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Book part
Publication date: 7 December 2001

Sardas M.N. Islam

Abstract

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Optimal Growth Economics: An Investigation of the Contemporary Issues and the Prospect for Sustainable Growth
Type: Book
ISBN: 978-0-44450-860-7

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Article
Publication date: 6 January 2021

Mehmet Asutay and Isa Yilmaz

This study aims to theoretically explore and examine the possibility of developing an Islamic social welfare function (ISWF) within the Islamic moral economy (IME) frame…

Abstract

Purpose

This study aims to theoretically explore and examine the possibility of developing an Islamic social welfare function (ISWF) within the Islamic moral economy (IME) frame by going beyond the traditional fiqhī approach. It focuses on issues of preference ordering and utility through the normative dimension of Islamic ontology, as expressed and articulated within the IME.

Design/methodology/approach

Being a theoretical paper, a conceptual and critical discursive approach is used in this paper.

Findings

To establish an ISWF, a narrow juristic approach remains inadequate; there is a need to integrate the substantive morality to complement the juristic approach to achieve the ihsani process as the ultimate individual objective, which makes an ISWF possible. As the scattered debate on the topic concentrates mainly on the juristic approach, the main contribution of this study is to present a model in which juristic and moralist positions endogenized and augmented to constitute ISWF.

Originality/value

As there is a limited amount of research available on the subject matter, this paper will be an important theoretical contribution. In addition, this study develops an IME approach rather than fiqh-based approach used in the available research, which makes it novel.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 3
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 1 April 1989

Stavros A. Drakopoulos

The starting‐point of the article is the inconsistency between theestablished practice of acceptance in many cases, of economic policy(i.e. progressive taxation, national…

Abstract

The starting‐point of the article is the inconsistency between the established practice of acceptance in many cases, of economic policy (i.e. progressive taxation, national insurance policies) and the theoretical rejection of interpersonal comparisons of utility who see it as an unscientific value judgement. The inconsistency is explained by identifying three groups of theorists: (1) those who thought of comparability as a value judgement and unacceptable for economic policy considerations (positivists), (2) those who agreed with the positivists, on the normative nature of comparability but accepted it as a basis for economic policy, and (3) those who thought of it as part of a scientific economics. The implication was that, despite the dominance of positivist methodology in other sub‐fields, the historical experience points to the difficulty of applying positivist methodology to the issue of comparability. If the inconsistency is thus due to the inappropriateness of the positivist approach, the only possible solution is the explicit abandonment of this approach at least in matters related to the collective aspects of economics.

Details

Journal of Economic Studies, vol. 16 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 28 June 2019

Qiang Hou and Jiayi Sun

The authors consider a dynamic emission-reduction technology investment decision-making problem for an emission-dependent dyadic supply chain consists of a manufacturer…

Abstract

Purpose

The authors consider a dynamic emission-reduction technology investment decision-making problem for an emission-dependent dyadic supply chain consists of a manufacturer and a retailer under subsidy policy for carbon emission reduction. The consumers are assumed to prefer to low-carbon products and formulate a supply chain optimal control problem.

Design/methodology/approach

The authors adopt differential game to analyze investment strategies of cost subsidy coefficient with respect to vertical incentive of a manufacturer and a retailer. A comparison analysis under four different decision-making situations, including decentralized decision-making, centralized decision-making, maximizing social welfare, is obtained.

Findings

The results show that the economic benefit and environmental pressure have a win–win performance in centralized decision-making. In four different game models, equilibrium strategies, profits and social welfare show changing diversity and have a consistent development trend as time goes on.

Research limitations/implications

The authors estimate the demand function is a linear function in this paper. According to the consumers’ preference to low-carbon products, consumer’s awareness meets the law of diminishing marginal utility like advertising goodwill accumulation. The carbon-sensitive coefficient might be a quadratic expression, which will complicate the problem and be consistent with reality.

Practical implications

It captures that there is a necessity to strengthen cooperation and exchange of carbon emission technology among the enterprises by simulation of different decision-makings when government granted cost subsidy.

Social implications

The results provide significant guidelines for the supply chain to make decision-makings of emission-reduction technology investment and relevant government departments to determine emission subsidies costs.

Originality/value

An endogenous subsidies coefficient is produced by the social welfare function. Distinguished from previous study, it also considered the influences of carbon emission trade policy and consumer preference.

Details

Kybernetes, vol. 49 no. 2
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 1 August 2000

Ursula Backhaus

Wilhelm Launhardt (1832‐1918) is a founder of mathematical economics. His main work, Mathematical Foundations of Economics, published in 1885, was translated into English…

Abstract

Wilhelm Launhardt (1832‐1918) is a founder of mathematical economics. His main work, Mathematical Foundations of Economics, published in 1885, was translated into English in 1993. As an engineer, he contributed to the field of not only engineering, but also of economics and, in particular, to those parts in economics which can be treated fruitfully with mathematics. Launhardt developed his work independently from the French engineers, but based it squarely on the work of the agricultural engineer von Thünen. He made references to the economists Sax, Walras and Jevons. His main economic contribution lies in founding location theory but, beyond that, he contributed to the mathematical treatment of economics, labor economics, monetary economics and technology economics with a special emphasis on railway issues from a locational point of view. Hence, it is the purpose of this paper to show how Launhardt used mathematics in his engineering‐based approach to the economics of location and technology.

Details

Journal of Economic Studies, vol. 27 no. 4/5
Type: Research Article
ISSN: 0144-3585

Keywords

Content available
Article
Publication date: 15 November 2018

Wu Fuxiang and Cai Yue

At present, China’s industrial spatial layout faces the predicament of over-agglomeration of Eastern China industries and the near disintegration of industrial structure…

Abstract

Purpose

At present, China’s industrial spatial layout faces the predicament of over-agglomeration of Eastern China industries and the near disintegration of industrial structure in the central and western regions. The paper aims to discuss this issue.

Design/methodology/approach

Based on the perspective of differentiated inter-regional labor mobility, this paper constructed a model framework of quadratic sub-utility quasi-linear preference utility function, and conducted model deduction and numerical simulation on causal factors of this spatial imbalance along the two dimensions of individual and regional welfare.

Findings

The study finds that in the long run, industrial spatial layout imposes a certain threshold limit on the portfolio proportion of differentiated labor. The dilemma of China’s industrial spatial layout is attributable to the deviation of the market’s optimal agglomeration from the social optimal agglomeration, and to the disfunction of Eastern China’s role as an intermediary between the global and the domestic value chain.

Originality/value

To resolve this predicament of industrial layout, the unitary welfare compensation based on fiscal transfer payment has to be switched to a more comprehensive approach giving consideration to industrial rebalancing.

Details

China Political Economy, vol. 1 no. 2
Type: Research Article
ISSN: 2516-1652

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Book part
Publication date: 16 November 2016

Oded Stark and Marcin Jakubek

Let there be two individuals: “rich,” and “poor.” Due to inefficiency of the income redistribution policy, if a social planner were to tax the rich in order to transfer to…

Abstract

Let there be two individuals: “rich,” and “poor.” Due to inefficiency of the income redistribution policy, if a social planner were to tax the rich in order to transfer to the poor, only a fraction of the taxed income would be given to the poor. Under such inefficiency and a standard utility specification, a Rawlsian social planner who seeks to maximize the utility of the worst-off individual will select a different allocation of incomes than a utilitarian social planner who seeks to maximize the sum of the individuals’ utilities. However, when individuals prefer not only to have more income but also not to have low status conceptualized as low relative income, and when this distaste is incorporated in the individuals’ utility functions with a weight that is greater than a specified critical level, then a utilitarian social planner will select the very same income distribution as a Rawlsian social planner.

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Article
Publication date: 1 February 1978

LEONARD FONG‐SHENG WANG

To find the way to obtain the maximization of social welfare has been a focus of welfare economics. Pareto optimal conditions are usually considered a sufficient condition…

Abstract

To find the way to obtain the maximization of social welfare has been a focus of welfare economics. Pareto optimal conditions are usually considered a sufficient condition for the Welfare maximization, i.e., the first best solution. Under the mixed economy, however, it is almost impossible to reach this “Utopia” (pareto optimum) with institutional constraints such as monopoly and taxes. The second best solution then becomes the realistic and interesting problem few economists have paid attention to in the last two decades. In studying the second best theory, the following question arises: If a constraint, which prevents the satisfaction of at least one of the paretian conditons, is introduced into a general equilibrium system, which second best conditions depart from the corresponding paretian condition?

Details

Studies in Economics and Finance, vol. 2 no. 2
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 11 March 2021

Yong Liu, Wenwen Ren, Qian Xu and Zhiyang Liu

This paper aims to deal with the coordination problem of the supply chain through cost sharing of corporate social responsibility (CSR) and government subsidy.

Abstract

Purpose

This paper aims to deal with the coordination problem of the supply chain through cost sharing of corporate social responsibility (CSR) and government subsidy.

Design/methodology/approach

With respect to the coordination problem of the supply chain with CSR, this paper constructs a three-stage game model consisting of a dominant retailer, n suppliers and government. From the perspective of cost sharing and government subsidies, this paper discussed the decentralized and centralized decision-making, respectively. On this basis, this paper designed a coordination mechanism considering both cost sharing and government subsidies and explore the impact of cost sharing rate and government subsidy rate on CSR efforts, members’ profits and social welfare.

Findings

CSR can improve the profits of supply chain members and the overall performance of the supply chain. Then the profits of supply chain nodal enterprises will be affected by the fulfillment level of CSR of their partners. Furthermore, excessive CSR will erode the supply chain profits and cause resource waste. High CSR costs often make retailers low CSR effort level, while a high CSR cost sharing rate can reduce the profits of suppliers and the supply chain. In addition, excessive government subsidies will lead to the decline of social welfare. Excessive government subsidies will cause the dependence of enterprises and affect their operating efficiency.

Practical implications

The proposed coordination mechanism can effectively do with the coordination problem of the supply chain.

Originality/value

The proposed coordination mechanism considering cost sharing and government subsidies simultaneously can effectively deal with conflict problems and guarantee the supply chain members and the supply chain to maximize their profits and social welfare.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

Abstract

Details

Transportation and Traffic Theory in the 21st Century
Type: Book
ISBN: 978-0-080-43926-6

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