A dynamic semester-long social dilemma game for economic and interdisciplinary courses

The authors present a semester-long game to teach the role of economics in natural resources management. The game is framed within a fisheries context: multiple student fisheries harvest fish to maximize yield/profit, which is measured using a piecewise linear function. There are prizes for both the student and the group with the highest semester-long catch, which brings forth the social dilemma associated with dynamic stock externalities in fisheries. The game can be played in large classes, is robust to student attrition, and requires 5–10?minutes per class period. Given its features, it can be used to teach behavioral economic principles in resource management, incentives versus command-and-control regulations, role of cheap talk, social preferences, punishment, and community management as well as solutions such as aquaculture.     

Are yield-curve/monetary cycles’ approaches enough to predict recessions?

Business Economics - This paper proposes a new framework that identifies a threshold between the fed funds rate and the 10-year Treasury yield and, when the threshold is breached, the risk of a...     

Public budgetary rules and GDP growth: An empirical study on OECD and twelve european countries

We study the long-term effects of budgetary rules on GDP growth rate and analyse the determinants of the short-term GDP growth dynamics. For both a sample of 19 OECD and a subsample of 12 European countries, we show that, in the long run, improvements in the cyclically adjusted budget balance, as well as increases in the tax burden, have negative effects on GDP growth. The highest effect of fiscal policy on GDP growth would be obtained if the structural deficits were used to increase the market size by reducing the tax burden. In line with Barro (1990), a deficit-financed reduction of tax burden has a stronger effect for European than for OECD countries, because in Europe the government size with respect to market size is too large. Therefore, if GDP growth is a dominant policy objective, in Europe specific actions should redress the 2012 Treaty toward a reduction of the tax burden.     

Experiences of Urban Militarism: Spatial Stigma,Ruins and Everyday Life

A key question in urban sociology is how people interpret the urban environment. At a time when cities are increasingly militarized, this question is particularly important for understanding how militarism impacts urban life. However, urban sociologists have not addressed how people experience militarized environments. This article turns to this question by considering the case of Lydda‐Lod, an Israeli city that has been demographically and physically transformed by war, displacement and securitization. Drawing on Wacquant's sociology of spatial stigma and adding insights from works on emotions in (post‐)conflict cities, I examine how poor Palestinians think and feel about the surveilled districts where they live within the city's broader landscape of ruins. I show how the Israeli military, security and policing agencies have collectively produced spatial stigmatization of these districts. I discuss how Palestinians respond to this spatial stigma by attaching a sense of worthlessness to their districts. However, this reproduction of spatial stigma is punctuated by expressions of care for the built environment and by a desire to revalorize collective Palestinian life in the city. I conclude by discussing how a perspective on militarized cities focused on everyday responses to militarism and attentive to marginalities enriches urban sociology and urban studies more generally.     

The importance of informal professional networks in developing a proactive organizational culture: a public value perspective

Public value theory was used by the authors to investigate informal professional networks, perceived discretionary power, and the organizational culture that forms in physical asset management organizations. The results, from a structural equation model, indicated that informal professional networks are positively associated with higher discretionary power and a proactive asset maintenance organizational culture. In the absence of public managers promoting public value, professionals use their informal networks as a source of power to be proactive and contribute to asset reliability and public safety (public value).     

Small‐sample testing inference in symmetric and log‐symmetric linear regression models

This paper deals with the issue of testing hypotheses in symmetric and log‐symmetric linear regression models in small and moderate‐sized samples. We focus on four tests, namely, the Wald, likelihood ratio, score, and gradient tests. These tests rely on asymptotic results and are unreliable when the sample size is not large enough to guarantee a good agreement between the exact distribution of the test statistic and the corresponding chi‐squared asymptotic distribution. Bartlett and Bartlett‐type corrections typically attenuate the size distortion of the tests. These corrections are available in the literature for the likelihood ratio and score tests in symmetric linear regression models. Here, we derive a Bartlett‐type correction for the gradient test. We show that the corrections are also valid for the log‐symmetric linear regression models. We numerically compare the various tests and bootstrapped tests, through simulations. Our results suggest that the corrected and bootstrapped tests exhibit type I probability error closer to the chosen nominal level with virtually no power loss. The analytically corrected tests as well as the bootstrapped tests, including the Bartlett‐corrected gradient test derived in this paper, perform with the advantage of not requiring computationally intensive calculations. We present a real data application to illustrate the usefulness of the modified tests.     

Survival expectations,subjective health and smoking: evidence from SHARE

This article aims to assess how the risk perceptions of smokers affect survival expectations and subjective health. Data from the Survey of Health, Ageing and Retirement in Europe, which include a numerical measure of subjective survival probability, are used to estimate a joint recursive system of equations that describe the relationships among survival expectations, subjective health status and smoking duration. A finite mixture model is used to address endogeneity and unobservable heterogeneity. This approach allows for two types of individuals with different observable characteristics to be identified in the examined population. We find that only in the population of the first type, current and former smokers incorporate the effects of smoking duration into their assessments of survival probabilities. For both types, quitting smoking affects current perceptions of smoking risks, causing the overestimation of both survival probability and subjective health.     

Interaction of maritime shipping and hinterland traffic using a two-level hierarchical transport network

A transport scenario based on a two-level network is developed in order to model operations in maritime transport. To enhance competitiveness and sustainability of shipping companies, the interaction between maritime shipping and hinterland traffic is considered in the novel two-level hierarchical transport network. Demand occurs on the second level, the hinterland, whereas the first level, the sea transport, acts as a pure distribution network. The two-level hierarchical transport model allows regulating the degree of interaction a liner operator has regarding the hinterland traffic. Moreover, access of vehicles to nodes or edges is given subject to feasibility constraints, relating to the size of a vehicle. In this work, the relation to existing routing models, such as the travelling salesman problem, the vehicle routing problem, or the travelling purchaser problem, is illustrated. Moreover, through the definition of a proper set of assumptions, it is possible to reduce the considered two-level hierarchical transport network to different standard routing models. These new insights allow the application of existing solution methods. Numerical experiments are conducted for a particular case and illustrate the influence of node costs on the distribution of workload to the vehicles.     

The role of social identification and hedonism in affecting tourist re-patronizing behaviours: The case of an Italian festival

Since the 1990s Europe and other continents have been organising a significantly larger number of festivals with the objective of stimulating tourism and exploiting potential economic opportunities. The prominence of these events has led to intense competition between festivals in attracting visitors and it has become important to analyse factors which might influence attendees’ retention. Drawing on existing literature on retail and service sectors, this study aims to identify the role played by emotions, hedonism, satisfaction, and social identification in mediating the effects of environmental factors on attendees’ re-patronizing intention. This study includes an on-site survey of 449 visitors attending an Italian festival gaining in popularity, and analyses data using a structural equations model. Results suggest that hedonism and social identification are key-facilitators between environmental cues and attendees’ re-patronizing intention.