经济学最新文献

{"title":"(Mis)information diffusion and the financial market","authors":"Tommaso Di Francesco ,&nbsp;Daniel Torren-Peraire","doi":"10.1016/j.jebo.2025.107211","DOIUrl":"10.1016/j.jebo.2025.107211","url":null,"abstract":"<div><div>This paper investigates the interplay between information diffusion in social networks and its impact on financial markets with an Agent-Based Model (ABM). Agents receive and exchange information about an observable stochastic component of the dividend process of a risky asset à la Grossman and Stiglitz (1980). A small proportion of the network has access to a private signal about the component, which can be clean (information) or distorted (misinformation). Other agents are uninformed and can receive information only from their peers. All agents are Bayesian, adjusting their beliefs according to the confidence they have in the source of information. We examine, by means of simulations, how information diffuses in the network and provide a framework to account for delayed absorption of shocks, that are not immediately priced as predicted by classical financial models. We investigate the effect of the network topology on the resulting asset price and evaluate under which condition misinformation diffusion can make the market more inefficient.</div></div>","PeriodicalId":48409,"journal":{"name":"Journal of Economic Behavior & Organization","volume":"238 ","pages":"Article 107211"},"PeriodicalIF":2.3,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Measuring the causal effect of urban environments on crime with street view images and points of interest","authors":"Zhanjun He ,&nbsp;Wantong Meng ,&nbsp;Jing Yao ,&nbsp;Yuejian Gong ,&nbsp;Liang Wu ,&nbsp;Liufeng Tao","doi":"10.1016/j.cities.2025.106399","DOIUrl":"10.1016/j.cities.2025.106399","url":null,"abstract":"<div><div>Measuring the complex influence of urban built environment on crime is a focal point in environmental criminology. Current studies have mainly focused on the correlations between urban built environment and crime. Using two new forms of urban big data, the street view images and points of interest, this research examines the causal relationship between urban built environment and crime with structural causal models. A case study is implemented for Manhattan, New York City. The empirical results suggest that street perception characteristics do not directly affect crime but rather impose an indirect influence through urban facilities. Furthermore, the impact of street perception characteristics on crime varies depending on the type of urban facilities involved. The findings of this research provide valuable insights into the role of urban built environment in shaping crime patterns, thus contributing to evidence-based strategies for crime prevention.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"168 ","pages":"Article 106399"},"PeriodicalIF":6.6,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What My Parents Did for Me: Parental Financial Sacrifice, Money Scripts, and Financial Behaviors Among Hong Kong Youths in Low-SES Households","authors":"Xiaomin Li,&nbsp;Ashley Kuelz,&nbsp;Muhammad Aamir Khan,&nbsp;Ashley B. LeBaron-Black","doi":"10.1111/joca.70026","DOIUrl":"https://doi.org/10.1111/joca.70026","url":null,"abstract":"<div>\u0000 \u0000 <p>Drawing on the family financial socialization model, this study examines parental financial sacrifice—parents prioritize their children's future over their own financial needs—and its associations with youths' financial behaviors. We investigated three types of financial behaviors: (1) short-term management (e.g., saving and spending), (2) long-term management (e.g., investing), and (3) financial enabling (e.g., over-giving or oversharing). Additionally, we explored the mediating role of money scripts—emotionally charged beliefs about money—and their organization into distinct profiles. Based on cross-sectional data from 1000 Hong Kong youths in low-SES households, we found that higher-level parental financial sacrifice was associated with healthier short- and long-term money management but lower-level financial enabling. These associations were mediated by money script profiles—the diverse combinations of money-related beliefs. These results underscore the distinctive financial socialization experiences of youths in low-SES households while highlighting the value of understanding money script profiles to mitigate their challenges.</p>\u0000 </div>","PeriodicalId":47976,"journal":{"name":"Journal of Consumer Affairs","volume":"59 3","pages":""},"PeriodicalIF":3.2,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144905583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Post-disaster permanent housing and life satisfaction in Van, Turkey: Impacts of housing satisfaction, socioeconomic and demographic factors","authors":"Aysu Uğurlar ,&nbsp;Leyla Alkan Gökler ,&nbsp;Gaye Zeynep Çenesiz","doi":"10.1016/j.cities.2025.106401","DOIUrl":"10.1016/j.cities.2025.106401","url":null,"abstract":"<div><div>This study investigates the factors influencing life satisfaction among residents of post-disaster permanent housing in Van, Turkey, following the 2011 earthquake. Data were collected through a survey of 382 households across five districts, examining socioeconomic factors, housing satisfaction, and their impact on overall life satisfaction. Multiple regression analysis revealed that income, satisfactions from housing attributes, neighborhood characteristics and social activities, and demographic factors significantly influence residents' life satisfaction. Households facing fewer difficulties meeting housing expenditures reported higher levels of life satisfaction. The study highlights that both objective housing attributes, such as housing quality, and subjective perceptions, such as neighborhood satisfaction and sense of community, significantly influence residents' overall life satisfaction. These findings, consistent with existing research, underscore the importance of addressing socioeconomic disparities and improving housing quality to enhance residents' well-being. The study emphasizes the need to incorporate residents' needs and preferences into post-disaster permanent housing policies to promote successful resettlement and ensure the long-term well-being of disaster-affected communities.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"168 ","pages":"Article 106401"},"PeriodicalIF":6.6,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Evaluating the impact of digital technologies on energy efficiency: Evidence from Chinese publicly listed companies","authors":"Rong Guan ,&nbsp;Huijuan Wang ,&nbsp;Ruotong Zheng ,&nbsp;Xunpeng Shi ,&nbsp;Ke Wang","doi":"10.1016/j.enpol.2025.114847","DOIUrl":"10.1016/j.enpol.2025.114847","url":null,"abstract":"<div><div>This study aims to evaluate the impact of digital technology adoption on energy efficiency in China's publicly listed industrial firms. It employs text mining techniques and a difference-in-differences model to conduct the evaluation. The empirical analysis quantifies a 52.69 % reduction in energy intensity for firms adopting digital technologies. The short-term effect of adopting digital technologies is the most obvious, but the effect gradually diminishes over time due to the lack of core technologies and the energy rebound effect. Energy efficiency improvements are driven by reductions in energy consumption and increases in total factor productivity. There are significant regional differences in the adoption of digital technologies, with firms in Eastern China benefiting more, mainly due to higher levels of productivity and resource optimization. Spatial analysis further shows firms in low-energy-intensity provinces benefit from digital adoption, while those in high-energy-intensity provinces have no significant effects despite spatial spillovers. These results underscore the importance of fostering synergies between digital technology adoption and carbon reduction, advancing energy-saving technologies, and tailoring policies to regional contexts to maximize benefits. Additionally, balancing environmental regulations with market mechanisms and providing incentives for technological innovation are critical for promoting widespread adoption of digital technologies to enhance energy efficiency.</div></div>","PeriodicalId":11672,"journal":{"name":"Energy Policy","volume":"207 ","pages":"Article 114847"},"PeriodicalIF":9.2,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903798","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Abnormally low bids in PPPs: Analysis of evidence and a proposed statistical test","authors":"Sergio Hinojosa ,&nbsp;Roberto Muñoz ,&nbsp;Giancarlos Oviedo","doi":"10.1016/j.jup.2025.102021","DOIUrl":"10.1016/j.jup.2025.102021","url":null,"abstract":"<div><div>This study examines the presence of abnormally low bids in public-private partnership (PPP) project tenders across Latin America. To this end, a representative database of PPP processes in Latin America was developed. Surprisingly, the findings indicate a notable absence of abnormally low bids. This result stands in stark contrast to recent studies. The analysis of 122 PPP projects spanning diverse countries and sectors provides a foundation for constructing a statistical test to identify abnormally low bids.</div></div>","PeriodicalId":23554,"journal":{"name":"Utilities Policy","volume":"96 ","pages":"Article 102021"},"PeriodicalIF":4.4,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144903863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Blockchain's role in social welfare, financial inclusion, and public sector innovations in India: A multi-sector analysis of government-led initiatives","authors":"Jaskirat Singh ,&nbsp;Gurdip Singh Batra ,&nbsp;Sarvjeet Kaur Chatrath","doi":"10.1016/j.cities.2025.106366","DOIUrl":"10.1016/j.cities.2025.106366","url":null,"abstract":"<div><div>This study investigates the integrated impact of blockchain technology in enhancing transparency, mitigating corruption, fostering trust, and promoting financial inclusion within India's public sector, focusing on social welfare programs and related services for economically weaker sections (EWS) in urban slums. Using a mixed-methods approach combining surveys (n = 700) and qualitative insights from beneficiaries and public sector experts (n = 30) in Punjab, the research assesses government-led blockchain initiatives like the Vishvasya-Blockchain Technology Stack and NBFLite. Findings reveal significant positive associations between blockchain implementation and improvements in transparency (β = 0.74), trust (β = 0.76), financial inclusion (β = 0.68), and perceived corruption reduction (β = −0.63). Qualitative data contextualizes these findings, highlighting user experiences and critical adoption barriers, particularly digital literacy. The study contributes a novel, synthesized perspective on blockchain's potential to drive synergistic improvements across interconnected public service domains (welfare, financial inclusion, potentially others like health/education), offering a holistic view crucial for urban policy and planning. Results provide actionable recommendations for policymakers regarding scaling adoption, addressing implementation challenges, investing in digital literacy, and establishing robust governance frameworks to leverage blockchain as a tool for inclusive socio-economic development in rapidly digitalizing urban environments.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"167 ","pages":"Article 106366"},"PeriodicalIF":6.6,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144902258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Encampments as neighbors: Encampment location and proximity to amenities among Seattle, WA’s unhoused population","authors":"Aja Sutton ,&nbsp;Whitney Walker ,&nbsp;Amy Hagopian ,&nbsp;Zack W. Almquist","doi":"10.1016/j.cities.2025.106348","DOIUrl":"10.1016/j.cities.2025.106348","url":null,"abstract":"<div><div>In the United States, no jurisdiction guarantees the basic conditions necessary for health, such as stable housing, even as homelessness continues to intensify. King County, Washington, the twelfth largest U.S. county, hosts the fourth largest population of people experiencing homelessness, many of whom reside in Seattle. Discouraging encampments and providing shelter beds has proven ineffective. We investigate how encampments’ proximity to basic amenities compares to those in emergency shelters and rental units. We analyze rich spatial, administrative, and outreach worker data from Seattle’s Evergreen Treatment Services (ETS) REACH on individuals living in tents and on the street from 2016 to 2022. We discuss the implications of providing effective support for people living unhoused and provide, to our knowledge, the most comprehensive and recent study of neighborhood amenities proximity among the unsheltered population in Seattle, WA. We find that, in most neighborhoods, encampment locations were similarly located in proximity to a range of amenities as were rental units. Additionally, encampments were located closer than shelters to certain amenities, especially food-related ones, excluding food banks, suggesting that they may offer opportunities for meeting basic needs, and accessing WiFi. We conclude that housing options that feel like homes rather than institutions are crucial in supporting the unhoused population. Our findings suggest that emergency shelters should be more integrated into neighborhoods and better reflect the proximity to amenities of tent encampments and rentals.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"168 ","pages":"Article 106348"},"PeriodicalIF":6.6,"publicationDate":"2025-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144902816","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Energy policy-making in the European Union between past and present","authors":"Samuele Lo Piano ,&nbsp;Andrea Saltelli","doi":"10.1016/j.erss.2025.104296","DOIUrl":"10.1016/j.erss.2025.104296","url":null,"abstract":"<div><div>We use instruments from sociology of quantification to investigate a persistent paradox: the problematic technical quality of modelling studies when these are aimed at policy analysis. We review new and old instances of this paradox, focusing specifically on two energy assessment studies: one performed in the eighties and one recent. We apply sensitivity auditing, an existing checklist for the quality of quantification at the science-policy interface, which appraises the overall model framing process and application. The old energy assessment case is a study that was the subject of a pointed criticism by sociologist of science and technology Brian Wynne in a paper published in 1984. The recent impact analysis is from the European Commission, aimed to inform the selection of greenhouse-gases emission targets for 2040 in the European Union. The similarities in the shortcomings identified by Wynne and those we see in the European Commission one using sensitivity auditing seem to indicate that the lesson from that controversy was not learned, or that at a more fundamental level the purpose of these relevant institutional analyses is not to trace a path to a sustainable energy future but to reassure and confirm present policy agendas and visions, along the lines of a policy-based evidence strategy well known to sociologists of quantification. We investigate how modelling plays a key role in facilitating these analytic distortions, and conclude with some suggestions for progress, anchored to the double nature—technical and normative—of quantification and on the need for more analytic lenses to be systematically deployed when reading a policy assessment that builds on models.</div></div>","PeriodicalId":48384,"journal":{"name":"Energy Research & Social Science","volume":"127 ","pages":"Article 104296"},"PeriodicalIF":7.4,"publicationDate":"2025-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144895897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Proximity-centred accessibility – A conceptual debate involving planning practitioners worldwide","authors":"Cecília Silva ,&nbsp;Benjamin Büttner ,&nbsp;Sebastian Seisenberger ,&nbsp;João Filipe Teixeira ,&nbsp;María Teresa Baquero-Larriva ,&nbsp;Eda Beyazit ,&nbsp;Maxime Hachette ,&nbsp;Diego Hernandez ,&nbsp;Wambui Kariuki ,&nbsp;Patxi J. Lamíquiz-Daudén ,&nbsp;Jonathan Levine ,&nbsp;Alain L'Hostis ,&nbsp;Chunjiang Li ,&nbsp;Karel Martens ,&nbsp;Juan Carlos Martin ,&nbsp;Lucila Martinazzo ,&nbsp;Beatriz Mella-Lira ,&nbsp;Louis A. Merlin ,&nbsp;Dylan Moinse ,&nbsp;Fabio Palacio ,&nbsp;Dionysis Visvardis","doi":"10.1016/j.cities.2025.106376","DOIUrl":"10.1016/j.cities.2025.106376","url":null,"abstract":"<div><div>In recent years, the concept of proximity has garnered increasing attention in both transportation research and practice, albeit under various terms and interpretations. Among these, the concept of the <em>15-minute city</em> has catalysed attention in planning practice, with recent evolution to the <em>x-minute city</em> and <em>city of proximities</em>. In research, proximity-centred accessibility has been offered as an umbrella term to express the ability to reach activities and destinations at short distances. Regardless of the terminology used, the essence of proximity lies in the ease with which one can access desired activities and destinations within reasonable travel times, independent of speed-enhancing transport modes most notably through walking.</div><div>This research investigates the nuanced meanings ascribed to proximity-centred accessibility by planning practitioners globally, spanning diverse regional and local contexts. For this, we used an online survey, disseminated among over 9000 practitioners from 22 countries across 5 continents, which generated over 1300 responses. The survey explored the preferred terms for proximity-centred accessibility and their definitions, specifically emphasizing time and distance thresholds and the identification of relevant activities. By juxtaposing our findings with an earlier survey of accessibility researchers, this study also contributes to the groundwork for a conceptual framework for proximity-centred accessibility.</div><div>Our findings affirm a relatively consistent interpretation of proximity among global planning practitioners, predominantly extending up to 1600 m, in accordance with earlier results for accessibility researchers. Despite some relevant dissimilarities among practitioners from megacities compared to their smaller city counterparts, or in specific countries (most notably the Netherlands), the distance that is considered proximate is the attribute that generates the most consistent results across different contexts. Also consistent was the relevance of short distances (up to 15 min walking) for activities such as primary and pre-primary schools, playgrounds, parks, food shopping, and pharmacies, reinforcing the importance of proximity to basic and caregiving activities. No term was found to be consistently meaningful across different contexts, although terms like local and neighbourhood accessibility and walking/pedestrian, or cycling accessibility, show higher preference in the global sample.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"167 ","pages":"Article 106376"},"PeriodicalIF":6.6,"publicationDate":"2025-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144896071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}