Characterization of the instability mechanisms affecting slopes on carbonatic Flysch: Alicante (SE Spain), case study

The studied Flysch sequence of Alicante occupies a widely populated area crossed by main communication routes. The slopes existing on this area usually suffer slope instabilities that cause substantial damage and a very high maintenance cost. In order to assess the type of instability mechanisms affecting these heterogeneous carbonatic slopes, in this paper a wide inventory of 194 Flysch rock slopes has been performed, reporting the existing lithologies, their competence and their relative arrangement and the geometrical relationship between bedding and the slope and the associated instability mechanism. All these data have been jointly used for performing an instability mechanisms characterization. For systematically characterizing the wide type of complex rock exposures existing in the study area, they are divided into basic units referred as lithological pattern columns to which the different observed instability mechanisms are associated. Inventoried instability mechanisms are diverse and sometimes are combined with each other. Rockfalls are a very common instability mechanism associated to the differential weathering and sapping of the marly lithologies which are present in a wide number of geometrical combinations. The other instability mechanisms closely depend on the combination of the geometrical and lithological parameters. Therefore, this work provides a new basic tool which can be easily used during preliminary project stages for knowing the instability mechanisms which can affect rock slopes excavated on carbonatic Flysch heterogeneous geological formations.

Is financial instability male-driven? Gender and cognitive skills in experimental asset markets

The hypothesis that price stability would reliably increase with the fraction of women operating in financial markets has been frequently suggested in policy discussions. To test this hypothesis we conducted 10 male-only, 10 female-only and 10 mixed-gender experimental asset markets, and compared the effects of gender composition, confidence, risk attitude and cognitive skills. Male and female markets have comparable volatility and deviations from fundamentals, whereas mixed-gender markets are substantially more stable. On the other hand, higher average cognitive skills of the group are associated with reduced market volatility. Individual-level analysis shows that subjects with higher cognitive skills trade at prices closer to fundamental values and earn significantly higher profits; similarly, mixed markets exhibit lower mispricing, particularly for traders with lower cognitive skills. Our results are demonstrated to hold in other experimental asset market studies, suggesting that a mixed-gender composition reduces mispricing across different types of asset markets.

Exploring the relationship between educational mismatch, earnings and job satisfaction in the tourism industry

This article analyses the interrelationship between educational mismatch, wages and job satisfaction in the Spanish tourism sector in the first years of the global economic crisis. It is shown that there is a much higher incidence of over-education among workers in the Spanish tourism sector than in the rest of the economy despite this sector recording lower educational levels. This study estimates two models to analyse the influence of the educational mismatch on wages and job satisfaction for workers in the tourism industry and for the Spanish economy as a whole. The first model shows that in the tourism sector, the wage penalty associated with over-education is approximately 10%. The second reveals that in the tourism sector the levels of satisfaction of over-educated workers are considerably lower than those corresponding to workers well assigned. With respect to the differences between tourism and the overall economy in both aspects, the wage penalty is substantially lower in the case of tourism industries and the effect of over-education on job satisfaction is very similar to that of the economy as a whole in a context where both wages and the private returns to education are considerably lower in the tourism sector.