Investigating the Difficulties in Assessing Aesthetic Pollution through Experimental Economics

This present work deals with the research of some difficulties that we encounter in the evaluation processing of aesthetic pollution.Experimental economics techniques,such as answering a questionnaire(including quantitative indicators in the form of Willingness to Pay/Accept),have been incorporated into the FTS/A(Fault Tree Synthesis/Analysis)methodology.Such a methodological application is presented in the present document with reference to the archaeological site of Eleusis,where the visual&aesthetic pollution is apparent due to the heavy anthropogenic impact that takes place in the major area.It has been proved that EAP(Extended Aesthetic Pleasure),used as an indicator of“visual exterior”,can contribute to the conceptual determination of the optimal value in the intensification effort and the resources expended(Iopt)to achieve a particular aesthetic result.According to this analysis,Iopt decreases in the short run(due to lack of dissemination of information,mainly to the public)and increases in the long run,due to the accumulation/transfer/dissemination of knowledge.The methodology presented herein has been successfully applied in the case of the archaeological site of Eleusis,where the corresponding extensive aesthetic enjoyment of EAP is reduced by the ongoing intensified industrial activities.

The role of time preferences in contract breach:Evidence from Chinese poultry farmers participating in contract farming

Farmers’contract breach behavior is cited as one of the major stumbling blocks in the sustainable expansion of contract farming in many developing countries.This paper examines farmers’contract breach decisions from the perspective of time preferences.The empirical analysis is based on a household survey and economic field experiments of poultry households participating in contract farming conducted in Jiangsu Province,China.A discounted utility model and a maximum likelihood technique are applied to estimate farmers’time preferences and the effect of time preferences on contract breach in the production and sales phases are explored with a bivariate probit model.The results show that,on average,the poultry farmers in the sample are generally present biased and impatient regarding future utility.The regression results show that farmers with a higher preference for the present and a higher discount rate are more likely to breach contracts,and time preferences play a greater role in the production phase than in the sales phase.When considering heterogeneity,specific investments and transaction costs promote contract stability only for farmers with a low degree of impatience.Moreover,compared with large-scale farmers,small-scale farmers’contract breach decisions are more significantly affected by their time preferences.These results have implications for contract stability policies and other issues that are impacted by the linking of behavioral preferences to agricultural decisions.

Economic Analysis of the Internalization the Externalities in Environmental Goods

The environment is characterized as a public good. Public goods are goods that provide benefits for society as a whole or part of it, usually regardless of whether the individual people are willing to pay to have these benefits. This proposed project is not viable in profitable terms to private enterprise, so it applied a modified version of the CVM （Contingent Valuation Method） to realize this project. The purpose of the paper is to present a modified model of an internalizing external costs caused by the operation of a manufacturing unit in conjunction with the new reality created. Using the CBA （Cost-Benefit Analysis）, all critical parameters problem attributed to a single base assessment, which facilitates decision making process. The basis of evaluation is to compare benefits and costs. It is used the CVM in case study and the results show that there is less sensitivity for restoration of the cultural heritage monuments in comparison with the sensitivity for restoration of the natural and urban environment in general.

The Modified Contingent Valuation Method for Evaluating the Willingness of the Citizenry to Participate in Excavation and the Restoration of the Ancient Theatre of Lefkada

This proposed project is not viable in profitable terms to private enterprise, so it applied a modified version of the CVM （Contingent Valuation Method） to realize this project. A survey was conducted in Lefkada Island in Greece, where 200 interviewees took part in order to consider whether they wish to voluntarily participate in the excavation and restoration of the ancient theater of Lefkada. Half of the interviewees were given information on the history of the site and then were asked to fill out a questionnaire. The other half of the interviewees were given no historical information on the archeological site and also were asked to fill out a questionnaire. The interviewees who were not given any information on the history of the site briefed on the history and then were asked to fill out another questionnaire. The purpose was to observe the different responses that the interviewees gave before and after being informed. This study aims to compare the WTP （Willingness To Participate） for this public good among those who were informed and those who were not.

Externalities as Compensatory Criteria of Compulsory Expropriation Actions

Ownership/private property and property inheritance are concepts well-established and constitutionally protected in our modern societies.Nevertheless,numerous provisions in the national legal framework enable the states to expropriate individual private goods under certain severe circumstances through compensation prerequisites.The present manuscript presents a short comparative study of the constitutional articles of many countries,regarding expropriation actions,examines the compensation techniques employed,and interrelates expropriation implementation with economic analysis methods and experimental economics.Furthermore,this paper states that the current Greek expropriate methods consist of an economic disturbance and externality in economic terms.

Canonical Workflow for Experimental Research

The overall expectation of introducing Canonical Workflow for Experimental Research and FAIR digital objects(FDOs)can be summarised as reducing the gap between workflow technology and research practices to make experimental work more efficient and improve FAIRness without adding administrative load on the researchers.In this document,we will describe,with the help of an example,how CWFR could work in detail and improve research procedures.We have chosen the example of"experiments with human subjects"which stretches from planning an experiment to storing the collected data in a repository.While we focus on experiments with human subjects,we are convinced that CWFR can be applied to many other data generation processes based on experiments.The main challenge is to identify repeating patterns in existing research practices that can be abstracted to create CWFR.In this document,we will include detailed examples from different disciplines to demonstrate that CWFR can be implemented without violating specific disciplinary or methodological requirements.We do not claim to be comprehensive in all aspects,since these examples are meant to prove the concept of CWFR.

Multi-agents modelling of EV purchase willingness based on questionnaires

Traditional experimental economics methods often consume enormous resources of qualified human participants,and the inconsistence of a participant’s decisions among repeated trials prevents investigation from sensitivity analyses.The problem can be solved if computer agents are capable of generating similar behaviors as the given participants in experiments.An experimental economics based analysis method is presented to extract deep information from questionnaire data and emulate any number of participants.Taking the customers’willingness to purchase electric vehicles(EVs)as an example,multi-layer correlation information is extracted from a limited number of questionnaires.Multiagents mimicking the inquired potential customers are modelled through matching the probabilistic distributions of their willingness embedded in the questionnaires.The authenticity of both the model and the algorithmis validated by comparing the agent-based Monte Carlo simulation results with the questionnaire-based deduction results.With the aid of agent models,the effects of minority agents with specific preferences on the results are also discussed.

MARSHALLIAN DEVIATION:NEW OBSERVABLE CRITERION TO MEASURE TRANSACTION PATHS IN DOUBLE AUCTION MARKETS

In measuring the trade process in a double auction (DA) market, there is not any observable criterion that is able to describe the matching pairs and their transaction order dynamically. In this paper, we propose a new observable criterion called Marshallian deviation. It can be used to measure the distance of a transaction path deviating from the Marshallian path mathematically, and to answer the question why buyers with high values will trade with sellers with low costs in advance in some types of DA but not in others. Furthermore, three factors influencing the Marshallian deviations both in the CDA and in the PDA are also studied. They are respectively the strategic algorithm, the transaction duration and the number of traders. A few interesting findings are presented.

The Oil Embargo Following the Arab-Israel War of October 1973:British Economic Experience and Reaction

This paper analyzes the British economic experience and reaction towards the Arab oil embargo following the October War of 1973. Even though Britain was excluded from the list of embargoed nations, the impact of the embargo for the British economy, especially the fear of insufficient energy in the industrial sector, was real. Consequently, Britain had to implement an effective plan to face the oil crisis. She revised her diplomatic strategy and even considered launching military action to protect her interests in the Arab world. The research is based upon archival documents from The National Archives of England and Wales.