{"title":"Relationships between six cultural scales and ten ageism dimensions: Correlation analysis using data from 31 countries","authors":"Keisuke Kokubun","doi":"arxiv-2408.04781","DOIUrl":"https://doi.org/arxiv-2408.04781","url":null,"abstract":"As the aging of the world accelerates, clarifying the relationship between\u0000cultural differences and ageism is an urgent issue. Therefore, in this study,\u0000we conducted a correlation analysis between the six cultural scales of Hofstede\u0000et al. [1] and the 10 ageism scales calculated from data on 35,232 people from\u000031 countries included in the World Values Survey Wave 6 by Inglehart et al.\u0000[2]. The results of a partial correlation analysis controlling for economic and\u0000demographic factors showed that the cultural scales were correlated with\u0000ageism. This is the first study to show that diverse cultural scales are\u0000related to multiple dimensions of ageism.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Redefining Accountability: Navigating Legal Challenges of Participant Liability in Decentralized Autonomous Organizations","authors":"Aneta Napieralska, Przemysław Kępczyński","doi":"arxiv-2408.04717","DOIUrl":"https://doi.org/arxiv-2408.04717","url":null,"abstract":"In the digital era, where innovative technologies like blockchain are\u0000revolutionizing traditional organizational paradigms, Decentralized Autonomous\u0000Organizations (DAOs) emerge as avant-garde models of collective governance.\u0000However, their unique structure challenges existing legal frameworks,\u0000especially concerning the liability of participants. This study focuses on\u0000analyzing the legal implications of the decentralized nature of DAOs, with a\u0000particular emphasis on the aspects of participant liability. Such\u0000considerations are essential for understanding how current legal systems might\u0000be adapted or reformed to effectively address these novel challenges. The paper examines the specificity of DAOs, highlighting their decentralized\u0000governance structure and reliance on smart contracts, which introduce unique\u0000issues related to the blurring of liability boundaries. It underscores how the\u0000anonymity of DAO participants and the automatic execution of smart contracts\u0000complicate the traditional concept of legal liability, both within the DAO\u0000context and in interactions with external parties. The analysis also includes a comparison between DAOs and traditional\u0000organizational forms, such as corporations and associations, to identify\u0000potential analogies and differences in participant liability. It explores how\u0000existing regulations on partner liability might be insufficient or inapplicable\u0000in the DAO context, prompting the search for new, innovative legal solutions.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"\"The Strength of Weak Ties\" Varies Across Viral Channels","authors":"Shan Huang, Yuan Yuan, Yi Ji","doi":"arxiv-2408.03579","DOIUrl":"https://doi.org/arxiv-2408.03579","url":null,"abstract":"The diffusion of novel information through social networks is essential for\u0000dismantling echo chambers and promoting innovation. Our study examines how two\u0000major types of viral channels, specifically Direct Messaging (DM) and\u0000Broadcasting (BC), impact the well-known \"strength of weak ties\" in\u0000disseminating novel information across social networks. We conducted a\u0000large-scale empirical analysis, examining the sharing behavior of 500,000 users\u0000over a two-month period on a major social media platform. Our results suggest a\u0000greater capacity for DM to transmit novel information compared to BC, although\u0000DM typically involves stronger ties. Furthermore, the \"strength of weak ties\"\u0000is only evident in BC, not in DM where weaker ties do not transmit\u0000significantly more novel information. Our mechanism analysis indicates that the\u0000content selection by both senders and recipients, contingent on tie strength,\u0000contributes to the observed differences between these two channels. These\u0000findings expand both our understanding of contemporary weak tie theory and our\u0000knowledge of how to disseminate novel information in social networks.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adam Graham-Squire, Matthew I. Jones, David McCune
{"title":"New fairness criteria for truncated ballots in multi-winner ranked-choice elections","authors":"Adam Graham-Squire, Matthew I. Jones, David McCune","doi":"arxiv-2408.03926","DOIUrl":"https://doi.org/arxiv-2408.03926","url":null,"abstract":"In real-world elections where voters cast preference ballots, voters often\u0000provide only a partial ranking of the candidates. Despite this empirical\u0000reality, prior social choice literature frequently analyzes fairness criteria\u0000under the assumption that all voters provide a complete ranking of the\u0000candidates. We introduce new fairness criteria for multiwinner ranked-choice\u0000elections concerning truncated ballots. In particular, we define notions of the\u0000independence of losing voters blocs and independence of winning voters blocs,\u0000which state that the winning committee of an election should not change when we\u0000remove partial ballots which rank only losing candidates, and the winning\u0000committee should change in reasonable ways when removing ballots which rank\u0000only winning candidates. Of the voting methods we analyze, the\u0000Chamberlin-Courant rule performs the best with respect to these criteria, the\u0000expanding approvals rule performs the worst, and the method of single\u0000transferable vote falls in between.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"60 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Firms' Risk Adjustments to Minimum Wage: Financial Leverage and Labor Share Trade-off","authors":"Ying Liang","doi":"arxiv-2408.03659","DOIUrl":"https://doi.org/arxiv-2408.03659","url":null,"abstract":"This paper evaluates the impact of the German minimum wage policy on firms'\u0000financial leverage. By using a comprehensive firm-establishment-employee linked\u0000dataset and a difference-in-differences estimation with firm-level variation in\u0000treatment intensity, the analysis shows that the average minimum wage level\u0000reduces firms' financial leverage by about 0.5 to 0.9 percentage points,\u0000corresponding to 1 to 2 percent of the mean of financial leverage. Further\u0000investigation of the mechanism shows that the minimum wage does not lead to\u0000significant capital-labor substitution; therefore, the labor share increases.\u0000Firms react to the increased labor share by deleveraging. The results suggest\u0000that while the minimum wage benefits workers by allocating more earnings to the\u0000labor force, it also introduces greater operating risks and encourages\u0000conservative financial behavior among firms.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christoph Czichowsky, Martin Herdegen, David Martins
{"title":"Existence and uniqueness of quadratic and linear mean-variance equilibria in general semimartingale markets","authors":"Christoph Czichowsky, Martin Herdegen, David Martins","doi":"arxiv-2408.03134","DOIUrl":"https://doi.org/arxiv-2408.03134","url":null,"abstract":"We revisit the classical topic of quadratic and linear mean-variance\u0000equilibria with both financial and real assets. The novelty of our results is\u0000that they are the first allowing for equilibrium prices driven by general\u0000semimartingales and hold in discrete as well as continuous time. For agents\u0000with quadratic utility functions, we provide necessary and sufficient\u0000conditions for the existence and uniqueness of equilibria. We complement our\u0000analysis by providing explicit examples showing non-uniqueness or non-existence\u0000of equilibria. We then study the more difficult case of linear mean-variance\u0000preferences. We first show that under mild assumptions, a linear mean-variance\u0000equilibrium corresponds to a quadratic equilibrium (for different preference\u0000parameters). We then use this link to study a fixed-point problem that\u0000establishes existence (and uniqueness in a suitable class) of linear\u0000mean-variance equilibria. Our results rely on fine properties of dynamic\u0000mean-variance hedging in general semimartingale markets.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"62 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impossible Trinity of Human Space Usage between Home, Workplace and Amenity","authors":"Shizhen Wang, Stanimira Milcheva","doi":"arxiv-2408.02942","DOIUrl":"https://doi.org/arxiv-2408.02942","url":null,"abstract":"We propose an impossible trinity of human space usage between home,\u0000workplace, and amenity in this paper to explain mobility pattern changes and\u0000shifts in demand for space during COVID-19. We developed detailed time usage\u0000and location visit profiles for 60,131 people in England and Wales by analyzing\u0000about 120 million cell phone location and timestamp records from March 2020 and\u00002021. We found that both at-home time and amenity visits increased during\u0000COVID-19, while workplace visits decreased. Individual visits to different\u0000locations are determined by three key factors: individual preference measured\u0000by pre-pandemic location visit frequency, time constraints influenced by\u0000work-from-home, and space accessibility. We also find that WFH improves\u0000equality of individual amenity usage between people of different incomes.\u0000Low-income and middle-income people saw an 8% and 4% increase in additional\u0000amenity visits, respectively, compared to high-income people during the\u0000pandemic.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"56 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Modeling the impact of Climate transition on real estate prices","authors":"Lionel Sopgoui","doi":"arxiv-2408.02339","DOIUrl":"https://doi.org/arxiv-2408.02339","url":null,"abstract":"In this work, we propose a model to quantify the impact of the climate\u0000transition on a property in housing market. We begin by noting that property is\u0000an asset in an economy. That economy is organized in sectors, driven by its\u0000productivity which is a multidimensional Ornstein-Uhlenbeck process, while the\u0000climate transition is declined thanks to the carbon price, a continuous\u0000deterministic process. We then extend the sales comparison approach and the\u0000income approach to valuate an energy inefficient real estate asset. We obtain\u0000its value as the difference between the price of an equivalent efficient\u0000building following an exponential Ornstein-Uhlenbeck as well as the actualized\u0000renovation costs and the actualized sum of the future additional energy costs.\u0000These costs are due to the inefficiency of the building, before an optimal\u0000renovation date which depends on the carbon price process. Finally, we carry\u0000out simulations based on the French economy and the house price index of\u0000France. Our results allow to conclude that the order of magnitude of the\u0000depreciation obtained by our model is the same as the empirical observations.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Are EU low-carbon structural funds efficient in reducing emissions?","authors":"Marco Dueñas, Antoine Mandel","doi":"arxiv-2408.01782","DOIUrl":"https://doi.org/arxiv-2408.01782","url":null,"abstract":"This paper investigates the effectiveness of the ``low-carbon economy''\u0000expenditures from European Structural and Investment Funds in fostering\u0000reductions in greenhouse gas emissions within European regions, focusing on the\u00002007-2013 and 2014-2020 programme periods. By decomposing emissions time series\u0000into trend and cycle components and considering them within a panel data\u0000framework, our research highlights that the impacts of low-carbon economy\u0000expenditures vary, qualitatively and quantitatively, with the targeted regions'\u0000development level. We find significant emissions reductions in developed and\u0000transition regions yet less favourable outcomes in less developed areas.\u0000Further analysis into specific greenhouse gas emissions types (CO$_2$, CH$_4$,\u0000and N$_2$O) reveals inconsistent impacts, underscoring the complexity of\u0000achieving emissions reductions. Our findings emphasise the need for tailored\u0000environmental strategies that accommodate the economic disparities of regions\u0000in the European Union.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"72 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Lower bounds of uncertainty and upper limits on the accuracy of forecasts of macroeconomic variables","authors":"Victor Olkhov","doi":"arxiv-2408.04644","DOIUrl":"https://doi.org/arxiv-2408.04644","url":null,"abstract":"We consider the randomness of values and volumes of market deals as a major\u0000factor that describes lower bounds of uncertainty and upper limits on the\u0000accuracy of the forecasts of macroeconomic variables, prices, and returns. We\u0000introduce random macroeconomic variables, whose average values coincide with\u0000usual macroeconomic variables, and describe their uncertainty by coefficients\u0000of variation that depend on the volatilities, correlations, and coefficients of\u0000variation of random values or volumes of trades. The same approach describes\u0000bounds of uncertainty and limits on the accuracy of forecasts for growth rates,\u0000inflation, interest rates, etc. Limits on the accuracy of forecasts of\u0000macroeconomic variables depend on the certainty of predictions of their\u0000probabilities. The number of predicted statistical moments determines the\u0000veracity of macroeconomic probability. To quantify macroeconomic 2nd\u0000statistical moments, one needs additional econometric methodologies, data, and\u0000calculations of variables determined as sums of squares of values or volumes of\u0000market trades. Forecasting of macroeconomic 2nd statistical moments requires\u00002nd order economic theories. All of that is absent and for many years to come,\u0000the accuracy of forecasts of the probabilities of random macroeconomic\u0000variables, prices, and returns will be limited by the Gaussian approximations,\u0000which are determined by the first two statistical moments.","PeriodicalId":501273,"journal":{"name":"arXiv - ECON - General Economics","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-08-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141943267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}