Forecasting hospitality revenue with economic wave models: A trigonometric approach to science and non-science labor elasticity

Competition law is ordinarily complex and multi-dimensional requiring detailed analysis and balancing of economic efficiencies, innovation, productivity, and consumer costs. However, competition law has an additional dimension of complexity in eras of strategic conflict as national security becomes a factor for regulators. The complexity in the era of China-US strategic rivalry is particularly acute for three reasons. One, the expanding conceptualization of national security means that security is no longer relegated solely to defence from armed attack but encompasses economic, technological, and ideological power. Two, large and strategic corporations are the leading economic actors globally, inextricably connected to economic, technological and ideological power, and therefore constitute paramount national security assets. Three, the two great powers have contrasting economic governance models. China’s distinct political-economic governance raises speculation that Chinese corporations are under the influence of a corporate parent, the Party-state, and utilized to advance Party-state objectives. This paper endeavours to outline and discuss competition law in the era of strategic conflict from a US and EU regulatory perspective and offers some pathways on analysing the issues.

Hierarchical economic model predictive control of coupled SWRO–PEM hydrogen production systems

Optimal energy management of buildings using neural network-based thermal prediction and economic model predictive control

The aim of this study is to assess the geoheritage of the Uly-Zhilanshik River Basin in the Turgai Depression (Western Central Kazakhstan) and to evaluate its potential for conservation and sustainable geotourism deve lopment. The basin is a geoheritage area of national and international significance, preserving well-exposed Cenozoic stratigraphic sections that document paleoenvironmental evolution and hosting numerous fossil flora and fauna localities that inform regio nal paleoclimatic and paleoecological reconstructions. These geological and paleontological features constitute a natural archive of Earth history and provide a scientific basis for territorial planning and conservation policy. The research combined field surveys of geological and geomorphological sites with an assessment of geotouristic attractiveness of natural complexes, comparative-geographical and socio-cultural analyses, and a review of environmental protection regulations. A SWOT analysis was additionally applied to identify strengths, constraints, development opportunities, and potential risks associated with tourism growth. The study demonstrates the high scientific, educational, and touristic value of the Cenozoic sections, paleontological localities, and associated landscapes, and identifies prospects for integrating geotourism into nature conservation initiatives and regional management strategies. Key directions for sustainable development are outlined, highlighting geotourism as a practical conservation instrument and a viable alternative to resource-extractive economic models. The results support the need for targeted protection measures, responsible access planning, and the incorporation of the Uly-Zhilanshik Basin into broader geoheritage and geopark frameworks within the Turgai Depression.

Follitropin delta, using a personalized dosing regimen, is an effective treatment option for women undergoing controlled ovarian stimulation (COS) for in vitro fertilization (IVF)/intracytoplasmic sperm injection (ICSI). The aim of this study was to develop a model to determine cost effectiveness of follitropin delta compared with follitropins alfa and beta for women undergoing IVF/ICSI in France. A decision-tree model was developed comparing the outcomes of treatment with follitropin delta versus other follitropins through ongoing pregnancy (OP) and live birth (LB) rates in fresh cycles. Pooled data from the pivotal clinical trials ESTHER (EU + rest of world; NCT01956110), GRAPE (Pan-Asia; NCT03296527), and STORK (Japan; NCT03228680) was used for the economic model. The analyses were stratified by age and ovarian reserve profile and reflected a single COS cycle. Costs were estimated from the healthcare perspective in France, and uncertainty was assessed through sensitivity analyses. In women with an elevated anti-Müllerian hormone level (≥15pmol/L), follitropin delta achieved a higher rate of LB (31.4% vs 25.8%, p=0.01) and a numerically higher rate of OP (35.7% vs 31.6%) compared with follitropins alfa/beta. Additionally, treatment with follitropin delta was associated with numerically fewer miscarriages (4.3% vs 5.8%) and lower ovarian hyperstimulation syndrome (OHSS) incidence (8.2% vs 11.5%). Total treatment cycle cost with/without delivery cost was €5479/€4099 for follitropin delta, €5335/€4191 for follitropin alfa, and €5387/€4243 for follitropin beta. The incremental cost-effectiveness ratio was €2579/LB for follitropin delta versus follitropin alfa. Follitropin beta was shown to be less efficient, and more costly (i.e. dominated). Excluding the delivery cost, follitropin delta was more efficient and less costly (i.e. dominant) versus other follitropins. Probabilistic sensitivity analyses supported the deterministic results, showing >76% probability of follitropin delta being dominant when assessing cost per additional OP. Similar results were observed in the overall population of women. Follitropin delta provides an effective alternative to follitropin alfa and beta with a potential cost-savings opportunity, excluding the delivery cost, due to higher OP and LB rates in the fresh cycle transfers.

ABSTRACT Recycling routes influence both the quality of recovered carbon fibers and the environmental and economic value of reusing them. This study examines bulk molding compound composites produced with fibers sourced from post‐industrial waste, pyrolysis, and low temperature solvolysis. Fiber quality was evaluated using microscopy and thermal analysis, and composite performance was measured through tensile, flexural, and shear tests. Post‐industrial waste fibers showed the highest retention of mechanical properties, with flexural strength near 155 MPa, indicating minimal degradation. Pyrolyzed fibers lost tensile strength but still provided reasonable flexural and shear behavior, while solvolyzed fibers showed intermediate performance influenced by surface residues. A techno economic model, combined with a new cost benefit metric and two‐dimensional sensitivity maps, was used to assess how plant capacity and recovery efficiency affect viability. The maps indicate that post‐industrial waste offers stable performance at low cost with immediate environmental gains. Pyrolysis becomes cost effective at moderate production scale, while solvolysis is difficult to justify unless both recovery and plant size are high. Overall, the results demonstrate the environmental and industrial value of high quality recycled fibers and provide a practical basis for selecting sustainable recycling routes.

This study explores the potential of superworm (Zophobas morio) farming within a rural community in Thailand through the Bio-Circular-Green (BCG) framework. Farm data were integrated with findings from in-depth interviews and production method evaluations. The results show that farmers lack knowledge of the BCG concept. The use of superworm frass as an organic fertilizer for tomatoes demonstrates reduced reliance on chemical fertilizers while enhancing soil conditions. The practice of using biological by-products multiple times shows the farm has developed production methods for achieving zero waste. The limited scientific understanding of superworm breeding methods hinders both production and business growth. The implementation remains limited due to insufficient institutional backing, technical assistance, and market distribution. To address this, farmers, researchers, and policymakers need to work effectively to deliver training programs, knowledge exchange, and supportive systems. Strengthening farmer capacity through technical guidance and training programs, alongside improved market structures and certification systems, is essential for advancing sustainable BCG-oriented superworm farming policies. The farming community demonstrates excellent potential to serve as a sustainable insect-based agricultural model following the BCG framework. Superworm farming will create rural employment through specific support programs and unified policy initiatives while also enhancing agricultural sustainability and helping Thailand achieve its BCG development objectives.

Purpose This study aims to extend our knowledge of environmental accounting practices related to the circular economy (CE). This study expands knowledge of environmental accounting practices related to the CE, a topic still in its early stages of research from a stakeholders’ perspective. Design/methodology/approach Thirty-one Spanish waste companies are surveyed on their circular accounting practices associated with CE activities and the influence of relevant stakeholders. Partial least squares structural equation modeling is used to analyze the relationships among these main constructs. Findings Using unpublished definitions of a set of accounting practices related to the CE and an analysis of their company implementation, this study empirically demonstrates the central role of stakeholders in both the adoption of the CE and the development of circular accounting practices. Practical implications This study provides a novel definition and measurement of accounting practices for the CE in the waste sector, along with key accountability indicators. Practitioners can align sustainability accounting with sector-specific circular actions and stakeholder expectations. Accountants, chief financial officers and managers can apply the results to measure and report CE-related impacts in alignment with primary stakeholders. Social implications Circular accounting enhances transparency, accountability and stakeholder trust, thereby reinforcing the role of waste management companies in promoting a more sustainable and equitable economic model. Originality/value The results prompt debate on the impact of CE on the transformation of accounting systems in companies adopting circular practices or principles, especially during their initial CE implementation. Notably, this study offers novel insights from an underresearched yet critical sector and national context, drawing on survey data to illustrate how accounting systems are only being partially adapted to emerging circularity and sustainability reporting requirements.

The Economic and Environmental (EE) model plays a vital role in economic science by describing the interaction between economic growth and environmental factors. In this work, we propose a Physics-Informed Neural Network (PINN) method enhanced by the Theory of Functional Connections (TFC) to solve the EE system efficiently. TFC makes the neural network satisfy the initial conditions, which improves accuracy. Shifted Chebyshev polynomials are used as activation functions. The Subtraction and Average-Based Optimization (SABO) method is applied, and it compared with Particle Swarm Optimization (PSO). The Adams–Bashforth–Moulton (ABM) is used as a numerical method. Using supervised learning, the Levenberg-Marquardt neural network (LMNN) approach is employed. Error analysis and graphical comparisons, shows that the proposed SABO method achieves superior accuracy then the PSO and ABM methods.

Cold supply chains require coordinated inventory and storage decisions to preserve product quality while managing high energy consumption. This paper develops a joint economic lot-sizing model for a two-echelon cold supply chain that explicitly integrates time–temperature-dependent quality degradation with energy consumption in refrigerated warehouses. Unlike traditional approaches, energy is modeled as an endogenous function of warehouse filling level and warehouse temperature, allowing the interaction between inventory volume, energy efficiency, and quality preservation to be captured. The model is formulated under three coordination policies—Lot-for-Lot, traditional agreement, and consignment stock—and solved under joint decision making. Numerical results for chilled and frozen products show that neglecting energy and quality costs can lead to sub-optimal policies with total cost penalties exceeding 300% compared to the proposed integrated optimization. Results further indicate that a consignment stock agreement can reduce total system costs by up to 9% relative to traditional policies, while the optimal lot size is highly sensitive to energy prices, product value, and warehouse temperature. These findings highlight the critical role of jointly optimizing inventory, energy, and quality decisions in cold supply chains and provide actionable insights for designing more sustainable and energy-efficient production inventory systems.

The relevance of the work. In the 21st century, humanity has faced global challenges, among which the issues of environmental degradation, depletion of natural resources and climate change have become particularly acute. Against this background, the traditional linear economic model, which involves excessive use of resources and the generation of a large amount of waste, has exhausted its potential. This is especially critical in the construction industry ‒ one of the most resource-intensive sectors of the world economy. In response to the challenges of modernity, more and more attention is paid to the concept of a circular economy, which allows creating closed production cycles, reducing the burden on the environment. In the context of restoring Ukraine's infrastructure after the war, the relevance of the transition to a circular construction model is growing exponentially. Purpose. The purpose of the article is to comprehensively analyze the possibilities and limitations of implementing a circular economy in the construction industry as a tool for implementing the principles of sustainable development. The research is aimed at studying theoretical foundations, practical experience, international cases, innovative materials and technologies that can transform approaches to the design, construction and operation of facilities. Methodology. The article uses an interdisciplinary approach that combines the concepts of ecological economics, urbanism, architecture, and systems analysis. A comparative analysis of linear and circular economic models is conducted, and examples of successful implementation of circular practices in construction in different countries, including Germany, Great Britain, the Scandinavian countries, and Japan, are studied. Statistical data on material consumption, energy costs, and waste generation in the construction sector are used. Special attention is paid to the analysis of regulatory, institutional, and behavioral barriers to circularity in Ukraine. The results. The author proves that the circular economy is not only an environmentally sound, but also an economically profitable strategy for construction. The use of secondary materials, organic insulation, energy-efficient technologies, and local raw materials allows for a reduction in carbon footprint, reduced waste disposal costs, and improved quality of the living environment. Key barriers to the implementation of a circular approach in Ukraine are identified – from the lack of a regulatory framework to the low level of environmental culture. At the same time, the country’s potential in implementing relevant solutions is highlighted, especially in the context of post-war reconstruction. The article calls for a revision of the paradigm of construction as a technical process and its transformation into a worldview model based on long-term responsibility to society, nature and future generations.

ABSTRACT Esports has become an important phenomenon of the digital age. Despite the rapid development of the esports industry, its legal regulation involves numerous issues. One of the key issues is the monopoly position of video game IP rightsholders who have exclusive rights to their products, which in turn limits the development of independent esports disciplines. This article analyses the factors that contribute to monopolisation in esports; it considers legal and economic models of combating monopoly, and it develops recommendations for improving legislative regulation of this area. It also analyses practical examples, suggests new approaches to optimising legal regulation for esports in EU law, and examines ways to achieve a balance between protecting the rights of video game rightsholders and players (esportspeople) on one side, and the freedom to develop independent esports disciplines on the other.

The Circular Economy (CE) has increasingly emerged as a viable economic model for organizations across the globe. Nevertheless, despite this heightened attention, there is still a lack of in-depth discussion on how circular products should be conceived and developed from the earliest stages of the product life cycle. This article presents a systematic review investigating how the circular economy (CE) can contribute to the product development process (PDP). A total of 4,144 documents were retrieved from the Scopus (557) and Web of Science (3,587) databases. After applying inclusion and exclusion criteria, 84 documents were selected for in-depth analysis. Among these, 13 studies proposed product development models that explicitly integrate circular economy principles and were subsequently compared to the Stage-Gate model. The review identified 17 key benefits and 28 major barriers associated with incorporating CE into PDP reference models. Comparative analysis revealed how CE principles can be embedded across different stages of product development, highlighting their potential to enhance innovation, sustainability, and value retention. The analysis shows that Circular Economy contributions are predominantly concentrated in the early stages of the Stage-Gate process, particularly during concept development and design, where decisions with the greatest influence on product circularity are defined. This finding is coherent with the premise that, for circularity to be effectively implemented, products must be conceived and designed as circular from the outset. Overall, the findings underscore that the development of circular products is essential for the effective implementation of the circular economy as a business model.

The rapid development of the digital economy has fundamentally transformed the professional role of economists, expanding it beyond traditional analytical and forecasting functions. Modern economists increasingly operate in datadriven environments where economic information must be processed, interpreted, and communicated visually for decisionmakers, clients, and market stakeholders. The growth of e-commerce, digital marketing, and platform-based business models has intensified the demand for specialists capable of integrating economic analysis with visual communication tools. However, higher education programmes in economics often remain focused on quantitative calculations and theoretical modelling, insufficiently addressing the development of visual and applied digital competencies. The purpose of this article is to substantiate the role of computer graphics and design in the formation of professional competencies of bachelor students in economics and to determine their contribution to analytical thinking, visual communication, and applied digital skills within the framework of the digital economy. The research is based on the analysis and synthesis of contemporary scientific literature on digitalisation of economic education, a systemic approach to defining the place of computer graphics and design within economics-oriented educational programmes, and functional analysis of graphic tools used for economic data visualisation. Additionally, the study generalises teaching experience obtained through a laboratory workshop in the discipline “Computer Graphics and Design”, which focuses on practical tasks related to economic analysis, e-commerce, and marketing communication. The findings demonstrate that computer graphics and design perform analytical, communicative, and applied functions in the professional training of future economists. Mastering tools for image processing, infographic development, mock-up creation, and digital advertising enables students to visualise economic data, interpret complex indicators, and present analytical results in a structured and comprehensible form. The integration of graphic tools into economics education enhances students’ ability to analyse market trends, support managerial decision-making, and design visual content for business communication in digital environments. Practical assignments based on real economic contexts contribute to the development of interdisciplinary skills combining economics, design thinking, and digital literacy. Computer graphics and design should be regarded as an integral component of bachelor-level economics education in the digital economy. Their systematic integration into educational programmes strengthens professional mobility, improves graduates’ competitiveness in the labour market, and increases the practical relevance of economic training. The article proposes incorporating design-oriented laboratory workshops into economics curricula as an effective means of developing visual communication competencies. Further research should focus on assessing learning outcomes related to visual-economic skills and expanding interdisciplinary educational models in economics.

Purpose This study investigates the relationship between informal employment (IE) and economic growth (EG) across countries at different stages of development. Specifically, it examines whether IE promotes or constrains EG, and whether institutional factors such as economic freedom (EF) and government expenditure (GE) moderate this relationship. Design/methodology/approach The study employs a balanced panel dataset of 161 countries from 2011 to 2019. Long-run econometric estimators including fixed effects, fully modified ordinary least squares and dynamic ordinary least squares are applied to address endogeneity, serial correlation and unobserved heterogeneity. IE is treated as the key independent variable, while per capita income, GE, EF and unemployment are included as control variables. A quadratic specification is incorporated to capture non-linear threshold effects. Findings The results confirm a statistically significant inverted U-shaped relationship between informality and EG. Moderate levels of IE initially support growth, but excessive informality inhibits gross domestic product (GDP) per capita growth. EF and GE exert significant positive effects on growth. Unemployment exhibits an indirect short-run positive effect by pushing workers into informal activities that sustain consumption and productivity. The positive growth effect of informality is strongest in emerging economies and weakest in high-income countries. Research limitations/implications This study reinforces the need to incorporate IE into mainstream economic development models rather than treating it as a residual labour category. The findings confirm that the relationship between informality and growth is non-linear and income-dependent, suggesting that future research should examine threshold levels of informality across different institutional settings and sectors. The results also highlight the importance of accounting for unpaid and informal work in national accounts, labour-market modelling, and development theory. Scholars may further extend this research by exploring how digitalisation, automation, and financial inclusion influence the transition from informal to formal employment. Practical implications The results show that the informal sector (IS) is a major source of jobs and economic stability, especially in emerging economies. Policies should not try to remove informality suddenly but should improve working conditions and support a gradual shift toward formality. Measures such as skills development, entrepreneurship support, financial inclusion, and digital access can increase income and productivity. Policy design should differ across income groups and sectors because the impact of informality on growth is not uniform. Social implications The IS plays a central role in reducing poverty by offering work to low income and vulnerable groups. Expanding access to microfinance, social protection, and skill building can improve income security and reduce inequality. Supporting informal workers can contribute to more inclusive growth where formal jobs are limited. Originality/value This study is one of the few that analyses the nonlinear link between IE and EG across many countries while combining dual sector theory, the Kuznets curve, and institutional perspectives. It offers evidence for designing development policies that support inclusive and sustainable growth.

Freeze-thaw-leaching coupling technology has become the frontier direction for the remediation of hydrophobic organic polluted soils such as naphthalene. This paper systematically reviews the multiphase migration mechanism of non-aqueous liquids (NAPLs) in the gas-enveloping zone and aquifer, and points out that the freeze-thaw cycle induces pressure through the volume expansion of the "ice-water-gas-soil" multiphase interface, which can reactivate the retained naphthalene and enhance its upward migration mobility. On this basis, the solubilization-desorption mechanism of naphthalene by surfactant synergistic leaching (SER) was analyzed: when the concentration was higher than the critical micelle concentration (CMC), the micelle hydrophobic nuclei encapsulated the naphthalene molecule, significantly reducing the water-soil interfacial tension and achieving efficient desorption of naphthalene. Anionic and nonionic surfactants (Triton X-100, Tween 80, SDBS, rhamnolipids, etc.) can remove naphthalene by more than 70% under alkaline, low salt and moderate flow rate (1–3 cm min⁻¹). The coupling process of "freeze-thaw cycle surfactant segmented leaching" is further proposed: the temperature gradient is used to drive the migration of unfrozen water to the freezing front during the freezing period, and the naphthalene enrichment is carried away. During the melting period, the naphthalene-containing leachate was quickly separated by negative pressure suction, which not only overcame the bottleneck of low permeability and strong tailing effect of cohesive soil, but also reduced the amount of surfactant and energy consumption. The field feasibility test showed that after 3–5 freeze-thaw-leaching cycles, the concentration of naphthalene in cohesive soil could be reduced from the initial ~500 mg kg⁻¹ to below the risk control value (<20 mg kg⁻¹), and the energy consumption was reduced by 35% compared with traditional hot leaching. This study provides a green, efficient and economical new remediation model for naphthalene-polluted cohesive sites in cold or seasonal frozen soil areas.

Considerations for enhancing the credibility of health economic models: a review

To evaluate the clinical effectiveness and economic impact of implementing first-trimester screening involving placental growth factor (PlGF) followed by aspirin prophylaxis for the prevention of preterm pre-eclampsia in routine obstetric practice. This retrospective cohort study was conducted at a tertiary maternal-fetal medicine center that implemented a first-trimester screen-and-prevent strategy for preterm pre-eclampsia. Two time periods were compared: a preimplementation phase (August 2011 to June 2014), during which risk assessment for pre-eclampsia was performed for research purposes without prophylactic aspirin administration; and a postimplementation phase (July 2017 to February 2024), during which women who screened as high risk for preterm pre-eclampsia were given aspirin prophylaxis (160 mg daily until 36 weeks' gestation). Risk assessment was based on the Fetal Medicine Foundation competing-risks algorithm, applied with and without the inclusion of PlGF. The primary outcome was the incidence of preterm pre-eclampsia (< 37 weeks). Secondary outcomes included preterm birth (< 37 weeks), overall pre-eclampsia and estimated healthcare cost savings based on national birth data. This model included the direct medical costs of neonatal management of preterm birth and lifetime costs of cerebral palsy. Adjusted odds ratios (aORs) for preterm pre-eclampsia were estimated using multivariable logistic regression analysis. Among 11 061 singleton pregnancies screened between 11 + 0 and 13 + 6 weeks' gestation, 3216 were screened during the preimplementation period and 7845 during the postimplementation period. The incidence of preterm pre-eclampsia declined from 1.1% to 0.6% between phases (aOR, 0.41 (95% CI, 0.25-0.68)). The overall rate of pre-eclampsia also decreased between phases(2.5% vs 1.4%; aOR, 0.51 (95% CI, 0.37-0.70)), as did that of preterm birth (5.9% vs 4.7%; aOR, 0.76 (95% CI, 0.63-0.92)). The protective effect of aspirin was most pronounced among women identified as high risk using a PlGF-based screening algorithm (aOR, 0.51 (95% CI, 0.28-0.92)), while no significant effect was observed in the group identified as high risk using an algorithm without PlGF. An economic model projected that this strategy would prevent 403 cases of preterm pre-eclampsia annually in a national cohort of 110 000 pregnancies, with estimated cost savings of €27.7 million. Real-world implementation of PlGF-based screening with aspirin prophylaxis significantly reduced the incidence of preterm pre-eclampsia and preterm birth, and was associated theoretically with substantial health-system cost savings. These findings support consideration of the nationwide adoption of early screen-and-prevent strategies for hypertensive disorders of pregnancy. © 2026 International Society of Ultrasound in Obstetrics and Gynecology.

Bevacizumab was approved for first-line treatment of metastatic colorectal cancer (mCRC) in 2004. However, adding bevacizumab to treatment consistently fails to be cost-effective owing to modest response rates. Recently, the European Commission (EC) funded ANGIOPREDICT consortium ( www.angiopredict.com ) identified a link between bevacizumab treatment response and intermediate-to-high chromosomal instability (CIN) in mCRC. Thus, the objective of the current study was to compare the cost-effectiveness of adding bevacizumab with first-line chemotherapy in the bevacizumab responsive CIN subtype across three European countries (Germany, Ireland and Spain) with varying costs of care and reimbursement policies. We developed an open-source health economic model to estimate cost-effectiveness. The ANGIOPREDICT cohort informed progression risks and cause-specific mortality. Health utilities and adverse events probabilities were obtained from the literature. Costs were derived from surveys of collaborating consortium hospitals in Germany, Ireland, and Spain that participated in the recently completed EC funded COLOSSUS translational study (ANGIOPREDICT successor initiative) and the literature. Sensitivity analyses included individual and simultaneous variation of input parameters from a priori defined distributions. Bevacizumab was not cost effective even at willingness-to-pay (WTP) thresholds that are appreciably higher than those considered realistic. The highest incremental cost-effectiveness ratio (ICER) was in Germany at €241,188 per quality-adjusted life year (QALY), while the lowest was in Ireland at €180,477 per QALY. All deterministic and probabilistic sensitivity analyses demonstrated that these results were robust. Even for patients with mCRC manifesting improved outcomes, adding bevacizumab to first-line chemotherapy is invariably not cost-effective in any of the countries examined. Variability in pricing, healthcare costs and WTP thresholds across countries did not commute this result.