The Best Things in Life Are Free? Does money buy happiness? Answers to this question differ, depending, in part, on whether one asks an economist or a psychologist. The former would point to correlations between higher incomes and greater self-reported well-being, whereas the latter would argue that happiness shows little correlation with absolute material goods and is instead dictated largely by an individual's so-called set-point. Another strand of research invokes a hedonic treadmill, whereby income matters until subsistence requirements are met, at which point comparisons with one's neighbors are what influence one's sense of life satisfaction. Oswald and Wu (p. 576, published online 17 December; see the Perspective by Layard) establish that the subjective responses from 1 million adults, collected within health surveys conducted by the U.S. Centers for Disease Control and Prevention, do indeed correlate with objective measures of quality of life. Subjective life-satisfaction scores agree with objective measures of well-being across 50 American states. A huge research literature, across the behavioral and social sciences, uses information on individuals’ subjective well-being. These are responses to questions—asked by survey interviewers or medical personnel—such as, “How happy do you feel on a scale from 1 to 4?” Yet there is little scientific evidence that such data are meaningful. This study examines a 2005–2008 Behavioral Risk Factor Surveillance System random sample of 1.3 million U.S. citizens. Life satisfaction in each U.S. state is measured. Across America, people’s answers trace out the same pattern of quality of life as previously estimated, from solely nonsubjective data, in one branch of economics (so-called “compensating differentials” neoclassical theory, originally from Adam Smith). There is a state-by-state match (r = 0.6, P < 0.001) between subjective and objective well-being. This result has some potential to help to unify disciplines.
The Indonesian cosmetic industry has begun to develop from year to year. However, the development of the cosmetic industry in Indonesia is also followed by internal and external challenges. The existence of competition with foreign markets, especially China, has made the cosmetic industry in Indonesia begin to be affected. If it is not immediately addressed, the Indonesian cosmetic industry can be defeated by the foreign cosmetic industry. This study aims to determine and analyze the influence of social media marketing variables, price perception, and product quality on purchasing decisions for Citra body scrub products in the city of Surabaya. Samples were taken using purposive sampling technique with a total of 112 respondents. Data collection was carried out by distributing questionnaires. The scale used in the questionnaire is a Likert scale of 1-5. The results of the questionnaire answers were analyzed using SmartPLS software. This study tests the hypothesis using the Structural Equation Model (SEM) technique with the Partial Least Square (PLS) analysis method. The results of this study indicate that social media marketing has a positive and significant effect on purchasing decisions. Price perception has a positive and significant effect on purchasing decisions. Product quality has a positive and significant effect on purchasing decisions.
RESUMO Este artigo discute a importância das diferenças entre teorias econômicas clássicas e marginalistas, com especial interesse no pensamento de David Ricardo. Vê-se que o elemento mais importante na distinção entre clássicos e marginalistas é a diferença na abordagem do mercado de trabalho. De fato, a determinação clássica da taxa salarial é nitidamente distinta da Teoria do Equilíbrio Geral, baseada no princípio da oferta e da demanda.
The article is aimed at identifying the peculiarities of financing shipping under conditions of uncertainty and analysing the sources of financing of shipping companies. Methodology. This study is based on the analysis of trends in the socio-economic, military-political and environmental situation, which cause global uncertainty and limit the ability of shipping companies to obtain external financing. The article compares the Petrofin Global Ship Finance Index with the dynamics of seaborne trade volumes for the period from 2008 to 2022, determines the correlation coefficient of these indicators and identifies the leaders among the banks-creditors of the shipping industry in terms of the volume of shipping loans in the loan portfolio. Results. The study shows a direct correlation between the shortage of shipping financing and the three main forms of global uncertainty. The results of comparing the Petrofin index with the growing dynamics of seaborne trade indicate a decrease in the role of banks and an increase in the role of alternative sources to cover the shortfall in shipping financing, such as raising resources from capital markets, financial and leasing companies, private equity funds, private equity and venture capital investments, investment platforms, hedge funds, state capital, and capital from international organisations. The main reasons for the change in the structure of shipping companies' funding sources are the conservative lending policy of banks in the crisis, tighter regulation, higher interest rates, lending only to borrowers with a positive credit history, and increased loan collateral requirements. Instead, the advantages of alternative sources of financing are flexibility, speed, less regulation compared to banks, the ability to provide large volumes, new types and forms of financing, and more competitive rates. Practical implications. The volatile external environment complicates the process of finding financing for shipping companies, which directly affects fleet renewal, the increase in the cost of ship construction and refurbishment, and the digital and environmental modernisation of shipping. Therefore, shipping companies should diversify their sources of financial resources, have a margin of safety in equity, and redistribute their borrowing portfolio between bank loans and alternative forms of financing. Value/Originality. The analysis of traditional and alternative sources of financing for shipping in the context of macroeconomic instability allows to identify key trends in investment policy towards shipping companies, to identify the specific needs of shipping companies in the face of various forms of global uncertainty and to outline the features of the most common sources of financing.
The article discusses the terminology system of the digital state that emerged in Ukraine in the first decades of the 21st century and is associated with the digitization of all services that it provides to a person to facilitate paperwork in all spheres of life. It is clear that gadgets in all their forms and models have filled our existence. We cannot do without them today, either in our public or personal lives. Gadgets are used today by everyone: children, teenagers, workers in various fields of education, science, technology, production, everyday life, and the elderly - pensioners. With a smartphone, you can order train or plane tickets, pay for utilities, order medicines or products, and receive medical services. And today, when Ukraine is under martial law - to get a certificate about relatives or loved ones, help for refugees, to register for military, medical or other registration. Digital transformations actively meet the needs of creating a holistic mechanism of modern changes, which falls within the competence of the Ministry of Digital Transformation of Ukraine. Terms and their concepts are of interest from the point of view of the processes of forming mechanisms of state administration, the penetration of reforms into various spheres: law, economics, education, science, culture, production, everyday life, etc. The author turns to the analysis of the terminology of the Internet portal and the information content of digital transformation projects, taking into account their specifics. Having familiarized himself with important state documents, he collected and processed lexemes and their compounds related to the digitalization of the state, by structure, origin, clarified the meanings and models of the most used terms in this area. An excursion was made into the history of this industry, the main stages of its formation and establishment were outlined. The object of description was the terminology system of the newest scientific and practical sphere, and the subject was its specialized vocabulary. Since this is a relatively new scientific practice, then all members of society are involved in it, and it will be useful for both Ukrainians and foreigners to get acquainted with its basic concepts and terms. This will become the topic and subject of lectures, practical classes, conversations, dialogues, advice, discussions, disputes, prompts, recommendations. Key words: digital state, terminology of digitalization, ukrainian language.
Emanuel Kulczycki, Tim C. E. Engels, Janne Pölönen
et al.
This study investigates patterns in the language and type of social sciences and humanities (SSH) publications in non-English speaking European countries to demonstrate that such patterns are related not only to discipline but also to each country’s cultural and historic heritage. We investigate publication patterns that occur across SSH publications of the whole of the SSH and of economics and business, law, and philosophy and theology publications in the Czech Republic, Denmark, Finland, Flanders (Belgium), Norway, Poland, Slovakia, and Slovenia. We use data from 74,022 peer-reviewed publications from 2014 registered in at least one of the eight countries’ national databases and for 272,376 peer-reviewed publications from the period of 2011–2014 registered in at least one of the seven countries’ national databases (for all countries except Slovakia). Our findings show that publication patterns differ both between fields (e.g. patterns in law differ from those in economics and business in the same way in Flanders and Finland) and within fields (e.g. patterns in law in the Czech Republic differ from patterns in law in Finland). We observe that the publication patterns are stable and quite similar in West European and Nordic countries, whereas in Central and Eastern European countries the publication patterns demonstrate considerable changes. Nevertheless, in all countries, the share of articles and the share of publications in English is on the rise. We conclude with recommendations for science policy and highlight that internationalization policies in non-English speaking countries should consider various starting points and cultural heritages in different countries.
Fabio Della Rossa, L. Pecora, Karen A Blaha
et al.
Real-world systems in epidemiology, social sciences, power transportation, economics and engineering are often described as multilayer networks. Here we first define and compute the symmetries of multilayer networks, and then study the emergence of cluster synchronization in these networks. We distinguish between independent layer symmetries, which occur in one layer and are independent of the other layers, and dependent layer symmetries, which involve nodes in different layers. We study stability of the cluster synchronous solution by decoupling the problem into a number of independent blocks and assessing stability of each block through a Master Stability Function. We see that blocks associated with dependent layer symmetries have a different structure to the other blocks, which affects the stability of clusters associated with these symmetries. Finally, we validate the theory in a fully analog experiment in which seven electronic oscillators of three kinds are connected with two kinds of coupling. Complex systems in the real world are often characterized by connected patterns interacting between each other in multiple ways. Here, Della Rossa et al. describe a general method to determine symmetries in multilayer networks and then relate them to different synchronization modes that the networks can exhibit.
A special impact on the evolution of globalization was produced by the Covid-19 Pandemic that redefined
priorities, limited the use of global value chains, discussed the safety of continuing economic activities and reduced the
absolutization of profit maximization. The article presents the systemic changes in the world economy with a focus on
the world market of lithium as a result of the manifestation of a global phenomena.
Commercial geography. Economic geography, Economics as a science
У роботі розглянуто науково-методичні підходи до висвітлення проблем аналітичного характеру щодо підвищення конкурентоспроможності підприємств готельного господарства в умовах євроінтеграції. В останні роки в країні зростає кількість готелів, що зумовлює жорстку конкуренцію над ринком готельних послуг. Відмітимо, що конкуренція – серйозний стимул для підвищення якості роботи готелю яка є однією з умов європейського напряму розвитку. Дана обставина пояснює необхідність належних змін у системі та методах управління готелями незалежно від їх розмірів та класу наданих послуг. Зазначимо, що у кожній сфері діяльності готелю (сервіс, менеджмент, фінансове управління, маркетинг, кадровий потенціал, якість послуг тощо) закладені певні конкурентні переваги, тобто резерви підвищення конкурентоспроможності.
The article discusses the theoretical foundations of the functioning of currency markets. Classification of types of currency transactions according to the legislation of the Russian Federation is given. The article highlights the impact of financial globalization on the Russian currency market. The article considers the trends that take place in the foreign exchange market in modern conditions of digitalization. The article focuses on the accelerated development of digital currencies in modern conditions, including the review of the «Digital ruble «Report prepared by the Central Bank of the Russian Federation for public consultations, which reflects the main prerequisites for creating a domestic digital currency.
Tržišta električne energije u zemljama zapadnog Balkana i dalje nisu u potpunosti liberalizovana, pa se stoga mogu uočiti različiti stepeni otvorenosti tržišta električne energije od zemlje do zemlje, pa čak i unutar zemlje, za šta je Bosna i Hercegovina očigledan primjer. U Republici Srpskoj, formalno-pravni uslovi za otpočinjanje procesa otvaranja tržišta električne energije su se stekli stupanjem na snagu Zakona o električnoj energiji, krajem 2007. godine i Pravilnikom o snabdijevanju kvalifikovanih kupaca i postupku promjene snabdjevača, koji je stupio na snagu krajem 2014. godine. Ipak do otpočinjanja stvarnog procesa otvaranja tržišta električne energije nije došlo sve do stupanja na snagu Pravilnika o izmjenama i dopunama Pravilnika o snabdijevanju kvalifikovanih kupaca i postupku promjene snabdjevača, koji je stupio na snagu u martu 2019. godine. U radu se najprije ispituju i analiziraju do sada sprovedene aktivnosti na liberalizaciji tržišta električnom energijom, i daje ocjena u pogledu dosadašnjih rezultata. Dalje se analiziraju potrebni uslovi i pitanja koja se nameću pred sprovođenje daljeg otvaranja tržišta električne energije u Republici Srpskoj. Na kraju, u tekstu se analiziraju najvažnije aktivnosti koje očekuju sve relevantne činioce, u prvom redu Vladu RS, potom resorno ministarstvo i RERS, snabdjevače kao i privredne subjekte koji aktivno učestvuju u oblikovanju tržišta električne energije u cilju pripreme tržišta za dalje otvaranje i ostvarenja uslova za njeno uspješno okončanje
Energy industries. Energy policy. Fuel trade, Economics as a science
The Spin Physics Detector, a universal facility for studying the nucleon spin structure and other spin-related phenomena with polarized proton and deuteron beams, is proposed to be placed in one of the two interaction points of the NICA collider that is under construction at the Joint Institute for Nuclear Research (Dubna, Russia). At the heart of the project there is huge experience with polarized beams at JINR. The main objective of the proposed experiment is the comprehensive study of the unpolarized and polarized gluon content of the nucleon. Spin measurements at the Spin Physics Detector at the NICA collider have bright perspectives to make a unique contribution and challenge our understanding of the spin structure of the nucleon. In this document the Conceptual Design of the Spin Physics Detector is presented.