Hasil untuk "Economics"

Gustavo Bergantiños, Juan D. Moreno-Ternero

Sports are one of the most significant products of the entertainment industry, accounting for a large portion of all television (and even platform) viewing. Consequently, the sale of broadcasting and media rights is the most important source of revenue for professional sports clubs. We survey the economic literature dealing with this issue, with a special emphasis on the crucial problem that arises with the allocation of revenues when they are raised from the collective sale of broadcasting rights.

Almaz Abebe, Shenglan Yuanb, Daniel Tesfay et al.

This paper enhances the classical Solow model of economic growth by integrating Lévy noise, a type of non-Gaussian stochastic perturbation, to capture the inherent uncertainties in economic systems. The extended model examines the impact of these random fluctuations on capital stock and output, revealing the role of jump-diffusion processes in long-term GDP fluctuations. Both continuous and discrete-time frameworks are analyzed to assess the implications for forecasting economic growth and understanding business cycles. The study compares deterministic and stochastic scenarios, providing insight into the stability of equilibrium points and the dynamics of economies subjected to random disturbances. Numerical simulations demonstrate how stochastic noise contributes to economic volatility, leading to abrupt shifts and bifurcations in growth trajectories. This research offers a comprehensive perspective on the influence of external shocks, presenting a more realistic depiction of economic development in uncertain environments.

Xuezhen Ba, Yu Zhong

Fiscal transfers are a key policy instrument for supporting grain production, and a systematic assessment of their effects offers a critical basis for improving the design of incentive-based grain production policies. Unlike most existing studies, which primarily examine fiscal transfers from the perspective of improving farm households’ welfare and micro-level production decisions, this paper focuses on their impact on the grain production performance of major grain-producing counties, which account for over 80% of China’s grain output. Utilizing panel data from 1319 county-level units in China, this study employs a difference-in-differences (DID) approach to evaluate the impact of the “Reward Policy for Major Grain-Producing Counties (RPMGC)”, a central-to-county fiscal transfer program, on grain production. The empirical results indicate that: First, the reward policy significantly promotes grain production, and this finding remains robust across a series of robustness tests. Second, from a temporal perspective, the policy’s impact follows a trend of initially increasing and then decreasing over time, suggesting that the policy effects lack long-term sustainability. Third, mechanism analysis reveals that the policy enhances grain production by fostering technological advancement, mitigating production risks, and facilitating scaled-up production. Fourth, further analysis indicates that the policy effects are more pronounced in counties located within major grain-producing regions and those experiencing higher fiscal pressure. These findings provide valuable insights for improving the design of intergovernmental grain production incentives, refining grain production incentive mechanisms, and consolidating national food security.

Fenghua Wen, Xieyu Yin, Chufu Wen

We develop a theory of demand economics for an era of material abundance. The binding constraint on growth has shifted from insufficient aggregate demand to inadequate demand-tier upgrading. Our result is that, the new engine of growth lies in upgrading the demand hierarchy: higher-tier demands generate larger value-creation multipliers. The key mechanism is education-driven utility management. Education transforms the social utility function, raises the utility of higher-tier goods, and directs resources toward higher-value domains; this warrants a policy reorientation away from short-run aggregate stimulus toward education-centered, long-horizon investments in human capital. Methodologically, we build an estimable general-equilibrium framework.

Shujuan Ding, Ying Ruan, Lei Dou

In recent years, the essential roles of digital payment have gradually emerged. However, current research on digital payment adoption models rarely incorporates the outcomes of digital payment, and it also gives less consideration to rural residents. Considering these two issues as a research gap, this article establishes a unified digital payment use and credit availability model by extending the UTAUT2 framework in two aspects and applying it to China’s rural residents. The first extension is to add credit availability as an outcome variable of digital payment use. The second is to add two factors important to farmers, perceived riskiness and innovativeness, as constructs. Structural equation modeling is employed to analyze data collected from nearly 500 Chinese rural residents. The results show that almost 90% of rural residents have used digital payment. However, only a low proportion use it for many purposes or frequently. Rural residents’ digital payment use can increase credit availability. Performance expectancy, effort expectancy, social influence, price value, and innovativeness significantly and positively affect digital payment intention and behavior, thereby indirectly improving credit availability. However, the perceived risk does not influence digital payment adoption, possibly due to effective protective behaviors. In addition to the indirect effect, the results show that innovativeness also has a direct impact on credit availability. JEL Classification : M15, G21.

Françoise Okah Efogo, Paul Awoa Awoa

This article focuses on the challenges that uncertainty poses to countries in global and regional value chains. In this perspective, it focuses specifically on African countries and enriches the results with a comparative approach. Indeed, using a gravity model for 49 African countries and all their trading partners from 1990 to 2019, the paper proposes a comparative analysis of the effects of uncertainty on global trade in value chains and on trade in value chains within Africa. The robustness of the results shows that domestic uncertainty can drive the expansion of intra-African trade in value chains, while uncertainty in the partner country hinders the flourishing of trade relationships within a value chain.

Mohammad Mohi Uddin

Abstract The rapid advancement of Conversational AI tools like ChatGPT has sparked polarized debates in academia, particularly around issues of plagiarism, ownership, and bias. Unexamined misconceptions may hinder the effective integration of Conversational AI tools, limiting their potential to stimulate interactive and convergent learning experiences. This study investigates prevailing criticisms by infusing insights from theories of Mimesis from Greek philosophy, Value Creation from Economics, and Deconstruction from Western philosophy to provide a well-rounded perspective. Utilizing qualitative thematic coding, this review analysed 40 ChatGPT-related articles selected from an initial pool of 302 articles sourced from Scopus and Web of Science using a Boolean search. The PRISMA flowchart was employed to ensure transparency and rigor in the screening process. The review also integrated 14 theoretical and 10 methodology-focused studies. The findings revealed that: (i) nothing in the world is truly original except for Nature itself and knowledge derives from imitation and shared understanding; (ii) creation involves adaptation and transformation in response to user or contextual demands; and (iii) truth is multiple and resists rigid binary notions of right and wrong; which suggest that attributing blame to Conversational AI for plagiarism, ownership, or bias is unjustified. Conversational AI, when used with clear guidelines and thoughtful pedagogical strategies, can foster creativity through collaboration, enhance opportunities by synthesizing raw information, and elicit intellectual engagement by offering non-binary truths. The findings will help students, educators, and administrators cross-check the criticisms of Conversational AI tools and reshape attitudes to embrace their functional adaptability to enhance knowledge dissemination.

Ravi Jagadeesan, Alexander Teytelboym

This paper develops a theory of competitive equilibrium with indivisible goods based entirely on economic conditions on demand. The key idea is to analyze complementarity and substitutability between bundles of goods, rather than merely between goods themselves. This approach allows us to formulate sufficient, and essentially necessary, conditions for equilibrium existence, which unify settings with complements and settings with substitutes. Our analysis has implications for auction design.

Katsiaryna Bahamazava

We present a theoretical framework assessing the economic implications of bias in AI-powered emergency response systems. Integrating health economics, welfare economics, and artificial intelligence, we analyze how algorithmic bias affects resource allocation, health outcomes, and social welfare. By incorporating a bias function into health production and social welfare models, we quantify its impact on demographic groups, showing that bias leads to suboptimal resource distribution, increased costs, and welfare losses. The framework highlights efficiency-equity trade-offs and provides economic interpretations. We propose mitigation strategies, including fairness-constrained optimization, algorithmic adjustments, and policy interventions. Our findings offer insights for policymakers, emergency service providers, and technology developers, emphasizing the need for AI systems that are efficient and equitable. By addressing the economic consequences of biased AI, this study contributes to policies and technologies promoting fairness, efficiency, and social welfare in emergency response services.

Muhammad Hassan Bin Afzal

Economic hardships significantly affect public perception and voting intentions in general elections. The primary focus of my study is to capture the degree of influence that individual economic hardships have on their voting. I utilize the ANES 2024 Pilot Study1 Survey dataset and introduce a novel composite Inflation Behavior Index (IBR) that captures individuals' cumulative economic and cost of living experience. To that effect, the primary objectives of the current study are threefold: first, to develop a composite economic behavior index from available data and variables to capture the overall economic experience of U.S. individuals due to ongoing inflation; second, to examine how this economic behavior impacts political engagement and voting behavior utilizing appropriate and fitting mathematical models; and finally which specific personal experiences and perceptions about economy and cost of living likely to revoke party loyalty in upcoming U.S. presidential election. My study finds that increased personal economic struggles (pocketbook voting) due to inflation make it more likely for individuals to express an intention to vote against the Incumbent even if the Incumbent is from their self-identified political party. Conversely, having a negative perception of the national economy (sociotropic voting) is less likely to revoke party loyalty in the upcoming General election. In simpler terms, voters are more likely to vote along party lines even if they perceive their party (the Incumbent) is not handling the economy and cost of living well.

Janusz Antoni Strużyna

Objectives 1. identification of the core of the title process and its comparison with known types of patterns of improving management, 2. elaboration on the proposals and topics that enrich knowledge about the processes of HRM improvement, including the problem of institutional isomorphism. Material and methods Literature studies allowed us to identify patterns of organizational improvement change. The subject of empirical research was the content of Polish-language offers posted on websites for consulting companies improving Human Resources Management. The analysis was conducted based on content analysis guidelines. The obtained analysis results were compared with theoretical patterns of changes. In this way, the features of the examined core were identified. Results The identified core of dissemination consists of four phases and three processes with different logic. The interaction of processes can create inconsistency in the entire solution. The dominance of behaviors securing and facilitating HRM operations over other types of managerial behaviors was found. There are no methods of dealing with this asymmetry in the offers. Conclusions The inconsistencies between the core processes of pattern dissemination should encourage practitioners to determine their level of acceptance of the heterogeneity of patterns. For this, it is necessary to develop practical competencies in managing contradictions. Future research should provide a more complete understanding of the specificity of different sources of patterns, the nature of operations performed on patterns, and the identification of inconsistencies in the processes of pattern dissemination. It is also valuable to draw attention to the specific forces of institutional isomorphism that shape the similarity of patterns and ways of disseminating them

Florian Herbolsheimer, Annette Peters, Sarah Wagner et al.

Abstract Background The COVID-19 pandemic restrictions posed challenges to maintaining healthy lifestyles and physical well-being. During the first mobility restrictions from March to mid-July 2020, the German population was advised to stay home, except for work, exercise, and essential shopping. Our objective was to comprehensively assess the impact of these restrictions on changes in physical activity and sedentary behavior to identify the most affected groups. Methods Between April 30, 2020, and May 12, 2020, we distributed a COVID-19-specific questionnaire to participants of the German National Cohort (NAKO). This questionnaire gathered information about participants’ physical activity and sedentary behavior currently compared to the time before the restrictions. We integrated this new data with existing information on anxiety, depressive symptoms, and physical activity. The analyses focused on sociodemographic factors, social relationships, physical health, and working conditions. Results Out of 152,421 respondents, a significant proportion reported altered physical activity and sedentary behavioral patterns due to COVID-19 restrictions. Over a third of the participants initially meeting the WHO’s physical activity recommendation could no longer meet the guidelines during the restrictions. Participants reported substantial declines in sports activities (mean change (M) = -0.38; 95% CI: -.390; -.378; range from -2 to + 2) and reduced active transportation (M = -0.12; 95% CI: -.126; -.117). However, they also increased recreational physical activities (M = 0.12; 95% CI: .117; .126) while engaging in more sedentary behavior (M = 0.24; 95% CI: .240; .247) compared to pre-restriction levels. Multivariable linear and log-binomial regression models indicated that younger adults were more affected by the restrictions than older adults. The shift to remote work, self-rated health, and depressive symptoms were the factors most strongly associated with changes in all physical activity domains, including sedentary behavior, and the likelihood to continue following the physical activity guidelines. Conclusions Mobility patterns shifted towards inactivity or low-intensity activities during the nationwide restrictions in the spring of 2020, potentially leading to considerable and lasting health risks.

Miguel Fajardo-Steinhäuser

The last decades have seen a resurgence of armed conflict globally, renewing the need for durable peace agreements. In this paper, I evaluate the economic effects of the peace agreement between the Colombian government and the largest guerrilla group in the country, the FARC, ending one of the lengthiest and most violent armed conflicts in recent history. Using a difference-in-difference strategy comparing municipalities that historically had FARC presence and those with presence of a similar, smaller guerrilla group, the ELN, before and after the start of a unilateral ceasefire by the FARC, I establish three sets of results. First, violence indicators significantly and sizeably decreased in historically FARC municipalities. Second, despite this substantial reduction in violence, I find precisely-estimated null effects across several economic indicators, suggesting no effect of the peace agreement on economic activity. In addition, I use a sharp discontinuity in eligibility to the government's flagship firm and job creation program for conflict-affected areas to evaluate the policy's impact, also finding precisely-estimated null effects on the same economic indicators. Third, I present evidence that suggests the reason why historically FARC municipalities could not reap the economic benefits from the reduction in violence is a lack of state capacity, caused both by their low initial levels of state capacity and the lack of state entry post-ceasefire. These results indicate that peace agreements require complementary investments in state capacity to yield an economic dividend.

Nick Harkiolakis

A representation of economic activity in the form of a law of conservation of value is presented based on the definition of value as potential to act in an environment. This allows the encapsulation of the term as a conserved quantity throughout transactions. Marginal value and speed of marginal value are defined as derivatives of value and marginal value, respectively. Traditional economic statements are represented here as cycles of value where value is conserved. Producer-consumer dyads, shortage and surplus, as well as the role of the value in representing the market and the economy are explored. The role of the government in the economy is also explained through the cycles of value the government is involved in. Traditional economic statements and assumptions produce existing hypotheses as outcomes of the law of conservation of value.

Norzaidi Mohd Daud, Raja Nur Hannah Fatimah Raja Mohd Hashimb, Anis Irdina Yang Asri et al.

Purpose – The purpose of this paper is to examine the relationship between information commerce usage and purchase decisions made by university students during the COVID-19 pandemic. Design/Methodology/Approach – Survey questionnaires were distributed to students at public and private universities through a variety of online platforms. Data was collected from 151 respondents within a two-week period and analyzed using IBM Statistical Package for the Social Sciences (SPSS) Version 26 for descriptive (i.e., mean, standard deviation, reliability test, model fit test) and inferential (i.e., correlation and regression for hypotheses testing) purposes. Findings and implications – The findings indicate that, while students engage in information commerce for its convenience, their usage of it is unrelated to the degree of trust. Nonetheless, price comparison has a sizable influence on how information commerce is used. Additionally, information commerce usage has an effect on purchase intention, while purchase intention is found to be a significant predictor of purchase decisions. Limitation – This study examined factors that influence the usage of information commerce among students in Malaysian universities, as well as their purchase intention, on a rather small sample size. Originality – This may be the first study to define information commerce usage, with its results confirming students’ purchase behavior and demonstrating that online shopping simplifies their lives. Surprisingly, the findings suggest that the degree of trust does not influence the usage of information commerce. This contradicts previous studies conducted by Anas et al. (2021) and Viktoria et al. (2021).

Richard S. J. Tol

Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always negative. (2) The confidence interval about the estimates is much wider. (3) Elicitation methods are most pessimistic, econometric studies most optimistic. Two previous results remain: (4) The uncertainty about the impact is skewed towards negative surprises. (5) Poorer countries are much more vulnerable than richer ones. A meta-analysis of the impact of weather shocks reveals that studies, which relate economic growth to temperature levels, cannot agree on the sign of the impact whereas studies, which make economic growth a function of temperature change do agree on the sign but differ an order of magnitude in effect size. The former studies posit that climate change has a permanent effect on economic growth, the latter that the effect is transient. The impact on economic growth implied by studies of the impact of climate change is close to the growth impact estimated as a function of weather shocks. The social cost of carbon shows a similar pattern to the total impact estimates, but with more emphasis on the impacts of moderate warming in the near and medium term.

Viktor Stojkoski, Philipp Koch, César A. Hidalgo

To achieve inclusive green growth, countries need to consider a multiplicity of economic, social, and environmental factors. These are often captured by metrics of economic complexity derived from the geography of trade, thus missing key information on innovative activities. To bridge this gap, we combine trade data with data on patent applications and research publications to build models that significantly and robustly improve the ability of economic complexity metrics to explain international variations in inclusive green growth. We show that measures of complexity built on trade and patent data combine to explain future economic growth and income inequality and that countries that score high in all three metrics tend to exhibit lower emission intensities. These findings illustrate how the geography of trade, technology, and research combine to explain inclusive green growth.

Takuya Hara

Studies have evaluated the economic feasibility of 100% renewable power systems using the optimization approach, but the mechanisms determining the results remain poorly understood. Based on a simple but essential model, this study found that the bottleneck formed by the largest mismatch between demand and power generation profiles determines the optimal capacities of generation and storage and their trade-off relationship. Applying microeconomic theory, particularly the duality of quantity and value, this study comprehensively quantified the relationships among the factor cost of technologies, their optimal capacities, and total system cost. Using actual profile data for multiple years/regions in Japan, this study demonstrated that hybrid systems comprising cost-competitive multiple renewable energy sources and different types of storage are critical for the economic feasibility of any profile.

Sándor Juhász, Gergő Pintér, Ádám Kovács et al.

Cities host diverse people and their mixing is the engine of prosperity. In turn, segregation and inequalities are common features of most cities and locations that enable the meeting of people with different socio-economic status are key for urban inclusion. In this study, we adopt the concept of economic complexity to quantify the sophistication of amenity supply at urban locations. We propose that neighborhood complexity and amenity complexity are connected to the ability of locations to attract diverse visitors from various socio-economic backgrounds across the city. We construct the measures of amenity complexity based on the local portfolio of diverse and non-ubiquitous amenities in Budapest, Hungary. Socio-economic mixing at visited third places is investigated by tracing the daily mobility of individuals and by characterizing their status by the real-estate price of their home locations. Results suggest that measures of ubiquity and diversity of amenities do not, but neighborhood complexity and amenity complexity are correlated with the urban centrality of locations. Urban centrality is a strong predictor of socio-economic mixing, but both neighborhood complexity and amenity complexity add further explanatory power to our models. Our work combines urban mobility data with economic complexity thinking to show that the diversity of non-ubiquitous amenities, central locations, and the potentials for socio-economic mixing are interrelated.

Musonera Abdou, Edouard Musabanganji , Herman Musahara

The purpose of the current study was to determine factors affecting tourism demand using machine learning techniques. The results of different linear regression and random forest models on both the train and test sets were compared using RMSE and R2 . The random forest model outperformed the linear regression model on both the training and test sets. Climate, consumer price index, political stability, distance, promotion expenditure, and region of residence are all important factors in explaining total arrivals. The findings of the current research, therefore, provide additional evidence for the effectiveness of the AI based models to improve tourism demand forecasting compared to linear regression models.