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I study the economic implications of the world oil market dominated by OPEC and non-OPEC major oil producing countries using a general equilibrium model of trilateral trade with oil duopoly. There are three countries and three goods, x, y, and oil (z). Home (H) is endowed with good x . Foreign (F) is endowed with good y and also produces oil (z). Middle (M) is an oil producing country and supplies oil only. I consider two types of oil market structure; (1) Cournot duopoly and (2) perfect competition. I find that Foreign is actually worse off under Cournot duopoly despite being a duopolist for wide range of parameter values that reflect real world situations. This is mainly due to reduced consumption of oil and reduced value of good y endowment under duopoly when Foreign is a net oil exporter or oil autarky, and is also due to worsening terms-of-trade effect under duopoly when Foreign is a net oil importer. Welfare reversal with higher welfare of Foreign under oil duopoly occurs only under highly unrealistic parameter values, and hence the main results of the study remain robust.

The purpose of this paper is to offer original ideas into a potential future cannabis industry in the UK. This paper presents novel approaches regarding the potential existence of cannabis for the tourism industry. It presents an idea in which the UK Government could produce, distribute and control the industry. The proposed idea presents a scheme in which the UK could encourage regional tourism (inclusive to domestic and international travellers) through a controlled but innovative cannabis market scheme. This paper presents a future scenario aiming to encourage dialogue and critique, at a time when attitudes to cannabis are changing.

This research takes a scenario narrative approach in presenting and exploring a potential future cannabis market in the UK. The importance of narrative writing as a method is recognised by Lindgren and Bandhold (2009), who identify the significance in telling a story to the reader. Taking a pragmatic approach, embracing diverse philosophical methods, this research explores past and current trends via a mixture of secondary data sources to create and present a scenario narrative of the future.

This paper identified that trends in legalising cannabis for cultivation, medical and recreational purposes continue to become more liberal globally. However, cannabis laws mainly focus on the use for residents. Consequently, domestic tourism markets have the potential to grow. However, there is limited consideration regarding the potential for international tourism cannabis markets. Thus, the findings of this research are based on the potential for the UK to implement and promote a cannabis industry for international travellers.

This paper offers original ideas in exploring a future cannabis market in the UK, one where regional tourism is considered. The paper presents a novel approach that encourages domestic and international tourists to engage with the cannabis industry by navigating a well-managed, local approach to supplying cannabis in the UK.

The paper examines the increase in annual income of the new middle-class (The NMC) of Delhi-NCR and its impact on their investment habits, consumption habits and lifestyle. The paper aims to look into the transformation of the new middle-class into the NMC in emerging economies and its potential to the companies and investors.

This study draws insight from 558 new middle-class consumers in Delhi-NCR. ANOVA, post hoc tests , and hierarchical multiple linear regression model are applied to test the proposed hypotheses.

The NMC living in India's megacities imitates the lifestyle of their counterparts living in the West. To maintain their status and present themselves different from those living in middle or lower-middle-class categories, they spend audaciously, even though the income is low. When they enter the new middle class, their consumption, saving and lifestyle diversify positively.

This study has limitations. First, the authors do not apply any behavioral theory or marketing model such as the theory of reasoned action (TRA), Engel-kollat-Blackwell (EKB) model or theory of normative model of target markets. Second, the research is limited to the NMC of only one emerging economy, i.e., India. Third, the research sample is limited to only one megacity of India, i.e., Delhi. Finally, this research used only one factor, i.e., AI, to study the consumption pattern.

The results suggest that considering the buying habits and lifestyle of Indian the NMC, consumers would prove helpful to the companies in product decision-making. Furthermore, understanding change in investment habits across different income levels would be advantageous to financial institutions, investment planners and marketers while designing their products to attract investment.

The research holds significance from the point of view of understanding Indian consumers encompassing the the NMC and predicting their implications on consumer goods-producing industries, which shall, in turn, facilitate producers and government in formulating policies and strategies.

In this paper, we view an individual's annuitization decision as an American style call option whose underlying asset is financial wealth, which controls the distance to annuitization. We then derive a certain threshold of wealth over which the individual is optimal to annuitize all of her wealth. We particularly focus on the effects of liquidity constraints on the individual's optimal annuitization decision, concerning their effects on the optimal investment and consumption strategies. We show that the annuitization decision can be significantly affected by the extent to which individual borrowing is constrained. More specifically, the optimal decision is for the individual to annuitize earlier with the tighter liquidity constrains she is exposed to than initially planned. This is particularly relevant to today's pandemic situation especially with the growing concern about cutting credit limits.

The purpose of this paper is to discuss the rise and the future of urban leisure format (ULF), i.e. local seasonal short-lived and repeatable small-scale place-time-based staging urban leisure experiences which become the focus of recreation and tourism development in many cities. It aims to analyse the structure of the ULF by identifying its main features and also to propose the future developments of the concept.

The study is based on the experience economy principles. It develops the models for structured experiences/experienscape by adding the analogy with television programme formats to propose the general logic of constructing, organising and packetizing urban leisure experiences that are multiplied effectively to other urban time-spaces.

The ULF’s future potential lies in its ability to adopt local components, i.e. people and urban resources, to global trends using a structured experiences/experience logic which makes the ULF formattable, i.e. with the capacity to get informally standardised, then repeated and adapted to other cities’ contexts.

The paper provides a conceptual framework for formatting the leisure events and places under the framework of the structured experience, will be carefully adapted to the micro-local level, i.e. community activities sphere. The ULF is a theoretical concept and needs empirical research to verify its validity.

The ULF provides urban managers with a framework for replicating, multiplying and adapting urban leisure events and sites within the structured experiences (SE) designing framework.

The study contributes to the scientific discussion on the experience economy by introducing the ULF concept which can be adapted to various urban conditions.

This paper aims to revolve around two problems which, though imagined as different, can be addressed altogether. On one hand, the advance of terrorism as a major threat to the tourism industry, while – on the other – we discuss the ontological nature of tourism as a rite of passage, which is vital to keep the political legitimacy of officialdom. At the time, paradoxically, social scientists shrug off tourism as a naïve commercial activity, while the main tourist destinations are being attacked by jihadism. This suggests the disinterest of ones associates to the interests of others.

The author holds the thesis that tourism derives from ancient institutions, which illuminated in the growth of Occident and the formation of hospitality. Capitalism hides the importance of tourism as a mere trivialization as a bit-player. However, a closer look reminds precisely the opposite. The recent attacks perpetrated at main destinations reveal tourism as an exemplary (symbolic) center of the West, a source of authority and power for the existing hierarchal order.

The issue captivates the attention of scholars, officials and policymakers, and at the same time, epistemologists of tourism receive a fresh novel debate regarding the origins of tourism.

It is a great paradox that tourism would be selected as a target for jihadism but at the same time a naïve activity for social scientists or at the least by the French tradition. Despite the partisan criticism exerted on tourism as an alienatory force, this work showed two important aspects, which merits to be discussed. At a closer look, tourism should be understood as “a rite of passage” whose function associates to the revitalization of those glitches happened during the cycles of production. Second, and most important, tourism accommodates those frustrations to prevent acts of separatism or the rise of extreme conflict among classes.

The purpose of this paper is to show that the environmental income drives economic growth of a large open country.

The authors detect that the relative environmental income has double effect of “conspicuous consumption” on the international renewable resource stock changes when a new social norm shapes to environmental-friendly behaviors by using normal macroeconomic approaches.

Every unit of extra demand for renewable resource consumption increases the net premium of domestic capital asset. Even if the technology spillovers are inefficient to the substitution of capital to labor force in a real business cycle, the relative income with scale effect increases drives savings to investment. In this case, the renewable resource consumption promotes both the reproduction to a higher level and saving the potential cost of environmental improvement. Even if without scale effects, the loss of technology inefficient can be compensated by net positive consumption externality for economic growth in a sustainable manner.

It implies how to earn the environment income determines the future pathway of China’s rural conversion to the era of eco-urbanization.

We test the tax incidence to demonstrate an experimental taxation for environmental improvement ultimately burdens on international consumption side.

The authors introduce non-Ricardian (“hand-to-mouth”) myopic agents into an otherwise standard real-business-cycle (RBC) setup augmented with a detailed government sector. The authors investigate the quantitative importance of the presence of nonoptimizing households for cyclical fluctuations in Bulgaria.

The authors calibrate the RBC model to Bulgarian data for the period following the introduction of the currency board arrangement (1999–2018).

The authors find that the inclusion of such non-Ricardian households improves model performance along several dimensions and generally provides a better match vis-a-vis data, as compared to the standard model populated with Ricardian agents only.

This is a novel finding in the macroeconomic studies on Bulgaria using modern quantitative methods.

The purpose of the study is to understand how the consumption of online pornography runs through fantasy, discourse and the exercise of female sexuality.

First, the study analyzed a few information obtained from a secret group of the social media Facebook. Secondly, the research was developed based on the information gathered during the observation period; 11 in-depth interviews were conducted with women that participated in the aforementioned group. In order to analyze the data, the study used the French discourse analysis as methodological tool.

It was possible to realize that the consumption of pornographic content is motivated by curiosity, pursuit of variety and sexual fantasies, and it ends up strengthening stereotypes related to the concept of beauty and body standards. Also, the consumption of pornography can be seen as an important feature in the reformulation of perceptions and creation of senses related to pornography itself, pleasure, self-knowledge and in the constitution of the subjectivities of the consumers, despite the influence of the cultural context in which they are inserted into.

The consumption of online pornography can be seen as an important “social operator”; that is, the consumption of pornography reflects and refracts what is socially established as beautiful and adequate in terms of the human figure. The outcomes of this research lead to debates that can challenge standardized world perspectives, besides expanding the discussion of such consumption made by women.

Taking into consideration the significant volume of pornography consumption and the high figures that this market indicates, one can notice that literature related to consumption studies has neglected this specific theme.

The aim of the paper is to ethnographically detail the poverty-shame nexus in contemporary Spain, and to highlight the contradictions of the newly adopted consumption-based models of inclusion led by charities.

Drawing on 39 cases out of a sample of 78 gathered through two long-term research projects, the paper employs a mixed-methods approach that mainly draws on a multi-sited ethnographic approach and interviews.

The paper ethnographically documents major contradictions that shed light on the complex relationships between poverty, shame, work and consumption in modern societies.

This paper analyses the sources of shame in the experience of poverty and downward mobility, but also it opens new ground for understanding the complex poverty–shame nexus and lets some questions unanswered.

The contradictions highlighted shed light on the complex relationships between poverty, shame, work and consumption that may inform modern policies to fight poverty. Ethnography gives voice to these individuals that currently experience an increasingly precarious and unequal modern world.

The paper contributes to a better understanding of the processes that underlie modern poverty and downward social mobility and points out the contradictions generated by consumption-based models of inclusion.

While the poverty-shame nexus has been already analyzed from the point of view of stigma and exclusion from the labor market, the links between a growing consumerism and the neo-liberal values that underlie our modern societies are largely unexplored. The ethnographic contribution and the detailed case studies are also original in the case of Spain.