Motivated by the emerging adoption of Large Language Models (LLMs) in economics and management research, this paper investigates whether LLMs can reliably identify corporate greenwashing narratives and, more importantly, whether and how the greenwashing signals extracted from textual disclosures can be used to empirically identify causal effects. To this end, this paper proposes DeepGreen, a dual-stage LLM-Driven system for detecting potential corporate greenwashing in annual reports. Applied to 9369 A-share annual reports published between 2021 and 2023, DeepGreen attains high reliability in random-sample validation at both stages. Ablation experiment shows that Retrieval-Augmented Generation (RAG) reduces hallucinations, as compared to simply lengthening the input window. Empirical tests indicate that "greenwashing" captured by DeepGreen can effectively reveal a positive relationship between greenwashing and environmental penalties, and IV, PSM, Placebo test, which enhance the robustness and causal effects of the empirical evidence. Further study suggests that the presence and number of green investors can weaken the positive correlation between greenwashing and penalties. Heterogeneity analysis shows that the positive relationship between "greenwashing - penalty" is less significant in large-sized corporations and corporations that have accumulated green assets, indicating that these green assets may be exploited as a credibility shield for greenwashing. Our findings demonstrate that LLMs can standardize ESG oversight by early warning and direct regulators' scarce attention toward the subsets of corporations where monitoring is more warranted.
The rapid rise of AI-based autonomous agents is transforming human society and economic systems, as these entities increasingly exhibit human-like or superhuman intelligence. From excelling at complex games like Go to tackling diverse general-purpose tasks with large language and multimodal models, AI agents are evolving from specialized tools into dynamic participants in social and economic ecosystems. Their autonomy and decision-making capabilities are poised to impact industries, professions, and human lives profoundly, raising critical questions about their integration into economic activities, potential ethical concerns, and the balance between their utility and safety. To address these challenges, this paper presents ten principles of AI agent economics, offering a framework to understand how AI agents make decisions, influence social interactions, and participate in the broader economy. Drawing on economics, decision theory, and ethics, we explore fundamental questions, such as whether AI agents might evolve from tools into independent entities, their impact on labor markets, and the ethical safeguards needed to align them with human values. These principles build on existing economic theories while accounting for the unique traits of AI agents, providing a roadmap for their responsible integration into human systems. Beyond theoretical insights, this paper highlights the urgency of future research into AI trustworthiness, ethical guidelines, and regulatory oversight. As we enter a transformative era, this work serves as both a guide and a call to action, ensuring AI agents contribute positively to human progress while addressing risks tied to their unprecedented capabilities.
The state of economic theory and accumulated facts from the different branches of the economic science require to analyze the concept of the description of economy systems. The economic reality generates the problems the solution of that is only possible by a new paradigm of the description of economy system. The classical mathematical economics is based on a notion of the rational consumer choice generated by a certain preference relation on some set of goods a consumer wanted and the concept of maximization of the firm profit. The sense of the notion of the ratio- nal consumer choice is that it is determined by a certain utility function, defining the choice of a consumer by maximization of it on a certain budget set of goods. More- over, choices of consumers are independent. In the reality choices of consumers are not independent because they depend on the firms supply. Except the firms supply, the consumer choice is also determined by information about the state of the economy system that the consumer has and respectively eval- uates at the moment of the choice. In turn, the firms supply is made on the basis of needs of the consumers and their buying power. By information about the state of the economy system we understand a certain information about the equilibrium price vector and productive processes realized in the economy system under the equilibrium price vector.
IntroductionEndoscopic screening for upper gastrointestinal cancer (UGC) is effective, but it's cost-utility across comprehensive strategies remains unclear. We aimed to assess the cost-utility of various endoscopic screening strategies for UGC within the Chinese health care system.MethodsThis study assessed the cost-utility of 40 endoscopic screening strategies using a Markov model. Strategies varied by starting ages (40, 45, 50, or 55 years), screening frequencies (once per lifetime, every 1, 2, 5, 10, or 15 years), and follow-up options. Model parameters were estimated based on our survey data, public surveillance data and published literature. The primary outcome was the incremental cost-utility ratios (ICUR). Deterministic and probabilistic sensitivity analyses were performed to examine key parameters uncertainty.ResultsSeven strategies were identified as the dominant strategies given one-time per capita GDP (¥70,653) of Shandong province in China in 2019. Compared with no screening, all dominant strategies were associated with improved ICUR by CNY ¥12 095.60–31 456.29 per quality-adjusted life years (QALY). Compared with the neighboring strategy, all dominant strategies were associated with improved ICUR by CNY ¥12 095.6266 764.06 per QALY. The y40-nf-il would be the most cost-utility strategy, with probabilities of 42%−95% at 1–3 times the per capita GDP. Findings were robust in all sensitivity analysis.ConclusionsComprehensive endoscopic screening strategies for UGC are cost-effective within the Chinese healthcare system. Annual screening starting at age 40 without follow-up emerges as the optimal approach, offering valuable evidence to guide policy development for UGC prevention and control in China.
Shaoming Han, Cheng Qian, Nawal Abdalla Adam
et al.
This study examines the impact of financial inclusion on bank stability across 36 emerging economies, utilizing bank-level data from over 1,500 commercial banks spanning the period 2004 to 2023. Despite the recognized benefits of financial inclusion, its influence on banking stability remains complex and context dependent. The research employs advanced econometric methodologies, including fixed-effects models, Driscoll-Kraay standard errors to address heteroskedasticity and cross-sectional dependence, and system Generalized Method of Moments (GMM) estimation to control for endogeneity and dynamic effects. The findings reveal that financial inclusion generally enhances bank stability and positively influences operational efficiency and funding stability. However, during periods of lax financial regulations or excessive government intervention, banks may engage in riskier behaviors, potentially undermining stability. Key results indicate that (1) robust economic growth and stable policy environments amplify the positive effects of financial inclusion on bank stability, (2) excessive government control may foster risk-taking behaviors, (3) strong financial conditions mitigate adverse impacts, (4) financial inclusion improves risk management and operational efficiency, and (5) effective regulatory frameworks are pivotal in leveraging financial inclusion for sound banking operations. These insights suggest that policymakers in emerging markets should carefully balance the promotion of financial inclusion with safeguards that maintain financial stability.
Small peptides, particularly tripeptides, play a crucial role in food umami taste. To dig for more umami tripeptides, the novel tripeptides pharmacophore model was established to rapidly screen umami peptides from natural tripeptide database. Twenty peptides with potential umami characteristics from 8000 tripeptides were further screened by molecular docking. The electronic tongue analysis and sensory evaluation suggested that the 20 tripeptides exhibited umami taste characteristics. The thresholds of the 20 tripeptides spanned from 0.137 to 2.237 mmol/L. Molecular dynamics simulations were used on T1R1 and four tripeptides with high umami intensity to reveal their taste mechanisms. In this study, a new screening strategy was established and 20 new umami tripeptides were identified and validated, providing a theoretical reference for rapid screening of umami tripeptides.
Nutrition. Foods and food supply, Food processing and manufacture
This paper introduces a novel multi-moment connectedness network approach for analyzing the interconnectedness of green financial market. Focusing on the impact of monetary policy shocks, our study reveals that connectedness within the green bond and equity markets varies with different moments (returns, volatility, skewness, and kurtosis) and changes significantly around Federal Open Market Committee (FOMC) events. Static analysis shows a decrease in connectedness with higher moments, while dynamic analysis highlights increased sensitivity to event-driven shocks. We find that both tight and loose monetary policy shocks initially elevate connectedness within the first six months. However, the effects of tight shocks gradually fade, whereas loose shocks may reduce connectedness after one year. These results offer insight to policymakers in regulating sustainable economies and investment managers in strategizing asset allocation and risk management, especially in environmentally focused markets. Our study contributes to understanding the complex dynamics of the green financial market in response to monetary policies, helping in decision-making for sustainable economic development and financial stability.
The subject-matter and aim of this paper is to present the extent of poverty and economic and social exclusion in the countries of the European Union (EU-27). The specific aim is the comparative assessment and reduction of these processes between 2011 and 2022.
Regional economics. Space in economics, Economics as a science
In recent years, there has been a concerning surge in waste generation, with agri-food waste emerging as a significant issue across various stages of the food supply chain [...]
Muhammadjon Tursunov, Khabibullo Sabirov, Ramazon Alikulov
et al.
The results obtained on the photoelectric battery (PVB) and photothermal battery (PTB) based on a new type of autonomous moving cooling system photothermal devices (PTD) are presented in this research work. This new type of device (PTD) is self-cooling and has the ability to provide hot water for the village residents while increasing the efficiency of the PTB. There was created a new experimental copy of the device with a power of 300 W based on the design of the PTD with a new type of cooling system with a power of 60 W mentioned in previous scientific research. It consists of a 180 W PVB, a 60A•h battery, a 2kW inverter, a 50A controller, a radiator for cooling hot water, 5 cooling fans, a pump, and a cart-shaped structure for their installation. It is possible to get results in two different situations in the experimental copy with a new type of cooling system. It is possible to increase the efficiency of PTD by fully using the cooling system, and to obtain hot water for the household without a sharp decrease in efficiency by partially using the cooling system. There is mentioned a study of hot water regimes with a temperature of 40-50 0C for the agricultural sector, depending on the intensity of solar radiation and ambient temperature. Preliminary tests showed that the power of the PTD differs from the power of the PVB by up to 70 W. This new PTD showed that it is possible to use it in many other cases, such as water supply, lighting, watching TV, listening to the radio, using a refrigerator, charging computers and phones in rural areas.
This note reproduces a brief article by Thomas Nixon Carver, a leading Progressive Era American economist on what was then called the ‘Negro Question’. This virtually unknown piece represents a striking instance of blaming the victim for her/his condition which is to be found in the economic literature of the period.
Romina D. Fernandez, Phillip J. Haubrock, Ross N. Cuthbert
et al.
Abstract The high ecological impacts of many invasive alien trees have been well documented. However, to date, we lacked synthesis of their economic impacts, hampering management actions. Here, we summarize the cost records of invasive trees to (I) identify invasive trees with cost information and their geographic locations, (II) investigate the types of costs recorded and sectors impacted by invasive trees and (III) analyze the relationships between categories of uses of invasive trees and the invasion costs attributed to these uses. We found reliable cost records only for 72 invasive trees, accumulating a reported total cost of $19.2 billion between 1960 and 2020. Agriculture was the sector with the highest cost records due to invasive trees. Most costs were incurred as resource damages and losses ($3.5 billion). Close attention to the ornamental sector is important for reducing the economic impact of invasive trees, since most invasive trees with cost records were introduced for that use. Despite massive reported costs of invasive trees, there remain large knowledge gaps on most invasive trees, sectors, and geographic scales, indicating that the real cost is severely underestimated. This highlights the need for further concerted and widely-distributed research efforts regarding the economic impact of invasive trees.
У статті розкрито сутність концепції Кайдзен. Першочерговий аспект зосереджено на теоретичній базі, зокрема, підкреслено важливість безперервного вдосконалення процесів виробництва, розробки допоміжних бізнес-процесів, управління ними. Представлено взаємозв’язок Кайдзену з теорією загального управління якістю (ТQM), що дозволяє виокремити три основні напрями функціонування з орієнтацією на якість. Розкрито практичні аспекти реалізації Lean Production (LP) та Just-in-time (JIT) на основі Кайдзену. Пріоритетну роль в дослідженні відведено Інституту Кайдзену, який зосереджує свою увагу на навчанні, сертифікації та бенчмаркінгу у напрямі Кайдзен. Підкреслено важливість розроблення моделі TFL, яка дає можливість покращити процеси в цілому ланцюгу постачання. Окреслено нові прогресивні напрями розвитку даної концепції (Гемба Кайдзен, Бліц Кайдзен).
The purpose of this study is to measure the benefits and costs of using biochar, a carbon sequestration technology, to reduce the B.C Wine Industry's carbon emissions. An economic model was developed to calculate the value-added for each of the three sectors that comprise the BC Wine industry. Results indicate that each sector of the wine value chain is potentially profitable, with 9,000 tonnes of CO2 sequestered each year. The study is unique in that it demonstrates that using biochar, produced from wine industry waste, to sequester atmospheric CO2 can be both profitable and environmentally sustainable.
A thermodynamic approach to the description of economic systems and processes is developed. It is shown that there is a deep analogy between the parameters of thermodynamic and economic systems (markets); so each thermodynamic parameter can be associated with a certain economic parameter or indicator. The economic meaning of such primordially thermodynamic concepts as internal energy and temperature has been established. It is shown that many economic laws, which in economic theory are a generalization of the results of observations, or are based on the analysis of the psychology of the behavior of market actors, within the framework of economic thermodynamics can be obtained as the natural and formal results of the theory. In particular, we show that economic thermodynamics allows a natural description of such a phenomenon as inflation. The thermodynamic conditions of market equilibrium stability are derived and analyzed, as well as the Le Chatelier's principle as applied to economic systems.
Viet-Ngu HOANG, Trung Thanh NGUYEN, Clevo WILSON
et al.
The Vietnamese agricultural sector has experienced a dramatic structural change based on increased specialization in rice cultivation. However, small-scale rice-farmers have continued to grow multiple crops, especially in less developed provinces. While the literature advocates crop diversification for reasons of both economic and ecological sustainability, there lacks empirical evidence as to whether crop diversification brings efficiency and productivity gains to small farms. The present study is the first applications of the input-oriented stochastic distance function approach in estimating scale and scope economies using data of multi-crop farming households in Vietnam. We find strong evidence of product-specific economies of scale. Scope economies are also present for rice, vegetable, and other annual crop production. This suggests that crop diversification enhances efficiency and productivity. However, there still exists significant technical inefficiency in crop production, indicating opportunities to expand farm output at the existing level of inputs and technologies. More specifically, our empirical results indicate that it is desirable to expand vegetable and other annual crop production in mountainous areas while rice cultivation can be further expanded in delta and coastal regions.
Sonja Radosavljevic, L. Jamila Haider, Steven J. Lade
et al.
Most of the world poorest people come from rural areas and depend on their local ecosystems for food production. Recent research has highlighted the importance of self-reinforcing dynamics between low soil quality and persistent poverty but little is known on how they affect poverty alleviation. We investigate how the intertwined dynamics of household assets, nutrients (especially phosphorus), water and soil quality influence food production and determine the conditions for escape from poverty for the rural poor. We have developed a suite of dynamic, multidimensional poverty trap models of households that combine economic aspects of growth with ecological dynamics of soil quality, water and nutrient flows to analyze the effectiveness of common poverty alleviation strategies such as intensification through agrochemical inputs, diversification of energy sources and conservation tillage. Our results show that (i) agrochemical inputs can reinforce poverty by degrading soil quality, (ii) diversification of household energy sources can create possibilities for effective application of other strategies, and (iii) sequencing of interventions can improve effectiveness of conservation tillage. Our model-based approach demonstrates the interdependence of economic and ecological dynamics which preclude blanket solution for poverty alleviation. Stylized models as developed here can be used for testing effectiveness of different strategies given biophysical and economic settings in the target region.