How many dimensions of biodiversity do we need?

Biodiversity is not a commodity, nor a service (ecosystem or otherwise), it is a scientific measure of the complexity of a biological system. Rather than directly valuing biodiversity, economists have tended to value its services, more often the services of 'key' species. This is understandable given the confusion of definitions and measures of biodiversity, but weakly justified if biodiversity is not substitutable. We provide a quantitative and comprehensive definition of biodiversity and propose a framework for examining its substitutability as the first step towards valuation. We define biodiversity as a measure of semiotic information. It is equated with biocomplexity and measured by Algorithmic Information Content (AIC). We argue that the potentially valuable component of this is functional information content (FIC) which determines biological fitness and supports ecosystem services. Inspired by recent extensions to the Noah's Ark problem, we show how FIC/AIC can be calculated to measure the degree of substitutability within an ecological community. From this, we derive a way to rank whole communities by Indirect Use Value, through quantifying the relation between system complexity and production rate of ecosystem services. Understanding biodiversity as information evidently serves as a practical interface between economics and ecological science.

Norberg-Schulz’ Elements of Space in Dark City

Alex Proyas' science fiction film Dark City (1998) puts forth questions about the building process of a city. The aliens in the film constantly alter each street, building and room to create the right environment for humans to dwell. The ‘strangers’ believe that they need to study humans in their spaces to understand human nature. They use bits and pieces of people's memories to reconstruct the city.

Christian Norberg-Schulz identifies four elements of space: physical, perceptual, existential and conceptual. Physical space is physical existence as it is. Perceptual space is the temporary space the user perceives. Existential space, for instance, the meaning of the concept of home, is abstract and permanent; it does not change with changing conditions. Finally, conceptual space, in his spatial philosophy, is the space concept of specialists like architects, economists and mathematicians.

This article analyses the future noir environment of Dark City from a spatial perspective. The notion of building is studied as to physical, perceptual, existential and conceptual spaces of Norberg-Schulz through concepts of home, identity, belonging, and alienation with reference to the architecture of the city.

Functional Complexity: The source of value in biodiversity.

Biodiversity may be seen as a scientific measure of the complexity of a biological system, implying an information basis. Complexity cannot be directly valued, so economists have tried to define the services it provides, though often just valuing the services of 'key' species. Here we provide a new definition of biodiversity as a measure of functional information, arguing that complexity embodies meaningful information as Gregory Bateson defined it. We argue that functional information content (FIC) is the potentially valuable component of total (algorithmic) information content (AIC), as it alone determines biological fitness and supports ecosystem services. Inspired by recent extensions to the Noah's Ark problem, we show how FIC/AIC can be calculated to measure the degree of substitutability within an ecological community. Establishing substitutability is an essential foundation for valuation. From it, we derive a way to rank whole communities by Indirect Use Value, through quantifying the relation between system complexity and the production rate of ecosystem services. Understanding biodiversity as information evidently serves as a practical interface between economics and ecological science. © 2012 Elsevier B.V.

Fabricating Economic Development

This paper is concerned with the institutions of Irish economics; it is structured around two arguments each of which links to the thesis presented in Garvin’s Preventing the future (2004). Overall it will be demonstrated that Irish economics was shaped by intellectual trends experienced within economic thought globally as well as the social considerations that were peculiar to Ireland. The evidence presented indicates that firstly while Economic Development mattered to the Irish economy it did not matter for the reasons that most writers have suggested it did. It is argued for instance that much of the literature, regardless of academic discipline, presents the publication of Economic Development in 1958 as analogous to a “big bang” event in the creation of modern Ireland. However, such a “big bang” perspective misrepresents the sophistication of economic debates prior to Whitaker’s report as well as distorting the interpretation of subsequent developments. The paper secondly, by drawing on the contents of contemporary academic journals, reappraises Irish economic thinking before and after the publication of Economic Development. It is argued that an economically “liberal” approach to Keynesianism, such as that favoured by TK Whitaker and George O’Brien, lost out in the 1960s to a more interventionist approach: only later did a more liberal approach to macroeconomic policy triumph. The rival approaches to academic economics were in turn linked to wider debates on the influence of religious authorities on Irish higher education. Academic economists were particularly concerned with preserving their intellectual independence and how a shift to planning would keep decisions on resource allocation out of the reach of conservative political and religious leaders.

Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law

Despite the growing sophistication of antitrust regimes around the world, export cartels benefit from special treatment: they are almost universally tolerated, if not encouraged in the countries of origin. Economists do not offer an unambiguous policy recommendation on how to deal with them in part due to the lack of empirical data. This article discusses arguments for and against export cartels and it identifies the existing gaps in the present regulatory framework. The theoretical part is followed by an analysis of the recent case law: a US cartel challenged with different outcomes in India and South Africa, as well as Chinese export cartels pursued in the USA. The Chinese cases are particularly topical as the conduct at stake, apart from being subject to private antitrust actions before US courts, was also challenged within the WTO dispute settlement framework, pointing out to the existing interface between trade and competition. While the recent developments prove that unaddressed issues tend not to vanish, the new South-North dimension has the potential of placing export cartels again on the international agenda. Pragmatic thinking suggests looking for the solution within the WTO framework.

Linking response strategies adopted by construction firms during the 2007 economic recession to Porter’s generic strategies

The time period bridging the years 2007 to 2012 will be remembered as one characterised by dramatic changes in the Irish and UK construction industries. Construction companies witnessed unprecedented changes in the environment, namely the coincidence of a sharp economic downturn, the significant decline of public works, a reduction in lending, increased competition, and structural changes in the marketplace. Nevertheless, little has been documented on what response strategies construction companies adopt as a result of an economic recession. Based on four exploratory case studies, a taxonomy framework of the response strategies adopted by Irish and UK construction companies during the 2007 economic recession was developed relative to Porter’s (1980) generic strategies of cost leadership, differentiation, and focus. Porter’s model (1980) is a well known theoretical framework among business strategists and industrial economists worldwide. The analysis provides strong support for the adoption of cost leadership strategies as a means to surviving the 2007 economic recession. The case studies further suggest that cost control initiatives are one of the most important attributes in companies’ responses to the 2007 recession. The findings provide valuable assistance for construction contractors in developing effective strategies and thus reducing business failures during recessionary periods.

Measuring non-use value of environmental goods using the contingent valuation method:problems of information and cognition and the application of cognitive questionnaire design methods

Much interest now focuses on the use of the contingent valuation method (CVM) to assess non-use value of environmental goods. The paper reviews recent literature and highlights particular problems of information provision and respondent knowledge, comprehension and cognition. These must be dealt with by economists in designing CVM surveys for eliciting non-use values. Cognitive questionnaire design methods are presented which invoke concepts from psychology and tools from cognitive survey design (focus groups and verbal reports) to reduce a complex environmnetal good into a meaningful commodity that can be valued by respondents in a contingent market. This process is illustrated with examples from the authors' own research valuing alternative afforestation programmes. -Authors