Economically Research Articles

How to Use Data Science in Economics – A Classroom Game Based on Cartel Detection

Background Conceptual links between economics and modern data science pose challenges for students and lecturers alike. The present article aims to enhance education and training of students and practitioners by integrating modern empirical research skills into their economic competencies. Aim This paper introduces a classroom game designed to simulate real-world economic scenar- ios, enhancing understanding of procurement markets and regulatory roles within society. In addition, the paper provides supporting teaching material in order to implement the game. The incorporation of this classroom game can contribute to the preparation of the next generation of professionals to be better equipped to address challenges in the era of big data. Method Participants’ success in the game’s first two parts hinges on their comprehension of market dynamics. In the third part, drawing from recent literature on machine-learning-based cartel detection, participants analyze whether bid patterns are indicative of collusive (cartel) behavior. In this part of the game, the success of the participants now role-playing as employees of an antitrust authority, depends on data-science skills. Results The classroom game introduced in the present article was implemented with a class of ten students, serving both as a proof of concept and as a means to gain practical insights. The game proves to be a suitable tool for social-science educators to incorporate the interdisciplinary nature of modern economics into their curricula. It is suited for participants with varying levels of data-science expertise. Moreover, it demonstrates how key lessons from scientific articles can 1 be taught in an application-oriented manner, enhancing participants’ ability to apply theoretical knowledge in real-world contexts. Conclusion Incorporating the classroom game presented in this paper into educational curricula supports students in effectively integrating data-science skills with economic reasoning.

Enhanced degradation of textile wastewater by activated carbon–assisted Fenton oxidation: economic analysis and ANN-based optimization

Abstract This study aims to improve the removal organic contaminants from biologically pre-treated textile wastewater using activated carbon (AC)–assisted Fenton oxidation. The optimum conditions for Fenton process were found to be pH 3.0, 2 mM Fe2+ and 10 mM H2O2. Reed activated carbon (RAC), produced from Phragmites australis, and commercial activated carbon (CAC) were used to enhance Fenton process under optimized conditions. Different doses and reaction times of RAC and CAC were tested to improve chemical oxygen demand (COD) and colour removal. The results showed that COD removal was 64% within the first 10 min, in the Fenton process. When RAC and CAC were added (2 g/L), COD removal increased to 83% and 88%, respectively. Colour removal was nearly complete at 436, 525, and 620 nm for both AC types. The total operational costs for textile wastewater treatment were calculated as 0.660 USD/m3 for Fenton process, 4.160 USD/m3 for CAC-assisted Fenton process, and 2.950 USD/m3 for RAC-assisted Fenton process. Additionally, artificial neural networks (ANNs) results demonstrated the success of the RAC and CAC-assisted Fenton systems, with determination coefficients (R 2) of 0.9503 and 0.9440, respectively. In this context, high R 2 values indicate that the model predicts the results of the RAC and CAC-assisted Fenton systems well and demonstrates the high efficiency of these systems. Graphical Abstract

Critical Review of Corrugation in Tubular Heat Exchangers: Focus on Thermal and Economical Aspects

AbstractHeat exchangers (HXs) are crucial in transmitting thermal energy in various industrial and domestic applications. Efforts to improve the design of HXs over the years have resulted in heat transfer enhancement with the penalty of pressure loss (∆P). Researchers have implemented various methods to enhance heat transfer. These methods have been categorized based on the need for external power. Active heat transfer methods require external energy, whereas passive heat transfer methods operate without an external power source. Increasing the effective surface area for heat transfer or inducing turbulence through surface alterations can improve passive heat transfer, leading to secondary flow. Of all the surface alterations, the corrugated tubes are particularly significant for enhancing the heat transfer in a turbulent flow, as they result in a reasonable increase in ΔP. Apart from an increase in ΔP, the initial cost of corrugated tube HX is higher than that of simple HX. Therefore, one should not write off the economic analysis of any passive enhancement technique. Various applications increasingly use corrugation in systems like the primary and secondary heat transport systems of nuclear reactors, refrigeration, and other industries. This paper critically reviews thermal investigations for improving heat transfer and a comprehensive economic analysis of corrugated tube HXs.

Understanding Metrics for Communicating the Economic Importance of Florida’s Fisheries Part II: Quantifying Market Activity

Florida’s fish and fisheries are vital to the state’s economy, but often people want or need to know just how economically important they are. However, “economic importance” means different things depending on what economic approaches are used. Understanding these differences is important for discussing the economic importance of fisheries and how they might be affected by management actions or environmental changes. This publication is the second part in a three-part series that summarizes different types of economic metrics and how they are often used in a fisheries context. The first publication in the series, , provides an overview and explains how economic measures can be subdivided into two main groups: 1) those that quantify market activity, and 2) those that measure economic value. This second publication focuses on how regional economic methods are used to quantify market activity. It provides a discussion of the most relevant terms and analyses, as well as a brief discussion of how one might proceed with a regional economic analysis that would provide these types of measures for Florida’s fisheries (and related aspects like aquaculture or coastal resources). This information should help readers, especially management agencies and extension agents, as well as the interested public, better understand the metrics associated with quantifying market activity.

Technical and Economic Analysis of a Novel Integrated Energy System with Waste Tire Pyrolysis and Biogas

To reduce dependence on fossil fuels, cope with the growing energy demand, and reduce greenhouse gas emissions, this paper innovatively designs a novel integrated energy system integrating anaerobic digestion of animal manure, fuel cell technology, gas turbine, and tire pyrolysis. The system maximizes the energy potential of biogas while synergistically treating waste tires, improving waste management’s flexibility, efficiency, and economic viability through multiple outputs such as electricity and by-products, subsystem synergies, equipment sharing, and economies of scale. Thermodynamic performance and economic feasibility are analyzed using Aspen Plus V14 simulation modeling, ensuring the system’s technical and economic viability. In this study, the simulation model of the system is established, and the techno-economic benefits of the system are analyzed. The simulation results show that the net electric power output of the system is 444.79 kW. Combined with the contribution of pyrolysis products, the system’s total efficiency reaches 70.88%. In only 4.79 years, the initial investment can be recovered, and in its 25-year service life, the system has realized a profit of 2,939,130 USD. The system realizes the energy and quality matching between different thermal processes through indirect collaborative treatment of different solid wastes, improves the conversion efficiency of biogas energy, co-treats waste tires, and reduces environmental pollution.

Hydrothermal pretreatment of food waste enhances performance of anaerobic co-digestion with sludge.

Food waste (FW) presents a significant opportunity for renewable energy production through anaerobic digestion (AD) when subjected to appropriate treatment. This study investigates the impact of thermal hydrolysis pretreatment (THP) on FW at varying temperature levels (90°C, 120°C, and 140°C) prior to mesophilic anaerobic co-digestion with sewage sludge (SS). Results demonstrate enhanced FW hydrolysis at 120°C, leading to a cumulative methane yield of 324.39 ± 4.5mL/gVSadd, representing a 41.75% increase over untreated FW (228.83 ± 1.13mL/gVSadd). Shifts in microbial communities, particularly Methanosarcina, Methanobactrium, and Methanobrevibacter, support efficient methanogenesis. Co-digestion of FW pretreated at 120°C yields maximum energy production of 11.48MJ/t, a 49.47% improvement compared to untreated processes. The economic analysis underscores the profitability of co-digestion with FW pretreated at 120°C. These findings highlight the potential for enhanced methane production and energy conversion efficiency with hydrothermally pretreated FW and SS co-digestion.

Comparative Analysis of Rubberized Asphalt and Traditional Asphalt: Performance, Economic, and Environmental Impacts in Life Cycle

Rubberized asphalt mixtures, including dry-process, wet-process with asphalt rubber binder, and wet-process with terminal blend binder, are superior options for pavement construction compared to conventional hot mix asphalt (HMA). This study compared these mixtures in terms of performance, cost, and environmental impact, considering their expected lifespan. Their performances were assessed through a literature review, the costs for material production and construction were estimated, and the environmental impacts were evaluated using a life cycle assessment (LCA) with the SimaPro software. The results showed that rubberized mixtures, overall, outperformed conventional asphalt by about 25%, making them a viable choice for sustainable pavements. Despite the higher material and construction costs, an economic analysis revealed that rubberized mixtures are more cost-effective in the long term due to their extended service lives. The wet-process rubberized mixture made with asphalt rubber binder proved to be the most cost-effective over the pavement’s lifespan, followed by the terminal blend and dry-process mixtures. The LCA indicated higher environmental impacts during production for rubberized asphalt due to increased fuel consumption and material usage. However, when normalizing emissions over the pavement’s lifespan, the wet-process rubberized mixtures made with asphalt rubber binder exhibit the lowest equivalent CO2 emissions per year, making them the most sustainable option. The comparative approach used in this study highlights the pros and cons of rubberized asphalt mixtures, offering valuable insights for informed decision-making in pavement construction.

The Relationship between Financial Indicators and the Trading Volume of the Iraqi National Bank Listed on the Iraq Stock Exchange

The relationship between the financial indicators of the Iraqi National Bank and the trading volume of its shares is of great importance in supporting investment decisions and stimulating economic growth. Accordingly, the research problem is represented by the extent of the relationship between the financial indicators of the Iraqi National Bank in the Iraq Stock Exchange and the trading volume of its shares. Based on this, the research aims to analyze the quantitative relationship between the financial indicators and the trading volume of shares for the Iraqi National Bank listed on the Iraq Stock Exchange for the period (2005-2022). A hypothesis was formulated that there is a relationship between the financial indicators of the Iraqi National Bank and the trading volume of its shares. To achieve the study's objective, economic analysis and modern econometric methods were employed, including testing the stability of time series, testing the stability of the model as a whole, determining optimal lag periods, testing for cointegration, estimating the Vector Autoregression (VAR) model, the Vector Error Correction Model (VECM), and causality testing (Toda-Yamamoto). The results of the causality test for the Iraqi National Bank indicate that the relationship between the return on equity ratio and the earnings per share ratio is not significant with trading volume, while the relationship between the liquidity ratio, the debt-to-equity ratio, and the turnover of fixed assets is significant with trading volume.

Sulfate-Resistant Clinker Base Cement with New Secondary Main Constituents: A Technical, Economic, and Environmental Analysis

The Spanish cement sector must adapt its production model to a green economy model. This study focuses on the use of new secondary main constituents (SMCs) suitable for a cement plant that specializes in sulfate-resistant (SR) cement production, defining a framework of technical conditions for their usage and their economic and environmental feasibility. Low-calcium-carbonate-content albero, steel slags, and iron silicate were the tested SMCs; however, they are not currently permitted in cement manufacture. CEM I 42.5 R-SR 3 (type I-SR) was mixed with 5%, 20%, and 30% of these new SMCs. XRF, XRD, leaching and other chemical tests, setting, and hardening tests were performed with no significant issues. Albero is the best option, on the whole, because of the following characteristics: availability, >100 Mt; proximity, 3 km; and acceptable compressive strength level. However, black slag cement with 30% SMC after 28 days shows the best performance, with a compressive strength of 41.3 MPa compared to 35.3 MPa for albero cement and 56.5 MPa for the type I-SR reference. Albero and steel slag at 30% content are the best option according to the cost savings of 32% (−31.5 EUR/t and −31.6 EUR/t, respectively) compared to the type I-SR reference. Regarding the carbon footprint, albero and steel slag at 30% content have the least impact, showing a 31% reduction (−254.8 kg CO2/t and −255.2 kg CO2/t, respectively) compared to the type I-SR reference. The studied SMCs meet the analytical conditions and—with the corresponding regulatory changes—offer potential cost savings for SR cement production, exhibiting a competitive advantage.

Techno-Economic Analysis of Mineralization and Utilization of CO2 in Recycled Concrete Aggregates

Considering the dangers and risks posed by climate change, many countries and organizations have pledged to achieve “net-zero emissions” by 2050. The present work introduces a new approach that addresses the growing global carbon emissions issue by integrating CO2 capture and sequestration through the carbonation of recycled concrete aggregates (RCAs), producing an alternative sand (AS) product. This study explores the capture of low-concentration CO2 and its suitability for sequestration into RCA. The integration of RCA in the process allows concrete manufacturers to reduce their reliance on mined sand, thereby minimizing its impact on the environment. A techno-economic analysis (TEA) was conducted on the CO2 absorption and mineralization process to assess its economic viability across various processing scales, from 150 kt CO2 per year to 1 Mt CO2 per year. Initial bench-scale experiments show that RCA samples have a carbonation capacity of 10% by mass—these experimental results were used to conduct a TEA using Aspen Plus and an Aspen Process Economic Analyzer (APEA). The TEA results reveal a cost of 11.02 USD/t AS at the smallest scale and 8.02 USD/t AS at the largest scale.

A comprehensive analysis of time investment in skid trail planning for forest access.

Properly planned skid trails form an important basis for sustainable timber production. They affect cost-effectiveness and the environmental impact of the harvesting process to a large extent. Here, we conducted an economic analysis to understand the skid trail planning process and to generate an initial model to estimate the time and costs involved. We investigated in detail how the planning process of skid trails is carried out in practice, what time is required for the planning work, and what factors influence its performance. Through an online survey conducted in 2022, we asked practitioners in Germany and Switzerland about their time and effort required for the planning process and the determining factors, such as the planning method and the terrain and stand conditions. Based on this survey, we calculated statistical indicators of time consumption, considered possible rationalization options, and developed an initial estimation model. The effort required to identify and evaluate skid trails planned for distances of 20 to 40 m amounts to around 3 to 4 hours of productive working time per hectare, with deviations expected depending on the specific situation in the forest. The costs corresponding to this investment amount to less than one euro per cubic meter of harvested timber, depending primarily on the extent of wood use. Our in-depth insight into the planning process enables its economic evaluation and the development of improvements.

Experimental investigations on tubular solar stills using supplementary solar thermal collectors for improved production

ABSTRACT Solar distillation techniques have evolved since antiquity and remain in a state of ongoing development. While the tubular solar still (TSS) signifies a recent progression in solar distillation technologies, it is still in the developmental phase. The present study aims to improve the productivity of TSS by integrating additional solar collectors to augment water evaporation rates and consequently improve productivity. The novelty of this research is that it experiments with the coupling of three different solar collectors [Case-1 (TSS+PTC), Case-2 (TSS+ETC), and Case-3 (TSS+CPC)] for the first time in a comparative setup with the aim of improving the performance of TSS. And their performance was compared against a baseline TSS without such modifications. Experimental investigations were conducted with all TSS configurations arranged side by side at Nagpur India (21.135°N, 79.0033°E). Results indicate that in the case of Case-3 (TSS+CPC) the productivity of the solar still increased by approximately 2.2 times higher than that of the conventional baseline TSS. The economic analysis reveals that the TSS-CPC offers the most economical solution among all the investigated systems.

Point-of-care tests in the emergency medical services: a scoping review

BackgroundThis scoping review aimed to summarize existing research on point-of-care tests (POCTs) within emergency medical services (EMS). There is a lack of comprehensive reviews covering the breadth and scope of application of POCTs in EMS despite growing interest and potential benefits in this setting. A review of the research will inform how we target future research efforts to support effective implementation and avoid duplication.MethodsWe searched three databases to April 2023 using comprehensive terms for POCTs. One author screened titles and abstracts, full-text papers and extracted data with a second author checking the data. A scoping review framework was used to categorise studies according to demographics, study design, medical conditions, biomarkers and test devices.ResultsWe found 141 papers that included 158 reports of 9 study designs, 155 reports of 40 combinations of biomarker and condition and 161 reports of 41 test-devices. The majority of research was done in the UK (19%), US (17%), and the Netherlands (16%), mostly in land-based EMS (82%). Most frequently assessed were troponin for acute coronary syndromes (26%), lactate for sepsis (14%) or lactate for trauma/critical illness (13%). The majority of research designs investigated the accuracy of the tests (43%). Few studies were of a design to inform guidelines to change patient pathways and the associated outcomes, including, randomised controlled trials (RCTs) (4%), non-randomised studies able to assess causality (6%), economic analyses (1%) or qualitative work on acceptability (3%). In those few cases where RCTs were done there were long delays between initial test-accuracy research and publication of the first RCT, for example 11 years delay for troponin for acute coronary syndromes.ConclusionsWe identified a thriving base of research on POCT in the EMS, however most studies established the diagnostic accuracy of the tests with few RCTs, economic analyses or qualitative research on acceptability. The time-lag from diagnostic accuracy to developing an RCT is considerable. Investment in funding and infrastructure is needed to support the research pathway for potential POCTs beyond diagnostic accuracy to designs able to assess clinical effectiveness, acceptability and economic effectiveness.

The impact of gestational age limits on abortion-related outcomes: a synthesis of legal and health evidence

BackgroundGestational age limits (GLs) are common in abortion laws and policies. They restrict when lawful abortion may be accessed by reference to the gestational duration of a pregnancy, in some cases specifying that abortion is a criminal offense after, but not before, the GL. This synthesis of legal and health evidence addresses knowledge gaps on the health and non-health outcomes plausibly related to the effects of GLs on abortion-related outcomes.MethodsThis paper synthesizes the results of a systemic review with the identification and application of relevant international human rights standards. A search strategy was drawn up to capture public health, international human rights law, and policy evidence related to the impacts of GLs. We limited our search to papers published in English since 2010, including quantitative studies (comparative and non-comparative), qualitative and mixed-methods studies, reports, PhD theses, and economic or legal analyses. Only studies that undertook original data collection or analysis were included. Review of treaties, opinions, interpretations, general comments, and special procedures of UN human rights bodies identified relevant human rights standards, which were then synthesized with the extracted data to create a comprehensive evidence synthesis.ResultsGLs do not prevent people from seeking abortion but do operate as a regulatory barrier that can result in people seeking abortion outside of the formal health system or unwillingly continuing pregnancy. In many jurisdictions, they interact with the criminalization of abortion, with significant health and non-health impacts. GLs impact most on people who are least able to access abortion because of later detection of pregnancy, lack of access to abortion provision, and lack of access to the resources required to avail of abortion.ConclusionsAlthough paradigmatic in abortion law, GLs are not based on evidence of either the safety or effectiveness of abortion or the needs and preferences of pregnant people. They produce rights-limiting impacts for pregnant people and, in some cases, result in arbitrary and disproportionate violations of legally protected rights. The persistence of GLs as part of the regulatory framework for abortion provision cannot be said to ensure an enabling environment for quality abortion care.

Clinical and economic assessment of nosocomial pneumonia antibacterial therapy in Moscow hospital

Objective: to conduct clinical and economic analysis of nosocomial pneumonia antibacterial therapy in a multidisciplinary hospital in Moscow.Material and methods. The medical records of patients admitted to Yudin City Clinical Hospital in Moscow in 2019–2021 were analyzed retrospectively. Pharmacoepidemiological analysis included the structure of prescriptions of antibacterial drugs (ABDs), features of empirical and etiotropic therapy, duration of using ABDa and other parameters. In total, 110 cases of severe nosocomial pneumonia caused by ESKAPE pathogens were selected for analysis. Direct medical costs and cost-effectiveness coefficients were calculated based on real world data.Results. It was established that nosocomial pneumonia is the most common complication among hospitalized patients in the intensive care unit (ICU). The etiology of nosocomial pneumonia was mostly presented by K. pneumoniae, A. Baumanii, and P. aeruginosa. The administered ABDs included 31 international nonproprietary names of the group J01 Systemic antibacterial drugs. The direct medical costs of empirical antibacterial therapy averaged for 9367 rubles (2118 rubles [1462; 3525]). Comparative cost-effectiveness analysis was performed based on surrogate and endpoints. It was found that direct medical costs associated with ESKAPE pathogens spend about 70% of the budget of established tariff to pay for medical care of the compulsory health insurance program for the patient's stay in the ICU.Conclusion. Antibacterial therapy costs for nosocomial pneumonia significantly increase the total cost of a patient's hospital stay. Сlinical and economic assessment of drug use help optimize therapy costs and develop a hospital formulary of antimicrobial drugs.

Acts Against the Law in the Field of Investment in Indonesia

The world of investment involves several aspects, both financial and non-financial. It is not uncommon for investments between countries to involve government officials who, in certain cases, commit acts of abuse of power. The act in question in this case will be explored in the theory of Economic Analysis of Law and also as regulated in Article 1365 of the Civil Code. The research metode involves literature research conducted through a literature review. This study finds that the implementation of Legal Quality Audit in the field of investment is an appropriate strategy because it can be carried out at the pre-investment stage, investment execution stage, and investment accountability stage. With Legal Quality Audit, the potential for unlawful acts in investment can be detected, from the pre-investment phase to the conclusion of the investment agreement. There are also two important aspects of which are Concept (philosophical foundation) and Parameter (quantitative aspect). It leads to the Legal Quality Audit System, which measures multidisciplinary quality parameters. Also, The Legal Quality Audit can be applied at various stages of investment to detect potential unlawful acts, ensuring reliability, customer satisfaction, and adherence to legal obligations.

Enhancing Energy Efficiency in Mediterranean Large-Scale Buildings: A Study on Mobilized Thermal-Energy-Storage Systems

This study investigates the use of Mobilized Thermal Energy Storage (MTES) systems to enhance energy efficiency in large-scale Mediterranean buildings, focusing on a university campus in Tripoli, Lebanon. The research question addresses whether MTES can effectively utilize waste heat from a power plant to meet heating, cooling, and water heating needs. We hypothesize that MTES, using Erythritol as the phase change material (PCM) and Therminol55 as the heat transfer fluid (HTF), will improve energy efficiency and reduce costs compared to conventional systems. The methodology involves simulating the MTES system’s performance, including charge, self-discharge, and discharge phases, using Simulink-MATLAB. Key findings reveal that increasing the HTF flow reduces the charging time by 29% and enhances the efficiency by 8%, while larger project scales decrease heat costs. Economic analysis shows a payback period (PBP) of 2 years 11 months for heating only and 2 years 1 month for heating and cooling, with annual maintenance costs considered at 5%. These results demonstrate MTES as a sustainable and cost-effective solution for thermal energy storage, with potential applications in the energy sector.

Iron electrodeposition-induced yearly degradation on industrial alkaline water electrolysis: Multiphysics model and economic analysis

Iron electrodeposition-induced yearly degradation on industrial alkaline water electrolysis: Multiphysics model and economic analysis

A Network Analysis of the Impact of the Coronavirus Pandemic on the US Economy: A Comparison of the Return and the Momentum Picture

This study examines a cross-correlation analysis of companies included in the S&P 500 Index at three different intervals: before, during, and after the pandemic’s onset. The aim is to evaluate how the pandemic and related governmental actions have affected market structures and economic conditions. This paper introduces the notion of momentum time series, integrating return and volume data. We show that these momentum time series provide unique insights that differ from return time series, suggesting their potential utility in economic analysis. Our analysis employs the Manhattan and Mantegna distances to construct a threshold-based network, which we subsequently scrutinize. Lastly, we evaluate how the pandemic has influenced these outcomes.

Thermodynamic and Economic Analysis, Optimization of SOFC/GT/SCO2/ORC Hybrid Power Systems for Methanol Reforming-Powered Ships with Carbon Capture

Thermodynamic and Economic Analysis, Optimization of SOFC/GT/SCO2/ORC Hybrid Power Systems for Methanol Reforming-Powered Ships with Carbon Capture