An Uber for apartments could solve some common housing problems

Speculative property developers, criticised for building dog boxes and the slums of tomorrow, are generally hated by urban planners and the public alike. But the doors of state governments are seemingly always open to developers and their lobbyists. Politicians find it hard to say no to the demands of the development industry for concessions because of the contribution housing construction makes to the economic bottom line and because there is a need for well located housing. New supply is also seen as a solution to declining housing affordability. Classical economic theory however is too simplistic for housing supply. Instead, an offshoot of Game Theory - Market Design – not only offers greater insight into apartment supply but also can simultaneously address price, design and quality issues. New research reveals the most significant risk in residential development is settlement risk – when buyers fail to proceed with their purchase despite there being a pre-sale contract. At the point of settlement, the developer has expended all the project funds only to see forecast revenue evaporate. While new buyers may be found, this process is likely to strip the profitability out of the project. As the global financial crisis exposed, buyers are inclined to walk if property values slide. This settlement problem reflects a poor legal mechanism (the pre-sale contract), and a lack of incentive for truthfulness. A second problem is the search costs of finding buyers. At around 10% of project costs, pre-sales are more expensive to developers than finance. This is where Market Design comes in.

Improved management of key northern region weeds: diverse problems, diverse solutions

The cropping region of northern Australia has a diverse range of cropping systems and weed flora. A fallow phase is commonly required between crops to enable the accumulation of stored soil water in these farming systems dominated by reduced tillage. During the fallow phase, weed control is important and is heavily reliant on herbicides. The most commonly used herbicide has been glyphosate. As a result of over-reliance on glyphosate, there are now seven confirmed glyphosate-resistant weeds and several glyphosate-tolerant species common in the region. As a result, the control of summer fallow weeds is become more complex. This paper outlines project work investigating improved weed control for summer fallows in the northern cropping region. Areas of research include weed ecology, chemical and non-chemical tactics, glyphosate resistance and resistance surveys. The project also has an economic and extension component. As a result of our research we have a better understanding of the ecology of major northern weeds and spread of glyphosate resistance in the region. We have identified and defined alternative herbicide and non-chemical approaches for the effective control of summer fallow weeds and have extended our research effectively to industry.

Joseph A. Schumpeter's Theory of Social and Economic Evolution : a Reconstruction and Critique

The book presents a reconstruction, interpretation and critical evaluation of the Schumpeterian theoretical approach to socio-economic change. The analysis focuses on the problem of social evolution, on the interpretation of the innovation process and business cycles and, finally, on Schumpeter s optimistic neglect of ecological-environmental conditions as possible factors influencing social-economic change. The author investigates how the Schumpeterian approach describes the process of social and economic evolution, and how the logic of transformations is described, explained and understood in the Schumpeterian theory. The material of the study includes Schumpeter s works written after 1925, a related part of the commentary literature on these works, and a selected part of the related literature on the innovation process, technological transformations and the problem of long waves. Concerning the period after 1925, the Schumpeterian oeuvre is conceived and analysed as a more or less homogenous corpus of texts. The book is divided into 9 chapters. Chapters 1-2 describe the research problems and methods. Chapter 3 is an effort to provide a systematic reconstruction of Schumpeter's ideas concerning social and economic evolution. Chapters 4 and 5 focus their analysis on the innovation process. In Chapters 6 and 7 Schumpeter's theory of business cycles is examined. Chapter 8 evaluates Schumpeter's views concerning his relative neglect of ecological-environmental conditions as possible factors influencing social-economic change. Finally, chapter 9 draws the main conclusions.

Income inequality in the process of economic development : An empirical approach

This thesis studies the effect of income inequality on economic growth. This is done by analyzing panel data from several countries with both short and long time dimensions of the data. Two of the chapters study the direct effect of inequality on growth, and one chapter also looks at the possible indirect effect of inequality on growth by assessing the effect of inequality on savings. In Chapter two, the effect of inequality on growth is studied by using a panel of 70 countries and a new EHII2008 inequality measure. Chapter contributes on two problems that panel econometric studies on the economic effect of inequality have recently encountered: the comparability problem associated with the commonly used Deininger and Squire s Gini index, and the problem relating to the estimation of group-related elasticities in panel data. In this study, a simple way to 'bypass' vagueness related to the use of parametric methods to estimate group-related parameters is presented. The idea is to estimate the group-related elasticities implicitly using a set of group-related instrumental variables. The estimation results with new data and method indicate that the relationship between income inequality and growth is likely to be non-linear. Chapter three incorporates the EHII2.1 inequality measure and a panel with annual time series observations from 38 countries to test the existence of long-run equilibrium relation(s) between inequality and the level of GDP. Panel unit root tests indicate that both the logarithmic EHII2.1 inequality measure and the logarithmic GDP per capita series are I(1) nonstationary processes. They are also found to be cointegrated of order one, which implies that there is a long-run equilibrium relation between them. The long-run growth elasticity of inequality is found to be negative in the middle-income and rich economies, but the results for poor economies are inconclusive. In the fourth Chapter, macroeconomic data on nine developed economies spanning across four decades starting from the year 1960 is used to study the effect of the changes in the top income share to national and private savings. The income share of the top 1 % of population is used as proxy for the distribution of income. The effect of inequality on private savings is found to be positive in the Nordic and Central-European countries, but for the Anglo-Saxon countries the direction of the effect (positive vs. negative) remains somewhat ambiguous. Inequality is found to have an effect national savings only in the Nordic countries, where it is positive.

Economic Effects of Global Warming under Stock Growth Uncertainty: The European Sardine Fishery

Global warming of the oceans is expected to alter the environmental conditions that determine the growth of a fishery resource. Most climate change studies are based on models and scenarios that focus on economic growth, or they concentrate on simulating the potential losses or cost to fisheries due to climate change. However, analysis that addresses model optimization problems to better understand of the complex dynamics of climate change and marine ecosystems is still lacking. In this paper a simple algorithm to compute transitional dynamics in order to quantify the effect of climate change on the European sardine fishery is presented. The model results indicate that global warming will not necessarily lead to a monotonic decrease in the expected biomass levels. Our results show that if the resource is exploited optimally then in the short run, increases in the surface temperature of the fishery ground are compatible with higher expected biomass and economic profit.

Prospects and problems of rice-fish culture in Nigeria

This paper examines fish demand and supply and looks at on-going research works in rice-cum-fish culture in Nigeria. It examines all the pre-requisites for adopting this farming system. Economic and Financial analysis were made using experimental plots at two ecological zones of Nigeria. This farming system, which has reached advanced stage in most of Asian countries, could well be practiced in Nigeria to assist farmers to harvest both protein (from fish) and carbohydrate from rice and thereby to improve their standards of live

Local solutions to local problems: A stormwater education collaborative

Currently completing its fifth year, the Coastal Waccamaw Stormwater Education Consortium (CWSEC) helps northeastern South Carolina communities meet National Pollutant Discharge Elimination System (NPDES) Phase II permit requirements for Minimum Control Measure 1 - Public Education and Outreach - and Minimum Control Measure 2 - Public Involvement. Coordinated by Coastal Carolina University, six regional organizations serve as core education providers to eight coastal localities including six towns and cities and two large counties. CWSEC recently finished a needs assessment to begin the process of strategizing for the second NPDES Phase II 5-year permit cycle in order to continue to develop and implement effective, results-oriented stormwater education and outreach programs to meet federal requirements and satisfy local environmental and economic needs. From its conception in May 2004, CWSEC set out to fulfill new federal Clean Water Act requirements associated with the NPDES Phase II Stormwater Program. Six small municipal separate storm sewer systems (MS4s) located within the Myrtle Beach Urbanized Area endorsed a coordinated approach to regional stormwater education, and participated in a needs assessment resulting in a Regional Stormwater Education Strategy and a Phased Education Work Plan. In 2005, CWSEC was formally established and the CWSEC’s Coordinator was hired. The Coordinator, who is also the Environmental Educator at Coastal Carolina University’s Waccamaw Watershed Academy, organizes six regional agencies who serve as core education providers for eight coastal communities. The six regional agencies working as core education providers to the member MS4s include Clemson Public Service and Carolina Clear Program, Coastal Carolina University’s Waccamaw Watershed Academy, Murrells Inlet 2020, North Inlet-Winyah Bay National Estuarine Research Reserve’s Coastal Training and Public Education Programs, South Carolina Sea Grant Consortium, and Winyah Rivers Foundation’s Waccamaw Riverkeeper®. CWSEC’s organizational structure results in a synergy among the education providers, achieving greater productivity than if each provider worked separately. The member small MS4s include City of Conway, City of North Myrtle Beach, City of Myrtle Beach, Georgetown County, Horry County, Town of Atlantic Beach, Town of Briarcliffe Acres, and Town of Surfside Beach. Each MS4 contributes a modest annual fee toward the salary of the Coordinator and operational costs. (PDF contains 3 pages)

Economic Valuation of Ecosystem Services: Conflicts in Classification

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Classifying Ecosystem Services for Economic Valuation: The case of forest water services

30 p.

Economic exploitation in the Philippine small pelagic fishery and implications for management

Causes and impact of the Philippine small pelagic fishery sector problems are presented together with the proposed solutions from fisheries and external sectors. The results of the biological and economic analysis of the small pelagic fishery in the Philippines lead to two conclusions: First, small pelagic fish stocks are subjected to levels of fishing effort far beyond that necessary to generate Maximum Sustainable Yield (MSY) let alone Maximum Economic Yield (MEY). Second, and as a result, both sectors are sustaining economic losses (negative economic rents) implying inefficiencies in the use of labor and capital in the small pelagic fishery. Solutions to the problems of overexploitation will rest not only within the fishery sector, but, more importantly, in sectors outside its traditional realm. The underlying causes of fisheries resource over exploitation are also discussed.

Transportation of fish in India: problems and prospects

India has a long coast line of about 4,800 km along which fish landing centers are scattered. Fish catches are showing an upward trend consequent on rapid mechanization of fishing crafts. Economic utilization of the landed fish is an essential prerequisite for the proper development of Indian fishing and fish processing industries.

Socio-economic conditions of the pond owners of Demra, Dhaka

On the basis of fish culture status 96 ponds of the study area were classified into 4 categories like wild stock (27%), extensive culture (24%), improved extensive culture (33%) and semi-intensive culture (16%). Percentage of small, medium and large ponds were 38, 44, and 18 respectively whereas education levels below SSC, below Bachelor and above were 43, 38 and 19 respectively and single owners belonged to 54% of the ponds. Per hectare yields of extensive, improved extensive and semi-intensive categories of culture were 1.3, 2.12 and 4.0 metric tons respectively and their net return were 46, 63 and 92 thousand taka respectively. Considering the problems of fish culture, multiple ownership was found to be the most important one.

Some problems and issues of sustainable management of mangrove ecosystems of Tamil Nadu, India

Mangrove, a tidal wetland, is a good example of complex land and water system whose resource attributes is neither fully understood from an ecological perspective nor valued comprehensively in economic terms. With increased ecological and social perception of the functions of wetlands, the utility and relative values will increase. The perception, however, varies from society to society. It must be recognized that mangrove forests differ greatly in local conditions and in their ability to produce a wide variety of economic products. What may be highly productive strategy for one country may have little meaning to its neighbor. Therefore, it becomes essential that from among diversity of potential uses of the mangrove environment, specific uses will have to be decided, and management plan developed on site, or area specific basis. It is therefore necessary to arrive at a balance between the views of the ecologists and economists on the management of mangroves. Biological conservation should encompass resource management in the sense that integrity of the biological and physical attributes of the resource base should be sustained and man-induced management practices should not alter an ecosystem to the extent that biological production is eliminated. Sustained yield management for food, fiber and fuel would serve to sustain local fisheries while generating new economic enterprises. This requires the recognition of mangrove environment as a resource with economic value, and managed according to local conditions and national priorities.

Rings around the World: Notes on the Challenges, Problems & Possibilities of International Audience Projects

Egan, K., Barker, M. (2006). Rings around the World: Notes on the Challenges, Problems & Possibilities of International Audience Projects. Participations: Journal of Audience & Reception Studies, 3 (2). Sponsorship: This research was made possible by a grant from the Economic and Social Research Council (ESRC Grant No. 000-22-0323)

Euro-Commentary : Scenario Analysis and Regional Economic Development: The Case of Mid Wales

Fuller-Love, Nerys, et al., 'Euro-Commentary : Scenario Analysis and Regional Economic Development: The Case of Mid Wales', European Urban and Regional Studies (2006) 13(2) pp.143-149 RAE2008