theoretical. In the first patents are granted or registration certificates of works are requested, among many other procedures where no doubt there are ambiguities that deserve clarification. In the second the fundamentals are analyzed and criticized in search of articulation without adherence to procedural questions. However, after a review of the expert literature, we find that the latter dimension of intellectual property (IP has little literature. This article analyzes and articulates the most important foundations available in philosophy, law and economics on IP, helping to consolidate the theoretical dimension on the subject.

  1. Topological vector spaces admissible in economic equilibrium theory

    DEFF Research Database (Denmark)

    Keiding, Hans

    2009-01-01

    In models of economic equilibrium in markets with infinitely many commodities, the commodity space is an ordered topological vector space endowed with additional structure. In the present paper, we consider ordered topological vector spaces which are admissible (for equilibrium analysis) in the s......) in the sense that every economy which is reasonably well behaved posesses an equilibrium. It turns out that this condition may be characterized in terms of topology and order. This characterization implies that the commodity space has the structure of a Kakutani space....

  2. Economic activity in agriculture in the perspective of embeddedness theory: The case of Poland

    Directory of Open Access Journals (Sweden)

    Dudek Michał

    2016-01-01

    Full Text Available The paper presents the concept of embeddedness of economic activity in relation to agriculture. In this perspective, economic activity can be considered dependent on cognitive structures, structures of social relations, culture, and political institutions. It has been concluded that the idea of embeddedness can be an interesting and useful analytical tool for the analysis of economic activity undertaken by farmers. The article presents an analysis of the state of the art, as well uses selected information and data on the methodology of panel surveys carried out by the Institute of Agricultural and Food Economics - National Research Institute. Based on the analysis of the embeddedness theory, it is argued that embeddedness is not a coherent theoretical concept but rather a potential framework for investigating various economic issues. One of these issues is agricultural activity. Embeddedness framework constitutes a scheme which could organize an alternative approach to economic actions to mainstream agriculture economics.

  3. Entrepreneurship and the Economic Theory of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    2004-01-01

    . Because judgmentcannot be purchased on the market, the entrepreneur needs a firm — a set of alienableassets he controls — to carry out his function. We show how this notion of judgmentilluminates key themes in the modern theory of the firm (existence, boundaries,and internal organization). In our approach......, resource uses are not data, but are createdas entrepreneurs envision new ways of using assets to produce final goods. Theentrepreneur's problem is aggravated by the fact that capital assets are heterogeneous.Asset ownership allows the entrepreneur to experiment with novel combinationsof heterogeneous...

  4. An economic theory of patient decision-making.

    Science.gov (United States)

    Stewart, Douglas O; DeMarco, Joseph P

    2005-01-01

    Patient autonomy, as exercised in the informed consent process, is a central concern in bioethics. The typical bioethicist's analysis of autonomy centers on decisional capacity--finding the line between autonomy and its absence. This approach leaves unexplored the structure of reasoning behind patient treatment decisions. To counter that approach, we present a microeconomic theory of patient decision-making regarding the acceptable level of medical treatment from the patient's perspective. We show that a rational patient's desired treatment level typically departs from the level yielding an absence of symptoms, the level we call ideal. This microeconomic theory demonstrates why patients have good reason not to pursue treatment to the point of absence of physical symptoms. We defend our view against possible objections that it is unrealistic and that it fails to adequately consider harm a patient may suffer by curtailing treatment. Our analysis is fruitful in various ways. It shows why decisions often considered unreasonable might be fully reasonable. It offers a theoretical account of how physician misinformation may adversely affect a patient's decision. It shows how billing costs influence patient decision-making. It indicates that health care professionals' beliefs about the 'unreasonable' attitudes of patients might often be wrong. It provides a better understanding of patient rationality that should help to ensure fuller information as well as increased respect for patient decision-making.

  5. THE THEORY OF NON-PROFIT ALTERNATIVE ECONOMY AS THE BASIS FOR A NEW ECONOMIC OUTLOOK

    Directory of Open Access Journals (Sweden)

    V. V. Myamlin

    2009-03-01

    Full Text Available The conflicts of existing financial-and-economic model of management are revealed. The groundlessness of profit-financial economic model based only on a profit approach is shown. The alienation of this model from general laws of the Nature is demonstrated. As an argument of absence of additional product the scheme of rotation of substances in the Nature is given. It is suggested to build the laws of economics starting not from idea considerations of those or other social groups but from general laws of the Nature. A new basic economic ideology – the theory of non-profitable economy – is proposed.

  6. Time horizons and electricity futures: An application of Nicholas Georgescu-Roegen's general theory of economic production

    Energy Technology Data Exchange (ETDEWEB)

    Farrell, Katharine N. [Department of Economics, Helmholtz Centre for Environmental Research - UFZ, Permoserstr. 15, 04318 Leipzig (Germany); Gibson Institute for Land, Food and Environment, Queen' s University of Belfast, Northern Ireland (United Kingdom); Mayumi, Kozo [Faculty of Integrated Arts and Sciences, The University of Tokushima (Japan)

    2009-03-15

    This paper reports theoretical economic production work and uses electricity futures trading to illustrate its argument. The focus is relationships between time, production and tradition both in Nicholas Georgescu-Roegen's analytical representation of the production process (i.e., flow/fund model) and in his dialectical scheme dealing with the evolutionary changes in the economic process. Our main arguments are (1) the flow/fund model is designed to be employed in conjunction with attention to how the boundaries of a given process are determined and (2) process boundaries are dialectical distinctions - between process and not-process - that are strongly related to time and tradition. We propose that Georgescu-Roegen's The Entropy Law and the Economic Process is best understood as the elaboration of a general theory of economic production and we developed two conceptual tools (time {open_square} and meta-funds), both of which are related to the dialectical distinction between process and not-process, which we use to operationalise this general theory. Finally, we demonstrate that, although trading in electricity futures is surprising if one uses a stock/flow vs services distinction (because electricity supply is classed as a service) it appears perfectly logical under Georgescu-Roegen's general theory: shortening time horizons, combined with a shift in the relationship between raw fuel supplies and power production procedures, lead to a shift in the status of electricity supply, from fund to flow. (author)

  7. Quantifying Urban Fragmentation under Economic Transition in Shanghai City, China

    Directory of Open Access Journals (Sweden)

    Heyuan You

    2015-12-01

    Full Text Available Urban fragmentation affects sustainability through multiple impacts on economic, social, and environmental cost. Characterizing the dynamics of urban fragmentation in relation to economic transition should provide implications for sustainability. However, rather few efforts have been made in this issue. Using the case of Shanghai (China, this paper quantifies urban fragmentation in relation to economic transition. In particular, urban fragmentation is quantified by a time-series of remotely sensed images and a set of landscape metrics; and economic transition is described by a set of indicators from three aspects (globalization, decentralization, and marketization. Results show that urban fragmentation presents an increasing linear trend. Multivariate regression identifies positive linear correlation between urban fragmentation and economic transition. More specifically, the relative influence is different for the three components of economic transition. The relative influence of decentralization is stronger than that of globalization and marketization. The joint influences of decentralization and globalization are the strongest for urban fragmentation. The demonstrated methodology can be applicable to other places after making suitable adjustment of the economic transition indicators and fragmentation metrics.

  8. The contribution of economic theory to the energy debates; L'apport de la theorie economique aux debats energetiques

    Energy Technology Data Exchange (ETDEWEB)

    Percebois, J

    1999-11-01

    This paper proposes a brief overview of the contributions of the micro- and macro-economic theory to the answer of the following four main questions: 1 - how will change the world energy demand with respect to the economic activity and what will be the determining factors of this demand, globally and per energy source? What are the respective roles of energy prices and technological innovations? How will change the petroleum price and what will be the share of economical and political weight in this change? 2 - how passing on this price to the end-user taking into consideration the national preferences? Is there an optimum price when the energy producing, transporting and distributing company is a monopoly? 3 - what is the optimal structure of a network industry? 4 - how to integrate the local and global externalities characteristic of the energy sector in the economical calculus? (J.S.)

  9. The contribution of economic theory to the energy debates; L'apport de la theorie economique aux debats energetiques

    Energy Technology Data Exchange (ETDEWEB)

    Percebois, J.

    1999-11-01

    This paper proposes a brief overview of the contributions of the micro- and macro-economic theory to the answer of the following four main questions: 1 - how will change the world energy demand with respect to the economic activity and what will be the determining factors of this demand, globally and per energy source? What are the respective roles of energy prices and technological innovations? How will change the petroleum price and what will be the share of economical and political weight in this change? 2 - how passing on this price to the end-user taking into consideration the national preferences? Is there an optimum price when the energy producing, transporting and distributing company is a monopoly? 3 - what is the optimal structure of a network industry? 4 - how to integrate the local and global externalities characteristic of the energy sector in the economical calculus? (J.S.)

  10. THE INTERNATIONALISATION OF ACCOUNTING EDUCATION UNDER ECONOMIC GLOBALISATION

    Institute of Scientific and Technical Information of China (English)

    JialinXu

    2004-01-01

    This paper maintains that the trend toward economic globalisation, along with the resulting expectations and call for the internationalisation of accounting systems,are the basis for the concept of internationalizing Chinese accounting education. In fact, such dramatic changes in the economic and business environment have triggered suggestions for major changes in the accounting profession from the eight economic coordination organisations and international accounting bodies, which further reinforces the notion of internationalisation. Our current accounting pedagogy should reform in order to reflect the internationalisation of accounting education.

  11. Special Issue: Aspects of Game Theory and Institutional Economics

    Directory of Open Access Journals (Sweden)

    Wolfram Elsner

    2014-09-01

    Full Text Available Classical economists from Adam Smith to Thomas Malthus and to Karl Marx have considered the importance of direct interdependence and direct interactions for the economy. This was even more the case for original institutionalist thinkers such as Thorstein Veblen, John Commons, and Clarence Ayres. In their writings, direct interdependence, interactions (or transactions among agents, with all beneficial and with all problematic consequences, took center stage in economic analysis. Why, for instance, do people adhere to a particular new fashion or trend? Because others do, after eminent people, wealthy people, the “leisure class” (T. Veblen, have made it a symbol for status. The new fashion, however, ceases to serve as such a symbol once too many people follow it. The constant effort put into following trends and adopting fashion turns out to be a social dilemma, driven by Veblenian instincts, such as invidious distinction in predatory societies, conspicuous consumption and emulation. [...

  12. Defining competitiveness through the theories of new economic geography and regional economy

    Directory of Open Access Journals (Sweden)

    Vuković Darko

    2012-01-01

    Full Text Available The subject of work is defining competitiveness through a multidisciplinary approach of the theories of new economic geography and regional economy. The paper describes in detail the theory of competitiveness, defined by numerous authors in this area, with special emphasis on the opposing views of Michael Porter and Paul Krugman. A regional competitiveness that is colsely related to economic geography and regional economy, the development of regional economy and typology of regions have been defined in the work. One of the first authors that stressed the importance of geographical location was Michael Porter. In his model called “diamond“, the author emphasizes that geographical concentration of a business enhances the productivity, innovativity and sector export. After this theory, many authors have foccussed on the location problem research, which resulted in better interconnection of economy and geography. As the result of such activities, new directions have been developed, such as the new theory of economic geography and regional economy. New economic geography has been mentioned mostly in connection with the Nobel Prize winner, Paul Krugman, whose theories are often opposed to Porter's ones. Krugman had the most credit for the development of New Economic Geography. At the end of the work, the differences between comparative and competitive adventages were explained. [Projekat Ministarstva nauke Republike Srbije, br. 47007, br. 47009 i br. 179015

  13. Season of Hope: Economic Reform under Mandela and Mbeki ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    "An insightful, enlightening and solid economic history of South Africa's first decade of democracy." —The ... in 1994, South Africa was one of the most unequal societies in the world. ... Asian outlook: New growth dependent on new productivity.

  14. Global Economy under the Current Economic Crisis Effects

    OpenAIRE

    Voicu Ioana-Iulica; Talmaciu Iuliana

    2010-01-01

    In the current context in which countries in the world search new solutions and strategies to counteract the negative effects generated by the worst economic crisis in the last 80 years, the globalisation rises polemics and controversies regarding the causes that lead to the expansion of the crisis. May it be, the current economic crisis, a consequence of the globalisation? Beyond the contradictory answers, the globalisation must be seen in essence as a stimulating and expansion factor of the...

  15. T.I.Tech./K.E.S. Conference on Nonlinear and Convex Analysis in Economic Theory

    CERN Document Server

    Takahashi, Wataru

    1995-01-01

    The papers collected in this volume are contributions to T.I.Tech./K.E.S. Conference on Nonlinear and Convex Analysis in Economic Theory, which was held at Keio University, July 2-4, 1993. The conference was organized by Tokyo Institute of Technology (T. I. Tech.) and the Keio Economic Society (K. E. S.) , and supported by Nihon Keizai Shimbun Inc .. A lot of economic problems can be formulated as constrained optimiza­ tions and equilibrations of their solutions. Nonlinear-convex analysis has been supplying economists with indispensable mathematical machineries for these problems arising in economic theory. Conversely, mathematicians working in this discipline of analysis have been stimulated by various mathematical difficulties raised by economic the­ ories. Although our special emphasis was laid upon "nonlinearity" and "con­ vexity" in relation with economic theories, we also incorporated stochastic aspects of financial economics in our project taking account of the remark­ able rapid growth of this dis...

  16. Towards a Theory of Revealed Economic Behavior: The Economic-Neurosciences Interface

    NARCIS (Netherlands)

    Pennings, J.M.E.; Garcia, P.; Hendrix, E.M.T.

    2005-01-01

    Based on recent findings from economics and the neurosciences, we present a conceptual decision-making model that provides insight into human decision-making and illustrates how behavioral outcomes are transformed into phenomena. The model may be viewed as a bridge between the seemingly disparate

  17. Understanding how biodiversity unfolds through time under neutral theory.

    Science.gov (United States)

    Missa, Olivier; Dytham, Calvin; Morlon, Hélène

    2016-04-05

    Theoretical predictions for biodiversity patterns are typically derived under the assumption that ecological systems have reached a dynamic equilibrium. Yet, there is increasing evidence that various aspects of ecological systems, including (but not limited to) species richness, are not at equilibrium. Here, we use simulations to analyse how biodiversity patterns unfold through time. In particular, we focus on the relative time required for various biodiversity patterns (macroecological or phylogenetic) to reach equilibrium. We simulate spatially explicit metacommunities according to the Neutral Theory of Biodiversity (NTB) under three modes of speciation, which differ in how evenly a parent species is split between its two daughter species. We find that species richness stabilizes first, followed by species area relationships (SAR) and finally species abundance distributions (SAD). The difference in timing of equilibrium between these different macroecological patterns is the largest when the split of individuals between sibling species at speciation is the most uneven. Phylogenetic patterns of biodiversity take even longer to stabilize (tens to hundreds of times longer than species richness) so that equilibrium predictions from neutral theory for these patterns are unlikely to be relevant. Our results suggest that it may be unwise to assume that biodiversity patterns are at equilibrium and provide a first step in studying how these patterns unfold through time. © 2016 The Author(s).

  18. Estimating total economic merit for the Portuguese Holstein cattle population under new economic conditions

    Directory of Open Access Journals (Sweden)

    Joana B.M. Almeida

    2013-12-01

    Full Text Available The objective of this study was to develop a total economic merit index that identifies more profitable animals using Portugal as a case study to illustrate the recent economic changes in milk production. Economic values were estimated following future global prices and EU policy, and taking into consideration the priorities of the Portuguese dairy sector. Economic values were derived using an objective system analysis with a positive approach, that involved the comparison of several alternatives, using real technical and economic data from national dairy farms. The estimated relative economic values revealed a high importance of production traits, low for morphological traits and a value of zero for somatic cell score. According to several future market expectations, three scenarios for milk production were defined: a realistic, a pessimistic and an optimistic setting, each with projected future economic values. Responses to selection and efficiency of selection of the indices were compared to a fourth scenario that represents the current selection situation in Portugal, based on individual estimated breeding values for milk yield. Although profit resulting from sale of milk per average lactation in the optimistic scenario was higher than in the realistic scenario, the volatility of future economic conditions and uncertainty about the future milk pricing system should be considered. Due to this market instability, genetic improvement programs require new definitions of profit functions for the near future. Effective genetic progress direction must be verified so that total economic merit formulae can be adjusted and selection criteria redirected to the newly defined target goals.

  19. Theories of practice - new inspiration for ecological economic studies on consumption

    DEFF Research Database (Denmark)

    Røpke, Inge

    2009-01-01

    The dynamics behind ever-increasing consumption have long been a core issue of ecological economics. Studies on this topic have traditionally drawn not only on insights from economics, but also from such disciplines as sociology, anthropology and psychology. In recent years, a practice theory...... approach has emerged in sociological consumption studies, as part of a general wave of renewed interest in practice theory emanating from a desire to move beyond such dominant dualisms as the structure-actor opposition in sociology. The purpose of this paper is to introduce the practice theory approach...... in relation to studies of everyday life, domestic practices and consumption, and to argue that this approach can be fruitful for ecological economics and other fields interested in the environmental aspects of consumption. The paper emphasizes the immense challenge involved in promoting sustainable...

  20. Toward behavioural innovation economics – Heuristics and biases in choice under novelty

    OpenAIRE

    Kate Morrison; Jason Potts

    2008-01-01

    A framework for ‘behavioural innovation economics’ is proposed here as a synthesis of behavioural economics and innovation economics in the specific context of choice under novelty. We seek to apply the heuristics and biases framework of behavioural economics to the study of the innovation process in order to map and analyze systematic choice failures in the innovation process. We elaborate the distinction between choice under uncertainty and choice under novelty, as well as drawing out the ‘...

  1. Links between economic and financial theory in graduate health administration education.

    Science.gov (United States)

    Pink, G H; Coyte, P C

    1989-01-01

    The curricula of graduate health administration programs have, historically, not articulated the theoretical links between health economics and health finance, although an understanding of these links could enhance comprehension of both disciplines. We provide a pedagogical approach that can be used to clarify these interconnections. It compares the standard neoclassical microeconomic concept of the hospital with the financial concept of the hospital, for the purpose of relating the optimal output decision in microeconomic theory to the optimal investment decision in financial theory. This approach can be taught in an advanced course in either economics or finance.

  2. On the economic growth theory with Kadiyala production function

    Science.gov (United States)

    Grassetti, Francesca; Hunanyan, Gevorg

    2018-05-01

    We study the discrete time neoclassical one-sector growth model with differential savings while assuming Kadiyala production function which shows a variable elasticity of substitution symmetric with respect to capital and labor. We show that, if workers save more than shareholders, then the growth path is bounded from above and the boundary is independent from the savings rate of shareholders. Moreover, the growth path for non-developed countries is influenced only by the savings rate of shareholders while level of capital per capita of developed economies is influenced by the savings rate of workers. We also show that multistability phenomena may occur so that the model is able to explain co-existence of under-developed, developing and developed economies. We prove that fluctuations and complex dynamics may arise when the elasticity of substitution between production factors is lower than one and shareholders save more than workers.

  3. Adaptive economic and ecological forest management under risk

    Science.gov (United States)

    Joseph Buongiorno; Mo Zhou

    2015-01-01

    Background: Forest managers must deal with inherently stochastic ecological and economic processes. The future growth of trees is uncertain, and so is their value. The randomness of low-impact, high frequency or rare catastrophic shocks in forest growth has significant implications in shaping the mix of tree species and the forest landscape...

  4. The Economic Theory and the Global Crisis, between Theoretical Solutions and the Economic Reality

    Directory of Open Access Journals (Sweden)

    Nicolae MOROIANU

    2011-06-01

    Full Text Available This work aims to study the evolution of the global crisis and its impact on various areas worldwide, as well as its impact on certain decisions which have been implemented by the authorized bodies.The general framework of this analysis starts with a short review of the relevant economic movements and trends; it continues with presenting the potential solutions aimed to overcome the dark period which is currently crossed by the contemporary economy.In the same time, the authors aim to highlight the impact of the monetary policies throughput the history on the real economy, until the current period.

  5. FISCAL EFFECTIVENESS UNDER REGIONAL ECONOMIC INTEGRATION: INDONESIAN AGRICULTURAL PERFORMANCE CASE

    Directory of Open Access Journals (Sweden)

    Nasrudin Nasrudin

    2013-04-01

    Full Text Available AbstractThis paper investigates the effectiveness of fiscal policy in boosting agricultural sector performance and seeks the most effective policy in the presence of regional economic integration. It predicts the effectiveness of fiscal policy on the agricultural sector performance in four periods; the new order regime, the economic crisis, and pre and post China Free Trade Area (CAFTA. It also predicts the impact of fiscal policy on agricultural sector performance when CAFTA is fully implemented. It finds that fiscal policy is more effective in the optimum allocation of expenditures. It also finds that the agricultural sector can grow faster when the portion of capital expenditure increases.Keywords: Fiscal effectiveness, economic integration, agricultureJEL Classification Numbers: E62, F15, Q17AbstrakMakalah ini menyelidiki efektivitas kebijakan fiskal dalam mendorong kinerja sektor pertanian dan mencari kebijakan yang paling efektif dengan adanya integrasi ekonomi regional. Makalah ini memprediksi efektivitas kebijakan fiskal dalam meningkatkan kinerja sektor pertanian dalam empat periode; rezim orde baru, krisis ekonomi, sebelum pelaksanaan China Free Trade Area (CAFTA, dan setelah pelaksanaan CAFTA. Makalah ini juga memprediksi dampak kebijakan fiskal terhadap kinerja sektor pertanian saat CAFTA sepenuhnya dilaksanakan. Hasil analisis menemukan bahwa kebijakan fiskal lebih efektif dalam alokasi optimal dari pengeluaran. Analisis juga menemukan bahwa sektor pertanian dapat tumbuh lebih cepat ketika porsi peningkatan belanja modal meningkat.Keywords: Efektivitas fiskal, integrasi ekonomi, pertanianJEL Classification Numbers: E62, F15, Q17

  6. Financial Transaction Tax: Determination of Economic Impact Under DSGE Model

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2015-01-01

    Full Text Available The discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008 and consequently of the massive financial interventions by governments made in favour of the financial sector. On 14 February 2013, after rejection of the draft of the directive introducing a common system of financial transaction tax in 2011, the European Commission introduced the financial transaction tax through enhanced cooperation. The aim of the paper is to research economic impact of financial transaction tax on EU (EU27 or EU11 with respect to the DSGE model which was used for the determination of impacts. Based on our analysis the DSGE model can be considered as underestimated in case of the impact on economic growth and an overestimated in case of the revenue collection. Particularly, the overall impact of the financial transaction tax considering cascade effects of securities (tax rate 2.2% and derivatives (tax rate 0.2% is ranged between −4.752 and 1.472 percent points of GDP. And further, is assumed that the relocation effects of business/trade can be in average 40% causes a decline of expected tax revenues in the amount of 13bn EUR. Thus, at a time of fragile economic growth across the EU and the increased risk of recession in Europe, the introduction of the FTT should be undesirable.

  7. Political Ideonomy of Rostow’s Stages of Economic Growth Theory

    Directory of Open Access Journals (Sweden)

    M. Mozafarinia

    2016-05-01

    Full Text Available The conditions of success and reasons for failure of development strategies and plans, are among the most important “development studies” issues. This has been explained in different ways: for example, there is a strong relationship between the efficiency of development strategies and plans and development theories. Based on paradigmatic-implicative theory, which explains the relationship between development theories and political thought and considers the development theory as one of the practical implications of political thought, a condition for the success of development strategies and development plans can be found to be rooted in the political thought foundation. Therefore, in the present article we explore the political thought supporting Rostow’s Stages of Economic Growth theory, as one of the oldest and most important development theories which in the 1960s resulted in understanding development as “growth”. We use qualitative content analysis method to show that the political foundation of Rostow’s Stages of Economic Growth theory is based on the principle of “the most utility for the most people” in accordance with Bentham’s utilitarian political thought.

  8. Theories of estimation of differentiation for regulation of social-economic development of the city agglomeration

    OpenAIRE

    Anikina, Yu; Litovchenko, V.

    2009-01-01

    Theories of estimation of differentiation of social-economic development of territorial units in city agglomeration are discussed in the article. Approbation of the given methods helped find out successfulness of the regulation of municipal development of administrative-territorial units in Krasnoyarsk agglomeration, set the goals of regional policy on peculiarities of development of the phenomenon of differentiation.

  9. What determines crime rates? An empirical test of integrated economic and sociological theories of criminal behavior

    NARCIS (Netherlands)

    Engelen, Peter Jan; Lander, Michel W.; van Essen, Marc

    Research on crime has by no means reached a definitive conclusion on which factors are related to crime rates. We contribute to the crime literature by providing an integrated empirical model of economic and sociological theories of criminal behavior and by using a very comprehensive set of

  10. The Idea of National HRD: An Analysis Based on Economics and Theory Development Methodology

    Science.gov (United States)

    Wang, Greg G.; Swanson, Richard A.

    2008-01-01

    Recent human resource development (HRD) literature focuses attention on national HRD (NHRD) research and represents problems in both HRD identity and research methodology. Based on a review of development economics and international development literature, this study analyzes the existing NHRD literature with respect to the theory development…

  11. The use of modern information technologies in teaching students of economics theory of probability

    Directory of Open Access Journals (Sweden)

    Иван Васильевич Детушев

    2013-12-01

    Full Text Available This article discusses the use of the program «MathCAD» in teaching students of economic specialties of mathematics. It is shown that the use of this software product contributes to the effective development of methods for solving problems of the theory of probability.

  12. Thirty Years of Prospect Theory in Economics: A Review and Assessment

    OpenAIRE

    Nicholas C. Barberis

    2013-01-01

    In 1979, Daniel Kahneman and Amos Tversky, published a paper in Econometrica titled "Prospect Theory: An Analysis of Decision under Risk." The paper presented a new model of risk attitudes called "prospect theory," which elegantly captured the experimental evidence on risk taking, including the documented violations of expected utility. More than 30 years later, prospect theory is still widely viewed as the best available description of how people evaluate risk in experimental settings. Howev...

  13. The capacity to choose: reformulating the concept of choice in economic theory

    Directory of Open Access Journals (Sweden)

    Mark S. Peacock

    2011-05-01

    Full Text Available Despite being conceived as a ‘theory of rational choice’, orthodox economics fails to ascribe to human beings the ability to choose in a meaningful sense, something philosophical approaches to economics have long noted and tried to remedy. Tony Lawson’s critical realism is one attempt at a remedy. If, following Lawson, one conceives of choice as a ‘capacity’ of human beings, critical realist analysis suggests a distinction between humans’ possession and their exercise of this capacity. If one can sustain this distinction, one should be able to distinguish cases in which agents actually exercise their capacity to choose from those in which they do not. Investigation of this distinction does not, however, lead to the desired distinction between such cases. Consequently, a reformulation of the notion of choice is required. An implication for economic theory – namely, the possibility of conceptualizing ‘exploitation’ – is discussed.

  14. The underlying principles of relativistic theory of gravitation

    International Nuclear Information System (INIS)

    Logunov, A.A.

    1989-01-01

    The paper deals with the main statements of relativistic theory of gravitation, constructed in result of critical analysis of the general theory of relativity. The principle of geometrization is formulated

  15. The possibility of behavioral new institutional economics

    OpenAIRE

    菊沢, 研宗

    2011-01-01

    Behavioral economics has recently been the subject of considerable research with the consequence that theories in behavioral economics and finance have complementarily developed to comprise a research field known as 'behavioral finance'. Subsequent studies seeking to integrate game theory and behavioral economics come under the 'behavioral game theory' umbrella, while those wanting to integrate contract theory and behavioral economics fall under 'behavioral contract theory'. Given such circum...

  16. China’s Institutional Architecture: A New Institutional Economics and Organization Theory Perspective on the Links between Local Governance and Local Enterprises

    NARCIS (Netherlands)

    B. Krug (Barbara); H. Hendrischke (Hans)

    2008-01-01

    textabstractWe start our exploration of China’s institutional change by asking what the China experience can tell us about institutional economics and organization theory. We point to under-researched areas such as the formation of firms and the interplay between firms and local politics. Our

  17. Military Authoritarian Regimes and Economic Development: The ROK's Economic Take-Off Under Park Chung Hee

    National Research Council Canada - National Science Library

    Park, Kisung

    2008-01-01

    .... ROK President Park Chung Hee seized control of political power by coup in 1961. Until he was assassinated in 1979, he acted both as dictator of South Korea's political order and as the founder of South Korean economic take-off...

  18. China's mineral resources security under economic globalization

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Y. [China University of Mining and Technology, Xuzhou (China). College of Environment and Spatial Informatics

    2002-10-01

    The concept and intention of mineral resources security are introduced. From the insurance and leverage that mineral resources has on China's socio-economic development, the strength of support, the opportunity and challenge imposed by globalised economy, the effect of mineral resource development on the safety of the eco-environment, the author analyses the basic situation and existing problem of the mineral resources security in China; summarizes the current research situation of mineral resources security and the main tactics which are used to ensure mineral resources security in the developed countries; presents the essence of mineral resources security, the basic principles of research and the problems focused; and points out the research areas and goals that should be strengthened urgently. 15 refs.

  19. Energy policy under the aspect of international economic interdependencies

    International Nuclear Information System (INIS)

    Michaelis, H.

    1978-01-01

    A few introductory remarks on the status of and on prospects fo the world energy economy as well as on reasons given for the necessity of a world-wide coordination of energy policy and economic policy are followed by an explanation of the policy led by oil extracting countries and of the endeavour of western industrialized countries to reduce oil imports. Even if the state of utilizing nuclear energy does not yet present a sufficient alternative, the international nuclear energy continues to be directed towards this goal. Seen from an international viewpoint, relieving contributions are to be expected from energy-conservation-actions and from the development of regenerative energy sources. (UA) [de

  20. Theories underlying health promotion interventions among cancer survivors.

    Science.gov (United States)

    Pinto, Bernardine M; Floyd, Andrea

    2008-08-01

    To review the theories that have been the basis for randomized controlled trials (RCTs) promoting health behavior change among adults diagnosed and treated for cancer. Electronic databases and recent review papers. Several theories have been used in intervention development: Transtheoretical Model, Motivational Interviewing, Social Learning and Social Cognitive Theory, Theory of Planned Behavior, and Cognitive Behavioral Theory. There is support for the efficacy of some of these interventions. However, there has been limited assessment of theory-based constructs and examination of the mediational role of theoretical constructs in intervention efficacy. There is a need to apply theory in the development of interventions to assess the effects of the intervention on the constructs and to conduct mediational tests of these constructs.

  1. Economic values for dairy production traits under different milk ...

    African Journals Online (AJOL)

    Cuthbert

    A well-defined breeding objective forms the basis of a sound breeding programme. .... (ZAR per unit) by breed under different milk payment systems. Milk Buyer. Breed. Trait. A. B. C .... Veerkamp, R.F., Dillon, P., Kelly, A.R. & Groen, A.F., 2002.

  2. Forming the Modern Labour Market Economics: On the Role of Institutionalist Theories

    Directory of Open Access Journals (Sweden)

    Dagmar Brožová

    2016-12-01

    Full Text Available The growing role of institutions and their influence on the labour market outcomes, i.e., wage rates and labour allocation, has been among the most significant characteristic features of labour markets in recent decades. The labour market economics built its paradigm on the principles of marginalism, which brought suitable instruments for the analysis of market agents’ individual decisions capable of achieving effective solutions. Smith’s “invisible hand” has gradually been limited by institutional interventions – by governments, corporations and trade unions with government legislation, corporate personnel policies and collective bargaining. The expanding regulatory interventions in the labour market and the effort to explain the reality leads inevitably to the fact that the modern labour market economics incorporates more and more institutional theories. The contribution outlines the gradual invasion of neoinstitutional topics and theories into the neoclassical labour market paradigm and it analyses the differences between the neoclassical and institutional interpretation of labour market functioning. It presents the recent discussion on the consequences for the labour market economic theory and formulates a conclusion about the modified labour market economic paradigm.

  3. Economic Importance of Camel: A Unique Alternative under Crisis

    Directory of Open Access Journals (Sweden)

    S. Ahmad*, M. Yaqoob, N. Hashmi1, S. Ahmad2, M. A. Zaman3 and M. Tariq

    2010-10-01

    Full Text Available Increasing human population in the world has arisen the issue of food security. In order to combat with this issue, there is need to explore a new world of resources. Camel can serve the best useful addition to the food supply chain in terms of milk, meat and other products. Dromedary camel is found in Pakistan and its population is highest in Baluchistan (41%. In Pakistan, there are 21 breeds of camel. The main two types are riverine and mountainous. Camels are of vital socio-economic importance in the country as people use it for drawing water from wells, ploughing and leveling land, working mini-mills for oil extraction, grinding wheat, corn and other grains and for crushing sugarcane, and pulling carts for the transportation of goods as well as people. Well-fed camel can yield 10-15L milk per day. Camel milk can also be used for making yogurt, kurth, butter, ghee, rabbri and khoa. Meat, hides and hair are useful by-products of camel. Camel farming will be beneficial for farmers when proper marketing infrastructure is established. Also, standard procedures for the classification and identification of camel breeds for different purposes need more attention. Camel ranching schemes and collaborative research approach are need of the hour. These measures can lead us to utilize this novel animal as a natural resource for coping food demand of ever increasing population.

  4. Theory of social organisations as the methodological basis of economic management of an enterprise

    Directory of Open Access Journals (Sweden)

    Ligonenko Larysa O.

    2013-03-01

    Full Text Available The article provides the author’s interpretation of the “economic management of an enterprise” notion, which is offered to be considered as an integrating and co-ordinating type of management, the main goal of which is ensuring long-term viability of an enterprise. The article considers genesis of organisational theories with respect to necessity, principles, rules, recommendations and procedures of managerial activity. It justifies expediency of formation of the methodological base of economic management of an enterprise on the basis of use of the problem theory of social organisations of V. I. Franchuk. The article describes the author’s concept of the essential characteristics and the process of organisation of economic management of an enterprise. It justifies a necessity of replenishment of classical management functions with three new functions: problem management, development and economic security (risk tolerance. It characterises principles and organisation of functioning of the “social mechanism”, which should be envisaged in the system of economic management of an enterprise.

  5. A Treatise for A New Age in Economic Theory: A Review of George Reisman's Capitalism

    Directory of Open Access Journals (Sweden)

    Wladimir Kraus

    2009-02-01

    Full Text Available George Reisman’s magnum opus Capitalism: A Treatise on Economics is a monumental attempt at theoretical integration of leading economic phenomena into one unified whole. Few such books have been published in the history of economics. Still fewer of them contain a comparable proportion of path-breaking innovations both in approach and substance that are integrated in a tightly-spun system of thought that Capitalism does. Yet despite its numerous path-breaking contributions to economic theory, the book has attracted virtually zero attention from the scientific community. History shows that for the most part this has been the fate of all great innovations in science. This review attempts (a to point out reasons why the book’s content is revolutionary, and (b to finally start a serious discussion of its substantive ideas. Specifically, the review focuses in some detail on some of Reisman’s most important innovations which all point the way to a wholly new direction in economic theory that promises to provide the hitherto unseen conformity with empirical reality, analytical rigor, and doctrinal integration.

  6. Racionalnost managerskih odkupov z vidika vedenjske ekonomije = Rationality of Management Buyout from the Behavioural Economics Theory

    Directory of Open Access Journals (Sweden)

    Gregor Žvipelj

    2011-06-01

    Full Text Available The theory of behavioral economics examines the behavior of individualsin markets in order to examine, explain and predict individualbehavior. The psychology of behavior has evolved in order to explainthe impact of emotions and most common cognitive errors in thedecision-making process of individuals. Psychological and sociologicalaspects, which can be explained by a qualitative case study, are used tounderstand their behavior. In this paper we shall analyse the rationalityof management behavior from the Behavioral Economy perspectivethrough a plural case study. The conclusions drawn from our researchshow that non-economic factors, such as overconfidence, arrogance,greed and optimism significantly contribute to the management buyoutdecision.

  7. Economic Feed Utilization for Dairy Buffalo Under Intensive Agricultural System

    Directory of Open Access Journals (Sweden)

    I. Soliman

    2010-02-01

    Full Text Available The national strategies for the irrigated intensive agricultural system in developing countries should focus upon Producing less expensive milk from dairy buffaloes that, efficiently, utilize the limited expensive produced feed resources. Therefore, planning for the least cost feeds combination is the most recommended approach to keep buffalo milk price at a competitive level and being low enough to make milk available for the major proportion of the low-income households, particularly “Vulnerable Groups”. Estimation of the least cost feed ration combination of the limited expensive feed resources were conducted from a recent farm survey of the dairy buffalo performances and the feed use pattern in Egypt. The estimated average production elasticity of fodder, concentrate feeds mix and straw, implies that their shares in generated buffalo milk income are 41.7%, 35%, and 23.3%, respectively.. The response of the human labor was of negative direction and statistically insignificant. This means that the labor used per dairy buffalo was beyond the economic level, that reflects the excess farm-family labor involved in such activity, because they have almost nil opportunity income of off farm work. The other capital inputs have small positive effect on milk production, The average marginal return from milk per onedollar expenditure reached $.1.08 for fodder, and $ 1.04 for concentrated feed mix, i.e. it is feasible to expand the usage of fodder more than concentrates. The wheat straw has shown uneconomic efficiency. Therefore, it is recommended to limit its level in the ration. The least cost ration reduces feed cost of one ton of buffalo milk equivalent (4% fat by 22%. The less costs of production will strength the competition of domestic supply either against in the international export market or against the dumping policies followed by exporters to the domestic market.

  8. The Contribution of the Neo-Schumpeterian Approach to the Development of the Economic Theory: Emphasis on the Meso-Economic Level

    Directory of Open Access Journals (Sweden)

    Radu HERMAN

    2011-07-01

    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

  9. On the macro-economic impacts of climate change under informational failures

    OpenAIRE

    CAO, Ruixuan; Gohin, Alexandre

    2012-01-01

    Although the sources, extent and physical impacts of the future climate change are highly uncertain, available dynamic economic assessments implicitly assume that economic agents perfectly know them. Perfect foresight, rational expectations or active learning are standard assumptions underlying simulated results. To the contrary, this paper builds on the assumption that economic agents may suffer for a while from limited knowledge about the average and variability of physical impa...

  10. An Axiomatization of Cumulative Prospect Theory for Decision under Risk

    NARCIS (Netherlands)

    Wakker, P.P.; Chateauneuf, A.

    1999-01-01

    Cumulative prospect theory was introduced by Tversky and Kahneman so as to combine the empirical realism of their original prospect theory with the theoretical advantages of Quiggin's rank-dependent utility. Preference axiomatizations were provided in several papers. All those axiomatizations,

  11. Extended producer responsibility for consumer waste: the gap between economic theory and implementation.

    Science.gov (United States)

    Dubois, Maarten

    2012-09-01

    Although economic theory supports the use of extended producer responsibility (EPR) to stimulate prevention and recycling of waste, EPR systems implemented in Europe are often criticized as a result of weak incentives for prevention and green product design. Using a stylized economic model, this article evaluates the efficiency of European EPR systems. The model reveals that the introduction of static collection targets creates a gap between theory and implementation. Static targets lead to inefficient market outcomes and weak incentives for prevention and green product design. The minimum collection targets should be complemented with a tax on producers for the non-collected waste fraction. Because such a tax internalizes the cost of waste disposal, more efficient price signals will lead to better incentives for waste management in a complex and dynamic market.

  12. The agency problem and medical acting: an example of applying economic theory to medical ethics.

    Science.gov (United States)

    Langer, Andreas; Schröder-Bäck, Peter; Brink, Alexander; Eurich, Johannes

    2009-03-01

    In this article, the authors attempt to build a bridge between economic theory and medical ethics to offer a new perspective to tackle ethical challenges in the physician-patient encounter. They apply elements of new institutional economics to the ethically relevant dimensions of the physician-patient relationship in a descriptive heuristic sense. The principal-agent theory can be used to analytically grasp existing action problems in the physician-patient relationship and as a basis for shaping recommendations at the institutional level. Furthermore, the patients' increased self-determination and modern opportunities for the medical laity to inform themselves lead to a less asymmetrical distribution of information between physician and patient and therefore require new interaction models. Based on the analysis presented here, the authors recommend that, apart from the physician's necessary individual ethics, greater consideration should be given to approaches of institutional ethics and hence to incentive systems within medical ethics.

  13. COMPETITIVE DYNAMICS AND EARLY MOVER ADVANTAGES UNDER ECONOMIC RECESSIONS

    Directory of Open Access Journals (Sweden)

    Roberto Vassolo

    2017-02-01

    Full Text Available In light of the recent macroeconomic instability in global markets, we examine the evolution of competitive dynamics and firm profitability when industries are subject to recessions. Although ordinary intuition leads most to view recessions as harmful, we highlight conditions under which they enhance the relative value of industry-level supply-side isolating mechanisms, thereby affording early movers significant and sustainable profit advantages vis-à-vis laggards. We observe that the distribution of firm size within the industry switches from a bi-modal distribution (i.e., one dominated by both small and large firms to a right-skewed one (i.e., dominated mostly by large firms in these contexts, thereby signaling the rise of important opportunities in the form of less rivalrous competitive contexts for survivors of recessions. We derive our results from formal modeling and multiple simulation runs.

  14. 76 FR 71933 - Office of the Under Secretary, Research, Education, and Economics; Notice of the Advisory...

    Science.gov (United States)

    2011-11-21

    ... DEPARTMENT OF AGRICULTURE Office of the Under Secretary, Research, Education, and Economics; Notice of the Advisory Committee on Biotechnology and 21st Century Agriculture Meeting AGENCY... Secretary, Research, Education and Economics. [FR Doc. 2011-30027 Filed 11-18-11; 8:45 am] BILLING CODE 3410...

  15. ON PRICE-MAKING CONTRACTS AND ECONOMIC THEORY: RETHINKING BERTRAND AND EDGEWORTH

    OpenAIRE

    Robert R. Routledge

    2012-01-01

    A problematic issue in economic theory is the study of price determination. Two distinct approaches to this difficult topic have been taken: (i) in Bertrand competition it is assumed sellers enter the market with a commitment to supply all demand forthcoming from buyers (ii) in Edgeworth competition sellers quote prices with no commitment to supply more than their competitive supply. Both these types of market contract struggle to provide credible pricemaking foundations for perfect competiti...

  16. What is justice in education? Sketch of answer based on theories of justice and economics.

    OpenAIRE

    D. Waltenberg , Fábio

    2004-01-01

    D. Waltenberg, F. (2004). What is justice in education? Sketch of answer based on theories of justice and economics. Les Cahiers de Recherche du Girsef, 32.; What is justice in education? How can we evaluate whether given distributions of educational inputs or educational outcomes are just or not? How should a society distribute its educational resources? How can we evaluate the level of (un)fairness of a schooling system? In this paper, we try to provide a basic framework for thinking about ...

  17. Theory of imprevision from the economic and legal perspective of contract analysis

    Directory of Open Access Journals (Sweden)

    Radu Ştefan PĂTRU

    2011-06-01

    Full Text Available The new realities of the 21st century ask for a revitalization of the economic and legal systems so as to overcome the effects of the economic crisis. The current economic crisis is at the same time a challenge for the scientific milieu which is called to find the best solutions for the reversal and adaptation of the main scientific institutions. For the legal system, the contract represents an essential factor both theoretically and practically so that the new legislative decisions appear to be as highly important. As a particular case study, we intend to analyse the theory of imprevision both from the theoretical viewpoint and the one of practical consequences that the regulation of this institution might generate in the domestic legislative environment through the provisions of the New Civil Code. Far from our affiliation to the opinions that vividly sustain or reject the regulation of this theory, this article intends to be an objective analysis of the theory of imprevision representing one of the greatest challenges for the New Civil Code.

  18. Economic performance optimization of an absorption cooling system under uncertainty

    International Nuclear Information System (INIS)

    Gebreslassie, Berhane H.; Guillen-Gosalbez, Gonzalo; Jimenez, Laureano; Boer, Dieter

    2009-01-01

    Many of the strategies devised so far to address the optimization of energy systems are deterministic approaches that rely on estimated data. However, in real world applications there are many sources of uncertainty that introduce variability into the decision-making problem. Within this general context, we propose a novel approach to address the design of absorption cooling systems under uncertainty in the energy cost. As opposed to other approaches that optimize the expected performance of the system as a single objective, in our method the design task is formulated as a stochastic bi-criteria non-linear optimization problem that simultaneously accounts for the minimization of the expected total cost and the financial risk associated with the investment. The latter criterion is measured by the downside risk, which avoids the need to define binary variables thus improving the computational performance of the model. The capabilities of the proposed modeling framework and solution strategy are illustrated in a case study problem that addresses the design of a typical absorption cooling system. Numerical results demonstrate that the method presented allows to manage the risk level effectively by varying the area of the heat exchangers of the absorption cycle. Specifically, our strategy allows identifying the optimal values of the operating and design variables of the cycle that make it less sensitive to fluctuations in the energy price, thus improving its robustness in the face of uncertainty.

  19. A Survey of Sludge Granulation Theories Under Anaerobic Conditions

    Directory of Open Access Journals (Sweden)

    Jalal Shayegan

    2011-01-01

    Full Text Available This paper surveys the different theories developed on anaerobic sludge granulation. The theories are generally categorized as physical, microbial, and thermodynamic approaches. In the physical approach to the granulation process, granulation is described by such physical conditions of the reactor as upflow velocity of gas and liquid streams, suspended solids in the effluent flow, and excess sludge removal. Microbial theories are based on the properties of specific organisms and on granule properties (granule structure and its microbiology. The thermodynamic approach studies such factors as hydrophobia, electrophoretic mobility, effective energy in granule adhesion process, and effect of proton transferring activities on bacterial membrane surfaces.

  20. The monster sporadic group and a theory underlying superstring models

    International Nuclear Information System (INIS)

    Chapline, G.

    1996-09-01

    The pattern of duality symmetries acting on the states of compactified superstring models reinforces an earlier suggestion that the Monster sporadic group is a hidden symmetry for superstring models. This in turn points to a supersymmetric theory of self-dual and anti-self-dual K3 manifolds joined by Dirac strings and evolving in a 13 dimensional spacetime as the fundamental theory. In addition to the usual graviton and dilaton this theory contains matter-like degrees of freedom resembling the massless states of the heterotic string, thus providing a completely geometric interpretation for ordinary matter. 25 refs

  1. Adaptability of the Logistics System in National Economic Mobilization Based on Blocking Flow Theory

    Directory of Open Access Journals (Sweden)

    Xiangyuan Jing

    2014-01-01

    Full Text Available In the process of national economic mobilization, the logistics system usually suffers from negative impact and/or threats of such emergency events as wars and accidents, which implies that adaptability of the logistics system directly determines realization of economic mobilization. And where the real-time rescue operation is concerned, heavy traffic congestion is likely to cause a great loss of or damage to human beings and their properties. To deal with this situation, this article constructs a blocking-resistance optimum model and an optimum restructuring model based on blocking flow theories, of which both are illustrated by numerical cases and compared in characteristics and application. The design of these two models is expected to eliminate or alleviate the congestion situation occurring in the logistics system, thus effectively enhancing its adaptability in the national economic mobilization process.

  2. The Context and Values Inherent in Human Capital as Core Principles for New Economic Theory

    Directory of Open Access Journals (Sweden)

    Winston P. Nagan

    2018-05-01

    Full Text Available This paper has a specific focus on the core foundation of New Economic Theory. That is, the focus on human capital and its implications for the theory and method of the new form of political economy. The central issue that is underlined is the importance of scientific and technological innovation and its necessary interdependence on global values and value analysis. The paper discusses the issue of scientific consciousness as a generator of technological value, and places scientific process at the heart of human consciousness. It discusses the complex interdependence of human relational subjectivity, scientific consciousness, and modern science. The paper draws attention to the problems of observation and participation, and the influence of modern quantum physics in drawing attention to aspects of human consciousness that go beyond the points of conventional science, and open up concern for the principle of non-locality. It explores human subjectivity in terms of the way in which “emotionalized behaviors” have effects on scientific objectivity. It also briefly touches on consciousness and its observable scientific role in the possible reconstruction of some aspects of reality. Mention is made of the Copenhagen perspective, the Many Worlds perspective, and the Penrose interpretation. These insights challenge us to explore human consciousness and innovation in economic organization. The discussion also brings in the principle of relational inter-subjectivity, emotion, and consciousness as a potential driver of human capital and value. In short, positive emotions can influence economic decision-making, as can negative emotions. These challenges stress the problem of human relational subjectivity, values, and technology as the tools to better understand the conflicts and potentials of human capital for New Economic Theory. The issue of value-analysis has both a descriptive and normative dimension. Both of these aspects raise important challenges

  3. The contribution of several Nobel Laureates in the development of the Theory of general economic equilibrium

    Directory of Open Access Journals (Sweden)

    Florentina Xhelili Krasniqi

    2016-12-01

    Full Text Available Nobel Laureates with their contributions to the development of the theory of general equilibrium have enabled this theory to be one of the most important for theoretical and practical analysis of the overall economy and the efficient use of economic resources. Results of the research showing that contributions of Nobel Laureates in the economy belong to two main frameworks of development of the general equilibrium theory: one was the mathematical model of general equilibrium developed by John R. Hicks (1939, Kenneth J.Arrow (1951 and Gerard Debreu (1954 and second frames of general equilibrium belongs to Paul A. Samuelson (1958. To highlight the contributions of these Nobel laureates in the development of the theory of general equilibrium have been selected and are presented in the paper some views, estimates and assumptions that have contributed not only in solving concrete problems, but also to the development of economic science in general. Their works represent a synthesis of theoretical and practical aspects of treatment of general equilibrium which are the starting point for further research in this field.

  4. FAMILY’S ECONOMIC LEVEL AND CULTURE CORRELATE WITH NUTRITIONAL STATUS OF CHILDREN UNDER FIVE YEARS

    Directory of Open Access Journals (Sweden)

    Abdul Muhith

    2017-01-01

    Full Text Available Introduction: Nutrition is an important thing for human life. Variety in family’s economic level and culture have effect on family’s eating habit. Family with higher economic status have big opportunity to met under fi ve year’s nutrition. Cultural diversity on each family has an impact on the difference of raw food selection, processing methods, and presentation of food. The purpose of this study was to determine the correlation between family’s economic level and culture with nutritional status of children under fi ve year. Method: Research design was observational analytic with cross sectional approach. The population were mother and their children under fi ve years at Desa Jatigono Kunir, Kabupaten Lumajang. Sampel were 184 respondents, taken by using cluster sampling. Independent variables were family’s economic level and culture. Dependent variable was nutritional status of children under fi ve years. Data were collected by using questionnaire and observational sheet. Then, data were analyzed by using Spearman Rho Test with α<0.05. Result: The results showed that 140 (76.1% respondents have low economic level, 105 (57.1% respondents have negative culture in children’s nutrition, and 89 (48% respondents have good nutritional status. The result of Spearman-rho test showed that family’s economic level (p=0.000 and culture (0.019 have correlated with nutritional status of children under five years. Discussion: It can be concluded that family’s economic level and culture have correlated with nutritional status of children under fi ve years. Nurses should develop health education and counseling to improve family’s knowledge about nutrition, so children will have good nutritional status. Keywords: economic level, family’s culture, nutritional status, children under five years

  5. Overview of the Main Theories on the Economic Effects of Public Indebtedness

    Directory of Open Access Journals (Sweden)

    Irina Bilan

    2016-05-01

    Full Text Available The paper briefly reviews the main theories formulated over time on the economic effects of public indebtedness, with the aim to highlight their common and divergent points, the arguments they rely upon, as well as their relevance, given the current economic environment. Three major views are considered, namely the classical one, the Keynesian one and the view of neoliberal economists (monetarist economists and representatives of the school of rational expectations. The comparative approach of the different views allowed us to shape some criteria of decision which may prove useful for public policymakers in formulating public debt policies conducive to economic growth: public indebtedness should not become common practice but be reserved for those situations in which the economy is confronted with unusual phenomena, such as economic downturns; borrowed resources should be used especially on those destinations which create added value in the economy, such as public investment; public debt should not accumulate at a fast pace and should be kept within reasonable limits, to avoid possible side effects on economic growth.

  6. Ukrainian defense industry under economic sanctions is within the Russia's interests

    Directory of Open Access Journals (Sweden)

    Victor Andreyevich Mal’gin

    2015-03-01

    Full Text Available Objective to analyze a correlation between the Russian and the Ukrainian militaryindustrial complexes MIC as well as to determine possibilities for product substitution under economic sanctions. nbsp Methods analysis and synthesis statistical abstract logic methods. Results аn interdependence of Ukrainian and Russian militaryindustrial complexes is revealed the role of economic sanctions as one of the important instruments and twoedged instruments of foreign policy is shown the means of acceleration of development of defenseindustrial complex of Russia are proposed. Scientific novelty the article proves that the Ukrainian defenseindustrial complex under economic sanctions represents serious threat to Russian militaryindustrial complex. The most effective ways of substituting the Ukrainian defense production by the Russian production are determined. Practical value the proposed measures for substituting the Ukrainian military production by the Russian production will under economic sanctions contribute to Russia39s further strengthening of militaryindustrial complex and the enhancement of operational capability of its armed forces. nbsp

  7. Utility function under decision theory: A construction arbitration application

    Science.gov (United States)

    Alozn, Ahmad E.; Galadari, Abdulla

    2017-08-01

    While a wide range of dispute resolution mechanisms exist, practitioners favor legally binding ones such as litigation and arbitration. Since initiating a litigation or arbitration case against a business partner may dissolve the business relationship between them, predicting the arbitrator's decision becomes valuable to the arbitrating parties. This paper proposes a construction-specific utility framework for the arbitrating party through decision theory, and based on expected utility theory. The proposed framework preserves the industry practicality and most importantly, considers direct short-term factors and indirect long-term factors as well. It is suggested that the arbitrating parties' utility functions could be then used to identify equilibrium points among them when interact via game theory principles, which would serve the purpose of predicting the arbitration outcome.

  8. [The theory of the demographic transition as a reference for demo-economic models].

    Science.gov (United States)

    Genne, M

    1981-01-01

    The aim of the theory of demographic transition (TTD) is to better understand the behavior and interrelationship of economic and demographic variables. There are 2 types of demo-economic models: 1) the malthusian models, which consider demographic variables as pure exogenous variables, and 2) the neoclassical models, which consider demographic variables as strictly endogenous. If TTD can explore the behavior of exogenous and endogenous demographic variables, it cannot demonstrate neither the relation nor the order of causality among the various demographic and economic variables, but it is simply the theoretical framework of a complex social and economic phenomenon which started in Europe in the 19th Century, and which today can be extended to developing countries. There are 4 stages in the TTD; the 1st stage is characterized by high levels of fecundity and mortality; the 2nd stage is characterized by high fecundity levels and declining mortality levels; the 3rd stage is characterized by declining fecundity levels and low mortality levels; the 4th stage is characterized by low fertility and mortality levels. The impact of economic variables over mortality and birth rates is evident for mortality rates, which decline earlier and at a greater speed than birth rates. According to reliable mathematical predictions, around the year 1987 mortality rates in developing countries will have reached the low level of European countries, and growth rate will be only 1.5%. If the validity of demo-economic models has not yet been established, TTD has clearly shown that social and economic development is the factor which influences demographic expansion.

  9. Purchasing alignment under multiple contingencies: a configuration theory approach.

    NARCIS (Netherlands)

    Mikalef, P.; Pateli, A.; Batenburg, R.S.; Wetering, R. van de

    2015-01-01

    Purpose: Strategic alignment is a theory-based state that is considered as crucial for organizations in order to realize performance gains from information technology (IT) investments and deployments. Within the domain of purchasing and supply chain management there has been a growing interest on

  10. On Reading Comprehension Teaching for English Majors under Relevance Theory

    Science.gov (United States)

    He, Ping

    2018-01-01

    Relevance Theory from the perspective of cognitive psychology argues that human communication is an ostensive-inferential process, and emphasizes the function of the optimal relevance for communication. In this sense, reading comprehension could be considered as a kind of communication in which the writer manifests his/her communication intention…

  11. The Behavior Intervention Support Team (BIST) Program: Underlying Theories

    Science.gov (United States)

    Boulden, Walter T.

    2010-01-01

    The Behavior Intervention Support Team (BIST) is a proactive school-wide behavior management plan for all students, emphasizing schools partnering with students and parents through caring relationships and high expectations. The BIST program is well-grounded in behavioral theory and combines strength-based and resiliency principles within the…

  12. Decompositional equivalence: A fundamental symmetry underlying quantum theory

    OpenAIRE

    Fields, Chris

    2014-01-01

    Decompositional equivalence is the principle that there is no preferred decomposition of the universe into subsystems. It is shown here, by using simple thought experiments, that quantum theory follows from decompositional equivalence together with Landauer's principle. This demonstration raises within physics a question previously left to psychology: how do human - or any - observers agree about what constitutes a "system of interest"?

  13. Loss Aversion under Prospect Theory: a Parameter-Free Measurement

    NARCIS (Netherlands)

    H. Bleichrodt (Han); M. Abdellaoui (Mohammed); C. Paraschiv (Corina)

    2007-01-01

    textabstractA growing body of qualitative evidence shows that loss aversion, a phenomenon formalized in prospect theory, can explain a variety of field and experimental data. Quantifications of loss aversion are, however, hindered by the absence of a general preference-based method to elicit the

  14. Linking Simple Economic Theory Models and the Cointegrated Vector AutoRegressive Model

    DEFF Research Database (Denmark)

    Møller, Niels Framroze

    This paper attempts to clarify the connection between simple economic theory models and the approach of the Cointegrated Vector-Auto-Regressive model (CVAR). By considering (stylized) examples of simple static equilibrium models, it is illustrated in detail, how the theoretical model and its stru....... Further fundamental extensions and advances to more sophisticated theory models, such as those related to dynamics and expectations (in the structural relations) are left for future papers......This paper attempts to clarify the connection between simple economic theory models and the approach of the Cointegrated Vector-Auto-Regressive model (CVAR). By considering (stylized) examples of simple static equilibrium models, it is illustrated in detail, how the theoretical model and its......, it is demonstrated how other controversial hypotheses such as Rational Expectations can be formulated directly as restrictions on the CVAR-parameters. A simple example of a "Neoclassical synthetic" AS-AD model is also formulated. Finally, the partial- general equilibrium distinction is related to the CVAR as well...

  15. 76 FR 31425 - HIPAA Privacy Rule Accounting of Disclosures Under the Health Information Technology for Economic...

    Science.gov (United States)

    2011-05-31

    ... 164 HIPAA Privacy Rule Accounting of Disclosures Under the Health Information Technology for Economic... Secretary 45 CFR Part 164 RIN 0991-AB62 HIPAA Privacy Rule Accounting of Disclosures Under the Health... accounting of disclosures of protected health information. The purpose of these modifications is, in part, to...

  16. Social goal-objective formation, democracy and national interest a theory of political economy under fuzzy rationality

    CERN Document Server

    Dompere, Kofi Kissi

    2014-01-01

    This book presents the development of a theory of social goal-objective formation and its relationship to national interest and social vision under a democratic decision-choice system with imperfect information structure. It provides a framework for the application of fuzzy logic and its mathematics to the analysis in resolving conflicts in individual preferences in the collective decision-choice space without violence. The book demonstrates how to use fuzzy logic and its mathematics in the study of economics, social sciences and other complex systems. It also presents the use of collaborative tools of opposites, duality, polarity, continuum in fuzzy paradigm with its logic, laws of thought and mathematics in developing a new approach to the theory of political economy in order to enhance the constructs of social decision-choice theory.

  17. Vertical Integration of Hospitals and Physicians: Economic Theory and Empirical Evidence on Spending and Quality.

    Science.gov (United States)

    Post, Brady; Buchmueller, Tom; Ryan, Andrew M

    2017-08-01

    Hospital-physician vertical integration is on the rise. While increased efficiencies may be possible, emerging research raises concerns about anticompetitive behavior, spending increases, and uncertain effects on quality. In this review, we bring together several of the key theories of vertical integration that exist in the neoclassical and institutional economics literatures and apply these theories to the hospital-physician relationship. We also conduct a literature review of the effects of vertical integration on prices, spending, and quality in the growing body of evidence ( n = 15) to evaluate which of these frameworks have the strongest empirical support. We find some support for vertical foreclosure as a framework for explaining the observed results. We suggest a conceptual model and identify directions for future research. Based on our analysis, we conclude that vertical integration poses a threat to the affordability of health services and merits special attention from policymakers and antitrust authorities.

  18. The Remarkable Place of the UV-Curve in Economic Theory

    OpenAIRE

    Rodenburg, Peter

    2007-01-01

    The purpose of this paper is to provide an analysis of the impact the UV-curve had on economic theory and to provide an account of the subsequent radical changes in its place and role over the decades since its first appearance in 1958. The paper traces the historical development of the UV-curve and argues that the role of the UV-curve has changed from a measuring device to a graphical representation of full employment to an axiom necessary for matching models of unemployment. This changing r...

  19. The Development of a Distributive Interactive Computing Model in Consumer Economics, Utilizing Jerome S. Bruner's Theory of Instruction.

    Science.gov (United States)

    Morrison, James L.

    A computerized delivery system in consumer economics developed at the University of Delaware uses the PLATO system to provide a basis for analyzing consumer behavior in the marketplace. The 16 sequential lessons, part of the Consumer in the Marketplace Series (CMS), demonstrate consumer economic theory in layman's terms and are structured to focus…

  20. An economic theory-based explanatory model of agricultural land-use patterns: The Netherlands as a case study

    NARCIS (Netherlands)

    Diogo, V.; Koomen, E.; Kuhlman, T.

    2015-01-01

    An economic theory-based land-use modelling framework is presented aiming to explain the causal link between economic decisions and resulting spatial patterns of agricultural land use. The framework assumes that farmers pursue utility maximisation in agricultural production systems, while

  1. Differences in economic development in rural regions of advanced countries: an overview and critical analysis of theories

    NARCIS (Netherlands)

    Terluin, I.J.

    2003-01-01

    This article provides an overview and critical analysis of theories on economic development in rural regions in advanced countries. For this purpose, we have consulted literature in regional economics and the multidisciplinary field of rural studies. In order to analyse to which extent these

  2. The role of material/energy resources and dematerialisation in economic growth theories

    Energy Technology Data Exchange (ETDEWEB)

    Ayres, R.U. [Center for the Management of Environmental Resources INSEAD, Fountainebleau (France); Van den Bergh, J.C.J.M. [Department of Spatial Economics, Free University, Amsterdam (Netherlands)

    2000-06-01

    The nature of energy and material resources in an endogenous growth theory framework is clarified. This involves three modifications of the conventional theory. Firstly, multiple feedback mechanisms or 'growth engines' are identified. Secondly, a production function distinguishes between resource use, technical efficiency and value creation. Thirdly, the impact of the cost of production through demand on growth is accounted for. A formal model is analytically solved under a condition of a constant growth rate. Given model complexity, numerical experiments are performed as well, providing relevant insights to the academic and political debates on 'environmental Kuznets curves' and 'dematerialization'. 49 refs.

  3. A parameter-free analysis of the utility of money for the general population under prospect theory

    NARCIS (Netherlands)

    Booij, A.S.; van de Kuilen, G.

    2009-01-01

    Extensive data has convincingly demonstrated that expected utility, the reigning economic theory of rational decision making, fails descriptively. This descriptive failure casts doubt on the validity of classical utility measurements. Prospect theory can better explain choice behaviour because it

  4. Revisiting the relevance of economic theory to hotel revenue management education and practice in the era of Big Data

    OpenAIRE

    Haynes, Natalie; Egan, David

    2017-01-01

    Abstract\\ud This paper explores the role of economics in hospitality education and industry practice, with a particular focus on revenue management, and puts forward an argument for a return to the inclusion of economic theory in UK hospitality education, not seen since the 1990s. Given the increasing amounts of pricing data available to both managers and customers and the consequent market complexities now seen, developing economic literacy is demonstrated to be a crucial skill required for ...

  5. "Too much medicine": Insights and explanations from economic theory and research.

    Science.gov (United States)

    Hensher, Martin; Tisdell, John; Zimitat, Craig

    2017-03-01

    Increasing attention has been paid in recent years to the problem of "too much medicine", whereby patients receive unnecessary investigations and treatments providing them with little or no benefit, but which expose them to risks of harm. Despite this phenomenon potentially constituting an inefficient use of health care resources, it has received limited direct attention from health economists. This paper considers "too much medicine" as a form of overconsumption, drawing on research from health economics, behavioural economics and ecological economics to identify possible explanations for and drivers of overconsumption. We define overconsumption of health care as a situation in which individuals consume in a way that undermines their own well-being. Extensive health economics research since the 1960s has provided clear evidence that physicians do not act as perfect agents for patients, and there are perverse incentives for them to provide unnecessary services under various circumstances. There is strong evidence of the existence of supplier-induced demand, and of the impact of various forms of financial incentives on clinical practice. The behavioural economics evidence provides rich insights on why clinical practice may depart from an "evidence-based" approach. Moreover, behavioural findings on health professionals' strategies for dealing with uncertainty, and for avoiding potential regret, provide powerful explanations of why overuse and overtreatment may frequently appear to be the "rational" choice in clinical decision-making, even when they cause harm. The ecological economics literature suggests that status or positional competition can, via the principal-agent relationship in health care, provide a further force driving overconsumption. This novel synthesis of economic perspectives suggests important scope for interdisciplinary collaboration; signals potentially important issues for health technology assessment and health technology management policies; and

  6. Extended prospect theory : Findings on choice behaviour from economics and the behavioural sciences and their relevance for travel behaviour

    NARCIS (Netherlands)

    Van de Kaa, E.J.

    2008-01-01

    In Transport Sciences different implementations of Utility Theory are commonly used for the description and prediction of human choice behaviour. Almost 30 years ago Kahneman and Tversky proposed an alternative behavioural-economic model of choice behaviour called Prospect Theory. In contrast to

  7. Functional methods underlying classical mechanics, relativity and quantum theory

    International Nuclear Information System (INIS)

    Kryukov, A

    2013-01-01

    The paper investigates the physical content of a recently proposed mathematical framework that unifies the standard formalisms of classical mechanics, relativity and quantum theory. In the framework states of a classical particle are identified with Dirac delta functions. The classical space is ''made'' of these functions and becomes a submanifold in a Hilbert space of states of the particle. The resulting embedding of the classical space into the space of states is highly non-trivial and accounts for numerous deep relations between classical and quantum physics and relativity. One of the most striking results is the proof that the normal probability distribution of position of a macroscopic particle (equivalently, position of the corresponding delta state within the classical space submanifold) yields the Born rule for transitions between arbitrary quantum states.

  8. Optimal execution with price impact under Cumulative Prospect Theory

    Science.gov (United States)

    Zhao, Jingdong; Zhu, Hongliang; Li, Xindan

    2018-01-01

    Optimal execution of a stock (or portfolio) has been widely studied in academia and in practice over the past decade, and minimizing transaction costs is a critical point. However, few researchers consider the psychological factors for the traders. What are traders truly concerned with - buying low in the paper accounts or buying lower compared to others? We consider the optimal trading strategies in terms of the price impact and Cumulative Prospect Theory and identify some specific properties. Our analyses indicate that a large proportion of the execution volume is distributed at both ends of the transaction time. But the trader's optimal strategies may not be implemented at the same transaction size and speed in different market environments.

  9. Evolutionary quantum game theory in the context of socio-economic systems; Evolutionaere Quanten-Spieltheorie im Kontext sozio-oekonomischer Systeme

    Energy Technology Data Exchange (ETDEWEB)

    Hanauske, Matthias

    2011-02-14

    The evolution of socio-economic systems depend on the interdependent decision processes of its underlying system components. The mathematical model to describe the strategic decision of players within a socio-economic game is ''game theory''. ''Quantum game theory'' is a mathematical and conceptual amplification of classical game theory. The space of all conceivable decision paths is extended from the purely rational, measurable space in the Hilbert-space of complex numbers - which is the mathematical space where quantum theory is formulated. By the concept of a potential entanglement of the imaginary quantum strategy parts, it is possible to include cooperate decision path, caused by cultural or moral standards. If this strategy entanglement is large enough, then additional Nash equilibria can occur, previously present dominant strategies could become nonexistent and new evolutionary stable strategies do appear for some game classes. Within this PhD thesis the main results of classical and quantum games are summarized and all of the possible game classes of evolutionary (2 player)-(2 strategy) games are extended to quantum games. It is shown that the quantum extension of classical games with an underlying dilemma-like structure give different results, if the strength of strategic entanglement is above a certain barrier. After the German summary and the introduction paper, five different applications of the theory are discussed within the thesis. (orig.)

  10. Theory Of Dewetting In A Filled Elastomer Under Stress

    Science.gov (United States)

    Peng, Steven T. J.

    1993-01-01

    Report presents theoretical study of dewetting between elastomeric binder and filler particles of highly filled elastomer under multiaxial tension and resulting dilatation of elastomer. Study directed toward understanding and predicting nonlinear stress-vs.-strain behavior of filled elastomeric rocket propellant, also applicable to rubber in highly loaded tire or in damping pad.

  11. Keynesianism vs. Classical Economic Theory: European Refugee Crisis and the Fall of Multiculturalism

    Directory of Open Access Journals (Sweden)

    Aliaksei Igor Patonia

    2017-09-01

    Full Text Available Posing arguments against statistical evidence picturing the European Union as the key world economy, the research views the economic model of the EU through the prism of Hofstede’s cultural dimensions, explaining its lower resistance towards the global economic crisis and comparing it to China – a country with authoritarian governmental methods – that suffered to a significantly lesser extent. Based on the example of these two entities, the paper views the topic of the current refugee crisis in Europe representing it as a new crucial trial for the EU that potentially checks classical economic theory for consistency. According to the author, if found effective, in the foreseeable future it will form a sound basis for further development, if not – it will likely be replaced by the Keynesian paradigm. Thus, with the current refugee crisis in Europe, the author juxtaposes liberal economy with the state-regulated one. This is done to give hints at the importance of the crisis per se, as it is believed to be capable of shattering some of the fundamental principles of the current world order.

  12. The implementation of interest-based entrepreneurship curriculum in the Theory of Economics course

    Science.gov (United States)

    Surjanti, J.; Nugrohoseno, D.; Budiono; Musfidah, H.

    2018-01-01

    College and university are educational institutions and they should be able to design entrepreneurship program in order to strengthen creativity and innovation. Potential grown-up citizens potential is the main problem of national development solved through the role of universities by reconstructing the curriculum based on 2016 Indonesian National Curriculum Framework. The interest of building entrepreneurship becomes the work of all elements which one of them is a university. Reconstructing interest-based entrepreneurship curriculum is the first step to construct characterized economic. Economics lecturers have a responsibility to develop the curriculum. This study aimed to explore the interest in entrepreneurship used to develop the contextual learning using problem-based learning (PBL) method that refers to Universitas Negeri Surabaya’s motto “Growing with character” and integrated into 2016 Indonesian National Curriculum Framework. This study was qualitative explorative. The subjects of the study are 86 students in their first semester. The objective of the study was curriculum development interest-based entrepreneurship in the theory of economics course. The results of the study showed that the interest-based entrepreneurship curriculum was able to reach the targeted learning outcome as well as to create a product in the culinary and services project in Wonorejo mangrove forest according to students’ interests.

  13. Joan Robinson e la teoria economica. (Joan Robinson and economic theory

    Directory of Open Access Journals (Sweden)

    A. ASIMAKOPULOS

    2013-12-01

    Full Text Available L'interesse di Joan Robinson nel problema della distribuzione del reddito e il suo disprezzo per quello che considera le teorie che hanno cercato di giustificare le distribuzioni esistenti di reddito mai segnalati . Il suo lavoro è caratterizzato da una forte inclinazione per chiari  argomenti ben ragionati che non lasciavano spazio per  sciatte abitudini  di pensiero . La portata ampia e la quantità di scritti di Robinson rendono difficile presentare una valutazione critica dei suoi contributi nel contesto anche di un documento lungo . Quella attuale si concentra sui suoi scritti in cinque aree principali : (i l'economia della concorrenza imperfetta ; ( ii la teoria del rapporto di lavoro ; ( iii la teoria di accumulazione nel lungo periodo ; ( iv il concetto di capitale e la funzione di produzione ; e ( v il problema del tempo in economia che si riflette nei suoi scritti sulla storia tema contro equilibrio .Joan Robinson’s interest in the question of the distribution of income and her disdain for what she considered to be theories that tried to justify existing distributions of income never flagged. Her work is marked by a strong inclination for clear, well reasoned arguments that left no room for sloppy habits of thought. The wide scope and quantity of Robinson’s writings make it difficult to present a critical evaluation of her contributions within the context of even a lengthy paper. The present one concentrates on her writings in five main areas: (i the economics of imperfect competition; (ii the theory of employment; (iii the theory of accumulation in the long run; (iv the concept of capital and the production function; and (v the problem of time in economics as reflected in her writings on the theme history versus equilibrium. JEL: B31, E24

  14. Micro-economic analysis of the physical constrained markets: game theory application to competitive electricity markets

    Science.gov (United States)

    Bompard, E.; Ma, Y. C.; Ragazzi, E.

    2006-03-01

    Competition has been introduced in the electricity markets with the goal of reducing prices and improving efficiency. The basic idea which stays behind this choice is that, in competitive markets, a greater quantity of the good is exchanged at a lower price, leading to higher market efficiency. Electricity markets are pretty different from other commodities mainly due to the physical constraints related to the network structure that may impact the market performance. The network structure of the system on which the economic transactions need to be undertaken poses strict physical and operational constraints. Strategic interactions among producers that game the market with the objective of maximizing their producer surplus must be taken into account when modeling competitive electricity markets. The physical constraints, specific of the electricity markets, provide additional opportunity of gaming to the market players. Game theory provides a tool to model such a context. This paper discussed the application of game theory to physical constrained electricity markets with the goal of providing tools for assessing the market performance and pinpointing the critical network constraints that may impact the market efficiency. The basic models of game theory specifically designed to represent the electricity markets will be presented. IEEE30 bus test system of the constrained electricity market will be discussed to show the network impacts on the market performances in presence of strategic bidding behavior of the producers.

  15. Micro-economic analysis of the physical constrained markets: game theory application to competitive electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Bompard, E.; Ma, Y.C. [Politecnico di Torino, Dept. of Electrical Engineering, Torino (Italy); Ragazzi, E. [CERIS, Institute for Economic Research on Firms and Growth, CNR, National Research Council, Moncalieri, TO (Italy)

    2006-03-15

    Competition has been introduced in the electricity markets with the goal of reducing prices and improving efficiency. The basic idea which stays behind this choice is that, in competitive markets, a greater quantity of the good is exchanged at a lower price, leading to higher market efficiency. Electricity markets are pretty different from other commodities mainly due to the physical constraints related to the network structure that may impact the market performance. The network structure of the system on which the economic transactions needs to be undertaken poses strict physical and operational constraints. Strategic interactions among producers that game the market with the objective of maximizing their producer surplus must be taken into account when modeling competitive electricity markets. The physical constraints, specific of the electricity markets, provide additional opportunity of gaming to the market players. Game theory provides a tool to model such a context. This paper discussed the application of game theory to physical constrained electricity markets with the goal of providing tools for assessing the market performance and pinpointing the critical network constraints that may impact the market efficiency. The basic models of game theory specifically designed to represent the electricity markets will be presented. IEEE30 bus test system of the constrained electricity market will be discussed to show the network impacts on the market performances in presence of strategic bidding behavior of the producers. (authors)

  16. Thermoluminescence under an exponential heating function: I. Theory

    International Nuclear Information System (INIS)

    Kitis, G; Chen, R; Pagonis, V; Carinou, E; Kamenopoulou, V

    2006-01-01

    Constant temperature hot gas readers are widely employed in thermoluminescence dosimetry. In such readers the sample is heated according to an exponential heating function. The single glow-peak shape derived under this heating condition is not described by the TL kinetics equation corresponding to a linear heating rate. In the present work TL kinetics expressions, for first and general order kinetics, describing single glow-peak shapes under an exponential heating function are derived. All expressions were modified from their original form of I(n 0 , E, s, b, T) into I(I m , E, T m , b, T) in order to become more efficient for glow-curve deconvolution analysis. The efficiency of all algorithms was extensively tested using synthetic glow-peaks

  17. Theory and empiricism of shadow economy - an economic analysis example for Austria

    International Nuclear Information System (INIS)

    Kuntzer, H.-P.

    2000-09-01

    Illegally circulating streams of net output will exist as long as economic events are registered and taxed by state authorities. Since the beginning of the eighties this part of the economic process has been more and more involved in scientific and political discussions not least because of the stagnating officially registered domestic content (as a result of two oil crisis) which lead to a continually financial crisis of all social security systems in Europe. Even if the shadow economic domestic content of GDP in Austria can be seen as relatively low in comparison to international figures, the steady increase of this sector during the last few years gives rise to concerns. In order to approach the phenomenon of shadow economy and especially illegal activities in the Alpine republic this treatise gives an abstract on the state of affairs as far as theoretical researches on the shadow economy is concerned. In this connection the following influencing factors are seen as important. On the one hand the variety of costs that go with the factor work (direct and indirect taxes, social security contributions and regulating costs) and on the other hand the steadily rising offers of illegal activities as a result of decreasing working hours and increasing unemployment. Moreover this development is supported by the growing sullenness towards state authorities (hypotheses of changing values). The interplay of all these factors ends up in an increasing share value of shadow economic activities in the OECD. The effects of this circumstance are evaluated ambivalently by theory because there are negative effects (growing unemployment, low tax receipts) as well as positive effects (induced costs, better supply of consumer demands). Punitive measures to control these activities are also regarded as ineffective. In order to approach the shadow economy - especially in Austria - this treatise first deals with the different methods to measure shadow economic activities, which are all

  18. Decisionmaking under risk in invasive species management: risk management theory and applications

    Science.gov (United States)

    Shefali V. Mehta; Robert G. Haight; Frances R. Homans

    2010-01-01

    Invasive species management is closely entwined with the assessment and management of risk that arises from the inherently random nature of the invasion process. The theory and application of risk management for invasive species with an economic perspective is reviewed in this synthesis. Invasive species management can be delineated into three general categories:...

  19. On the costs of self-interested economic behavior : How does stinginess get under the skin?

    NARCIS (Netherlands)

    Dunn, Elizabeth W.; Ashton-James, Claire E.; Hanson, Margaret D.; Aknin, Lara B.

    The present study examined how financial decisions 'get under the skin'. Participants played an economic game in which they could donate some of their payment to another student. Affect was measured afterward and salivary cortisol was measured before and afterward. Participants who kept more money

  20. 75 FR 23214 - HIPAA Privacy Rule Accounting of Disclosures Under the Health Information Technology for Economic...

    Science.gov (United States)

    2010-05-03

    ...-AB62 HIPAA Privacy Rule Accounting of Disclosures Under the Health Information Technology for Economic... disclosures, the administrative burden on covered entities and business associates of accounting for such...: HITECH Accounting of Disclosures, Hubert H. Humphrey Building, Room 509F, 200 Independence Avenue, SW...

  1. Economic costs of extratropical storms under climate change: An application of FUND

    NARCIS (Netherlands)

    Narita, D.; Anthoff, D.; Tol, R.S.J.

    2010-01-01

    Extratropical cyclones have attracted some attention in climate policy circles as a possible significant damage factor of climate change. This study conducts an assessment of economic impacts of increased storm activities under climate change with the integrated assessment model FUND 3.5. In the

  2. Initially curved microplates under electrostatic actuation: theory and experiment

    KAUST Repository

    Saghir, Shahid

    2016-07-01

    Microplates are the building blocks of many micro-electro-mechanical systems. It is common for them to experience initial curvature imperfection due to residual stresses caused by the micro fabrication process. Such plates are essentially different from perfectly flat ones and cannot be modeled using flat plate models. In this paper, we adopt a dynamic analog of the von Karman governing equations of imperfect plates. These equations are then used to develop a reduced order model based on the Galerkin procedure, to simulate the static and dynamic behavior of the microplate under electrostatic actuation. To validate the simulation results, an initially curved imperfect microplate made of silicon nitride is fabricated and tested. The static behaviour of the microplate is investigated when applying a DC voltage Vdc. Then, the dynamic behaviour of the microplate is examined under the application of a harmonic AC voltage, Vac, superimposed to Vdc. The simulation results show good agreement with the experimentally measured responses. © 2016 IOP Publishing Ltd.

  3. GROWTH ECONOMICS AND DEVELOPMENT ECONOMICS: WHAT SHOULD DEVELOPMENT ECONOMISTS LEARN (IF ANYTHING) FROM THE NEW GROWTH THEORY?

    OpenAIRE

    Ruttan, Vernon W.

    1998-01-01

    Since their emergence as a distinct fields of inquiry in the early post World War II period there has been an uneasy relationship between growth economics and development economics. The emergence of a richer new growth economics' has opened up the possibilities of a more fruitful dialogue between the two subdisciplines. In spite of recent advances, particularly with respect to the human capital, and understanding of differences in growth rates and income levels across countries remains elusiv...

  4. The Rights of Private Economic Actors Under the World Trade Organization Agreements in Indonesia

    Directory of Open Access Journals (Sweden)

    Intan Soeparna

    2012-09-01

    Full Text Available Nothing in the Uruguay Round mentions directly about rights of private economic actors. It seems that the relationship to private economic actors (or may be individual does not exist within the WTO Agreements, because as a general rule, private parties are not legal subjects of the international legal order. However, this article will prevail upon this situation, by looking closer at the essence of the WTO Agreements to discern the rights of private economic actors that derive from the WTO. The main question of this article is to what extent then Indonesia is dealing with the rights of private economic actors under the WTO Agreements? The background of this questionis because four years after ratifying the WTO Agreements, Indonesia has been facing what is arguably the most serious multidimensional crisis in 1997, some difficult situations have arisen from the crisis; therefore, the society hesitated to accept the open world trading system. The society seemed look askance to the implementation of the WTO Agreements. But Indonesian Government took major step to reduce the skepticism of society toward liberalization, by readjusting its national laws conform to the WTO Agreements with the intention to support the rights of national economic actors under the WTO Agreements in order to achieve total benefits of the WTO rules.

  5. The Trends in International Migration of Human Resources under Conditions of Geo-Economic Transformations

    Directory of Open Access Journals (Sweden)

    Shymanska Kateryna V.

    2017-06-01

    Full Text Available The aim of the article is to reveal the influence of geo-economic transformations on the trends in international migration of human resources as an element of the resource potential of countries and regions. The current state of geo-economic transformations is analyzed, and their influence on the processes of international migration of human resources is revealed. The relevance of analyzing international movement of human resources, not labor ones, in building the geo-economic strategy of a country or a regional grouping is justified. The connection between the international migration of human resources and the trends in development of individual countries and regions (oil exporting countries, newly industrialized countries and least developed agrarian countries is determined, the general patterns of migration flows in these countries are described. Furthermore, the topical issues in studying international migration of human resources in the context of the directions of geo-economics identified by scientists are formulated. It is determined that the regional migration policy should contribute to maximizing the benefits of migration of human resources for the development of the region and the use of immigrants in the countries of the region as an economic resource that becomes strategically important under conditions of geo-economic transformations.

  6. Applying Bayesian decision theory to assess reprocessing economic and social cost-benefits

    International Nuclear Information System (INIS)

    Heising, C.D.

    1978-01-01

    Bayesian decision theory, combined with conventional systems analysis techniques into the discipline called decision analysis, has been applied in this work to assess economic and social cost-benefits associated with reprocessing nuclear fuel. Particular attention in this paper is given to the models which have been developed to place numerical estimates in dollar terms on the three categories of social risks that have been identified with reprocessing. These categories include: (1) health, environment, and safety, (2) diversion of fissile material, including sabotage, terrorist acts, and subnational diversion, and (3) nuclear proliferation, defined to be a diversion at the national level to obtain weapons capability. The emphasis is placed on the third category, as proliferation risk has not been treated elsewhere in a quantitative fashion; most arguments have in the main been qualitative conjectures put forth by political scientists

  7. Investigation on law and economics of listed companies' financing preference based on complex network theory.

    Directory of Open Access Journals (Sweden)

    Jian Yang

    Full Text Available In this paper, complex network theory is used to make time-series analysis of key indicators of governance structure and financing data. We analyze scientific listed companies' governance data from 2010 to 2014 and divide them into groups in accordance with the similarity they share. Then we select sample companies to analyze their financing data and explore the influence of governance structure on financing decision and the financing preference they display. This paper reviews relevant laws and regulations of financing from the perspective of law and economics, then proposes reasonable suggestions to consummate the law for the purpose of regulating listed companies' financing. The research provides a reference for making qualitative analysis on companies' financing.

  8. Addressing the Impediments to the Realization and Enjoyment of Socio-Economic Rights under the ICESCR

    Directory of Open Access Journals (Sweden)

    Abiodun Odusote

    2014-12-01

    Full Text Available The realization and enjoyment of socio-economic rights is crucial to overcoming the challenges of abject poverty. These rights offer those living in poverty access to the basic and essential things that are necessary to live a dignified life. However, it is generally agreed that the protection and enjoyment of socio-economic rights is accorded less importance amongst the comity of civilized nations. Majority of governments give priority to the protection of civil and political rights to the detriment of socio-economic rights. Despite the United Nations stance on the non-hierarchical structure within human rights classifications, there is general ambivalence towards the violation of socio-economic rights by those entrusted to protect them. Though many international and regional treaties protect socio-economic rights, which instruments have been domesticated by countries; the picture appears gloomy in terms of effective realisation and protection of socio-economic rights. Their enforcements still remain a challenge for this millennium. The impediments to the realization of these rights are the focus of this paper. Through a detailed analysis of international, regional and domestic legislative framework and jurisprudence, this study provides a systematic exposition of the obstacles that impact on the ability of states to fulfil their socio-economic rights obligations under the various and diverse instruments. The impediments that are discussed in this paper include: a proliferations of human rights; corruption and inept leadership in Africa; inadequate enforcement mechanism; poor and ineffective state reports; international sanctions; wars and conflicts; globalization; debt repayment by developing countries; difficulties of monitoring compliance by State Parties and conflict of laws. In conclusion, the paper proffers a panacea and alternative models for the realization and enjoyments of socio-economic rights.

  9. On the costs of self-interested economic behavior: how does stinginess get under the skin?

    Science.gov (United States)

    Dunn, Elizabeth W; Ashton-James, Claire E; Hanson, Margaret D; Aknin, Lara B

    2010-05-01

    The present study examined how financial decisions 'get under the skin'. Participants played an economic game in which they could donate some of their payment to another student. Affect was measured afterward and salivary cortisol was measured before and afterward. Participants who kept more money for themselves reported less positive affect, more negative affect, and more shame. Shame predicted higher levels of post-game cortisol, controlling for pre-game cortisol; stingy economic behavior therefore produced a significant indirect effect on cortisol via shame. Thus, shame and cortisol represent plausible emotional and biological pathways linking everyday decisions with downstream consequences for health.

  10. Night sky luminance under clear sky conditions: Theory vs. experiment

    International Nuclear Information System (INIS)

    Kocifaj, Miroslav

    2014-01-01

    Sky glow is caused by both natural phenomena and factors of anthropogenic origin, and of the latter ground-based light sources are the most important contributors for they emit the spatially linked spectral radiant intensity distribution of artificial light sources, which are further modulated by local atmospheric optics and perceived as the diffuse light of a night sky. In other words, sky glow is closely related to a city's shape and pattern of luminaire distribution, in practical effect an almost arbitrary deployment of random orientation of heterogeneous electrical light sources. Thus the luminance gradation function measured in a suburban zone or near the edges of a city is linked to the City Pattern or vice versa. It is shown that clear sky luminance/radiance data recorded in an urban area can be used to retrieve the bulk luminous/radiant intensity distribution if some a-priori information on atmospheric aerosols is available. For instance, the single scattering albedo of aerosol particles is required under low turbidity conditions, as demonstrated on a targeted experiment in the city of Frýdek-Mistek. One of the main advantages of the retrieval method presented in this paper is that the single scattering approximation is satisfactorily accurate in characterizing the light field near the ground because the dominant contribution to the sky glow has originated from beams propagated along short optical paths. - Highlights: • Urban sky glow is interpreted in terms of city emission function. • Luminance function in a suburban zone is linked to the City Pattern. • Single scattering approximation is applicable in modeling urban sky glow. • Information on aerosols represents valuable inputs to the retrieval procedure. • Sky glow patterns vary with light source distribution and spectral emission

  11. J.M. Keynes and His Economic Theory: an Ethical Perspective

    Directory of Open Access Journals (Sweden)

    Stanislav N. Ivaskovsky

    2016-01-01

    Full Text Available The article examines the philosophical and moral foundations of the biggest economist and political philosopher of the 20th century John Maynard Keynes (1883-1946, who played an important role in rethinking a number of important provisions of the classical political economy and in creating the ideological and methodological basis of the "Keynesian revolution" and of the new field of economic analysis-macroeconomics. The author traces the main stages in the formation of ethical views of Keynes, shows that his interest in ethics as the system of values in society was dictated by the need for the new conceptual vision of economic realities and by the search of an answer to the main ethical question: "What should we do?". Attention is drawn to the fact that an understanding of the ethical orientation of economic theory by Keynes allowed him to take a critical stance towards traditional individualism and Victorian morality of thrift and moneymaking and to conclude that rational and "right" forms of individual behaviour are not a guarantee of the prosperity of society as a whole. To achieve the latter Keynes justified the necessity of "central control" by the State of the overall level of aggregate expenditure. It isstressed that the ethical views of Keynes correspond with the concept of the "ethic of responsibility"- a relatively new scientific discipline, which originated as a response to the risks of technogenic era: pollution, resource constraints, overpopulation, lack of stability of the world economy. The final part of the article analyzes one of the most important, from the point of view of Keynes, vices of capitalism - reckless proclivity of people to the multiplication of "abstract monetary wealth". It is shown that it doesn't only disfigure the psyche and consciousness of people, but also changes the direction of development of the market economy towards "speculative capitalism", which creates a threat to civilization, creativity, well

  12. Information structures in economics studies in the theory of markets with imperfect information

    CERN Document Server

    Nermuth, Manfred

    1982-01-01

    This book is intended as a contribution to the theory of markets with imperfect information. The subject being nearly limitless, only certain selected topics are discussed. These are outlined in the Introduction (Ch. 0). The remainder of the book is divided into three parts. All results of economic significance are contained in Parts II & III. Part I introduces the main tools for the analysis, in particular the concept of an information structure. Although most of the material presented in Part I is not original, it is hoped that the detailed and self-contained exposition will help the reader to understand not only the following pages, but also the existing technical and variegated literature on markets with imperfect information. The mathematical prerequisites needed, but not explained in the text rarely go beyond elementary calculus and probability theory. Whenever more advanced concepts are used, I have made an effort to give an intuitive explanation as well, so that the argument can also be followed o...

  13. Modelling regional cropping patterns under scenarios of climate and socio-economic change in Hungary.

    Science.gov (United States)

    Li, Sen; Juhász-Horváth, Linda; Pintér, László; Rounsevell, Mark D A; Harrison, Paula A

    2018-05-01

    Impacts of socio-economic, political and climatic change on agricultural land systems are inherently uncertain. The role of regional and local-level actors is critical in developing effective policy responses that accommodate such uncertainty in a flexible and informed way across governance levels. This study identified potential regional challenges in arable land use systems, which may arise from climate and socio-economic change for two counties in western Hungary: Veszprém and Tolna. An empirically-grounded, agent-based model was developed from an extensive farmer household survey about local land use practices. The model was used to project future patterns of arable land use under four localised, stakeholder-driven scenarios of plausible future socio-economic and climate change. The results show strong differences in farmers' behaviour and current agricultural land use patterns between the two regions, highlighting the need to implement focused policy at the regional level. For instance, policy that encourages local food security may need to support improvements in the capacity of farmers to adapt to physical constraints in Veszprém and farmer access to social capital and environmental awareness in Tolna. It is further suggested that the two regions will experience different challenges to adaptation under possible future conditions (up to 2100). For example, Veszprém was projected to have increased fallow land under a scenario with high inequality, ineffective institutions and higher-end climate change, implying risks of land abandonment. By contrast, Tolna was projected to have a considerable decline in major cereals under a scenario assuming a de-globalising future with moderate climate change, inferring challenges to local food self-sufficiency. The study provides insight into how socio-economic and physical factors influence the selection of crop rotation plans by farmers in western Hungary and how farmer behaviour may affect future risks to agricultural

  14. Techno-economic viability assessments of greener propulsion technology under potential environmental regulatory policy scenarios

    International Nuclear Information System (INIS)

    Nalianda, D.K.; Kyprianidis, K.G.; Sethi, V.; Singh, R.

    2015-01-01

    Highlights: • An advanced method is presented for techno-economic assessment under potential environmental regulatory policy scenarios. • The viability of the contra-rotating open rotor concept is investigated under various environmental policies. • CO_2 taxation is needed to drive the aerospace industry towards greener solutions. - Abstract: Sustainability of the aviation industry, as any other industry, depends on the elasticity of demand for the product and profitability through minimising operating costs. Of paramount importance is assessing and understanding the interdependency and effects of environmentally optimised solutions and emission mitigation policies. This paper describes the development and application of assessment methodologies to better understand the effects of environmental taxation/energy policies aimed at environmental pollution reduction and the future potential economic impact they may have on the adaptation of “greener” novel technologies. These studies are undertaken using a Techno-economic Environmental Risk Assessment approach. The methodology demonstrated allows the assessment of the economic viability of new technologies compared to conventional technologies, for various CO_2 emission taxation and fuel price scenarios. It considers relative increases in acquisition price and maintenance costs. A study undertaken as a ‘proof of concept’ compares a Counter Rotating Open Rotor aircraft with a conventional aircraft for short range operations. It indicates that at current fuel price and with no carbon taxation, a highly fuel efficient technology, such as the one considered, could be rendered economically unviable. The work goes on to demonstrate that in comparison to the conventional aircraft, any economic benefits that may be accrued from improvement in fuel consumption through such a technology, may well be negated through increases in acquisition price and maintenance costs. The work further demonstrates that if policy

  15. Viability Theory

    CERN Document Server

    Aubin, Jean-Pierre; Saint-Pierre, Patrick

    2011-01-01

    Viability theory designs and develops mathematical and algorithmic methods for investigating the adaptation to viability constraints of evolutions governed by complex systems under uncertainty that are found in many domains involving living beings, from biological evolution to economics, from environmental sciences to financial markets, from control theory and robotics to cognitive sciences. It involves interdisciplinary investigations spanning fields that have traditionally developed in isolation. The purpose of this book is to present an initiation to applications of viability theory, explai

  16. Transformation of the Terminological Apparatus of Economic Development of Innovation Activity under Conditions of Dynamic Changes in the External Environment

    Directory of Open Access Journals (Sweden)

    Sharko Margarita V.

    2017-12-01

    Full Text Available The aim of the article is to analyze the content interpretation of categorical concepts of economic development of production functioning under conditions of dynamic changes in the exploitation of the external environment. The article presents the author’s interpretation of the concepts of economic development and economic growth under conditions of dynamic changes in the external environment. The urgency of unification and systematization of the main interpretations of economic growth as a means of choosing and using certain management solutions under specific production conditions is substantiated. Based on the construction of the Ishikawa diagram, the reasons and difficulties of the economic growth of enterprises are graded. The conditions and factors of the conceptual apparatus of innovation activity under uncertainty are structured. It is shown that the complex application of iterative methods and methods of factor analysis provides a holistic perception of the dominant tendencies of economic development under conditions of dynamic changes in the external environment.

  17. An Application of Convergence Theory to Japan's Post-WWII Economic "Miracle."

    Science.gov (United States)

    Valdes, Benigno

    2003-01-01

    Provides an explanation of the post-World War II economic phenomenon of Japan as a process of economic convergence within the framework of the neoclassical Solo-Swan model of economic growth. States that this interpretation helps students understand economic growth and development and Japan's modern economic history. (JEH)

  18. METHODOLOGICAL FEATURES OF HISTORICAL TYPES OF ECONOMIC THEORY'S SCIENTIFIC RATIONALITY IN TERMS OF MODERN PHILOSOPHY OF SCIENCE

    Directory of Open Access Journals (Sweden)

    T. Gaidai

    2015-10-01

    Full Text Available The article studies the evolution of basic methodological features of economic theory on its different historical stages.The research highlights the fruitful usage of a new analytical approach on the basis of the achievements of modern philosophy of science. Its presents the research of main types of scientific rationality dominating at certain historical stages of science maturity. Such as historical, classical, nonclassical and postnonclassical types of scientific rationality. Structuring and research of basic methodological features of such historical types of economic theory’s scientific rationality as classical economics (end of ХVII century – 70-th of XIX century, nonclassical economics (70-th of ХІХ century – 70-th of ХХ century, postnonclassical economics (70-th of ХХст. – the beginning of ХХI century are undertaken. Methodological analysis accentuated ideological, ontological, epistemological dominants and main differences in basic techniques of the main types of economic theory’s scientific rationality. The research argues the illegality of existing in the economics literature attempts to identification or simplified reduction of more mature types of scientific rationality to the less mature. The article shows the contribution made by the leaders of classical, nonclassical and postnonclassical economics in the development of normative and positive economic methodology. It is emphasized a general tendency to methodological pluralism, pluralism of paradigmal structureand interdisciplinary of scientific economic knowledge throughout its historical development.

  19. An Assessment of Theories Underlying the Operations of the Nigerian Stock Market

    Directory of Open Access Journals (Sweden)

    Chris O. Udoka

    2014-07-01

    Full Text Available This paper aimed at determining the theories and approaches that inform the operational efficiency of the Nigerian stock market, considering the economic, financial, political and environmental factors inducing shareholder behaviour in the market. Taking a desk review of the theories, against the wealth maximization expectations of investors, the paper notes that due to imperfections in the Nigerian stock market, certain policies are clearly unsuitable in informing shareholder behaviour and corporate managements’ relationship with them. Due to the several factors affecting dividend policy such as legal constraints, funding needs, control issue, debt obligation, investment opportunity, inflation, shareholders expectations etc, good planning must be put in place.

  20. On Rural Financial and Accounting Work under the Background of Rapid Agricultural Economic Development

    OpenAIRE

    Tang, Yaozheng

    2013-01-01

    Under the background of rapid agricultural economic development, rural financial and accounting work is of great significance. From rural accounting management system, rural accountant allocation and rural accounting training, this paper analyzes current situations of rural accounting work in China. In rural financial and accounting work, there are following problems. (1) Accounting behavior is not standard, and basic accounting work is to be further strengthened; (2) Internal control is not ...

  1. Economics.

    Science.gov (United States)

    Palley, Paul D; Parcero, Miriam E

    2016-10-01

    A review of literature in the calendar year 2015 dedicated to environmental policies and sustainable development, and economic policies. This review is divided into these sections: sustainable development, irrigation, ecosystems and water management, climate change and disaster risk management, economic growth, water supply policies, water consumption, water price regulation, and water price valuation.

  2. The Philosophy of Information as an Underlying and Unifying Theory of Information Science

    Science.gov (United States)

    Tomic, Taeda

    2010-01-01

    Introduction: Philosophical analyses of theoretical principles underlying these sub-domains reveal philosophy of information as underlying meta-theory of information science. Method: Conceptual research on the knowledge sub-domains in information science and philosophy and analysis of their mutual connection. Analysis: Similarities between…

  3. Economic Assessment of Flood Control Facilities under Climate Uncertainty: A Case of Nakdong River, South Korea

    Directory of Open Access Journals (Sweden)

    Kyeongseok Kim

    2018-01-01

    Full Text Available Climate change contributes to enhanced flood damage that has been increasing for the last several decades. Understanding climate uncertainties improves adaptation strategies used for investment in flood control facilities. This paper proposes an investment decision framework for one flood zone to cope with future severe climate impacts. This framework can help policy-makers investigate the cost of future damage and conduct an economic assessment using real options under future climate change scenarios. The proposed methodology provides local municipalities with an adaptation strategy for flood control facilities in a flood zone. Using the proposed framework, the flood prevention facilities in the Nakdong River Basin of South Korea was selected as a case study site to analyze the economic assessment of the investments for flood control facilities. Using representative concentration pathway (RCP climate scenarios, the cost of future flood damage to 23 local municipalities was calculated, and investment strategies for adaptation were analyzed. The project option value was determined by executing an option to invest in an expansion that would adapt to floods under climate change. The results of the case study showed that the proposed flood facilities are economically feasible under both scenarios used. The framework is anticipated to present guidance for establishing investment strategies for flood control facilities of a flood zone in multiple municipalities’ settings.

  4. Economic and environmental effects under resource scarcity and substitution between renewable and non-renewable resources

    International Nuclear Information System (INIS)

    Silva, Susana; Soares, Isabel; Afonso, Oscar

    2013-01-01

    We build a general equilibrium model with renewable (non-polluting) and non-renewable (polluting) resources to analyze the interaction and compatibility between economic growth and a cleaner environment. The study is in two phases: (i) resource extraction/production costs are constant; (ii) resource producers invest in knowledge to reduce extraction/production costs, endogenizing technical change. With constant costs, there is a permanent trade-off between economic growth and a cleaner environment. With endogenous technical change, it is possible to harmonize more output and less emissions by replacing non-renewable resources for renewable ones. We also conduct a sensitivity analysis to explore three specific policy actions. With constant costs, the best policy action is the imposition of a higher renewable resources standard, while with endogenous technical change, under certain conditions, all policy interventions may benefit both the economy and the environment. - Highlights: ► Our general equilibrium model includes renewable and non-renewable resources. ► Under constant resource production costs emissions grow at the same rate as output. ► Resource producers can invest in knowledge to reduce production costs. ► Under decreasing costs, lower emissions are compatible with stable output growth. ► Empirical results differ under constant costs and under endogenous technical change

  5. Economic analysis of replacement regeneration and coppice regeneration in eucalyptus stands under risk conditions

    Directory of Open Access Journals (Sweden)

    Isabel Carolina de Lima Guedes

    2011-09-01

    Full Text Available Projects are by their very nature subject to conditions of uncertainty that obstruct the decision-making process. Uncertainties involving forestry projects are even greater, as they are combined with time of return on capital invested, being medium to long term. For successful forest planning, it is necessary to quantify uncertainties by converting them into risks. The decision on whether to adopt replacement regeneration or coppice regeneration in a forest stand is influenced by several factors, which include land availability for new forest crops, changes in project end use, oscillations in demand and technological advancement. This study analyzed the economic feasibility of replacement regeneration and coppice regeneration of eucalyptus stands, under deterministic and under risk conditions. Information was gathered about costs and revenues for charcoal production in order to structure the cash flow used in the economic analysis, adopting the Net Present Value method (VPL. Risk assessment was based on simulations running the Monte Carlo method. Results led to the following conclusions: replacement regeneration is economically viable, even if the future stand has the same productivity as the original stand; coppice regeneration is an economically viable option even if productivity is a mere 70% of the original stand (high-tree planted stand, the best risk-return ratio option is restocking the stand (replacement regeneration by one that is 20% more productive; the probabilistic analysis running the Monte Carlo method revealed that invariably there is economic viability for the various replacement and coppice regeneration options being studied, minimizing uncertainties and consequently increasing confidence in decision-making.

  6. Theory and evidence for using the economy-of-scale law in power plant economics

    International Nuclear Information System (INIS)

    Phung, D.L.

    1987-05-01

    This report compiles theory and evidence for the use of the economy-of-scale law in energy economics, particularly in the estimation of capital costs for coal-fired and nuclear power plants. The economy-of-scale law is widely used in its simplest form: cost is directly proportional to capacity raised to an exponent. An additive constant is an important component that is not generally taken into account. Also, the economy of scale is perforce valid only over a limited size range. The majority of engineering studies have estimated an economy of scale exponent of 0.7 to 0.9 for coal-fired plants and an exponent of 0.4 to 0.6 for nuclear plants in the capacity ranges of 400 to 1000 MWe. However, the majority of econometric analyses found little or no economy of scale for coal-fired plants and only a slight economy of scale for nuclear plants. This disparity is explained by the fact that economists have included regulatory and time-related costs in addition to the direct and indirect costs used by the engineers. Regulatory and time-related costs have become an increasingly larger portion of total costs during the last decade. In addition, these costs appeared to have either a very small economy of scale or to be increasing as the size of the power plant increased. We conclude that gains in economy of scale can only be made by reducing regulatory and time-related costs through design standardization and regulatory stability, in combination with more favorable economic conditions. 59 refs

  7. 13 CFR 123.603 - What is the interest rate on an economic injury disaster loan under this subpart?

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What is the interest rate on an... September 11, 2001 Terrorist Attacks § 123.603 What is the interest rate on an economic injury disaster loan under this subpart? Your economic injury disaster loan under this subpart will have an interest rate of...

  8. Economic dispatch of a single micro-gas turbine under CHP operation

    International Nuclear Information System (INIS)

    Rist, Johannes F.; Dias, Miguel F.; Palman, Michael; Zelazo, Daniel; Cukurel, Beni

    2017-01-01

    Highlights: •Economic dispatch of a micro gas turbine is considered for smart grid integration. •A detailed thermodynamic cycle analysis is conducted for variable load CHP operation. •Benefits are shown for case studies with real demand profiles and energy tariffs. •Optimal unit schedule can be electricity, heat, revenue or maintenance-cost driven. -- Abstract: This work considers the economic dispatch of a single micro-gas turbine under combined heat and power (CHP) operation. A detailed thermodynamic cycle analysis is conducted on a representative micro-gas turbine unit with non-constant component efficiencies and recuperator bypass. Based on partial and full load configurations, an accurate optimization model is developed for solving the economic dispatch problem of integrating the turbine into the grid. The financial benefit and viability of this approach is then examined on four detailed scenarios using real data on energy demand profiles and electricity tariffs. The analysis considers the optimal operation in a large hotel, a full-service restaurant, a small hotel, and a residential neighborhood during various seasons. The optimal schedule follows four fundamental economic drivers which are electricity, heat, revenue, and maintenance-cost driven.

  9. CONSIDERATIONS ON THE EVOLUTION OF ROMANIAN FOREIGN TRADE UNDER THE IMPACT OF ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    DOBROTĂ GABRIELA

    2011-12-01

    Full Text Available The foreign trade represent the engine of renewal of productive structures of developed countries and the essential vector for the development of newly industrialized nations as countries that can not be considered as belonging to the developing countries, mainly due to exports development. Nobody doubts the need for foreign trade and its possible beneficial effects for the economy of a country, which is supported by John Stuart Mill classical economist, who said that "openness to foreign trade ... is sometimes the effect of an industrial revolution as a country whose resources are poor" This paper analyses, on the one side, the importance of foreign trade and his evolution in 2001– 2010 period, and, on the other side, the consequences of the economic crisis on it. The period under review includes the last years of economic growth in Romania and the first years of actual economic crisis., because the global economic crisis is reflected strongly in the evolution of Romania's foreign trade, which in February 2009, has seen a veritable collapse over the same period of the previous year.

  10. Production System of Peranakan Etawah Goat under Application of Feed Technology: Productivity and Economic Efficiency

    Directory of Open Access Journals (Sweden)

    Akhmad Sodiq

    2009-09-01

    Full Text Available Feed resources are the major constraint in increasing goat production in the village. The main constraints to goat raising are related to feeds (i the high cost of transport of crop residues and grass to the homesteads, (ii the low nutritive value of feeds used, particularly in the dry period. This research was design to evaluate goat productivity and economic efficiency of goat farming under application of feed technology production system in Peranakan Etawah goat farmer group of Gumelar Banyumas Central Java. All farmers were taken as respondents using census methods. On farm research with participative focused group discussion, indepth interview, and farm observation. Descriptive analysis and independent t test methods were used to analyze the data. Results of this study showed that there was a significant improvement goat productivity on production system with the application of feed technology. Body weight at weaning, survival rate till weaning, and doe productivity were increased 7%, 2% and 5%, respectively. There was no evidence of significant different of farmers income and economic efficiency before and after the applied feed technology (P>0.05. The calculation was based on cash flow. Before application, farmers income per year and economic efficiency were Rp14.404.520,00 and 1.21, then insignificantly improve into Rp16.487.100,00 and 1.27, respectively. (Animal Production 11(3: 202-208 (2009 Key Words: Livestock production system, Peranakan Etawah goat, feed technology aplication, productivity and economic efficiency

  11. The opportunity-threat theory of decision-making under risk

    OpenAIRE

    Mohan Pandey

    2018-01-01

    A new theory of decision-making under risk, the Opportunity-Threat Theory is proposed. Analysis of risk into opportunity and threat components allows description of behavior as a combination of opportunity seeking and threat aversion. Expected utility is a special case of this model. The final evaluation is an integration of the impacts of opportunity and threat with this expectation. The model can account for basic results as well as several ``new paradoxes'' that refuted c...

  12. Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation

    Directory of Open Access Journals (Sweden)

    Shelby D. Hunt

    2012-06-01

    Full Text Available Scholars agree that societal-level moral codes that promote social trust also promote wealth creation.  However, what specific kinds of societal-level moral codes promote social trust?  Also, by what specific kind of competitive process does social trust promote wealth creation?  Because societal-level moral codes are composed of or formed from peoples’ personal moral codes, this article explores a theory of ethics, known as the “Hunt-Vitell” theory of ethics, that illuminates the concept of personal moral codes and uses the theory to discuss which types of personal moral codes foster trust and distrust in society.  This article then uses resource-advantage (R-A theory, one of the most completely articulated dynamic theories of competition, to show the process by which trust-promoting, societal-level moral codes promote productivity and economic growth.  That is, they promote wealth creation.

  13. The history of ecosystem services in economic theory and practice: From early notions to markets and payment schemes

    NARCIS (Netherlands)

    Gómez-Baggethun, E.; Groot, de R.S.; Lomas, P.; Sotelo Montes, C.

    2010-01-01

    This paper reviews the historic development of the conceptualization of ecosystem services and examines critical landmarks in economic theory and practice with regard to the incorporation of ecosystem services into markets and payment schemes. The review presented here suggests that the trend

  14. Economism

    Directory of Open Access Journals (Sweden)

    P. Simons

    2010-07-01

    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.

  15. BOP theory in an emerging market economy: India under the microscope

    Directory of Open Access Journals (Sweden)

    Gouher Ahmed

    2015-07-01

    Full Text Available Poverty is a universal phenomenon which does not go well with the progressive 21st century and hence the worldwide efforts to overcome the problem. At the beginning of the 21st century (2002, the late professor C.K. Prahalad had propounded a path breaking theory of poverty alleviation called the bottom of the pyramid business theory, which is not only making MNCs investments (FDI in underdeveloped countries and promoting their growth and employment generation and increase in incomes and thereby consumption and expenditure but also producing goods and services needed by the poor households at the bottom of the economic and business pyramid. The paper is devoted to the consideration of the theory in the emerging market economy of India where poverty is a biggest problem and the situation is not found significant for the BOP business. Can there be a market solution to it?

  16. China's energy consumption under the global economic crisis: Decomposition and sectoral analysis

    International Nuclear Information System (INIS)

    Li, Fangyi; Song, Zhouying; Liu, Weidong

    2014-01-01

    It is now widely recognized that there is a strong relationship between energy consumption and economic growth. Most countries′ energy demands declined during the economic depression of 2008–2009 when a worldwide economic crisis occurred. As an export-oriented economy, China suffered a serious exports decline in the course of the crisis. However, it was found that energy consumption continued to increase. Against such a background, this paper aims to assess and explain the factors causing the growth of energy consumption in China. First, we will explain the impact of domestic final use and international trade on energy consumption by using decomposition analysis. Second, embodied energy and its variation across sectors are quantified to identify the key sectors contributing to the growth. Lastly, the policy implications for long-term energy conservation are discussed. The results show that the decline in exports was one of the driving forces for energy consumption reduction in the crisis, but that the growth of domestic demand in manufacturing and construction, largely stimulated by economic stimulus plans, had the opposite effect on energy consumption. International trade contributed to decreasing energy consumption of China during and after the crisis because the structure of exports and imports changed in this period. - Highlights: • We analyze the reasons for China's energy consumption change under the global economic crisis during 2007–2010. • Domestic final use growth, especially in construction and manufacturing of machinery and equipment, resulted in energy consumption increase. • International trade is identified as a driver of energy consumption reduction during and after the crisis. • Increasing China's share of consumption or reducing its share of investment in the GDP can reduce national energy intensity

  17. Economic Game Theory to Model the Attenuation of Virulence of an Obligate Intracellular Bacterium.

    Science.gov (United States)

    Tago, Damian; Meyer, Damien F

    2016-01-01

    Diseases induced by obligate intracellular pathogens have a large burden on global human and animal health. Understanding the factors involved in the virulence and fitness of these pathogens contributes to the development of control strategies against these diseases. Based on biological observations, a theoretical model using game theory is proposed to explain how obligate intracellular bacteria interact with their host. The equilibrium in such a game shows that the virulence and fitness of the bacterium is host-triggered and by changing the host's defense system to which the bacterium is confronted, an evolutionary process leads to an attenuated strain. Although, the attenuation procedure has already been conducted in practice in order to develop an attenuated vaccine (e.g., with Ehrlichia ruminantium), there was a lack of understanding of the theoretical basis behind this process. Our work provides a model to better comprehend the existence of different phenotypes and some underlying evolutionary mechanisms for the virulence of obligate intracellular bacteria.

  18. EVOLUTION OF THEORIES AND EMPIRICAL MODELS OF A RELATIONSHIP BETWEEN ECONOMIC GROWTH, SCIENCE AND INNOVATIONS (PART I

    Directory of Open Access Journals (Sweden)

    Kaneva M. A.

    2017-12-01

    Full Text Available This article is a first chapter of an analytical review of existing theoretical models of a relationship between economic growth / GRP and indicators of scientific development and innovation activities, as well as empirical approaches to testing this relationship. Aim of the paper is a systematization of existing approaches to modeling of economic growth geared by science and innovations. The novelty of the current review lies in the authors’ criteria of interconnectedness of theoretical and empirical studies in the systematization of a wide range of publications presented in a final table-scheme. In the first part of the article the authors discuss evolution of theoretical approaches, while the second chapter presents a time gap between theories and their empirical verification caused by the level of development of quantitative instruments such as econometric models. The results of this study can be used by researchers and graduate students for familiarization with current scientific approaches that manifest progress from theory to empirical verification of a relationship «economic growth-innovations» for improvement of different types of models in spatial econometrics. To apply these models to management practices the presented review could be supplemented with new criteria for classification of knowledge production functions and other theories about effect of science on economic growth.

  19. Economics vis-à-vis Politics of Venezuela under the Chavez Regime 1998-2012

    Directory of Open Access Journals (Sweden)

    Ramesh Chandra Das

    2016-01-01

    Full Text Available In today’s world most of the countries are following the market rule to determine their economic determinants with some to follow the mixed role of the government. There are a very few countries or states that are following the socialistic nature of development. One such country is Venezuela which has a long history of socialism and the degree of socialism got magnified under the regime of Hugo Chavez. The last election result in favour of Chavez has put some questions before the economists and politicians regarding its grounds. The present study has been framed in line with examining whether the role of economic factors have done the trick for Chavez to regain the presidential power. The study for the period of 1998-2010 has observed that the country has suffered in major economic factors compared to two Latin heroes Brazil and Argentina, albeit he has won the election. The study further observed that there are certain political grounds that played role for the favourable verdict.

  20. Neurocognitive Mechanisms Underlying Value-Based Decision-Making: From Core Values to Economic Value

    Directory of Open Access Journals (Sweden)

    Tobias eBrosch

    2013-07-01

    Full Text Available Value plays a central role in practically every aspect of human life that requires a decision: whether we choose between different consumer goods, whether we decide which person we marry or which political candidate gets our vote, we choose the option that has more value to us. Over the last decade, neuroeconomic research has mapped the neural substrates of economic value, revealing that activation in brain regions such as ventromedial prefrontal cortex (VMPFC, ventral striatum or posterior cingulate cortex reflects how much an individual values an option and which of several options he/she will choose. However, while great progress has been made exploring the mechanisms underlying concrete decisions, neuroeconomic research has been less concerned with the questions of why people value what they value, and why different people value different things. Social psychologists and sociologists have long been interested in core values, motivational constructs that are intrinsically linked to the self-schema and are used to guide actions and decisions across different situations and different time points. Core value may thus be an important determinant of individual differences in economic value computation and decision-making. Based on a review of recent neuroimaging studies investigating the neural representation of core values and their interactions with neural systems representing economic value, we outline a common framework that integrates the core value concept and neuroeconomic research on value-based decision-making.

  1. Neurocognitive mechanisms underlying value-based decision-making: from core values to economic value.

    Science.gov (United States)

    Brosch, Tobias; Sander, David

    2013-01-01

    VALUE PLAYS A CENTRAL ROLE IN PRACTICALLY EVERY ASPECT OF HUMAN LIFE THAT REQUIRES A DECISION: whether we choose between different consumer goods, whether we decide which person we marry or which political candidate gets our vote, we choose the option that has more value to us. Over the last decade, neuroeconomic research has mapped the neural substrates of economic value, revealing that activation in brain regions such as ventromedial prefrontal cortex (VMPFC), ventral striatum or posterior cingulate cortex reflects how much an individual values an option and which of several options he/she will choose. However, while great progress has been made exploring the mechanisms underlying concrete decisions, neuroeconomic research has been less concerned with the questions of why people value what they value, and why different people value different things. Social psychologists and sociologists have long been interested in core values, motivational constructs that are intrinsically linked to the self-schema and are used to guide actions and decisions across different situations and different time points. Core value may thus be an important determinant of individual differences in economic value computation and decision-making. Based on a review of recent neuroimaging studies investigating the neural representation of core values and their interactions with neural systems representing economic value, we outline a common framework that integrates the core value concept and neuroeconomic research on value-based decision-making.

  2. Principles, Economic and Institutional Prerequisites for Fiscal Decentralization under Conditions of Post-Conflict Reconstruction

    Directory of Open Access Journals (Sweden)

    Vishnevsky Valentine P.

    2016-11-01

    Full Text Available The aim of the article is to study principles, economic and institutional prerequisites for fiscal decentralization on post-conflict territories. It is determined that fiscal decentralization is one of the main ways to solve problems of post-conflict areas. There justified principles, economic and institutional prerequisites of fiscal decentralization on post-conflict territories with regard to the specificity of individual spheres of fiscal relations. Moreover, different spheres of fiscal relations require different approaches: the sphere of public revenues — providing economic efficiency with the formation of the tax structure contributing to the expansion of the tax base; the sphere of public spending — ensuring social justice and transparency in allocation of social cost at the local level; the sphere of subsidies — narrowing the scope of application of intergovernmental transfers with organizing the redistribution of financial resources under the principle of «center - post-conflict regions - post-conflict recipients»; the sphere of external assistance — ensuring proper coordination for cultivation of new co-operative institutions.

  3. Neurocognitive mechanisms underlying value-based decision-making: from core values to economic value

    Science.gov (United States)

    Brosch, Tobias; Sander, David

    2013-01-01

    Value plays a central role in practically every aspect of human life that requires a decision: whether we choose between different consumer goods, whether we decide which person we marry or which political candidate gets our vote, we choose the option that has more value to us. Over the last decade, neuroeconomic research has mapped the neural substrates of economic value, revealing that activation in brain regions such as ventromedial prefrontal cortex (VMPFC), ventral striatum or posterior cingulate cortex reflects how much an individual values an option and which of several options he/she will choose. However, while great progress has been made exploring the mechanisms underlying concrete decisions, neuroeconomic research has been less concerned with the questions of why people value what they value, and why different people value different things. Social psychologists and sociologists have long been interested in core values, motivational constructs that are intrinsically linked to the self-schema and are used to guide actions and decisions across different situations and different time points. Core value may thus be an important determinant of individual differences in economic value computation and decision-making. Based on a review of recent neuroimaging studies investigating the neural representation of core values and their interactions with neural systems representing economic value, we outline a common framework that integrates the core value concept and neuroeconomic research on value-based decision-making. PMID:23898252

  4. The challenges and opportunities of climate change policy under different stages of economic development.

    Science.gov (United States)

    Liobikienė, Genovaitė; Butkus, Mindaugas

    2018-06-18

    Climate change policy confronts with many challenges and opportunities. Thus the aim of this study was to analyse the impact of gross domestic product (hereinafter GDP), trade, foreign direct investment (hereinafter FDI), energy efficiency (hereinafter EF) and renewable energy (hereinafter RE) consumption on greenhouse gas (hereinafter GHG) emissions in 1990-2013 and reveal the main challenges and opportunities of climate policy for which policy makers should take the most attention under different stages of economic development. The results showed that the economic growth significantly contributed to the increase of GHG emissions and remains the main challenge in all groups of countries. Analysing the trade impact on pollution, the results revealed that the growth of export (hereinafter EX) significantly reduced GHG emissions only in high income countries. However, the export remains a challenge in low income countries. FDI insignificantly determined the changes in GHG emissions in all groups of countries. Meanwhile, energy efficiency and share of renewable energy consumption are the main opportunities of climate change policy because they reduce the GHG emissions in all groups of countries. Thus, technological processes, the increase of energy efficiency and the shift from carbon to renewable energy sources are the main tools implementing the climate change policy in all countries despite the different stage of economic development. Copyright © 2018 Elsevier B.V. All rights reserved.

  5. Trade-offs Between Socio-economic Development and Ecosystem Health under Changing Water Availability

    Science.gov (United States)

    Nazemi, A.; Hassanzadeh, E.; Elshorbagy, A. A.; Wheater, H. S.; Gober, P.; Jardine, T.; Lindenschmidt, K. E.

    2017-12-01

    Natural and human water systems at regional scales are often developed around key characteristics of streamflow. As a result, changes in streamflow regime can affect both socio-economic activities and freshwater ecosystems. In addition to natural variability and/or climate change, extensive water resource management to support socio-economic growth has also changed streamflow regimes. This study aims at understanding the trade-offs between agricultural expansion in the province of Saskatchewan, Canada, and alterations in the ecohydrological characteristics of the Saskatchewan River Delta (SRD) located downstream. Changes in climate along with extensive water resource management have altered the upstream flow regime. Moreover, Saskatchewan is investigating the possible expansion of irrigated agriculture to boost the provincial economy. To evaluate trade-offs across a range of possible scenarios for streamflow changes, the potential increase in provincial net benefit versus potential vulnerability of the SRD was assessed using perturbed flow realizations along with scenarios of irrigation expansion as input to an integrated water resource system model. This study sheds light on the potential variability in trade-offs between economic benefits and ecosystem health under a range of streamflow conditions, with the aim of informing decisions that can benefit both natural and human water systems.

  6. Decision-making model of generation technology under uncertainty based on real option theory

    International Nuclear Information System (INIS)

    Ming, Zeng; Ping, Zhang; Shunkun, Yu; Ge, Zhang

    2016-01-01

    Highlights: • A decision-making model of generation technology investment is proposed. • The irreversible investment concept and real option theory is introduced. • Practical data was used to prove the validity of the model. • Impact of electricity and fuel price fluctuation on investment was analyzed. - Abstract: The introduction of market competition and the increased uncertainty factors makes the generators have to decide not only on whether to invest generation capacity or not but also on what kind of generation technology to choose. In this paper, a decision-making model of generation technology investment is proposed. The irreversible investment concept and real option theory is introduced as the fundamental of the model. In order to explain the decision-making process of generator’s investment, the decision-making optimization model was built considering two generation technologies, i.e., the heat-only system and the combined heat and power generation. Also, we discussed the theory deducing process, which explained how to eliminate the overrated economic potential caused by risk hazard, based on economic evaluation of both generation technologies. Finally, practical data from electricity market of Inner Mongolia was used to prove the validity of the model and the impact of uncertainties of electricity and fuel price fluctuation on investment was analyzed according to the simulated results.

  7. An Application of the Harmonic Oscillator Model to Verify Dunning’s Theory of the Economic Growth

    Directory of Open Access Journals (Sweden)

    Marcin Salamaga

    2013-09-01

    Full Text Available Analogies with mechanisms ruling the natural world have oft en been sought in the course of economic phenomena.Th is paper is also an attempt to combine the physical phenomenon of a harmonious oscillator withthe theory of economic growth by J. H. Dunning (1981. In his theory, Dunning distinguished stages of economicgrowth of countries that imply the dependency between the investment position of countries and theirGDP per capita, while the graph presenting this dependency reminds a trajectory of oscillating motion of adamped harmonic oscillator. Th is analogy has given inspiration to reinterpret the theory of economy on thegrounds of the mechanism of a physical model. In this paper, the harmonious oscillator motion equation wasadapted to the description of dependencies shown in the theory of economic growth by J. H. Dunning. Th emathematical solution of this equation is properly parameterised and parameters are estimated with the useof the Gauss-Newton algorithm. Th e main objective of this paper is to allocate a specifi c stage in the economicgrowth to each country on the basis of the values of parameter estimations of the proposed cyclical models ofchanges in the net investment indicator.

  8. Time to reject the privileging of economic theory over empirical evidence? A reply to Lawson

    DEFF Research Database (Denmark)

    Juselius, Katarina

    2011-01-01

    The present financial and economic crisis has revealed a systemic failure of academic economics and emphasised the need to re-think how to model economic phenomena. Tony Lawson seems concerned that critics of standard models now will fill academic journals with contributions that make the same me...

  9. Time to Reject the Privileging of Economic Theory over Empirical Evidence? A Reply to Lawson (2009)

    DEFF Research Database (Denmark)

    Juselius, Katarina

    The present financial and economic crisis has revealed a systemic failure of academic economics and emphasized the need to re-think how to model economic phenomena. Lawson (2009) seems concerned that critics of standard models now will fill academic journals with contributions that make the same ...

  10. Assessing economic impact of storm surge under projected sea level rise scenarios

    Science.gov (United States)

    Del Angel, D. C.; Yoskowitz, D.

    2017-12-01

    Global sea level is expected to rise 0.2-2m by the year 2100. Rising sea level is expected to have a number of impacts such as erosion, saltwater intrusion, and decline in coastal wetlands; all which have direct and indirect socio-economic impact to coastal communities. By 2050, 25% of the world's population will reside within flood-prone areas. These statistics raise a concern for the economic cost that sea level and flooding has on the growing coastal communities. Economic cost of storm surge inundation and rising seas may include loss or damage to public facilities and infrastructure that may become temporarily inaccessible, as well as disruptions to business and services. This goal of this project is to assess economic impacts of storms under four SLR scenarios including low, intermediate-low, intermediate-high, and high (0.2m, 0.5m, 1.2m and 2m, respectively) in the Northern Gulf of Mexico region. To assess flooding impact on communities from storm surge, this project utilizes HAZUS-MH software - a Geographic Information System (GIS)-based modeling tool developed by the Federal Emergency Management Agency - to estimate physical, economic, and social impacts of natural disasters such as floods, earthquakes and hurricanes. The HAZUS database comes integrated with aggregate and site specific inventory which includes: demographic data, general building stock, agricultural statistics, vehicle inventory, essential facilities, transportation systems, utility systems (among other sensitive facilities). User-defined inundation scenarios will serve to identify assets at risk and damage estimates will be generated using the Depth Damage Function included in the HAZUS software. Results will focus on 3 communities in the Gulf and highlight changes in storm flood impact. This approach not only provides a method for economic impact assessment but also begins to create a link between ecosystem services and natural and nature-based features such as wetlands, beaches and dunes

  11. Outsourcing and benchmarking in a rural public hospital: does economic theory provide the complete answer?

    Science.gov (United States)

    Young, S H

    2003-01-01

    The ideology and pronouncements of the Australian Government in introducing 'competitive neutrality' to the public sector has improved efficiency and resource usage. In the health sector, the Human Services Department directed that non-clinical and clinical areas be market tested through benchmarking services against the private sector, with the possibility of outsourcing. These services included car parking, computing, laundry, engineering, cleaning, catering, medical imaging (radiology), pathology, pharmacy, allied health and general practice. Managers, when they choose between outsourcing, and internal servicing and production, would thus ideally base their decision on economic principles. Williamson's transaction cost theory studies the governance mechanisms that can be used to achieve economic efficiency and proposes that the optimal organisation structure is that which minimises transaction costs or the costs of exchange. Williamson proposes that four variables will affect such costs, namely: (i) frequency of exchange; (ii) asset specificity; (iii) environmental uncertainty; and (iv) threat of opportunism. This paper provides evidence from a rural public hospital and examines whether Williamson's transaction cost theory is applicable. Case study research operates within the interpretivism paradigm and is used in this research to uncover why the outsourcing decision was made. Such research aims to study real-life experiences by examining the way people think and act and, in contrast to positivism, allows the interviewer to participate to better understand the details and features of the experiences. In the present research, individual interviews were conducted with managers of the hospital and owners and staff of the vendor organisations using semi- and unstructured questions to ascertain the extent of, and processes used in, outsourcing specific functional areas, and areas that were not outsourced. Pathology, radiology, dental technician services and lawn

  12. Theory and methodology of social, political and economic processes risks determining in different countries of the world

    Directory of Open Access Journals (Sweden)

    Yashina Nadezhda, I.

    2015-06-01

    Full Text Available The study deals with the problems of the theory and methodology of social, political and economic processes risks in different countries with relative indicators of the socio-economic development level, as well as the size and condition of the public debt. Developed by the authors the methodology of determining the risks of social, political and economic processes of public policy around the world revealed close relationship between socio-economic situation of the countries and their public debt. Within the framework of this methodology two groups of factors characterizing the socio-political and economic processes in the country are being developed. After that each exponent and indicator are being processed, using expert procedures. Maximum statutory values for tentatively referenced countries with effective and ineffective government policies are identified. Then standardization (specification and definition of integral (generalized indexes of socio-political and economic processes in the country are taking place. After that the ranking of countries by aggregated standardized ratio is arranged, taking into account the significance of the developed indicators. The final phase of implementation methodology is identifying risks of social, political and economic processes of public policy around the world. This is the ranking of countries by ratio of stability in public policy (stability of economic and socio-political processes in the country. As the result of implementation methodology the following output was received: what really makes a difference is not the amount of the country's debt, but how effectively it manages this debt, whether it has a goal to improve social and economic indicators. Practical testing methodology has proven that studied indicators fully characterize the development of the countries, their political, social and economic situation on the world stage.

  13. Uncertainties under emergency conditions and possible application of fuzzy theory for nuclear safety

    International Nuclear Information System (INIS)

    Nishiwaki, Y.

    1996-01-01

    Various uncertainties involved in emergency conditions are discussed, and it is pointed out that uncertainties, in many factors, are fuzzy. As a result, it is proposed to use fuzzy theory as an attempt for analysing cause and effects under emergency conditions such as Hiroshima, Nagasaki and other nuclear accidents and, for fuzzy failure analysis and diagnostics of nuclear power plant

  14. Foundational Concepts and Underlying Theories for Majors in "Biochemistry and Molecular Biology"

    Science.gov (United States)

    Tansey, John T.; Baird, Teaster, Jr.; Cox, Michael M.; Fox, Kristin M.; Knight, Jennifer; Sears, Duane; Bell, Ellis

    2013-01-01

    Over the past two years, through an NSF RCN UBE grant, the ASBMB has held regional workshops for faculty members and science educators from around the country that focused on identifying: 1) core principles of biochemistry and molecular biology, 2) essential concepts and underlying theories from physics, chemistry, and mathematics, and 3)…

  15. Planificarea economică sub monarhia autoritară din România (The economic planning under authoritarian monarchy of Romania

    Directory of Open Access Journals (Sweden)

    Florin GRECU

    2016-06-01

    Full Text Available The article analyzes the economic planning institution under authoritarian monarchy of Romania, 1938-1940. The Superior Economic Council, populated by specialists, had the main responsibilities of planning and economic control. The Superior Economic Council composition will be found in the structures of the National Renaissance Front as well as in the composition of the corporatist Parliament. The appointment of the Members of the The Superior Economic Council by royal decree has highlighted the monarch’s desire to have a personal institution, which would be composed of all the important representatives of the Economy, Industry and Finances. The Super Ministry, Ministry of National Economy, headed by Mitiţă Constantinescu, have the task of guidance, coordination and encouragement of the progress for the productive forces distribution of production, direction and supervision of importation, and preparation of economic laws. By the Decree of October 1939, the Ministry of National Economy may could decide the syndicalization of all enterprises, from a specific industrial branch, setting concrete tasks of production and selling of goods. The Superior Economic Council was established to coordinate the corporate economy through policies of planism and economic nationalization, but the corporate institutution of the Romanian authoritative state was the guild

  16. Spreading of intolerance under economic stress: Results from a reputation-based model

    Science.gov (United States)

    Martinez-Vaquero, Luis A.; Cuesta, José A.

    2014-08-01

    When a population is engaged in successive prisoner's dilemmas, indirect reciprocity through reputation fosters cooperation through the emergence of moral and action rules. A simplified model has recently been proposed where individuals choose between helping others or not and are judged good or bad for it by the rest of the population. The reputation so acquired will condition future actions. In this model, eight strategies (referred to as "leading eight") enforce a high level of cooperation, generate high payoffs, and are therefore resistant to invasions by other strategies. Here we show that, by assigning each individual one of two labels that peers can distinguish (e.g., political ideas, religion, and skin color) and allowing moral and action rules to depend on the label, intolerant behaviors can emerge within minorities under sufficient economic stress. We analyze the sets of conditions where this can happen and also discuss the circumstances under which tolerance can be restored. Our results agree with empirical observations that correlate intolerance and economic stress and predict a correlation between the degree of tolerance of a population and its composition and ethical stance.

  17. State Policy of Stimulation of Industrial Competitiveness under Conditions of Economic Integration

    Directory of Open Access Journals (Sweden)

    Kovalchuk Viacheslav H.

    2014-03-01

    Full Text Available The article is devoted to problems of state regulatory policy of stimulation of economic growth, increase of efficiency of activity of industrial branches of the country. It considers examples of foreign experience in the part of state support of domestic manufacturers. It shows possible variants of integration of co-operation between CIS countries on the basis of specialisation, co-operation and joint activity for achieving economic growth of economies. It demonstrates an automated system of mass servicing of customers, which is offered to be used in the structure of associations of trade enterprises. It offers ways of achievement of competitive advantages of domestic enterprises under conditions of globalisation by means of introduction of clusters of the consumer market enterprises. The article reveals their shortcomings and possibilities of development in the territory of Ukraine under conditions of limited financial resources. It acknowledges that measures of the fiscal policy should be directed, first of all, at support of creation of associations of medium enterprises of the light and other branches of industry and agriculture, which have development potential. It identifies main elements of creation of state programmes of support and development of the cluster form of organisation of the light and other branches of industry, agriculture and trade.

  18. Organizational Economics: Notes on the Use of Transaction-Cost Theory in the Study of Organizations.

    Science.gov (United States)

    Robins, James A.

    1987-01-01

    Reviews transaction-cost approaches to organizational analysis, examines their use in microeconomic theory, and identifies some important flaws in the study. Advocates transaction-cost theory as a powerful tool for organizational and strategic analysis when set within the famework of more general organizational theory. Includes 61 references. (MLH)

  19. PRINCIPLE OF RATIONAL EGOISM AS AN IDEOLOGICAL CONCEPTION OF MAN FOUNDATION UNDER THE CONTEXT OF ECONOMIC RELATIONS

    Directory of Open Access Journals (Sweden)

    Oksana Petinowa

    2016-12-01

    Full Text Available The modern global context of humanity’s existence is greatly mediated by economic relations. The solution of typical social issues is closely related to the economic sphere, economic activity, and market mechanisms. The subject of all co-operations is the specific character of his economic, natural and behavioral displays, presented in the model of homo economicus. The article considers the historical part of ideological reconstructions of economic theories where certain conceptions of man, one or another understanding of his essence and destiny as an expression of the spirit of time are shown (A. Smith, L. Valla, N. Machiavelli, T. Gobbs, F. Bacon, B. Mandeville, J.J. Rousseau, D. Didro, C. Helvétius, P. Holbach and others.

  20. Centralised, decentralised or hybrid sanitation systems? Economic evaluation under urban development uncertainty and phased expansion.

    Science.gov (United States)

    Roefs, Ivar; Meulman, Brendo; Vreeburg, Jan H G; Spiller, Marc

    2017-02-01

    Sanitation systems are built to be robust, that is, they are dimensioned to cope with population growth and other variability that occurs throughout their lifetime. It was recently shown that building sanitation systems in phases is more cost effective than one robust design. This phasing can take place by building small autonomous decentralised units that operate closer to the actual demand. Research has shown that variability and uncertainty in urban development does affect the cost effectiveness of this approach. Previous studies do not, however, consider the entire sanitation system from collection to treatment. The aim of this study is to assess the economic performance of three sanitation systems with different scales and systems characteristics under a variety of urban development pathways. Three systems are studied: (I) a centralised conventional activated sludge treatment, (II) a community on site source separation grey water and black water treatment and (III) a hybrid with grey water treatment at neighbourhood scale and black water treatment off site. A modelling approach is taken that combines a simulation of greenfield urban growth, a model of the wastewater collection and treatment infrastructure design properties and a model that translates design parameters into discounted asset lifetime costs. Monte Carlo simulations are used to evaluate the economic performance under uncertain development trends. Results show that the conventional system outperforms both of the other systems when total discounted lifetime costs are assessed, because it benefits from economies of scale. However, when population growth is lower than expected, the source-separated system is more cost effective, because of reduced idle capacity. The hybrid system is not competitive under any circumstance due to the costly double piping and treatment. Copyright © 2016 Elsevier Ltd. All rights reserved.

  1. Structural reliability analysis under evidence theory using the active learning kriging model

    Science.gov (United States)

    Yang, Xufeng; Liu, Yongshou; Ma, Panke

    2017-11-01

    Structural reliability analysis under evidence theory is investigated. It is rigorously proved that a surrogate model providing only correct sign prediction of the performance function can meet the accuracy requirement of evidence-theory-based reliability analysis. Accordingly, a method based on the active learning kriging model which only correctly predicts the sign of the performance function is proposed. Interval Monte Carlo simulation and a modified optimization method based on Karush-Kuhn-Tucker conditions are introduced to make the method more efficient in estimating the bounds of failure probability based on the kriging model. Four examples are investigated to demonstrate the efficiency and accuracy of the proposed method.

  2. Decision-making under risk. An overview of some alternative utility theories

    International Nuclear Information System (INIS)

    Pauwels, N.; Van Woensel, T.

    1998-09-01

    Decision-makers often have to take decisions with unknown consequences that depend on various events which on their turn can take place a certain chance. Under the given circumstances, the traditional decision criterion is based on the maximisation of the expected benefits. Experimental studies have however revealed important inconsistencies between decisions taken on the basis of this decision criterion on the one hand and the observed decisions on the other hand. The report gives an overview of a number of alternative theories extending or adapting the traditional theory in view of avoiding the observed inconsistencies

  3. Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Price, March 2016

    Science.gov (United States)

    2016-03-01

    Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Price , March 2016 March 2016CONGRESS... Price and His Staff 1 The Extended Baseline and Three Illustrative Paths 1 How CBO Analyzed the Effects of the Budgetary Paths 3 What Would Outcomes...Be Under Current Law? 4 What Paths for Federal Revenues and Noninterest Spending Did Chairman Price Specify? 6 What Would Budgetary and Economic

  4. Fed-batch and perfusion culture processes: economic, environmental, and operational feasibility under uncertainty.

    Science.gov (United States)

    Pollock, James; Ho, Sa V; Farid, Suzanne S

    2013-01-01

    This article evaluates the current and future potential of batch and continuous cell culture technologies via a case study based on the commercial manufacture of monoclonal antibodies. The case study compares fed-batch culture to two perfusion technologies: spin-filter perfusion and an emerging perfusion technology utilizing alternating tangential flow (ATF) perfusion. The operational, economic, and environmental feasibility of whole bioprocesses based on these systems was evaluated using a prototype dynamic decision-support tool built at UCL encompassing process economics, discrete-event simulation and uncertainty analysis, and combined with a multi-attribute decision-making technique so as to enable a holistic assessment. The strategies were compared across a range of scales and titres so as to visualize how their ranking changes in different industry scenarios. The deterministic analysis indicated that the ATF perfusion strategy has the potential to offer cost of goods savings of 20% when compared to conventional fed-batch manufacturing processes when a fivefold increase in maximum viable cell densities was assumed. Savings were also seen when the ATF cell density dropped to a threefold increase over the fed-batch strategy for most combinations of titres and production scales. In contrast, the fed-batch strategy performed better in terms of environmental sustainability with a lower water and consumable usage profile. The impact of uncertainty and failure rates on the feasibility of the strategies was explored using Monte Carlo simulation. The risk analysis results demonstrated the enhanced robustness of the fed-batch process but also highlighted that the ATF process was still the most cost-effective option even under uncertainty. The multi-attribute decision-making analysis provided insight into the limited use of spin-filter perfusion strategies in industry. The resulting sensitivity spider plots enabled identification of the critical ratio of weightings of

  5. Military Authoritarian Regimes and Economic Development: The ROK’s Economic Take-Off Under Park Chung Hee

    Science.gov (United States)

    2008-12-01

    and the Personalization of Power in Malaysia ," Comparative Politics 36, no. 1 (Oct. 2003), 81-101. 2 Talcott Parsons, Theories of Society...BAIR (bureaucratic-authoritarian industrializing regime).21 The annual growth rate of HPAEs eight countries (Hong Kong, Indonesia, Japan, Malaysia ...industries, and finally Samsung Electronics, POSCO, Daewoo shipbuilding, Hyundai Heavy were developed.58

  6. Public policy managers councils under the focus of the theory of organizations : theoretical- conceptual approaches

    Directory of Open Access Journals (Sweden)

    Fernanda Gabriela Gandra Pimenta Magalhães

    2016-01-01

    Full Text Available This paper do approaches between organizational theory and councils, proposing a deepening of the different perspectives of the object. The interfaces are displayed between the object and theory, followed by the similarities between them and the themes of organizational theory. The goal is to show the intersection points, the contribution of organizational studies for the understanding of this object. It was concluded that the different perspectives presented are complementary, indicating that the councils, places permeated by conflicts of power and cultural issues, constitute new organizational form that is implemented through partnerships networks between society and state. This infers also that the institutionalization of conuncils includes a new time and form of public management, developed under the logic of substantive rational action and humanistic paradigm.

  7. Nonadiabatic theory of strong-field atomic effects under elliptical polarization

    International Nuclear Information System (INIS)

    Wang Xu; Eberly, J. H.

    2012-01-01

    Elliptically polarized laser fields provide a new channel for access to strong-field processes that are either suppressed or not present under linear polarization. Quantum theory is mostly unavailable for their analysis, and we report here results of a systematic study based on a classical ensemble theory with solution of the relevant ab inito time-dependent Newton equations for selected model atoms. The study's approach is necessarily nonadiabatic, as it follows individual electron trajectories leading to single, double, and triple ionizations. Of particular interest are new results bearing on open questions concerning experimental reports of unexplained species dependences as well as double-electron release times that are badly matched by a conventional adiabatic quantum tunneling theory. We also report the first analysis of electron trajectories for sequential and non-sequential triple ionization.

  8. Unrealistic Assumptions in Economics: an Analysis under the Logic of Socioeconomic Processes

    Directory of Open Access Journals (Sweden)

    Leonardo Ivarola

    2014-11-01

    Full Text Available The realism of assumptions is an ongoing debate within the philosophy of economics. One of the most referenced papers in this matter belongs to Milton Friedman. He defends the use of unrealistic assumptions, not only because of a pragmatic issue, but also the intrinsic difficulties of determining the extent of realism. On the other hand, realists have criticized (and still do today the use of unrealistic assumptions - such as the assumption of rational choice, perfect information, homogeneous goods, etc. However, they did not accompany their statements with a proper epistemological argument that supports their positions. In this work it is expected to show that the realism of (a particular sort of assumptions is clearly relevant when examining economic models, since the system under study (the real economies is not compatible with logic of invariance and of mechanisms, but with the logic of possibility trees. Because of this, models will not function as tools for predicting outcomes, but as representations of alternative scenarios, whose similarity to the real world will be examined in terms of the verisimilitude of a class of model assumptions

  9. Economic analysis of nitrogen fertilization in winter bean plant under no-tillage system

    Directory of Open Access Journals (Sweden)

    Michelle Traete Sabundjian

    2014-09-01

    Full Text Available With the expansion and diversity of the no-tillage system, it is necessary to evaluate the economic benefits generated throughout the production cycle, especially those related to remnants of previous crops and nitrogen fertilizer management of succeeding crops. This study aimed to evaluate the economic viability of four cover nitrogen doses on winter bean grain yield grown under no-tillage system after different crops. The experimental design was randomized blocks with four replications, in a 8x4 factorial scheme, with 32 treatments consisting of a combination of crop remnants (mayze; mayze - Azospirillum brasilense; Urochloa ruziziensis; Urochloa ruziziensis - Azospirillum brasilense; mayze + U. ruziziensis; mayze -A. brasilense + U. ruziziensis; mayze + U. ruziziensis - A. brasilense; mayze -A. brasilense + U. ruziziensis - A. brasilense and cover nitrogen doses (0 kg ha-1, 30 kg ha-1, 60 kg ha-1 and 90 kg ha-1. It was possible to conclude that the highest grain yield of winter bean plants irrigated by aspersion was obtained with the use of 90 kg ha-1 of cover nitrogen in succession to Urochloa ruziziensis without the inoculation of Azospirillum brasilense. In order to improve profits, it is recommended to apply 90 kg ha-1 of cover nitrogen to bean crops succeeding the other crops, except for inoculated Urochloa ruziziensis.

  10. Evaluation of Possible Proximate Mechanisms Underlying the Kinship Theory of Intragenomic Conflict in Social Insects.

    Science.gov (United States)

    Galbraith, David A; Yi, Soojin V; Grozinger, Christina M

    2016-12-01

    Kinship theory provides a universal framework in which to understand the evolution of altruism, but there are many molecular and genetic mechanisms that can generate altruistic behaviors. Interestingly, kinship theory specifically predicts intragenomic conflict between maternally-derived alleles (matrigenes) and paternally-derived alleles (patrigenes) over the generation of altruistic behavior in cases where the interests of the matrigenes and patrigenes are not aligned. Under these conditions, individual differences in selfish versus altruistic behavior are predicted to arise from differential expression of the matrigenes and patrigenes (parent-specific gene expression or PSGE) that regulate selfish versus altruistic behaviors. As one of the leading theories to describe PSGE and genomic imprinting, kinship theory has been used to generate predictions to describe the reproductive division of labor in social insect colonies, which represents an excellent model system to test the hypotheses of kinship theory and examine the underlying mechanisms driving it. Recent studies have confirmed the predicted differences in the influence of matrigenes and patrigenes on reproductive division of labor in social insects, and demonstrated that these differences are associated with differences in PSGE of key genes involved in regulating reproductive physiology, providing further support for kinship theory. However, the mechanisms mediating PSGE in social insects, and how PSGE leads to differences in selfish versus altruistic behavior, remain to be determined. Here, we review the available supporting evidence for three possible epigenetic mechanisms (DNA methylation, piRNAs, and histone modification) that may generate PSGE in social insects, and discuss how these may lead to variation in social behavior. © The Author 2016. Published by Oxford University Press on behalf of the Society for Integrative and Comparative Biology. All rights reserved. For permissions please email

  11. Leisure of the theory class. [Relationship of socio-economic status and espousals on energy or the economy

    Energy Technology Data Exchange (ETDEWEB)

    Laney, R.V.

    1978-05-11

    The energy debate is evolving into discussions of how to select options capable of meeting long-range social goals and how to apply the appropriate weight to the various perceptions that underlie individual opinions. The causal relationships linking personal status and attitudes is examined to see if there is a correlation between economic well-being and enthusiasm for a no-growth economy. The affluent U.S. college-educated, primarily concerned with self-actualization, show an inversion of Maslow's hierarchy of needs compared to people in developing countries. They are also in a position to express and promote theories for no-risk technology. The author suggests that these theorists be required to submit the same detailed support for their theories as is required for new energy facilities. The theory class is noted for acting upon faith rather than evidence; for ideas rather than workable plans.

  12. Heuristics for the Economic Production Quantity Problem under Restrictions on Production and Maintenance Time

    Directory of Open Access Journals (Sweden)

    Qi Xu

    2016-01-01

    Full Text Available This paper proposes an economic production quantity problem with the maximal production run time and minimal preventive maintenance time over a finite planning horizon. The objective is to find the efficient production and maintenance policy to minimize the total cost composed of production, maintenance, shortages, and holding costs under the restriction on the production run time and the preventive maintenance time. The production and maintenance decisions include the production and maintenance frequencies and the production run and the maintenance time. The variability and the boundedness of the production run and maintenance time make the problem difficult to solve. Two heuristic algorithms are developed using different techniques based on the optimal properties of the relaxed problem. The performance comparison between the two algorithms is illustrated by numerical examples. The numerical results show that, for the most part, there exists a heuristic algorithm which is more effective than the other.

  13. Economic Dispatch for Operating Cost Minimization under Real Time Pricing in Droop Controlled DC Microgrid

    DEFF Research Database (Denmark)

    Li, Chendan; Federico, de Bosio; Chen, Fang

    2017-01-01

    In this paper, an economic dispatch problem for total operation cost minimization in DC microgrids is formulated. An operating cost is associated with each generator in the microgrid, including the utility grid, combining the cost-efficiency of the system with demand response requirements...... achieving higher control accuracy and faster response. The optimization problem is solved in a heuristic method. In order to test the proposed algorithm, a six-bus droop-controlled DC microgrid is used in the case studies. Simulation results show that under variable renewable energy generation, load...... of the utility. The power flow model is included in the optimization problem, thus the transmission losses can be considered for generation dispatch. By considering the primary (local) control of the grid-forming converters of a microgrid, optimal parameters can be directly applied to this control level, thus...

  14. On Rural Financial and Accounting Work under the Background of Rapid Agricultural Economic Development

    Institute of Scientific and Technical Information of China (English)

    Yaozheng; TANG

    2013-01-01

    Under the background of rapid agricultural economic development,rural financial and accounting work is of great significance. From rural accounting management system,rural accountant allocation and rural accounting training,this paper analyzes current situations of rural accounting work in China. In rural financial and accounting work,there are following problems. ( 1) Accounting behavior is not standard,and basic accounting work is to be further strengthened; ( 2) Internal control is not perfect and implementation of supervision mechanism is formalized; ( 3) Few people manipulate accounting behavior and accounting information is not transparent. In view of these problems,it puts forward countermeasures for improving rural accounting work: ( 1) establishing perfect agricultural accounting system; ( 2) regulating fund management order; ( 3) promoting computerized agricultural financial and accounting work; ( 4) improving professional and comprehensive quality of rural accountants.

  15. Test of Achievement in Quantitative Economics for Secondary Schools: Construction and Validation Using Item Response Theory

    Science.gov (United States)

    Eleje, Lydia I.; Esomonu, Nkechi P. M.

    2018-01-01

    A Test to measure achievement in quantitative economics among secondary school students was developed and validated in this study. The test is made up 20 multiple choice test items constructed based on quantitative economics sub-skills. Six research questions guided the study. Preliminary validation was done by two experienced teachers in…

  16. Water as an economic good in irrigated agriculture: theory and practice

    NARCIS (Netherlands)

    Hellegers, P.J.G.J.; Perry, C.J.

    2004-01-01

    This report describes the results of the Water Valuation and Pricing project, which aims to provide insight into the relevance of economics to typical problems found in irrigated agriculture. It first considers the theoretical basis for the use of economic instruments, then considers their

  17. PROBLEM OF OPTIMIZATION OF ENTERPRISE FINANCIAL STREAMS: URGENCY UNDER ECONOMIC CRISIS CONDITIONS

    Directory of Open Access Journals (Sweden)

    J. E. Gorbach

    2011-01-01

    Full Text Available The paper considers a problem of structural optimization of financial streams in the economic activities of the enterprises. The authors describe a general process of enterprise capital structure optimization while breaking it in stages and consider the most interesting financial stream theories. The paper presents for the first time «Combined optimization model». In order to develop the model the most commonly applied methods have been used, namely: an optimization  method on the basis of an average capital price, an optimization method on the basis of financial leverage effect and an optimization method on the basis of the average managing subject price. Alternative calculations of optimum structure of financial stream sources on the basis of the proposed «combined model» have been presented in corresponding tables. The authors also use for the first time such concepts as «a break-even point» and «a safety zone» in respect of enterprise financial streams while using a graphic method.

  18. Optimal Decision-Making in Fuzzy Economic Order Quantity (EOQ Model under Restricted Space: A Non-Linear Programming Approach

    Directory of Open Access Journals (Sweden)

    M. Pattnaik

    2013-08-01

    Full Text Available In this paper the concept of fuzzy Non-Linear Programming Technique is applied to solve an economic order quantity (EOQ model under restricted space. Since various types of uncertainties and imprecision are inherent in real inventory problems they are classically modeled using the approaches from the probability theory. However, there are uncertainties that cannot be appropriately treated by usual probabilistic models. The questions how to define inventory optimization tasks in such environment how to interpret optimal solutions arise. This paper allows the modification of the Single item EOQ model in presence of fuzzy decision making process where demand is related to the unit price and the setup cost varies with the quantity produced/Purchased. This paper considers the modification of objective function and storage area in the presence of imprecisely estimated parameters. The model is developed for the problem by employing different modeling approaches over an infinite planning horizon. It incorporates all concepts of a fuzzy arithmetic approach, the quantity ordered and the demand per unit compares both fuzzy non linear and other models. Investigation of the properties of an optimal solution allows developing an algorithm whose validity is illustrated through an example problem and ugh MATLAB (R2009a version software, the two and three dimensional diagrams are represented to the application. Sensitivity analysis of the optimal solution is also studied with respect to changes in different parameter values and to draw managerial insights of the decision problem.

  19. Economic burden of a nuclear force: no data in search of a theory

    International Nuclear Information System (INIS)

    Rochlin, G.I.

    1983-01-01

    A country which decides to develop a militarily significant nuclear force after conducting an acknowledged test of a nuclear explosive device must progress up a series of costs. This chapter examines cases in which the economic costs of moving from one force level to the next are sufficient to limit the rate of growth of capability. It finds that when economic barriers are severe, there seems to be some economic strategies for managing in terms of limiting force improvement through the manipulation of economic factors. These economic levers sometimes go against the grain of traditional politico-military approaches. In all cases, it is necessary to consider whether the overall and long-term effects of the levers applied to a specific country strengthen or weaken the overall strategy, which is to limit and restrain the proliferation of nuclear weapons in general and not just in specific cases. 16 references, 5 figures, 3 tables

  20. Mathematical-statistical models and qualitative theories for economic and social sciences

    CERN Document Server

    Maturo, Fabrizio; Kacprzyk, Janusz

    2017-01-01

    This book presents a broad spectrum of problems related to statistics, mathematics, teaching, social science, and economics as well as a range of tools and techniques that can be used to solve these problems. It is the result of a scientific collaboration between experts in the field of economic and social systems from the University of Defence in Brno (Czech Republic), G. d’Annunzio University of Chieti-Pescara (Italy), Pablo de Olavid eUniversity of Sevilla (Spain), and Ovidius University in Constanţa, (Romania). The studies included were selected using a peer-review process and reflect heterogeneity and complexity of economic and social phenomena. They and present interesting empirical research from around the globe and from several research fields, such as statistics, decision making, mathematics, complexity, psychology, sociology and economics. The volume is divided into two parts. The first part, “Recent trends in mathematical and statistical models for economic and social sciences”, collects pap...

  1. Do politicians take risks like the rest of us? An experimental test of prospect theory under MPs

    NARCIS (Netherlands)

    Linde, J.; Vis, B.

    Political psychologists have been quick to use prospect theory in their work, realizing its potential for explaining decisions under risk. Applying prospect theory to political decision-making is not without problems, though, and here we address two of these: (1) Does prospect theory actually apply

  2. Do Politicians Take Risks Like the Rest of Us? An Experimental Test of Prospect Theory Under MPs

    NARCIS (Netherlands)

    Linde, Jona; Vis, Barbara

    Political psychologists have been quick to use prospect theory in their work, realizing its potential for explaining decisions under risk. Applying prospect theory to political decision-making is not without problems, though, and here we address two of these: (1) Does prospect theory actually apply

  3. Algunas aplicaciones de la Teoría de Lie a la Economía y las Finanzas = Some Applications of Lie Theory to Economics and Finance

    Directory of Open Access Journals (Sweden)

    Hernández Fernández, Isabel

    2008-01-01

    Full Text Available En este artículo, los autores pretenden mostrar y explicar cómo la Teoría de Lie se puede aplicar a la resolución de algunos problemas relativos a la Economía y a las Finanzas. Concretamente, se realiza un análisis de dos de esos problemas y se discuten tanto sus aspectos matemáticos como el acercamiento hecho desde la Teoría de Lie para su resolución. Igualmente, se indican los avances más recientes existentes en esta línea de investigación, mencionando también algunos problemas abiertos que pueden ser tratados en futuros trabajos. = This paper shows and explains two problems in Economics and Finance, both dealt with a Lie Theory approach. So, mathematical aspects for these approaches are put forward and discussed in several economic problems which have been previously considered in the literature. Besides, some advances on this topic are also shown, mentioning some open problems for future research.

  4. Decision making under time pressure, modeled in a prospect theory framework

    Science.gov (United States)

    Young, Diana L.; Goodie, Adam S.; Hall, Daniel B.; Wu, Eric

    2012-01-01

    The current research examines the effects of time pressure on decision behavior based on a prospect theory framework. In Experiments 1 and 2, participants estimated certainty equivalents for binary gains-only bets in the presence or absence of time pressure. In Experiment 3, participants assessed comparable bets that were framed as losses. Data were modeled to establish psychological mechanisms underlying decision behavior. In Experiments 1 and 2, time pressure led to increased risk attractiveness, but no significant differences emerged in either probability discriminability or outcome utility. In Experiment 3, time pressure reduced probability discriminability, which was coupled with severe risk-seeking behavior for both conditions in the domain of losses. No significant effects of control over outcomes were observed. Results provide qualified support for theories that suggest increased risk-seeking for gains under time pressure. PMID:22711977

  5. Decision making under time pressure, modeled in a prospect theory framework.

    Science.gov (United States)

    Young, Diana L; Goodie, Adam S; Hall, Daniel B; Wu, Eric

    2012-07-01

    The current research examines the effects of time pressure on decision behavior based on a prospect theory framework. In Experiments 1 and 2, participants estimated certainty equivalents for binary gains-only bets in the presence or absence of time pressure. In Experiment 3, participants assessed comparable bets that were framed as losses. Data were modeled to establish psychological mechanisms underlying decision behavior. In Experiments 1 and 2, time pressure led to increased risk attractiveness, but no significant differences emerged in either probability discriminability or outcome utility. In Experiment 3, time pressure reduced probability discriminability, which was coupled with severe risk-seeking behavior for both conditions in the domain of losses. No significant effects of control over outcomes were observed. Results provide qualified support for theories that suggest increased risk-seeking for gains under time pressure.

  6. Study of capillary experiments and hydrologic factors under subsurface drip irrigation with fractal theory

    International Nuclear Information System (INIS)

    Zhou, W; Cao, L

    2012-01-01

    Soil spatial variability is one of the primary environmental factors that influences the hydraulic factors and technical indicators of subsurface drip irrigation (SDI), whose emitters are buried in the soil. This paper aimed at evaluating these effects of soil spatial variability on hydrologic factors under SDI. And some SDI emitter and capillary experiments were designed to obtain test data and distribution of pressure and emitter discharge. First, The results of labyrinth non-turbulent mosaic drip emitter test and fractal theory were used to research the fractal and quantitative relationship between single emitter hydrologic factors and soil physical parameters; and then, the capillary experiments and the relationship among hydrologic factors of capillary were used to analyze the fractal and quantitative relationship between hydrologic factors of capillary and soil physical parameters, which explained the inner relationship between spatial variability of soil and hydrologic factors of filed pipeline network under SDI, and provide theory support for the plan, design, management and production of SDI.

  7. Impact of economic fluctuations on suicide mortality in Canada (1926-2008): Testing the Durkheim, Ginsberg, and Henry and Short theories.

    Science.gov (United States)

    Thibodeau, Lise; Lachaud, James

    2016-01-01

    Three theories have been proposed to explain the relationship between suicide and economic fluctuations, including the Durkheim (nonlinear), Ginsberg (procyclical), and Henry and Short (countercyclical) theories. This study tested the effect of economic fluctuations, measured by unemployment rate, on suicide rates in Canada from 1926 to 2008. Autoregressive integrated moving average time-series models were used. The results showed a significant relationship between suicide and economic fluctuation; this association was positive during the contraction period (1926-1950) and negative in the period of economic expansion (1951-1973). Males and females showed differential effects in the period of moderate unemployment (1974-2008). In addition, the suicide rate of mid-adults (45-64) was most impacted by economic fluctuations. Our study tends to support Durkheim's theory and suggests the need for public health responses in times of economic contraction and expansion.

  8. Environmental and economic risks assessment under climate changes for three land uses scenarios analysis across Teshio watershed, northernmost of Japan.

    Science.gov (United States)

    Fan, Min; Shibata, Hideaki; Chen, Li

    2017-12-01

    Land use and climate changes affect on the economy and environment with different patterns and magnitudes in the watershed. This study used risk analysis model stochastic efficiency with respect to a function (SERF) to evaluate economic and environmental risks caused by four climate change scenarios (baseline, small-, mid- and large changes) and three land uses (paddy dominated, paddy-farmland mixture and farmland dominated for agriculture) in Teshio watershed in northern Hokkaido, Japan. Under the baseline climate conditions, the lower ranking of economic income of crop yield and higher ranking of pollutant load from agricultural land were both predicted in paddy dominated for agriculture, suggesting that the paddy dominated system caused higher risks of economic and environmental variables compared to other two land uses. Increase of temperature and precipitation increased crop yields under all three climate changes which resulted in increase of the ranking of economic income, indicating that those climate changes could reduce economic risk. The increased temperature and precipitation also accelerated mineralization of organic nutrient and nutrient leaching to river course of Teshio which resulted in increase of the ranking of pollutant load, suggesting that those climate changes could lead to more environmental risk. The rankings of economic income in mid- and large changes of climate were lower than that in small change of climate under paddy-farmland mixture and farmland dominated systems due to decrease of crop yield, suggesting that climate change led to more economic risk. In summary, the results suggested that increase in temperature and precipitation caused higher risks of both economic and environmental perspectives, and the impacts was higher than those of land use changes in the studied watershed. Those findings would help producers and watershed managers to measure the tradeoffs between environmental protection and agricultural economic development

  9. Potential distribution of dengue fever under scenarios of climate change and economic development.

    Science.gov (United States)

    Aström, Christofer; Rocklöv, Joacim; Hales, Simon; Béguin, Andreas; Louis, Valerie; Sauerborn, Rainer

    2012-12-01

    Dengue fever is the most important viral vector-borne disease with ~50 million cases per year globally. Previous estimates of the potential effect of global climate change on the distribution of vector-borne disease have not incorporated the effect of socioeconomic factors, which may have biased the results. We describe an empirical model of the current geographic distribution of dengue, based on the independent effects of climate and gross domestic product per capita (GDPpc, a proxy for socioeconomic development). We use the model, along with scenario-based projections of future climate, economic development, and population, to estimate populations at risk of dengue in the year 2050. We find that both climate and GDPpc influence the distribution of dengue. If the global climate changes as projected but GDPpc remained constant, the population at risk of dengue is estimated to increase by about 0.28 billion in 2050. However, if both climate and GDPpc change as projected, we estimate a decrease of 0.12 billion in the population at risk of dengue in 2050. Empirically, the geographic distribution of dengue is strongly dependent on both climatic and socioeconomic variables. Under a scenario of constant GDPpc, global climate change results in a modest but important increase in the global population at risk of dengue. Under scenarios of high GDPpc, this adverse effect of climate change is counteracted by the beneficial effect of socioeconomic development.

  10. Travel marketing, tourism economics and the airline product : an introduction to theory and practice

    OpenAIRE

    Camilleri, Mark Anthony

    2017-01-01

    An ever-increasing number of destinations have opened-up to, and invested in tourism, turning this industry into a key driver for socio-economic progress. Over the past six decades, tourism has experienced continued expansion and uninterrupted growth, despite occasional shocks. The tourism industry has become one of the largest economic sectors in the world. Many new destinations are increasingly emerging, in addition to the traditional favourites, including; Europe and North America. Interna...

  11. Welfare Impact of ASEAN Economic Integration: “ASEAN Way” Versus Theory

    OpenAIRE

    Andrista, Safira; Widodo, Tri

    2017-01-01

    The ASEAN Economic Community (AEC) has been implemented since the beginning of 2016 and expected to be completed in 2025. The ASEAN member countries preserve their value and norms highly even in the condition of integrated ASEAN, particularly in state’s sovereignty, resulting “ASEAN Way” of integration. This research is conducted to compare the ASEAN Way of integration and theoretical kinds of economic integration (Balassa, 1961). Using GTAP 9 Migration database with 2007 and 2011 base year, ...

  12. 76 FR 9641 - Delegation of Authority to Under Secretary for Research, Education, and Economics

    Science.gov (United States)

    2011-02-22

    ... Secretary for Research, Education, and Economics AGENCY: Office of the Secretary, USDA. ACTION: Final rule... Secretary for Research, Education, and Economics for requests for the United States Department of... for Research, Education, and Economics as USDA's authorized signatory for requests for all 2-year...

  13. Risk management in oil reservoir water-flooding under economic uncertainty

    NARCIS (Netherlands)

    Siraj, Muhammad; Van den Hof, Paul; Jansen, Jan Dirk

    2015-01-01

    Model-based economic optimization of the water-flooding process in oil reservoirs suffers from high levels of uncertainty. The achievable economic objective is highly uncertain due to the varying economic conditions and the limited knowledge of the reservoir model parameters. For improving

  14. A fuzzy stochastic framework for managing hydro-environmental and socio-economic interactions under uncertainty

    Science.gov (United States)

    Subagadis, Yohannes Hagos; Schütze, Niels; Grundmann, Jens

    2014-05-01

    An amplified interconnectedness between a hydro-environmental and socio-economic system brings about profound challenges of water management decision making. In this contribution, we present a fuzzy stochastic approach to solve a set of decision making problems, which involve hydrologically, environmentally, and socio-economically motivated criteria subjected to uncertainty and ambiguity. The proposed methodological framework combines objective and subjective criteria in a decision making procedure for obtaining an acceptable ranking in water resources management alternatives under different type of uncertainty (subjective/objective) and heterogeneous information (quantitative/qualitative) simultaneously. The first step of the proposed approach involves evaluating the performance of alternatives with respect to different types of criteria. The ratings of alternatives with respect to objective and subjective criteria are evaluated by simulation-based optimization and fuzzy linguistic quantifiers, respectively. Subjective and objective uncertainties related to the input information are handled through linking fuzziness and randomness together. Fuzzy decision making helps entail the linguistic uncertainty and a Monte Carlo simulation process is used to map stochastic uncertainty. With this framework, the overall performance of each alternative is calculated using an Order Weighted Averaging (OWA) aggregation operator accounting for decision makers' experience and opinions. Finally, ranking is achieved by conducting pair-wise comparison of management alternatives. This has been done on the basis of the risk defined by the probability of obtaining an acceptable ranking and mean difference in total performance for the pair of management alternatives. The proposed methodology is tested in a real-world hydrosystem, to find effective and robust intervention strategies for the management of a coastal aquifer system affected by saltwater intrusion due to excessive groundwater

  15. Long-term weight gain and economic impact in pigs castrated under local anaesthesia

    Directory of Open Access Journals (Sweden)

    F.G. Telles

    2016-12-01

    Full Text Available Castration is a controversial practice in swine production because in some countries is still performed without anaesthesia, and therefore causes intense suffering and stress to animals. This study investigated the effect of pre-surgical administration of local anaesthesia (LA on the growth performance of piglets until the end of the growth phase (102 days. Piglets aged 3 to 5 days were selected in pairs of similar weights and same age. They were originated from 22 litters. The groups were randomly assigned to one of two treatments. Castration was performed with (LA; n = 45 or without (NLA; n = 45 intra-testicular administration of 0.5 mL of 2% lidocaine plus adrenaline per testicle, administered by an automatic repeating vaccinator. Castration was performed 10 min later. Average daily weight gain and economic impact were evaluated between the intervals before castration until 21 (weaning phase, before castration until 60 (end of the initial nursery phase and before castration until 102 (growth phase days of age. Average daily weight gain data were analyzed by comparing the average daily weight gain between the weaning phase, 60 and 102 days of age versus the initial weight (pre-castration. At the end of the growing phase, animals treated with LA showed greater weight gain than animals castrated without anaesthesia. LA also showed improved cost:benefit ratio and theore might provide greater economic benefit under the conditions used in this study. Our findings have proved that castration with LA improves long-term weight gain of piglets.

  16. A tri-reference point theory of decision making under risk.

    Science.gov (United States)

    Wang, X T; Johnson, Joseph G

    2012-11-01

    The tri-reference point (TRP) theory takes into account minimum requirements (MR), the status quo (SQ), and goals (G) in decision making under risk. The 3 reference points demarcate risky outcomes and risk perception into 4 functional regions: success (expected value of x ≥ G), gain (SQ G > SQ. We present TRP assumptions and value functions and a mathematical formalization of the theory. We conducted empirical tests of crucial TRP predictions using both explicit and implicit reference points. We show that decision makers consider both G and MR and give greater weight to MR than G, indicating failure aversion (i.e., the disutility of a failure is greater than the utility of a success in the same task) in addition to loss aversion (i.e., the disutility of a loss is greater than the utility of the same amount of gain). Captured by a double-S shaped value function with 3 inflection points, risk preferences switched between risk seeking and risk aversion when the distribution of a gamble straddled a different reference point. The existence of MR (not G) significantly shifted choice preference toward risk aversion even when the outcome distribution of a gamble was well above the MR. Single reference point based models such as prospect theory cannot consistently account for these findings. The TRP theory provides simple guidelines for evaluating risky choices for individuals and organizational management. (PsycINFO Database Record (c) 2012 APA, all rights reserved).

  17. A Synthetic Fusion Rule for Salient Region Detection under the Framework of DS-Evidence Theory

    Directory of Open Access Journals (Sweden)

    Naeem Ayoub

    2018-05-01

    Full Text Available Saliency detection is one of the most valuable research topics in computer vision. It focuses on the detection of the most significant objects/regions in images and reduces the computational time cost of getting the desired information from salient regions. Local saliency detection or common pattern discovery schemes were actively used by the researchers to overcome the saliency detection problems. In this paper, we propose a bottom-up saliency fusion method by taking into consideration the importance of the DS-Evidence (Dempster–Shafer (DS theory. Firstly, we calculate saliency maps from different algorithms based on the pixels-level, patches-level and region-level methods. Secondly, we fuse the pixels based on the foreground and background information under the framework of DS-Evidence theory (evidence theory allows one to combine evidence from different sources and arrive at a degree of belief that takes into account all the available evidence. The development inclination of image saliency detection through DS-Evidence theory gives us better results for saliency prediction. Experiments are conducted on the publicly available four different datasets (MSRA, ECSSD, DUT-OMRON and PASCAL-S. Our saliency detection method performs well and shows prominent results as compared to the state-of-the-art algorithms.

  18. Rational adaptation under task and processing constraints: implications for testing theories of cognition and action.

    Science.gov (United States)

    Howes, Andrew; Lewis, Richard L; Vera, Alonso

    2009-10-01

    The authors assume that individuals adapt rationally to a utility function given constraints imposed by their cognitive architecture and the local task environment. This assumption underlies a new approach to modeling and understanding cognition-cognitively bounded rational analysis-that sharpens the predictive acuity of general, integrated theories of cognition and action. Such theories provide the necessary computational means to explain the flexible nature of human behavior but in doing so introduce extreme degrees of freedom in accounting for data. The new approach narrows the space of predicted behaviors through analysis of the payoff achieved by alternative strategies, rather than through fitting strategies and theoretical parameters to data. It extends and complements established approaches, including computational cognitive architectures, rational analysis, optimal motor control, bounded rationality, and signal detection theory. The authors illustrate the approach with a reanalysis of an existing account of psychological refractory period (PRP) dual-task performance and the development and analysis of a new theory of ordered dual-task responses. These analyses yield several novel results, including a new understanding of the role of strategic variation in existing accounts of PRP and the first predictive, quantitative account showing how the details of ordered dual-task phenomena emerge from the rational control of a cognitive system subject to the combined constraints of internal variance, motor interference, and a response selection bottleneck.

  19. Analysis of North Korea's Nuclear Tests under Prospect Theory

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Han Myung; Ryu, Jae Soo; Lee, Kwang Seok; Lee, Dong Hoon; Jun, Eunju; Kim, Mi Jin [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2013-10-15

    North Korea has chosen nuclear weapons as the means to protect its sovereignty. Despite international society's endeavors and sanctions to encourage North Korea to abandon its nuclear ambition, North Korea has repeatedly conducted nuclear testing. In this paper, the reason for North Korea's addiction to a nuclear arsenal is addressed within the framework of cognitive psychology. The prospect theory addresses an epistemological approach usually overlooked in rational choice theories. It provides useful implications why North Korea, being under a crisis situation has thrown out a stable choice but taken on a risky one such as nuclear testing. Under the viewpoint of prospect theory, nuclear tests by North Korea can be understood as follows: The first nuclear test in 2006 is seen as a trial to escape from loss areas such as financial sanctions and regime threats; the second test in 2009 was interpreted as a consequence of the strategy to recover losses by making a direct confrontation against the United States; and the third test in 2013 was understood as an attempt to strengthen internal solidarity after Kim Jong-eun inherited the dynasty, as well as to enhance bargaining power against the United States. Thus, it can be summarized that Pyongyang repeated its nuclear tests to escape from a negative domain and to settle into a positive one. In addition, in the future, North Korea may not be willing to readily give up its nuclear capabilities to ensure the survival of its own regime.

  20. Growth theory after Keynes, part II: 75 years of obstruction by the mainstream economics culture

    Directory of Open Access Journals (Sweden)

    Hendrik Van den Berg

    2014-05-01

    Full Text Available Part I of this essay explained the sequence of events that enabled the neoclassical paradigm to regain its dominant position in mainstream economics following serious challenges by ‘Keynesian’ economists. This second essay seeks to answer the question of why the economics profession was so willing to sustain the neoclassical paradigm in the face of the reality-based challenges by ‘Keynesian’ economists like Harrod and Domar. The answer is sought in the culture of economics, the history of science in general, and the study of power in the field of political economy. This article draws heavily on the work of the French sociologist Pierre Bourdieu, who divides culture into habitus (procedures and dispositions and doxa (more abstract beliefs and philosophies, in order to provide insight into how culture affects economic thinking. Bourdieu’s concept of symbolic violence helps to explain how a narrower neoclassical growth model was enthusiastically accepted as a replacement for the ‘Keynesian’ Harrod-Domar growth model. Financial and business interests clearly understood the power of culture and they used their accumulated wealth to support the neoliberal doxa and neoclassical habitus that would induce economists to willingly provide intellectual cover for policies that benefitted those financial and business interests. We conclude with a discussion on how the history of thought on economic development might have evolved if the Keynesian paradigm, and its dynamic Harrod-Domar model, had prevailed

  1. Ecosystem services and economic theory: integration for policy-relevant research.

    Science.gov (United States)

    Fisher, Brendan; Turner, Kerry; Zylstra, Matthew; Brouwer, Roy; de Groot, Rudolf; Farber, Stephen; Ferraro, Paul; Green, Rhys; Hadley, David; Harlow, Julian; Jefferiss, Paul; Kirkby, Chris; Morling, Paul; Mowatt, Shaun; Naidoo, Robin; Paavola, Jouni; Strassburg, Bernardo; Yu, Doug; Balmford, Andrew

    2008-12-01

    It has become essential in policy and decision-making circles to think about the economic benefits (in addition to moral and scientific motivations) humans derive from well-functioning ecosystems. The concept of ecosystem services has been developed to address this link between ecosystems and human welfare. Since policy decisions are often evaluated through cost-benefit assessments, an economic analysis can help make ecosystem service research operational. In this paper we provide some simple economic analyses to discuss key concepts involved in formalizing ecosystem service research. These include the distinction between services and benefits, understanding the importance of marginal ecosystem changes, formalizing the idea of a safe minimum standard for ecosystem service provision, and discussing how to capture the public benefits of ecosystem services. We discuss how the integration of economic concepts and ecosystem services can provide policy and decision makers with a fuller spectrum of information for making conservation-conversion trade-offs. We include the results from a survey of the literature and a questionnaire of researchers regarding how ecosystem service research can be integrated into the policy process. We feel this discussion of economic concepts will be a practical aid for ecosystem service research to become more immediately policy relevant.

  2. Collective Order within Family; An Axial Phenomenon regarding the Effect of Islamic Teachings on the ‎Economic Action of Family: A Study Based on the Grounded Theory

    Directory of Open Access Journals (Sweden)

    ‎ V. Arshadi

    2016-02-01

    Full Text Available The present article aims to identify the intermediate factors regarding the effect of Islamic teachings on family economic action through an interpretative and multifactorial approach. The method is qualitative and is based on grounded theory method”. Due to the interdisciplinary nature of the matter, a semi-structured interview with 16 experts on Islamic economy, Muslim consumer behavior, educational sciences, psychology and sociology and the issue of values and actions has served as the main research tool. The samples were selected through purposive sampling and snowball method, and interviews were conducted to the point of theoretical saturation. Findings of data analysis in this three steps show that factors such as the synergy of the high quality of transfer of teachings from formal and informal education institutes, high quality of the perception of teachings by family members, high quality of family income resources, and faith and belief in the accountability in the Hereafter can create collective order within family based on the subjective value of Islamic economic teaching. The collective order is influenced by "underlying" and "structural" factors and leads to discretion behavior. This paper is also innovative in terms of its profound look into the formation of economic behavior within the family.

  3. Endogenous growth and economic capacity: Theory and empirical evidence for the NAFTA countries

    Directory of Open Access Journals (Sweden)

    Ignacio Perrotini-Hernàndez

    2017-09-01

    Full Text Available he paper sheds light on the relevance of economic capacity utilisation, capital accumulation and effective demand for the endogeneity of the natural growth rate with respect to normal, depressive and expansive growth regimes. Apart from contributing to fill this theoretical gap, a new model is developed for estimating the elasticity of the natural growth rate, with a specific focus on Canada, Mexico and the United States, throughout the pre-NAFTA and post-NAFTA periods. It is shown that growth regimes are related to the utilisation of economic capacity, while the elasticities of the expansive and depressive natural rates of growth vis-à-vis the normal rate are related to effective demand. It is also found that the normal, depressive and expansive natural rates of growth decreased since the inception of NAFTA, due to the concomitant decline in the growth rate of economic capacity. JEL Classification: O47, O51, O54

  4. John Dewey’s theory of democracy and its links with the heterodox approach to economics.

    Directory of Open Access Journals (Sweden)

    Arturo Hermann

    2011-07-01

    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.

  5. The neuronal substrate of risky choice: an insight into the contributions of neuroimaging to the understanding of theories on decision making under risk.

    Science.gov (United States)

    Vorhold, Verena

    2008-04-01

    This chapter provides an overview of studies in the field of neuroscience that investigate some of the processes and concepts of risk perception, risky choice, and decision making under risk. First, early studies in the field of neuroscience addressing the diminished decision-making abilities in lesion patients are presented. A classical task in this research field is described along with its neural implications. After this, the underlying model, its hypotheses, and neuronal implications are discussed. Different aspects within risky decision making, such as the influence of memory, inhibition, motivation, and personality, on risky choice and the respective underlying neuronal substrate are described. After this, studies of risky decision making in healthy subjects are reviewed. A selection of studies shows that theories focusing on cognitive aspects only have to be enriched in order to allow for additional aspects within risky decision making (e.g., emotion). Next, the classical economic approaches and the development of theories incorporating further aspects within economical decision making and the underlying neuronal substrate will be presented. Finally, research in the field of neuroeconomics, focusing on the role of social decision making and evaluative judgment within risky decision making, is reviewed.

  6. Economic Rents and Legitimacy: Incorporating Elements of Organizational Analysis Institutional Theory to the Field of Business Strategy

    Directory of Open Access Journals (Sweden)

    Marco Aurélio Lima de Queiroz

    2007-01-01

    Full Text Available Are sources of economic rent, as defined by the prevalent business strategy paradigm, sufficient to attain and maintain superior returns? The perspective developed within the conceptual framework of the Institutional Theory may offer managers a contribution towards understanding the strategy process and its potentialities,particularly by stressing the leading role played by legitimacy, the influence of many institutional spheres, the isomorphic pressures, ceremonial behavior and decoupling, among other elements, that mainstream business strategy fails to address directly, but which may have a significant effect on firm performance. We advance thatthese elements must be accounted for in the pursuit and acquisition of economic rents, even if the ability to articulate them purposefully is constrained by rationality, agency conditions and the manager's social embeddedness.

  7. Gross domestic product growth rates as confined Lévy flights: Towards a unifying theory of economic growth rate fluctuations

    Science.gov (United States)

    Lera, Sandro Claudio; Sornette, Didier

    2018-01-01

    A model that combines economic growth rate fluctuations at the microscopic and macroscopic levels is presented. At the microscopic level, firms are growing at different rates while also being exposed to idiosyncratic shocks at the firm and sector levels. We describe such fluctuations as independent Lévy-stable fluctuations, varying over multiple orders of magnitude. These fluctuations are aggregated and measured at the macroscopic level in averaged economic output quantities such as GDP. A fundamental question is thereby to what extent individual firm size fluctuations can have a noticeable impact on the overall economy. We argue that this question can be answered by considering the Lévy fluctuations as embedded in a steep confining potential well, ensuring nonlinear mean-reversal behavior, without having to rely on microscopic details of the system. The steepness of the potential well directly controls the extent to which idiosyncratic shocks to firms and sectors are damped at the level of the economy. Additionally, the theory naturally accounts for business cycles, represented in terms of a bimodal economic output distribution and thus connects two so far unrelated fields in economics. By analyzing 200 years of U.S. gross domestic product growth rates, we find that the model is in good agreement with the data.

  8. Applied welfare economics with discrete choice models: implications of theory for empirical specification

    DEFF Research Database (Denmark)

    Batley, Richard; Ibáñez Rivas, Juan Nicolás

    2013-01-01

    in economics. Whilst some researchers were quick to see its practical potential (e.g. McFadden, 1968, 1975), it was not until the late 1970s and early 1980s that RUM was equipped with a reasonably comprehensive theoretical rationale in terms of the economics of consumption. An important tenet of this rationale......The apparatus of the Random Utility Model (RUM) first emerged in the early 1960s, with Marschak (1960) and Block and Marschak (1960) translating models originally developed for discriminant analysis in psychophysics (Thurstone, 1927) to the alternative domain of discrete choice analysis...

  9. Sense of control under uncertainty depends on people's childhood environment: a life history theory approach.

    Science.gov (United States)

    Mittal, Chiraag; Griskevicius, Vladas

    2014-10-01

    Past research found that environmental uncertainty leads people to behave differently depending on their childhood environment. For example, economic uncertainty leads people from poor childhoods to become more impulsive while leading people from wealthy childhoods to become less impulsive. Drawing on life history theory, we examine the psychological mechanism driving such diverging responses to uncertainty. Five experiments show that uncertainty alters people's sense of control over the environment. Exposure to uncertainty led people from poorer childhoods to have a significantly lower sense of control than those from wealthier childhoods. In addition, perceptions of control statistically mediated the effect of uncertainty on impulsive behavior. These studies contribute by demonstrating that sense of control is a psychological driver of behaviors associated with fast and slow life history strategies. We discuss the implications of this for theory and future research, including that environmental uncertainty might lead people who grew up poor to quit challenging tasks sooner than people who grew up wealthy. 2014 APA, all rights reserved

  10. Quantum economics

    Directory of Open Access Journals (Sweden)

    Vukotić Veselin

    2011-01-01

    Full Text Available The globalization is breaking-down the idea of national state, which was the base for the development of economic theory which is dominant today. Global economic crisis puts emphasis on limited possibilities of national governments in solving economic problems and general problems of society. Does it also mean that globalization and global economic crisis points out the need to think about new economic theory and new understanding of economics? In this paper I will argue that globalization reveals the need to change dominant economic paradigm - from traditional economic theory (mainstream with macroeconomic stability as the goal of economic policy, to the “quantum economics“, which is based on “economic quantum” and immanent to the increase of wealth (material and non-material of every individual in society and promoting set of values immanent to the wealth increase as the goal of economic policy. Practically the question is how we can use global market for our development!

  11. Economic feasibility of a wood biomass energy system under evolving demand

    Directory of Open Access Journals (Sweden)

    Giorgio Guariso

    2016-01-01

    Full Text Available In some European regions, particularly in mountainous areas, the demand for energy is evolving due to the decrease of resident population and the adoption of energy efficiency measures. Such changes are rapid enough to significantly impact on the planning process of wood-to-energy chains that are supposed to work for the following 20–25 years. The paper summarizes a study in an Italian pre-alpine district where some municipality shows a declining resident population together with increasing summer tourism. The planning of conversion plants to exploit the local availability of wood is formulated as a mathematical programming problem that maximizes the economic return of the investment, under time-varying parameters that account for the demand evolution. Such a demand is estimated from current trends, while biomass availability and transport is computed from the local cartography, through standard GIS operations. Altogether, the mixed integer optimization problem has 11 possible plant locations of different sizes and technologies taking their feedstock from about 200 parcels. The problem is solved with a commercial software package and shows that the optimal plan changes if one considers the foreseen evolution of the energy demand. As it always happen in this type of biomass-based plants, while the problem formulation is general and may be applied to other cases, the solution obtained is strongly dependent on local values and thus cannot be extrapolated to different contexts.

  12. European Union’s research and innovation performances under the impact of the economic crisis

    Directory of Open Access Journals (Sweden)

    Victor-Romeo Ionescu

    2014-05-01

    Full Text Available The paper deals with the analysis of the R&D and innovation activities’ impact on the sustainable economic development. There are two approaches of this phenomenon: national and regional. The main objective of the paper is to quantify and measure the disparities between the Member States and to define their trend until 2020. The analysis in the paper is built on three steps: a regression under ANOVA table in order to establish the R&D and innovation disparities across EU28, a cluster analysis used to group the Member States into distinct clusters and a forecast of the gross domestic expenditure on R&D as % of GDP during 2014-2020. The whole analysis and all its results are supported by the latest official statistic data and pertinent tables and diagrams. The main conclusion of the paper is that EU28 is not the best competitor on the global R&D and innovation market. Moreover, there are great disparities between the Member States and European regions connected to their innovative capacities. And the forecast for 2020 is not a positive one.

  13. Laparoscopic Cholecystectomy under Segmental Thoracic Spinal Anesthesia: A Feasible Economical Alternative.

    Science.gov (United States)

    Kejriwal, Aditya Kumar; Begum, Shaheen; Krishan, Gopal; Agrawal, Richa

    2017-01-01

    Laparoscopic surgery is normally performed under general anesthesia, but regional techniques like thoracic epidural and lumbar spinal have been emerging and found beneficial. We performed a clinical case study of segmental thoracic spinal anaesthesia in a healthy patient. We selected an ASA grade I patient undergoing elective laparoscopic cholecystectomy and gave spinal anesthetic in T10-11 interspace using 1 ml of bupivacaine 5 mg ml -1 mixed with 0.5 ml of fentanyl 50 μg ml -1 . Other drugs were only given (systemically) to manage patient anxiety, pain, nausea, hypotension, or pruritus during or after surgery. The patient was reviewed 2 days postoperatively in ward. The thoracic spinal anesthetia was performed easily in the patient. Some discomfort which was readily treated with 1mg midazolam and 20 mg ketamine intravenously. There was no neurological deficit and hemodynamic parameters were in normal range intra and post-operatively and recovery was uneventful. We used a narrow gauze (26G) spinal needle which minimized the trauma to the patient and the chances of PDPH, which was more if 16 or 18G epidural needle had been used and could have increased further if there have been accidental dura puncture. Also using spinal anesthesia was economical although it should be done cautiously as we are giving spinal anesthesia above the level of termination of spinal cord.

  14. Analyzing the Kyoto Protocol under the Marrakesh Accords. Economic efficiency and environmental effectiveness

    International Nuclear Information System (INIS)

    Den Elzen, Michel G.J.; De Moor, Andre P.G.

    2002-01-01

    This article evaluates the environmental effectiveness and economic implications of the Kyoto Protocol (KP) after the Bonn agreement and the Marrakesh Accords. We will break it down into several components that correspond with major steps in the international process: pre-COP 6 version of the KP, with unrestricted international emissions trading but without sinks; withdrawal of the USA; and decisions on sinks in Bonn and Marrakesh. The Marrakesh Accords bring Annex-I emissions in 2010 without the USA at 0.5% under base-year levels; this corresponds to nearly 2% above the 1990-levels. The US withdrawal has by far the greatest impact in reducing the environmental effectiveness of the KP, whereas the impact of the decision on sinks is comparatively small. The US withdrawal also substantially reduces the permit demand and permit prices will drop dramatically. Hot air becomes increasingly dominant and may threaten the viability of the Kyoto Mechanisms (KM), especially in lower baseline (business-as-usual (BaU)) scenarios. Therefore, banking of hot air is of absolute importance to improve the environmental effectiveness of the protocol at moderately higher costs, while enhancing the development of a viable emission trading market. A strategy of curtailing and banking permit supply is also in the interest of the dominant seller, Russia

  15. Biofuel production system with operation flexibility: Evaluation of economic and environmental performance under external disturbance

    Science.gov (United States)

    Kou, Nannan

    Biomass derived liquid hydrocarbon fuel (biofuel) has been accepted as an effective way to mitigate the reliance on petroleum and reduce the greenhouse gas emissions. An increasing demand for second generation biofuels, produced from ligno-cellulosic feedstock and compatible with current infrastructure and vehicle technologies, addresses two major challenges faced by the current US transportation sector: energy security and global warming. However, biofuel production is subject to internal disturbances (feedstock supply and commodity market) and external factors (energy market). The biofuel industry has also heavily relied on government subsidy during the early development stages. In this dissertation, I investigate how to improve the economic and environmental performance of biorefineries (and biofuel plant), as well as enhance its survivability under the external disturbances. Three types of disturbance are considered: (1) energy market fluctuation, (2) subsidy policy uncertainty, and (3) extreme weather conditions. All three factors are basically volatile, dynamic, and even unpredictable, which makes them difficult to model and have been largely ignored to date. Instead, biofuel industry and biofuel research are intensively focused on improving feedstock conversion efficiency and capital cost efficiency while assuming these advancements alone will successfully generate higher profit and thus foster the biofuel industry. The collapse of the largest corn ethanol biofuel company, Verasun Energy, in 2008 calls into question this efficiency-driven approach. A detailed analysis has revealed that although the corn ethanol plants operated by Verasun adopted the more efficient (i.e. higher ethanol yield per bushel of corn and lower capital cost) dry-mill technology, they could not maintain a fair profit margin under fluctuating market condition which made ethanol production unprofitable. This is because dry-mill plant converts a single type of biomass feedstock (corn

  16. Progress, influence and perspectives of emergy theories in China, in support of environmentally sound economic development and equitable trade

    International Nuclear Information System (INIS)

    Dong, Xiaobin; Ulgiati, Sergio; Yan, Maochao; Gao, Wangsheng

    2008-01-01

    Emergy Accounting and Synthesis, developed by Howard Odum in the 1980s, accounts for both the work of nature and that of humans as part of it in generating products and services. Since the 1990s, when Odum's system theories and emergy approach were introduced to China, a great attention was paid to them, since they appeared to Chinese scholars very important, comprehensive, and rich with application opportunities to China's economic development and environmental management. Until now more than 150 papers related to emergy theories were published in Chinese scientific journals, more than 20 dissertations presented in all Chinese Universities, and a large number of emergy-based papers were authored by Chinese scholars in international journals. Also, several reports dealing with emergy evaluation of different provinces of China were presented to local governments for decision-making. Emergy theories were applied to valuation of ecosystems and eco-industrial parks, as well as to studies of benefits/cost analysis and feasibility of ecological engineering. Meanwhile, a series of monographs and translated books related to emergy theories were published in China, some of which are used as text books in Chinese universities and institutes. Compared with the great potential of emergy application, there are many new fields that should be addressed in China, including: assessing the environmental impact of processes based on matching of high-quality and low-quality resources, establishing new frameworks and systems for environmental accounting, evaluating natural capital and services and applying research results to the process of decision-making, and finally studying the patterns and the available development options of China regional eco-economic systems. (author)

  17. Buy Low, Sell High: The Development of an Informal Theory of Economics.

    Science.gov (United States)

    Thompson, Douglas R.; Siegler, Robert S.

    2000-01-01

    Two experiments examined development of economic understanding among 5-, 7- and 9-year-olds. Found that most 5-year-olds understood the goal of acquiring desired goods, and most 7- and 9-year-olds also understood the goals of seeking profits, acquiring goods inexpensively, and competing successfully with other sellers. Results suggest that older…

  18. Toward a theory of responsible investing : On the economic foundations of corporate social responsibility

    NARCIS (Netherlands)

    Dam, Lammertjan; Scholtens, Lambertus

    Studies that link corporate social and financial performance usually find a positive association between the two. However, the literature does not establish a significant impact of socially responsible investing on stock market returns. We develop a coherent economic framework of responsible

  19. ADAPTING THE THEORY TO REALITY. THE TRIAD GLOBALIZATION-PROTECTIONISM-ECONOMIC PATRIOTISM

    Directory of Open Access Journals (Sweden)

    VOICULESCU SERBAN

    2009-05-01

    Full Text Available A science is adjusting and developing in time – on this trajectory the evolution of economic science is situated. The emergence of new concepts, as well as re-theorizing of some traditional concepts comes to support this viewpoint. In order to demonstra

  20. Revision Cycles for Economics Textbooks: An Application of the Theory of Durable Goods Monopoly

    Science.gov (United States)

    Li, Xin

    2011-01-01

    In this dissertation, I study economics textbook markets as an example of durable goods monopoly. Textbooks are protected by copyrights, and from a student's point of view, different textbooks are not good substitutes because students wish to use the textbook adopted by their instructors. Therefore sellers have market power. Textbooks can be…

  1. Applications of utility theory in the economic evaluation of health care

    NARCIS (Netherlands)

    H. Bleichrodt (Han)

    1996-01-01

    textabstractThis thesis studies the applicability of quality-adjusted life years (QALYs) and other utility based outcome measures in medical decision making and health economics. The main conclusion will be that utility based measures are more useful to model health related behaviour than has

  2. Adding geography to the new economic geography : bridging the gap between theory and empirics

    NARCIS (Netherlands)

    Bosker, E.M.; Brakman, S.; Garretsen, J.H.; Schramm, M.

    2010-01-01

    For reasons of analytical tractability, new economic geography (NEG) models treat geography in a very simple way, focusing on stylized 'unidimensional' geography structures (e.g. an equidistant or line economy). All the well-known NEG results are based on these simple geography structures. When

  3. Regional Investment Policy Under The Impact Of Budget Limitations And Economic Sanctions

    OpenAIRE

    Avramenko, Yelena S.; Vlasov, Semyon V.; Lukyanov, Sergey A.; Temkina, Irina M.

    2018-01-01

    This article presents the results of research on the impact which budget limitations and economic sanctions have had on regional investment policy External sanctions and sluggish economic growth have affected the social and economic development of the region. Relying on the results of comparative and statistical analysis, the article demonstrates the need for altering the focus of current investment policy from quantitative growth to qualitative enhancement. The article analyses a new trend i...

  4. 76 FR 68126 - Office of the Under Secretary, Research, Education, and Economics; Notice of the Advisory...

    Science.gov (United States)

    2011-11-03

    ... Secretary, Research, Education, and Economics; Notice of the Advisory Committee on Biotechnology and 21st Century Agriculture Meeting AGENCY: Agricultural Research Service, USDA. ACTION: Notice of meetings...

  5. Ugly Facts and Fancy Theories: Children and Youth during the Transition. Innocenti Occasional Papers Economic Policy Series, Number 47. Special Subseries: Economies in Transition.

    Science.gov (United States)

    Cornia, Giovanni Andrea

    This is a report sponsored by UNICEF on the effects of economic and political transition in Europe, particularly Eastern Europe, on young children and adolescents. The economic theories and changes in labor and markets which have characterized European transitions in the past few years have paid little attention to issues of poverty and child…

  6. A theory of economic growth with material/energy resources and dematerialization. Interaction of three growth mechanisms

    Energy Technology Data Exchange (ETDEWEB)

    Ayres, Robert U. [Department of Physical Resource Theory, Chalmers Institute, Gothenburg (Sweden); Van den Bergh, Jeroen C.J.M. [Department of Spatial Economics, Faculty of Economics and Business Administration, and Institute for Environmental Studies, Free University, De Boelelaan 1105, Amsterdam 1081 HV (Netherlands)

    2005-10-05

    The nature of energy and material resources in a non-optimizing growth theory framework is clarified. This involves two modifications of the conventional theory. Firstly, multiple feedback mechanisms or 'growth engines' are identified, such that the impact of the cost of production through demand on growth is accounted for. Secondly, a production function distinguishes between resource use, technical efficiency, and value creation. The resulting model is analytically solved under the condition of a constant growth rate. Given model complexity, numerical experiments are performed as well, providing relevant insights to the academic and political debates on 'environmental Kuznets curves' and 'dematerialization.'.

  7. Benefits of economic criteria for water scarcity management under global changes: insights from a large-scale hydroeconomic framework

    Science.gov (United States)

    Neverre, Noémie; Dumas, Patrice; Nassopoulos, Hypatia

    2016-04-01

    Global changes are expected to exacerbate water scarcity issues in the Mediterranean region in the next decades. In this work, we investigate the impacts of reservoirs operation rules based on an economic criterion. We examine whether can they help reduce the costs of water scarcity, and whether they become more relevant under future climatic and socioeconomic conditions. We develop an original hydroeconomic model able to compare future water supply and demand on a large scale, while representing river basin heterogeneity. On the demand side, we focus on the two main sectors of water use: the irrigation and domestic sectors. Demands are projected in terms of both quantity and economic value. Irrigation requirements are computed for 12 types of crops, at the 0.5° spatial resolution, under future climatic conditions (A1B scenario). The computation of the economic benefits of irrigation water is based on a yield comparison approach between rainfed and irrigated crops. For the domestic sector, we project the combined effects of demographic growth, economic development and water cost evolution on future demands. The economic value of domestic water is defined as the economic surplus. On the supply side, we evaluate the impacts of climate change on water inflows to the reservoirs. Operating rules of the reservoirs are set up using a parameterisation-simulation-optimisation approach. The objective is to maximise water benefits. We introduce prudential parametric rules in order to take into account spatial and temporal trade-offs. The methodology is applied to Algeria at the 2050 horizon. Overall, our results show that the supply-demand imbalance and its costs will increase in most basins under future climatic and socioeconomic conditions. Our results suggest that the benefits of operating rules based on economic criteria are not unequivocally increased with global changes: in some basins the positive impact of economic prioritisation is higher under future conditions

  8. Wake meandering under non-neutral atmospheric stability conditions – theory and facts

    DEFF Research Database (Denmark)

    Larsen, Gunner Chr.; Machefaux, Ewan; Chougule, Abhijit S.

    2015-01-01

    This paper deals with modelling of wake dynamics under influence of atmospheric stability conditions different from neutral. In particular, it is investigated how the basic split in turbulent scales, on which the Dynamic Wake Meandering model is based, can be utilized to include atmospheric...... stability effects in this model. This is done partly by analyzing a large number of turbulence spectra obtained from sonic measurements, partly by analyzing dedicated full-scale LiDAR measurements from which wake dynamics can be directly resolved. The theory behind generalizing the Dynamic Wake Meandering...

  9. The theory of the interaction of atmospheric aerosol with underlying surface

    International Nuclear Information System (INIS)

    Buikov, M.V.

    1993-01-01

    The interaction of wind with underlying surfaces through resuspension makes a great contribution to the total amount of atmospheric aerosols. The dry deposition process results in cleaning of the atmosphere and contamination of near-surface air layers of soil and vegetation. This paper examines the theory leading to an exact solution of the problem of turbulent transportation of pollution taking into account resuspension and dry-deposition. This may be useful for the interpretation of observational data and for the improvement of calculation methods to describe aerosol exchange at surfaces in air. (author)

  10. Non-isothermal theory of thermoelastic shells under large deformations. Pt. 1

    International Nuclear Information System (INIS)

    Malmberg, T.

    1988-09-01

    The (well known) three-dimensional theory of nonlinear thermoelastic bodies is delineated; the derivation of the three-dimensional field equations is done on the basis of the two basic thermodynamic principles in integral form and their form-invariance under observer transformations. After summarizing essential results of the differential geometry of surfaces the form-invariance of the energy balance equation (integrated across the shell thickness) and the energy condition are evaluated. It is found that still some freedom is present in the choice of the additional actions. (orig./DG) [de

  11. Never the Twain Shall Meet? A Critical Perspective on Cultural Limits Between Internal Continental Dogmatism and Consequential US-Style Law and Economics Theory

    NARCIS (Netherlands)

    Purnhagen, K.

    2014-01-01

    Why could law and economics theory (hereinafter L&E) develop to become the most prominent theory in US legal scholarship, while still playing only a minor role in Europe? As this article is also meant as a gloss, as “a propagandist tracet”,1 I herein make use of my academic freedom to write

  12. Doubly self-consistent field theory of grafted polymers under simple shear in steady state

    International Nuclear Information System (INIS)

    Suo, Tongchuan; Whitmore, Mark D.

    2014-01-01

    We present a generalization of the numerical self-consistent mean-field theory of polymers to the case of grafted polymers under simple shear. The general theoretical framework is presented, and then applied to three different chain models: rods, Gaussian chains, and finitely extensible nonlinear elastic (FENE) chains. The approach is self-consistent at two levels. First, for any flow field, the polymer density profile and effective potential are calculated self-consistently in a manner similar to the usual self-consistent field theory of polymers, except that the calculation is inherently two-dimensional even for a laterally homogeneous system. Second, through the use of a modified Brinkman equation, the flow field and the polymer profile are made self-consistent with respect to each other. For all chain models, we find that reasonable levels of shear cause the chains to tilt, but it has very little effect on the overall thickness of the polymer layer, causing a small decrease for rods, and an increase of no more than a few percent for the Gaussian and FENE chains. Using the FENE model, we also probe the individual bond lengths, bond correlations, and bond angles along the chains, the effects of the shear on them, and the solvent and bonded stress profiles. We find that the approximations needed within the theory for the Brinkman equation affect the bonded stress, but none of the other quantities

  13. Multi-scale connectivity and graph theory highlight critical areas for conservation under climate change

    Science.gov (United States)

    Dilts, Thomas E.; Weisberg, Peter J.; Leitner, Phillip; Matocq, Marjorie D.; Inman, Richard D.; Nussear, Ken E.; Esque, Todd C.

    2016-01-01

    Conservation planning and biodiversity management require information on landscape connectivity across a range of spatial scales from individual home ranges to large regions. Reduction in landscape connectivity due changes in land-use or development is expected to act synergistically with alterations to habitat mosaic configuration arising from climate change. We illustrate a multi-scale connectivity framework to aid habitat conservation prioritization in the context of changing land use and climate. Our approach, which builds upon the strengths of multiple landscape connectivity methods including graph theory, circuit theory and least-cost path analysis, is here applied to the conservation planning requirements of the Mohave ground squirrel. The distribution of this California threatened species, as for numerous other desert species, overlaps with the proposed placement of several utility-scale renewable energy developments in the American Southwest. Our approach uses information derived at three spatial scales to forecast potential changes in habitat connectivity under various scenarios of energy development and climate change. By disentangling the potential effects of habitat loss and fragmentation across multiple scales, we identify priority conservation areas for both core habitat and critical corridor or stepping stone habitats. This approach is a first step toward applying graph theory to analyze habitat connectivity for species with continuously-distributed habitat, and should be applicable across a broad range of taxa.

  14. Multiscale connectivity and graph theory highlight critical areas for conservation under climate change.

    Science.gov (United States)

    Dilt, Thomas E; Weisberg, Peter J; Leitner, Philip; Matocq, Marjorie D; Inman, Richard D; Nussear, Kenneth E; Esque, Todd C

    2016-06-01

    Conservation planning and biodiversity management require information on landscape connectivity across a range of spatial scales from individual home ranges to large regions. Reduction in landscape connectivity due changes in land use or development is expected to act synergistically with alterations to habitat mosaic configuration arising from climate change. We illustrate a multiscale connectivity framework to aid habitat conservation prioritization in the context of changing land use and climate. Our approach, which builds upon the strengths of multiple landscape connectivity methods, including graph theory, circuit theory, and least-cost path analysis, is here applied to the conservation planning requirements of the Mohave ground squirrel. The distribution of this threatened Californian species, as for numerous other desert species, overlaps with the proposed placement of several utility-scale renewable energy developments in the American southwest. Our approach uses information derived at three spatial scales to forecast potential changes in habitat connectivity under various scenarios of energy development and climate change. By disentangling the potential effects of habitat loss and fragmentation across multiple scales, we identify priority conservation areas for both core habitat and critical corridor or stepping stone habitats. This approach is a first step toward applying graph theory to analyze habitat connectivity for species with continuously distributed habitat and should be applicable across a broad range of taxa.

  15. Economically optimal timing for crop disease control under uncertainty: an options approach

    NARCIS (Netherlands)

    Ndeffo Mbah, M.L.; Forster, G.; Wesseler, J.H.H.; Gilligan, C.A.

    2010-01-01

    Severe large-scale disease and pest infestations in agricultural regions can cause significant economic damage. Understanding if and when disease control measures should be taken in the presence of risk and uncertainty is a key issue. We develop a framework to examine the economically optimal timing

  16. The radical right parties under the economic crisis: The Greek case

    NARCIS (Netherlands)

    Georgiadou, V.; Kafe, A.; Nezi, Roula

    2012-01-01

    Nowadays a new wave of socio-political disenchantment is emerging in most European countries due to the economic crisis. Exceptional examples among them are protest movements in Spain, Portugal, Greece, or even the UK. In the era of the economic crisis do the populist radical right parties continue

  17. Working under pressure: economic recession and third sector development in Europe

    NARCIS (Netherlands)

    Pape, U.D.; Chaves-Ávila, R.; Pahl, J.B.; Petrella, F.; Pielinski, B.; Savall-Morera, T.

    2016-01-01

    The context conditions for third sector organizations (TSOs) in Europe have significantly changed as a result of the global economic crisis, including decreasing levels of public funding and changing modes of relations with the state. The effect of economic recession, however, varies across Europe.

  18. Minimum Wage and Maximum Hours Standards Under the Fair Labor Standards Act. Economic Effects Studies.

    Science.gov (United States)

    Wage and Labor Standards Administration (DOL), Washington, DC.

    This report describes the 1966 amendments to the Fair Labor Standards Act and summarizes the findings of three 1969 studies of the economic effects of these amendments. The studies found that economic growth continued through the third phase of the amendments, beginning February 1, 1969, despite increased wage and hours restrictions for recently…

  19. Socio economic gender inequality in Nigeria: A review of theory and measurements

    OpenAIRE

    Odozi, John C.

    2012-01-01

    The aim of this article is to synthesize the various views of gender inequality and various indicators used to measure it. It argues that women lag behind men in most indicators of socio-economic development and they constitute the majority of the poor, the unemployed and the socially disadvantaged. Productive differences as espoused by the traditional neoclassical as well as the institutions and markets advancement are not sufficient to explain gender inequality. The political economy view o...

  20. The importance of economic theory in the regulation of the economy

    Directory of Open Access Journals (Sweden)

    Nusratullin Vil Kasimovich

    2011-06-01

    Full Text Available The author proposes to pay more attention to the scientific results of local authors, their recommendations, including its development in the framework of non-equilibrium economics. In particular, he stressed the importance of the ideological interpretation of nonequilibrium profits and justify its source - intelligence and its carriers; formulated to them the law of large numbers, which proves that there is no special law of value separately for rent and nerentnyh industries etc.

  1. Political competition, economic reform and growth : theory and evidence from transition countries

    OpenAIRE

    Pavletic, Ivan

    2010-01-01

    Which political and institutional factors trigger reforms that enable the poor to benefit from the process of economic growth? How can the incentives of policy makers be influenced in order to achieve such a dynamic? These are the questions this study seeks to address by examining the transition process in post-communist countries. The author argues that political competition within an accepted and respected institutional environment has been a driving force in shaping the direction and succe...

  2. Economics of Water Quality Protection from Nonpoint Sources: Theory and Practice

    OpenAIRE

    Ribaudo, Marc; Horan, Richard D.; Smith, Mark E.

    1999-01-01

    Water quality is a major environmental issue. Pollution from nonpoint sources is the single largest remaining source of water quality impairments in the United States. Agriculture is a major source of several nonpoint-source pollutants, including nutrients, sediment, pesticides, and salts. Agricultural nonpoint pollution reduction policies can be designed to induce producers to change their production practices in ways that improve the environmental and related economic consequences of produc...

  3. From accounting convergence to accounting harmonization under the auspices of economic globalization

    Directory of Open Access Journals (Sweden)

    Ana-Maria Mărculescu

    2012-01-01

    Full Text Available In the current international economic context is urgently needed more than ever a transparency of business information. This situation is caused by the fact that economic decisions are based on accounting information, and knowing the regional and international accounting rules is crucial to have a correct interpretation of the business connections in the world.The misleading barriers between the independent economic systems, local, national and others the same, have had throughout the history significant implications on the economic policies adopted in each of these systems. Liberalization of capital movements and workforce provides the premises of exploitation the existing opportunities (employment, savings, investments, so. in the technological and economic environments but also the fiscal and monetary models.

  4. Speed maintenance under cognitive load - Implications for theories of driver behaviour.

    Science.gov (United States)

    Lewis-Evans, Ben; de Waard, Dick; Brookhuis, Karel A

    2011-07-01

    No theory of driver behaviour has yet managed to achieve widespread acceptance and use in the field of Traffic Psychology, partly due to the difficulty in testing many of the theories. However, one class of theories, the motivational theories, can be usefully split into two groups and the differences between them can then be examined. One group posits the constant monitoring and targeting of a certain subjective variable, often risk, as the controlling factor in driving. The other group however states that subjective variables such as risk are only relevant once a certain threshold has been passed. In this study we aimed to examine this difference by manipulating both speed of travel and the amount of cognitive load participants were under. Participants were asked to initially drive at their preferred speed for 1min in a driving simulator. Participant's speed was then automatically increased or decreased by 10, 20 30km/h or left unchanged. Participants were then required to maintain the new speed for 1min. After this 1min the speed was again automatically changed and had to be maintained for one more minute, but this time participants also carried out a secondary mental arithmetic task. Finally participants were asked to again drive for another 1min at their preferred speed. This procedure was repeated seven times, once for each speed manipulation; -30, -20, -10, +0, +10, +20 and +30km/h. After each 1min interval verbal ratings of task difficulty, effort, feeling of risk and the typicality of the speed were collected. The results show a threshold effect in ratings of task difficulty, effort and feeling of risk, with no significant difference given between the ratings during the baseline period and the experimentally decreased speed periods until after participant's preferred speed of travel had been exceeded. Furthermore, even when under cognitive load the threshold relationship was still apparent, if diminished. Finally it appears that when under cognitive load

  5. A physical detail relevant to the Savic-Kasanin theory of behaviour of materials under high pressure

    International Nuclear Information System (INIS)

    Celebonovic, V.

    1982-01-01

    P. Savic and R. Kasanin have proposed a theory of behaviour of materials under high pressure (Savic, 1981). Their theory can be applied to the explanation of the internal structures of planets and stars. The author proposes, a simple method for the calculation of the internal temperatures of the terrestrial planets. All the parameters needed for the application of the method can be obtained from the SK theory. (Auth.)

  6. Money Creation, Employment and Economic Stability: The Monetary Theory of Unemployment and Inflation

    OpenAIRE

    Alain Parguez

    2008-01-01

    This paper by building on the general theory of the monetary circuit, proves that money-as a pure bank credit liability-exists to overcome constraints on required expenditures by firms, household and mainly the State. From this perspective the paper derives the employment function in the modern monetary economy. Thereby it is explained that full employment policy is both always possible and required. It is proven that this conclusion holds in a perfectly open economy. Ultimately it is explain...

  7. Empiricism, ethics and orthodox economic theory: what is the appropriate basis for decision-making in the health sector?

    Science.gov (United States)

    Richardson, Jeff; McKie, John

    2005-01-01

    Economics is commonly defined in terms of the relationship between people's unlimited wants and society's scarce resources. The definition implies a central role for an understanding of what people want, i.e. their objectives. This, in turn, suggests an important role for both empirical research into people's objectives and debate about the acceptability of the objectives. In contrast with this expectation, economics has avoided these issues by the adoption of an orthodoxy that imposes objectives. However evidence suggests, at least in the health sector, that people do not have the simple objectives assumed by economic theory. Amartya Sen has advocated a shift from a focus on "utility" to a focus on "capabilities" and "functionings" as a way of overcoming the shortcomings of welfarism. However, the practicality of Sen's account is threatened by the range of possible "functionings", by the lack of guidance about how they should be weighted, and by suspicions that they do not capture the full range of objectives people appear to value. We argue that "empirical ethics", an emerging approach in the health sector, provides important lessons on overcoming these problems. Moreover, it is an ethically defensible methodology, and yields practical results that can assist policy makers in the allocation of resources.

  8. Exergo-Economic Analysis of an Experimental Aircraft Turboprop Engine Under Low Torque Condition

    Science.gov (United States)

    Atilgan, Ramazan; Turan, Onder; Aydin, Hakan

    Exergo-economic analysis is an unique combination of exergy analysis and cost analysis conducted at the component level. In exergo-economic analysis, cost of each exergy stream is determined. Inlet and outlet exergy streams of the each component are associated to a monetary cost. This is essential to detect cost-ineffective processes and identify technical options which could improve the cost effectiveness of the overall energy system. In this study, exergo-economic analysis is applied to an aircraft turboprop engine. Analysis is based on experimental values at low torque condition (240 N m). Main components of investigated turboprop engine are the compressor, the combustor, the gas generator turbine, the free power turbine and the exhaust. Cost balance equations have been formed for all components individually and exergo-economic parameters including cost rates and unit exergy costs have been calculated for each component.

  9. Money creation, employment and economic stability: The monetary theory of unemployment and inflation

    Directory of Open Access Journals (Sweden)

    Parguez Alain

    2008-01-01

    Full Text Available This paper by building on the general theory of the monetary circuit, proves that money-as a pure bank credit liability-exists to overcome constraints on required expenditures by firms, household and mainly the State. From this perspective the paper derives the employment function in the modern monetary economy. Thereby it is explained that full employment policy is both always possible and required. It is proven that this conclusion holds in a perfectly open economy. Ultimately it is explained that there is no trade-off between full employment and sustainable price stability.

  10. Economic Determinants of Foreign Direct Investment in Armenia, Kyrgyz Republic and Turkmenistan: Theory and Evidence

    Directory of Open Access Journals (Sweden)

    Muhammad AZAM

    2010-11-01

    Full Text Available The aim of the present study is to investigate the effects of different economic determinants on foreign direct investment (FDI for three countries selected from Central Asia namely Armenia, Kyrgyz Republic and Turkmenistan. Secondary data for the period from 1991 to 2009 taken from World Development Indicator (various issues have been utilized. Simple econometric model in log form and the least squares technique have been used. Result found indicates positive effects of market size, official development assistance on FDI and negative effect of inflation on FDI. However, in case of Armenia, the effect of official development assistance on FDI has been found insignificant and such as in case of Kyrgyz Republic, the effect of inflation on FDI has been found insignificant with expected negative sign. Thus, findings of the study recommend that market size and official development assistance needs to be encouraged and inflation needs to be managed in order to achieve higher level of FDI and accelerate the process of economic development.

  11. PROVISION FOR ECONOMIC STABILITY OF CONSTRUCTION ENTERPRISES UNDER CONDITIONS OF UNSTABLE RUSSIAN ECONOMY

    Directory of Open Access Journals (Sweden)

    M. A. Kaminsky

    2012-01-01

    Full Text Available Construction enterprise economic stability is determined as condition at which there is most coordinated interaction of all activity components(financing, manufacturing, human resources, marketing, investment and management. Construction enterprise stability enhancing may beachieved through the implementation of adaptation programs. A mechanism of the impact on economic stability of individual components is described which makes it possible to increase overall stability of the construction company in different situations.

  12. Understanding of Grassland Ecosystems under Climate Change and Economic Development Pressures in the Mongolia Plateau

    Science.gov (United States)

    Qi, J.; Chen, J.; Shan, P.; Pan, X.; Wei, Y.; Wang, M.; Xin, X.

    2011-12-01

    The land use and land cover change, especially in the form of grassland degradation, in the Mongolian Plateau, exhibited a unique spatio-temporal pattern that is a characteristic of a mixed stress from economic development and climate change of the region. The social dimension of the region played a key role in shaping the landscape and land use change, including the cultural clashes with economic development, conflicts between indigenous people and business ventures, and exogenous international influences. Various research projects have been conducted in the region to focus on physical degradation of grasslands and/or on economic development but there is a lack of understanding how the social and economic dimensions interact with grassland ecosystems and changes. In this talk, a synthesis report was made based on the most recent workshop held in Hohhot, Inner Mongolia, of China, that specifically focused on climate change and grassland ecosystems. The report analyzed the degree of grassland degradation, its climate and social drivers, and coupling nature of economic development and conservation of traditional grassland values. The goal is to fully understand the socio-ecological-economic interactions that together shape the trajectory of the grassland ecosystems in the Mongolia Plateau.

  13. Applying a System Dynamics Approach for Modeling Groundwater Dynamics to Depletion under Different Economical and Climate Change Scenarios

    Directory of Open Access Journals (Sweden)

    Hamid Balali

    2015-09-01

    Full Text Available In the recent decades, due to many different factors, including climate change effects towards be warming and lower precipitation, as well as some structural policies such as more intensive harvesting of groundwater and low price of irrigation water, the level of groundwater has decreased in most plains of Iran. The objective of this study is to model groundwater dynamics to depletion under different economic policies and climate change by using a system dynamics approach. For this purpose a dynamic hydro-economic model which simultaneously simulates the farmer’s economic behavior, groundwater aquifer dynamics, studied area climatology factors and government economical policies related to groundwater, is developed using STELLA 10.0.6. The vulnerability of groundwater balance is forecasted under three scenarios of climate including the Dry, Nor and Wet and also, different scenarios of irrigation water and energy pricing policies. Results show that implementation of some economic policies on irrigation water and energy pricing can significantly affect on groundwater exploitation and its volume balance. By increasing of irrigation water price along with energy price, exploitation of groundwater will improve, in so far as in scenarios S15 and S16, studied area’s aquifer groundwater balance is positive at the end of planning horizon, even in Dry condition of precipitation. Also, results indicate that climate change can affect groundwater recharge. It can generally be expected that increases in precipitation would produce greater aquifer recharge rates.

  14. Multi-objective dynamic economic emission dispatch of electric power generation integrated with game theory based demand response programs

    International Nuclear Information System (INIS)

    Nwulu, Nnamdi I.; Xia, Xiaohua

    2015-01-01

    Highlights: • In this work, a game theory based DR program is integrated into the DEED problem. • Objectives are to minimize fuel and emissions costs and maximize the DR benefit. • Optimal generator output, customer load and customer incentive are determined. • Developed model is tested with two different scenarios. • Model provides superior results than independent optimization of DR or DEED. - Abstract: The dynamic economic emission dispatch (DEED) of electric power generation is a multi-objective mathematical optimization problem with two objective functions. The first objective is to minimize all the fuel costs of the generators in the power system, whilst the second objective seeks to minimize the emissions cost. Both objective functions are subject to constraints such as load demand constraint, ramp rate constraint, amongst other constraints. In this work, we integrate a game theory based demand response program into the DEED problem. The game theory based demand response program determines the optimal hourly incentive to be offered to customers who sign up for load curtailment. The game theory model has in built mechanisms to ensure that the incentive offered the customers is greater than the cost of interruption while simultaneously being beneficial to the utility. The combined DEED and game theoretic demand response model presented in this work, minimizes fuel and emissions costs and simultaneously determines the optimal incentive and load curtailment customers have to perform for maximal power system relief. The developed model is tested on two test systems with industrial customers and obtained results indicate the practical benefits of the proposed model

  15. Theory of sampling. A mini seminar under the NKS project SAMPSTRAT

    International Nuclear Information System (INIS)

    Holm, E.; Oestergaard, L.F.; Sidhu, R.

    2006-04-01

    At an emergency situation a large number of matrixes can be contaminated and samples of these different matrixes will be collected. These sample matrixes might be or often certainly are heterogeneous and in general more unevenly distributed than from nuclear test fallout or even the Chernobyl accident. On basis of the reported data conclusions and remedial actions causing social and economical costs for the society are taken. Therefore the number of samples from each site, their size and further homogenizations is of great importance. In the case of an emergency situation the activities are generally high and the errors due to counting statistics are small. We could also imagine a situation when a certain nuclear enterprise/activity has to close down or being prosecuted, based on sampling and analysis, for not following directives of discarding radioactivity in the environment. We therefore organized a seminar focusing on the above mentioned problems. The seminar covered several important topics such as an introduction to Theory of sampling (TOS), Lot heterogeneity and sampling in practice, Statistics for sampling in analytical chemistry, Representative mass reduction in sampling. Case studies were presented such as Sampling of heterogeneous bottom ash from municipal waste-incineration plants and Sampling and inventories at Thule Greenland, which also illustrated the difficulties with Plutonium Inventory Calculations in Sediments when Hot Particles were present. (au)

  16. Investigating water productivity and economic efficiency of wheat-crop under different sowing methods

    International Nuclear Information System (INIS)

    Mirani, A.A.; Dahri, Z.H.

    2011-01-01

    This study was conducted at PARC's research station Kala Shah Kaku, Lahore, in order to calculate the water productivity and economic efficiency of wheat-crop under different sowing methods in a combined harvested paddy filed. The sowing methods were direct drilling with FMI Seeder, Zero tillage and conventional method. Data were collected during 2008-09. Wheat-yield was 2750 kg/ha, 2665 kg/ha and 2610 kg/ha for direct drilling with F MI Seeder, Zero tillage and conventional method, respectively. The direct drilling in heavy residue gave 5.4 % more yield than the conventional method and 3.2 % more yield than zero tillage. The zero tillage ensured 2.1% more yield than the conventional method. The net water applied as 323, 354, and 380 mm for direct drilling with FMI seeder, zero tillage and conventional methods respectively against the potential crop evapotranspiration of 383 mm. This indicates that the direct drilling of wheat-crop in heave rice stubbles saves 15% irrigation water as compared to conventional method and 8.8% over zero tillage. The zero tillage method saves 6.8 % of irrigation water over the conventional method. The water productivity was found to be 0.851 kg/m3. 0.753 kg/m/sup 3/ and 0.687 kg/m/sup 3/ for direct drilling with FMI Seeder, Zero tillage and conventional method respectively. This indicates that the direct drilling ensures 23.9% increase in water productivity over conventional method and 13.01% over zero tillage. The zero tillage gave 9.6% more water productivity than the conventional method. The costs of production for the three sowing methods were Rs. 39123/ha, Rs.43737/ha and Rs. 53047/ha for direct drilling, zero tillage and conventional method respectively. This indicates an overall saving of Rs. 13924/ha (26.2 %) by the direct drilling method as compared to the conventional method and Rs. 4613/ha (10.5%) over zero tillage method. The zero tillage saves Rs. 9319/ha (17.6 %) over the conventional method. Thus, the resource

  17. The Practical Application of Uav-Based Photogrammetry Under Economic Aspects

    Science.gov (United States)

    Sauerbier, M.; Siegrist, E.; Eisenbeiss, H.; Demir, N.

    2011-09-01

    Nowadays, small size UAVs (Unmanned Aerial Vehicles) have reached a level of practical reliability and functionality that enables this technology to enter the geomatics market as an additional platform for spatial data acquisition. Though one could imagine a wide variety of interesting sensors to be mounted on such a device, here we will focus on photogrammetric applications using digital cameras. In praxis, UAV-based photogrammetry will only be accepted if it a) provides the required accuracy and an additional value and b) if it is competitive in terms of economic application compared to other measurement technologies. While a) was already proven by the scientific community and results were published comprehensively during the last decade, b) still has to be verified under real conditions. For this purpose, a test data set representing a realistic scenario provided by ETH Zurich was used to investigate cost effectiveness and to identify weak points in the processing chain that require further development. Our investigations are limited to UAVs carrying digital consumer cameras, for larger UAVs equipped with medium format cameras the situation has to be considered as significantly different. Image data was acquired during flights using a microdrones MD4-1000 quadrocopter equipped with an Olympus PE-1 digital compact camera. From these images, a subset of 5 images was selected for processing in order to register the effort of time required for the whole production chain of photogrammetric products. We see the potential of mini UAV-based photogrammetry mainly in smaller areas, up to a size of ca. 100 hectares. Larger areas can be efficiently covered by small airplanes with few images, reducing processing effort drastically. In case of smaller areas of a few hectares only, it depends more on the products required. UAVs can be an enhancement or alternative to GNSS measurements, terrestrial laser scanning and ground based photogrammetry. We selected the above mentioned

  18. Operation of hydropower generation systems in the Alps under future climate and socio-economic drivers

    Science.gov (United States)

    Anghileri, Daniela; Castelletti, Andrea; Burlando, Paolo

    2015-04-01

    describes the behavior of hydropower operators. This integrated model allows to quantitatively explore possible trajectories of future evolution of the hydropower systems under the combined effect of climate and socio-economic drivers. In a multi-objective perspective, the model can test how different hydropower operation strategies perform in terms of power production, reliability and flexibility of supply, profitability of operation, and ecosystem conservation. This contribution presents the methodological framework designed to formulate the integrated model, its expected outcomes, and some preliminary results on a pilot study.

  19. Economic policy optimization based on both one stochastic model and the parametric control theory

    Science.gov (United States)

    Ashimov, Abdykappar; Borovskiy, Yuriy; Onalbekov, Mukhit

    2016-06-01

    A nonlinear dynamic stochastic general equilibrium model with financial frictions is developed to describe two interacting national economies in the environment of the rest of the world. Parameters of nonlinear model are estimated based on its log-linearization by the Bayesian approach. The nonlinear model is verified by retroprognosis, estimation of stability indicators of mappings specified by the model, and estimation the degree of coincidence for results of internal and external shocks' effects on macroeconomic indicators on the basis of the estimated nonlinear model and its log-linearization. On the base of the nonlinear model, the parametric control problems of economic growth and volatility of macroeconomic indicators of Kazakhstan are formulated and solved for two exchange rate regimes (free floating and managed floating exchange rates)

  20. Kinetic theory approach to modeling of cellular repair mechanisms under genome stress.

    Directory of Open Access Journals (Sweden)

    Jinpeng Qi

    Full Text Available Under acute perturbations from outer environment, a normal cell can trigger cellular self-defense mechanism in response to genome stress. To investigate the kinetics of cellular self-repair process at single cell level further, a model of DNA damage generating and repair is proposed under acute Ion Radiation (IR by using mathematical framework of kinetic theory of active particles (KTAP. Firstly, we focus on illustrating the profile of Cellular Repair System (CRS instituted by two sub-populations, each of which is made up of the active particles with different discrete states. Then, we implement the mathematical framework of cellular self-repair mechanism, and illustrate the dynamic processes of Double Strand Breaks (DSBs and Repair Protein (RP generating, DSB-protein complexes (DSBCs synthesizing, and toxins accumulating. Finally, we roughly analyze the capability of cellular self-repair mechanism, cellular activity of transferring DNA damage, and genome stability, especially the different fates of a certain cell before and after the time thresholds of IR perturbations that a cell can tolerate maximally under different IR perturbation circumstances.

  1. Kinetic theory approach to modeling of cellular repair mechanisms under genome stress.

    Science.gov (United States)

    Qi, Jinpeng; Ding, Yongsheng; Zhu, Ying; Wu, Yizhi

    2011-01-01

    Under acute perturbations from outer environment, a normal cell can trigger cellular self-defense mechanism in response to genome stress. To investigate the kinetics of cellular self-repair process at single cell level further, a model of DNA damage generating and repair is proposed under acute Ion Radiation (IR) by using mathematical framework of kinetic theory of active particles (KTAP). Firstly, we focus on illustrating the profile of Cellular Repair System (CRS) instituted by two sub-populations, each of which is made up of the active particles with different discrete states. Then, we implement the mathematical framework of cellular self-repair mechanism, and illustrate the dynamic processes of Double Strand Breaks (DSBs) and Repair Protein (RP) generating, DSB-protein complexes (DSBCs) synthesizing, and toxins accumulating. Finally, we roughly analyze the capability of cellular self-repair mechanism, cellular activity of transferring DNA damage, and genome stability, especially the different fates of a certain cell before and after the time thresholds of IR perturbations that a cell can tolerate maximally under different IR perturbation circumstances.

  2. Could a Weak Coupling Massless SU(5) Theory Underly the Standard Model S-Matrix

    Science.gov (United States)

    White, Alan R.

    2011-04-01

    The unitary Critical Pomeron connects to a unique massless left-handed SU(5) theory that, remarkably, might provide an unconventional underlying unification for the Standard Model. Multi-regge theory suggests the existence of a bound-state high-energy S-Matrix that replicates Standard Model states and interactions via massless fermion anomaly dynamics. Configurations of anomalous wee gauge boson reggeons play a vacuum-like role. All particles, including neutrinos, are bound-states with dynamical masses (there is no Higgs field) that are formed (in part) by anomaly poles. The contributing zero-momentum chirality transitions break the SU(5) symmetry to vector SU(3)⊗U(1) in the S-Matrix. The high-energy interactions are vector reggeon exchanges accompanied by wee boson sums (odd-signature for the strong interaction and even-signature for the electroweak interaction) that strongly enhance couplings. The very small SU(5) coupling, αQUD ≲ 1/120, should be reflected in small (Majorana) neutrino masses. A color sextet quark sector, still to be discovered, produces both Dark Matter and Electroweak Symmetry Breaking. Anomaly color factors imply this sector could be produced at the LHC with large cross-sections, and would be definitively identified in double pomeron processes.

  3. Consolidation Theory for a Stone Column Composite Foundation under Multistage Loading

    Directory of Open Access Journals (Sweden)

    Shenggen Huang

    2016-01-01

    Full Text Available The consolidation theories considering instant load cannot fully reveal the consolidation mechanism of a stone column composite foundation used in the expressway embankments due to the time effect of loading; that is, the expressway embankments are often constructed in several stages for a long time. Meanwhile, owing to the special property that the pile-soil stress ratio is larger than 1, the consolidation theory for sand drain well foundation cannot be used directly in the consolidation analysis of stone column composite foundation. Based on the principle that the vertical load applied on the composite foundation is shared by the stone column and the surrounding soil, the governing solutions for the stone column composite foundation under a multistage load are established. By virtue of the separation of variables, the corresponding solutions of degree of consolidation for loading stage and maintaining load stage are derived separately. According to the Carrillo theorem, the solution for the average total degree of consolidation of entire composite foundation is also obtained. Finally, the reasonableness of the present solution has been verified by comparing the consolidation curve calculated by the present solution with that measured by site test.

  4. MODELLING OF TOURISM SERVICE DYNAMICS UNDER THE INFLUENCE OF ECONOMIC PATTERN OF SOCIETY

    Directory of Open Access Journals (Sweden)

    Lesya Buyak

    2016-11-01

    Full Text Available Tourism as a phenomenon of social life is a derivative of social development. Its appearance is attributed to the industrial stage of human development, which was inherent in the accelerated development of the productive forces, deepening division of labour, development of urbanization processes. Accelerated innovation changes related to scientific and technological progress contributed to the overall socio-economic development of certain countries, improve the living standards of their populations, changed the nature of work, method and way of life, especially evident in the XX century. Urbanization and changes in the settlement system, post-industrial phase of economic development, deepening comprehension of environmental issues and global dimension of humanity, humanization of all spheres of public life. The increase in tourist flows in all regions complicates the management of enterprises, schemes of partnership in the process in tourism, which, among other things, is accompanied by rising levels of consumer education, and therefore their quality requirements for end tourism product, the rapid increase in supply, there is a need to study the characteristics of consumer behaviour, search for existing reserves to build capacity of individual enterprises, isolation and effective use of effective methods and tools of influence on consumer choice of consumers. Development and implementation of an effective mechanism of formation of market supply needs an assessment of consumer behaviour on quantitative and qualitative indicators. The rapid development of tourism, of course, helps determine the types and methods of calculating these indicators. These problems and targeted research are considered in this article. The subject of research is the concept and tools of analysis, mathematical modelling of the economic structure of society in dynamic tourist services. Research methodology is economic and mathematical models, algorithms and processes

  5. Techniques for Analyzing the Attractiveness of International Commodity Markets Under Conditions of Economic Globalization

    Directory of Open Access Journals (Sweden)

    Olha Pryhara

    2006-03-01

    Full Text Available This article examines existing techniques and proposes its own for analyzing the attractiveness of international commodity markets in light of the globalization of world economic processes. Taking into account the supranational nature of the world economic environment when examining categories in the attractiveness of international commodity markets, the author introduces a multilevel system of indicators: market attractiveness at the mega-level – global level; market attractiveness at the macro-level national level; market attractiveness at the mezo-level – level of an individual sector. The attractiveness of international commodity markets is considered to be the degree of conformity between market environment factors and the mega-, macro- and mezo-levels of the economic interests of enterprises concerning the entry into and strategies for their activity on the international commodity markets in the short-, medium- and long-term. The author designs a stage-by-stage technique for strategically analyzing the attractiveness of international commodity markets in order to frame efficient market strategies of enterprises. Relying on the proposed techniques, she rates the integrated indicators of market accessibility and the possibility of realizing the economic interests of enterprises in target markets, bringing the index data into a matrix of «market accessibility – opportunity for realizing the economic interests of enterprises.» The analysis of a country’s position in the matrix makes it possible to frame efficient market strategies for enterprises.

  6. Mechanical properties of novel forms of graphyne under strain: A density functional theory study

    Science.gov (United States)

    Majidi, Roya

    2017-06-01

    The mechanical properties of two forms of graphyne sheets named α-graphyne and α2-graphyne under uniaxial and biaxial strains were studied. In-plane stiffness, bulk modulus, and shear modulus were calculated based on density functional theory. The in-plane stiffness, bulk modulus, and shear modulus of α2-graphyne were found to be larger than that of α-graphyne. The maximum values of supported uniaxial and biaxial strains before failure were determined. The α-graphyne was entered into the plastic region with the higher magnitude of tension in comparison to α2-graphyne. The mechanical properties of α-graphyne family revealed that these forms of graphyne are proper materials for use in nanomechanical applications.

  7. A THEORY OF CONSUMER’S PERCEIVED RISK UNDER THE HALO EFFECT

    Directory of Open Access Journals (Sweden)

    Dorian-Laurenţiu FLOREA

    2015-06-01

    Full Text Available Despite being largely tackled by a manifold of sciences, perceived risk is still a rather unclear concept concerning its formation and update. In today’s economy, where poor purchase decisions are so easy to make, consumers have developed mental shields residing in actions based on perceived risk. This paper develops and tests a theory of perceived risk formation under the halo effect, based on correlation analysis in two forms: rankings individuals on their contribution to the correlations increase and partial correlations. Both internal and external halo effects were found, emerging from the perceived risk component – functional risk, financial risk, social risk, physical risk, psychological risk and time risk –, brand attitude, product category attitude, consumer’s regret, others’ regret expressed through word-of-mouth, recency, and awareness of awareness. The intricate halo that was revealed needs further attention from the scientific community in order to better delimit halo sources and, eventually, to explain its variability.

  8. Simulations of nanocrystals under pressure: Combining electronic enthalpy and linear-scaling density-functional theory

    Energy Technology Data Exchange (ETDEWEB)

    Corsini, Niccolò R. C., E-mail: niccolo.corsini@imperial.ac.uk; Greco, Andrea; Haynes, Peter D. [Department of Physics and Department of Materials, Imperial College London, Exhibition Road, London SW7 2AZ (United Kingdom); Hine, Nicholas D. M. [Department of Physics and Department of Materials, Imperial College London, Exhibition Road, London SW7 2AZ (United Kingdom); Cavendish Laboratory, J. J. Thompson Avenue, Cambridge CB3 0HE (United Kingdom); Molteni, Carla [Department of Physics, King' s College London, Strand, London WC2R 2LS (United Kingdom)

    2013-08-28

    We present an implementation in a linear-scaling density-functional theory code of an electronic enthalpy method, which has been found to be natural and efficient for the ab initio calculation of finite systems under hydrostatic pressure. Based on a definition of the system volume as that enclosed within an electronic density isosurface [M. Cococcioni, F. Mauri, G. Ceder, and N. Marzari, Phys. Rev. Lett.94, 145501 (2005)], it supports both geometry optimizations and molecular dynamics simulations. We introduce an approach for calibrating the parameters defining the volume in the context of geometry optimizations and discuss their significance. Results in good agreement with simulations using explicit solvents are obtained, validating our approach. Size-dependent pressure-induced structural transformations and variations in the energy gap of hydrogenated silicon nanocrystals are investigated, including one comparable in size to recent experiments. A detailed analysis of the polyamorphic transformations reveals three types of amorphous structures and their persistence on depressurization is assessed.

  9. Evidence against the continuum structure underlying motivation measures derived from self-determination theory.

    Science.gov (United States)

    Chemolli, Emanuela; Gagné, Marylène

    2014-06-01

    Self-determination theory (SDT) proposes a multidimensional conceptualization of motivation in which the different regulations are said to fall along a continuum of self-determination. The continuum has been used as a basis for using a relative autonomy index as a means to create motivational scores. Rasch analysis was used to verify the continuum structure of the Multidimensional Work Motivation Scale and of the Academic Motivation Scale. We discuss the concept of continuum against SDT's conceptualization of motivation and argue against the use of the relative autonomy index on the grounds that evidence for a continuum structure underlying the regulations is weak and because the index is statistically problematic. We suggest exploiting the full richness of SDT's multidimensional conceptualization of motivation through the use of alternative scoring methods when investigating motivational dynamics across life domains.

  10. A quantitative quasispecies theory-based model of virus escape mutation under immune selection.

    Science.gov (United States)

    Woo, Hyung-June; Reifman, Jaques

    2012-08-07

    Viral infections involve a complex interplay of the immune response and escape mutation of the virus quasispecies inside a single host. Although fundamental aspects of such a balance of mutation and selection pressure have been established by the quasispecies theory decades ago, its implications have largely remained qualitative. Here, we present a quantitative approach to model the virus evolution under cytotoxic T-lymphocyte immune response. The virus quasispecies dynamics are explicitly represented by mutations in the combined sequence space of a set of epitopes within the viral genome. We stochastically simulated the growth of a viral population originating from a single wild-type founder virus and its recognition and clearance by the immune response, as well as the expansion of its genetic diversity. Applied to the immune escape of a simian immunodeficiency virus epitope, model predictions were quantitatively comparable to the experimental data. Within the model parameter space, we found two qualitatively different regimes of infectious disease pathogenesis, each representing alternative fates of the immune response: It can clear the infection in finite time or eventually be overwhelmed by viral growth and escape mutation. The latter regime exhibits the characteristic disease progression pattern of human immunodeficiency virus, while the former is bounded by maximum mutation rates that can be suppressed by the immune response. Our results demonstrate that, by explicitly representing epitope mutations and thus providing a genotype-phenotype map, the quasispecies theory can form the basis of a detailed sequence-specific model of real-world viral pathogens evolving under immune selection.

  11. ACCOUNTABILITY OF CORPORATE MANAGER: TO SYNTHESIZE OF THE DIFFERENT THEORIES BY ECONOMIC, POLITICAL, SOCIAL AND BEHAVIORAL PERSPECTIVES

    Directory of Open Access Journals (Sweden)

    Ghazeia Qussay

    2016-03-01

    Full Text Available Following the high profile financial scandals of 2007-2008, corporate management has been faced with strong pressures resulting from more regulatory requirements, as well as the increasing expectations of various groups of stakeholders. The responsibility acquired a big importance in front of this financial crisis. This responsibility requires more transparency and communication, inside the company with the collaborators and outside of the company with the society, while companies try to improve the degree of control and to authorize managers to realize the objectives of the company. The objective of this paper is to present the concept of the responsibility generally and the various types of manager’s responsibility in private individual within the company, as well as the explanatory theories of this responsibility through the various perspectives such as: economic, political, social and behavioral. This study should have academic and practical contributions particularly for regulators seeking to improve the companies’ practices and organizational functioning within capital market economy.

  12. Economic Return of Clinical Trials Performed Under the Pediatric Exclusivity Program

    Science.gov (United States)

    Li, Jennifer S.; Eisenstein, Eric L.; Grabowski, Henry G.; Reid, Elizabeth D.; Mangum, Barry; Schulman, Kevin A.; Goldsmith, John V.; Murphy, M. Dianne; Califf, Robert M.; Benjamin, Daniel K.

    2009-01-01

    Context In 1997, Congress authorized the Food and Drug Administration (FDA) to grant 6 month extensions of marketing rights through the Pediatric Exclusivity program if industry sponsors complete FDA-requested pediatric trials. The program has been praised for creating incentives for studies in children; it has been criticized as a “windfall” to the innovator drug industry. This critique has been a substantial part of Congressional debate on the program, which is due to sunset in 2007. Objective To quantify the economic return to industry for completing Pediatric Exclusivity. Design Cohort study of programs conducted for Pediatric Exclusivity. We selected 9 drugs that were granted Pediatric Exclusivity. From the final study reports submitted to FDA, we obtained key elements of the clinical trial design and study operations. We estimated the cost of performing each study and converted these into estimates of after-tax cash outflows. We obtained 3-year market sales and converted these into estimates of after-tax cash inflows based upon 6 months of additional market protection. We then calculated the net economic return (cash inflows less outflows) and ratio net return to costs (net economic return divided by cash outflows) for each product. Main Outcome Measures Net economic return and ratio of net return to cost. Results The indications studied reflected a broad representation of the program: asthma, tumors, attention deficit disorder, hypertension, depression/generalized anxiety disorder, diabetes, gastroesophageal reflux, bacterial infection, and bone mineralization. The distribution of net economic return for 6 months of exclusivity varied substantially among products [net return ranged from (−)$8.9 million to (+)$507.9 million; ratio of return to cost ranged from −0.68 to 73.6] Conclusions The economic return for pediatric exclusivity is highly variable. Pediatric Exclusivity, as an incentive to complete much-needed clinical trials in children, can

  13. Consumer preferences for reduced packaging under economic instruments and recycling policy.

    Science.gov (United States)

    Yamaguchi, Keiko; Takeuchi, Kenji

    2016-02-01

    This study was conducted using a web-based survey and bidding game in contingent valuation method to evaluate consumer preferences for packaging with less material. Results revealed that people who live in a municipality implementing unit-based pricing of waste have a higher willingness-to-pay (WTP) for a product. Economic instruments can affect the purchase of products with reduced packaging because a higher disposal cost increases the attractiveness of source reduction. However, unit-based pricing combined with plastic separation for recycling reduces WTP. This result suggests that recycling policy weakens the effect of economic instruments on source reduction of waste. Copyright © 2015 Elsevier Ltd. All rights reserved.

  14. Selecting the Most Economic Project under Uncertainty Using Bootstrap Technique and Fuzzy Simulation

    Directory of Open Access Journals (Sweden)

    Kamran Shahanaghi

    2012-01-01

    Full Text Available This article, by leaving pre-determined membership function of a fuzzy set which is a basic assumption for such subject, will try to propose a hybrid technique to select the most economic project among alternative projects in fuzziness interest rates condition. In this way, net present worth (NPW would be the economic indicator. This article tries to challenge the assumption of large sample sizes availability for membership function determination and shows that some other techniques may have less accuracy. To give a robust solution, bootstrapping and fuzzy simulation is suggested and a numerical example is given and analyzed.

  15. PREFACE: Quantum Field Theory Under the Influence of External Conditions (QFEXT07)

    Science.gov (United States)

    Bordag, M.; Mostepanenko, V. M.

    2008-04-01

    This special issue contains papers reflecting talks presented at the 8th Workshop on Quantum Field Theory Under the Influence of External Conditions (QFEXT07), held on 17 21 September 2007, at Leipzig University. This workshop gathered 108 physicists and mathematicians working on problems which are focused on the following topics: •Casimir and van der Waals forces—progress in theory and new experiments, applications at micro- and nano-scale •Casimir effect—exact results, approximate methods and mathematical problems •Vacuum quantum effects in classical background fields—renormalization issues, singular backgrounds, applications to particle and high energy physics •Vacuum energy and gravity, vacuum energy in supersymmetric and noncommutative theories. This workshop is part of a series started in 1989 and 1992 in Leipzig by Dieter Robaschik, and continued in 1995, 1998 and 2001 in Leipzig by Michael Bordag. In 2003 this Workshop was organized by Kimball A Milton in Oklahoma, in 2005 by Emilio Elizalde in Barcelona and in 2007 it returned to Leipzig. The field of physics after which this series of workshops is named is remarkably broad. It stretches from experimental work on the measurement of dispersion forces between macroscopic bodies to quantum corrections in the presence of classical background fields. The underlying physical idea is that even in its ground state (vacuum) a quantum system responds to changes in its environment. The universality of this idea makes the field of its application so very broad. The most prominent manifestation of vacuum energy is the Casimir effect. This is, in its original formulation, the attraction between conducting planes due to the vacuum fluctuations of the electromagnetic field. In a sense, this is the long-range tail of the more general dispersion forces acting between macroscopic bodies. With the progress in nanotechnology, dispersion forces become of direct practical significance. On a more theoretical side

  16. Quantifying economic sustainability. Implications for free-enterprise theory, policy and practice

    Energy Technology Data Exchange (ETDEWEB)

    Goerner, Sally J. [Integral Science Institute, 374 Wesley Ct, Chapel Hill, NC 27516 (United States); Lietaer, Bernard [Center for Sustainable Resources, 101 Giannini Hall, University of California, Berkeley, CA 94720-3100 (United States); Ulanowicz, Robert E. [University of Maryland Center for Environmental Science, Chesapeake Biological Laboratory, Solomons, MD 20688-0038 (United States)

    2009-11-15

    In a previous paper (Ulanowicz, Goerner, Lietaer, and Gomez, 2009), we combined thermodynamic, network, and information theoretic measures with research on real-life ecosystems to create a generalized, quantitative measure of sustainability for any complex, matter/energy flow system. The current paper explores how this metric and its related concepts can be used to provide a new narrative for long-term economic health and sustainability. Based on a system's ability to maintain a crucial balance between two equally essential, but complementary factors, resilience and efficiency, this generic explanation of the network structure needed to maintain long-term robustness provides the missing theoretical explanation for what constitutes healthy development and the mathematical means to differentiate it quantitatively from mere growth. Matching long-standing observations of sustainable vitality in natural ecosystems and living organisms, the result is a much clearer, more accurate understanding of the conditions needed for free-enterprise networks to produce the kind of sustainable vitality everyone desires, one which enhances and reliably maintains the health and well-being of all levels of global civilization as well as the planet. (author)

  17. Economic assessment of nuclear energy from systems theory's point of view

    International Nuclear Information System (INIS)

    Iliffe, C.

    1976-01-01

    A report is given on how systems theory can be incorporated in nuclear energy and in which manner it can be applied. As opposed to previous considerations in which the development of nuclear energy in the form of cost effects of the energy produced in a nuclear power plant was assessed and the power plant was considered as insular plant, today this is replaced by the investigation of the individual nuclear power plants by a system of several such plants. The economy criterium of such a system is considered as the quotient of 'discounted' expenditure and discounted electro-energy production. The total discounted electricity generation by the nuclear power plant system also includes the energy production of new nuclear power plants to come and allows their special economy assessment. This method eliminates the question of the buying and selling price of plutonium and the interest payment of the expenditure for using Pn fuel. The discount programme, the systems costs, concessions in discounting, the minimization of the consumption, and the plutonium valuation are individually dealt with in detail. The solution to the linear three-interval programme is given in the appendix. (HR/LH) [de

  18. IT Investment Guidelines in Taiwan's IT Industry under a Global Economic Downturn

    Science.gov (United States)

    Cha, Un Un

    2011-01-01

    The current qualitative phenomenological study focused on how information technology (IT) leaders managed IT investment during the global economic downturn in the Taiwan IT industry. Organizations around the world spend billions of dollars on IT-related products and services every year. Determining an effective IT investment plan is a complex task…

  19. The Legality of Foreign Military Activities in the Exclusive Economic Zone under UNCLOS

    NARCIS (Netherlands)

    Geng, Jing

    2012-01-01

    During negotiations for the United Nations Convention on the Law of the Sea (UNCLOS), military activities in another state's Exclusive Economic Zone (EEZ) were a point of contention. Currently, the issue remains controversial in state practice. UNCLOS attempts to balance the differing interests of

  20. Economic analysis of adaptive strategies for flood risk management under climate change

    NARCIS (Netherlands)

    Pol, van der T.D.; Ierland, van E.C.; Gabbert, S.G.M.

    2017-01-01

    Climate change requires reconsideration of flood risk management strategies. Cost-benefit analysis (CBA), an economic decision-support tool, has been widely applied to assess these strategies. This paper aims to describe and discuss probabilistic extensions of CBA to identify welfare-maximising

  1. ECOLOGICAL AND ECONOMIC DYNAMICS OF THE SHUNDE AGRICULTURAL SYSTEM UNDER CHINA'S SMALL CITY DEVELOPMENT STRATEGY

    Science.gov (United States)

    The development of small cities has been adopted as the main strategy to make full use of extra labor in the rural areas of China. The ecological and economic consequences of this development will affect over 100 million people and change the organization of agricultural systems ...

  2. Modelling and economic evaluation of forest biome shifts under climate change in Southwest Germany

    Science.gov (United States)

    Marc Hanewinkel; Susan Hummel; Dominik. Cullmann

    2010-01-01

    We evaluated the economic effects of a predicted shift from Norway spruce (Picea abies) to European beech (Fagus sylvatica) for a forest area of 1.3 million ha in southwest Germany. The shift was modelled with a generalized linear model (GLM) by using presence/absence data from the National Forest Inventory in Baden-Wurttemberg...

  3. Optimal Dynamic Investment Policy under Different Rates for Tax Depreciation and Economic Depreciation

    NARCIS (Netherlands)

    Wielhouwer, J.L.; De Waegenaere, A.M.B.; Kort, P.M.

    1999-01-01

    This paper analyzes the consequences of incorporating a different rate for tax depreciation than for economic depreciation. Firms most often choose their tax depreciation rate in a strategic way. It would therefore be a coincidence if this optimization process leads to a tax depreciation rate that

  4. The politics and policies of welfare chauvinism under the economic crisis

    DEFF Research Database (Denmark)

    Keskinen, Suvi; Norocel, Ov Cristian; Bak Jørgensen, Martin

    2016-01-01

    The ongoing economic crisis that emerged in the wake of the global recession in 2008, and was followed by the more recent crisis of the Eurozone, has introduced new themes and remoulded old ways of approaching the welfare state, immigration, national belonging and racism in Northern Europe...

  5. Financing aspects of nuclear power plant construction under Polish economic conditions

    International Nuclear Information System (INIS)

    Besant-Jones, John E.

    1999-01-01

    Within the framework of the new Polish Energy Law the different issues important far financing a programme to develop nuclear power power in Poland such as: economic competitiveness of nuclear power, financing options for nuclear power projects, managing the various risks for financing nuclear power as well as nuclear and business liability are considered. The importance of policy issues is stressed

  6. Water scarcity under various socio-economic pathways and its potential effects on food production in the Yellow River basin

    Science.gov (United States)

    Yin, Yuanyuan; Tang, Qiuhong; Liu, Xingcai; Zhang, Xuejun

    2017-02-01

    Increasing population and socio-economic development have put great pressure on water resources of the Yellow River (YR) basin. The anticipated climate and socio-economic changes may further increase water stress. Many studies have investigated the changes in renewable water resources under various climate change scenarios, but few have considered the joint pressure from both climate change and socio-economic development. In this study, we assess water scarcity under various socio-economic pathways with emphasis on the impact of water scarcity on food production. The water demands in the 21st century are estimated based on the newly developed shared socio-economic pathways (SSPs) and renewable water supply is estimated using the climate projections under the Representative Concentration Pathway (RCP) 8.5 scenario. The assessment predicts that the renewable water resources would decrease slightly then increase. The domestic and industrial water withdrawals are projected to increase in the next a few decades and then remain at the high level or decrease slightly during the 21st century. The increase in water withdrawals will put the middle and lower reaches in a condition of severe water scarcity beginning in the next a few decades. If 40 % of the renewable water resources were used to sustain ecosystems, a portion of irrigated land would have to be converted to rain-fed agriculture, which would lead to a 2-11 % reduction in food production. This study highlights the links between water, food and ecosystems in a changing environment and suggests that trade-offs should be considered when developing regional adaptation strategies.

  7. An Investigation of the Mechanism Underlying Teacher Aggression: Testing I[superscript 3] Theory and the General Aggression Model

    Science.gov (United States)

    Montuoro, Paul; Mainhard, Tim

    2017-01-01

    Background: Considerable research has investigated the deleterious effects of teachers responding aggressively to students who misbehave, but the mechanism underlying this dysfunctional behaviour remains unknown. Aims: This study investigated whether the mechanism underlying teacher aggression follows I[superscript 3] theory or General Aggression…

  8. 77 FR 14304 - Fisheries of the Exclusive Economic Zone Off Alaska; Sablefish Managed Under the Individual...

    Science.gov (United States)

    2012-03-09

    ...; Sablefish Managed Under the Individual Fishing Quota Program AGENCY: National Marine Fisheries Service (NMFS...: NMFS is opening directed fishing for sablefish with fixed gear managed under the Individual Fishing...

  9. Estimate of the economic impact of mastitis: A case study in a Holstein dairy herd under tropical conditions.

    Science.gov (United States)

    Guimarães, Juliana L B; Brito, Maria A V P; Lange, Carla C; Silva, Márcio R; Ribeiro, João B; Mendonça, Letícia C; Mendonça, Juliana F M; Souza, Guilherme N

    2017-07-01

    The aim of this study was to estimate the economic impact of mastitis at the herd level and the weight (percent) of the components of this impact in a Holstein dairy herd under tropical conditions. Three estimates of the economic impact of mastitis were performed. In estimates 1 and 2 the real production and economic indices from February 2011 to January 2012 were considered. In the estimate 1, indices for mastitis classified as ideal were considered, whereas in the estimate 2, the mastitis indices used were those recorded at the farm and at Holstein Cattle Association of Minas Gerais State database (real indices). Ideal mastitis indices were bulk milk somatic cell counts less than 250,000 cells/mL, incidence of clinical mastitis less than 25 cases/100 cows/year, number of culls due to udder health problems less than 5% and the percentage of cows with somatic cell counts greater than 200,000 cells/mL less than 20%. Considering the ideal indices of mastitis, the economic impact was US$19,132.35. The three main components of the economic impact were culling cows (39.4%) and the reduction in milk production due to subclinical and clinical mastitis (32.3% and 18.2%, respectively). Estimate 2 using real mastitis indices showed an economic impact of US$61,623.13 and the reduction in milk production due to mastitis (77.7%) and milk disposal (14.0%) were the most relevant components. The real impact of culling cows was approximately 16 times less than the weight that was considered ideal, indicating that this procedure could have been more frequently adopted. The reduction in milk production was 27.2% higher than the reduction in Estimate 1, indicating a need to control and prevent mastitis. The estimate 3 considered the same indices as estimate 2, but for the period from February 2012 to January 2013. Its economic impact was US$91,552.69. During this period, 161 treatments of cows with an intramammary antibiotic were performed to eliminate Streptococcus agalactiae, and

  10. Relationship of Energy Growth to Economic Growth under Alternative Energy Policies

    Energy Technology Data Exchange (ETDEWEB)

    Behling, Jr., D. J.; Dullien, R.; Hudson, E.

    1976-03-01

    This report is the first of a series of studies that will analyze the economic and social impacts of research, development, and demonstration plans of the Energy Research and Development Administration. Two policy proposals were examined against a Base Case set of economic and energy projections for the years 1985, 1990, and 2000: (1) the introduction of RD and D-initiated energy supply and end-use conversion technologies to expand domestic energy supply and to improve the efficiency and flexibility of its use; and (2) the imposition of taxes and tariffs on petroleum and natural gas to reduce demand for these primary energy sources. Targets for the amounts of imports of oil and gas were specified by ERDA as follows: 10 percent (or less) of total U.S. energy consumption in 1985; 8 percent (or less) of total U.S. energy consumption in 1990; and 5 percent (or less) of total U.S. energy consumption in 2000. The purpose of the analysis was to first identify the degree to which the introduction of new energy technologies and/or the imposition of energy taxes could reduce oil and gas imports toward the target levels; and second, to estimate the effects of these policies on the economy and the environment. These economic and environmental effects are thus a measure of the costs associated with meeting the import targets. The benefits of these policies, in the form of increased economic and political security were not measured. The analysis was based on an analytic framework which linked detailed mathematical process engineering and economic models to more aggregate econometric models. The four models employed are described.

  11. Agroforestry versus farm mosaic systems - Comparing land-use efficiency, economic returns and risks under climate change effects.

    Science.gov (United States)

    Paul, Carola; Weber, Michael; Knoke, Thomas

    2017-06-01

    Increasing land-use conflicts call for the development of land-use systems that reconcile agricultural production with the provisioning of multiple ecosystem services, including climate change mitigation. Agroforestry has been suggested as a global solution to increase land-use efficiency, while reducing environmental impacts and economic risks for farmers. Past research has often focused on comparing tree-crop combinations with agricultural monocultures, but agroforestry has seldom been systematically compared to other forms of land-use diversification, including a farm mosaic. This form of diversification mixes separate parcels of different land uses within the farm. The objective of this study was to develop a modelling approach to compare the performance of the agroforestry and farm mosaic diversification strategies, accounting for tree-crop interaction effects and economic and climate uncertainty. For this purpose, Modern Portfolio Theory and risk simulation were coupled with the process-based biophysical simulation model WaNuLCAS 4.0. For an example application, we used data from a field trial in Panama. The results show that the simulated agroforestry systems (Taungya, alley cropping and border planting) could outperform a farm mosaic approach in terms of cumulative production and return. Considering market and climate uncertainty, agroforestry showed an up to 21% higher economic return at the same risk level (i.e. standard deviation of economic returns). Farm compositions with large shares of land allocated to maize cultivation were also more severely affected by an increasing drought frequency in terms of both risks and returns. Our study demonstrates that agroforestry can be an economically efficient diversification strategy, but only if the design allows for economies of scope, beneficial interactions between trees and crops and higher income diversification compared to a farm mosaic. The modelling approach can make an important contribution to support

  12. Flory-type theories of polymer chains under different external stimuli

    Science.gov (United States)

    Budkov, Yu A.; Kiselev, M. G.

    2018-01-01

    In this Review, we present a critical analysis of various applications of the Flory-type theories to a theoretical description of the conformational behavior of single polymer chains in dilute polymer solutions under a few external stimuli. Different theoretical models of flexible polymer chains in the supercritical fluid are discussed and analysed. Different points of view on the conformational behavior of the polymer chain near the liquid-gas transition critical point of the solvent are presented. A theoretical description of the co-solvent-induced coil-globule transitions within the implicit-solvent-explicit-co-solvent models is discussed. Several explicit-solvent-explicit-co-solvent theoretical models of the coil-to-globule-to-coil transition of the polymer chain in a mixture of good solvents (co-nonsolvency) are analysed and compared with each other. Finally, a new theoretical model of the conformational behavior of the dielectric polymer chain under the external constant electric field in the dilute polymer solution with an explicit account for the many-body dipole correlations is discussed. The polymer chain collapse induced by many-body dipole correlations of monomers in the context of statistical thermodynamics of dielectric polymers is analysed.

  13. Transverse signal decay under the weak field approximation: Theory and validation.

    Science.gov (United States)

    Berman, Avery J L; Pike, G Bruce

    2018-07-01

    To derive an expression for the transverse signal time course from systems in the motional narrowing regime, such as water diffusing in blood. This was validated in silico and experimentally with ex vivo blood samples. A closed-form solution (CFS) for transverse signal decay under any train of refocusing pulses was derived using the weak field approximation. The CFS was validated via simulations of water molecules diffusing in the presence of spherical perturbers, with a range of sizes and under various pulse sequences. The CFS was compared with more conventional fits assuming monoexponential decay, including chemical exchange, using ex vivo blood Carr-Purcell-Meiboom-Gill data. From simulations, the CFS was shown to be valid in the motional narrowing regime and partially into the intermediate dephasing regime, with increased accuracy with increasing Carr-Purcell-Meiboom-Gill refocusing rate. In theoretical calculations of the CFS, fitting for the transverse relaxation rate (R 2 ) gave excellent agreement with the weak field approximation expression for R 2 for Carr-Purcell-Meiboom-Gill sequences, but diverged for free induction decay. These same results were confirmed in the ex vivo analysis. Transverse signal decay in the motional narrowing regime can be accurately described analytically. This theory has applications in areas such as tissue iron imaging, relaxometry of blood, and contrast agent imaging. Magn Reson Med 80:341-350, 2018. © 2017 International Society for Magnetic Resonance in Medicine. © 2017 International Society for Magnetic Resonance in Medicine.

  14. How could differences in 'control over destiny' lead to socio-economic inequalities in health? A synthesis of theories and pathways in the living environment.

    Science.gov (United States)

    Whitehead, Margaret; Pennington, Andy; Orton, Lois; Nayak, Shilpa; Petticrew, Mark; Sowden, Amanda; White, Martin

    2016-05-01

    We conducted the first synthesis of theories on causal associations and pathways connecting degree of control in the living environment to socio-economic inequalities in health-related outcomes. We identified the main theories about how differences in 'control over destiny' could lead to socio-economic inequalities in health, and conceptualised these at three distinct explanatory levels: micro/personal; meso/community; and macro/societal. These levels are interrelated but have rarely been considered together in the disparate literatures in which they are located. This synthesis of theories provides new conceptual frameworks to contribute to the design and conduct of theory-led evaluations of actions to tackle inequalities in health. Copyright © 2016 The Authors. Published by Elsevier Ltd.. All rights reserved.

  15. The Failure of the EU in the Global “Lisbon Process”: A Cross-national, Quantitative Tribute to the Relevance of the Economic Theories of Professor Panayotopoulos

    OpenAIRE

    Arno Tausch

    2008-01-01

    In this paper we analyze the Lisbon performance of the countries of the European Union from a long-term, structural perspective. It again turns out that first of all things get worse, before they get better – the old wisdom of classical development economics (Kuznets) and political science modernization theory of the postwar period. In addition, it emerges that foreign savings, “economic freedom”, low comparative international price levels, and World Bank type pension reforms are not compatib...

  16. Economics of "essential use exemptions" for metered-dose inhalers under the Montreal Protocol.

    Science.gov (United States)

    DeCanio, Stephen J; Norman, Catherine S

    2007-10-01

    The Montreal Protocol on Substances that Deplete the Ozone Layer has led to rapid reductions in the use of ozone-depleting substances worldwide. However, the Protocol provides for "essential use exemptions" (EUEs) if there are no "technically and economically feasible" alternatives. An application that might qualify as an "essential use" is CFC-powered medical metered-dose inhalers (MDIs) for the treatment of asthma and chronic obstructive pulmonary disease (COPD), and the US and other nations have applied for exemptions in this case. One concern is that exemptions are necessary to ensure access to medications for low-income uninsureds. We examine the consequences of granting or withholding such exemptions, and conclude that government policies and private-sector programs are available that make it economically feasible to phase out chlorofluorocarbons (CFCs) in this application, thereby furthering the global public health objectives of the Montreal Protocol without compromising the treatment of patients who currently receive medication by means of MDIs.

  17. Salient Public Beliefs Underlying Disaster Preparedness Behaviors: A Theory-Based Qualitative Study.

    Science.gov (United States)

    Najafi, Mehdi; Ardalan, Ali; Akbarisari, Ali; Noorbala, Ahmad Ali; Elmi, Helen

    2017-04-01

    stakeholder groups is needed to understand their perceptions about DPB in creating the people's social environment. Najafi M , Ardalan A , Akbarisari A , Noorbala AA , Elmi H . Salient public beliefs underlying disaster preparedness behaviors: a theory-based qualitative study. Prehosp Disaster Med. 2017;32(2):124-133 .

  18. Economic evaluation of cereal cropping systems under semiarid conditions: minimum input, organic and conventional

    OpenAIRE

    Pardo,Gabriel; Aibar,Joaquín; Cavero,José; Zaragoza,Carlos

    2009-01-01

    Cropping systems like organic farming, selling products at a higher price and promoting environmental sustainability by reducing fertilizer and pesticides, can be more profitable than conventional systems. An economic evaluation of three cropping systems in a seven year period experiment was performed, using a common rotation (fallow-barley-vetch-durum wheat) in a semi-arid rainfed field of Spain. The minimum input system included mouldboard ploughing, cultivator preparation, sowing and harve...

  19. A global water scarcity assessment under Shared Socio-economic Pathways – Part 1: Water use

    Directory of Open Access Journals (Sweden)

    N. Hanasaki

    2013-07-01

    Full Text Available A novel global water scarcity assessment for the 21st century is presented in a two-part paper. In this first paper, water use scenarios are presented for the latest global hydrological models. The scenarios are compatible with the socio-economic scenarios of the Shared Socio-economic Pathways (SSPs, which are a part of the latest set of scenarios on global change developed by the integrated assessment, the IAV (climate change impact, adaptation, and vulnerability assessment, and the climate modeling community. The SSPs depict five global situations based on substantially different socio-economic conditions during the 21st century. Water use scenarios were developed to reflect not only quantitative socio-economic factors, such as population and electricity production, but also key qualitative concepts such as the degree of technological change and overall environmental consciousness. Each scenario consists of five factors: irrigated area, crop intensity, irrigation efficiency, and withdrawal-based potential industrial and municipal water demands. The first three factors are used to estimate the potential irrigation water demand. All factors were developed using simple models based on a literature review and analysis of historical records. The factors are grid-based at a spatial resolution of 0.5° × 0.5° and cover the whole 21st century in five-year intervals. Each factor shows wide variation among the different global situations depicted: the irrigated area in 2085 varies between 2.7 × 106 and 4.5 × 106 km2, withdrawal-based potential industrial water demand between 246 and 1714 km3 yr−1, and municipal water between 573 and 1280 km3 yr−1. The water use scenarios can be used for global water scarcity assessments that identify the regions vulnerable to water scarcity and analyze the timing and magnitude of scarcity conditions.

  20. CHINA'S INTERNATIONAL TOURISM UNDER ECONOMIC TRANSITION: NATIONAL TRENDS AND REGIONAL DISPARITIES

    OpenAIRE

    Liang, Chyi-Lyi (Kathleen); Guo, Rong; Wang, Qingbin

    2003-01-01

    China's Tourism industry, especially international tourism, has expanded rapidly since its market-oriented economic reform started in 1978. There has been limited information regarding the trends and regional disparities. This paper examines the national trends of China's international tourism since 1982 and analyzes the changes in regional disparities since 1995. While the trend analysis suggests that China's international tourism is likely to keep growing at a significant rate, the analysis...

  1. Unaccompanied minor refugees and the protection of their socio-economic rights under human rights law

    OpenAIRE

    Swart, Sarah

    2009-01-01

    This paper reflects the results of a study, the main objective of which was to investigate the practical treatment of unaccompanied minor refugees in Ghana and South Africa, and to explore whether such treatment is in accordance with existing international norms and standards for the protection of refugee children. The study focused on the realisation of children's socio-economic rights in order to measure treatment. The paper seeks to address the obstacles which prevent the proper treatment ...

  2. Report on the socio-economic impact of Natural Rubber cultivation under the block planting scheme in Tripura

    OpenAIRE

    Joseph, Joby; George K., Tharian; S.K, Dey

    2010-01-01

    The study is a pioneering attempt to assess the socio-economic impact of the Block Planting Scheme (BPS) from the angle of the beneficiaries,implementing agencies and the policymakers.The report is based on the primary information gathered from 480 households drawn from Block Planting Units with mature (Mature BPUs)and immature (Immature BPUs) area under Natural Rubber (NR) as well as households attached to Group Processing Scheme (GPUs) with mature area under NR during the year 2008.The trip...

  3. Economic Sustainability of Organic Aloe Vera Farming in Greece under Risk and Uncertainty

    Directory of Open Access Journals (Sweden)

    Angelos Liontakis

    2016-04-01

    Full Text Available During the last decade, an encouraging environment for the restructuring and modernization of the agricultural sector has formed in Greece. The diversification into higher-value crops can be a promising option for small and average-sized farms, particularly during the current economic crisis. One of the most promising alternative crops that have been recently established in Greece is the organic Aloe vera crop. The main advantage of this crop is that it can utilize poor farmlands and, therefore, can facilitate rural development in marginal areas. This study explores the economic sustainability of the Aloe vera crop, considering the embedded risk and uncertainty. The results indicate that organic aloe farming is a promising alternative to “traditional” crops in Greece, particularly for family farms in rural areas. In contrast, this activity is not advisable to the most entrepreneurial type of farmers, unless their crop size allows economies of scales. Finally, the Stochastic Efficiency with Respect to a Function (SERF analysis associates farmers’ risk attitude with their willingness to be involved in organic Aloe vera farming. SERF analysis highlights the crucial role of farmers’ risk aversion and concludes that, above a certain level of risk aversion, farmers have no incentive to adopt this economic activity.

  4. Fuel vegetable oils under some economic considerations; Oleos vegetais combustiveis sob algumas consideracoes economicas

    Energy Technology Data Exchange (ETDEWEB)

    Mourad, Anna Lucia [Universidade Estadual de Campinas (UNICAMP), SP (Brazil). Fac. de Engenharia Mecanica. Dept. de Energia]|[Instituto de Tecnologia de Alimentos (ITAL), Campinas, SP (Brazil)). Centro de Tecnologia de Embalagem]. E-mail: anna@ital.sp.gov.br

    2006-07-01

    The introduction of bio diesel in the Brazilian energy matrix has been mainly motivated by the governmental actions, which foresees social and economical development to the country in a program that allows the use of different oil seed crops as raw materials for bio fuel production. Cost estimates considering the average price received by the farmer and the oil content of each vegetable shows that the minimum cost of bio fuel was about 1.1(castor bean); 1.8(peanut); 2.0(soy beans); 3.3(corn) higher than the average cost of fossil diesel from 1975 to 2004. Among the evaluated raw materials, only the palm oil had inferior cost compared to the petroleum diesel (0.6%). The oleaginous plants that have a higher oil content and smaller agricultural production cost to produce bio fuels are economically most feasible and they should be prioritized in the Government Program so that it may become economically sustainable along the years, as well as generate adequate profit to the farmers of each culture. (author)

  5. Europe 2020 Strategy’s Viability under This More Volatile Economic World

    Directory of Open Access Journals (Sweden)

    Romeo-Victor Ionescu

    2015-02-01

    Full Text Available The global crisis accentuated the competition between the greatest world economic actors. One of them, the EU28, tried to find, as solution to support its economic growth, the Cohesion Policy. The paper is focused on the analysis of the results of the Cohesion Policy and the perspectives of the new strategy Europe 2020. In order to do these, the paper uses the latest official statistic data and divides the analysis into three periods: until 2012, during 2012-2014 and during 2015-2020. The analysis is based on three elements (a comparative trend analysis, followed by a cluster analysis and a forecast using SPSS19 software and takes into considerations four important macroeconomic indicators. The main conclusion of the paper is that the objectives of the Europe 2020 strategy will be not achieved and the socio-economic disparities will increase across the EU in 2020.All conclusions of the analysis are supported by pertinent diagrams and statistic tables.

  6. Human Mobility Analysis for Extracting Local Interactions under Rapid Socio-Economic Transformation in Dawei, Myanmar

    Directory of Open Access Journals (Sweden)

    Satomi Kimijima

    2017-09-01

    Full Text Available Understanding human mobility patterns provides knowledge about impacts of a socio-economic transformation in a rapidly urbanizing environment. This study assesses a long-term mobility data which uses a face-to-face questionnaire and GPS logger-based method of data collection for extracting socio-economic impacts from the rapid transformation. Conversion of mobility related information such as travel distance, direction, and time from the questionnaire survey into spatiotemporal information was carried out by developing an algorithm. To illustrate the proposed approach, a case study in Dawei Special Economic Zone, Myanmar was conducted. The results show that the questionnaire-based mobility data can be associated with GPS-based mobility data and diverse mobility patterns are found for different social groups in the stage of urban formation. The results enabled an understanding of the human dynamics in interactions, which can be used for monitoring rural sustainability and its challenges in the future with the background of the accelerated project development in the area.

  7. Intergenerational aspects of government policy under changing demographic and economic conditions.

    Science.gov (United States)

    Boskin, M J

    1987-07-01

    Changing demographic and economic conditions in the US require that attention be given to some of the intergenerational equity features of government policy. In particular, social insurance programs and public debt leave public liabilities to future generations. Taken in the aggregate, the effects of rapidly rising public debt and especially social insurance programs are transferring substantial amounts of resources from younger working generations to the expanding generation of retirees. The most crucial element in evaluating the desirability of intergenerational wealth distribution in the long run is the rate of economic growth. A society's monetary, fiscal, tax, and regulatory policies can be more or less conducive to the generation of capital formation, technical change, and economic growth. Policies that influence growth and interest rates will combine with the national deficit to determine how rapidly the debt grows or shrinks. Present accounting procedures are insufficient to provide quantitative answers to the question of what is the impact of a given program on the age-specific distributions of resources. It is important to reconsider the desirability and efficiency of intergenerational redistributions of wealth in the US. It is likely that current policies are not in line with the principles of efficiency, equity, target effectiveness, and cost effectiveness.

  8. Environmental and social risk evaluation of overseas investment under the China-Pakistan Economic Corridor.

    Science.gov (United States)

    Zhang, Ruilian; Andam, Francis; Shi, Guoqing

    2017-06-01

    Along with the further implementation of the "One Belt, One Road" initiative and the promotion of the China-Pakistan Economic Corridor (CPEC), the construction of the CPEC will likely face challenges owing to differences between China and Pakistan in politics, economics, culture, religion, language, customs, environmental management systems, environmental protection laws, social management systems, and social management regulations. To address potential environmental and social risks associated with Chinese enterprises as they invest in the CPEC region, this paper examines previous studies addressing topics such as the environmental and social safeguards of international institutions and Pakistan's domestic environmental and social management requirements. We then systematically identify the environmental and social risk factors involved in CPEC construction, which cover risks regarding water, air, soil, noise, biodiversity, politics, economics, culture, technology, and individuals. By establishing and calculating these risks and using a multi-fuzzy comprehensive evaluation model, we found that noise and individual risks belong to a medium risk category, while others belong to a higher risk category. In view of these risks, the Chinese government must create a friendly and peaceful environment for Chinese enterprises to invest in the CPEC region, and Chinese enterprises must adopt a development strategy of strength and capacity building and establish enterprises capable of addressing environmental and social issues during the investment process. All stakeholders must understand that if no determined and diligent steps are taken, CPEC construction might be doomed for failure from the start.

  9. Economic and regional consequences of direct payments under the current CAP philosophy

    Directory of Open Access Journals (Sweden)

    Věra Bečvářová

    2011-01-01

    Full Text Available The paper deals with one of the key instruments of the actual EU Common Agricultural Policy (the CAP, the direct payments. The economic as well as the regional implications of application for direct payments in the CAP strategy are evaluated there. The study deals with the economic costs, direct and indirect effects of such type of subsidy in general and a demonstration thereof in the context of the development of the European model of agriculture. Based on the economic principle of this type of transfer evalution, the processes of the income redistribution in the framework of global/common policy in general is characterized. It explains the causes as well as the nature of implementation of this instrument in the reform processes in the last twenty years, focusing on the reasons and consequences of different application in the original and the new EU member states. It considers the question of whether this type of support to agriculture is truly a tool that does not interfere with market conditions affect the respective competitive ability of agricultural producers. In the context of changes to income support in agriculture in the CAP development process, the effect of decoupled payments on the pricing within the agricultural commodity markets is specified. At the same time the work deals with a broader social context and social impact of the differing forms of support in European regions.

  10. On the application of the dynamic plasticity theory for the treatment of reinforced concrete structures under transient loading

    International Nuclear Information System (INIS)

    Ammann, W.

    1983-01-01

    After a short introduction of the theory of dynamic plasticity, the possible applications of this theory on reinforced concrete structures under transient loading are discussed. Estimates can be obtained by relations giving lower and upper limits for dynamically loaded supporting beams. A procedure similar for the mode approximation method is described for the calculation of beams after a sudden failure of a support. (orig.) [de

  11. Application of game theory and new institutional economics in establishing a National Voluntary Organisation for Professional Evaluation in Nigeria

    Directory of Open Access Journals (Sweden)

    Denis Jobin

    2017-07-01

    Results and conclusion: To break this barrier, we proposed a new deal to the leaders that had the advantages of reshaping the ‘rules of the game’. We proposed a federation of associations, akin to a coalition in game theory. The result was that all leaders came together under this umbrella organisation, to celebrate the evaluation year in 2015 and committed under the Abuja Declaration on Evaluation to register and establish an association, with an elected board, a written constitution and election bylaws. The association is governed by a Board of Trustees, which is chaired by the former Minister of Planning. Elections are planned for the end of 2017.

  12. On the Question of Studying the Role of Social Capital under the Conditions of the Socio-Economic Crisis

    Directory of Open Access Journals (Sweden)

    Dmitrii Vladimirovich Afanas’ev

    2015-09-01

    Full Text Available The concept of social capital has gained considerable popularity in the social sciences, as well as in practical politics on a national and international scale. Its heuristic potential is confirmed by numerous studies demonstrating the positive impact of the level and types of social capital on a wide range of economic, social and political phenomena, and especially the use of the concept of social capital to study economic growth and development issues. However, there is no universally accepted definition of social capital, and there is no unanimous opinion concerning the ways of measuring it. The paper contains a review of the current status of the theoretical field of the concept; it shows that researchers from different countries are interested in the impact of social capital on economic growth and development at the regional level. Specific comparative studies in different countries and regions strongly support the presence of a correlation that proves social capital is one of the powerful driving forces of development. However, since the majority of studies on the effects of social capital on economic development are concentrated in the developed countries of Western Europe and the USA, it is important to evaluate the potential of this approach in the countries of post-Communist development that have different experience, in particular, in Russia. In this regard, the article points out that there is a clear lack of such studies with regard to Russia’s regions, where there are only occasional fragmentary attempts to study social capital. The aim of the paper is to substantiate on the theoretical basis and to indicate the prerequisites for empirical studies on the effects of social capital of regions on their economic growth and development, especially under the conditions of the general economic and structural crisis

  13. The economics of natural gas infrastructure investments. Theory and model-based analysis for Europe

    Energy Technology Data Exchange (ETDEWEB)

    Lochner, Stefan

    2012-07-01

    Changing supply structures, security of supply threats and efforts to eliminate bottlenecks and increase competition in the European gas market potentially warrant infrastructure investments. However, which investments are actually efficient is unclear. From a theoretical perspective, concepts from other sectors regarding the estimation of congestion cost and efficient investment can be applied - with some extensions - to natural gas markets. Investigations in a simple analytical framework, thereby, show that congestion does not necessarily imply that investment is efficient, and that there are multiple interdependencies between investments in different infrastructure elements (pipeline grid, gas storage, import terminals for liquefied natural gas (LNG)) which need to be considered in an applied analysis. Such interdependencies strengthen the case for a model-based analysis. An optimization model minimizing costs can illustrate the first-best solution with respect to investments in natural gas infrastructure; gas market characteristics such as temperature-dependent stochasticity of demand or the lumpiness of investments can be included. Scenario analyses help to show the effects of changing the underlying model presumption. Hence, results are projections subject to data and model assumption - and not forecasts. However, as they depict the optimal, cost-minimizing outcome, results provide a guideline to policymakers and regulators regarding the desirable market outcome. A stochastic mixed-integer dispatch and investment model for the European natural gas infrastructure is developed as an optimization model taking the theoretical inter-dependencies into account. It is based on an extensive infrastructure database including long-distance transmission pipelines, LNG terminals and gas storage sites with a high level of spatial granularity. It is parameterized with assumptions on supply and demand developments as well as empirically derived infrastructure extension costs

  14. The Economics of Work Schedules under the New Hours and Employment Taxes

    OpenAIRE

    Casey B. Mulligan

    2014-01-01

    Hours, employment, and income taxes are economically distinct, and all three are either introduced or expanded by the Affordable Care Act beginning in 2014. The tax wedges push some workers to work more hours per week (for the weeks that they are on a payroll), and others to work less, with an average weekly hours effect that tends to be small and may be in either direction. A conservative estimate of the law's average employment rate impact is negative three percent. The ACA's tax wedges and...

  15. An Economic Assessment of Local Farm Multi-Purpose Surface Water Retention Systems under Future Climate Uncertainty

    Directory of Open Access Journals (Sweden)

    Pamela Berry

    2017-03-01

    Full Text Available Regions dependent on agricultural production are concerned about the uncertainty associated with climate change. Extreme drought and flooding events are predicted to occur with greater frequency, requiring mitigation strategies to reduce their negative impacts. Multi-purpose local farm water retention systems can reduce water stress during drought periods by supporting irrigation. The retention systems’ capture of excess spring runoff and extreme rainfall events also reduces flood potential downstream. Retention systems may also be used for biomass production and nutrient retention. A sub-watershed scale retention system was analysed using a dynamic simulation model to predict the economic advantages in the future. Irrigated crops using water from the downstream reservoir at Pelly’s Lake, Manitoba, Canada, experienced a net decrease in gross margin in the future due to the associated irrigation and reservoir infrastructure costs. However, the multi-purpose benefits of the retention system at Pelly’s Lake of avoided flood damages, nutrient retention, carbon sequestration, and biomass production provide an economic benefit of $25,507.00/hectare of retention system/year. Multi-purpose retention systems under future climate uncertainty provide economic and environmental gains when used to avoid flood damages, for nutrient retention and carbon sequestration, and biomass production. The revenue gained from these functions can support farmers willing to invest in irrigation while providing economic and environmental benefits to the region.

  16. Functional brain networks and white matter underlying theory-of-mind in autism.

    Science.gov (United States)

    Kana, Rajesh K; Libero, Lauren E; Hu, Christi P; Deshpande, Hrishikesh D; Colburn, Jeffrey S

    2014-01-01

    Human beings constantly engage in attributing causal explanations to one's own and to others' actions, and theory-of-mind (ToM) is critical in making such inferences. Although children learn causal attribution early in development, children with autism spectrum disorders (ASDs) are known to have impairments in the development of intentional causality. This functional magnetic resonance imaging (fMRI) and diffusion tensor imaging (DTI) study investigated the neural correlates of physical and intentional causal attribution in people with ASDs. In the fMRI scanner, 15 adolescents and adults with ASDs and 15 age- and IQ-matched typically developing peers made causal judgments about comic strips presented randomly in an event-related design. All participants showed robust activation in bilateral posterior superior temporal sulcus at the temporo-parietal junction (TPJ) in response to intentional causality. Participants with ASDs showed lower activation in TPJ, right inferior frontal gyrus and left premotor cortex. Significantly weaker functional connectivity was also found in the ASD group between TPJ and motor areas during intentional causality. DTI data revealed significantly reduced fractional anisotropy in ASD participants in white matter underlying the temporal lobe. In addition to underscoring the role of TPJ in ToM, this study found an interaction between motor simulation and mentalizing systems in intentional causal attribution and its possible discord in autism.

  17. Analysis of Current and Future Water Demands in the Upper Indus Basin under IPCC Climate and Socio-Economic Scenarios Using a Hydro-Economic WEAP Model

    Directory of Open Access Journals (Sweden)

    Ali Amin

    2018-04-01

    Full Text Available Pakistan is currently facing physical and economic water scarcity issues that are further complicated by the rapid increase in its population and by climate change. Many studies have focused on the physical water scarcity using hydrological modeling and the measurement of the impact of climate change on water resources in the Upper Indus Basin (UIB. However, few studies have concentrated on the importance of the economic water scarcity, that is, the water management issue under the looming impacts of climate change and the population explosion of Pakistan. The purpose of this study is to develop a management strategy which helps to achieve water security and sustainability in the Upper Indus Basin (UIB with the help of different socio-economic and climate change scenarios using WEAP (Water Evaluation and Planning modeling. The streamflow data of five sub-basins (Gilgit, Hunza, Shigar, Shyok, and Astore and the entire Upper Indus Basin (UIB were calibrated (2006–2010 and validated (2011–2014 in the WEAP model. The coefficient of determination and Nash Sutcliffe values for the calibration period ranged from 0.81–0.96. The coefficient of determination and the Nash Sutcliffe values for the validation period ranged from 0.85–0.94. After the development of the WEAP model, the analysis of the unmet water demand and percent coverage of the water demand for the period of 2006–2050 was computed. Different scenarios were generated for external driving factors (population growth, urbanization, and living standards and the impact of climate change to evaluate their effect on the current water supply system. The results indicated that the future unmet water demand is likely to reach 134 million cubic meters (mcm by the year 2050 and that the external driving factors are putting more pressure on the supply service. This study further explores the importance of proposed dams (likely to be built until 2025 by WAPDA (Water and Power Development

  18. Strategy for the expansion of renewable energies. An investigation of the pricing strategy of the Renewable Energy Law from the viewpoint of an evolutionary cybernetic theory of economic policy

    International Nuclear Information System (INIS)

    Schlueter, Fabian

    2015-01-01

    This publication reports on how the steadily increasing costs caused by the Renewable Energy Law (EEG) have brought the German strategy for the expansion of renewable energies under criticism. According to theories of regulatory economic policy, which state that politico-economic incentives of this kind must necessarily result in an inefficient allocation of scarce resources, this cost increase can be interpreted as a direct consequence of the price intervention. The present publication takes a critical stance on this viewpoint, developing for its purpose a new position on regulatory policy referred to as the evolutionary cybernetic theory of economic policy. It starts out from the works of F.A. von Hayek, which it then takes a significant step further however. The author argues that price interventions can be meaningful strategies of economic policy as long as they are aimed at a temporary initiation of market development towards sustainability and efficiency. Based on this model conception of a shrewd pricing strategy the publication undertakes an analysis from the perspective of regulatory policy of the German subsidisation of renewable energies. In the process it not only reveals errors in design of the EEG but also makes a proposal for an amendment that could be effective in cutting through the present price dynamics. In presenting its recommendation of a self-steering expansion policy the publication not only contributes to the further development of an evolutionary cybernetic theory of economic policy but addresses the urgent problem of how to wisely use regulatory policy to create pricing strategies which serve the expansion of renewable energies.

  19. TERLIPRESSIN VERSUS NORADRENALINE FOR HEPATORENAL SYNDROME. Economic evaluation under the perspective of the Brazilian Public Health System

    Directory of Open Access Journals (Sweden)

    Ângelo Zambam de MATTOS

    Full Text Available ABSTRACT Background - Terlipressin and noradrenaline are the best studied treatments for hepatorenal syndrome, and there is no evidence of superiority of one over the other regarding to efficacy. While the former drug is more costly, the latter requires admission into an intensive care unit. Objective - The aim of this study was to perform an economic evaluation, comparing treatments for hepatorenal syndrome with terlipressin and noradrenaline. Methods - For the economic evaluation, a cost-minimization analysis was performed. Direct medical costs of the two treatment strategies were compared under the perspective of the Brazilian Public Health System as the third-party payer. A probabilistic sensitivity analysis was performed. Results - The costs of treatments with terlipressin or noradrenaline were 287.77 and 2,960.45 International Dollars (Int$ respectively. Treatment using terlipressin would save Int$2,672.68 for the Public Health System for each hospital admission related to hepatorenal syndrome. In the probabilistic sensitivity analysis, it was verified that the cost of the treatment with noradrenaline could vary between Int$2,326.53 and Int$3,644.16, while costs related to the treatment using terlipressin are not variable. Conclusion - The treatment strategy using terlipressin was more economical than that using noradrenaline under the perspective of the Brazilian Public Health System as the third-party payer.

  20. The Processes of Location Study for Developing Economic Zones under Public Private Partnership Model: Country Study on Bangladesh

    Directory of Open Access Journals (Sweden)

    Mahmudul Alam

    2011-02-01

    Full Text Available In spite of the complexity in defining the boundary, the concept of Economic Zones (EZ has been evolved as a way forward for the government of the developing countries for enhancing the national trade. Similarly the recent phenomenon of widespread Public Private Partnership (PPP practices especially in infrastructure sector is also providing a window to develop many of such economic zones through PPP model as EZ typically is capital intensive. Bangladesh has discrete success both under PPP and EZ regime. However, developing EZ under PPP model has few commercial complexities as both the public and private sector need to bear some roles and obligations one of which is selection of appropriate location for EZ development. The location study for PPP EZ development therefore receives paramount attention both from developer and lenders perspective. Such location study generally is not typical project site study by nature; rather it is more economic concentrated. This paper will try to identify the factors that are essential to consider for conducting these location studies based on the examples of Bangladesh. The paper will also identify the appropriate methods and approaches required for successful EZ development through PPP.

  1. Selective maintenance for multi-state series–parallel systems under economic dependence

    International Nuclear Information System (INIS)

    Dao, Cuong D.; Zuo, Ming J.; Pandey, Mayank

    2014-01-01

    This paper presents a study on selective maintenance for multi-state series–parallel systems with economically dependent components. In the selective maintenance problem, the maintenance manager has to decide which components should receive maintenance activities within a finite break between missions. All the system reliabilities in the next operating mission, the available budget and the maintenance time for each component from its current state to a higher state are taken into account in the optimization models. In addition, the components in series–parallel systems are considered to be economically dependent. Time and cost savings will be achieved when several components are simultaneously repaired in a selective maintenance strategy. As the number of repaired components increases, the saved time and cost will also increase due to the share of setting up between components and another additional reduction amount resulting from the repair of multiple identical components. Different optimization models are derived to find the best maintenance strategy for multi-state series–parallel systems. A genetic algorithm is used to solve the optimization models. The decision makers may select different components to be repaired to different working states based on the maintenance objective, resource availabilities and how dependent the repair time and cost of each component are

  2. Optimal conservation resource allocation under variable economic and ecological time discounting rates in boreal forest.

    Science.gov (United States)

    Mazziotta, Adriano; Pouzols, Federico Montesino; Mönkkönen, Mikko; Kotiaho, Janne S; Strandman, Harri; Moilanen, Atte

    2016-09-15

    Resource allocation to multiple alternative conservation actions is a complex task. A common trade-off occurs between protection of smaller, expensive, high-quality areas versus larger, cheaper, partially degraded areas. We investigate optimal allocation into three actions in boreal forest: current standard forest management rules, setting aside of mature stands, or setting aside of clear-cuts. We first estimated how habitat availability for focal indicator species and economic returns from timber harvesting develop through time as a function of forest type and action chosen. We then developed an optimal resource allocation by accounting for budget size and habitat availability of indicator species in different forest types. We also accounted for the perspective adopted towards sustainability, modeled via temporal preference and economic and ecological time discounting. Controversially, we found that in boreal forest set-aside followed by protection of clear-cuts can become a winning cost-effective strategy when accounting for habitat requirements of multiple species, long planning horizon, and limited budget. It is particularly effective when adopting a long-term sustainability perspective, and accounting for present revenues from timber harvesting. The present analysis assesses the cost-effective conditions to allocate resources into an inexpensive conservation strategy that nevertheless has potential to produce high ecological values in the future. Copyright © 2016 Elsevier Ltd. All rights reserved.

  3. Predicting Attitudes toward Press- and Speech Freedom across the U.S.A.: A Test of Climato-Economic, Parasite Stress, and Life History Theories.

    Science.gov (United States)

    Zhang, Jinguang; Reid, Scott A; Xu, Jing

    2015-01-01

    National surveys reveal notable individual differences in U.S. citizens' attitudes toward freedom of expression, including freedom of the press and speech. Recent theoretical developments and empirical findings suggest that ecological factors impact censorship attitudes in addition to individual difference variables (e.g., education, conservatism), but no research has compared the explanatory power of prominent ecological theories. This study tested climato-economic, parasite stress, and life history theories using four measures of attitudes toward censoring the press and offensive speech obtained from two national surveys in the U.S.A. Neither climate demands nor its interaction with state wealth--two key variables for climato-economic theory--predicted any of the four outcome measures. Interstate parasite stress significantly predicted two, with a marginally significant effect on the third, but the effects became non-significant when the analyses were stratified for race (as a control for extrinsic risks). Teenage birth rates (a proxy of human life history) significantly predicted attitudes toward press freedom during wartime, but the effect was the opposite of what life history theory predicted. While none of the three theories provided a fully successful explanation of individual differences in attitudes toward freedom of expression, parasite stress and life history theories do show potentials. Future research should continue examining the impact of these ecological factors on human psychology by further specifying the mechanisms and developing better measures for those theories.

  4. Predicting Attitudes toward Press- and Speech Freedom across the U.S.A.: A Test of Climato-Economic, Parasite Stress, and Life History Theories.

    Directory of Open Access Journals (Sweden)

    Jinguang Zhang

    Full Text Available National surveys reveal notable individual differences in U.S. citizens' attitudes toward freedom of expression, including freedom of the press and speech. Recent theoretical developments and empirical findings suggest that ecological factors impact censorship attitudes in addition to individual difference variables (e.g., education, conservatism, but no research has compared the explanatory power of prominent ecological theories. This study tested climato-economic, parasite stress, and life history theories using four measures of attitudes toward censoring the press and offensive speech obtained from two national surveys in the U.S.A. Neither climate demands nor its interaction with state wealth--two key variables for climato-economic theory--predicted any of the four outcome measures. Interstate parasite stress significantly predicted two, with a marginally significant effect on the third, but the effects became non-significant when the analyses were stratified for race (as a control for extrinsic risks. Teenage birth rates (a proxy of human life history significantly predicted attitudes toward press freedom during wartime, but the effect was the opposite of what life history theory predicted. While none of the three theories provided a fully successful explanation of individual differences in attitudes toward freedom of expression, parasite stress and life history theories do show potentials. Future research should continue examining the impact of these ecological factors on human psychology by further specifying the mechanisms and developing better measures for those theories.

  5. Game theory, alive

    CERN Document Server

    Karlin, Anna R

    2016-01-01

    This book presents a rigorous introduction to the mathematics of game theory without losing sight of the joy of the subject. This is done by focusing on theoretical highlights (e.g., at least six Nobel Prize winning results are developed from scratch) and by presenting exciting connections of game theory to other fields, such as computer science, economics, social choice, biology, and learning theory. Both classical topics, such as zero-sum games, and modern topics, such as sponsored search auctions, are covered. Along the way, beautiful mathematical tools used in game theory are introduced, including convexity, fixed-point theorems, and probabilistic arguments. The book is appropriate for a first course in game theory at either the undergraduate or graduate level, whether in mathematics, economics, computer science, or statistics. Game theory's influence is felt in a wide range of disciplines, and the authors deliver masterfully on the challenge of presenting both the breadth and coherence of its underlying ...

  6. Combining emperical and theory-based land use modelling approaches to assess future availability of land and economic potential for sustainable biofuel production: Argentina as a case study

    NARCIS (Netherlands)

    Diogo, V.; van der Hilst, Floortje; van Eijck, Janske; Faaij, André; Verstegen, Judith; Hilbert, J.; Carballo, S.; Volante, J.

    2014-01-01

    In this paper, a land-use modelling framework is presented combining empirical and theory-based modelling approaches to determine economic potential of biofuel production avoiding indirect land-use changes (iLUC) resulting from land competition with other functions. The empirical approach explores

  7. Combining empirical and theory-based land-use modelling approaches to assess economic potential of biofuel production avoiding iLUC: Argentina as a case study

    NARCIS (Netherlands)

    Diogo, V.; van der Hilst, F.; van Eijck, J.; Verstegen, J.A.; Hilbert, J.; Carballo, S.; Volante, J.; Faaij, A.

    2014-01-01

    In this paper, a land-use modelling framework is presented combining empirical and theory-based modelling approaches to determine economic potential of biofuel production avoiding indirect land-use changes (iLUC) resulting from land competition with other functions. The empirical approach explores

  8. Typological Features of Economic Development in Russian Regions under the Conditions of Development of Continuous Education

    Directory of Open Access Journals (Sweden)

    Sergei Viktorovich Kroshilin

    2015-12-01

    Full Text Available In the modern conditions the socio-economic paradigm is changing, on the one hand, due to the transition to knowledge economy and, on the other hand, due to the need to develop innovation that determine competitiveness and the development level of national economies in the world. It is obvious that the progressive upgrade and the improvement of production processes (change in technological modes can not be implemented without the increase in the level of human capital in the society and the enhancement of potential and qualification of the workforce. These changes largely depend on the education system. In almost all world countries there is an active process of modernization and change in the system of training. New forms and approaches appear, for example lifelong education (concept “Lifelong education”, informal forms of learning, self-education, etc. Without the development of these approaches it is not possible to become a competitive state in changing social, political and economic environment. This is particularly true for countries, which experience changes in the technological mode and have the necessity to transfer to new technologies. Russia is among such countries nowadays. In our opinion, the modern reforms do not give the opportunity to fulfill the main task of education – to ensure and create conditions for self-determination and self-moralization of an individual in the society, achieve the desired level of knowledge for development of innovation in the regions. In the framework of the conducted research we get the classification of all Russian regions by indicators, such as “innovation” and “investment attractiveness”, with the levels of education being taken into account. This approach, on the one hand, shows the heterogeneity of socio-economic development of the country’s regions and, on the other hands, ‒ allows us to reveal the fact that the same federal district can include both regions-locomotives and

  9. The Cost of Economic Literacy: How Well Does a Literacy-Targeted Principles of Economics Course Prepare Students for Intermediate Theory Courses?

    Science.gov (United States)

    Gilleskie, Donna B.; Salemi, Michael K.

    2012-01-01

    In a typical economics principles course, students encounter a large number of concepts. In a literacy-targeted course, students study a "short list" of concepts that they can use for the rest of their lives. While a literacy-targeted principles course provides better education for nonmajors, it may place economic majors at a…

  10. Free Competition Theory and the secret agreements between companies. Saint-Gobain under the charges of cartel

    Directory of Open Access Journals (Sweden)

    Andreas STAMATE

    2011-12-01

    Full Text Available The European view of economic competition, which is the European Parliament view and enforced by the European Commission does not have a coherent theory of efficiency in allocating resources and justice on a market. The positive law proceeds at incriminating and penalizing with arbitrarily fixed fines the players on different markets but not offering a definition of what competition or free market means, not to mention a theory of the firm. It delivers, of course, a sort of theory, but we argue that it is not coherent and moreover, pretends to be what it cannot possible be, nam¬ely free of any value judgments. The present paper exposes an alternative view to the theory used by EC when decided to fine with 1.4 billion euros the European car glass suppliers Saint-Gobain, Pilkington, AGC and Soliver for cartelizing, and it also presents the case from the perspective of free competition theory based on private property rights of owners.

  11. Can the Arts Get Under the Skin? Arts and Cortisol for Economically Disadvantaged Children.

    Science.gov (United States)

    Brown, Eleanor D; Garnett, Mallory L; Anderson, Kate E; Laurenceau, Jean-Philippe

    2017-07-01

    This within-subjects experimental study investigated the influence of the arts on cortisol for economically disadvantaged children. Participants were 310 children, ages 3-5 years, who attended a Head Start preschool and were randomly assigned to participate in different schedules of arts and homeroom classes on different days of the week. Cortisol was sampled at morning baseline and after arts and homeroom classes on two different days at start, middle, and end of the year. For music, dance, and visual arts, grouped and separately, results of piecewise hierarchical linear modeling with time-varying predictors suggested cortisol was lower after an arts versus homeroom class at middle and end of the year but not start of the year. Implications concern the impact of arts on cortisol for children facing poverty risks. © 2016 The Authors. Child Development © 2016 Society for Research in Child Development, Inc.

  12. Indonesia Export, Import, and Demand for Domestic Commodities under Economics Liberalisation

    Directory of Open Access Journals (Sweden)

    Andi Irawan

    2011-09-01

    Full Text Available The aim of this research is to identify the behaviour of export, import and domestic commoditiesdemand in liberalization era both in the long run and the short run. This researchapplies the Vector Error Correction Model, Johansen Cointegration Test, Impulse ResponseAnalysis and Granger Causality Test. The data range from 1993:01 to 2002:12. The resultshows that in the long run the cross-price elasticity of imported non agricultural goods withrespect to demand for domestically produced goods have lower magnitudes than own priceelasticity of domestically produced goods. The demand elasticity of import commodities iselastic but that of domestic commodities is inelastic.Keywords: Import, Export, Economic Liberalization, Vector Error Correction Model

  13. Techno-economic analysis of a local district heating plant under fuel flexibility and performance

    DEFF Research Database (Denmark)

    Rudra, Souman; Rosendahl, Lasse

    2017-01-01

    are calculated using the same procedure according to the use of various local renewable fuels known as “biogas option,” “solar option,” “heat pump option,” and “imported heat option.” A comparison has been made between the reference option and other options. The greatest reduction in heat cost is obtained from......, an investigation has been made to reduce the use of fossil fuels for district heating system and make use of the local renewable resources (biogas, solar, and heat pump) for district heating purposes. In this article, the techno-economic assessment is achieved through the development of a suite of models...... the biogas option by replacing a new engine, where 66 % of the current fuel is substituted with biogas....

  14. Economic values and expected effect of selection index for pathogen-specific mastitis under Danish conditions

    DEFF Research Database (Denmark)

    Sørensen, Lars Peter; Mark, Thomas; Sørensen, M.K.

    2010-01-01

    The objectives of this study were 1) to estimate costs related to 5 different pathogen-specific mastitis traits (susceptibility to different pathogens causing mastitis in dairy cattle) and unspecific mastitis, and 2) to compare selection differentials for an udder health index consisting of 5...... different pathogen-specific mastitis traits and lactation average somatic cell count from 5 to 170 d after first calving (LASCC170) with another index consisting of 1 unspecific mastitis trait and LASCC170. Economic values were estimated for mastitis caused by Staphylococcus aureus, Streptococcus...... dysgalactiae, Escherichia coli, coagulase-negative staphylococci, and Streptococcus uberis using a stochastic simulation model (SimHerd IV). Mastitis incidences for SimHerd IV were from incidences of mastitis treatments in primiparous Danish Holstein cows calving in 2007. Estimated costs ranged from 149 euro...

  15. The ``battle of gold'' under the light of green economics: a case study from Greece

    Science.gov (United States)

    Damigos, D.; Kaliampakos, D.

    2006-05-01

    Mining firms stimulate local and national economies but this comes at a certain cost. In the light of increasing public concern, external costs of environmental degradation and social disruption are no longer of pure academic interest. The assessment of mining projects on the grounds of sustainable development is critical in order to decide whether the exploitation of mineral resources is socially desirable. In practice, few steps have been taken towards this end. In this paper, a case study is illustrated that provides the means for evaluating the social worthiness of mining projects. The analysis, which is the first of its kind in Greece, deals with a major problem of the mining industry: the gold debate on the grounds of green economics. The assessment is based on the social cost benefit approach. Well-established techniques (e.g. benefit transfer) and innovative approaches have been adopted to overcome various practical problems

  16. Restructuring of manufacture under global financial and economic crisis: The case of Estonia

    Directory of Open Access Journals (Sweden)

    Kilvits Kaarel

    2014-01-01

    Full Text Available It was not possible for Estonia only by raising the technological level of enterprises and increasing so-called technical productivity to catch up in terms of productivity with the developed industrial countries. The structure of Estonian manufacture was out-of-date and required cardinal and fast changes toward greater value added. Every time a crisis hits, it brings about new breakthroughs in science and technology; promotes fundamental changes that take place in a relatively short period of time; gives birth to new industries; forms new growth points in the economy. The crisis has had a far-reaching impact on the world economy and has brought challenges and opportunities to all countries and all fields. In addition to big difficulties, the crisis provided for Estonian manufacture also an exceptionally good chance for change and development. The crisis had a purifying and disciplining effect, enabled to eliminate from the manufacture wrong investments and inefficient enterprises. Assets were redistributed from passive economic agents to active ones and in favour of those who had capital for growth financing. After the crisis the structure of Estonian manufacturing is more effective than before: 1 technological level higher; 2 organization of work more perfect; 3 value added and productivity higher; 4 position of value chain better; 5 maybe also the value chain itself new and better. But there are fewer jobs in the new structure of manufacturing than before the crisis. Economic, social, regional etc. stratification has increased. The influence of crisis is not over yet and there is still a risk of some setback in future. There may also arise new problems and old problems may grow sharper.

  17. Influences underlying family food choices in mothers from an economically disadvantaged community.

    Science.gov (United States)

    Hardcastle, Sarah J; Blake, Nicola

    2016-01-01

    The purpose of this qualitative study was to explore the perceptions and attitudes that underlie food choices, and, the impact of a school-based healthy eating intervention in mothers from an economically-disadvantaged community. The aim of the intervention was to educate children to act as 'health messengers' to their families. Sixteen semi-structured phone interviews were conducted with mothers with four receiving a second interview. Interviews were conducted following their child's participation in a six-week after school healthy cooking intervention. Thematic content analysis revealed four main themes: Cost and budget influence on food choices, diversity in household rules controlling food, role of socialisation on diet, and improved cooking skills and confidence to make homemade meals. The interview findings demonstrated the positive influence of the after-school cooking intervention on children and their families in cooking skills, promoting healthier cooking methods and increasing confidence to prepare homemade meals. The findings demonstrated the wider economic and social influences on food choices and eating practices. Socialisation into, and strong cultural norms around, eating habits were significant influences on family diet and on parental decisions underpinning food choices and attitudes towards the control of food within the family. The intervention was perceived to be successful in terms of improving nutritional knowledge, cooking skills and increasing confidence to make healthy and tasty homemade meals. The study demonstrates the importance of parental involvement in school-based interventions if improvements in healthy eating are to be evidenced at the family level and maintained. Copyright © 2015 Elsevier Ltd. All rights reserved.

  18. A holistic method for selecting tidal stream energy hotspots under technical, economic and functional constraints

    International Nuclear Information System (INIS)

    Vazquez, A.; Iglesias, G.

    2016-01-01

    Highlights: • A method for selecting the most suitable sites for tidal stream farms was presented. • The selection was based on relevant technical, economic and functional aspects. • As a case study, a model of the Bristol Channel was implemented and validated. - Abstract: Although a number of prospective locations for tidal stream farms have been identified, the development of a unified approach for selecting the optimum site in a region remains a current research topic. The objective of this work is to develop and apply a methodology for determining the most suitable sites for tidal stream farms, i.e. sites whose characteristics maximise power performance, minimise cost and avoid conflicts with competing uses of the marine space. Illustrated through a case study in the Bristol Channel, the method uses a validated hydrodynamics model to identify highly energetic areas and a geospatial Matlab-based program (designed ad hoc) to estimate the energy output that a tidal farm at the site with a given technology would have. This output is then used to obtain the spatial distribution of the levelised cost of energy and, on this basis, to preselect certain areas. Subsequently, potential conflicts with other functions of the marine space (e.g. fishing, shipping) are considered. The result is a selection of areas for tidal stream energy development based on a holistic approach, encompassing the relevant technical, economic and functional aspects. This methodology can lead to a significant improvement in the selection of tidal sites, thereby increasing the possibilities of project acceptance and development.

  19. Using Behavioral Economic Theory to Increase Use of Effective Contraceptives among Opioid-maintained Women at Risk of Unintended Pregnancy

    Science.gov (United States)

    Heil, Sarah H.; Hand, Dennis J.; Sigmon, Stacey C.; Badger, Gary J.; Meyer, Marjorie C.; Higgins, Stephen T.

    2016-01-01

    Objective An unsettling aspect of the US opioid epidemic is the high rate of in utero exposure, especially since most of these pregnancies are unintended, due in part to low rates of effective contraceptive use among opioid-using women. This study tested an intervention informed by behavioral economic theory and aimed at promoting effective contraceptive use among opioid-maintained women at risk of unintended pregnancy in the Burlington, VT area between 2011–2013. Methods Thirty-one women were assigned (initial 5 consecutively, subsequent 26 randomly) to either usual care or an experimental intervention. Participants in usual care received condoms, a dose of emergency contraception, and referral to local providers. Participants in the experimental condition received usual care plus the World Health Organization’s contraception initiation protocol, including free prescription contraceptives, and financial incentives for attending 13 follow-up visits over 6 months to help manage side effects and other issues. Results Significantly more women in the experimental vs. usual care control conditions initiated prescription contraceptive use (100% vs. 29%) and reported prescription contraceptive use at 1-month (63% vs. 13%), 3-month (88% vs. 20%), and 6-month (94% vs. 13%) assessments. None of the experimental condition participants became pregnant during the 6-month protocol vs. three women (20%) in the control condition. Conclusions These results provide the first experimental evidence supporting the efficacy of an intervention for increasing prescription contraceptive use among opioid-maintained women at risk of unintended pregnancy. PMID:27346756

  20. The normative method of positive economic theory El método normativo de la teoria económica positiva

    Directory of Open Access Journals (Sweden)

    Benetti Carlo

    1997-06-01

    Full Text Available Economists tend to designate as normative economics that part of the theory which, according to the theorems of welfare or efficiency, create the foundation of political economy. This article defends two theses: first, that the normative is not only a part of economic theory, but also the method of building the positive economic ideas in the currently dominant neoclassical theory. This method allows that theory to claim to unify economic thought, eliminating the possibility and the necessity for alternative approaches. Nevertheless, and this is the second thesis, there are no legitimate theoretical reasons to accept this methnodology; thus it is impera tive to build a new basic theory.Los economistas suelen designar como economía normativa aquella parte de la teoría que, de acuerdo con los teoremas de bienestar o de la eficiencia, crea el fundamento de la política económica. Este artículo defiende dos tesis: primera, que lo normativo no sólo es una parte de la teoría económica sino, también, el método de construcción de las ideas economicas positivas de la teoría neoclásica hoy dominante. Este método permite que esta teoría pretenda unificar el pensamiento económico eliminando la posiilidad y la necesidad de enfoques alternativos. Sin embargo, y ésta la segunda tesis, no hay razones teóricas legítimas para aceptar esa metodología; de modo que es imperioso construir una nueva teoría básica.