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1.
Renewable energy is worldwide seen as a key element necessary to address climate change. However, finding socially acceptable locations for renewable energy facilities and the accompanying infrastructure increasingly often faces fierce opposition. This paper quantifies the landscape externalities of renewable energies employing a choice experiment. In addition, it is investigated how accounting for non-compensatory choice behavior, i.e. attribute cut-offs, affects welfare measures and subsequently policy recommendations. The empirical application is Germany where we conducted a nationwide survey on the development of renewable energies. We first show that cut-off elicitation questions prior to the choice experiment at least partially influence preferences. We further find that most participants state cut-off levels for attributes. Many are, however, at the same time willing to violate the self-imposed thresholds when choosing among the alternatives. To account for this effect, stated cut-offs are incorporated into a mixed logit model following the soft cut-off approach. Model results indicate substantial taste heterogeneity in preferences and in the use of cutoffs. Also, welfare estimates are substantially affected. We conclude that welfare changes from renewable energy development could be strongly underestimated when cut-offs are ignored.  相似文献   
2.
The aim of this paper is to investigate the impact of internal and external research collaborations on the scientific performance of academic institutions. The data are derived from the international SCOPUS database. We consider both quantity (the number of publications) and quality indicators (the field-weighted citation impact and the share of publications in the 10% most-cited articles) to evaluate universities' performance in some European countries (Germany, France, Italy, the UK and Russia). To this end, we develop a non-overlapping generations model to evidence the theoretical idea of research externalities between academic institutions. Moreover, we implement an empirical model to determine the extent to which the impact of internal and external collaborations on universities' performance is sensitive to the geographical dimension of the data.  相似文献   
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We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown [1968] researchers took as they sought to build on the foundation laid by Ball and Brown [1968] to create a body of research on the usefulness, timeliness, and other properties of accounting numbers. We discuss how those paths often link back to the groundwork laid and questions originally posed in Ball and Brown [1968].  相似文献   
5.
This paper endogenizes the number of firms in an industry with positive network effects, complete incompatibility, and firms that compete in quantity. To this end, we compare two possibilities: free entry and second‐best number of firms (the one that maximizes social welfare). We show that with business‐stealing competition, free entry yields, in general, more firms than the socially optimal solution. In addition, we find that by the nature of the industry with firm‐specific networks, total production may be greater or lower under free entry than with a regulator; moreover, some industries attain their maximum social welfare with a monopoly.  相似文献   
6.
‘Market failure’ is frequently offered as a justification for government intervention in the economy. Proponents of interventions can point to almost limitless examples of markets which do not meet all the criteria for Pareto optimality and argue that government taxation, subsidies or regulation can perfect them, maximising social welfare. But comparing market outcomes with an unattainable and unidentifiable ideal is not useful in a world of imperfect knowledge and government failure. It is better to compare market outcomes against realistic alternatives. Furthermore, even within the market failure paradigm, concepts such as ‘public goods’ and ‘negative externalities’ are routinely misunderstood and inconsistently applied. This leads to predictably poor policy outcomes.  相似文献   
7.
Positive uncertainty refers to uncertainty surrounding an anticipated positive outcome. It provides consumers with the opportunity to imagine and speculate on a product's or experience's potentially positive characteristics. Research has shown that when uncertainty is associated with something positive, consumers may prefer uncertainty to certainty. In a between-subjects experimental design with a large US (n = 446) and Japanese sample (n = 453), the present study demonstrates that positive uncertainty increases consumers’ positive feelings when they evaluate a product, particularly for high-involvement products that allow consumers to imagine and speculate about potentially positive product benefits. Unexpectedly, the study findings are consistent across the two different markets, which vary substantially in terms of consumers’ level of uncertainty avoidance. Specifically, results show that future-framed advertisements are effective in generating positive uncertainty and that positive uncertainty generates positive attitudes, both in countries scoring high (Japan) and low (USA) on uncertainty avoidance.  相似文献   
8.
The authors explored using a mobile application called DevelapMe for 278 business undergraduates in 54 teams to give real-time peer-based feedback during a 5-week group project. Two online surveys, Time 1 (T1) and Time 2 (T2), were administered. Results included finding three promising, new give-feedback scales: positive rating with comments, negative rating with comments, and negative/neutral rating without comments. Relationship conflict and task conflict were the outcomes. Relationship conflict significantly increased from T1 to T2. Only positive rating with comments had a significant relationship to T2 relational conflict and task conflict. Research exposing students to real-time feedback apps will prepare them for future work in teams.  相似文献   
9.
We examine how mandatory disclosure of corporate social responsibility (CSR) impacts firm performance and social externalities. Our analysis exploits China's 2008 mandate requiring firms to disclose CSR activities, using a difference-in-differences design. Although the mandate does not require firms to spend on CSR, we find that mandatory CSR reporting firms experience a decrease in profitability subsequent to the mandate. In addition, the cities most impacted by the disclosure mandate experience a decrease in their industrial wastewater and SO2 emission levels. These findings suggest that mandatory CSR disclosure alters firm behavior and generates positive externalities at the expense of shareholders.  相似文献   
10.
This article examines how investor sentiment affects positive feedback trading behavior. By analyzing the daily closing total return of CSI 300 index and its individual returns of stocks, we find that relatively high or low sentiment induces active positive feedback trading. With a specific indicator of sentiment, we explain the microstructure setting of the relationship between positive feedback trading and sentiment. We adopt the classical feedback model from Sentana and Wadhwani (1992) to measure positive feedback trading behavior. By adding sentiment factor to the model, we successfully explain how sentiment influences the behavior of both feedback traders and rational investors. The empirical findings suggest that positive feedback traders are more likely to trade when the prices of most securities move forward together. When the sentiment of feedback traders is at an intermediate level, the feedback trading behavior is insignificant.  相似文献   
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