Demand for rural tourism: the effects of quality and information

The development of rural tourism is regarded as a promising diversification strategy especially for lagging and mountainous areas of the European Union. Research concerning the demand and/or supply of rural tourism services has been limited within the agricultural economics domain despite the significance attached to rural tourism by various rural development policy measures and initiatives. The article examines the expenditure behavior of rural tourists within a framework of demand for composite (heterogeneous) goods. The proposed framework captures the quality of the tourism experience as the commodity's unit value, a quantifiable economic variable, examines its effects on expenditures and allows for the estimation of elasticity in prices regarding expenditure and quantity. Empirical analysis is facilitated by a survey recording the expenditure behavior of 465 tourists in two rural and lagging areas of Greece. The quality of the tourism experience is significantly and positively affected by the income, the source from which information about the trip is retrieved (Internet, newspapers as well as general press and special travel press) and by the amount of information sought by the consumer prior to the trip. In turn, the quality of the tourism experience is the major endogenous factor that positively influences expenditures for rural tourism. Further research is needed before evidence provided in this work can be used to draw policy conclusions and recommendations.     

Bank efficiency in the new European Union member states: Is there convergence?

We employ the stochastic frontier approach and estimate a common frontier in order to examine cost and profit efficiency in the banking systems of the ten new European Union member states over the period 1998-2003. The results indicate a generally low level of cost and an even lower level of profit efficiency, whilst we do not observe marked differences of inefficiency scores across countries. Foreign banks outperform both state-owned and domestic private-owned banks in terms of profit efficiency, though results are less clear in the case of cost efficiency. In addition, β- and σ-convergence criteria indicate some convergence in cost efficiency across the new member states, yet no convergence appears to have been achieved in terms of profit efficiency.     

Taking Chances: The Effect that Growing Up on Welfare Has on the Risky Behavior of Young People*

In this paper, we analyze the effect that growing up in a family with a history of welfare receipt has on young people's engagement in a variety of social and health risks. Unique administrative data matched to survey data for 18‐year‐olds and their mothers allow us to evaluate the effect of welfare receipt over the course of a young person's childhood. Much of the apparent link between family welfare history and risk taking disappears once we control for the effects of family structure, mothers’ own risk taking, and mothers’ investments in their children. We find no evidence that growing up on welfare causes young people to engage in risky behavior.     

The Innovative Development of the Transport Services Market: A Cluster Approach

The concept of an innovative transport and logistics cluster is formulated in the article. As a result of research into the current trends in the formation of domestic and foreign transport and logistics clusters (TLCs), the prospects of the formation of innovative transport-logistical clusters in the Russian Federation are determined based on the step-by-step approach proposed by the authors. The main ways of assessing the efficiency indicators of the cluster in relation to individual enterprises and their groups have been outlined.     

The Hong Kong Umbrella Movement as a non-profit organization: An empirical study on the use of visual branding practices for social change

In this article, we draw our attention to the growth of a new social movement, as a non-profit organization which aims to effectively communicate its collective identity and messages to larger audiences. Initially, we provide a critical discussion on the interrelationships between marketing theory/practice and protest groups' promotional tactics. Afterwards, we focus on the interface between visual branding practices and new social movement's strategies to create a visual branding identity around their protest symbols and aims. In order to do so, we adopted a moderate participant observation approach to explore how the 2014 Hong Kong Umbrella Movement employed forms of visual branding to engage local and global audiences and induce social change. Drawing on a close examination of field notes and a visual analysis of digital archives and images from the protest sites, we identify and discuss the presence of several visual branding techniques for the imaginative promotion of the movement's demands and causes. Our findings suggest that the 2014 Umbrella Movement protesters coordinated and acted as non-profit organization which employed innovative and creative visual branding methods to enhance the movement's unity and trigger emotional responses from diverse audiences. We conclude the article with suggestions for future research around the interrelationships between social movements' protest symbols, transnational visual branding practices and non-profit organizational practices.     

New plant engineering techniques,R&D investment and international trade

New plant engineering techniques (NPETs) may significantly improve both production and quality of foods. Some consumers and regulators around the world might be reluctant to accept such products and the global market penetration of these products may remain low. We develop a parsimonious economic model for R&D investment in food innovations to identify conditions under which NPET technology emerges in the context of international trade. The framework integrates consumers' willingness to pay (WTP) for the new food, the uncertainty of R&D processes, the associated regulatory cost of approval, and the competition between domestic and foreign products. With generic applicability, the model enables the quantitative analysis of new foods that could be introduced in markets and then traded across borders. We apply the framework to a hypothetical case of apples improved with NPETs. Simulation results suggest that import bans and high values of sunk cost can reduce R&D investment in NPETs to suboptimal levels.     

Insights from the mandatory insurer climate risk disclosure survey in the United States

We document the implementation of the Insurer Climate Risk Disclosure Survey in the United States and provide an overview of its historical development since 2009. By 2020, the Survey is mandatory in 15 states or jurisdictions for insurers that meet the premium threshold. We find that the coverage of the Survey has reached 80% of Property & Liability premiums and close to 100% of life premiums, but the majority of US insurers—especially small or less diversified insurers who are most vulnerable to climate risk—are not covered by this survey. We highlight research opportunities exploiting the unique institutional setting of the Survey while also documenting the caveats of the Survey.