Exchange Rate Pass-Through to Consumer Prices: The Increasing Role of Energy Prices

Open Economies Review - A number of researchers have found that the rate of exchange rate pass-through (ERPT) to domestic prices has declined substantially over the last few decades. We revisit...     

Transfer Fees in Professional Soccer

International Advances in Economic Research -     

Digital sport entrepreneurial ecosystems

The entrepreneurial ecosystems literature has increasingly explored network relationships between different stakeholders, as well as the role of context. This article addresses the challenge of including a sport context in the entrepreneurial ecosystem literature thereby contributing to the sport entrepreneurship literature by bringing insights from entrepreneurship ecosystem research. In‐depth interviews of football stakeholders in the sport entrepreneurship ecosystem are conducted in terms of understanding the emergence of digital sport start‐ups. The issues raised help explore the changing nature of digital entrepreneurial ecosystems to take into account new sport technological advances. Mixed embeddedness theory is used as the conceptual foundation to understand sport digital entrepreneurial ecosystems. Key management practices are identified in terms of sport start‐ups participating in entrepreneurial ecosystems. The article concludes by making suggestions for future research.     

INFORMATION AND PRICE DISPERSION: THEORY AND EVIDENCE

Limited information is the key element generating price dispersion in models of homogeneous-goods markets. We show that the global relationship between information and price dispersion is an inverse-U shape. We test this mechanism for the retail gasoline market using a new measure of information based on commuter data from Austria. Commuters sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. Our empirical estimates are in line with the theoretical predictions. We also quantify how information affects average prices paid and the distribution of surplus in the gasoline market.     

Payments for ecosystem services and corporate social responsibility: Perspectives on sustainable production,stakeholder relations,and philanthropy in Thailand

Payments for ecosystem services (PES) are environmental management tools that enable corporations to simultaneously enhance their environmental performance and fund sustainable development in rural areas. PES is primarily promoted as part of a sustainable production strategy for conserving natural resources, offsetting carbon emissions, and green supply chain management. Nevertheless, PES uptake by the private sector remains low, and few studies have analysed whether corporate‐financed PES schemes conform to this rationale. This study evaluates three of the first PES schemes in Thailand, financed by large corporations in the water utilities, aquaculture, and beverage sectors. Interviews with 39 business managers and project stakeholders suggest that PES may be viewed as a tool for philanthropy, public relations, and gaining license to operate—akin to many corporate social responsibility initiatives. Explanations and ramifications are discussed in the context of ecological uncertainty, risk management, financial performance, organisational learning, and the corporate‐engagement strategies of non‐governmental organisations.     

Modeling and Extrapolating Wheat Producer Support Using Income and Other Factors

Using wheat market support data from 55 countries for 1961–2011 from the World Bank Agricultural Distortion database, we develop a fixed effect model that shows a more complicated, nonlinear relationship between income and wheat support and its components than previously realised. We find that income generally has a greater effect on border market price support than on domestic price support. Moreover, the difference between these types of support is greater for net importers than for net exporters and has increased with the URAA or WTO accession. Holding other variables constant, the wheat support level of China, driven mainly by border market price support, is projected to rise with future income growth. Meanwhile, Japan is projected to maintain its high level of support, while the US and EU are projected to maintain their lower levels of support. These results are relevant in the context of multilateral trade negotiations, arguing against a narrow focus on past or current policy profiles and for long‐run analyses that might mistakenly rest on the inconsistent assumptions of constant agricultural policies against the backdrop of rising incomes.     

Innovation Economy,Productive Public Expenditure and Economic Growth

Multidisciplinary innovation is the main engine of growth for an increasing number of economies. Innovation requires the participation of and interaction between all economic agents. It also requires public spending on education, research and infrastructures. Our main goal is to emphasize the government's role in a growing innovation economy. Developing a non‐scale, idea‐based, one‐sector growth model with complementarities and productive public expenditure, we analyse theoretically the growth effects of an increase in productive public expenditure, which we find positive in the short, medium and long run.     

A probabilistic ghost in the experimental machine

This paper focuses on the opposition between two contemporary research programs in economics: behavioral economics (BE) and experimental market economics (EME). Our claim is that the arguments of this opposition can be clarified through the lens of another opposition in the philosophy of probability and in probability theory, between Bayesianism and frequentism. We show how this probabilistic opposition has indirectly shaped a controversy in psychology that opposes two research programs – Heuristics and Biases and Ecological Rationality – which play respective roles in the foundations of individual rationality in BE and EME. To understand these theoretical interrelationships, we investigate the 1996 controversy between Kahneman, Tversky, and Gigerenzer. Those psychologists held different views on how probabilistic representations influence the context-dependency of rationality. This provides a rationale to suggest that a probabilistic ghost may be haunting the experimental machine in economics, and explains how and why the oppositions between BE and EME are structured around the interplay between the norms of rationality and the context in which rationality is exercised.     

Opportunities to reduce road traffic injury: new insights from the study of urban areas

Abstract

Over the past four decades considerable efforts have been taken to mitigate the growing burden of road injury. With increasing urbanisation along with global mobility that demands not only safe but equitable, efficient and clean (reduced carbon footprint) transport, the responses to dealing with the burgeoning road traffic injury in low- and middle-income countries has become increasingly complex. In this paper, we apply unique methods to identify important strategies that could be implemented to reduce road traffic injury in the Asia-Pacific region; a region comprising large middle-income countries (China and India) that are currently in the throes of rapid motorisation. Using a convolutional neural network approach, we clustered countries containing a total of 1632 cities from around the world into groups based on urban characteristics related to road and public transport infrastructure. We then analysed 20 countries (containing 689 cities) from the Asia-Pacific region and assessed the global burden of disease attributed to road traffic injury and these various urban characteristics. This study demonstrates the utility of employing image recognition methods to discover new insights that afford urban and transport planning opportunities to mitigate road traffic injury at a regional and global scale.     

Archetyping relationships with companion animals to understand disaster risk-taking propensity

Pets factor into the daily decision-making of many people. Importantly, various characteristics of these human–animal relationships are known to strongly influence pet owners’ risk behaviour and, consequently, their animals’ welfare during disasters. Yet, few studies have examined a range of such characteristics concurrently in order to describe risk propensity differences in these relationships. In this study, 437 Australian companion-animal (pet) owners reported human–animal relational, personality and attitudinal characteristics, to examine differences in stated tendency to act to secure their pet’s welfare whilst risking potential harm in a hypothetical disaster dilemma. Cluster analysis identified five archetypal profiles differing in relational, personality, attitude and risk-propensity characteristics, as well as in stated willingness to risk personal safety for the well-being of a pet. Results suggest that relational archetypes are an effective means of examining pet–owner risk propensity, to better understand owners’ risk-taking to protect their animals from harm during a disaster.