Economic Rationale Research Articles

Grow or die! Land-use strategy mismatch in the ‘post-political’ metropolitan planning era

Metropolitan spaces are perceived as spatiotemporally dynamic entities where traditional settlement patterns transform into heterogeneous post-suburban forms, integrating complex networks of social and economic relationships. Inadequate coordination in local spatial planning is commonly seen as a crucial factor contributing to landscape fragmentation and persistent urban sprawl. The current ‘post-political’ era of metropolitan planning supposedly offers less formalized problem-solving approaches that are not burdened by institutionally fixed settings and excessive bureaucratic structures. However, it is not clear whether and how integrated metropolitan strategies emerging within the ‘soft spaces’ of governance can influence the local spatial strategies of individual municipalities and what spectrum of attitudes various stakeholders in the metropolitan area hold towards spatial and population growth. The main research question is: What differences in approaches to territorial and population development of settlements in the metropolitan area are observed from the perspective of various public administration actors? Using a case study of the Brno Metropolitan Area (Czech Republic) and employing quantitative spatial analysis of recent and planned population and spatial development, along with qualitative textual analysis of planning documentation rationale at various scales impacting the metropolitan area, this article elucidates the narratives typically underpinning pro-growth planning strategies. Additionally, it contextualizes the meanings attributed to the metropolitan dimension of development at the local level. The findings suggest a negligible impact of integrated metropolitan strategy on local land-use policies. Competitive mechanisms of municipal spatial planning contradicting metropolitan authority visions exacerbate the crisis of spatial identities and residential cannibalism. Population growth in the hinterland triggers narratives of inevitability, adaptation, smart growth, economic rationality, and population rejuvenation at the local planning level, culminating in land oversupply. The results provide urban policies with an explanatory framework for the diversity of attitudes towards spatial and land-use planning within the multi-scale metropolitan arena and argue for the introduction of more effective integrated metropolitan spatial planning tools.

Substitution: On the Animating Spirit of Economic Rationality

The term ‘substitution’, given minimal attention in thinking, became important in modern logic, but its treatment is highly technical. After a short review of its conceptual-historical background, the article discusses two important contemporary social and cultural theorists of substitution, Roberto Calasso and Michel Serres. It then turns to William Stanley Jevons, who first took up Boole’s logic, formulated the principle ‘substitution of similars’, the presumed heart of reasoning itself, constructed the first computer, and was a founder of neoclassical economics. The coincidence of these innovations in Jevons, through ‘substitution’, captures the way the modern world was set on its current trajectory, progressing towards a ‘substitution society’. The article concludes that as the key values of human life cannot be substituted, substitution as a general principle applied to human existence is absurd; economic theory, however, as shown in the ideas of Jevons, is founded on the exclusion of such genuine and meaningful concerns.

Cost-Utility Analysis of PCSK9 Inhibitors and Quality of Life: A Two-Year Multicenter Non-Randomized Study.

The primary objective of this study was to conduct a cost-utility analysis of proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitors in real-world, comparing their use with standard care for managing cardiovascular disease. A multicenter prospective study was conducted across 12 Spanish hospitals from May 2020 to April 2022, involving 158 patients with hypercholesterolemia or atherosclerotic cardiovascular disease. This study assessed health-related quality of life (QoL) using the EQ-5D-3L questionnaire. The cost-utility analysis evaluated the economic impact of PCSK9 inhibitors when used with standard care compared to standard care alone, calculating the incremental cost-effectiveness ratio (ICER). This study included 158 patients with an average age of 61 years, male (66.5%). For patients initiating PCSK9 inhibitors, the treatment cost was EUR 13,633.39, while standard therapy cost EUR 3638.25 over two years. QoL for PCSK9 inhibitors stood at 1.6489 over two years, compared to 1.4548 for standard therapy. The results revealed favorable cost-utility outcomes, with an ICER of EUR 51,427.72. Significant improvements were observed in the domains of mobility, self-care, daily activities, pain/discomfort, and anxiety/depression (p < 0.001). This study presents the first real-world cost-utility analysis of PCSK9 inhibitors, supporting their economic rationale and highlighting their benefits in clinical practice. Healthcare decision-makers can use these results to inform their decisions and reimbursement policies concerning PCSK9 inhibitors. Trial Registration clinicaltrials.gov Identifier: NCT04319081.

The Power of Speed: High-speed Railways and Scientific Research Competitiveness in China

This paper investigates the impact opening of high-speed railways (HSR) on scientific research competitiveness using data from the National Natural Science Foundation of China (NSFC) research grants. We employ a difference-in-differences framework to estimate the causal effects of the treatment universities being connected to HSR. Our results indicate that the treatment universities experience significant improvements in their scientific research competitiveness. To understand the underlying mechanisms, we conduct analyses that reveal the extensive positive effects of HSR on human capital accumulation, government funding, and information resources. These findings offer empirical evidence supporting the economic rationale for HSR and shed light on the microscopic mechanisms that facilitate positive spillover of knowledge creation and innovation resources from large cities to small cities through transportation infrastructure.

Çevresel, sosyal ve ekonomik sürdürülebilirlik bilincinin ve algılanan tüketici etkinliğinin sürdürülebilir tüketim bağlamında incelenmesi

This systematic literature review examines the environmental, social and economic dimensions of sustainability consciousness within the framework of altruistic and selfish approaches. The study aims to analyse the effects of these consciousness levels on sustainable consumption. The research covers academic studies published in Web of Science, Scopus and Google Scholar databases between 2010 and 2024. Environmental sustainability awareness includes individuals' awareness of ecological problems and the environmental impacts of consumption behaviours. Social sustainability awareness focuses on issues of justice, equality and social welfare. Economic sustainability awareness enables consumers to act from the perspective of economic rationality. Perceived consumer effectiveness (PCE) is emphasised as a critical antecedent of sustainable consumption. High ATE increases the likelihood of individuals adopting sustainable consumption behaviours. In conclusion, this systematic literature review offers recommendations for understanding and enhancing perceived consumer effectiveness by comprehensively addressing environmental, social and economic sustainability awareness. For future research, the study suggests comparing different dimensions of sustainable consumption between developing and developed countries and exploring the intrinsic motivations behind sustainable consumption behaviours.

‘Economic constitutionalism in a turbulent world’: a critical review

Abstract The article analyses the book Economic Constitutionalism in a Turbulent World edited by Skordas, Halmai and Mardikian, criticising the assumptions of societal constitutionalism and ordoliberalism on which it is based. The book concurs with the view that the current crisis of global legal institutions cannot be tackled going back to Nation States. Such an assumption seems to be inspired by societal constitutionalism à la Teubner. In contrast to traditional constitutionalism, which hinges on the dichotomy between constituent and constituted power, societal constitutionalism assigns a central role to independent institutions, whose main function is to avoid any hegemony of one social sub-system over another, in particular of politics over economics. The limit of societal constitutionalism lays in its assumption that the economic sub-system has its own rationality that the political–constitutional system can only irritate, taking for granted that the paradigm of that economic rationality is the one established after 1989, thus implicitly adhering to the neo-ordoliberal vision and legitimising its absolute immanentism. Coming to the materiality of the issues underlying the book, most of the contributions conceive globalisation as an engine for the increase of global prosperity. This confidence rests in the Ricardian theory of comparative advantage. However, the latter is valid only under condition of restrictions on the movement of capital. Another assumption made by several contributions is the theory of the varieties of capitalism, according to which individual models of capitalism tend to stabilise around certain production regimes whose key actors are large firms and business associations. According to an alternative, neo-Kaleckian paradigm, there is no natural convergence of the actors of the economic system towards a mutually beneficial institutional set-up, and it is quite unlikely that, without the external intervention of politics, the system can return to equilibrium.

Between Public and Private: A Study of the Rural Fertilization System during the Collectivization Period (1949–1963) – With a Focus on Shanxi Province

Abstract Manure is a critical productive resource for agricultural development. With the advancement of the collectivization movement, household manure accumulation became a key source of fertilizer for collective agricultural operations. However, the process of farmers contributing fertilizer to the collective faced setbacks due to factors such as unreasonable compensation. In response, various localities gradually developed fertilization systems centered around tasks, compensation, and rewards and penalties. The essence of these systems was an economic balance between collective fertilizer use and increased farmer income, generally characterized by considerations for both public and private interests, but prioritizing the public over the private. In the dynamic restructuring of the relationship between labor input and income distribution, political norms and economic measures adjusted to one another. The economic rationality of the peasants interacted with the “egalitarianism” culture in rural areas, reflecting the complex interplay between public and private interests during the collectivization period in rural society.

To What Extent Are Taxes on Cigarettes Effective and How Does the Impact of These Taxes Affect Across Income Groups?

In this project, it will analyze the effectiveness of cigarette taxes and their impact on consumers of different income levels. The nature of cigarettes and the factors that determine the effectiveness of cigarette taxes will be considered, as well as the risks that cigarettes and cigarette taxes will bring. In particular, it will explore how consumers of lower and higher income, are impacted differently. In academic literature there is significant debate over the effectiveness or cigarette taxes. This paper will contribute to this debate by considering the impact of cigarette taxes on smokers of different income level from their perspectives. In this study, my goal is to demonstrate the effectiveness of cigarette taxes varies across income groups. Specifically, this paper will investigate the economic rationale for cigarette taxes, how the impact of these taxes varies across income groups, and the causes of this variation in effectiveness. The rest for this paper will be organized as follows. The introduction will present the background and importance related to this paper. The literature review will survey the current debate on cigarette tax effectiveness and will summarize the evidence. The discussion section will: explain why cigarettes need to be taxed, study the price elasticity of cigarettes and how this determines the impact of the tax on smoking level, and discuss how high- income and low-income groups are affected by cigarette taxes, differently. The conclusion will summarize the research findings and outline areas for future work.

Connecting gender balance, crisis resistance and innovativeness in the forestry sector: Women in leadership and management

Much of the research on forestry innovation is based on models of economic rationality that are presumed to be universal and “a-gendered.” This article understands that economic processes are not “neutral” and seeks to produce empirical insights into the perceptions of gender in the male-dominated forestry sector. How does perceived gender balance in a forestry-related organisation contribute to its resilience to economic, ecological, climate-related and other contemporary crises, as well as its innovativeness? To examine the importance attributed to gender balance for resilience and innovation, we undertook a representative web survey amongst the principal Austrian forestry-related companies, institutions and agencies. The results show some links between gender and innovation, but not between gender and resilience. We then complemented the survey with in-depth interviews with high-level female representatives from the Austrian forestry sector, focusing on their personal experiences and opinions as both experts and the sole ones who made it in a sector of skewed gender balance and strong misrepresentation. Our findings reveal a contradiction between the survey results on the importance attributed to gender balance within forestry-sector organisations and the inequalities that successful women in high-level leadership positions reported in the interviews. The article discusses how gendered norms are relevant for economic outcomes and must be integrated into all related research efforts. Our findings challenge academic positions that regard economic issues and societal questions like gender balance to be strictly separated.

Here to stay? The rapid evolution of the temporary staffing market in Iceland

In recent years there has been a significant shortage of workers in Iceland. The traditional method of arranging temporary work, through direct contracts between employees and employers, has not sufficed. Moreover, there is a skills mismatch that compounds the shortage of workers as the sectors that have grown most rapidly in recent years mainly employ unskilled labor. This study examined the historical background of temporary work in Iceland, recent developments and in particular the growing importance of temporary staffing agencies, as well as the economic rationale for temporary staffing agencies, and the segmented labor market in Iceland. The study employs expert opinion approach, together with content and statistical analysis. Experts placed strongest emphasis on temporary workforce dependency on economic conditions, closely followed by sector triggered temporary workforce fluctuation. Socio-legal infrastructure for temporary workforce had the third strongest emphasis with other themes being less emphasized. These dramatic changes to the Icelandic labor market have undoubtedly had a significant impact on Icelandic society but there is surprisingly little research available into this. The efforts of unions and the Federation of Employees have helped to push through legislation on temporary staffing agencies and the rights of foreign workers, however, as long as there is economic rationale for their operation and a legal and regulatory framework that accommodates them the agencies can be expected to continue bringing temporary staff to Iceland. The impact on the labor market and society thus seems likely to be permanent.

(Non-state) actors in internal bordering and differential inclusion: Syrian refugees’ housing experience in Turkey

ABSTRACT Turkey, as the largest refugee-hosting country, provides insights into the externalization of European borders and the internalization of its own borders. Oscillating between open-door and strict-border policies, alongside the political inactiveness of public authorities and CSOs governing Syrian mobility, Turkey reveals crucial dynamics. Focusing on Syrian refugees’ housing in a refugee hub of Izmir, this study unravels internal bordering and explores its rationales and the involvement of non-state actors. Syrian refugees encounter three internal bordering mechanisms affecting their housing inclusion: selective overpricing, ethnic filtering and arbitrary interrogations. These differential inclusion practices, led by market actors (landlords and realtors), ethnic networks, and street-level bureaucrats (mukhtars and municipal officers), are driven by the prevalence of anti-refugee sentiment in Turkey, where Syrians are perceived as unwanted or undeserving. The internal bordering mechanisms are rooted in ethnic, economic, cultural, and security-based rationales, influenced by the personal interests and socio-economic backgrounds of the involved actors.

Recent advances in embedded technologies and self‐sensing concrete for structural health monitoring

AbstractFully embedded and spatially diffuse sensors are central to the advancement of civil and construction engineering. Indeed, they serve as an enabling technology necessary for addressing the current challenges associated with through‐life management and structural health monitoring of existing structures and infrastructures. The need to identify structural issues early on has driven the integration of such embedded sensing capabilities into construction materials, turning passive structures into proactive, self‐aware “entities,” commonly referred to as Smart Structures. The economic rationale behind this endeavor is underscored by the vital significance of continuous monitoring, which enables prompt anomaly assessment and thus mitigates the risks of potential structural failures. This is particularly relevant for road and rail infrastructures, as they represent a substantial and enduring investment for any nation. Given that a large majority of these large infrastructures are composed of concrete and reinforced concrete, both academics and construction companies are continuously researching micro‐ and nano‐engineered self‐sensing solutions specifically tailored for this building material. This comprehensive review paper reports the latest advances in the field of self‐sensing concrete as of 2024, with an emphasis on intrinsic self‐sensing concrete, that is, electrically conductive functional fillers. A critical analysis and a discussion of the findings are provided. Based on the perceived existing gaps and demands from the industry, the field's future perspectives are also briefly outlined.

The European Semester as a Policy Instrument in Education—The Cases of Spain and Sweden

ABSTRACTIn this article we examine the European Semester as an innovative form of policy coordination, with distinct effects on education and skills policies for Member States. We analyse the Semester's framing of education policy, and examine its manifestations in Spain and Sweden, two countries considered to be different in their approach to education. Drawing on a policy instrumentation approach and interviews with policy actors and documentary analysis, our research suggests that while the Semester has given education policy a significant place within the EU's governance, economic rationales for education are clearly dominant in the process. Still, we identify underpinning logics that strengthen the social and educational perspectives represented in the Semester, although these are still treated as productive forces for labour market integration. In addition, there is a strengthening of collaboration between the European Commission and Member States, but also tensions between different parts of the Commission over the definition and direction of education policy.

The merger-specificity of efficiencies: ensuring consistency of assessment between regulatory concerns, efficiency claims and remedial commitments

Companies pursue mergers and acquisitions as a way to unlock benefits not available to them on a standalone basis. Competition regulators assess such deal rationales both for the purpose of understanding whether a transaction may have detrimental effects on competition and whether any associated benefits may outweigh such concerns. This article analyses the economic rationales that the European Commission has relied on for the assessment of whether efficiency claims are merger-specific and explains how its reasoning also is important for the assessment of any effects the transaction may have on competition. Despite the strict evidentiary standard for merger efficiency claims raising significant obstacles to the success of such claims, demonstrating the merger-specificity of claimed merger efficiencies can therefore nonetheless be valuable as a way to ensure the analytical rigour that may demonstrate that there is no competition issue for any efficiency claim to resolve in the first place or that any such issues can be addressed through appropriate remedies.

From code to coin: Unravelling the practical business impact of algorithmic pricing

This paper examines the impact of algorithmic pricing on company value and presents the results of 31 expert interviews in various industries. The focus is on nine hypotheses, including the efficiency of automation, segmentation and value-based pricing, efficient resource allocation, perception of fairness, price transparency and uncertainty, the use of personal data and price competition. The surveys show that algorithmic pricing has considerable potential for efficiency gains through automation, particularly in terms of revenue growth. The potential for cost savings, however, varies from sector to sector. Segmentation and value-based pricing are proving to be feasible, but their implementation requires clear justification and economic rationale. Efficient resource allocation through dynamic pricing shows potential, especially in industry-specific scenarios. The perception of unfairness can have a negative impact, however, and personalised pricing risks alienating customers and reducing business value. Price transparency and uncertainty have a mixed effect, as customers often place more value on the transparency of alternative offers than on the company’s pricing process. The use of personal data poses a low risk to company value if it is transparent and mutually beneficial. The potential intensification of competition through algorithmic pricing depends on the market structure and the company’s objectives; however, algorithmic pricing can be used as an instrument to reduce price competition and increase company value. Overall, the results make it clear that the integration of algorithmic pricing strategies must be carefully and ethically designed in order to sustainably increase company value.

In Defense of Central Bank Independence against its Enthusiasts

The problem of time inconsistency provides the basic economic rationale behind the independence of central banks, understood as the most suitable institutional mechanism for ensuring price stability. According to the consensus that emerged in the 1990s and the 2000s, endowing the central bank with independent decision-making authority over the use of monetary policy instruments, with a mandate for price stability, enhances the effectiveness of monetary policy and reduces the inflation volatility. It may be surprising that criticisms of the once almost sacrosanct independence arise after the Great Financial Crisis, when it is widely recognized that central banks “saved the world” from repeating the Great Depression of the 1930s. The paper is an attempt to explain the rationale why these cracks in the consensus have arisen and offers suggestions what to do about it. Independence has an economic basis that is as solid as its political foundation is fragile, because central banks are unelected power. And in the realm of economics and politics, the political economy of central banking may help us understand the evolution of the degree and the specific form of independence because of both internal and external political and economic constraints. The paper examines these issues in some detail, to contextualize the economic and non-economic threats to independence and discusses possible mitigants. Properly assessing the challenges is a prerequisite for preserving the value of this institution, which is perhaps the most important and effective institutional innovation of our time in macroeconomic policy.

Economic foraging in a floral marketplace: asymmetrically dominated decoy effects in bumblebees.

While most models of decision-making assume that individuals assign options absolute values, animals often assess options comparatively, violating principles of economic rationality. Such 'irrational' preferences are especially common when two rewards vary along multiple dimensions of quality and a third, 'decoy' option is available. Bumblebees are models of decision-making, yet whether they are subject to decoy effects is unknown. We addressed this question using bumblebees (Bombus impatiens) choosing between flowers that varied in their nectar concentration and reward rate. We first gave bees a choice between two flower types, one higher in concentration and the other higher in reward rate. Bees were then given a choice between these flowers and either a 'concentration' or 'rate' decoy, designed to be asymmetrically dominated on each axis. The rate decoy increased bees' preference in the expected direction, while the concentration decoy did not. In a second experiment, we manipulated choices along two single reward dimensions to test whether this discrepancy was explained by differences in how concentration versus reward rate were evaluated. We found that low-concentration decoys increased bees' preference for the medium option as predicted, whereas low-rate decoys had no effect. Our results suggest that both low- and high-value flowers can influence pollinator preferences in ways previously unconsidered.

Evaluation of Growth Performance and Carcass Characteristics of Guraghe Bulls Under Various Feeding Regimes

The experiment was conducted on yearling Guraghe bulls, with an average initial body weight of 111.91 ± 3.98 kg, to evaluate their growth performances and carcass characteristics under three different feeding options and to identify the most economical dietary rations. Twenty-one experimental bulls were randomly assigned to three dietary rations: T1 = Rhodes grass hay ad-libitum + 20% molasses + 40% wheat bran + 40% noug seed cake, T2 = Rhodes grass hay ad-libitum + 20% maize grain + 45% wheat bran + 35% noug seed cake and T3 = Rhodes grass hay ad-libitum + 65% wheat bran + 35% cotton seed cake. The bulls were acclimatized to the experimental diets for days, and the actual feeding trial lasted for 26 weeks. The animals’ weights were recorded at 14-day intervals. At the end of the 26 weeks three bulls from each treatment group were randomly selected for carcass evaluation. There were no significant differences (P&amp;gt;0.05) in live weight parameters and carcass characteristics among the treatments. The overall means for total weight gain, average daily gain, and carcass dressing percentage were 112.86 kg, 620g/day, and 57.34%, respectively. The yearling Guraghe bulls did not reach export market weight within 26-weeks of the feeding period. Additionally, the partial budget analysis indicated that fattening yearling Guraghe bulls with the current feeding options were not profitable. This suggests that fattening Guraghe bulls with the current feeding options for twenty-six months is economically not viable. It is recommended to evaluate the growth performances of Guraghe bulls with other feeding options to achieve an export market weight of 250-300 Kg.

Navigating gendered spaces: a feminist phenomenological exploration of women entrepreneurs lived experiences within government support agencies

PurposeThis article explores women entrepreneurs' lived experiences in their interactions with government enterprise support agencies. It investigates the relationship between gendering and Entrepreneurial Orientation (EO), as a normative orientation adopted at the institutional level and justified by an economic rationale. It also explores how women entrepreneurs articulate their experiences through embodied metaphors and image schemas, shedding light on how they navigate the institutional entrepreneurial space.Design/methodology/approachThis study is framed within the concept of Phenomenological Orientation as conceptualised in feminist phenomenology. It applies Interpretative Phenomenological Analysis, a qualitative methodology focused on interpreting accounts of first-person lived experiences of a phenomenon. It combines IPA with Conceptual Metaphor Theory to understand women's articulation of their embodied relationship within the entrepreneurial space.FindingsFindings reveal that the entrepreneurial orientation functions as a gendering process within entrepreneurial institutions, reinforcing masculine hegemonic ideals and marginalising women entrepreneurs. Women's phenomenological orientations often diverge from the normative entrepreneurial orientation, highlighting the need for a more inclusive framework in institutional entrepreneurial spaces.Research limitations/implicationsThis article contributes to women's entrepreneurship literature by underlining the temporal dimension of entrepreneurship and the tension that underpins their interactions with government support bodies. It calls for inclusive policies and procedures to match the heterogeneity of orientations. While highlighting its limitations, it also suggests future research directions to deepen the understanding of entrepreneurship and inform more suitable support structures for all entrepreneurs.Originality/valueThis study contributes to the literature by shedding light on the nuanced interplay between gendering, entrepreneurial orientation, and women entrepreneurs' lived experiences. It extends previous research by framing “orientation” within a temporality framework, offering a novel perspective on the gendering of entrepreneurial spaces.

Between political legitimacy and strategic competitiveness: Overseas corporate social responsibility patterns of Chinese international contractors

This article examines the overseas corporate social responsibility (CSR) patterns of Chinese international contractors (CICs). Adopting an institutional and political economy approach, a unique dataset is constructed with country-specific contents drawn from CSR-related reports and website information of 50 top CICs. This dataset provides a foundation for systematic content analysis of CICs’ overseas CSR practices, revealing that both political legitimacy-seeking and strategic competitiveness-seeking motivations drive CICs’ CSR activities abroad, characterized by the prioritization of customer and community engagement. The findings highlight the coexistence of the exogenous pressures for the national image-building purpose and the endogenous awareness of CSR strategic importance for corporate internationalization. The hybridization of political and economic rationales is presented as the defining feature of CICs’ current overseas CSR patterns, with the balance between them being determined by stakeholder type and internal business needs influenced by corporate internationalization experience.