Juchao Zhao , Xiaojun Wang , Entong Ke , Yaolong Zhao
{"title":"Enhancing urban flood resilience: a LightGBM-NSGA2 hybrid model for impervious surface optimization","authors":"Juchao Zhao , Xiaojun Wang , Entong Ke , Yaolong Zhao","doi":"10.1016/j.habitatint.2025.103475","DOIUrl":"10.1016/j.habitatint.2025.103475","url":null,"abstract":"<div><div>Urban renewal is a planned transformation activity in the new development stage of larger cities, and leveraging this opportunity to optimize the spatial layout of impervious surfaces is an important approach to enhancing urban flood resilience. To improve the efficiency of impervious surface optimization, this study integrates machine learning techniques to propose a multi-objective optimization model that considers the spatial characteristics of surrounding units. Firstly, spatial feature information of impervious surfaces around each geographic unit was extracted using a sliding window approach, based on three representative landscape pattern indices: area, shape, and aggregation. Subsequently, data on elevation, slope, water bodies, impervious surfaces, drainage outlet density, and flood points were incorporated to construct a robust flood risk assessment model using the Light Gradient Boosting Machine (LightGBM) algorithm. Finally, this model was coupled with the Non-dominated Sorting Genetic Algorithm 2 to optimize the spatial layout of impervious surfaces. The results show that: (1) LightGBM demonstrated higher accuracy and robustness in urban flood risk assessment compared to other machine learning algorithms; (2)while the total impervious surface area remained nearly unchanged, urban flood risk was reduced by 25.4 %, and the number of historical flood points in medium-high risk and above areas is reduced by 58.82 %.; (3) compared to pre-optimization, the area proportions of medium-risk, medium-high-risk, and extremely high-risk zones decreased by 35.19 %, 50.68 %, and 66.49 %, respectively. By reducing flood risk, our research provides urban planners with an effective tool to mitigate the increasingly severe urban flooding issues, and it offers valuable references for other similar spatial planning challenges.</div></div>","PeriodicalId":48376,"journal":{"name":"Habitat International","volume":"163 ","pages":"Article 103475"},"PeriodicalIF":6.5,"publicationDate":"2025-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144270150","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}
CitiesPub Date : 2025-06-12DOI: 10.1016/j.cities.2025.106138
Haibo Wang , Zhaolang Wu , Qing Hou , Ming Cai
{"title":"Fusing sequence and graph deep learning considering dynamic influence of built environment for crowd flow prediction","authors":"Haibo Wang , Zhaolang Wu , Qing Hou , Ming Cai","doi":"10.1016/j.cities.2025.106138","DOIUrl":"10.1016/j.cities.2025.106138","url":null,"abstract":"<div><div>Accurate modeling and prediction of crowd dynamics at a detailed spatiotemporal level is crucial for urban planning and management. Crowd travel is deeply influenced by built environment. But most of the crowd flow prediction research treated the built environment as a static feature. This study proposes a deep learning-based method considering dynamic influence of built environment to overcome the gap. The time-based multiscale geographic weighted regression is utilized to quantify the dynamic impact of built environment on flows over time. Then, a deep learning module is used to capture the spatial and temporal dependency of the crowd flows. Finally, an operation that fuses the spatiotemporal dependency, dynamic impact of built environment and synchronous features is applied to the crowd flow prediction. Two cases in Guangzhou and Beijing are conducted to demonstrate the superiority of the proposed method. The results are the following: 1) in the Guangzhou case, the prediction errors of the proposed method are 18.22 in mean absolute error and 2.97 % in mean absolute percentage error, which outperforms the benchmark methods; 2) in the Beijing case, the method proposed almost has a lower MAE and MAPE than the benchmark methods in 30- or 60-min time interval prediction; and 3) compared with consideration of static impact, the proposed model of the accuracy respectively increases 2.74 % and 5.72 % in mean absolute error and mean absolute percentage error with consideration to the dynamic influence of built environment.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":"165 ","pages":"Article 106138"},"PeriodicalIF":6.0,"publicationDate":"2025-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144270784","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}
Hendrik Döpper, Alexander MacKay, Nathan H. Miller, Joel Stiebale
{"title":"Rising Markups and the Role of Consumer Preferences","authors":"Hendrik Döpper, Alexander MacKay, Nathan H. Miller, Joel Stiebale","doi":"10.1086/735510","DOIUrl":"https://doi.org/10.1086/735510","url":null,"abstract":"Journal of Political Economy, Ahead of Print. <br/>","PeriodicalId":16875,"journal":{"name":"Journal of Political Economy","volume":"26 1","pages":"000-000"},"PeriodicalIF":8.2,"publicationDate":"2025-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144290221","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}
Economics LettersPub Date : 2025-06-12DOI: 10.1016/j.econlet.2025.112442
Yafei Li , James Si Zeng , Shaoxiang Jiang
{"title":"Does environmental regulation complement ESG Disclosure? Evidence from the emergence of pollution emission permits regime in China","authors":"Yafei Li , James Si Zeng , Shaoxiang Jiang","doi":"10.1016/j.econlet.2025.112442","DOIUrl":"10.1016/j.econlet.2025.112442","url":null,"abstract":"<div><div>Using the staggered adoption of the Pollution Emission Permit as a quasi-natural experiment, we examine whether environmental regulations and ESG disclosures can complement each other. Our findings reveal that this policy reduces pollution among Chinese listed corporations while enhancing the accuracy and quality of ESG disclosures.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"254 ","pages":"Article 112442"},"PeriodicalIF":2.1,"publicationDate":"2025-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144291022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Resources PolicyPub Date : 2025-06-11DOI: 10.1016/j.resourpol.2025.105608
Francis Arthur-Holmes , Jennifer Dokbila Mengba
{"title":"Hidden mining capitalism, mineral transportation chain, and gendering livelihoods in Africa's artisanal and small-scale mining: Evidence from northern Ghana","authors":"Francis Arthur-Holmes , Jennifer Dokbila Mengba","doi":"10.1016/j.resourpol.2025.105608","DOIUrl":"10.1016/j.resourpol.2025.105608","url":null,"abstract":"<div><div>Despite the artisanal and small-scale mining (ASM) literature on mineral transportation roles and gender inequalities, there has been little empirical investigation and theorization of how the mineral transportation chain perpetuates hidden labor exploitation and contributes to the gender pay gap in the sector. This paper conceptualizes “hidden mining capitalism” to explore the often concealed labor exploitation of women's work in the mineral transportation chain in Africa's ASM industry using the case of Northern Ghana. Drawing from our qualitative research, findings highlight that women's involvement in different stages of the mineral transportation chain from the extraction of the mineralized rocks (e.g. gold ore) to the crushing, shanking (i.e. sieving), milling, and washing centers are unremunerated, thus revealing socio-historically and structurally embedded dynamics of women's livelihoods, economic exploitation, and dimensions of “gendered sympathy” towards women in ASM settings. Findings also reveal that rural poverty causes increasing feminization of ASM operations, resulting in women's surplus labor that further produces several pathways for economic exploitation and unsafe working environment. Our inquiry showcases that intersectional factors (such as age, social networks, shanking experience, and ethnicity) shape women's access to transportation and processing roles as mining livelihoods to advance their economic independence and overall well-being. In exploring the above issues, we raise questions about women's role in the mineral transportation chain, particularly those related to economic exploitation (e.g. shanking) and the need for gender-sensitive on-site formalization policies.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"107 ","pages":"Article 105608"},"PeriodicalIF":10.2,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253428","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}
Heng Geng , Harald Hau , Roni Michaely , Binh Hoang Nguyen
{"title":"Common institutional investors and board representation in rival firms","authors":"Heng Geng , Harald Hau , Roni Michaely , Binh Hoang Nguyen","doi":"10.1016/j.jcorpfin.2025.102836","DOIUrl":"10.1016/j.jcorpfin.2025.102836","url":null,"abstract":"<div><div>The large increase in common institutional ownership has raised legitimate antitrust concerns. While the exact channel by which common institutional shareholders might influence firm policy remains unclear, a prominent potential mechanism is corporate board representation. Using hand-collected data on shareholders' board representation, we show that instances of institutional investors simultaneously holding board positions in rival companies are exceedingly rare and do <em>not</em> account for the positive correlation between common institutional ownership and firm-pair profitability. Our findings suggest that board representation by institutional investors is unlikely to represent an empirically potent channel of influence on corporate policy.</div></div>","PeriodicalId":15525,"journal":{"name":"Journal of Corporate Finance","volume":"94 ","pages":"Article 102836"},"PeriodicalIF":7.2,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144298227","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":"Jensen and Meckling at 50","authors":"Patrick Bolton","doi":"10.1016/j.jfineco.2025.104116","DOIUrl":"https://doi.org/10.1016/j.jfineco.2025.104116","url":null,"abstract":"This article does three things: (1) it offers a slightly modernized treatment of the two well-known agency costs of external financing of Jensen and Meckling; (2) it provides a deeper exploration than they offer of the limited liability corporation, and of optimal control allocations when financial contracts are incomplete; and, (3) it assesses the lasting influence or their ideas, their multiple interpretations, as well as misinterpretations.","PeriodicalId":51346,"journal":{"name":"Journal of Financial Economics","volume":"14 1","pages":"104116"},"PeriodicalIF":8.9,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144304681","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":"Contract breach with overconfident expectations: Experimental evidence on reference-dependent preferences","authors":"Sabine Fischer , Kerstin Grosch","doi":"10.1016/j.geb.2025.05.012","DOIUrl":"10.1016/j.geb.2025.05.012","url":null,"abstract":"<div><div>This study examines the effect of agents' overconfident expectations in their production on their contract breach. Drawing on a reference-dependent framework, we theoretically deduce propositions for compliance to agreements where an agent exhibits overconfidence and loss aversion. We further conduct a lab experiment with a multiple-stage design and find that overconfident agents are more likely to breach the contract than non-overconfident agents. Moreover, overconfident agents breach more often and to a greater extent with increasing loss aversion. We also test the impact of a non-deterministic environment (“shock condition”) where payoff misestimation can be masked compared to a deterministic environment (“no-shock condition”). Agents breach more often in the shock condition, but breach extent remains unaffected. Results are mostly in line with the theoretical framework. In a treatment, we manipulate agents' overconfidence exogenously and use it as an instrument to establish causality.</div></div>","PeriodicalId":48291,"journal":{"name":"Games and Economic Behavior","volume":"153 ","pages":"Pages 145-163"},"PeriodicalIF":1.0,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144271798","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":"Liberal norms, colonial sediments: the case of OECD aid statistics","authors":"Anna Khakee, Christa Callus","doi":"10.1080/09692290.2025.2515143","DOIUrl":"https://doi.org/10.1080/09692290.2025.2515143","url":null,"abstract":"","PeriodicalId":48121,"journal":{"name":"Review of International Political Economy","volume":"10 1","pages":"1-30"},"PeriodicalIF":4.3,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144269407","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}
Marielle Brunette , Stéphane Couture , Kene Boun My
{"title":"Probabilistic ambiguity, outcome ambiguity or both: Does it matter for the decision-maker?","authors":"Marielle Brunette , Stéphane Couture , Kene Boun My","doi":"10.1016/j.socec.2025.102390","DOIUrl":"10.1016/j.socec.2025.102390","url":null,"abstract":"<div><div>Decisions under ambiguity are an integral part of the daily life of economic decision-makers. However, if ambiguity bears on the probability, on the outcome, or on both, making a decision then becomes non-trivial and the source of ambiguity can have a major impact on the decision. In this paper, we study how decision-makers react to these different sources of ambiguity. For that purpose, we implemented a lab experiment with 209 students. We found that decision-makers prefer risk over different sources of ambiguity. They also prefer outcome ambiguity to probabilistic ambiguity and double ambiguity. Interestingly, when ambiguity exists in both the outcome and probability, subjects prefer double ambiguity to probabilistic ambiguity.</div></div>","PeriodicalId":51637,"journal":{"name":"Journal of Behavioral and Experimental Economics","volume":"117 ","pages":"Article 102390"},"PeriodicalIF":1.6,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144298442","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}