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Expected balanced uncertain utility
Get PDFWe introduce and analyze expected balanced uncertain utility (EBUU) theory. A prior and a balanced outcome-set utility characterize an EBUU decision maker. Conditional on a reference or "balancing value," the latter assigns a utility to each outcome-set. The decision maker associates with each act, its envelope, the minimal measurable mapping from states to outcome-sets that contains the act. She then (implicitly) ranks an act according to the balancing value at which the expected balanced utility of its associated envelope is zero. As a consequence, her risk preferences need only exhibit betweenness allowing for behavior that can accommodate Allais-type paradoxes
Rental and sale prices of agricultural lands under spatial competition
No full textMuch of the land economics literature has largely ignored the spatial nature of competition and related differences between farmland rental and sales markets when assessing return rates from farming, the capitalization of agricultural, environmental and energy policy into land values, and climate change impacts. We propose a model for price formation in both markets under a spatial competition framework. We demonstrate that price formation differs, particularly under policy-induced output price shocks.We suggest that using the rent-price ratio as an approximation for expectations in the net returns of farming, based on the net present value model, may produce biased results. In consequence, studies relying on land prices need to control for local land competition, farming structure, and policies
Strengthening Europe's capacity to act in foreign and security policy: Securitisation cannot solve the EU's decision-making trap
No full textSince Russia's full-scale invasion of Ukraine on 24 February 2022, a process of securitisation of the European Union's (EU) external action can be observed. From an institutional perspective, the Common Foreign and Security Policy (CFSP) increasingly overlaps with the Common Security and Defence Policy (CSDP). However, this does not solve the problem of a lack of capacity to act in foreign and security policy. On the contrary, the trend towards the securitisation of EU foreign policy is a distraction from the long overdue reform of Europe's capacity to act in foreign and security policy. There are two options to finally improve this: a) a Europeanisation of the European pillar in NATO, and b) a communitarisation of the CFSP and CSDP
Stromnetzausbau: Kapital mobilisieren, Netzentgelte reduzieren
No full textDamit die Energiewende gelingt, muss die deutsche Energieinfrastruktur (Stromübertragungsnetze und Stromverteilnetze) umfassend ausgebaut werden. Es sind Investitionen von mehreren hundert Milliarden Euro nötig. Ein erheblicher Teil davon entfällt auf den Bedarf an zusätzlichem Eigenkapital. Unter den aktuellen regulatorischen und finanziellen Bedingungen gelingt es den Energieversorgungsunternehmen jedoch nicht, das notwendige Kapital zu mobilisieren. Dies gefährdet das Gelingen der Energiewende insgesamt. Um das nötige Eigenkapital zu mobilisieren, schlagen wir eine Kombination aus verstärkter Einbindung privaten Kapitals und staatlichen Beteiligungen vor. Dadurch sichern wir den Ausbau der Netze langfristig ab. Gleichzeitig können die Netzentgelte durch das vorgeschlagene Finanzierungsmodell deutlich gesenkt werden. Im Stromnetzbereich sollte privates Kapital gezielt aktiviert werden. Dazu sollte die regulatorische Eigenkapitalverzinsung moderat erhöht werden. Vor allem für Verteilnetzbetreiber mit eingeschränktem Zugang zum Kapitalmarkt empfehlen wir ein staatlich koordiniertes Fondssystem, das den Zugang zu privatem Kapital erheblich erleichtert. Ergänzend zu dieser stärkeren Einbindung privater Investoren soll der Staat zusätzliches Eigenkapital durch Beteiligungen an Übertragungsnetzbetreibern und Verteilnetzbetreibern bereitstellen. Das Zinsdifferential zwischen der relativ hohen Rendite der Eigenkapitalbeteiligungen und den deutlich günstigeren staatlichen Finanzierungskonditionen ermöglicht es, dass der Staat mit den erzielten Dividenden die Netzentgelte direkt bezuschussen kann. So werden Verbraucher finanziell entlastet und gleichzeitig wird der Netzausbau beschleunigt
Greener on the other side? Mapping China's overseas co-financing and financial innovation
Get PDFChina's global development finance is undergoing a major transformation. As domestic reforms and borrower debt risks rise, Chinese financial institutions are shifting how they finance projects abroad-especially in Africa, where they've long played a major role. This report explores how China is adapting its overseas finance to support green investment, particularly through co-financing models and international partnerships. We deploy innovative AI-driven methodology to identify 'green' investments in China's overseas co-financing, and social network analysis of co-financing relationships between Chinese and international financiers. Chinese financial institutions have backed over $180 billion in syndicated loans from 2013-2021, driven largely by state-owned commercial banks. However, we have yet to see a pivot to green investments, and existing projects are concentrated in higher-income markets. A mismatch persists between the commercially-driven nature of syndicated lending and the regions and sectors most in need of energy transition support. We identify a growing but distinct ecosystem supporting 'green' finance-driven by partnerships with MDBs, public development banks and DFIs, and multilateral co-financing funds. This reinforces the important role of concessional development finance in enabling 'green' investments. Green investments are also increasingly supported through non-development finance instruments, including FDI and green bond proceeds. Chinese banks can help bridge this gap, through building these regional partnerships. The future of China's development finance lies in more diversified, risk-sharing models that better align with global climate goals and local needs
How Do Firms Respond to Parental Leave Absences?
No full textHow do firms adjust their labor demand when a female employee takes temporary leave after childbirth? Using Austrian administrative data, we compare firms with and without a birth event and exploit policy reforms that significantly altered leave durations. We find that (i) firms adjust hiring, employment, and wages around leave periods, but these effects fade quickly; (ii) adjustments differ sharply by gender, reflecting strong gender segregation within firms; (iii) longer leave entitlements extend actual leave absences but have only short-term effects; and (iv) there is no impact on firm closure up to five years after birth
Automatic model generation for material flow simulations of Third-Party Logistics
No full textThe use of Third-Party Logistics (TPL) is a common practice among manufacturing companies seeking to increase profitability. However, the tender process in selecting a TPL service provider can be challenging, requiring significant effort from both the tendering company and the service provider. The latter must meticulously plan processes and calculate pricing positions while running the risk of losing the bid. This risk impedes verifying logistical feasibility and comparing different logistic concepts extensively, such as layouts, which are often work-intensive. With the ongoing progress of research toward automatic simulation model generation for material flow, it is left to answer whether such approaches can improve the planning processes of TPL service providers by using planning data to generate simulation models. Therefore, this work presents a system with an underlying ontology to generate material flow simulations by developing a model transformation methodology. The system’s functions are tested to determine whether they can support the planning process using defined case studies that cover everyday planning decisions. As a result, the system is capable of verifying the performance of planned logistic systems with minimal manual modelling efforts. This encompasses the evaluation of alternative logistical concepts for configuring the planned systems
Exploring the scope of generative AI in literature review development
No full textArtificial intelligence (AI) has the potential to transform the way research is conducted, particularly through generative AI (GenAI) tools which can enhance written communication and foster innovation via knowledge development. This study focuses on the latter, examining the role of GenAI in specific knowledge development activities within literature reviews. Through an epistemological lens, we distinguish six key knowledge development activities: research synthesis, evidence aggregation, critique, theory building, research gap identification, and research agenda development. Our analysis demonstrates both the capabilities and limitations of GenAI in supporting these activities, highlighting how GenAI can assist in synthesizing previous work, discovering and integrating concepts, and advancing various knowledge domains. We emphasize a human-centered, synergistic approach where GenAI complements researchers’ efforts, rather than replacing them. Additionally, our activity-centric analysis provides insights into how different types of literature reviews can effectively benefit from GenAI support, thereby contributing to a broader understanding of AI integration in information systems research
Geoeconomia e protecionismo: Novas configurações do comércio internacional
No full textThe objective of this discussion paper is to examine the geoeconomic landscape following the 2025 election of Donald Trump, focusing on the expansion of protectionism, its repercussions for food security, and its impacts on global value chains, particularly within agribusiness and sectors associated with the energy transition process. The analysis addresses the increase in tariffs and potential retaliatory measures, demonstrating how such practices may influence prices, redirect trade flows, and intensify diplomatic tensions. It also evaluates the United States stance regarding climate commitments and environmental policies, as well as the regression in the promotion of clean energy. Furthermore, the paper explores Brazil's position in response to these developments and the implications for its commercial integration and climate strategy. Finally, it suggests that, despite the rise of protectionism, adaptive and cooperative initiatives exist that can mitigate macroeconomic risks and secure stability in the food suppl
KI-Nähe im Job zahlt sich aus
Get PDFBeschäftigte, deren Aufgaben eine Nähe zu den Anwendungspotenzialen von Künstlicher Intelligenz (KI) aufweisen, erhalten höhere Tagesentgelte als Beschäftigte in KI-fernen Tätigkeiten. Sie wechseln zudem seltener den Betrieb und haben seltener längere Arbeitslosigkeitsperioden. Die Sorge vor einer zunehmenden Verbreitung von KI im Arbeitsalltag scheint bisher unbegründet