scholarly journals A HUMANISING ECONOMIC APPROACH ON COMPETITION POLICY OR HOW THE BEHAVIORAL ECONOMICS BLENDS WITH “TRADITIONAL ECONOMICS”

2015 ◽  
Author(s):  
Liviana Andreea Niminet
Keyword(s):  
Behavioral Economics ◽  
Competition Policy ◽  
Market Outcomes ◽  
Policy Makers ◽  
Demand And Supply ◽  
Successful Model ◽  
Advantages And Disadvantages ◽  
The United Kingdom ◽  
Information Framing ◽  
Time Inconsistent

Behavioral are crucial for understanding both the consumer’s attitude and firms’ attitude as well as for understanding the market outcomes. The past ten years brought a lot of attention from researchers and policy-makers on the behavioral economics issue. Classical, traditional economic models rely on the assumptions of rationality and ordered preferences. Behavioral economics explores interactions between demand and supply including information framing, the use of heuristics in decision-making and time-inconsistent preferences. The research on behavioral economics has led to an extensive debate about the relative merits of both traditional and behavioral economics. First of all we propose to highlight the advantages and disadvantages of behavioral economics versus traditional economics on a very sensitive issue: the competition policy. Then we address market issues that can be solved by means of behavioral economics afterwards turning out attention to the remedies of behavioral economics and ,last but not least, the United Kingdom successful model on the matter of competition policy.

Analysing Public Expenditure: (I) Planning, Control and Price

1981 ◽  
Vol 1 (3) ◽  
pp. 289-306 ◽  
Author(s):  
Harold Copeman
Keyword(s):  
Decision Making ◽  
United Kingdom ◽  
Public Expenditure ◽  
White Paper ◽  
Future Issue ◽  
Policy Makers ◽  
Policy Problem ◽  
Advantages And Disadvantages ◽  
The United Kingdom ◽  
Cash Basis

ABSTRACTThis paper analyses the different cost bases in which public expenditure can be analysed as a policy problem related to the differing requirements of planning, authorising and controlling the various components of public expenditure. The analysis is applied to the United Kingdom, where in 1981 changes were announced in the method of making public expenditure decisions which had evolved over the previous two decades. The various components of public expenditure in the United Kingdom are described, and the decision-making process which led to the March 1981 Public Expenditure White Paper is outlined. The significance of the different price bases used in public expenditure (cash (at current or at expected prices), volume, cost, and constant) is then explored. The advantages and disadvantages for policy-makers of attempting to reduce the number of price bases used are analysed; it is shown that there is no cost-free route to reducing complexity. The significance of government's decision in 1981 to make greater use of the cash basis in decision-making is assessed. The analysis is applied specifically to the United Kingdom, but the issues raised are of policy relevance to the choice of price bases for public expenditure decision-making in any country in a time of inflation.(A second paper in a future issue of the Journal will examine the political purposes behind gross or net measurement, the earmaking of receipts, and the more precise relationships between figures used in the planning of public expenditure, in macro-economic analysis and forecasting and in Parliamentary and local control.)

scholarly journals The Fragmentation of Global Governance Architectures: A Framework for Analysis

2009 ◽  
Vol 9 (4) ◽  
pp. 14-40 ◽  
Author(s):  
Frank Biermann ◽  
Philipp Pattberg ◽  
Harro van Asselt ◽  
Fariborz Zelli
Keyword(s):  
Global Governance ◽  
Empirical Studies ◽  
World Politics ◽  
Private Institutions ◽  
Public And Private ◽  
Policy Makers ◽  
Advantages And Disadvantages ◽  
Governance Challenges ◽  
Alternative Hypotheses ◽  
Governance Architecture

Most research on global governance has focused either on theoretical accounts of the overall phenomenon or on empirical studies of distinct institutions that serve to solve particular governance challenges. In this article we analyze instead “governance architectures,” defined as the overarching system of public and private institutions, principles, norms, regulations, decision-making procedures and organizations that are valid or active in a given issue area of world politics. We focus on one aspect that is turning into a major source of concern for scholars and policy-makers alike: the “fragmentation” of governance architectures in important policy domains. The article offers a typology of different degrees of fragmentation, which we describe as synergistic, cooperative, and conflictive fragmentation. We then systematically assess alternative hypotheses over the relative advantages and disadvantages of different degrees of fragmentation. We argue that moderate degrees of fragmentation may entail both significant costs and benefits, while higher degrees of fragmentation are likely to decrease the overall performance of a governance architecture. The article concludes with policy options on how high degrees of fragmentation could be reduced. Fragmentation is prevalent in particular in the current governance of climate change, which we have hence chosen as illustration for our discussion.

Hosting annual international sporting events and tourism: Formula 1, golf or tennis?

2021 ◽  
pp. 135481662110290
Author(s):  
Bala Ramasamy ◽  
Howei Wu ◽  
Matthew Yeung
Keyword(s):  
United Kingdom ◽  
Economic Impact ◽  
Sporting Events ◽  
Policy Makers ◽  
Monthly Data ◽  
Mega Events ◽  
Sports Events ◽  
The United Kingdom ◽  
Mega Sports Events

Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics is said to leave a legacy that could impact the attractiveness of a country/city in the long term. However, the opportunity to host these mega-events is limited and expensive. This study considers the economic impact of hosting annual international sporting events, specifically the extent to which Formula 1, ATP Tennis and PGA Golf can attract international tourists. Using monthly data from 1998 to 2018, we show that the effect differs from one sport to another within a country and the same sport across countries. Hosting the Formula 1 is most effective for Canada but has no significant impact in Australia and the United Kingdom. ATP Tennis and PGA Golf have a significant impact on at least two countries. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.

scholarly journals Wavelet Co-movement Significance Testing with Respect to Gaussian White Noise Background

2018 ◽  
Vol 16 ◽  
pp. 01002
Author(s):  
Jitka Poměnková ◽  
Eva Klejmová ◽  
Tobiáš Malach
Keyword(s):  
White Noise ◽  
Gaussian White Noise ◽  
Real Data ◽  
Significance Testing ◽  
Noise Background ◽  
Advantages And Disadvantages ◽  
The United Kingdom ◽  
Long Run ◽  
Short Run ◽  
White Noise Background

The paper deals with significance testing of time series co-movement measured via wavelet analysis, namely via the wavelet cross-spectra. This technique is very popular for its better time resolution compare to other techniques. Such approach put in evidence the existence of both long-run and short-run co-movement. In order to have better predictive power it is suitable to support and validate obtained results via some testing approach. We investigate the test of wavelet power cross-spectrum with respect to the Gaussian white noise background with the use of the Bessel function. Our experiment is performed on real data, i.e. seasonally adjusted quarterly data of gross domestic product of the United Kingdom, Korea and G7 countries. To validate the test results we perform Monte Carlo simulation. We describe the advantages and disadvantages of both approaches and formulate recommendations for its using.

Skill mismatch comparing educational requirements vs attainments by occupation

2018 ◽  
Vol 39 (8) ◽  
pp. 996-1009 ◽  
Author(s):  
Kea Tijdens ◽  
Miroslav Beblavý ◽  
Anna Thum-Thysen
Keyword(s):  
High Demand ◽  
Skill Levels ◽  
Employment Services ◽  
Policy Makers ◽  
Demand And Supply ◽  
Skill Mismatch ◽  
Content Type ◽  
Educational Requirements ◽  
Occupational Skill ◽  
Practical Implications

Purpose The purpose of this paper is to overcome the problems that skill mismatch cannot be measured directly and that demand side data are lacking. It relates demand and supply side characteristics by aggregating data from jobs ads and jobholders into occupations. For these occupations skill mismatch is investigated by focussing on demand and supply ratios, attained vis-à-vis required skills and vacancies’ skill requirements in relation to the demand-supply ratios. Design/methodology/approach Vacancy data from the EURES job portal and jobholder data from WageIndicator web-survey were aggregated by ISCO 4-digit occupations and merged in a database with 279 occupations for Czech Republic, being the only European country with disaggregated occupational data, coded educational data, and sufficient numbers of observations. Findings One fourth of occupations are in excessive demand and one third in excessive supply. The workforce is overeducated compared to the vacancies’ requirements. A high demand correlates with lower educational requirements. At lower occupational skill levels requirements are more condensed, but attainments less so. At higher skill levels, requirements are less condensed, but attainments more so. Educational requirements are lower for high demand occupations. Research limitations/implications Using educational levels is a limited proxy for multidimensional skills. Higher educated jobholders are overrepresented. Practical implications In Europe labour market mismatches worry policy makers and Public Employment Services alike. Originality/value The authors study is the first for Europe to explore such a granulated approach of skill mismatch.

scholarly journals An overview of behavioral economics in Dutch policy making. the next step: how to nudge policy makers

2016 ◽  
Vol 10 (2-3) ◽  
pp. 27-31 ◽  
Author(s):  
Natasha Els Stroeker
Keyword(s):  
Behavioral Economics ◽  
Policy Making ◽  
Behavioral Science ◽  
Dutch Government ◽  
Science Knowledge ◽  
Policy Makers ◽  
Structural Integration ◽  
Dutch Policy ◽  
The Government ◽  
The Uk

This article describes the beginning of the influence of behavioral economics on the Dutch government. This started in the period that the UK started with its Behavioral Insights Team (BIT UK). The article presents explanation of the concept “nudging” and the way this is integrated in Dutch policy. Also leading publications and examples of how behavioral economics is used in policy making are presented. The advice of the government in 2014 on how to ensure a structural integration of behavioral science knowledge in policy is part of the next step. The next step contains two main parts: 1. How to nudge policy makers and 2. Embedding nudges in policy making on four aspects: positioning, projects, performance and professionality.

scholarly journals Do Terrorists Win? Rebels' Use of Terrorism and Civil War Outcomes

2015 ◽  
Vol 69 (3) ◽  
pp. 519-556 ◽  
Author(s):  
Virginia Page Fortna
Keyword(s):  
Civil War ◽  
Civil Wars ◽  
Policy Makers ◽  
Advantages And Disadvantages ◽  
Rebel Groups ◽  
War Outcomes ◽  
Better Than

AbstractHow effective is terrorism? This question has generated lively scholarly debate and is of obvious importance to policy-makers. However, most existing studies of terrorism are not well equipped to answer this question because they lack an appropriate comparison. This article compares the outcomes of civil wars to assess whether rebel groups that use terrorism fare better than those who eschew this tactic. I evaluate the advantages and disadvantages of terrorism relative to other tactics used in civil war. Because terrorism is not a tactic employed at random, I first briefly explore empirically which groups use terrorism. Controlling for factors that may affect both the use of terrorism and war outcomes, I find that although civil wars involving terrorism last longer than other wars, terrorist rebel groups are generally less likely to achieve their larger political objectives than are nonterrorist groups. Terrorism may be less ineffective against democracies, but even in this context, terrorists do not win.

The Mechanism of Shifting From Direct Monetary Policies to Indirect Monetary Policies

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Saad Khalaf ◽  
Abdul Rahman Abdul Ridha ◽  
Hussein Habeeb
Keyword(s):  
Interest Rate ◽  
Main Tool ◽  
The United States ◽  
The European Union ◽  
Monetary Policies ◽  
Policy Makers ◽  
The United Kingdom ◽  
The World ◽  
New Policies ◽  
The Interest Rate

After 2008, a new term appeared on monetary policies after the direct monetary policies failed to reach a solution to the economic deficit that occurred in the economies of many countries, especially after the mortgage crisis that plagued the financial markets in most countries of the world, as these countries tried to reduce the interest rate to Zero or close to it in order to move the economy, but it did not respond despite the fact that the interest rate is the main tool and is considered the control stick in direct monetary policies.  Thus, it became imperative for those countries to use new tools in order to get out of that crisis. Japan is considered the first to use these new policies and solutions before that period, and he is the first to call them indirect monetary policies. These tools were called by many names, including quantitative easing, credit facilitation and others. Many names, but it was the best solution by monetary policy makers for many countries, including the United States of America, the United Kingdom of Britain and the European Union, which represent the most powerful economies in the world,

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