Search results for "value"
showing 10 items of 5321 documents
Intertemporal Substitution in the Spanish Economy: Evidence from Regional Data*
2018
This paper studies the intertemporal substitution in consumption and leisure for the Spanish economy by estimating the first‐order conditions of an individual optimization model with regional and aggregate data. While first‐order conditions determining intertemporal substitution in consumption show a good econometric fit, and the value we obtain for the intertemporal elasticity of substitution is similar to previously available results, the econometric fit of the intertemporal condition in leisure indicates that the behaviour of the Spanish labour supply over the cycle is more complex than can be explained by the canonical intertemporal choice model.
Piero Sraffa on utility and the 'subjective method' in the 1920s: A tentative appraisal of Sraffa's unpublished manuscripts
2001
The paper reconstructs Sraffa's assessment of utility-based and individualistic explanations of demand in Marshallian economics in the light of some fresh evidence provided by Sraffa's unpublished manuscripts of the 1920s. It is shown that Sraffa criticised the standard Marshallian explanation of individual consumption choices, emphasised the independent measurement requirement in explanation, lacked enthusiasm for the heuristic potentialities of the 'subjective method' in economic theorising and strove for an analysis of the phenomena of interdependence in the sphere of production as well as in the sphere of consumption.
Frank H. Knight on social values in economic consumption: an archival note
2020
We reproduce an unpublished address on “Social Values in Economic Consumption” which Knight prepared for a SSRC Conference in June 1931. This material sheds new light on Knight in two respects. First, anticipating what is known as the relative income hypothesis, Knight indicated that a general increase in income, not only leaves the individual’s relative position in society unaltered but makes her/his situation worse off due to the peculiar characteristics of the market for “personal services.” Second, this address provides further evidence of how, in spite of some substantial methodological differences, Knight’s research interests converged with those of the institutionalists.
Frank H. Knight on Social Values in Economic Consumption. An Archival Note
2020
This note reproduces an unpublished paper on "Social Values in Economic Consumption" which Knight prepared for the Social Science Research Council (SSRC) Summer Conference, on Nantucket, Massachusetts in June 1931. This paper sheds new light on Knight in two important respects. First, it presents, in a more systematic fashion, Knight’s criticism of what he perceived to be the then standard theory of consumption. Specifically, Knight argued that an individual's consumption is dictated more by his income in relation to others than by mere utility maximization — a notion now commonly known as relative income hypothesis. In this connection, Knight also pointed out that a general increase in inc…
FACTORS THAT MOTIVATE LATVIAN CONSUMERS TO PURCHASE PRODUCTS AND SERVICES FROM SOCIAL ENTERPRISES IN LATVIA: THE CASE OF SOCIALLY RESPONSIBLE CONSUMP…
2019
The purpose of the study is to -determine the relative importance of various factors that motivate Latvian consumers to purchase products and services from social enterprises in order to provide practical suggestions and recommendations for Latvian social enterprises that would allow them to improve their performance. The primary method used by the study is quantitative research by the means of an online survey of Latvian consumers of social enterprise products /services. The results of the research indicate that Latvian consumers find the product / service quality aspects, as well as aspects of social responsibility and convenience of the shopping location, on average, as most motivating t…
Perceived-Value-driven Optimization of Energy Consumption in Smart Homes
2020
Residential energy consumption has been rising rapidly during the last few decades. Several research efforts have been made to reduce residential energy consumption, including demand response and smart residential environments. However, recent research has shown that these approaches may actually cause an increase in the overall consumption, due to the complex psychological processes that occur when human users interact with these energy management systems. In this article, using an interdisciplinary approach, we introduce a perceived-value driven framework for energy management in smart residential environments that considers how users perceive values of different appliances and how the us…
The implementation of global ranking rules within countries in transition and their unintended perverted effects
2013
PurposeThe aim of this paper is to focus on the adverse consequences, mainly the “naturalisation” of global indicators and principles that may lead to defective national rules that may harm the local academic system, and the manipulations that might be drown up among the academic staff and public.Design/methodology/approachThe theoretical issues are illustrated by the outcomes in Romania particularly as a consequence of the application of the Educational Law since January 2011.FindingsWhen the global ranking's rules are implemented into national environments, mainly in countries under transition, some perverted effects appear and accompany the fruitful results.Originality/valueThe passage f…
Kontribusi satwa dalam menunjang ketahanan pangan masyarakat Distrik Tembuni Kabupaten Teluk Bintuni
2018
The biodiversity of wild animals in the Tembuni District has the potential of fulfilling nutrition and the economy for the community, but the condition of the area which is still constrained by limited access and still using traditional hunting techniques which influences the level of public consumption of wild animal. This condition has an influence on the pattern of consumption and food security, most of the people of the world. This study aims to identify the description of the region, the characteristics of the population and the potential of hunted animals used by the 4 villages in Tembuni District, namely Bangun Mulya, Mogoi Baru, Tembuni and Araisum villages, so that it can be seen …
III: „Relatives Risiko” und „NNT” - anschauliche Maße für binäre Daten
2002
Description of categorial data can often be based on contingency tables. However, percentages appearing in such tables must be meaningful: For most applications, it may be useful to employ factors of causal influence as the row entry variable and relate percentages to sub-groups defined by these row entries ("row percentages"). The comparison of success frequencies (i. e. binary information on "therapy success yes/no") may be based on two therapies, respective success frequencies and their ratio, the relative risk. In addition the success frequencies' difference, the absolute (or excess) risk, can be transformed into the "number needed to treat" (NNT). Many international journals demand thi…
The social benefits of restoring water quality in the context of the Water Framework Directive: A comparison of willingness to pay and willingness to…
2009
The Water Framework Directive (WFD) is by far the most important piece of water legislation in Europe for the coming decades. Its main aim is to achieve "good ecological status" for all water resources by 2015. The economic valuation of the non-market benefits derived from improving water quality is an important input in assisting the design and implementation of efficient and effective water management policies. In this study, the contingent valuation method has been applied with a double purpose. On the one hand, we have estimated the value of a hypothetical improvement in water quality of a river asking individuals about their willingness to pay, and on the other hand, the issue of exemp…