Economic Methodology Research Articles

Development and Validation of a Stability-Indicating HPLC Method for Empagliflozin and Linagliptin in Tablet Dosage Form

A simple, stability indicating high performance liquid chromatographical (HPLC) method was developed and validated for the estimation of empagliflozin and linagliptin in combined dosage forms. Chromatographical separation was optimized by isocratic HPLC using C-18 column [BDS 250 mm × 4.6 mm, 5 μm] utilizing a mobile phase consisting a mixuture of 0.1% orthophosphoric acid and acetonitrile (60:40 v/v) running at a rate of 1 mL/min and monitoring effluents at 230 nm. The retention time of empagliflozin and linagliptin was 2.05 min and 4.10 min, respectively. Correlation coefficient (r2) was 0.999 for both empagliflozin and linagliptin. The precision of method for the analysis of empagliflozin and linagliptin were 0.33 and 0.22, respectively. The accuracy of method (as recovery) was 100.96 to 101.48% for empagliflozin and 100.09 to101.13% for linagliptin. The results indicate the present method is accurate, precision and rugged as these results are within the specified limits. Therefore, the validated economical methodology can be applied for forced degradation study of empagliflozin and linagliptin in solid dosage forms.

Beyond the Policy Debate: How to Quantify Sustainability Benefits in Competition Cases

The competition community is currently busy discussing the role of competition policy in supporting the Green Deal and other EU sustainability objectives. In this paper, we look beyond the policy debate and focus on the application of economic methodologies in quantifying sustainability benefits potentially stemming from an agreement, a merger, or state aid. We zoom in on the current rules to identify the boundaries of what could be the basis for incorporating sustainability in such cases before presenting well-established tools and methodologies from environmental economics that can be used in the quantification of sustainability. As with any quantitative assessment, there is a trade-off between accuracy and cost, and the methodological choices should be based on the circumstances of each case. Keywords: sustainability benefits, competition policy, economic analysis

ПОТРЕБИТЕЛЬСКОЕ ПОВЕДЕНИЕ НА АРТ-РЫНКЕ. ОСОБЕННОСТИ ФОРМИРОВАНИЯ И ПРОБЛЕМЫ ИССЛЕДОВАНИЯ

In the article the segmentation of the art market is presented according to various criteria: by mass audience, by periods of creation of works of art, by price categories. The necessity of a typology of the audience in the mass segment is substantiated. The practice of audience typology is considered. It is shown that the different nature of needs for goods and services, on the one hand, and for art objects, on the other, makes it necessary to adapt the classical economic methodology for the analysis of the art market and diagnosis of consumer behavior.

The AI Economist: Optimal Economic Policy Design via Two-level Deep Reinforcement Learning

AI and reinforcement learning (RL) have improved many areas, but are not yet widely adopted in economic policy design, mechanism design, or economics at large. At the same time, current economic methodology is limited by a lack of counterfactual data, simplistic behavioral models, and limited opportunities to experiment with policies and evaluate behavioral responses. Here we show that machine-learning-based economic simulation is a powerful policy and mechanism design framework to overcome these limitations. The AI Economist is a two-level, deep RL framework that trains both agents and a social planner who co-adapt, providing a tractable solution to the highly unstable and novel two-level RL challenge. From a simple specification of an economy, we learn rational agent behaviors that adapt to learned planner policies and vice versa. We demonstrate the efficacy of the AI Economist on the problem of optimal taxation. In simple one-step economies, the AI Economist recovers the optimal tax policy of economic theory. In complex, dynamic economies, the AI Economist substantially improves both utilitarian social welfare and the trade-off between equality and productivity over baselines. It does so despite emergent tax-gaming strategies, while accounting for agent interactions and behavioral change more accurately than economic theory. These results demonstrate for the first time that two-level, deep RL can be used for understanding and as a complement to theory for economic design, unlocking a new computational learning-based approach to understanding economic policy.

1384. Conceptual Economic Model Methodology for Infant Pneumococcal Conjugate Vaccine Program and its Impact on Antimicrobial Resistance

BackgroundAntimicrobial resistance (AMR) is a global threat to effective prevention and treatment of an ever-increasing range of infections. Pneumococcal conjugate vaccines (PCV) used in infant national immunization programs have been shown to decrease AMR pneumococci. Cost-effectiveness models evaluating the value for money of PCV programs have not considered the economic impact of reducing antimicrobial prescribing or prolonged infections due to treatment failures. Standardized frameworks are needed for models to address outcomes and impact on health resource utilization related to AMR.MethodsWe developed a conceptual modeling methodology suitable for a health economic evaluation of an infant PCV program. We considered impact of PCVs on pneumococcal disease (PD) specifically related to clinical management of AMR-PD, including AMR epidemiology, antibiotic prescribing patterns, and healthcare resource utilization. Model inputs were evaluated regarding optimal and available data sources considering the complex nature of AMR at the national, regional, and global level.ResultsThe proposed framework considers impact of PCVs on antimicrobial prescribing due to invasive pneumococcal disease (IPD), community acquired pneumonia (CAP), and acute otitis media (AOM) across 3 pathways (Figure 1). The population and pathogen-level pathway describe epidemiology and vaccine impact. The care level pathway describes clinical disease management. The health outcomes pathway characterizes resistant or successfully treated PD costs and quality of life.Conceptual Economic Model Methodology ConclusionWe present a generalizable methodology to quantify impact of PCVs on cases and outcomes of PD related to AMR. Modelling vaccine-preventable burden of AMR-PD requires data extrapolations and assumptions due to the myriad of interconnected pathways (i.e. microbiology, epidemiology, environment, health systems). Further work is needed to validate assumptions and linkages across incomplete data sources.Disclosures Raymond Farkouh, PhD, Pfizer (Employee) Arianna Nevo, MPH, Pfizer, Inc. (Other Financial or Material Support, I am an employee of IQVIA. IQVIA received funding from Pfizer to carry out the project.) Jennifer Uyei, PhD, MPH, Pfizer, Inc. (Other Financial or Material Support, I am an employee of IQVIA. IQVIA received funding from Pfizer to carry out the project.) Cassandra Hall-Murray, PharmD, Pfizer, Inc. (Employee) Joseph Lewnard, PhD, Pfizer, Inc. (Consultant, Grant/Research Support, Advisor or Review Panel member) Matthew Wasserman, MSc., Pfizer Inc. (Employee)

Fiscal policies, public investments and wellbeing: mapping the evolution of the EU

The European Union faced several crises in the last twenty years that destabilized its macroeconomic equilibrium and development capacity. Standard economic methodologies were capable of neither predicting nor completely solving these crises through appropriate investments. To understand the overall development performance, the well-known Human Development Index (HDI) is the most widely deployed conceptual framework. In this article, we look at the components of welfare dynamics in the EU by examining socioeconomic performance. Through a 'beyond gross domestic product (GDP)' * The research is conceptually related to the activities of the European Topic Centre on Waste, materials and the Green Economy (ETC WMGE, European Environment Agency). It is also within the research activities of the 2018-2022 UNIFE project on Circular economy, Innovations and SMEs funded by MIUR Italian ministry under the 'Departments of excellence' programme, and the activities of the related CERCIS research centre on Circular Economy, Innovation and SMEs.

Research methodology in economics

Introduction. Some methodological provisions need to be modified according to the realities of existing practice and be verified according to the possibilities of their application in economic phenomena and processes study. Theoretical analysis of methodological principles, their comparison and generalization were used during investigation. The purpose of the paper is to study basic methodological prerequisites and principles in economic research. Results. Analyzing and summarizing the achievements of Nobel laureates, the methodological problems of limited rationality, information asymmetry and opportunistic behavior of economic agents are considered. Modern mainstream in economic research corresponds to binary paradigm of neoclassicism and neoinstitutionalism, which are based on two common elements of the “core”: methodological individualism and “economic man” conception (homo economicus). The focus of the enterprises on maximizing profitability, and households – on benefits, is an axiom of neoclassicism, which implies significant requirements for information quantity and quality. At the same time, rational choice is accompanied by situations of uncertainty and varying degrees of risk regarding such activities consequences. The advantages of the institutional direction as the closest to the real conditions of economic entities market activity are substantiated. A specific feature of neoinstitutional approach is modification of neoclassical paradigm due to preserving basic preconditions of its “core” and partial transformation of “protective shell” into more perfect, realistic principles. In economics, the most significant is methodological combination of “semi-strong” limited rationality with a “strong” form of opportunistic behavior. Conclusions. Thanks to introducing modified preconditions and methodological principles into neo-institutionalism, it became possible to improve the analysis of economics and to apply interdisciplinary research in combination with the approaches of other branches of science.

Risk management of sociocultural process: digital revolution

Risks and threats play an important role in the development of the sociocultural sphere, while risk management makes it possible to identify and predict them. In this regard, it is relevant, expedient and necessary to undertake an attempt to adapt the economic methodology of risk management to the sociocultural process by means of socio-humanitarian revision of risk management and the formation of an integrated model of sociocultural risk management based on the relevant methodology. Such a model will provide an opportunity for a more detailed approach to the process of assessing and controlling the occurrence of risk, as well as increasing the predictability of potential risk based on the accumulated scientific and practical knowledge and previous experience. The approach to the problem proposed by the author will expand the theoretical and methodological base not only of socio-humanitarian science, but also innovation, general management theory and the risk management methodology itself. The purpose of the paper is to define the specifics and main trends of risk management in relation to the sociocultural process, as well as assess the possibilities of applying this methodology for managing and preventing sociocultural risks. Basing on sociocultural and interdisciplinary approaches, risk management techniques, crisis concepts and the socio-technical landscape of digital reality, an integrated risk management model was formed in relation to the socio-cultural process. It will create an effective mechanism for predicting risk and reducing its impact on the sociocultural process, focused on solving the problems of stabilization and development of objects and processes, and can also be used as a tool in the procedure for making and implementing decisions in strategic planning and project management. Based on the results of this study, a set of main trends in risk management will be formulated in relation to the sociocultural process. The authors of the paper consider the possibilities of using this methodology for managing and preventing sociocultural risks and form an integrated model of risk management in relation to the sociocultural process in the context of a digital revolution.

Setting up a methodology for evaluating, analyzing and predicting the sustainable development of economic agents amid Grand Challenges

Subject. Mentioned in the Strategy for Scientific and Technological Development of the Russian Federation, Grand Challenges entail difficulties, threats and opportunities for the national development. The complicated nature, scale of problems and threats cannot be addressed, eliminated or resolved by multiplying resources consumed. This aspect should be taken into consideration in evaluating, analyzing and predicting the sustainable development of economic agents operating amid grand challenges. Objectives. We outline a methodology for a set of methods used to evaluate, analyze and predict the sustainable development of economic agents operating amid grand challenges. Methods. The methodological framework comprises the resource-based approach, which we set up and tested when conducting the economic analysis of the sustainable development of economic agents. Results. The article produced an algorithm for evaluating, analyzing and predicting the sustainable development of economic agents operating amid grand challenges. We determined sustainable development indicators throughout hierarchical levels and thresholds based on the Fibonacci numbers, which satisfy the sustainable development amid grand challenges. Conclusions. There should be a set of subjective, industrial and technological indicators to monitor the performance of national programs and strategies and governance of economic operations, since such indicators could help gauge the impact of the grand challenge throughout its phases. The proposed algorithm will amplify the economic analysis methodology and highlight partial and integrated indicators measuring reserves and new operational environment of economic agents in the time of grand challenges.

Evolution of the Productive Capabilities of Mexico: Economic Complexity Analysis for the Development of Special Economic Zones (SEZ)

ABSTRACT This article aims to identify the capabilities that can enhance structural change at the state level in Mexico. Specifically, we analyze the evolution of the productive capabilities from 1999 to 2014 in the five less developed southern states where the federal government wants to generate development poles. Using the economic complexity methodology and estimating the network of relatedness, our findings indicate that these states have been specialized in non-complex capabilities, and that states specialized in capabilities with greater betweenness centrality tend to have greater diversification. Finally, we identify the manufacturing capabilities with the greatest potential to trigger structural change.

Academic support under COVID-19 lockdown: what students think of online support e-tools in an ODeL course

PurposeThis paper aims to explore student teachers’ views related to the online academic support e-tools used under the COVID-19 lockdown.Design/methodology/approachMapping a pragmatic research approach, an explanatory mixed methods design was used for the study.FindingsEmpirical evidence revealed that student teachers were satisfied and experienced the academic support tools as being positively applied to their online learning. Furthermore, it is reported that student teachers preferred the discussion forum as the most appropriate academic support e-tool in the course under coronavirus (COVID-19) lockdown.Research limitations/implicationsThis exploratory pragmatic study extends the knowledge of the online academic support e-tools for an open distance e-learning (ODeL) context that was used under COVID-19 lockdown. This study provides additional evidence concerning a revised academic support frame for an ODeL online learning context. Research limitations: small sample size was used, and therefore caution must be applied, as the findings might not be transferable to a similar context. The current study has only examined a teacher education course and could not be generalised to similar conditions as those under COVID-19 lockdown. This exploratory research has raised many questions that require further investigation. More research is required to determine the efficacy of the academic support e-tools with regard to student learning in other online courses and contexts.Practical implicationsThe student teachers that participated in this study were empowered to using the academic support e-tools to support them under COVID-19 lockdown. The discussion was mostly preferred academic supportive e-tool as an engaged, participatory and communicative platform for accelerated learning in the teaching methodology of economics course.Originality/valueA noteworthy contribution was made in the design and testing of the reliability of methodological tools, which could be replicated in blended and ODeL contexts.

The Broader Economic Value of School Feeding Programs in Low- and Middle-Income Countries: Estimating the Multi-Sectoral Returns to Public Health, Human Capital, Social Protection, and the Local Economy.

Introduction: Globally, there are 370 million children receiving school meals every day. Coverage is least in low-income countries, where the need is greatest and where program costs are viewed as high in comparison with the benefits to public health alone. Here we explore the policy implications of including the returns of school feeding to other sectors in an economic analysis.Methods: We develop an economic evaluation methodology to estimate the costs and benefits of school feeding programs across four sectors: health and nutrition; education; social protection; and the local agricultural economy. We then apply this multi-sectoral benefit-cost analytical framework to school feeding programs in 14 countries (Botswana, Brazil, Cape Verde, Chile, Côte d'Ivoire, Ecuador, Ghana, India, Kenya, Mali, Mexico, Namibia, Nigeria, and South Africa) for which input data are readily available.Results: Across the 14 countries, we estimate that 190 million schoolchildren benefit from school feeding programs, with total program budgets reaching USD11 billion per year. Estimated annual human capital returns are USD180 billion: USD24 billion from health and nutrition gains, and USD156 billion from education. In addition, school feeding programs offer annual social protection benefits of USD7 billion and gains to local agricultural economies worth USD23 billion.Conclusions: This multi-sectoral analysis suggests that the overall benefits of school feeding are several times greater than the returns to public health alone, and that the overall benefit-cost ratio of school feeding programs could vary between 7 and 35, with particular sensitivity to the value of local wages. The scale of the findings suggests that school feeding programs are potentially much more cost-beneficial when viewed from the perspective of their multi-sectoral returns, and that it would be worthwhile following up with more detailed analyses at the national level to enhance the precision of these estimates.

Quantifying the Impact of Public Perceptions on Vaccine Acceptance Using Behavioral Economics.

This study was conducted to evaluate the impact of public perceptions of vaccine safety and efficacy on intent to seek COVID-19 vaccination using hypothetical vaccine acceptance scenarios. The behavioral economic methodology could be used to inform future public health vaccination campaigns designed to influence public perceptions and improve public acceptance of the vaccine. In June 2020, 534 respondents completed online validated behavioral economic procedures adapted to evaluate COVID-19 vaccine demand in relation to a hypothetical development process and efficacy. An exponential demand function was used to describe the proportion of participants accepting the vaccine at each efficacy. Linear mixed effect models evaluated development process and individual characteristic effects on minimum required vaccine efficacy required for vaccine acceptance. The rapid development process scenario increased the rate of decline in acceptance with reductions in efficacy. At 50% efficacy, 68.8% of respondents would seek the standard vaccine, and 58.8% would seek the rapid developed vaccine. Rapid vaccine development increased the minimum required efficacy for vaccine acceptance by over 9 percentage points, γ = 9.36, p < 0.001. Past-3-year flu vaccination, γ = −23.00, p < 0.001, and male respondents, γ = −4.98, p = 0.037, accepted lower efficacy. Respondents reporting greater conspiracy beliefs, γ = 0.39, p < 0.001, and political conservatism, γ = 0.32, p < 0.001, required higher efficacy. Male, γ = −4.43, p = 0.013, and more conservative, γ = −0.09, p = 0.039, respondents showed smaller changes in minimum required efficacy by development process. Information on the vaccine development process, vaccine efficacy, and individual differences impact the proportion of respondents reporting COVID-19 vaccination intentions. Behavioral economics provides an empirical method to estimate vaccine demand to target subpopulations resistant to vaccination.

Perfected value of the medical service: feature of formation

The study presents the results of the studies and observations of the process of forming the value of a medical service, on the basis of the application and description of the methodology of behavioral economics. Furthermore, it describes the behavioral approach of consumer behavior, their incentives, and reactions, as well as the stages of forming a contact of the consumers of a medical service.

ПЕРЕДУМОВИ ОНОВЛЕННЯ МЕТОДОЛОГІЇ ЕКОНОМІЧНОЇ НАУКИ

The systemic crisis of society and its economic component has shown the need to revise the methodology of economics. The purpose of the article is to generalize the prerequisites for the formation and development of methodological support for removing the critical situation of domestic economics and practice. The methodological basis of the study is based on the ideas of prominent scientists and practitioners, methods of dialectics, system-synergetic and interdisciplinary approaches to the analysis of the methodology of economics. The main hypothesis of the study was the assumption that the clarification of the functions and elemental composition of the methodology of economics will provide constructive discussions on its development and adaptation to domestic conditions. Presenting main material. The loss of control over the system of economics and practice requires a revision of technologies for their study based on methodological pluralism, focused on identifying opportunities for transformation of the economy focused on production of goods in the economy of expanded reproduction of potential human capacity to respond to unconventional situations. The originality and practical significance of the study lies in identifying the limitations and contradictions of the proposed ways to update individual scientific paradigms and their systems in the format of a metaparadigm, providing a systematic justification of the theoretical foundations of the methodology of economics and practice by defining the essence of , specifically. The offered list of functions and elemental structure of methodology of economic science creates an initial basis of their discussion and specification in discussions and educational processes. Conclusions and prospects of further researches. The effectiveness of the methodology of economics depends on the constructive dialogue of stakeholders in its renewal. The initial stage of the dialogue should be to agree on the interpretation of its functions and content. Prospects for further research are related to the development of reforms, building their logical matrix, which will contribute to the reform of society in general and its economic subsystem in particular.

Design of Methods for Long-Term Forecasting of Development Trends in the Russian Economy (Methodology and Model Toolkit)

The subject of this article is to describe possible areas for improvement of long-term economic forecasting methodology based on the mathematical toolkit of econometrics. Design issues are discussed with regard to methodological principles of applying this toolkit to forecasting and analytics. Special attention is paid to the development of a forecasting and analytical calculation scheme that ensures interconnected generation of long-term indicators of economic development at the macroeconomic and sectoral levels.

Student Teachers' Lived Experiences of an ODeL Flipped Instructional Design

In recent decades, research studies on the flipped class pedagogy strategy have shown significant educational benefits in student learning across subjects and contexts. This investigation determines the extent to which the ODeL flipped instructional design enhances student teachers' pedagogical content knowledge of economics. An explanatory mixed-methods design, a self-designed online survey, and blogs were employed for data collection. This article reported positive experiences of students exposed to the educational benefits of flipped class as a digital pedagogy to learn how to teach the subject. Furthermore, social interaction, building relationships, and student learning about the types of sources used to learn how to teach economics are vital for the success of the strategy. Finally, it contributes methodologically to the validation and reliability of an online data collection instrument for future data collection purposes. The findings of this study are limited to a small group of student teachers in the course Teaching Methodology of Economics.

ANÁLISE DO IMPACTO ECONÔMICO DO TERMINAL PORTUÁRIO DE ALCÂNTARA

Esta pesquisa teve como objetivo a análise do impacto econômico da atividade Terminal Portuário de Alcântara, um empreendimento greenfield, localizado no estado do Maranhão. Utilizou-se da pesquisa bibliográfica; pesquisa documental; entrevista e metodologia de análise de impacto econômico proposta pelo Bureau of Transport Economics da Austrália. O impacto econômico foi medido por meio do Valor dos Serviços Prestados, Valor Adicionado Bruto, Rendimento das Famílias e o Número de Empregos Gerados, dividido em impacto direto, indireto e induzido e avaliado para um período de 24 anos (2024 a 2048). Os resultados obtidos indicam uma contribuição para o desenvolvimento regional, comprovando o papel dos portos para a melhoria das condições de movimentação de produtos (riquezas) e beneficiando pessoas (geração de renda).

Advanced Computational Methods for Agriculture Machinery Movement Optimization with Applications in Sugarcane Production

This paper considers the evolution of processes applied in agriculture for field operations developed from non-organized handmade activities into very specialized and organized production processes. A set of new approaches based on the application of metaheuristic optimization methods and smart automatization known as Agriculture 4.0 has enabled a rapid increase in in-field operations’ productivity and offered unprecedented economic benefits. The aim of this paper is to review modern approaches to agriculture machinery movement optimization with applications in sugarcane production. Approaches based on algorithms for the division of spatial configuration, route planning or path planning, as well as approaches using cost parameters, e.g., energy, fuel and time consumption, are presented. The combination of algorithmic and economic methodologies including evaluation of the savings and investments and their cost/benefit relation is discussed.

Patient and Public Involvement (PPI) in Health Economics Methodology Research: Reflections and Recommendations.

Patient and public involvement (PPI) can be used in methods research, as well as applied research, in health economics. However, methods research goals may seem quite abstract when compared to the lived experiences of lay participants. This article draws on 4 years of PPI in a research project to develop methods for including family carer outcomes in economic evaluation. Key challenges in using PPI for health economics methods research relate to (1) training and preparation, (2) maintaining involvement, and (3) selecting suitable tasks. We suggest three criteria for selecting a research task for PPI input based on task importance, professional researcher skills gap, and potential PPI contribution.