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Book part
Publication date: 4 September 2023

Stephen E. Spear and Warren Young

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Article
Publication date: 3 August 2023

Phuong Thao Nguyen

A carbon tax has been widely discussed and implemented in developed countries to mitigate carbon emissions, but this measure is still quite new in developing countries. Recently…

Abstract

Purpose

A carbon tax has been widely discussed and implemented in developed countries to mitigate carbon emissions, but this measure is still quite new in developing countries. Recently, the ambition of Vietnam's government in mitigating emissions has been mentioned in international commitments. To achieve these targets, the government is making efforts to seek and implement mitigation measures in the country. While carbon pricing was introduced in Vietnam, there is no study simulating the effects of a carbon tax in the country. This study simulates the environmental and economic effects of a carbon tax and then proposes appropriate policies in Vietnam.

Design/methodology/approach

This study investigates the impact on the Vietnamese economy within the static computable general equilibrium (CGE) framework. Compared with previous models, the proposed model in this paper is a fairly standard CGE approach that tries to picture the economic system of Vietnam. In addition, a carbon tax on output will be modeled in this framework. This carbon tax mechanism is more flexible and direct when a carbon tax is based on direct emissions by industry level and the industry's carbon intensity. The paper decomposes the Vietnamese economy into 18 different production sectors, based on the different emission levels of CO2. The CGE model makes possible to examine the impact of a carbon tax on the whole economy through all possible channels and to differentiate a separate carbon tax among different production sectors. The impact of a differentiated carbon tax is explored not only at the macroeconomic level but also at each different industrial level. Another feature of this paper is to investigate the impact of reallocation revenue from the carbon tax.

Findings

This paper has found that by designing carbon tax scenarios at different carbon prices ($1/tCO2, $5/tCO2, $10/tCO2) with different targeted industries, this study shows that higher carbon prices cause greater damage to GDP and welfare, but also better reductions in emissions. In addition, a carbon tax on the energy sectors results in milder economic and welfare damage but less emission reduction than when levying on all sectors. At the sectoral level, a carbon tax might cause sectoral restruction. Interestingly, the electricity sector is the most affected and also is the main contributor to reducing emissions in Vietnam. Finally, the study also shows that reallocation policies of new revenue from the carbon tax would reduce the economic damage caused by carbon taxes, and in many cases promote GDP and welfare. However, these policies reduce the environmentally positive impact of the carbon tax and even induce an increase in emissions in some cases.

Originality/value

This paper studies the pure impacts of a carbon tax, it also simulates the impact of several recycling policies where the increased tax revenue is incorporated. Thereby, this research supports to design and implement carbon tax policies in Vietnam. This paper also would contribute to the literature an example of the adoption of the carbon tax in a developing country, and it could be a lesson for others with similar conditions. Compared with previous models, the proposed model in this paper is a fairly standard CGE approach that tries to picture the economic system of Vietnam. In addition, a more flexible carbon tax mechanism is proposed to improve adequate coverage of emission resources.

Details

Management of Environmental Quality: An International Journal, vol. 34 no. 6
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 15 December 2023

Wanting Hu and Guangwei Deng

The purpose of this study is to provide an optimal joint strategy of multi-period pricing and sales effort for a retailer with a logit choice demand in an integrated channel.

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Abstract

Purpose

The purpose of this study is to provide an optimal joint strategy of multi-period pricing and sales effort for a retailer with a logit choice demand in an integrated channel.

Design/methodology/approach

Customer demand is characterized by a logit choice model, it varies over time and is influenced by price and sales effort. The multi-period decision model for the retailer is constructed using a discrete-time dynamic programming method to determine the optimal price and sales effort in each period.

Findings

When the inventory level does not exceed a certain threshold, decreasing price and increasing sales effort over time or as inventory level increases are the optimal strategies. However, once the inventory level exceeds the threshold, the optimal strategy is to maintain both price and sales effort constant as the inventory level changes or to increase price and decrease sales effort over time. Additionally, the greater the influence of sales effort on demand or the higher the arrival rate of customers, the higher the optimal price and the greater the optimal sales effort level.

Originality/value

This study contributes to the existing research on dynamic pricing and sales effort in integrated channels by incorporating a logit choice model. Furthermore, it provides valuable management insights for retailers operating in an integrated channel to make pricing and sales effort decisions based on inventory level and time period.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Book part
Publication date: 4 September 2023

Stephen E. Spear and Warren Young

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Article
Publication date: 17 November 2023

Behrooz Ariannezhad, Shahram Shahrooi and Mohammad Shishesaz

1) The OE-MLPG penalty meshfree method is developed to solve cracked structure.(2) Smartening the numerical meshfree method by combining the particle swarm optimization (PSO…

Abstract

Purpose

1) The OE-MLPG penalty meshfree method is developed to solve cracked structure.(2) Smartening the numerical meshfree method by combining the particle swarm optimization (PSO) optimization algorithms and Voronoi computational geometric algorithm. (3). Selection of base functions, finding optimal penalty factor and distribution of appropriate nodal points to the accuracy of calculation in the meshless local Petrov–Galekrin (MLPG) meshless method.

Design/methodology/approach

Using appropriate shape functions and distribution of nodal points in local domains and sub-domains and choosing an approximation or interpolation method has an effective role in the application of meshless methods for the analysis of computational fracture mechanics problems, especially problems with geometric discontinuity and cracks. In this research, computational geometry technique, based on the Voronoi diagram (VD) and Delaunay triangulation and PSO algorithm, are used to distribute nodal points in the sub-domain of analysis (crack line and around it on the crack plane).

Findings

By doing this process, the problems caused by too closeness of nodal points in computationally sensitive areas that exist in general methods of nodal point distribution are also solved. Comparing the effect of the number of sentences of basic functions and their order in the definition of shape functions, performing the mono-objective PSO algorithm to find the penalty factor, the coefficient, convergence, arrangement of nodal points during the three stages of VD implementation and the accuracy of the answers found indicates, the efficiency of V-E-MLPG method with Ns = 7 and ß = 0.0037–0.0075 to estimation of 3D-stress intensity factors (3D-SIFs) in computational fracture mechanics.

Originality/value

The present manuscript is a continuation of the studies (Ref. [33]) carried out by the authors, about; feasibility assessment, improvement and solution of challenges, introduction of more capacities and capabilities of the numerical MLPG method have been used. In order to validate the modeling and accuracy of calculations, the results have been compared with the findings of reference article [34] and [35].

Details

Engineering Computations, vol. 40 no. 9/10
Type: Research Article
ISSN: 0264-4401

Keywords

Book part
Publication date: 23 October 2023

Glenn W. Harrison and Don Ross

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of…

Abstract

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

Details

Models of Risk Preferences: Descriptive and Normative Challenges
Type: Book
ISBN: 978-1-83797-269-2

Keywords

Book part
Publication date: 4 September 2023

Stephen E. Spear and Warren Young

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Article
Publication date: 31 May 2022

Dipankar Das

To run a job guarantee public policy scheme, it is important to know the aspiration level or the reference point of labor, and accordingly, the labor hour and the wage sequence…

Abstract

Purpose

To run a job guarantee public policy scheme, it is important to know the aspiration level or the reference point of labor, and accordingly, the labor hour and the wage sequence are to be prepared. The existing job guarantee schemes consider the same wage rates for all types of jobs. As a result, it is to identify the reference point. The present work aims to propose a job guarantee scheme where different types of jobs have different wage rates. The paper explains the choice problem between labor and leisure at different wage rates and proposes complete computational tools to be incorporated into the job guarantee schemes. The paper also gives a mechanism to prepare the list of jobs and corresponding wage rates by maintaining a balance between labor and leisure, where productive activities measure labor hours and labor welfare measures leisure hours. Lastly, the paper provides the analytical tools to interpret the ex-post data of the job guarantee public policy schemes.

Design/methodology/approach

The paper has been written based on the Coordination Game and its Welfare Implications in the job guarantee public policy schemes.

Findings

The present paper gives an initial work to measure the choice between labor and leisure for the different wage rates practically. This will help in getting the equilibrium strategies, namely, the combination of the labor hour and the wage rate between the policymaker and the labor. This method will help to implement the job guarantee schemes. For example, to run successfully the Basic Income policy, the basic income calculation should give due care; otherwise, there will be a downward trend in the basic income and the welfare of labor will be reduced, because the labor would have to supply excess labor to meet the target income.

Originality/value

This paper derives theories and explains how the equilibrium in this coordination game can be achieved. The paper explains how the policy of the job guarantee schemes can be practiced practically. In the MGNREGA scheme, the public institution declares different categories of jobs with different wage rates. The categories have been classified with respect to the hours required to complete the job. Therefore, the public institution declares different lists or a sequence of pairs of labor hours and wage rates. Moreover, the list is stochastic, because the list can be changed by the inclusion of an offer from the market as well. The labor has to select from the list. The challenge on the part of the public institution is to prepare the list in such a way so that the inclusion of the market offers will not distort the equilibrium of the coordination game. An important method has been proposed here to analyze the ex-post data of job offers so that the preparation of the future sequence of the job offers can be prepared with due care. One objective of the policymaker here is to make a list of job offers in such a way so that the labor supply will be converging to a point and that will not deviate if the wage rate increases further. This objective will make a balance of the distribution of funds between the existing registered labor and the new entrants into the job guarantee schemes.

Details

Journal of Economic Studies, vol. 50 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

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