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Rural e-commerce has served as a crucial bridge between farmers and markets, playing a pivotal role in the transformation of agricultural landscapes. This study sought to examine the impact of policy interventions on the development of rural e-commerce, seeking to determine whether rural e-commerce clusters form spontaneously. To achieve these goals, we combined statistical data, data from remote sensing techniques and geographic information system (GIS), and additional data collected through web scraping, employing a dynamic regression model based on the system generalized method of moments (GMM) to conduct the empirical analysis. The research findings indicate that policy interventions play a significantly positive role in promoting rural e-commerce development. Further, the mechanism analysis demonstrates that e-commerce policies have driven the increase in the number of enterprises in rural China, and the cluster of enterprises is key to the formation of Taobao villages. This empirical evidence provides reliable support for other developing countries seeking to effectively promote rural e-commerce development through national policies. [ABSTRACT FROM AUTHOR]

We use a set of lab-in-the-field experiments to study whether markets erode socially responsible behavior in a typical Sub-Saharan African country. In the first experiment, we randomly assign participants to a version of a game framed as a "market" context or as a "neutral" (non-market) context. Contrary to the prediction of pure self-interest theory, market participants exhibit considerable levels of socially responsible behavior. However, participants in the market context reveal a lower level of socially responsible behavior compared to the participants in the non-market contexts. We also report that punishment and religion play a significant role in promoting socially responsible behavior in markets. In a second experiment, we test whether the erosion of socially responsible behavior leads to anti-social behavior using the joy-of-destruction game. The results show that the erosion of socially responsible behavior triggers anti-social behavior. Finally, we look at welfare effects and find that our market baseline yields lower welfare compared to markets regulated by punishment mechanisms. [ABSTRACT FROM AUTHOR]

The expansion of markets has generated significant material benefits. Yet some worry that this increase in wealth has come at a significant moral cost. Markets may crowd out or even corrupt existing moral values, causing moral deterioration. We test this hypothesis using both fixed effects and matching methods to estimate the impact of market institutions on a society's moral values. Contrary to the deterioration hypothesis, we find that market-oriented societies have a greater aversion to unethical behavior, higher levels of trust, and are not significantly associated with lower levels of morality under any model specification. Furthermore, we find that becoming more market oriented does not cause a significant reduction in a society's moral values. Together, our results suggest that being or becoming more market oriented does not cause moral deterioration. [ABSTRACT FROM AUTHOR]

• Markets and market shaping are considered critical for transitions to unfold. • Conceptualization of markets in transition studies could be further developed. • The contributions use various theories, methods and contexts to study markets. • We propose a research agenda for future studies on markets in sustainability studies. • Markets and market shaping should be studied by taking a process perspective. If sustainability transitions research is to be relevant for upscaled diffusion of radical innovations and wide systemic socio-technical changes, then markets remain critical to account for. Founding frameworks in transition studies regard markets and market formation as important. Yet, the conceptualization of markets has so far not been elaborate: markets are mostly pictured as target areas for sustainable innovation and emphasis is on diffusion and user involvement. This special issue aims to unpack the notion of markets and market formation in sustainability transitions. The special issue contains in total 13 papers, which draw on theory from various scientific disciplines, use diverse research approaches, and cover a multitude of contexts. Altogether, the collection of papers stimulates broader theorizing of markets in sustainability transitions and the formulation of an agenda for future studies on markets in sustainability transitions. This editorial paper proposes relevant topics for such a research agenda. [ABSTRACT FROM AUTHOR]

We experimentally investigate reasons for opposing market institutions. The experiment shows that opposition to implementing market institutions varies by background characteristics and shows that distributional concerns are a reason for opposing trade institutions. We find no evidence that the opposition to trade is due to risk preferences or paternalistic motives. A main driver of the opposition to trade is the information about background conditions: veils of uncertainty increase the support for the trade institution. [ABSTRACT FROM AUTHOR]

For corporate green innovation, green credit (GC) policy has been increasingly crucial. However, technology spillover and market competitiveness in GC induced green innovation are unclear. We evaluate the influence and pathways of GC on corporate green innovation from both theoretical and empirical perspectives by developing a tripartite evolutionary game with banks, leaders, and followers, and meanwhile employing the difference-in-differences model. The tripartite evolutionary game demonstrates that the systematic equilibrium balance where banks issuing GC and leaders and followers engaging in green innovation will progressively be achieved. Empirical results are as follows. First, the GC indeed promotes corporate green innovation but primarily focuses on incremental innovation rather than radical innovation, indicating enterprises' strategic innovation to cater for GC. Second, whereas the positive impact of GC on incremental innovation is mediated by technology spillover, radical innovation is unaffected. However, the GC does not promote green innovation through market competitiveness. Finally, non-third-party-certified firms and large firms are more positively impacted by GC on incremental innovation. • We theoretically and empirically explore technology spillover and market competitiveness in GC induced corporate green innovation. • The GC promotes incremental innovation rather than radical innovation, indicating enterprises' strategic innovation. • The positive impact of GC on incremental innovation is mediated by technology spillover but radical innovation is unaffected. • The GC does not promote green innovation through market competitiveness. • Non-third-party-certified firms and state-owned firms are more positively impacted by GC. [ABSTRACT FROM AUTHOR]

In 2007 we published a paper on organ transplants that used data from 1990–2005. We proposed a radical solution of paying individuals to donate kidneys, and claimed that this would clean out the waiting list for kidney transplants in a short period of time. In this paper, we revisit the topic, and examine 14 years of additional data to see if anything fundamental has changed. We show that the main altruistic based policies implemented, such as kidney exchanges or opt out systems for organ procurement, have been unable to solve the problem of shortages. Our analysis suggests that, because of the reaction of direct living donors to increases in other sources of donations, the supply curve of kidney transplants is highly inelastic to altruistic policies. In contrast, a market in organs would eliminate organ shortages and thereby eliminate thousands of needless deaths. [ABSTRACT FROM AUTHOR]

The imposition of premium prices is one of the most influential barriers to sustainable food consumption. Yet studies of alternative food networks and sustainable consumption have paid sparse attention to how and why some customers overcome the price barrier. This article addresses this issue, posing the question: How do alternative foods become affordable to the customers purchasing them? The article draws on an extensive qualitative dataset that shows how the participants – suppliers, administrators, and customers – in Swedish REKO-rings , a direct-to-customer food market arrangement, co-construct alternative foods as affordable to customers. The study uses the sociology of markets and valuation studies to analyse how these market participants enable some economic comparisons but disqualify others. The findings suggest that they co-construct a distinct economic practice for their customers, called 'affordacity'. This practice treats liberal spending on alternative foods as the prudent use of money, while deeming spending on conventional foods as imprudent regardless of their prices. These findings complement existing scholarship on sustainable food consumption and alternative food networks. • Explains how people overcome the economic barrier of sustainable food consumption. • Draws on an original and substantive qualitative dataset from a direct-to-customer market. • 'Affordacity' – prudent but liberal spending – makes alternative foods affordable. • Sustainable consumption and AFN scholarship ought to further examine economic valuations. [ABSTRACT FROM AUTHOR]

Based on a mixed qualitative-quantitative method, this study explores consumer participation in the circular economy (CE) in France. A comprehensive framework of circular consumption helps understanding how circular consumption practices are performed. Qualitative findings reveal that formal schemes backed by Extended Producer Responsibility (EPR) regulation engage consumer in circular fostering consumption. However, quantitative results highlight that circular consumption in second hand circulation also follow informal paths, and can involve consumption slackening through repair and care for products. The study suggests to promote circular practices beyond formal schemes, consider incentives for secondhand purchases, and foster a culture of repair. Leveraging these opportunities can contribute to a comprehensive transition towards a circular economy in France. [ABSTRACT FROM AUTHOR]

Different seafood supply chain pathways contribute to or conversely detract from the resilience and adaptive capacity of the fishing sector. Direct seafood marketing strategies shorten the link between seafood harvesters and consumers. These strategies appear to be relatively resistant to systemic food system disruptions, making them a potentially important segment of a resilient food system providing benefits to consumers and harvesters. However, little is known about the scale and diversity of the direct seafood marketing sector in the United States. This paper outlines the advantages of collecting data on direct seafood marketing in the US. Additionally, we describe our methodology for creating a sampling frame of direct seafood marketers. We provide initial results from the first national assessment of direct seafood marketing practices, including results from a questionnaire distributed to 39,511 commercial seafood harvesters engaging in wild capture fisheries. Direct seafood marketing was a common strategy among respondents, and the most popular strategy involved selling to a source-identified distributor, i.e. intermediaries who identify the harvester at the point of sale. When combined with data on direct seafood marketing permits, it is estimated that 12% of US seafood harvesters engage in direct seafood sales. These findings suggest that direct marketing is a ubiquitous practice in the commercial fishing sector in the US. Understanding scale and diversity of direct seafood marketing in the US can provide information needed for targeted investments in policies, funding, and technical assistance programs that build diverse, resilient seafood supply chains, and benefit the fishing sector and food security of the nation. [ABSTRACT FROM AUTHOR]

• Market mechanisms are deemed central in developing and diffusing sustainable innovations. • We challenge the centrality of markets using the case of the System of Rice Intensification. • This innovation spread to millions of farmers worldwide without relying on market mechanisms. • Polanyi's distinction between markets, reciprocity, redistribution, and subsistence furthers our understanding of economic mechanisms in transitions beyond markets. • Market economies interact with other types of economies in ways that can either positively or negatively affect sustainability. It has been widely assumed that market mechanisms are central in incentivizing the development of sustainable innovations and that market formation is critical for the diffusion of innovations. We challenge the centrality of markets in understanding and promoting the development and diffusion of sustainable innovations using the case of the System of Rice Intensification. This innovation for sustainable rice cultivation was developed and diffused without relying on market mechanisms yet has been adopted by millions of farmers worldwide. To further our understanding of economic mechanisms beyond markets, we revisit Polanyi's distinction between markets, reciprocity, redistribution, and subsistence. This distinction helps to situate markets in a broader economic context and helps to understand how mechanisms for market exchange intersect with other types of economies in ways that can either positively or negatively affect sustainability. [ABSTRACT FROM AUTHOR]

• Builds an analysis of 'political crops' under contemporary capitalism. • Explains the political ecology of cotton and paddy in the Indian Punjab. • Focuses on labour relations and market structure of the two crops. • Analyzes the nature of change in agrarian capitalism in the Indian Punjab. Unlike the rest of the state of Punjab in India, cotton remained the dominant monsoon crop in the southwest region till the 1990s. As it has been increasingly replaced by paddy in recent decades, this paper asks what this shift in cropping pattern reflects about the state's agrarian capitalism. Towards an analysis of this question, it builds on James Scott's idea of 'political crops' in the earliest states and places it in conversation with scholarship in critical agrarian studies, political ecology and commodity studies to account for relations of power under contemporary capitalism. Drawing on intensive primary research in the region, the paper contrasts the power relations generated by the production and circulation of the two crops. It shows that larger farmers are more likely to cultivate paddy due to better access to irrigation, and that the shift to paddy is threatening to make redundant the labour of landless Dalit women, who do cotton-picking, and increasing dependence on migrant male labour for paddy-transplanting. It also demonstrates how the different end uses of the two crops and the predominance of the private sector in the cotton markets versus the hitherto state-led nature of the paddy markets produce differential risks for farmers and traders. The paper concludes by suggesting that the shift from cotton to paddy represents capital intensification in response to Punjab's mature capitalist conditions in agriculture but also results in new contradictions and axes of political struggle. [ABSTRACT FROM AUTHOR]

Where traffic is congested and all the curb spaces are occupied, some drivers are probably cruising for parking. Cities can eliminate this cruising by charging demand-based prices for curb parking to ensure one or two open spaces on every block. Drivers will then usually find convenient places to park within a short walk of their destinations. But if cities charge demand-based prices for curb parking, how will drivers choose where to park, and what will they pay? To answer these questions, I have examined how four variables—parking duration, number of persons in the car, walking speed, and value of saving time spent walking—determine parking choices when prices increase as drivers approach their destinations. Short-term parkers, carpools, slow walkers, and drivers with a high value of saving time will park closer to their destinations. Long-term parkers, solo drivers, fast walkers, and drivers with a low value of saving time will park farther away. This spontaneous, self-organizing pattern of parking choices responding to demand-based parking prices will minimize the collective cost of the time drivers spend walking to and from their destinations. Demand-priced curb parking will also reduce uncertainty about travel times. Drivers delayed by traffic congestion can save time at the end of their trips by paying a higher price to park closer to their destinations. Demand-priced curb parking at the end of a trip can serve as a buffer allowing late-arriving drivers to buy time when they need it most. [ABSTRACT FROM AUTHOR]

Current environmental crisis calls for new sustainable materials and products. Mycelium-based materials are grown by fungi onto solid ligno-cellulosic substrates and are promising sustainable materials which still face barriers to entry. This review discusses the challenges and prospects for making mycelium products. First, the technical challenges, properties needs and scientific knowledge gaps are reviewed. Then, methods to tailor the performance of mycelium-based materials are proposed, using synthetic or natural means. Living mycelium-based materials are also considered as an interesting alternative. The potential market opportunities for these products and their distribution are also discussed along with the public acceptance and perception. Overall, this paper complements current reviews on mycelium materials fabrication and properties by highlighting key gaps and challenges to address to allow these materials to enter the market. The paper suggests directions of future research and development for including mycelium-based products in daily life and improving the sustainability of the materials commonly used and their production. • One barrier to entry for mycelium products is their biodegradability. • Mycelium products could be made competitive thanks to their biodegradability. • Mycelium materials' properties can be tailored using synthetic or natural means. • Mycelium-based materials can also be used as living engineering materials. • Positive public perception could increase by adopting holistic views of the world. [ABSTRACT FROM AUTHOR]

In the context of the rapid development of financial figures, studying the effective mechanisms of macro-prudential policies are theoretically and practically significant. Here, we establish a revised Bordo and Jeanne model (Bordo and Jeanne, 2002) to theoretically verify whether implementation of macro-prudential policies can effectively inhibit the accumulation of financial risks. Subsequently, the China Financial Stress Index is constructed to measure systemic risk. Macro data from January 2009 to December 2022 were selected, and the non-linear relationship between macro-prudential policy tools and systemic risk in the digital finance context was analysed using principal component analysis and the Markov-switching vector autoregressive model. The analysis shows that development of digital finance exacerbates systemic financial risks, and strong regulations are more conducive to restraining systemic financial risk. Thus, development of digital finance significantly affects the impact of macro-prudential policy regulation. Further, this study provides policy suggestions for standardising development of the digital financial market, improving the systemic risk monitoring and evaluation system, optimising the macro-prudential policy mechanism, and strengthening coordination between macro policies. • This article mainly addresses the following two issues: first, how to construct monitoring indicators for macroeconomic prudential policy regulation? Secondly, what is the regulatory effect of China's macro prudential policy in the context of digital finance? Solving these two issues has important theoretical and practical significance for building a countercyclical financial macroprudential management system. • Here, we have established a modified Borde&Jeanne model (Borde&Jeanne, 2002) to theoretically verify whether the implementation of macroprudential policies can effectively curb the accumulation of financial risks. • Subsequently, principal component analysis was used to construct the China Financial Stress Index (FSI) as a measure of systemic risk. • Macro data from January 2009 to December 2022 were selected, and the MS-VAR model was used to analyze the nonlinear relationship between macro prudential policy tools and systemic risk in the context of digital finance. • Analysis shows that the development of digital finance exacerbates systemic financial risks, and strong regulatory conditions are more conducive to suppressing systemic financial risks. • In the context of digital finance, macro prudential policy tools can indeed affect the pro cyclical characteristics of commercial bank leverage ratios, reduce the vulnerability level and systemic risk of the financial system. • On the one hand, the central bank can reduce the credit supply capacity of commercial banks and effectively suppress the rise of stock prices and housing prices by reducing credit scale, increasing reserve ratio, and provision coverage. • On the other hand, the central bank controls the upper limit of the loan to value ratio (LTV), reduces the borrowing amount of borrowers, and effectively reduces credit growth by leveraging the leverage effect of collateral, smoothing out the credit cycle. • Therefore, the development of digital finance significantly affects the effectiveness of macroeconomic prudential policy regulation. • Furthermore, this article provides policy recommendations from the aspects of regulating the development of digital financial markets, improving systematic risk monitoring and evaluation systems, optimizing macro prudential policy mechanisms, and strengthening coordination and cooperation between macro policies. [ABSTRACT FROM AUTHOR]

This study explores promotional strategies in English and Chinese introductions and discussion/conclusion sections of applied linguistics (AL) research articles (RAs). Based on genre analysis, a more comprehensive and fine-grained taxonomy of promotional strategies was developed for the two RA part-genres that show a symmetrical relationship in terms of their promotional moves. A higher degree of promotion is detected in our corpus, which may be due to the increasing marketization of academia and the nature of AL. Regarding the cross-cultural variations, it is found that English texts are more promotional than Chinese ones. In the introduction, Chinese writers tend to rely heavily on the top three most frequent promotional strategies in our corpus, while English writers are inclined to justify and reinforce the significance of the research topic or claims, demonstrating a strong argumentation pattern. In the discussion/conclusion section, Chinese writers are more likely to summarize and explain their research results whereas English writers show a preference for evaluation of their research findings. Competitive research/publication contexts, national culture, audience, and disciplinary writing conventions might contribute to such differences. The findings and discussion through the lens of interdiscursivity and intercultural rhetoric have implications for EAL/ESL academic writing research and pedagogy. • A comprehensive and fine-grained taxonomy of promotional strategies was created. • Chinese writers in RADCs prefer to summarize and explain their research results. • English writers are inclined to justify and reinforce their research significance. • RADCs are symmetrical to RAIs in terms of their promotional move pattern. • Cross-cultural variations should be explicated by considering both big and small cultures. [ABSTRACT FROM AUTHOR]

The present study analyzed the content of total mercury (THg) and selenium (Se) in the muscle of shrimp collected from local markets in the 11 Pacific coastal states of Mexico. Methylmercury (MeHg) concentration, Se:Hg ratio, health benefits value from selenium consumption (HBV Se) and the permissible weekly consumption were estimated to assess the health risk to consumers. All THg and Se concentrations were below the maximum permissible limits. All hazard quotient (HQ) values were <1, however in Hermosillo, Culiacán and Guadalajara, the Se:Hg ratio and HBV Se were <1 and negative, due to the low concentrations of Se. As a general conclusion, there is no risk nor benefit from the consumption of shrimp from the Pacific coast of Mexico due to its Hg and Se content. • Hg and Se content was evaluated in shrimp from markets along Mexican Pacific coast. • All hazard quotient (HQ) values of samples analyzed were <1. • In some markets the selenium-benefit values for shrimp samples were negative. [ABSTRACT FROM AUTHOR]

Background Food systems are increasingly recognized as critical for advancing nutrition, and the food environment is viewed as the nexus between those systems and dietary consumption. Developing a measurement framework of the market food environment is a research priority, particularly for low- and middle-income countries (LMICs), which face rapid shifts in markets, dietary patterns, and nutrition outcomes. Objectives In this study, we sought to assess current conceptions and measures of the market food environment that could be adapted for use in LMICs. Methods We conducted a narrative review of the literature to identify measures of the market food environment in recent use. First, we identified and reviewed frameworks of the food environment for LMICs with a specific focus on the market food environment. Second, we compiled 141 unique measures of the market food environment from 20 articles into a list that was pile-sorted by 5 nutrition experts into domains. We then categorized the measures based on percentage agreement across all sorts. Finally, we compared measured and conceptual domains of the market food environment to identify measurement gaps and needed adaptations. Results Conceptual frameworks provide differing definitions of the market food environment but conform in their definitions of food availability, price, marketing, and product characteristics. Greater clarity is needed in defining relevant vendor and product characteristics. Eight measured domains of the market food environment emerged from the literature review, with significant overlap among conceptual domains. Measurement gaps exist for food quality, safety, packaging, desirability, and convenience. Personal characteristics also emerged as measured domains, although these are not part of the food environment per se. Conclusions These results are a step toward elucidating how, why, and where we measure the market food environment in LMICs. Future research should focus on prioritizing the most meaningful methods and metrics and on developing new measures where gaps exist. [ABSTRACT FROM AUTHOR]

Small and medium enterprises (SMEs) must continue to combine technology and market adaptation or open innovation to sustain their business. One of these ways is to promote their products and services extensively. This study investigated the best media to promote SMEs in the local agricultural markets of Hungary. This study uses an approach of asking consumers where they receive information about SMEs and their determinants. Research questionnaires were distributed to 156 consumers who purchased agricultural products on the Budapest Central Market Hall. The data were analyzed using a binary logistic model. The studies showed that consumers obtain market information through word-of-mouth and digital media. Older consumers tend to receive information through word-of-mouth, while consumers who rarely interact with others or who are educated or foreign choose digital media. Therefore, SMEs in Hungary's local agricultural markets have yet to focus on developing promotional activities through these two media. For the future, recommendations are given to SMEs in Hungary to maintain the quality of products and services and to develop two-way communication in digital media (e-WOM). [ABSTRACT FROM AUTHOR]

• We introduce a design problemof the monopsony taxi owner that considers the supply of rentee-drivers. • We propose a new profit-maximization modeling framework for the monopsony taxi owner. • We provide analytical properties of the proposed model for both regulated and unregulated markets. • We propose a welfare-maximization model for the government to implement rent control. • We give new insights and findings to help the government regulate taxi markets. Taxis offer round-the-clock, comfortable, and direct transportation services. In many cities, a large number (or all) of taxi drivers are rentee-drivers who rent taxis from taxi owners. Therefore, interaction exists between taxi owners and rentee-drivers. To regulate taxi markets effectively, it is necessary to model such interaction and investigate how different regulatory regimes affect stakeholders in taxi markets (e.g., taxi owners, rentee-drivers, and customers) and system performance (social welfare) in the presence of such an interaction. This study extends the classical aggregate taxi model to describe the supply of rentee-drivers and their interaction with a monopsony taxi owner. A general supply function is proposed to describe the supply of rentee-drivers in the market. A profit-maximization model and a social welfare maximization model are proposed to describe the decision-making process of the monopsonist and the government, respectively. Analytical and numerical studies are given to illustrate the properties of the proposed models and investigate the effects of fare adjustments and taxi rent/fleet size regulations on the monopsonist, rentee-drivers, customers, and system performance, thereby providing insights into taxi market regulations. [ABSTRACT FROM AUTHOR]

• Hume makes mutual advantage the basis of social contracts. • Hume understands markets and systems of justice as coevolving. • Hume anticipates current institutional analyses of markets. • Hume can use hypothetical contractarian methods to evaluate markets. I propose that Hume understands a market as a coordination regime where exchange is supported by moral rules traders must follow. For Hume a complete description of a market includes the institutions that support honest trade, institutions that come at a cost for the market traders. Hume's conception of a market is a special case of his conventionalist contractarianism, where a social contract is based upon a mutual advantage criterion requiring that all bound by the terms of this contract recognize that one serves one's own interests by abiding by its terms given that the others also abide by its terms. I discuss the contrasting position of David Gauthier, who argues that an ideally competitive market is a morally free zone and who uses such a market as a starting point for his rational choice-based contractarian theory. While Hume's view of a market as a coordination regime reflects actual markets more realistically than Gauthier's view, I argue that Hume can employ an isomorphism argument structurally similar to an isomorphism argument I attribute to Gauthier for the purposes of giving a normative analysis of a market. [ABSTRACT FROM AUTHOR]

Violence influences the productive activity of rural producers. One of the effects of violence is the disruption of the relationships between rural producers and the market, because violent actors attempt to control the interactions, the transportation, and the flow of products. In this study we investigate how rural producers interact with the market in a violent context. With this purpose we define integration into the market as the establishment of strong and long-term exchange relations with other market agents. In contrast to other approaches to understand the interactions with the market, this definition focuses on the established relationship instead of its inputs or outputs. We analyze the roles of both relational capital and meso-organizations' programs in the process of integration of rural producers into the market in a violent context. We find that some forms of relational capital strongly relate to the rural producers' ability to establish those exchange relations. Additional to this direct effect, there is an indirect effect when rural producers participate in meso-organization programs that focus on improving internal productive capacities and on facilitating connections with agents from outside their communities. Programs that provide subsidies and credit have no effect on integration into the market. • Integration into the market positively relates to relational capital beyond the close community. • Rural producers' relational capital favors meso-organization programs. • Programs focused on long-term benefits favor integration into the market. • Programs focused on financial support do not favor integration into the market. • Communitarian insecurity is strongly related to integration into the market. [ABSTRACT FROM AUTHOR]

• Proposes a model to characterize the equilibrium in on-demand ride-sourcing market. • Identifies monopoly and social optimums of non-pooling and ride-pooling markets. • Monopoly optimum, social optimum and second-best solutions in both ride-pooling and non-pooling markets are always in a normal regime rather than the wild goose chase regime. • Monopoly optimum, social optimum and second-best solution trip fares in a ride-pooling market are lower than that in a non-pooling market under certain conditions. • A unit decrease in trip fare in a ride-pooling market attracts more passengers due to a reduced actual detour time. With the recent rapid growth of technology-enabled mobility services, ride-sourcing platforms, such as Uber and DiDi, have launched commercial on-demand ride-pooling programs that allow drivers to serve more than one passenger request in each ride. Without requiring the prearrangement of trip schedules, these programs match on-demand passenger requests with vehicles that have vacant seats. Ride-pooling programs are expected to offer benefits for both individual passengers in the form of cost savings and for society in the form of traffic alleviation and emission reduction. In addition to some exogenous variables and environments for ride-sourcing market, such as city size and population density, three key decisions govern a platform's efficiency for ride-pooling services: trip fare, vehicle fleet size, and allowable detour time. An appropriate discounted fare attracts an adequate number of passengers for ride-pooling, and thus increases the successful pairing rate, while an appropriate allowable detour time prevents passengers from giving up ride-pooling service. This paper develops a mathematical model to elucidate the complex relationships between the variables and decisions involved in a ride-pooling market. We find that the monopoly optimum, social optimum and second-best solutions in both ride-pooling and non-pooling markets are always in a normal regime rather than the wild goose chase (WGC) regime—an inefficient equilibrium in which drivers spend substantial time on picking up passengers. Besides, in general, a unit decrease in trip fare in a ride-pooling market attracts more passengers than would a non-pooling market, because it not only directly increases passenger demand due to the negative price elasticity, but also reduces actual detour time, which in turn indirectly increases ride-pooling passenger demand. As a result, we prove that monopoly optimum, social optimum and second-best solution trip fares in a ride-pooling market are lower than that in a non-pooling market under certain conditions. These theoretical findings are further verified by a set of numerical studies. [ABSTRACT FROM AUTHOR]

Many countries have opened their health care markets to private for-profit providers, aiming to promote quality and choice for patients. The prices are regulated and providers compete in location and quality. We show that whereas opening a public hospital market typically raises quality, the private provider strategically locates towards the corner of the market to avoid costly quality competition. Social welfare depends on the size of the regulator's budget and on the altruism of the public provider. If the budget is large, high quality results and welfare is highest in a duopoly whenever entry is optimal. If the budget is small, quality levels in a duopoly mirror the quality level in a monopoly. It can be optimal for the regulator not to use the full budget. [ABSTRACT FROM AUTHOR]

• This paper outlines a conceptual framework that describes the shaping of sustainable markets. • The framework comprises three market-shaping processes: enabling exchange practices, proving the system and constructing the narrative. • The framework is illustrated with a case analysis of market-shaping processes for biogas in Sweden. • The case analysis shows how public and private actors have engaged in a multitude of activities in the market-shaping processes. • The recursive nature of sustainable market-shaping is highlighted. By merging findings from transition studies with recent literature on market-shaping, this paper outlines a conceptual framework that describes the shaping of sustainable markets. The framework comprises three critical processes: enabling exchange practices, proving the system and constructing the narrative. Individually, these processes generate different kinds of value – traded, demonstrated and expected value – and the value output from each process serves as input to the other two processes. Hence the value streams link the processes together. We illustrate the framework by analyzing market-shaping processes for biogas in Sweden. The case analysis shows how public and private actors have engaged in a multitude of activities that have built up the market-shaping processes. The analysis highlights the recursive nature of sustainable market-shaping, showing how key actors must repeatedly respond to tensions resulting from growth and aspirations of growth. [ABSTRACT FROM AUTHOR]

Institutional change and diversity have been two major topics of debate in contemporary social sciences. At the core of this debate are actors' skills to manage the institutional frame that defines limits and possibilities for their strategies. This article analyses how social movements produce institutional change and diversity in the organic food market. It contrasts the experiences of Participatory Guarantee Systems created by Nature & Progrès (France) and Ecovida Agroecology Network (Brazil) to reframe the institutional order of the organic market. Results demonstrate that, while the conventional third-party certification remains the dominant institutional frame, there is space for competing schemes. However, the relevance of the alternatives depends both on the characteristics of the institutional order historically shaped in each context, and on the skills social movements possess to face the interests of the dominant actors. In this way, the article demonstrates that, in comparison to Nature & Progrès, Ecovida has been a more skillful movement because of its closer connection with other social movements and state actors, compelling Brazil to produce an institutional frame more open to diversity than that found in France. • Social movements are prominent actors in the social and political construction of alternative organic food markets. • Their repertoires of contention embrace innovative institutional devices such as Participatory Guarantee Systems (PGS). • PGS importance to shape alternative markets depends on the social movements' political-interactional skills. • Nature & Progrès demonstrates limited skills to defy the conventionalization and build alternative markets. • Ecovida is a skillful movement because of its closer connection with other social movements and state actors. [ABSTRACT FROM AUTHOR]

Under spatial product differentiation and product design, we identify conditions for either excessive or insufficient firm entry. We extend previous settings, based on the Salop circular model, to analyze the combined role of positive demand elasticity and endogenous targeted product design. First, we show that, given the number of firms, the equilibrium level of targeted design is either excessive or insufficient, depending on demand elasticity. Second, with free entry, we show that the degree of targeted product design increases with the relative market size and decreases with demand elasticity. Based on these effects, the interplay between demand elasticity and market size yields novel welfare results. In particular, we show that excessive entry always occurs for small demand elasticities but, for large demand elasticities, market size matters: entry is insufficient in small and large market sizes, but it is excessive in intermediate market sizes. • Targeted design and demand elasticity are considered in the Salop circular model. • Novel results arise on the issue of the excessive versus insufficient entry in spatial models. • Entry is always excessive with small demand elasticities. • With large demand elasticities, entry is excessive for intermediate market sizes. [ABSTRACT FROM AUTHOR]

We show that Bertrand competition arises in equilibrium in the downstream market of a vertically related industry with bottleneck. The upstream monopolist offers fixed fee discounts to the downstream firms in order to motivate them to set prices , instead of quantities, in the final good market. This is in sharp contrast with the bulk of the literature in which Cournot competition is the equilibrium mode of competition. Bertrand competition is beneficial for all firms, but not for consumers and the society. • We consider a vertically related industry with upstream bottleneck. • The upstream supplier trades with the downstream firms via three part tariff contracts. • The upstream supplier motivates downstream firms to offer price instead of quantity contracts to final consumers via fixed fee discounts. • Bertrand competition arises as the equilibrium mode of competition. • Firms are better-off, but consumers and the society as a whole are worse-off. [ABSTRACT FROM AUTHOR]

• Present MPC formulation to capture short-term markets and long-term degradation. • Formulation incorporates first-principles models and high temporal resolutions. • Formulation can properly trade-off short-term and long-term effects. We propose a multiscale model predictive control (MPC) framework for stationary battery systems that exploits high-fidelity models to trade-off short-term economic incentives provided by energy and frequency regulation (FR) markets and long-term degradation effects. We find that the MPC framework can drastically reduce long-term degradation while properly responding to FR and energy market signals (compared to MPC formulations that use low-fidelity models). Our results also provide evidence that sophisticated battery models can be embedded within closed-loop MPC simulations by using modern nonlinear programming solvers (we provide an efficient and easy-to-use implementation in Julia). We use insights obtained with our simulations to design a low-complexity MPC formulation that matches the behavior obtained with high-fidelity models. This is done by designing a suitable terminal penalty term that implicitly captures long-term degradation. The results suggest that complex degradation behavior can be accounted for in low-complexity MPC formulations by properly designing the cost function. We believe that our proof-of-concept results can be of industrial relevance, as battery vendors are seeking to participate in fast-changing electricity markets while maintaining asset integrity. [ABSTRACT FROM AUTHOR]

Peasants had an important role as poultry keepers in late medieval England. Literary sources and administrative documents show that many rural households provided themselves with at least a cock and between 5 and 7 hens. These birds contributed to the subsistence of the household mainly with eggs which supplemented the mainly cereal diet. Occasionally a fowl was eaten for a special meal. A minority of producers maintained a dozen or more fowls, or they kept a flock of geese, capable of yielding a useful income from the market. A few peasants profited from dovecots. Peasant surpluses of birds and eggs were sometimes sold through poulterers who coordinated the trade, supplying the needs of townspeople and the households of the wealthy. Poultry occupied a special place in peasant culture. [ABSTRACT FROM AUTHOR]

• A dynamic and aggregated non-equilibrium ride-sourcing model is developed to track the time-varying number of riders, vacant and occupied ride-sourcing vehicles. • The drivers are modeled as earning-sensitive, independent contractor, and self-scheduling and the riders are considered price- and quality of service-sensitive. • Supply and demand of the ride-sourcing market are endogenously modeled based on the fare requested from the riders and the wage paid to the drivers and the rider's waiting time and driver's cruising time. • A controller based on the MPC approach is proposed to dynamically control the fare and the wage. The MPC framework consists of two different models for plant and optimization. • The proposed model and controller enable the ride-sourcing provider to offer a wage to the drivers that is higher than the charged fare from the riders such that the overall profit is maximized. Ride-sourcing is a prominent transportation mode because of its cost-effectiveness and convenience. It provides an on-demand mobility platform that acts as a two-sided market by matching riders with drivers. The conventional models of ride-sourcing systems are equilibrium-based, discrete, and suitable for strategic decisions. This steady-state approach is not suitable for operational decision-making where there is noticeable variation in the state of the system, denying the market enough time to balance back into equilibrium. We introduce a dynamic non-equilibrium ride-sourcing model that tracks the time-varying number of riders, vacant ride-sourcing vehicles, and occupied ride-sourcing vehicles. The drivers are modeled as earning-sensitive, independent contractor, and self-scheduling and the riders are considered price- and quality of service-sensitive such that the supply and demand of the ride-sourcing market are endogenously dependent on (i) the fare requested from the riders and the wage paid to the drivers and (ii) the rider's waiting time and driver's cruising time. The model enables investigating how the dynamic wage and fare set by the ride-sourcing service provider affect supply, demand, and states of the market such as average waiting and search time especially when drivers can freely choose their work shifts. Furthermore, we propose a controller based on the model predictive control approach to maximize the service provider's profit by controlling the fare requested from riders and the wage offered to drivers to satisfy a certain quality of market performance. We assess three pricing strategies where the fare and wage are (i) time-varying and unconstrained, (ii) time-varying and constrained so that the fare is higher than the wage such that the instantaneous profit is positive, and (iii) time-invariant and fixed. The proposed model and controller enable the ride-sourcing service provider to offer a wage to the drivers that is higher than the fare requested from the riders. The result demonstrates that this myopic loss can potentially lead to higher overall profit when customer demand (i.e., riders who may opt to use the ride-sourcing system) increases while the supply of ride-sourcing vehicles decreases simultaneously. [ABSTRACT FROM AUTHOR]

• Liberalizations in the EU have increased the market share of rail freight services. • Having more than one competitor in the market positively impacts on modal shift. • Nevertheless, this impact is modest and, anyway, lower than initial expectations. • Policy measures such as road-charging schemes can better contribute to modal shift. [ABSTRACT FROM AUTHOR]

We study super-replication of contingent claims in markets with delayed filtration. The first result in this paper reveals that in the Black–Scholes model with constant delay the super-replication price is prohibitively costly and leads to trivial buy-and-hold strategies. Our second result says that the scaling limit of super-replication prices for binomial models with a fixed number of times of delay H is equal to the G -expectation with volatility uncertainty interval [ 0 , σ H + 1 ]. [ABSTRACT FROM AUTHOR]

Over 1 GW of distributed wind has been installed across all 50 states, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands. Yet the number of installations varies greatly by state, even when wind resources are similar. This article presents the results of a county-by-county study of markets for distributed wind in the contiguous United States that culminates with a figure that represents the relative strength of markets across the United States based on a composite assessment of 1) policy environments , including incentives, and interconnection, net metering, and permitting policies; 2) electricity prices , and 3) wind resources. The number of megawatts of installed distributed wind is superimposed on the combined figure, in most cases confirming the influence of these market factors. This analysis identified Indiana, Michigan, Pennsylvania, Maine, eastern Colorado, western Kansas, and northern New Mexico as areas that have untapped economic distributed wind potential. Specific policy, electricity price, and wind resource examples are provided from Iowa, New York, Washington, Oregon, and California. • A county-by-county geographic information system map of the U.S. showing important distributed wind market factors. • Summary of areas with potential additional development opportunities. • Examples from select states of policy, electricity rates, and wind resource market factors. [ABSTRACT FROM AUTHOR]

In this paper, we investigate the contracting behaviour of participants in the spot freight market for tankers by analysing the positioning of vessels at the time of fixture. For that purpose, we create a new dataset obtained by merging spatial ship positions, commercial fixtures and technical vessel specifications. Using quantile and quantile fixed effect regressions, we show how market conditions, vessel characteristics and charterers' preferences affect the fixture location. Our main result is that oil buyers secure tonnage earlier during strong tanker markets and that the geography of trade creates natural decision points that dominate in the spatial distribution of fixtures. [ABSTRACT FROM AUTHOR]

• Meritocracy cannot justify market inequalities. • Luck and power are unavoidable elements of market remuneration. • The fairness of market distributions depends on the fairness of property rights. Justifications of market inequalities can appeal to several values. The main ones include efficiency, freedom, and meritocracy. This article focuses on meritocracy and highlights three limits of the meritocratic justification of market inequalities. First, markets cannot be meritocratic: if we abandon the simple economies of independent producers and homogeneous goods, market competition is inevitably lacking, giving rise to non-meritocratic rents. Second, market evaluations of merit present some ethical shortcomings, even if competition could unleash. Third, rewarding merit, no matter where this principle is applied, underrates the element of luck that is present in the individual merit as well as some undesirable consequences of meritocratic rewards. Acknowledging these limits does not deny that merit may have some role in justifying market inequalities. It means, however, to abandon the meritocratic justification. [ABSTRACT FROM AUTHOR]

Eden, Feige, and Feldman explored the concept of the max-min greedy matching problem, which can be conceived as a game played between an algorithm and an adversary. Both parties are presented with a bipartite graph consisting of items and players. Initially, the algorithm selects a priority order for the items, while the adversary, in turn, chooses a priority order for the players based on the algorithm's choice. These priority orders are then utilized in a greedy process to establish a matching between the items and players. During the process, when it is a player's turn, they select the highest priority item from their remaining available neighbors. The objective of the algorithm is to maximize the size of the resulting matching, while the adversary's goal is to minimize its size. Previous studies have demonstrated that the algorithm can employ a polynomial-time strategy to achieve a competitive ratio greater than 1 2. In this research, we present evidence that, from the adversary's standpoint, approximating the adversarial order minimum matching problem with a ratio better than 6 5 is NP-hard, assuming the small set expansion (SSE) hypothesis. Conversely, we introduce a fractional variant of the problem and analyze the interaction between the algorithm and the adversary when either or both parties are allowed to utilize fractional permutations. Notably, we discover that if the algorithm solely employs integral item permutations, then an optimal response from the adversary can also involve integral player permutations. Additionally, we establish that, in the fractional variant, the algorithm can adopt a round-robin strategy to achieve a competitive ratio of at least 1 − 1 / e for input graphs with a sufficiently large granularity parameter m. Furthermore, we demonstrate that the analysis for the round-robin strategy is tight even for regular graphs. [ABSTRACT FROM AUTHOR]

The present article investigates whether the different ownership structures in the non-finance sector impact the Environmental, Social, and Governance scores (ESG). Panel data regression has been used for analyzing the publicly listed 500 listed companies on National Stock Exchange (NSE), India, excluding the banking and financial services sector from 2015 to 2020. The variables used are size, age, leverage, cost of debt, number of independent directors, number of women on board, market capitalization, interest coverage ratio, Government Ownership, and Private Ownership. Results reflected that government ownership had a positive and significant impact on the ESG scores of the companies, whereas there is an insignificant relationship with privately-owned companies. The study will be helpful for academicians to gain insight into the relationship between ownership structures and ESG scores. [Display omitted] • Panel data regression has been used for analyzing the publicly listed 500 listed companies on National Stock Exchange, India, excluding the banking and financial services sector from 2015 to 2020. • The variables used are size, age, leverage, cost of debt, Government Ownership, and Private Ownership. • Results reflected that government ownership had a positive and significant impact on the ESG scores of the companies, whereas there is an insignificant relationship with privately-owned companies. [ABSTRACT FROM AUTHOR]

This paper studies how altruistic preferences are changed by markets and incentives. We conduct a laboratory experiment with a within-subject design. Subjects are asked to choose health care qualities for hypothetical patients in monopoly, duopoly, and quadropoly. Prices, costs, and patient benefits are experimental incentive parameters. In monopoly, subjects choose quality by trading off between profits and altruistic patient benefits. In duopoly and quadropoly, subjects play a simultaneous-move game. Uncertain about an opponent's altruism, each subject competes for patients by choosing qualities. Bayes-Nash equilibria describe subjects' quality decisions as functions of altruism. Using a nonparametric method, we estimate the population altruism distributions from Bayes-Nash equilibrium qualities in different markets and incentive configurations. Competition tends to reduce altruism, but duopoly and quadropoly equilibrium qualities are much higher than monopoly. Although markets crowd out altruism, the disciplinary powers of market competition are stronger. Counterfactuals confirm markets change preferences. [ABSTRACT FROM AUTHOR]

This paper combines complementary attributes of web and general population surveys to estimate cannabis consumption and spending in Washington State. It compares those estimates to legal sales recorded by the state's seed-to-sale tracking system, and thus exploits a rare opportunity to contrast two independent estimates for the same cannabis market. This sheds light on the question of whether nontrivial amounts of black market sales continue even after a state allows licensed production and sale. Prevalence of past-month use is estimated from the 2015/16 U.S. National Survey on Drug Use and Health, adjusted for under-reporting. Estimates of consumption and spending per user broken down by age, gender, and frequency of use are developed from RAND's 2013 survey of cannabis users in Washington State. Supply side estimates come from the Washington State Liquor and Cannabis Board's seed-to-sale tracking system. They are expressed in terms of spending, equivalent-weight of flowers, and THC, with THC for edibles imputed using a machine learning technique called random forests. For the period July 1, 2016 to June 30, 2017, Washington's seed-to-sale data record sales from licensed cannabis stores of $1.17B and across all products an amount of THC that is equivalent to roughly 120–150 MT of flower. Survey responses suggest that amounts spent and quantities consumed are larger than that, perhaps on the order of $1.66B and over 200 MT, respectively. A perfect match is not expected because of sales to tourists, residual black market activity, production for medical purposes, and diversion across state lines. Nonetheless, the results suggest that three years after state-licensed stores opened, there remained considerable consumption of cannabis supplied outside of the licensed system. [ABSTRACT FROM AUTHOR]

We analyze the value of foresight in the drybulk freight market when repositioning a vessel through space and time. In order to do that, we apply an optimization model on a network with dynamic regional freight rate differences and stochastic travel times. We evaluate the value of the geographical switching option for three cases: the upper bound based on having perfect foresight, the baseline set by a random strategy, and the case of perfect foresight but only for a limited time horizon. By combining a neural network with optimization, we can assess the impact of varying foresight horizons on economic performance. In a simple but realistic two-region case, we evaluate empirically that the upper bound for large vessels can be as high as 25% cumulative outperformance, and that a significant portion of this theoretical value can be captured with limited foresight of a few weeks. Our research sheds light on the important issue of spatial efficiency in global ocean freight markets and provides a useful upper bound for the value of investing in predictive analysis. [ABSTRACT FROM AUTHOR]

This paper investigates the volatility spillover effects and dynamic correlations between China's emissions allowances and fossil energy markets by employing the dynamic conditional correlation (DCC) generalized autoregressive conditional heteroscedasticity (GARCH) model. Thermal coal futures, South Sea crude oil and liquefied natural gas markets confirm short-term and long-term persistence on the Beijing, Shanghai, Guangdong and Shenzhen emissions allowances pilots, while those fossil energy markets demonstrate long-term persistence on Hubei's emissions allowances pilot. The dynamic correlations between fossil energy and regional emissions allowance markets exhibit slight time-varying trends, and their dynamic correlations are at lower levels in the period considered. The prohibition of cross-region emissions allowance flow, inefficient dynamic linkage and poor price pass-through between the two markets may result in lower volatility spillover effects and dynamic correlations. • This paper examines the volatility spillover effects between two markets. • Energy markets have volatility spillover effects on emission pilots except HBEA. • Energy markets demonstrate long-term persistence on Hubei emission pilot. • Dynamic correlations for energy and emission price confirm time-varying trend. • Dynamic correlations of energy-emission markets exhibit regional differences. [ABSTRACT FROM AUTHOR]

Along the last century there has been an unprecedented growth in both global food production and related socioecological impacts. The objective of this paper is to analyse the effects of long-term metabolic patterns of agrarian systems on land use and cover changes (LUCC). We have developed an Energy-Landscape Integrated Analysis (ELIA) of agroecosystems to measure the energy storage (E) and the information (I) represented by the complexity of internal energy cycles, in order to correlate both with the energy imprint in the landscape functional-structure (L) that sustains biodiversity. ELIA values are used to assess the agro-ecological landscape transitions in different case studies analysed in North America (Canada and USA) and Europe (Austria and Spain), demonstrating their sensitivity and robustness for case study comparisons on farm-driven environmental change. The results show two stages of the socio-metabolic transition: a first period (from 1830 to 1956) characterized by a non-significant decrease in energy reinvestment (E) and a decrease in energy redistribution (I); and a second period (from 1956 to 2000) with a significant loss of E·I optimal values and associated landscape patterns (L). To overcome the socioecological degradation that these trends implied requires a low external input strategy based on an innovative enhancement of cultural knowledge kept by rural populations, which may help to empower farm communities in the markets and in the public arena. Further research could help to reveal how and why different strategies of agroecosystem management lead to key turning points in the relationship between energy flows, landscape functioning and biodiversity. This research will be very useful for public policies aimed to promote more climate and socioecological resilience of agricultural landscapes and food systems worldwide. Unlabelled Image • An Energy-Landscape Integrated Analysis (ELIA) of agroecosystems is proposed. • ELIA relies on the complexity of internal energy cycles and land-use heterogeneity. • ELIA measures the energy reinvested, redistributed and imprinted in the landscape. • ELIA is used to assess long-term socioecological transitions in western agriculture. • Results recommend a low external inputs strategy for agroecosystems. [ABSTRACT FROM AUTHOR]

Previous studies report a robust positive relationship between cash endowments and asset prices in experimental asset markets. Higher cash endowments generally increase the proportion of riskless versus risky wealth at the individual and aggregate level as well as the capacity of market participants to seize investment opportunities, i.e., their transactional liquidity. In this study, we vary the size and composition of riskless endowments in order to analyze the impact of different types of "cash" on trading behavior in experimental asset markets with randomly fluctuating fundamental values. In all treatments except the baseline, we allow subjects to control the liquidity of their cash endowment endogenously by providing some proportion of their riskless endowment in a physical store of value, which can be converted into experimental currency for trading. We observe that most subjects retain a large proportion of their wealth in the physical store of value. Inconsistent with rational choice theory, average trading prices and trading volumes are lower when "cash" is provided in a convertible store of value rather than experimental currency. Surprisingly, the price effect manifests asymmetrically on the buy side but not the sell side. Moreover, we control for potential changes in risk appetite resulting from higher riskless endowments. Our results suggest that transactional liquidity not a risky demand shift drives the relationship between cash endowments and asset prices. [ABSTRACT FROM AUTHOR]

The fast-growing light-duty plug-in electric vehicle (PEV) market in China has important implications for both the global vehicle market and energy policies. From the perspective of demand pull-supply push, this study examines China's PEV market by reviewing sales, product performance, and government policies from the last decade; and by comparing it with the market in the United States, the study attempts to generate market dynamics insights to the Chinese PEV market. On the demand side, inexpensive, small-sized PEVs have contributed the most to the recent rapid increase in sales, but this trend is diminishing. The majority of Chinese PEV sales in recent years occurred in economically prosperous regions or cities that are able to supply lucrative monetary incentives and otherwise PEV purchasing and driving privileges to consumers. On the supply side, expansion of the PEV market, incentivized by government policies, enable young, privately-owned automakers to compete with the established automakers. Overall, the PEV market concentration ratio is still small: hundreds of PEV models and new PEV automakers are competing in China; but when it comes to some major local markets, PEV sales are commonly dominated by the local automakers. In the U.S. market, except for Tesla, the vast majority of PEV models are manufactured by established manufacturers of conventional vehicles. Demand-pull policies (e.g. direct monetary purchase incentives) are being transitioned to supply-push policies (e.g. special fuel economy credits for PEVs and PEV sales mandate) which will be major government measures to further stimulate PEV sales with less fiscal burden. • Generally, PEVs in China is less expensive than the in the U.S. • Inexpensive, small-sized cars are major contributors to current PEV sales. • Large-sized PEV, like SUV, with electric range over 300 km will be more popular. • Top-tier conventional automakers in China are relatively less proactive currently. • The Chinese policy strategy has transitioned to a supply-push approach. [ABSTRACT FROM AUTHOR]

• We present a novel method for determining the capacity value of load-shifting demand response. • We use equilibrium models to consider the impact of demand response in capacity markets. • Demand response impacts on electricity markets through its inherent capacity value. • Demand response can mitigate against the negative effects associated with wind energy. Demand Response is capable of reducing the total amount of generation capacity investment required to ensure electricity system security. We utilise this fact to devise a novel methodology to estimate the contribution of a load-shifting demand response resource to system adequacy. We then simulate an electricity market using mixed complementarity models to determine how the participation of demand response in capacity markets impacts on market outcomes. Demand response primarily affects the equilibrium outcome through the energy market, however demand response also reduces both equilibrium prices and consumer costs through its capacity market contribution. The effect is particularly pronounced when there is a high level of variable renewable generation and initial undercapacity. In the absence of demand response, increased wind generation leads to higher capacity prices as generators seek to offset depressed energy prices. However, we find that demand response's participation in the capacity market can combat these increased capacity prices. These results suggest that demand response participation in capacity markets can mitigate some of the market challenges of renewable integration, particularly that of the "missing money" problem. [ABSTRACT FROM AUTHOR]

We propose a coordination framework for managing urban and rural organic waste in a scalable manner by orchestrating waste exchange, transportation, and transformation into value-added products. The framework is inspired by coordinated management systems that are currently used to operate power grids across the world and that have been instrumental in achieving high levels of efficiency and technological innovation. In the proposed framework, suppliers and consumers of waste and derived products as well as transportation and technology providers bid into a coordination system that is operated by an independent system operator. Allocations and prices for waste and derived products are obtained by the operator by solving a dispatch problem that maximizes the social welfare and that balances supply and demand across a given geographical region. Coordination enables handling of complex constraints and interdependencies that arise from transportation and bio-physico-chemical transformations of waste into products. We prove that the coordination system delivers prices and product allocations that satisfy economic and efficiency properties of a competitive market. The framework is scalable in that it can provide open access that fosters transactions between small and large players in urban and rural areas and over wide geographical regions. Moreover, the framework provides a systematic approach to enable coordinated responses to externalities such as droughts and extreme weather events, to monetize environmental impacts and remediation, to achieve complex social goals such as geographical nutrient balancing, and to justify technology investment and development efforts. Furthermore, the framework can facilitate coordination with electrical, natural gas, water, transportation, and food distribution infrastructures. [ABSTRACT FROM AUTHOR]

This paper examines the macro-economic benefits of the Single Market in goods and services by simulating a counterfactual scenario in which tariffs and non-tariff barriers are reintroduced. In this counterfactual scenario, intra-EU trade flows are significantly reduced. Lower trade openness also means reduced market size and less competition. Using empirical evidence on the effect of the Single Market on firms' mark-ups over marginal costs, we add these competition effects and arrive at a total estimate of around 9% higher GDP on average for the EU, but with a strong degree of heterogeneity across EU countries. [ABSTRACT FROM AUTHOR]

In this study, we construct an evaluation index system in terms of three dimensions including internal, external and interface factors. We propose an entropy-based TOPSIS model to measure the maturity of carbon market. The proposed model uses the entropy method to objectively weight the indicators, and the TOPSIS method to measure the maturity of carbon market. Taking China's seven pilot carbon markets from 2013 to 2017 as an example, the empirical results are that the overall maturity of China's pilot carbon markets is relatively low, for the sake of small market size, low market effectiveness, low market activeness and high price volatility. Moreover, due to the difference in the quotas transaction volume, market liquidity and market supporting facilities, there are obvious differences in maturities among China's seven pilot carbon markets. In 2017, the maturity of Hubei market is the highest, reaching 0.6146. The maturity of Guangdong, Shenzhen, Beijing, Shanghai and Tianjin reaches 0.6108、0.5022、0.4351、0.4267 and 0.3888 respectively. The maturity of Chongqing market is the only 0.3633, at the lowest level. What's more, from the perspective of maturity evolution trend, Hubei, Guangdong and Shenzhen fluctuate upward from the market opening to 2017 and steadily rank in the top three. Shanghai and Tianjin show a U-shaped growth trend, declining from 2013 to 2015 and continuing to rise from 2015 to 2017. Beijing shows a fluctuating downward trend from 2013 to 2017, while ranking fourth. Chongqing ranks relatively low, but it shows an escalating trend. Finally, several targeted policy implications are put forward to enhance the maturities of carbon markets. • An evaluation index system of internal, external and interface factors is proposed to examine the maturity of carbon market. • An entropy-based TOPSIS model is proposed to measure the maturity of carbon market. • The empirical results show that the overall maturity of China's pilot carbon markets is relatively low. • There are obvious differences in maturities among China's seven pilot carbon markets. [ABSTRACT FROM AUTHOR]

• Analyze incentives for decentralization provided by space-time electricity market dynamics. • Present optimal asset placement formulation to mitigate profit risk. • Show that placement problem can be cast as an eigenvalue problem. We study economic incentives provided by space-time dynamics of day-ahead and real-time electricity markets. Specifically, we seek to analyze to what extent such dynamics promote decentralization of technologies for generation, consumption, and storage (which is essential to obtain a more flexible power grid). Incentives for decentralization are also of relevance given recent interest in the deployment of small-scale modular technologies (e.g., modular ammonia and biogas production systems). Our analysis is based on an asset placement problem that seeks to find optimal locations for generators and loads in the network that minimize profit risk. We show that an unconstrained version of this problem can be cast as an eigenvalue problem. Under this representation, optimal network allocations are eigenvectors of the space-time price covariance matrix while the eigenvalues are the associated profit variances. We also construct a more sophisticated placement formulation that captures different risk metrics and constraints on types of technologies to systematically analyze trade-offs in expected profit and risk. Our analysis reveals that space-time market dynamics provide significant incentives for decentralization and strategic asset placement but that full mitigation of risk is only possible through simultaneous investment in generation and loads (which can be achieved using batteries or microgrids). [ABSTRACT FROM AUTHOR]