The Ecosystem Services and Green Infrastructure: A Systematic Review and the Gap of Economic Valuation

This study was conducted to determine the trends at the intersection of studies made on green infrastructure and ecosystem services, which have frequently become preferred in establishing urban−green space relationships in global research. Green-related concepts have frequently been used from past to present in order to neutralise the increasing pressures on urban dynamics resulting from rapid urbanisation. Green corridor, green belt, green structure, and green finger/hand concepts have been used to provide recreational opportunities, protect nature, and keep urban sprawl under control. For the last decade, however, in addition to the traditional green concepts, green infrastructure (GI) and ecosystem services (ES) have been preferred in contemporary urban planning, as they enable the integration of the ecological concerns of the landscape and the socio-political perspective. The aim of this study is to detect the trends of the green infrastructure and ecosystem services association, and to reveal these trends in the common area with the bibliometric mapping method. The economic concept and its analysing use at the intersection of green infrastructure and ecosystem services were explored with VOSviewer using the Scopus® database. Furthermore, the number of documents, which initially began with around 39,719 studies, was reduced by filtering through systematic reviews, to only three documents that met the economic valuation criteria. In this way, a lack of economic analyses, creating a serious research gap within the framework of green infrastructure and ecosystem services, was quantitatively determined.

Pricing Vulnerable Options in a Mixed Fractional Brownian Motion with Jumps

A new framework for pricing European vulnerable options is developed in the case where the underlying stock price and firm value follow the mixed fractional Brownian motion with jumps, respectively. This research uses the actuarial approach to study the pricing problem of European vulnerable options. An analytic closed-form pricing formula for vulnerable options with jumps is obtained. For the purpose of understanding the pricing model, some properties of this pricing model are discussed in the paper. Finally, we compare and analyze the pricing results of different pricing models and discuss the influences of basic parameters on the pricing results of our proposed model by using numerical simulations, and the corresponding economic analyses about these influences are given.

Quantitative Flood Damage Evaluation Using Grid-Based Spatial Analysis Data

In Korea, flood damage occurs every year due to typhoons and heavy rains, resulting in increasing damage to human lives and properties in urban areas. To reduce the scale of flood damage, economic analyses of flood-control work are conducted as part of efficient disaster management in the context of a limited budget. In this study, a quantitative evaluation of flood damage in Ulsan due to Typhoon Chaba was conducted using multi-dimensional flood damage analysis (MD-FDA). However, the land cover map applied to MD-FDA has limited data resolution and update intervals. Examination of domestic and foreign research cases to complement these spatial analysis data showed that grid data were being used in disaster-related fields. This study evaluated whether grid data are suitable for quantitative assessment through economic analyses conducted using new spatial analysis data such as road name address digital maps and 100 × 100 m grid-based spatial analysis data. The results of this study confirm that center-point-method grid data constitute spatial analysis data suitable for economic analysis.