AN INDUSTRIOUS REVOLUTION IN AN EAST ASIAN MARKET ECONOMY? TOKUGAWA JAPAN AND IMPLICATIONS FOR THE GREAT DIVERGENCE

This paper addresses a question raised by Jan de Vries' on the relationship between industriousness and the rise of the market in East Asia. Was the growing industriousness in Tokugawa Japan, as de Vries suggests, a substitute ‘for the absence of markets’? The examination refers to two versions of Chayanov's peasant farm model and their empirical relevance to the Tokugawa agrarian history, with special reference to the formation of labour‐intensive peasant farming (Akira Hayami's version of an industrious revolution), product specialisation, and the markets for production factors, land, and labour. Its implications for the Great Divergence debate are also discussed.     

A relationship value perspective of social capital in networks of software SMEs

Utilizing theories on social capital, business networks, social networks and relationship value, we explore the aspects that provide specific value in relationships with different actors in the software industry. The motive for the study is the assumption that some relationships are regarded as more important than others, and companies strive to focus on fewer relationships with greater outcomes. The study is guided by the premise that social capital is a foundation for relationship value, and its identified elements differ among relationships. We take the perspective of software companies and classify their relationships with business partners into three distinctive types according to their function in the value creation process. The findings of our empirical analysis, based on a qualitative case study of eight software SMEs indicate that the aspects of social capital, like the sources of relationship value, vary systematically by the types of relationships. Thus, we are able to provide some theoretical and managerial implications on the management of small- and medium-sized companies.     

A case-control comparison of direct healthcare-provider medical costs of chronic idiopathic constipation and irritable bowel syndrome with constipation in a community-based cohort

Objective: Patients with constipation account for 3.1 million US physician visits a year, but care costs for patients with irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) compared to the general public have received little study. The study aim was to describe healthcare utilization and compare medical costs for patients with IBS-C or CIC vs matched controls from a community-based sample.

Methods: A nested case-control sample (IBS-C and CIC cases) and matched controls (1:2) for each case group were selected from Olmsted County, MN, individuals responding to a community-based survey of gastrointestinal symptoms (2008) who received healthcare from a participating Rochester Epidemiology Project (REP) provider. Using REP healthcare utilization data, unadjusted and adjusted standardized costs were compared for the 2- and 10-year periods prior to the survey for 115 IBS-C patients and 230 controls and 365 CIC patients and 730 controls. Two time periods were chosen as these conditions are episodic, but long-term.

Results: Outpatient costs for IBS-C ($6,800) and CIC ($6,284) patients over a 2-year period prior to the survey were significantly higher than controls ($4,242 and $5,254, respectively) after adjusting for co-morbidities, age, and sex. IBS-C outpatient costs ($25,448) and emergency room costs ($6,892) were significantly higher than controls ($21,024 and $3,962, respectively) for the 10-year period prior. Unadjusted data analyses of cases compared to controls demonstrated significantly higher imaging costs for IBS-C cases and procedure costs for CIC cases over the 10-year period.

Limitations: Data were collected from a random community sample primarily receiving care from a limited number of providers in that area.

Conclusions: Patients with IBS-C and CIC had significantly higher outpatient costs for the 2-year period compared with controls. IBS-C patients also had higher ER costs than the general population.     

Sources of Capital Market Segmentation: Empirical Evidence from Finland

Because Finland has experienced profound economic changes and financial deregulation since the mid‐1980s, we use it as a laboratory to explore issues related to time‐varying global equity market integration. Using a Finnish perspective, we construct two different portfolios of Finnish firms and a conditional one‐factor international asset pricing model. We examine whether the segmentation varies over time and across assets. We use time‐series variables for changing market integration (lagged foreign equity ownership, difference between Finnish and German short‐term interest rates, and a portfolio‐specific liquidity measure) and crosssectional variables (size and book‐to‐market ratios and industry sector) to show variation in integration.     

Valuing environmental factors in cost-benefit analysis using data envelopment analysis

Environmental cost-benefit analysis (ECBA) is used for the social evaluation of investment projects and policies that involve significant environmental impacts. Economic valuation of environmental impacts forms one of the critical steps of ECBA. We develop a new method for this purpose, which does not require price estimation for environmental impacts using stated or revealed preference methods. Our approach is based on data envelopment analysis (DEA), which is modified to ECBA by using absolute shadow prices instead of relative prices. We also discuss how the method can be used for sensitive analysis in ECBA. We illustrate the method by means of a hypothetical numerical example.     

A dual theory approach to estimating risk preferences in the parimutuel betting market

This paper introduces an alternative empirical approach to estimating risk preferences in the parimutuel betting market using a dual theory model which is amended to include bettors’ misperceptions of probabilities. We replicate previous empirical results and test our alternative empirical approach using parimutuel horse race betting data. Our results suggest that while bettors are risk-averse, they are also prone to misperceiving probabilities by overweighting low probabilities and underweighting high probabilities. As an application, these results replicate the choice patterns consistent with the Allais paradox.     

Work-on-demand in patchwork capitalism: The peculiar case of Uber's fleet partners in Poland

In recent years, global corporations entering Central and Eastern European (CEE) markets have begun to adapt to existing legal regulations through innovative means. Uber's entry into Polish market, for example, involved the use of a supplementary entity—a fleet partner. Based on 42 interviews with Uber drivers in Poland (conducted between 2018 and 2020) and two in-depth interviews with fleet partners (2021), this article investigates the prerequisites necessary for the emergence of fleet partners within a work-on-demand platform and their role in the relationships between different stakeholders. Using the concept of patchwork capitalism adapted for CEE countries, this study shows that additional entities took advantage of institutional hybridity, situating themselves as the intermediary between a global giant and a local regulator, and thereby creating a patchwork gig economy.     

城市建成环境对鸟类多样性的影响 机制研究评述及展望

城市化带来的环境变化是生物多样性的主要威胁， 但城市同样也是生物多样性保护的热点地区。因此，分析和预 测城市环境变化对生物多样性的影响对于维护城市生态系统服 务，提升人类福祉至关重要。目前，越来越多的研究对城市建 成环境进行了详细的分类，分别量化了各个城市特征对生物多 样性水平的影响。然而，对影响城市内生物多样性水平的因 素仍缺乏多尺度、全球性的分析。借助Web of Science和 CNKI，对来自全球37个城市的111篇文献进行了建成环境下 鸟类多样性研究方法和结果的系统性分析，并在归纳关键性城 市建成环境要素的基础上，提出了以生物多样性为导向的建成 环境优化策略，指出了鸟类多样性保护和城市可持续发展的未 来方向。