nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2023‒02‒13
twenty-two papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Post-Keynesian growth theory and the supply side: a feminist-structuralist approach By Mark Setterfield
  2. Inequality-Constrained Monetary Policy in a Financialized Economy By Luca Eduardo Fierro; Federico Giri; Alberto Russo
  3. The charm of emission trading: Ideas of German public economists on economic policy in times of crises By Rouven Reinke; Laura Porak
  4. Calibrating Agent-based Models to Microdata with Graph Neural Networks By Farmer, J. Doyne; Dyer, Joel; Cannon, Patrick; Schmon, Sebastian
  5. Investment Planning and the Input-Output Model in Postwar Europe By Vincent Carret
  6. Енергетичната и екологична икономическа теория на Славчо Загоров (1898 - 1970) By Nenovska, Nona; Magnin, Eric; Nenovsky, Nikolay
  7. Policy relevant, multidisciplinary, disruptive: What kind of research do economists want? By Peter Andre; Armin Falk
  8. Quantifying the Technological Foundations of Economic Complexity By Hardik Rajpal; Omar A Guerrero
  9. Wealth Redistribution and Mutual Aid: Comparison using Equivalent/Nonequivalent Exchange Models of Econophysics By Takeshi Kato
  10. Nationalism as a Response to Worker Militancy By Jon D. Wisman; Nicholas Reksten
  11. Limits to green growth By Marc Germain
  12. Chaotic world: beyond resilience, towards antifragility By Soufyane Frimousse; Hugo Gaillard
  13. By Mohammed B Salma
  14. Avoiding leakage from nature-based offsets by design By Filewod, Ben; McCarney, Geoff
  15. Avoiding leakage from nature-based offsets by design By Filewod, Ben; McCarney, Geoff
  16. Class Boundaries in Spain: Intergenerational and regional changes in the wake of the 2008 economic crisis By Pierre Blavier
  17. Wie gestaltend forschen? Zur Methodologie und Methode einer transdisziplinären Gestaltungsforschung zu volkswirtschaftlichen Fragen By Egerer, Elsa
  18. An appraisal of alternative Ricardian trade models By Ariel Dvoskin; Gabriel Brondino
  19. Opening Research Data: What Does It Mean for Social Sciences? By Héloïse Berkowitz; Hélène Delacour
  20. Foundations of self-progressive choice theories By Kemal Yildiz
  21. Environmentally-Extended Input-Output analyses efficiently sketch large-scale environmental transition plans -- illustration by Canada's road industry By Anne de Bortoli; Maxime Agez
  22. Evolutionary finance: A model with endogenous asset payoffs By Igor V. Evstigneev; Thorsten Hens; Mohammad Javad Vanaei

  1. By: Mark Setterfield (Department of Economics, New School for Social Research, USA)
    Abstract: Post-Keynesian macrodynamics is designed to extend the role of demand in the determination of real economic outcomes beyond the short run. The purpose of this paper is to highlight the importance of supply-side considerations in demand-led growth. Building on existing features of the supply side in Post-Keynesian growth theory, three new developments are highlighted: human capital accumulation, the social reproduction of labour, and the supply-side link between distribution and growth. These new developments are shown to yield new insights into the established themes of reconciling demand and supply in the theory of long-run growth, and the relationship between distribution and growth. Furthermore, the feminist-structuralist model used to explore the social reproduction of labour is shown to be a potential general framework for synthesizing these insights.
    Keywords: Demand-led growth, potential rate of growth, technical change, human capital, human capacities, care-giving
    JEL: B54 E11 E12 O41
    Date: 2023–01
  2. By: Luca Eduardo Fierro (Institute of Economics, Scuola Superiore Sant'Anna Pisa (SSSA),); Federico Giri (Department of Economics and Social Sciences, Universita' Politecnica delle Marche (UNIVPM)); Alberto Russo (Department of Economics, Universitat Jaume I (UJI) and Department of Economics and Social Sciences, Universita' Politecnica delle Marche (UNIVPM))
    Abstract: We study how income inequality affects monetary policy through the inequality household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's debt boom phase. When inequality meets financial liberalization, a leaning against-the-wind strategy can preserve financial stability at the cost of high unemployment, whereas an accommodative strategy, i.e. lowering the policy rate, can dampen the fall of aggregate demand at the cost of larger leverage. We conclude that inequality may constrain the central bank, even when it is not explicitly targeted.
    Keywords: Inequality, Financial Fragility, Monetary Policy, Agent-Based Model
    JEL: D31 E21 E25 E31 E52 G51
    Date: 2023–01
  3. By: Rouven Reinke (University of Hamburg); Laura Porak (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria)
    Abstract: Economists have become very influential intellectuals in our contemporary society. The scientific knowledge produced by the discipline and the academic status of economists can be considered as a decisive power resource in media debates and politics. The current state of economics has been criticized in the past one and a half decades regarding the ontological and epistemic foundations of the discipline and its policy implications. However, especially since the Covid-19 pandemic, it seems as if publicly presented positions have drastically changed. Instead of advocating pure market liberalism, the state is attributed an important position and market failures are discussed intensively. Given these shifts, this paper analyzes the positions that important German economists present after the unfolding of the Covid-19 pandemic about 'the economy' and economic policy. Methodologically, the paper draws on critical discourse analysis (CDA) of recent interviews on the YouTube channel ‘Jung und Naiv’ with leading public economists in Germany. By doing so, this study elaborates on the different dimension of economic knowledge that is articulated by public representatives of economics. On the ontological and theoretical level, we find a rather monistic understanding of 'the economy', involving the interplay between markets and the state. Public economists repeatedly emphasize the superiority of market economies and their price mechanism. With regards to economic policy, a shift from rather free-market approaches towards moderate Keynesianism and market design liberalism becomes apparent, indicating a flexible pragmatism.
    Keywords: economic polciy; economic experts; critical discourse analysis; economic imaginaries
    Date: 2023–01
  4. By: Farmer, J. Doyne; Dyer, Joel; Cannon, Patrick; Schmon, Sebastian
    Abstract: Calibrating agent-based models (ABMs) to data is among the most fundamental requirements to ensure the model fulfils its desired purpose. In recent years, simulation-based inference methods have emerged as powerful tools for performing this task when the model likelihood function is intractable, as is often the case for ABMs. In some real-world use cases of ABMs, both the observed data and the ABM output consist of the agents' states and their interactions over time. In such cases, there is a tension between the desire to make full use of the rich information content of such granular data on the one hand, and the need to reduce the dimensionality of the data to prevent difficulties associated with high-dimensional learning tasks on the other. A possible resolution is to construct lower-dimensional time-series through the use of summary statistics describing the macrostate of the system at each time point. However, a poor choice of summary statistics can result in an unacceptable loss of information from the original dataset, dramatically reducing the quality of the resulting calibration. In this work, we instead propose to learn parameter posteriors associated with granular microdata directly using temporal graph neural networks. We will demonstrate that such an approach offers highly compelling inductive biases for Bayesian inference using the raw ABM microstates as output.
    Date: 2022–06
  5. By: Vincent Carret (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique, Duke University [Durham])
    Abstract: As economic planners sought to rebuild Europe in the unstable postwar period, economic expertise was called upon to help in the drawing of national budgets and to inform economic and planning policies. A tool that circulated from academia to economic administrations was the input-output framework that had been developed by Wassily Leontief since the 1930s. As Leontief came into contact with other economists and with the goals of economic administrations, his framework was repurposed to give answers to the questions of economic planners. Statisticians and economists in Western Europe worked to integrate the input-output framework with the developing national accounts. Looking at their work with a particular focus on investment and development policies, I bring new insights on the role of experts, by showing that the input-output model had little impact on the actual coordination of economic policies.
    Keywords: Leontief, input-output, planning, investment, Europe, instability
    Date: 2022–12–12
  6. By: Nenovska, Nona; Magnin, Eric; Nenovsky, Nikolay
    Abstract: This article aims to rediscover an author relatively unknown to the general public, Slavcho Zagorov, and revive his ideas. Zagorov is a Bulgarian economist and statistician whose main works date from 1954 and are mainly devoted to the concept of energy flow in the economy and human metabolism, explained through the prism of thermodynamics. Criticizing the mainstream economic approach to national income in terms of "value", he developed a new approach of "national income movement". According to Zagorov, national income is "energy movement", which he calculates in terms of primary energy sources. He draws conclusions from direct observations on the economic development of the Danube countries.
    Keywords: B31, B30, N01 , Q43, Q5
    JEL: B30 B31 N01 Q40 Q43 Q50
    Date: 2022–09–15
  7. By: Peter Andre (University of Bonn); Armin Falk (University of Bonn, briq)
    Abstract: Based on a global survey of almost 10, 000 academic economists, Peter Andre and Armin Falk explore what economists perceive to be worthwhile research in their discipline. Finding many economists think that economic research should become more policy relevant, multidisciplinary, and disruptive, and cover a more diverse range of research topics, they suggest that economics and economists would benefit from a more inclusive discussion of the direction in which the field is travelling.
    Date: 2021–09
  8. By: Hardik Rajpal; Omar A Guerrero
    Abstract: The problem of inferring the technological structure of production processes and, hence, quantifying technological sophistication, remains largely unsolved; at least in a generalizable way. This reflects in empirical literature that either focuses on outputs instead of transformative processes, or preemptively assumes the nature of technology. Building on recent advances in information theory, we develop a method to quantify technological sophistication. Our approach explicitly addresses the transformative process where inputs interact to generate outputs; providing a more direct inference about the nature of technology. More specifically, we measure the degree to which an industry's inputs interact in a synergistic fashion. Synergies create novel outputs, so we conjecture that synergistic technologies are more sophisticated. We test this conjecture by estimating synergy scores for industries across nearly 150 countries using input-output datasets. We find that these scores predict popular export-based measures of economic complexity that are commonly used as proxies for economic sophistication. The method yields synergistic interaction networks that provide further insights on the structure of industrial processes. For example, they reveal that industries from the tertiary sector tend to be disassortative sector-wise. To the extent of our knowledge, our findings are the first data-driven inference of technological sophistication within production processes (on an industrial scale). Thus, they provide the technological foundations of economic complexity and represent an important step toward its empirical microfoundations.
    Date: 2023–01
  9. By: Takeshi Kato
    Abstract: Given the wealth inequality worldwide, there is an urgent need to identify the mode of wealth exchange through which it arises. To address the research gap regarding models that combine equivalent exchange and redistribution, this study compares an equivalent market exchange with redistribution based on power centers and a nonequivalent exchange with mutual aid using the Polanyi, Graeber, and Karatani modes of exchange. Two new exchange models based on multi-agent interactions are reconstructed following an econophysics approach for evaluating the Gini index (inequality) and total exchange (economic flow). Exchange simulations indicate that the evaluation parameter of the total exchange divided by the Gini index can be expressed by the same saturated curvilinear approximate equation using the wealth transfer rate and time period of redistribution and the surplus contribution rate of the wealthy and the saving rate. However, considering the coercion of taxes and its associated costs and independence based on the morality of mutual aid, a nonequivalent exchange without return obligation is preferred. This is oriented toward Graeber's baseline communism and Karatani's mode of exchange D, with implications for alternatives to the capitalist economy.
    Date: 2022–12
  10. By: Jon D. Wisman; Nicholas Reksten
    Abstract: Nationalism is widely understood as a product of the nineteenth century, the doctrinal seeds for which were planted by the American Declaration of Independence and the French Revolution. It is an extension of tribalism to the nation and is understandable in terms of human evolution. It could be serviceable to first tribes and then nations as a means for acquiring social cohesion and domestic peace by convincingly identifying a foreign menace. But what explains the varying intensity of this strategy? This article claims that strengthening of nationalism’s expression has been substantially due to the threat to elites posed by the rise of powerful worker movements which gained increasing militancy during nineteenth century industrialization. Nationalism served to deflect attention from a system that workers found unjust to foreign forces as the cause of their malaise. In this expression, nationalism served as an ideology enabling the more powerful to assuage worker discontent and continue gaining at the expense of the weaker.
    Keywords: Group loyalty, ideology, worker militancy, patriotism
    JEL: B52 J5 N4
    Date: 2023
  11. By: Marc Germain (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: In response to the unsustainable nature of current brown growth, the concept of green growth, supposedly compatible with the environment, has been proposed. However, a literature has developed around the unfeasibility of green growth and this article aims to contribute to it on the basis of a reasoning combining (i) the concept of creative destruction; (ii) the distinction between environmental limits, physical limits in the (very) long term and technological limits in the short-medium term; (iii) the description of the possible consequences of the limits on the trajectory of the economy The combination of environmental and physical limits means that indefinite growth (even green growth) in a finite world is impossible. In the long term, the economy can at best tend towards a stationary state. In the medium term, because of an impact effect (due to pollution) and a crowding-out effect (which diverts labor and capital from the production of goods and services), technological limits are likely not only to slow down growth but also to bring the economy into decline (at least transitorily). If innovations (including environmental ones) continually allow technological limits to be pushed back (with diminishing returns due to physical limits), they ultimately exacerbate the contradictions between growth and environmental limits. Far from being the solution, innovations are also the source of the problems because they are at the heart of the creative destruction at the basis of growth. Given the technological limits and the urgency induced by the fact that a number of environmental limits have already been exceeded at the global level, it is problematic, to say the least, to aspire to a transition from the current brown growth to a green growth in the coming decades. To replace brown growth, the alternative is not between green growth and degrowth, but between undergone degrowth and voluntary degrowth.
    Abstract: En réponse au caractère insoutenable de la croissance brune actuelle a été proposé le concept de croissance verte, supposée compatible avec l'environnement. Une littérature s'est cependant développée autour de l'infaisabilité de la croissance verte et cet article a pour but d'y contribuer sur la base d'un raisonnement combinant (i) le concept de destruction créatrice ; (ii) la distinction entre limites environnementales, limites physiques à (très) long terme et limites technologiques à court-moyen terme ; (iii) la description des possibles conséquences des limites sur la trajectoire de l'économie. La combinaison des limites environnementales et physiques impose qu'une croissance (même verte) indéfinie dans un monde fini est impossible. A long terme, l'économie peut au mieux tendre vers un état stationnaire. A moyen terme, à cause d'un effet d'impact (dû aux pollutions) et d'un effet d'éviction (qui détourne le travail et le capital de la production de biens et services), les limites technologiques sont susceptibles non seulement de ralentir la croissance mais aussi d'amener l'économie en décroissance (au moins transitoirement). Si les innovations (y compris environnementales) permettent continuellement de repousser les limites technologiques (avec des rendements décroissants à cause des limites physiques), elles exacerbent au final les contradictions entre croissance et limites environnementales. Loin de seulement constituer la solution, les innovations sont aussi la source des problèmes parce qu'elles sont inscrites au coeur de la destruction créatrice à la base de la croissance. Etant donné les limites technologiques et l'urgence induite par le fait que nombre de limites environnementales sont déjà dépassées au niveau mondial, ambitionner dans les prochaines décennies une transition de l'actuelle croissance brune vers une croissance verte est pour le moins problématique. Pour remplacer la croissance brune, l'alternative n'est pas entre croissance verte et décroissance, mais entre décroissance subie et décroissance choisie.
    Keywords: croissance verte, destruction créatrice, progrès technique, recyclage, limites à la croissance.
    Date: 2022–12–26
  12. By: Soufyane Frimousse (LISA - Lieux, Identités, eSpaces, Activités - UPP - Université Pascal Paoli - CNRS - Centre National de la Recherche Scientifique); Hugo Gaillard (GAINS - ARGUMANS - Atelier De Recherche En Gestion De L'université Du Mans - GAINS - Groupe d'Analyse des Itinéraires et des Niveaux Salariaux - UM - Le Mans Université)
    Abstract: This work addresses the potential of work on anti-fragility (Taleb, 2012; 2013) to complement the concept of resilience at the individual and organizational levels. We propose a distinction between fragile, resilient and antifragile. These capacities are distinguished by the nature of the decisions taken in a crisis context, and the finality of these decisions on the psychological and professional state of individuals: antifragile is reinforced by chaos. The individual and organizational conditions for the emergence of these capacities are then discussed. Finally, we consider antifragility at the organizational, team and individual levels. We introduce the notion of antifragility and hypothesize that it contributes to antifragility as a capability. The work culminates in the proposal of a research program that addresses the positioning of this concept (i.e. the levels of its analysis), the exploration and finally the measurement tools to be developed.
    Abstract: Ce travail aborde le potentiel des travaux concernant l'antifragilité (Taleb, 2012 ; 2013) pour notamment compléter le concept de résilience à l'échelle individuelle et organisationnelle. Nous proposons une distinction entre le fragile, le résilient et l'antifragile. Ces capacités se distinguent par la nature des décisions prise en contexte de crise, et la finalité de ces décisions sur l'état psychologique et professionnel des individus : l'antifragile se renforce par le chaos. Sont ensuite discutées les conditions individuelles et organisationnelles de l'émergence de ces capacités. Nous considérons finalement l'antifragilité aux niveaux organisationnels, des équipes et individuel. Nous introduisons la notion de sentiment d'antifragilité, et posons l'hypothèse qu'elle contribue à l'antifragilité entendue comme capacité. Le travail abouti sur la proposition d'un programme de recherche qui aborde le positionnement de ce concept (i.e. les niveaux de son analyse), l'exploration et enfin les outils de mesure à développer
    Keywords: Crisis, Learning, Resilience, Complexity, Antifragility, Crise, Apprentissage, Résilience, Complexité, Antifragilité
    Date: 2021
  13. By: Mohammed B Salma (KSU - King Saud University [Riyadh])
    Abstract: The Arabian Peninsula witnessed a prosperous economic activity during antiquity, considering that economic exchange was the backbone of human life. This research aims to present an analytical study on the economic relations between the regions of the Arabian Peninsula in the light of the Marxist theory that supports the decisive role of the economic factor in history, especially since the regions of the Arabian Peninsula are rich in multiple products, which led to the diversity of aspects of economic activity "agricultural, animal and industrial". In turn, it was reflected in the internal economic relations between the regions of the Arabian Peninsula through the routes and cities of the trade caravans. The external interventions (Ptolemaic and Roman) negatively affected the internal relations between the south and north of the Arabian Peninsula.The economic aspect was the basis on which the relations between the south and north of the Arabian Peninsula were built, and the economic theory of Karl Marx was applied to it, as economic cooperation contributed to its development and growth, and also caused its transformation or end.
    Keywords: Economic, Arabian Peninsula, relations, Marxist theory, roads. JEL Classification Codes: A11 B14 D51 F43, roads. JEL Classification Codes: A11, B14, D51, F43
    Date: 2022–12–04
  14. By: Filewod, Ben; McCarney, Geoff
    Abstract: Leaky offsets are old news. As the world embraces nature-based solutions as a core strategy for critical near-term climate change mitigation, transactions of nature-based offsets in both compliance and voluntary markets reflect an underlying assumption that current approaches to managing leakage at the project level are working. We argue that this is not the case: leading third-party certification standards appear to vastly understate leakage compared to the research literature, and the tools available for project-level crediting cannot deliver the accuracy needed in practice. We propose an alternative, conservative, approach for avoiding leakage by design, based on understanding the ‘duality’ between additionality and leakage in a system at equilibrium. We then identify three principles that offset developers, certifiers, and consumers should implement at the project level now to improve the credibility of nature-based offset markets, while also allowing for increasing ambition and investment in nature-based solutions.
    JEL: J1 R14 J01
    Date: 2023–01–12
  15. By: Filewod, Ben; McCarney, Geoff
    Abstract: Leaky offsets are old news. As the world embraces nature-based solutions as a core strategy for critical near-term climate change mitigation, transactions of nature-based offsets in both compliance and voluntary markets reflect an underlying assumption that current approaches to managing leakage at the project level are working. We argue that this is not the case: leading third-party certification standards appear to vastly understate leakage compared to the research literature, and the tools available for project-level crediting cannot deliver the accuracy needed in practice. We propose an alternative, conservative, approach for avoiding leakage by design, based on understanding the ‘duality’ between additionality and leakage in a system at equilibrium. We then identify three principles that offset developers, certifiers, and consumers should implement at the project level now to improve the credibility of nature-based offset markets, while also allowing for increasing ambition and investment in nature-based solutions.
    JEL: J1 R14 J01
    Date: 2023–01–12
  16. By: Pierre Blavier (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This chapter addresses social class boundaries in Spain. It presents various peculiarities of the country, such as its strong regional heterogeneity and the specific historical trajectory that it has followed since the end of the Franco dictatorship in the 1970s. Socioeconomic changes over the past two decades, including the property bubble, rapidly increasing female participation in the labour market, and substantial waves of migration have made it difficult to draw a simple picture in terms of social class analysis. The 2008 economic crisis disrupted the trends that were then under way, and raised awareness of both intergenerational and labour market inequalities. This contribution therefore focuses on the relations between these various dimensions, and in particular on regional and generational inequalities, which play a structuring role when Spanish society is analysed through the lens of social class. Finally, the chapter suggests that, in a way, the electoral changes witnessed in Spain since 2008 can be partly understood as reflecting these changes in social class boundaries. To this end, the chapter draws on several available sources of empirical data, from both the national statistical office and international surveys.
    Date: 2022–11–01
  17. By: Egerer, Elsa
    Abstract: Ausgehend von den Krisen unserer Zeit und dem normativen Bekenntnis zu einer transformativen Ökonomik erläutert das Diskussionspapier die These: "Gestaltung braucht Kreativität". Die gegenwärtige dominante Praxis der Volkswirtschaftslehre wird dahingehend kritisiert, dass sie kreativ-gestaltende Elemente marginalisiert bzw. die Prognose wissenschaftskulturell höher wertschätzt als wirtschaftspolitische Gestaltungvorschläge. Vor diesem Hintergrund wird begründet, wieso volkswirtschaftliche Gestaltungsforschung neuer wissenschaftlicher Qualitätskriterien bedarf. Hierzu werden u. a. basierend auf der Literatur zu Design, Zukunftsforschung, Systemtheorie sowie zur Rhetorik der Ökonomik verschiedene Kriterien diskutiert. Zudem wird die Frage adressiert, wie Gestaltungsforschung konkret in Handlungslogiken umgesetzt werden kann. Im Ergebnis wird - ausgehend von den Erfahrungen im Kontext des Forschungsprojektes "Finanzwende für Resilienz und Nachhaltigkeit" - ein Werkstattbericht zu gestaltungsorientierter Forschung in der Praxis vorgestellt und die Herausforderungen diskutiert. Zur differenzierten Beurteilung der Güte von Gestaltungsvorschlägen wird die Unterscheidung zwischen "ziellogischer" und "status-quo-logischer Wirkmächtigkeit" vorgeschlagen.
    Keywords: Gestaltungsforschung, Zukunftsforschung, Transformative Forschung, Transformative Wirtschaftswissenschaft, Methodologie, Methode, Plurale Ökonomik
    JEL: B41 B52 C18
    Date: 2023
  18. By: Ariel Dvoskin (Central Bank of Argentina); Gabriel Brondino (Università Cattolica del Sacro Cuore, Piacenza)
    Abstract: A prevalent feature of the global economy is the relevance of trade in intermediates due to production fragmentation. This phenomenon has led to the revival and development of trade models that include inter-industry relations. A wide variety of Ricardian trade models cope with this feature. In this article, we develop a Sraffa-Leontief framework to compare and appraise these models. The models are distinguished by their underlying theory of distribution and the assumptions about the degree of international capital mobility. We compare the predicted effects on employment and the distribution of national income. Moreover, we assess if the model assures the existence of a complete trade pattern, i.e. if it can assure that all countries engage in trade (like the principle of comparative advantage predicts). It follows from our appraisal that it is not warranted that all countries can engage in international trade, even if they want to. In other words, if allowed to work, the “strong balancing forces†may not make a country internationally competitive when there is production fragmentation.
    Keywords: Ricardian trade models, comparative advantages, desertification
    JEL: B27 B51 F11
    Date: 2022–11
  19. By: Héloïse Berkowitz (LEST - Laboratoire d'économie et de sociologie du travail - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique, AMU - Aix Marseille Université); Hélène Delacour (UL - Université de Lorraine)
    Abstract: Recent international trends demonstrate multilevel efforts to ‘open' science across its whole ecosystem and lifecycle – from capturing research data through to publishing results. In social sciences, the publication process is already largely ‘open access' or transitioning toward it. However, opening research data raises specific issues and concerns for the field. Here, we set out to understand what open research data mean for social sciences, and if, why, and how data should be made open. We argue that while the ecosystem of actors, infrastructures, standards, and principles is starting to take structure in France and abroad, there are several barriers to the process of opening data in social sciences: (1) a misperception of the motivations for opening data (i.e., focusing on risks of exercising control over researchers and their academic freedom and overlooking motivations like data patrimonialization, pooling and potential synergies, trust-building, and broader engagement), (2) a system based on competition and the dominant process of ‘starification' in research, (3) a lack of resources and capabilities that might further exacerbate inequalities among genders, communities, institutions, and countries, and (4) the potential risks inherent to opening data and the specific constraints posed by social science data. Against this backdrop, we investigate several ways forward to operationalize not only FAIR (Findable, Accessible, Interoperable and Reusable) but also CARE (Collective benefit, Authority to control, Responsibility, Ethics) principles for open data in social sciences, before going on to present M@n@gement's new open data policy.
    Abstract: Les tendances internationales œuvrent pour l'ouverture de la science sur l'ensemble de son cycle de vie, c'est-à-dire depuis les données de la recherche jusqu'à la publication des résultats. En sciences sociales, si le processus de publication est déjà largement ouvert ou en voie de l'être, la situation est différente concernant l'ouverture des données de la recherche qui soulève de nombreuses questions. Afin de participer à ce débat, nous cherchons, danscet article, à expliquer ce que signifie l'ouverture des données de la recherche en sciences sociales, à comprendre ses motivations ainsi que les conditions de son opérationnalisation. En effet, alors que l'écosystème d'acteurs, d'infrastructures, de standards et de principes directeurs (FAIR et CARE) se structurent en France et à l'étranger, plusieurs éléments entravent actuellement le processus d'ouverture des données en sciences sociales : 1) une perception erronée des motivations pour l'ouverture des données, que sont la patrimonialisation, la mise en commun des données et les synergies potentielles, l'instauration d'un climat de confiance, un engagement plus large, plutôt que le simple exercice d'un contrôle sur la liberté académique et les équipes de recherche, 2) un système de concurrence et de starification de la recherche, 3) un manque de ressources qui pourrait davantage aggraver les inégalités entre les sexes, les communautés, les institutions et les pays, et 4) des risques potentiels liés à l'ouverture des données et les contraintes spécifiques des sciences sociales. Dans ce contexte, nous proposons des solutions pour rendre opérationnels l'ouverture des données en sciences sociales, au-delà du simple respect des principes FAIR et CARE, avant de présenter la nouvelle politique d'ouverture des données de la recherche de M@n@gement.
    Keywords: Open research data, Open science, FAIR principles, CARE principles, Social sciences
    Date: 2022–12–15
  20. By: Kemal Yildiz
    Abstract: Consider a population of agents whose choice behaviors are partially comparable according to given primitive orderings. A choice theory specifies the set of choice functions admissible in the population. A choice theory is self-progressive if any aggregate choice behavior consistent with the theory can uniquely be represented as a probability distribution over admissible choice functions that are comparable to each other. We establish an equivalence between self-progressive choice theories and (i) well-known algebraic structures called lattices; (ii) the maximizers of supermodular functions over choice functions. Keywords: Random choice, heterogeneity, identification, lattice, supermodular optimization, multiple behavioral characteristics.
    Date: 2022–12
  21. By: Anne de Bortoli; Maxime Agez
    Abstract: Industries struggle to build robust environmental transition plans as they lack the tools to quantify their ecological responsibility over their value chain. Companies mostly turn to sole greenhouse gas (GHG) emissions reporting or time-intensive Life Cycle Assessment (LCA), while Environmentally-Extended Input-Output (EEIO) analysis is more efficient on a wider scale. We illustrate EEIO analysis usefulness to sketch transition plans on the example of Canada s road industry - estimation of national environmental contributions, most important environmental issues, main potential transition levers of the sector, and metrics prioritization for green purchase plans). To do so, openIO-Canada, a new Canadian EEIO database, coupled with IMPACT World plus v1.30-1.48 characterization method, provides a multicriteria environmental diagnosis of Canada s economy. The road industry generates a limited impact (0.5-1.8 percent) but must reduce the environmental burden from material purchases - mainly concrete and asphalt products - through green purchase plans and eco-design and invest in new machinery powered with cleaner energies such as low-carbon electricity or bioenergies. EEIO analysis also captures impacts often neglected in process-based pavement LCAs - amortization of capital goods, staff consumptions, and services - and shows some substantial impacts advocating for enlarging system boundaries in standard LCA. Yet, pavement construction and maintenance only explain 5 percent of the life cycle carbon footprint of Canada s road network, against 95 percent for the roads usage. Thereby, a carbon-neutral pathway for the road industry must first focus on reducing vehicle consumption and wear through better design and maintenance of roads (...)
    Date: 2023–01
  22. By: Igor V. Evstigneev (University of Manchester - Economics, School of Social Sciences); Thorsten Hens (University of Zurich - Department of Banking and Finance; Norwegian School of Economics and Business Administration (NHH); Swiss Finance Institute); Mohammad Javad Vanaei (University of Manchester)
    Abstract: Evolutionary Finance (EF) explores financial markets as evolving biological systems. Investors pursuing diverse investment strategies compete for the market capital. Some "survive" and some "become extinct". A central goal is to identify evolutionary stable (in one sense or another) investment strategies. The problem is analyzed in a framework combining stochastic dynamics and evolutionary game theory. Most of the models currently considered in EF assume that asset payoffs are exogenous and depend only on the underlying stochastic process of states of the world. The present work develops a model where the payoffs are endogenous: they depend on the share of total market wealth invested in the asset.
    Date: 2022–12

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