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4,600
The Mittag-Leffler Fitting of the Phillips Curve
econ.GN
In this paper, a mathematical model based on the one-parameter Mittag-Leffler function is proposed to be used for the first time to describe the relation between unemployment rate and inflation rate, also known as the Phillips curve. The Phillips curve is in the literature often represented by an exponential-like shape...
economics
4,601
Economic Development and Inequality: a complex system analysis
econ.GN
By borrowing methods from complex system analysis, in this paper we analyze the features of the complex relationship that links the development and the industrialization of a country to economic inequality. In order to do this, we identify industrialization as a combination of a monetary index, the GDP per capita, and ...
economics
4,602
Banks as Tanks: A Continuous-Time Model of Financial Clearing
econ.GN
We present a simple continuous-time model of clearing in financial networks. Financial firms are represented as "tanks" filled with fluid (money), flowing in and out. Once "pipes" connecting "tanks" are open, the system reaches the clearing payment vector in finite time. This approach provides a simple recursive soluti...
economics
4,603
Economic Complexity: "Buttarla in caciara" vs a constructive approach
econ.GN
This note is a contribution to the debate about the optimal algorithm for Economic Complexity that recently appeared on ArXiv [1, 2] . The authors of [2] eventually agree that the ECI+ algorithm [1] consists just in a renaming of the Fitness algorithm we introduced in 2012, as we explicitly showed in [3]. However, they...
economics
4,604
Interpreting Economic Complexity
q-fin.EC
Two network measures known as the Economic Complexity Index (ECI) and Product Complexity Index (PCI) have provided important insights into patterns of economic development. We show that the ECI and PCI are equivalent to a spectral clustering algorithm that partitions a similarity graph into two parts. The measures are ...
economics
4,605
Forecasting the sustainable status of the labor market in agriculture
econ.GN
In this article, a game-theoretic model is constructed that is related to the problem of optimal assignments. Examples are considered. A compromise point is found, the Nash equilibriums and the decision of the Nash arbitration scheme are constructed.
economics
4,606
Justifying the Adoption and Relevance of Inflation Targeting Framework: A Time-Varying Evidence from Ghana
econ.GN
This paper scrutinizes the rationale for the adoption of inflation targeting (IT) by Bank of Ghana in 2002. In this case, we determine the stability or otherwise of the relationship between money supply and inflation in Ghana over the period 1970M1-2016M3 using battery of econometric methods. The empirical results show...
economics
4,607
How do public research labs use funding for research? A case study
econ.GN
This paper discusses how public research organizations consume funding for research, applying a new approach based on economic metabolism of research labs, in a broad analogy with biology. This approach is applied to a case study in Europe represented by one of the biggest European public research organizations, the Na...
economics
4,608
A Physical Review on Currency
econ.GN
A theoretical self-sustainable economic model is established based on the fundamental factors of production, consumption, reservation and reinvestment, where currency is set as a unconditional credit symbol serving as transaction equivalent and stock means. Principle properties of currency are explored in this ideal ec...
economics
4,609
Information Technologies in Public Administration
econ.GN
There are visible changes in the world organization, environment and health of national conscience that create a background for discussion on possible redefinition of global, state and regional management goals. The author applies the sustainable development criteria to a hierarchical management scheme that is to lead ...
economics
4,610
Lessons from the History of European EMU
econ.GN
This paper examines the history of previous examples of EMU from the viewpoint that state actors make decisions about whether to participate in a monetary union based on rational self-interest concerning costs and benefits to their national economies. Illustrative examples are taken from nineteenth century German, Ital...
economics
4,611
Implications of EMU for the European Community
econ.GN
Monetary integration has both costs and benefits. Europeans have a strong aversion to exchange rate instability. From this perspective, the EMS has shown its limits and full monetary union involving a single currency appears to be a necessity. This is the goal of the EMU project contained in the Maastricht Treaty. This...
economics
4,612
Dark Markets with Multiple Assets: Segmentation, Asymptotic Stability, and Equilibrium Prices
econ.GN
We study a generalization of the model of a dark market due to Duffie-G\^arleanu- Pedersen [6]. Our market is segmented and involves multiple assets. We show that this market has a unique asymptotically stable equilibrium. In order to establish this result, we use a novel approach inspired by a theory due to McKenzie a...
economics
4,613
How much income inequality is fair? Nash bargaining solution and its connection to entropy
econ.GN
The question about fair income inequality has been an important open question in economics and in political philosophy for over two centuries with only qualitative answers such as the ones suggested by Rawls, Nozick, and Dworkin. We provided a quantitative answer recently, for an ideal free-market society, by developin...
economics
4,614
Explicit Solutions for Optimal Resource Extraction Problems under Regime Switching Lévy Models
econ.GN
This paper studies the problem of optimally extracting nonrenewable natural resources. Taking into account the fact that the market values of the main natural resources i.e. oil, natural gas, copper,..., etc, fluctuate randomly following global and seasonal macroeconomic parameters, the prices of natural resources are ...
economics
4,615
Stochastic Switching Games
econ.GN
We study nonzero-sum stochastic switching games. Two players compete for market dominance through controlling (via timing options) the discrete-state market regime $M$. Switching decisions are driven by a continuous stochastic factor $X$ that modulates instantaneous revenue rates and switching costs. This generates a c...
economics
4,616
An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity
econ.GN
It has been conjectured that canonical Bewley--Huggett--Aiyagari heterogeneous-agent models cannot explain the joint distribution of income and wealth. The results stated below verify this conjecture and clarify its implications under very general conditions. We show in particular that if (i) agents are infinitely-live...
economics
4,617
CAP and Monetary Policy
econ.GN
Despite the importance of CAP-related agricultural market regulation mechanisms within Europe, the agricultural sectors in European countries retain a degree of sensitivity to macroeconomic activity and policies. This reality now raises the question of the effects to be expected from the implementation of the single mo...
economics
4,618
Apologia Pro Vita Sua: The Vanishing of the White Whale in the Mists
econ.GN
There are many analogies among fortune hunting in business, politics, and science. The prime task of the gold digger was to go to the Klondikes, find the right mine and mine the richest veins. This task requires motivation, sense of purpose and ability. Techniques and equipment must be developed. Fortune hunting in New...
economics
4,619
Hospitality Students' Perceptions towards Working in Hotels: a case study of the faculty of tourism and hotels in Alexandria University
econ.GN
The tourism and hospitality industry worldwide has been confronted with the problem of attracting and retaining quality employees. If today's students are to become the effective practitioners of tomorrow, it is fundamental to understand their perceptions of tourism employment. Therefore, this research aims at investig...
economics
4,620
Can Network Theory-based Targeting Increase Technology Adoption?
econ.GN
In order to induce farmers to adopt a productive new agricultural technology, we apply simple and complex contagion diffusion models on rich social network data from 200 villages in Malawi to identify seed farmers to target and train on the new technology. A randomized controlled trial compares these theory-driven netw...
economics
4,621
Information Content of DSGE Forecasts
econ.GN
This paper examines the question whether information is contained in forecasts from DSGE models beyond that contained in lagged values, which are extensively used in the models. Four sets of forecasts are examined. The results are encouraging for DSGE forecasts of real GDP. The results suggest that there is information...
economics
4,622
The Impact of Age on Nationality Bias: Evidence from Ski Jumping
econ.GN
This empirical research explores the impact of age on nationality bias. World Cup competition data suggest that judges of professional ski jumping competitions prefer jumpers of their own nationality and exhibit this preference by rewarding them with better marks. Furthermore, the current study reveals that this nation...
economics
4,623
A Predictive Model for Oil Market under Uncertainty: Data-Driven System Dynamics Approach
econ.GN
In recent years, there have been a lot of sharp changes in the oil price. These rapid changes cause the traditional models to fail in predicting the price behavior. The main reason for the failure of the traditional models is that they consider the actual value of parameters instead of their expectational ones. In this...
economics
4,624
Brexit: The Belated Threat
econ.GN
Debates on an EU-leaving referendum arose in several member states after Brexit. We want to highlight how the exit of an additional country affects the power distribution in the Council of the European Union. We inspect the power indices of the member states both with and without the country which might leave the union...
economics
4,625
Complexity of products: the effect of data regularisation
econ.GN
Among several developments, the field of Economic Complexity (EC) has notably seen the introduction of two new techniques. One is the Bootstrapped Selective Predictability Scheme (SPSb), which can provide quantitative forecasts of the Gross Domestic Product of countries. The other, Hidden Markov Model (HMM) regularisat...
economics
4,626
Economics of carbon-dioxide abatement under an exogenous constraint on cumulative emissions
econ.GN
The fossil-fuel induced contribution to further warming over the 21st century will be determined largely by integrated CO2 emissions over time rather than the precise timing of the emissions, with a relation of near-proportionality between global warming and cumulative CO2 emissions. This paper examines optimal abateme...
economics
4,627
Enforcing Regulation Under Illicit Adaptation
econ.GN
Attempts to curb illegal activity by enforcing regulations gets complicated when agents react to the new regulatory regime in unanticipated ways to circumvent enforcement. We present a research strategy that uncovers such reactions, and permits program evaluation net of such adaptive behaviors. Our interventions were d...
economics
4,628
The role of complex analysis in modeling economic growth
econ.GN
Development and growth are complex and tumultuous processes. Modern economic growth theories identify some key determinants of economic growth. However, the relative importance of the determinants remains unknown, and additional variables may help clarify the directions and dimensions of the interactions. The novel str...
economics
4,629
Finding a promising venture capital project with todim under probabilistic hesitant fuzzy circumstance
econ.GN
Considering the risk aversion for gains and the risk seeking for losses of venture capitalists, the TODIM has been chosen as the decision-making method. Moreover, group decision is an available way to avoid the limited ability and knowledge etc. of venture capitalists.Simultaneously, venture capitalists may be hesitant...
economics
4,630
Nash equilibrium of partially asymmetric three-players zero-sum game with two strategic variables
econ.GN
We consider a partially asymmetric three-players zero-sum game with two strategic variables. Two players (A and B) have the same payoff functions, and Player C does not. Two strategic variables are $t_i$'s and $s_i$'s for $i=A, B, C$. Mainly we will show the following results. 1. The equilibrium when all players choo...
economics
4,631
Sion's mini-max theorem and Nash equilibrium in a five-players game with two groups which is zero-sum and symmetric in each group
econ.GN
We consider the relation between Sion's minimax theorem for a continuous function and a Nash equilibrium in a five-players game with two groups which is zero-sum and symmetric in each group. We will show the following results. 1. The existence of Nash equilibrium which is symmetric in each group implies Sion's minima...
economics
4,632
The Ladder Theory of Behavioral Decision Making
econ.GN
We study individual decision-making behavioral on generic view. Using a formal mathematical model, we investigate the action mechanism of decision behavioral under subjective perception changing of task attributes. Our model is built on work in two kinds classical behavioral decision making theory: "prospect theory (PT...
economics
4,633
An alternative quality of life ranking on the basis of remittances
econ.GN
Remittances provide an essential connection between people working abroad and their home countries. This paper considers these transfers as a measure of preferences revealed by the workers, underlying a ranking of countries around the world. In particular, we use the World Bank bilateral remittances data of internation...
economics
4,634
A Flexible Design for Funding Public Goods
econ.GN
We propose a design for philanthropic or publicly-funded seeding to allow (near) optimal provision of a decentralized, self-organizing ecosystem of public goods. The concept extends ideas from Quadratic Voting to a funding mechanism for endogenous community formation. Individuals make public goods contributions to proj...
economics
4,635
The "power" dimension in a process of exchange
econ.GN
The field of study of this paper is the analysis of the exchange between two subjects. Circumscribed to the micro dimension, it is however expanded with respect to standard economic theory by introducing both the dimension of power and the motivation to exchange. The basic reference is made by the reflections of those ...
economics
4,636
Eliciting the Endowment Effect under Assigned Ownership
econ.GN
In this study we present evidence that endowment effect can be elicited merely by assigned ownership. Using Google Customer Survey, we administered a survey were participants (n=495) were randomly split into 4 groups. Each group was assigned ownership of either legroom or their ability to recline on an airline. Using t...
economics
4,637
Extended opportunity cost model to find near equilibrium electricity prices under non-convexities
econ.GN
This paper finds near equilibrium prices for electricity markets with nonconvexities due to binary variables, in order to reduce the market participants' opportunity costs, such as generators' unrecovered costs. The opportunity cost is defined as the difference between the profit when the instructions of the market ope...
economics
4,638
Influence of introducing high speed railways on intercity travel behavior in Vietnam
econ.GN
It is one of hottest topics in Vietnam whether to construct a High Speed Rail (HSR) system or not in near future. To analyze the impacts of introducing the HSR on the intercity travel behavior, this research develops an integrated intercity demand forecasting model to represent trip generation and frequency, destinatio...
economics
4,639
A New Form of Banking -- Concept and Mathematical Model of Venture Banking
econ.GN
This theoretical model contains concept, equations, and graphical results for venture banking. A system of 27 equations describes the behavior of the venture-bank and underwriter system allowing phase-space type graphs that show where profits and losses occur. These results confirm and expand those obtained from the or...
economics
4,640
Selectivity correction in discrete-continuous models for the willingness to work as crowd-shippers and travel time tolerance
econ.GN
The objective of this study is to understand the different behavioral considerations that govern the choice of people to engage in a crowd-shipping market. Using novel data collected by the researchers in the US, we develop discrete-continuous models. A binary logit model has been used to estimate crowd-shippers' willi...
economics
4,641
Disability for HIV and Disincentives for Health: The Impact of South Africa's Disability Grant on HIV/AIDS Recovery
econ.GN
South Africa's disability grants program is tied to its HIV/AIDS recovery program, such that individuals who are ill enough may qualify. Qualification is historically tied to a CD4 count of 200 cells/mm3, which improve when a person adheres to antiretroviral therapy. This creates a potential unintended consequence wher...
economics
4,642
District heating systems under high CO2 emission prices: the role of the pass-through from emission cost to electricity prices
econ.GN
Low CO2 prices have prompted discussion about political measures aimed at increasing the cost of carbon dioxide emissions. These costs affect, inter alia, integrated district heating system operators (DHSO), often owned by municipalities with some political influence, that use a variety of (CO2 emis- sion intense) heat...
economics
4,643
Exploring the nuances in the relationship "culture-strategy" for the business world
econ.GN
The current article explores interesting, significant and recently identified nuances in the relationship "culture-strategy". The shared views of leading scholars at the University of National and World Economy in relation with the essence, direction, structure, role and hierarchy of "culture-strategy" relation are def...
economics
4,644
Talent management - an etymological study
econ.GN
The current article unveils and analyzes important shades of meaning for the widely discussed term talent management. It not only grounds the outlined perspectives in incremental formulation and elaboration of this construct, but also is oriented to exploring the underlying reasons for the social actors, proposing new ...
economics
4,645
Dominating Attributes Of Professed Firm Culture Of Holding Companies - Members Of The Bulgarian Industrial Capital Association
econ.GN
This article aims to outline the diversity of cultural phenomena that occur at organizational level, emphasizing the place and role of the key attributes of professed firm culture for the survival and successful development of big business organizations. The holding companies, members of the Bulgarian Industrial Capita...
economics
4,646
Geert Hofstede et al's set of national cultural dimensions - popularity and criticisms
econ.GN
This article outlines different stages in development of the national culture model, created by Geert Hofstede and his affiliates. This paper reveals and synthesizes the contemporary review of the application spheres of this framework. Numerous applications of the dimensions set are used as a source of identifying sign...
economics
4,647
Contemporary facets of business successes among leading companies, operating in Bulgaria
econ.GN
The current article unveils and analyzes some important factors, influencing diversity in strategic decision-making approaches in local companies. Researcher's attention is oriented to survey important characteristics of the strategic moves, undertaken by leading companies in Bulgaria.
economics
4,648
Social capital at venture capital firms and their financial performance: Evidence from China
econ.GN
This paper studies the extent to which social capital drives performance in the Chinese venture capital market and explores the trend toward VC syndication in China. First, we propose a hybrid model based on syndicated social networks and the latent-variable model, which describes the social capital at venture capital ...
economics
4,649
Critical review of models, containing cultural levels beyond the organizational one
econ.GN
The current article traces back the scientific interest to cultural levels across the organization at the University of National and World Economy, and especially in the series of Economic Alternatives - an official scientific magazine, issued by this Institution. Further, a wider and critical review of international a...
economics
4,650
Integrating electricity markets: Impacts of increasing trade on prices and emissions in the western United States
econ.GN
This paper presents empirically-estimated average hourly relationships between regional electricity trade in the United States and prices, emissions, and generation from 2015 through 2018. Consistent with economic theory, the analysis finds a negative relationship between electricity prices in California and regional t...
economics
4,651
Deriving the factor endowment--commodity output relationship for Thailand (1920-1927) using a three-factor two-good general equilibrium trade model
econ.GN
Feeny (1982, pp. 26-28) referred to a three-factor two-good general equilibrium trade model, when he explained the relative importance of trade and factor endowments in Thailand 1880-1940. For example, Feeny (1982) stated that the growth in labor stock would be responsible for a substantial increase in rice output rela...
economics
4,652
Aggressive Economic Incentives and Physical Activity: The Role of Choice and Technology Decision Aids
econ.GN
Aggressive incentive schemes that allow individuals to impose economic punishment on themselves if they fail to meet health goals present a promising approach for encouraging healthier behavior. However, the element of choice inherent in these schemes introduces concerns that only non-representative sectors of the popu...
economics
4,653
Constructing energy accounts for WIOD 2016 release
econ.GN
Most of today's products and services are made in global supply chains. As a result, a consumption of goods and services in one country is associated with various environmental pressures all over the world due to international trade. Advances in global multi-region input-output models have allowed researchers to draw d...
economics
4,654
Does the price of strategic commodities respond to U.S. Partisan Conflict?
econ.GN
A noteworthy feature of U.S. politics in recent years is serious partisan conflict, which has led to intensifying polarization and exacerbating high policy uncertainty. The US is a significant player in oil and gold markets. Oil and gold also form the basis of important strategic reserves in the US. We investigate whet...
economics
4,655
Causal Tree Estimation of Heterogeneous Household Response to Time-Of-Use Electricity Pricing Schemes
econ.GN
We examine the household-specific effects of the introduction of Time-of-Use (TOU) electricity pricing schemes. Using a causal forest (Athey and Imbens, 2016; Wager and Athey, 2018; Athey et al., 2019), we consider the association between past consumption and survey variables, and the effect of TOU pricing on household...
economics
4,656
Religion and Terrorism: Evidence from Ramadan Fasting
econ.GN
We study the effect of religion and intense religious experiences on terrorism by focusing on one of the five pillars of Islam: Ramadan fasting. For identification, we exploit two facts: First, daily fasting from dawn to sunset during Ramadan is considered mandatory for most Muslims. Second, the Islamic calendar is not...
economics
4,657
Expropriations, Property Confiscations and New Offshore Entities: Evidence from the Panama Papers
econ.GN
Using the Panama Papers, we show that the beginning of media reporting on expropriations and property confiscations in a country increases the probability that offshore entities are incorporated by agents from the same country in the same month. This result is robust to the use of country-year fixed effects and the exc...
economics
4,658
Deep Neural Networks for Choice Analysis: A Statistical Learning Theory Perspective
econ.GN
While researchers increasingly use deep neural networks (DNN) to analyze individual choices, overfitting and interpretability issues remain as obstacles in theory and practice. By using statistical learning theory, this study presents a framework to examine the tradeoff between estimation and approximation errors, and ...
economics
4,659
The Case for Formation of ISP-Content Providers Consortiums by Nash Bargaining for Internet Content Delivery
econ.GN
The formation of consortiums of a broadband access Internet Service Provider (ISP) and multiple Content Providers (CP) is considered for large-scale content caching. The consortium members share costs from operations and investments in the supporting infrastructure. Correspondingly, the model's cost function includes m...
economics
4,660
Nighttime Light, Superlinear Growth, and Economic Inequalities at the Country Level
econ.GN
Research has highlighted relationships between size and scaled growth across a large variety of biological and social organisms, ranging from bacteria, through animals and plants, to cities an companies. Yet, heretofore, identifying a similar relationship at the country level has proven challenging. One reason is that,...
economics
4,661
Decision-making in Livestock Biosecurity Practices amidst Environmental and Social Uncertainty: Evidence from an Experimental Game
econ.GN
Livestock industries are vulnerable to disease threats, which can cost billions of dollars and have substantial negative social ramifications. Losses are mitigated through increased use of disease-related biosecurity practices, making increased biosecurity an industry goal. Currently, there is no industry-wide standard...
economics
4,662
Time will tell - Recovering Preferences when Choices are Noisy
econ.GN
The ability to uncover preferences from choices is fundamental for both positive economics and welfare analysis. Overwhelming evidence shows that choice is stochastic, which has given rise to random utility models as the dominant paradigm in applied microeconomics. However, as is well known, it is not possible to infer...
economics
4,663
A Simple Combinatorial Model of World Economic History
econ.GN
We use a simple combinatorial model of technological change to explain the Industrial Revolution. The Industrial Revolution was a sudden large improvement in technology, which resulted in significant increases in human wealth and life spans. In our model, technological change is combining or modifying earlier goods to ...
economics
4,664
Health Care Expenditures, Financial Stability, and Participation in the Supplemental Nutrition Assistance Program (SNAP)
econ.GN
This paper examines the association between household healthcare expenses and participation in the Supplemental Nutrition Assistance Program (SNAP) when moderated by factors associated with financial stability of households. Using a large longitudinal panel encompassing eight years, this study finds that an inter-tempo...
economics
4,665
Navigating the Cryptocurrency Landscape: An Islamic Perspective
econ.GN
Almost a decade on from the launch of Bitcoin, cryptocurrencies continue to generate headlines and intense debate. What started as an underground experiment by a rag tag group of programmers armed with a Libertarian manifesto has now resulted in a thriving $230 billion ecosystem, with constant on-going innovation. Scho...
economics
4,666
The effects of non-tariff measures on agri-food trade: a review and meta-analysis of empirical evidence
econ.GN
The increasing policy interests and the vivid academic debate on non-tariff measures (NTMs) has stimulated a growing literature on how NTMs affect agrifood trade. The empirical literature provides contrasting and heterogeneous evidence, with some studies supporting the standards as catalysts view, and others favouring ...
economics
4,667
Evolution and structure of technological systems - An innovation output network
econ.GN
This study examines the network of supply and use of significant innovations across industries in Sweden, 1970-2013. It is found that 30% of innovation patterns can be predicted by network stimulus from backward and forward linkages. The network is hierarchical, characterized by hubs that connect diverse industries in ...
economics
4,668
A possible alternative evaluation method for the non-use and nonmarket values of ecosystem services
econ.GN
Monetization of the non-use and nonmarket values of ecosystem services is important especially in the areas of environmental cost-benefit analysis, management and environmental impact assessment. However, the reliability of valuation estimations has been criticized due to the biases that associated with methods like th...
economics
4,669
The transmission of liquidity shocks via China's segmented money market: evidence from recent market events
econ.GN
This is the first study to explore the transmission paths for liquidity shocks in China's segmented money market. We examine how money market transactions create such pathways between China's closely-guarded banking sector and the rest of its financial system, and empirically capture the transmission of liquidity shock...
economics
4,670
Long-run Consequences of Health Insurance Promotion When Mandates are Not Enforceable: Evidence from a Field Experiment in Ghana
econ.GN
We study long-run selection and treatment effects of a health insurance subsidy in Ghana, where mandates are not enforceable. We randomly provide different levels of subsidy (1/3, 2/3, and full), with follow-up surveys seven months and three years after the initial intervention. We find that a one-time subsidy promotes...
economics
4,671
New dynamics of energy use and CO2 emissions in China
econ.GN
Global achievement of climate change mitigation will heavy reply on how much of CO2 emission has and will be released by China. After rapid growth of emissions during last decades, China CO2 emissions declined since 2014 that driven by decreased coal consumption, suggesting a possible peak of China coal consumption and...
economics
4,672
Lee-Carter method for forecasting mortality for Peruvian Population
econ.GN
In this article, we have modeled mortality rates of Peruvian female and male populations during the period of 1950-2017 using the Lee-Carter (LC) model. The stochastic mortality model was introduced by Lee and Carter (1992) and has been used by many authors for fitting and forecasting the human mortality rates. The Sin...
economics
4,673
Modelling Social Evolutionary Processes and Peer Effects in Agricultural Trade Networks: the Rubber Value Chain in Indonesia
econ.GN
Understanding market participants' channel choices is important to policy makers because it yields information on which channels are effective in transmitting information. These channel choices are the result of a recursive process of social interactions and determine the observable trading networks. They are character...
economics
4,674
Ordeal Mechanisms, Information, and the Cost-Effectiveness of Subsidies: Evidence from Subsidized Eyeglasses in Rural China
econ.GN
The cost-effectiveness of policies providing subsidized goods is often compromised by limited use of the goods provided. Through a randomized trial, we test two approaches to improve the cost-effectiveness of a program distributing free eyeglasses to myopic children in rural China. Requiring recipients to undergo an or...
economics
4,675
Shattering the glass ceiling? How the institutional context mitigates the gender gap in entrepreneurship
econ.GN
We examine how the institutional context affects the relationship between gender and opportunity entrepreneurship. To do this, we develop a multi-level model that connects feminist theory at the micro-level to institutional theory at the macro-level. It is hypothesized that the gender gap in opportunity entrepreneurshi...
economics
4,676
Influence of High-Speed Railway System on Inter-city Travel Behavior in Vietnam
econ.GN
To analyze the influence of introducing the High-Speed Railway (HSR) system on business and non-business travel behavior, this study develops an integrated inter-city travel demand model to represent trip generations, destination choice, and travel mode choice behavior. The accessibility calculated from the RP/SP (Reve...
economics
4,677
Apropiación privada de renta de recursos naturales? El caso del cobre en Chile
econ.GN
Unexpected increases of natural resource prices can generate rents, value that should be recovered by the State to minimize inefficiencies, avoid arbitrary discrimination between citizens and keep a sustainable trajectory. As a case study about private appropriation of natural resource rent, this work explores the case...
economics
4,678
Dynamic Programming with Recursive Preferences: Optimality and Applications
econ.GN
This paper provides new conditions for dynamic optimality in discrete time and uses them to establish fundamental dynamic programming results for several commonly used recursive preference specifications. These include Epstein-Zin preferences, risk-sensitive preferences, narrow framing models and recursive preferences ...
economics
4,679
Spreading of an infectious disease between different locations
econ.GN
The endogenous adaptation of agents, that may adjust their local contact network in response to the risk of being infected, can have the perverse effect of increasing the overall systemic infectiveness of a disease. We study a dynamical model over two geographically distinct but interacting locations, to better underst...
economics
4,680
Social security and labor absenteeism in a regional health service
econ.GN
Background: Absenteism can generate important economic costs. Aim: To analyze the determinants of the time off work for sick leaves granted to workers of a regional health service. Material and Methods: Information about 2033 individuals, working at a health service, that were granted at least one sick leave during 201...
economics
4,681
Estimating biomass migration parameters by analyzing the spatial behavior of the fishing fleet
econ.GN
In this study, a method will be developed and applied for estimating biological migration parameters of the biomass of a fishery resource by means of a decision analysis of the spatial behavior of the fleet. First, a model of discrete selection is estimated, together with patch capture function. This will allow estimat...
economics
4,682
Internal migration and education: A cross-national comparison
econ.GN
Migration the main process shaping patterns of human settlement within and between countries. It is widely acknowledged to be integral to the process of human development as it plays a significant role in enhancing educational outcomes. At regional and national levels, internal migration underpins the efficient functio...
economics
4,683
Growth, Industrial Externality, Prospect Dynamics, and Well-being on Markets
econ.GN
Functions or 'functionings' enable to give a structure to any activity and their combinations constitute the capabilities which characterize economic assets such as work utility. The basic law of supply and demand naturally emerges from that structure while integrating this utility within frames of reference in which c...
economics
4,684
Poverty, Income Inequality and Growth in Bangladesh: Revisited Karl-Marx
econ.GN
This study tries to find the relationship among poverty inequality and growth. The major finding of this study is poverty has reduced significantly from 2000 to 2016, which is more than 100 percent but in recent time poverty reduction has slowed down. Slower and unequal household consumption growth makes sloth the rate...
economics
4,685
Population Growth and Economic Development in Bangladesh: Revisited Malthus
econ.GN
Bangladesh is the 2nd largest growing country in the world in 2016 with 7.1% GDP growth. This study undertakes an econometric analysis to examine the relationship between population growth and economic development. This result indicates population growth adversely related to per capita GDP growth, which means rapid pop...
economics
4,686
Does Random Consideration Explain Behavior when Choice is Hard? Evidence from a Large-scale Experiment
econ.GN
We study population behavior when choice is hard because considering alternatives is costly. To simplify their choice problem, individuals may pay attention to only a subset of available alternatives. We design and implement a novel online experiment that exogenously varies choice sets and consideration costs for a lar...
economics
4,687
Revisiting Transformation and Directional Technology Distance Functions
econ.GN
In the first part of the paper, we prove the equivalence of the unsymmetric transformation function and an efficient joint production function (JPF) under strong monotonicity conditions imposed on input and output correspondences. Monotonicity, continuity, and convexity properties sufficient for a symmetric transformat...
economics
4,688
Thought Viruses and Asset Prices
econ.GN
We use insights from epidemiology, namely the SIR model, to study how agents infect each other with "investment ideas." Once an investment idea "goes viral," equilibrium prices exhibit the typical "fever peak," which is characteristic for speculative excesses. Using our model, we identify a time line of symptoms that i...
economics
4,689
Selling Wind
econ.GN
We offer a parsimonious model to investigate how strategic wind producers sell energy under stochastic production constraints, where the extent of heterogeneity of wind energy availability varies according to wind farm locations. The main insight of our analysis is that increasing heterogeneity in resource availability...
economics
4,690
E-commerce in Hungary: A Market Analysis
econ.GN
E-commerce is on the rise in Hungary, with significantly growing numbers of customers shopping online. This paper aims to identify the direct and indirect drivers of the double-digit growth rate, including the related macroeconomic indicators and the Digital Economy and Society Index (DESI). Moreover, this study provid...
economics
4,691
Methodological provisions for conducting empirical research of the availability and implementation of the consumers socially responsible intentions
econ.GN
Social responsibility of consumers is one of the main conditions for the recoupment of enterprises expenses associated with the implementation of social and ethical marketing tasks. Therefore, the enterprises, which plan to act on terms of social and ethical marketing, should monitor the social responsibility of consum...
economics
4,692
Digital Economy And Society. A Cross Country Comparison Of Hungary And Ukraine
econ.GN
We live in the Digital Age in which both economy and society have been transforming significantly. The Internet and the connected digital devices are inseparable parts of our daily life and the engine of the economic growth. In this paper, first I analyzed the status of digital economy and society in Hungary, then comp...
economics
4,693
The Institutional Economics of Collective Waste Recovery Systems: an empirical investigation
econ.GN
The main purpose of the study is to develop the model for transaction costs measurement in the Collective Waste Recovery Systems. The methodology of New Institutional Economics is used in the research. The impact of the study is related both to the enlargement of the limits of the theory about the interaction between t...
economics
4,694
The Impact Of Country Of Origin In Mobile Phone Choice Of Generation Y And Z
econ.GN
Mobile phones play a very important role in our life. Mobile phone sales have been soaring over the last decade due to the growing acceptance of technological innovations, especially by Generations Y and Z. Understanding the change in customers' requirement is the key to success in the smartphone business. New, strong ...
economics
4,695
Public Health and access to medicine. Pharmaceutical industry's role
econ.GN
Every year, 10 million people die from lack of access to treatment for curable diseases, specially in developing countries. Meanwhile, legal but unsafe drugs cause 130 thousand deaths per year. How can this be happening in 21st Century? What role does the pharmaceutical industry play in this tragedy? In this research, ...
economics
4,696
When does privatization spur entrepreneurial performance? The moderating effect of institutional quality in an emerging market
econ.GN
We explore how institutional quality moderates the effectiveness of privatization on entrepreneurs sales performance. To do this, we blend agency theory and entrepreneurial cognition theory with insights from institutional economics to develop a model of emerging market venture performance. Using data from the World Ba...
economics
4,697
Fuzzy Profit Shifting: A Model for Optimal Tax-induced Transfer Pricing with Fuzzy Arm's Length Parameter
econ.GN
This paper proposes a model of optimal tax-induced transfer pricing with a fuzzy arm's length parameter. Fuzzy numbers provide a suitable structure for modelling the ambiguity that is intrinsic to the arm's length parameter. For the usual conditions regarding the anti-shifting mechanisms, the optimal transfer price bec...
economics
4,698
How many people microwork in France? Estimating the size of a new labor force
econ.GN
Microwork platforms allocate fragmented tasks to crowds of providers with remunerations as low as few cents. Instrumental to the development of today's artificial intelligence, these micro-tasks push to the extreme the logic of casualization already observed in "uberized" workers. The present article uses the results o...
economics
4,699
Designing An Industrial Policy For Developing Countries: A New Approach
econ.GN
In this study, the prevalent methodology for design of the industrial policy in developing countries was critically assessed, and it was shown that the mechanism and content of classical method is fundamentally contradictory to the goals and components of the endogenous growth theories. This study, by proposing a new a...
economics