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This paper aims to analyze the individual's socioeconomic and demographic determinants of financial inclusion and its barriers among for South Asian countries in the lens of existing financial inclusion policy, using World Bank Global Findex database for the period 2011, 2014, 2017, and 2021. We use the Probit regression model to explore the main objective of this study. In addition, we also analyze the trend, pattern, and barriers of financial inclusion for the period 2011- 2021 to identify differences among south Asian countries. Our results reveal that Sri Lanka is the best performer in the inclusivity of financial products as well as removing barriers to financial inclusion in all four periods. While Pakistan and Afghanistan are the least financially included countries, also they failed to remove barriers to financial inclusion. Moreover, our empirical results suggest that individuals who are male, older, wealthier, and more educated are more likely to access financial services, with income and education exerting a higher influence. Further, age shows a non-linear (inverted U-shaped) relationship with financial inclusion indicators. Additionally, we found that individuals having a formal account are the most important indicators of financial inclusion. And the reasons for financial exclusion (i.e., not having an account) are mainly voluntary among South Asian individuals. In fact, it is found that policies like Pradhan Mantri Jan Dhan Yojana for India and National Financial Inclusion Strategy across all South Asian countries play a significant role in accelerating financial inclusion and helping in removing its barriers with different magnitudes. Therefore, our finding stresses the importance of heterogeneous integrated policy measures for the targeted groups of the population, particularly the most vulnerable group among South Asian countries. [ABSTRACT FROM AUTHOR]

In continuation of the previous part, this paper comprehensively focuses on energy, exergy, exergo-economic, and environmental (4E) analyses of two prioritized clean hydrogen (H 2) supply chains pathways. The first scenario relies on domestic demand , involves blue H 2 production and storage using steam methane reforming coupled with carbon capture and storage through H 2 conversion to hydrogen carriers in liquid form (ammonia and methanol) aligned with the existing infrastructure. The second scenario involves green H 2 production from photovoltaic panels as the power source follows by storing H 2 in liquid form which is more suitable to export. The findings indicate that the blue H 2 system outperforms the green H 2 system in terms of energy and exergy, boasting 41.38% and 22.15% compared to 12.16% and 12.75%, respectively. However, when examining economic parameters, the blue H 2 system shows a total cost rate of 1976 US$/h, a net profit of $747.2 million (mn) at the end of its lifetime, and a payback period of approximately nine years. Conversely, the green H 2 system demonstrates economic indicators of a 125.2 $/h as a total cost rate, $1.26 billion (bn) net profit, and an 8.17 year payback period. Moreover, the production cost rates for blue and green H 2 are 1.32 $/kg and 2.55 $/kg, respectively; while the CO 2 emissions rate in the blue H 2 system is 10.71 kg/s. The green H 2 system prevents 19.84 kg/s of CO 2 emissions resulted a significant environmental cost reduction of 2.28 $/kg H 2. This analysis facilitates a thorough comparison of these two clean H 2 production and storage systems, offering insights for policymakers across performance, economic, and environmental dimensions. • A comprehensive 4E analysis was applied for the selected H 2 value chain scenarios. • Blue H 2 scenario is superior economically while environmentally the green one takes precedence. • Carbon credit makes the green H 2 scenario emerges frontrunner utilizing PV solar technology. • Methanol was recognized as the most cost-effective H 2 carrier for storage in Iran. [ABSTRACT FROM AUTHOR]

Understanding the relationship between energy price dynamics and competitiveness is key to the debate on the transition to environmental and economic sustainability. That is particularly the case in emerging economies, where sectors and firms are less mature and more fragile to external shocks. Using a panel of firms in 12 sectors and 11 high and middle-income countries over the years 2002–2013, this paper provides evidence that growing energy prices do not harm and in some cases can even strengthen economic performance. The results suggest that the size and direction of the impact of growing energy prices depends on firms' energy intensity, among other characteristics. This should be taken into account in empirical studies focusing solely on average effects. • A widespread view is that growing energy prices determine a reduction of profits and competitiveness of firms. • This study analyzes the impact of energy prices on performance indicators of firms in developing and emerging countries. • We find that rise in energy prices can trigger innovation, which may compensate the static losses of rising input costs. • The negative impact of energy price changes on performance is stronger for firms with a higher level of energy intensity. [ABSTRACT FROM AUTHOR]

• The paper documents developments in Indian economic performance and the role of structural change in this performance. • Manufacturing is dominated by informal labor, which has a deleterious effect on overall manufacturing performance. • Productivity growth is driven by within sector growth, with positive contributions of formal and informal activities to this. • Labor reallocation to the informal segment of the manufacturing sector is growth reducing in the Indian manufacturing sector. • A shift to more productive informal activities across sub-sectors exists, but this doesn't offset the negative within effect. This paper examines the role of structural change in India's performance, and in particular the role of the informal segment in the stagnant growth of the Indian manufacturing sector. Using counterfactual analysis – including a modified shift-share approach – the paper considers to what extent the informal sector can help explain the poor performance of Indian manufacturing over the period 1980-2011. The results suggest that the informal segment of manufacturing has been a drag on overall manufacturing productivity growth, with the informal manufacturing segment unable to provide a productivity bonus when absorbing workers from the agricultural sector. Results from the shift-share analysis indicate that labor reallocation to the informal segment of the manufacturing sector is growth-reducing, with structural change being the main source of this reduction, an effect which in turn is driven by movements of employment within manufacturing sub-sectors. [ABSTRACT FROM AUTHOR]

A long tradition in economic theory has seen the real exchange rate (RER) as a key determinant of trade performance. Several empirical studies, however, have found low estimates of macro trade elasticities and, as a result, questioned this argument. In this paper, we show that to understand and estimate the effect of RER on trade performance, it is crucial to explore the existence of heterogeneous responses of individual products to RER movements. Using trade data from Argentina, we employ the Mean Group method to estimate macro trade elasticities by individual products disaggregated at four digits of the SITC; rev.2. We find a wide range of heterogeneous responses of exports and imports to RER movements at the individual product level. We find that the estimated RER-elasticities in differentiated products and labor-intensive manufacturing goods are substantially larger than those of primary and homogeneous products. Based on the estimated elasticities at the product level, we obtain a "low" aggregate RER-elasticity of exports when we weigh them by the country's trade basket. We show that this result is a consequence of Argentina's economic structure, a country whose exports are heavily specialized in primary and homogeneous products. Our results are important because they help build a bridge between two conflicting views in the RER-economic development literature. Even in countries with "low" aggregate macro RER-elasticities, the real exchange rate may be an important variable for economic performance. An undervalued RER may facilitate economic growth by stimulating investment in activities producing more complex/differentiated goods in countries that specialize in the production of primary and homogeneous goods and, as a result, have "low" trade elasticities. This seems to be the case of several countries in Latin America, including Argentina. • We find a wide range of heterogeneous responses of exports and imports to RER movements at the individual product level. • The estimated RER-elasticities in differentiated products and labor-intensive manufacturing goods are substantially larger than those of primary and homogeneous products. • Based on the estimated elasticities at the product level, we obtain a "low" aggregate RER-elasticity of exports when we weigh them by the country's trade basket. • We show that this result is a consequence of Argentina's economic structure, a country whose exports are heavily specialized in primary and homogeneous products. • Our results are important because they help build a bridge between two conflicting views in the RER-economic development literature. Even in countries with "low" aggregate macro RER-elasticities, the real exchange rate may be an important variable for economic performance. [ABSTRACT FROM AUTHOR]

In this paper, we look at the interaction of terrorism with immigrants' quality of life (measured by the foreign-born unemployment rate and globalization level) for OECD countries, and its impact on GDP per capita. We find strong evidence that GDP per capita is adversely affected by domestic terrorism. The magnitude of this effect is also substantial: at the sample mean, a one-standard-deviation increase in the number of domestic incidents is found to decrease GDP per capita between 5.7 % and 7.8 % of the sample average depending on the specification used. These results contrast with previous research which finds that transnational terrorism primarily affects these economic indicators. We find strong evidence that when we factor in the interaction of the foreign-born unemployment rate with either type of terrorism, an increase in the foreign-born unemployment rate decreases GDP per capita. On the policy front, we show that peace is valuable, and OECD countries will benefit by adopting policies to reduce the problem of terrorism. We also find that an increase in the foreign-born unemployment rate has a large negative impact on GDP per capita and policies that close the gap between foreign-born and native-born unemployment rates (for example, those aimed at reducing discrimination against immigrants) help the economy. [ABSTRACT FROM AUTHOR]

This paper examines the ordering of economic and financial prospects using a rescaled semivariance below the maximum (SVBMax). This indicator is consistent with stochastic dominance (SD) until order three, but is distinct from any expected utility framework, both in terms of construction and in terms of economic implications, despite an apparent formal similarity with the quadratic expected utility framework. SVBMax is able to deal with economic puzzles such as the restaurant puzzle or Rabin's paradox. SVBMax also provides a consistent alternative performance measure to popular measures such as the Sharpe ratio, the Omega ratio, or lower partial moments with exogenous thresholds. Compared to almost stochastic dominance, SVBMax is devoid of the drawbacks associated with the determination of violation areas. SVBMax can also replace the Aumann-Serrano and Foster-Hart riskiness indicators, which do not conform to third order SD. Further, SVBMax can provide a way of reaching an optimal diversification of stock portfolios. Besides, we also show that SVBMax is consistent with mean-variance-skewness preferences. [ABSTRACT FROM AUTHOR]

Economic inequality, in terms of income or wealth, is one of the most complex and perplexing challenges of our current capitalist economic system. While the dynamic relationship between income inequality and economic growth has been extensively investigated (since the beginning of the last century), the dynamic link between wealth inequality (or wealth concentration) and economic growth has been largely ignored in the literature, taking more attention in recent years. This paper asserts that the accumulation of non-productive assets/luxury goods is an important determinant of wealth inequality, as well as a determinant of the relationship between wealth inequality and economic growth. In this paper our aim is to show that an increase in wealth inequality is associated with a slowdown in economic growth. In particular, the paper shows that there is a negative relationship between wealth inequality and economic growth in France because poor households own a relatively large fraction of non-productive luxury goods. Nevertheless, this is not the case in the US, which is what explains that such negative relationship is not observed there. We conclude that a redistribution of wealth (from the rich to the poor) is important for attaining a sustained economic growth performance. • This paper contributes to the analysis of economic growth and wealth inequality in France and the United States. • We propose a macroeconomic model that includes both productive and non-productive assets. • Economic growth slows as the aggregate stock of non-productive assets increases as wealth inequality increases. • Redistribution will enrich the poorest households and therefore decrease their propensity to own unproductive assets. • Wealth inequality and economic growth may have a non-linear relationship. [ABSTRACT FROM AUTHOR]

The medium- and long-term operation strategy of the hybrid power system needs to adapt to the continuous changes in the market. This paper presented a medium-term (monthly) operational simulation model and nested it into a long-term (yearly) optimization model. It was solved by the genetic algorithm (GA) to maximize yearly revenue. The planned delivered-electricity to power process constraints were present to improve the optimization efficiency. Using penalty price factor (α) and threshold of exempted punishment for the supply shortage δ to characterize the punishment for supply shortage risk. This framework was applied for a new hybrid power system so-called LCHES-WP (large-scale cascade hydropower energy storage system, wind power, PV power). It can participate in the electricity trading market with a bundled output pattern. The real cascade hydropower stations in Qinghai Province, China, are selected as the case study. In the baseline scenario, the current time of use (TOU) electricity price and punishment level (α = 0.05, δ = 5%) were considered. It reveals that (1) the revenue (baseline scenario, 6.15351 billion CNY) in the bundled output pattern is higher by 45.6% than in the separate output pattern. (2) the economic and technical indicators are sensitive to α , but not to δ. α increases make the punishment stricter, supply shortage risk was significantly reduced due to the probability of the shortage event, the maximum monthly supply shortage ratio and punishment electricity are reduced by up to 22.5 percentage points, 26.7 percentage points, and 1880.1 GWh, respectively. The yearly revenue is reduced by up to 4.7%. the reason is the yearly curtailment is increased and the penalty amount does not change dramatically with the changes in punishment. (3) The α = 0.6 and α = 1.8 can be regarded as demarcation point and upper boundary point for the case of hybrid power system, respectively. It is proposed that when planning a capacity scheme, stakeholders should consider that the demarcation point is higher than the current α. In general, this paper provides a reference for the medium- and long-term operation optimization of the LCHES-WP hybrid power system in the future. • Electricity settlement rule in medium and long term electricity trading is considered. • The monthly operational simulation model was nested in the yearly optimization model. • Bundled output pattern can rise by 45.6% of revenue than the separate output pattern. • The supply shortage risk is significantly reduced by increasing the punishment level. • The penalty amount does not change obviously with the changes in the punishment level. [ABSTRACT FROM AUTHOR]

To fully extract the potential of offshore wind power, the wind farms are built further from mainland and the capacity is growing larger. Low Frequency AC (LFAC) transmission System is a promising solution to the integration of large offshore wind farms in long distance. This paper conducts a comparative economic analysis of LFAC. Compared to 50 Hz High Voltage AC (HVAC) transmission, LFAC can reduce charging current in AC cables to enhance the transmission ability in long distance. Compared to High Voltage DC (HVDC) transmission, LFAC eliminates the large expense of offshore converter station. In addition, the topologies of AC/AC converter in LFAC also influences the economic performance significantly. By designing typical AC/AC converters based on modular multilevel technique in a unified way, this paper performs a full-scale economic comparison in different voltage level, active power and reactive power cases. Furthermore, the economic comparison based on capital cost of HVAC, HVDC and LFAC is comprehensively studied considering different transmission capacity and the AC/AC converter topologies. The economic range of HVAC, LFAC and HVDC application is obtained, and results show that LFAC is suitable for medium distance circumstances (around 80–200 km). The economic range of LFAC expands when power rating increases. • Economic range of HVAC, HVDC and LFAC is analyzed according to their capital cost. • Converter topologies and transmission capacity is considered in the cost of LFAC. • Comprehensive comparison of four AC/AC converter topologies for LFAC is conducted. • A unified method is introduced to design four AC/AC converter topologies. [ABSTRACT FROM AUTHOR]

Batch processes usually adopt a two-layer architecture control strategy to reduce the calculation cost while ensuring economic performance. The upper layer in the strategy obtains the nominal optimal reference trajectory by solving an economic optimization problem, while the lower MPC one possesses the task of tracking this trajectory as closely as possible. The disadvantage of this two-layer strategy lies in the lower layer resisting all the disturbance for satisfactory tracking results, regardless of the fact that part of the disturbance will be beneficial to economic performance. In order to realize the economic promotion in batch processes, a batch-to-batch optimization method is proposed in this paper. As an alternative to the traditional lower-layer tracking MPC, the proposed algorithm uses Gaussian process regression to establish a more accurate linear time-varying model and learns the information from the previous batches to obtain a more precise state estimation, thus continuously moving up economics by solving the economic optimization problem. Convergence of the proposed algorithm is proved and simulation is performed to verify the effectiveness of the proposed algorithm on economic performance improvement in comparison with the traditional tracking one. • An economic performance improvement strategy is proposed for batch processes. • Disturbances are utilized instead of being resisted to promote economy. • Gaussian process regression is utilized to compensate for model-plant mismatch. • Kalman filter is adopted to realize an accurate state prediction of the batches. [ABSTRACT FROM AUTHOR]

• Identification of important indicators for process safety. • A comparative study of process safety indicators in developing and developed countries. • Measuring the relative importance of the indicators using the Fuzzy Best Worst Method. Introduction: The importance of safety in high-risk industries such as oil and gas facilities has been reported previously. Process safety performance indicators can provide insight into improving the safety of process industries. This paper aims to rank the process safety indicators (metrics) by Fuzzy Best-Worst Method (FBWM) using the data gathered through a survey. Method: The study uses a structured approach considering the UK Health and Safety Executive (HSE), the Center for Chemical Process Safety (CCPS), and the IOGP (International Association of Oil and Gas Producers) recommendations and guidelines to generate an aggregate set of indicators. It calculates the level of importance of each indicator based on the opinions of experts from Iran and some Western countries. Results: The findings of the study demonstrate that some lagging indicators such as the number of times processes do not proceed as planned due to insufficient staff competence and the number of unexpected disruptions of the process due to failure in instrumentation and alarms are important in process industries in both Iran and Western countries. Western experts identified process safety incident severity rate as an important lagging indicator, whereas Iranian experts considered this as relatively unimportant. In addition, leading indicators such as sufficient process safety training and competency, the desired function of instrumentation and alarms, and proper management of fatigue risk play an important role in enhancing the safety performance of process industries. Experts in Iran viewed permit to work as an important leading indicator, while experts in the West focused on fatigue risk management. Practical Applications: The methodology used in the current study gives a good view to managers and safety professionals in regard to the most important indicators of process safety and allows them to focus more on important process safety indicators. [ABSTRACT FROM AUTHOR]

With the rapid popularization of mobile devices, the mobile crowdsourcing has become a hot topic in order to make full use of the resources of mobile devices. To achieve this goal, it is necessary to design an excellent incentive mechanism to encourage more mobile users to actively undertake crowdsourcing tasks, so as to achieve maximization of certain economic indicators. However, most of the reported incentive mechanisms in the existing literature adopt a centralized platform, which collects the bidding information from workers and task requesters. There is a risk of privacy exposure. In this paper, we design a decentralized auction framework where mobile workers are sellers and task requesters are buyers. This requires each participant to make its own local and independent decision, thereby avoiding centralized processing of task allocation and pricing. Both of them aim to maximize their utilities under the budget constraint. We theoretically prove that our proposed framework is individual rational, budget balanced, truthful, and computationally efficient, and then we conduct a group of numerical simulations to demonstrate its correctness and effectiveness. • We enriched the background in the introduction section. • We added a lot of the latest references. • We refined the language and descriptions to make it more clear. • We added many comparative experiments and figures. [ABSTRACT FROM AUTHOR]

• Evaluate the effect of uncertain operating and market conditions on dispatch planning. • Apply Model Predictive Control (MPC) for dispatch scheduling of CSP plants. • Monte-Carlo simulation is to evaluate the MPC performance for a case-study in Australia. • The plant profitability from electricity sales under spot prices is assessed. The aim at dispatch scheduling for concentrating solar power plants is to utilize thermal storage to maximize profit from electricity generation. The dispatching plan, however, must contend with significant uncertainty in both weather forecasts (particularly solar irradiation) and, in some locations, real-time electricity prices governed by potentially volatile markets. This paper proposes a Model-Predictive Control (MPC) which employs a novel similarity-based forecast for weather variables and exploits the predictions of electricity prices provided by the market operator. A Monte-Carlo simulation is developed to evaluate true performance of the proposed MPC against two benchmarks, with perfect knowledge (PK) forecasts and day-ahead optimized using prototypical weather (DAPW). A case study is performed on a 115 MW Solar Tower plant with 8-hour storage, hypothetically located in South Australia, and operates under either a fixed-price or a real-time spot price scenario. A Monte-Carlo simulation is conducted for 150 tests for January (summer) and August (winter). The results show in fixed-price scenario MPC achieves 82.4 % of optimal profit (i.e. obtained via PK) in January and 72.4 % in August whereas that in DAPW falls to 71.5 % and 56.9 % of optimal, respectively. In the spot market scenario, MPC reaches 71.3 % and 63.6 % of optimal profit in January and August, whereas that for DAPW reaches 61.4 % and 55.1 %, respectively. In conclusion, PK forecast assumption in dispatch planning over-estimates the achievable profit by ∼ 28–40 % particularly in spot market scenario. Moreover, MPC can mitigate the influence of uncertainties on the plant economic performance by 8.5 %–15.5 % compared to DAPW benchmarks. [ABSTRACT FROM AUTHOR]

Systems involving more than one energy source, namely hybrid systems, can be arranged in different configurations and layouts depending on the available or used energy source, application and scale of the system. Despite an increasing awareness and penetration of renewable energy sources at different scales in many countries over the world, the adoption of hybrid and novel renewable systems is relatively scarce, especially at a small scale. This scenario is also presented from the point of view of the research of such systems. Therefore, the scope of the paper is to improve the knowledge regarding small-scale hybrid renewable energy systems performance and operation by investigating a novel trigeneration system based on a biomass fired steam cycle, wind turbine, photovoltaic panels and adsorption chiller. In the proposed system, the thermal energy recovered by the steam cycle is used to match the user thermal demand by means of a storage tank supplying directly heat to the user during winter, and driving the adsorption unit during summer. The electrical energy produced by the steam turbine, photovoltaic field and wind turbine is managed by a control system that integrates a bidirectional connection with the electric grid. The grid allows one to virtually store the electrical energy produced in excess and to recover it in part when needed by the user. In order to assess the system performance, a farm and residential buildings are considered as case study. The proposed system is modelled and dynamically simulated by means of Transient System Simulation software. In the paper, the dynamic operation of the system and the energy and economic performance of the system is assessed. The operation of the system is presented in a daily and monthly basis, while the global performance parameters of the system are reported considering a one-year period. The primary energy saving of the system is above 70% when a reference system based on natural gas, electric chiller and grid is considered. For this scenario, the Simple Pay Back of about 10 years is achieved. The results of the analysis show that the system is feasible from the technical and energy point of view, whereas its economic profitability is significantly affected by its cost and the reference system that is adopted by the user. • Modeling and dynamic simulation was performed with TRNSYS software. • Energy and economic performance of the system was assessed. • Different reference systems are considered for heating. • Primary Energy Saving ratio was between 57.4 and 73.3%. • The minimum Simple Pay Back is about 10 years. [ABSTRACT FROM AUTHOR]

Distributed energy systems are becoming increasingly popular worldwide. The 100% renewable energy system can be an important energy supply alternative to reduce the carbon emissions and address energy shortage, especially for remote areas. However, the performance of 100% renewable energy system (RES) at community level needs further detailed analysis, which is affected by the climates, availability of renewable energy and local energy markets. This paper proposes a design optimization framework of 100% renewable energy systems for low-density communities and investigates the system performance. To investigate the integration and performance of 100% RES, thirty typical cities located in different regions of China were chosen considering different climates, geographical features, and renewable energy distributions. By taking the economic performance as the optimization objective, the optimal design for the 100% RES is obtained, and the energy and economic performance is analyzed. Results show that, under the current energy market conditions, the 100% RES is feasible for low-density communities in most regions of China. The payback periods of the systems in most cities are less than six years. When the cost of PV is reduced by half considering future technological developments, the payback period of a 100% RES can be reduced by 30%–60%. This paper would provide design suggestions and application recommendations in regard to promoting 100% RES in China. • Application of 100% renewable energy system at community level is studied. • 30 zones are selected considering climates, renewable energy sources and markets. • Solar energy and biomass can contribute to over 90% of the total energy supply. • Investment of 100% RES can be paid back in 6 years for most regions. • Payback periods can be reduced by 30%–60% when PV technology is further developed. [ABSTRACT FROM AUTHOR]

• The present paper develops an innovative methodology to analyze the distributional changes in the RPC in the last decades using CHNS and CHIP data. • The paper documents how the distributional changes hollowed out the middle of the Chinese household income distribution and increased the polarization. • We define the polarization as the combination of divergence from global and convergence on mean local incomes. The method used is the Relative distribution one (Handcock and Morris, 1998 1999). • Our results seem to be in opposition to the widely shared received idea that in the last decades the Chinese middle class consolidated its status, increasing its weight in the total population and capturing a rising share of the national income. • Even in a fast-growing context, socioeconomic polarization is a serious problem - especially so in a country like China, with its unique historical, cultural and ideological background. Since the 1990s, and until the beginning of the second decade of the XXIth century, record economic growth in the PRC has been inclusive (as virtually all social groups experienced sizeable well-being improvements in an absolute terms). Yet, it has been accompanied by an increase in both income inequalities and polarization. To jointly explore these phenomena, we apply the Relative Distribution tool on different datasets. This technique allows to statistically isolate and analyze separately the pure growth and the pure distributional components, or effects, of the overall societal income evolution process. Our main result shows a hollowing out of the mid-range deciles - i..e, the (national) middle class , understood by definition as the central ones of a country's income distribution function - with a corresponding fattening of the highest and lowest ones. Trends in " pure distribution " (i.e., the shape effect) show the emergence of a typical polarization profile. This key finding does not contradict the stylized fact that such a (negative) "pure distributional" trend has been " countered" by impressive GDP growth. The latter has led an ever-increasing and now ample share of China's population to join the ranks of the global middle class - a popular declination of the middle class concept with its own merits, yet totally distinct to the national one mentioned above. 1 1 On the growing number of Chinese households joining the global middle class see, among others, Li He 2006 , Cheng Li (ed.) 2010, Zhang Yuan, Guanghua Wan, and NinyKhor 2011 , Tsang 2014 , Rocca 2017 , Sicular , Gustafsson and Xiuna Yang 2017. We need to take both growth effects and shape effects over time into consideration for a proper political economic assessment of Chinese economic performance. As growth slows, unless countervailing policies are undertaken, polarization might reveal itself more sharply, increasing the risk of social conflicts. To avoid such an unwelcome outcome, focused anti-polarization actions are warranted, along with policies aiming at achieving a more egalitarian growth pattern. [ABSTRACT FROM AUTHOR]

In a companion paper, Ojeda-Rojas et al. (2021) [1] describe a stochastic agent-based simulation (ABS) model of a cow-calf operation on a commercial farm in São Paulo, Brazil. The model's parameterization was based on data collected from two sources: a real beef cattle herd and related scientific literature. Based on the mentioned simulation model, this study aims to assess the economic outcome of 10 different reproductive scenarios: Natural mating only (ONM); one timed artificial insemination (TAI) plus natural mating (NM) (1TAI + NM); two TAI plus NM, with 24, 32, and 40 days between TAI (2TAI/24 + NM, 2TAI/32 + NM, and 2TAI/40 + NM, respectively); three TAI without NM, with 24, 32, and 40 days between TAI (3TAI/24, 3TAI/32, and 3TAI/40, respectively); and three TAI plus NM, with an interval between TAI of 24 (3TAI/24 + NM) and 32 days (3TAI/32 + NM). The simulation was performed on an animal-by-animal basis over a time horizon of 5000 days. Each scenario had 32 farms, and each farm kept up to 400 adult females. According to the scenario, a bull population was composed of 0, 7, or 15 individuals. The outcomes, represented as means ± standard deviations, were assessed after reaching a steady-state (1825 days). The model outcomes showed that the 3TAI/24 + NM scenario resulted in higher incomes (US$ 96,479.19 ± 709.81), whereas the ONM scenario had the lowest incomes (US$ 79,753.37 ± 741.87). The 3TAI/24 + NM (US$ 101.720.63 ± 79.21) and ONM (US$ 90.898.58 ± 59.17) scenarios presented the highest and lowest total operating costs (TOC), respectively. However, when TOC was evaluated per kg of the weaned calf, the highest and lowest costs were associated with the ONM (US$ 2.81 ± 0.03/kg) and 2TAI/24 + NM (US$ 2.17 ± 0,04/kg) scenarios, respectively. Our model suggests that reproductive strategies that use TAI have a better economic performance than those under NM. However, when performing three TAI with an interval of 40 days, the benefit was lower; in some cases, it was even worse than the ONM. Combining TAI with early pregnancy diagnosis resulted in better economic performance than other TAI programs and NM. The 2TAI/24 + NM scenario outperformed the others due to the contrast between its high income and moderate costs. Beef cattle production is a highly complex system. Simulations models, specifically ABS models, could make the decision-making process on complex systems straightforward and effective. Furthermore, ABS models can overcome the limitations of conventional research approaches, such as high costs and long experimentation periods. • A stochastic agent-based model was used to simulate a cow-calf operation. • We evaluate the economic performance of using natural mating alone or with TAI. • The analysis considers the number of TAIs (1, 2, or 3), days between them (24, 32, and 40), and early pregnancy diagnosis. • Combining TAI with early pregnancy diagnosis resulted in a better economic performance. • The 2TAI/24 + NM scenario outperformed the others due to its high income and moderate costs. [ABSTRACT FROM AUTHOR]

• We present a multinomial approach not previously used in the macroeconomic literature for the study of growth and industrial dynamic. • The successful growth dynamic observed during the 1995–2014 period in several emerging economies is very heterogeneous in terms of their industrial transformation. • Developed economies grew slowly and, generally, through episodes of limited industrial transformation. • The relationship between economic fitness and the countries' industrial and growth dynamics generates a path dependency in economic development. • The fitness score of a country –that moves very slowly during one or two decades– establishes the most common sequences of episodes to be observed. When analyzing countries' medium- and long-term economic performance, it is important to study jointly the dynamic of growth and the industrial evolution that determines how the productive structure changes over time. In this paper, we use the Economic Fitness metric to describe the competitiveness of the countries' industrial structure, and classify economic episodes, with five-years windows, to establish how countries grow (i.e., above or below a trend, and with a dynamic or static industrial structure.) We show a complex growth dynamic using data covering two decades (1995–2014) for a large set of countries. This pattern indicates that the observed sequences of spells vary substantially even between countries within the same growth regime (low, medium, and high). Moreover, we find a robust statistical relationship between these spells and Economic Fitness with a multinomial econometric model. In particular, we show that economies with higher fitness are more resilient since episodes of below-average growth and the net disappearance of competitive firms are less likely to happen. [ABSTRACT FROM AUTHOR]

• We assess the sustainability of growth led by government and exports demand. • We verify the stability of public and external debt ratios in an SSM model. • Thirlwall's Law appears as the external constraint growth rate in the long run. • A fiscal policy rule changes the government's share to contain foreign debt. • Simulations suggest the economic performance improves with structural policies. The Sraffian supermultiplier model revealed the role of autonomous demand in economic growth. Nevertheless, the sustainability of growth requires the stability of the financial stocks behind autonomous demand. Growth led by government expenditure and exports is thus stable if both public and external debts are stable. In this paper, we assess the stability of this growth process in a supermultiplier model. The external constraint may appear as a restriction to external indebtedness, imposing an upper limit to growth. Nonetheless, the domestic autonomous expenditure can keep the economy distant from the external constraint. A fiscal policy rule is proposed to contain foreign indebtedness. Simulations support the analytical results, and compare the outcomes of the fiscal policy rule and a structural change policy. Altogether, the model provides stability conditions for growth in an open economy paying its international liabilities in foreign currency. [ABSTRACT FROM AUTHOR]

Internet satellite constellations are expected to play an important role in accommodating the rising global demand for internet access. Such rise in demand, however, is highly uncertain. Staged deployment is an approach that provides flexibility to tackle demand uncertainty by enabling the real option to reconfigure a constellation if demand changes. Advancements in satellite technology have led to the emergence of multi-layered constellations. This opens the opportunity to enhance staged deployment by enabling an additional real option: adding a new layer to a constellation. This real option has no associated reconfiguration costs, and therefore has the potential to reduce the cost of staged systems deployment. This paper proposes a framework to design multi-layer staged deployment systems and analyse their effectiveness in modern mega-constellations under global demand uncertainty. The framework is applied to four case studies based on market projections. Results show that multi-layer staged deployment decreases the expected life-cycle cost (ELCC) by 42.8% compared to optimal traditional single-layer deployment. Multi-layer staged deployment is more cost effective than single-layer staged deployment in all practical cases, which decreases ELCC by 22.9% compared to traditional deployment. Several cost altering mechanisms in staged deployment are identified. The results and analysis provide improved economic performance and better resource utilization, thus contributing in the long term to improved sustainability and market resilience. An accompanying decision support system provides system engineers with valuable insights on how to reduce deployment costs using the proposed multi-layered staged strategy. • Staged mega-satellite constellations deployment provides flexibility to deal with uncertain growing global internet demand. • A proposed framework enables more adaptable, sustainable, and resilient multi-layer staged deployment (MLSD) systems. • Results show 43.1% decrease in expected life-cycle cost (ELCC) compared to traditional design strategies. • Flexible MLSD is 22.9% more cost effective than flexible single-layer staged deployment. • A decision support system provides further insights on design and deployment of flexible MLSD systems. [ABSTRACT FROM AUTHOR]

Recent technological developments make perovskite solar cells (PSCs) particularly suitable for building integrated photovoltaic (BIPV) applications on vertical building envelopes, but the relatively short lifespan of PSCs requires frequent replacement, thereby generating substantial waste. Careful consideration of circularity credentials of this novel technology is therefore essential prior to the extensive implementation of vertical PSCs in building envelopes. This paper provides a circular economy approach for the implementation of PSCs in vertical envelopes and assesses its economic feasibility by life cycle cost analysis in Europe. The process of recycling PSC is developed. The economic performance of PSC envelopes is provided and compared to that of the conventional rigid BIPV system. Uncertainty analysis and sensitivity analysis of economic indicators are then performed to identify the influential parameters. The findings indicate that the PSC envelope has a significant potential for circular BIPV components and that PSCs applied on vertical envelope are economically viable. • LCCA of vertical PSC envelopes with recycling strategy is analyzed in Europe. • Recycling strategy of PSC is explored before diffusion to overcome PSC's short lifespan. • PSC price is the most influential factor for the deviation of LCOE. • PSC envelope has potential to achieve profitability in most regions of Europe. [ABSTRACT FROM AUTHOR]

Food systems are dominated by multiple risks inflicted by their surrounding environments that pose pressures on the continuous and efficient supply of food products. Market dynamics represented by competitive and cooperative behaviors of the system's main players is one of the uncertainties that influence the availability and affordability of food products. Efficient modeling of these risks can assist decision-makers in simulating and predicting future actions that mitigate the impact that market dynamics have on the provision of food products. This paper suggests an Agent-based model-based framework that simulates the behavior and tracks the economic and environmental performances of the tomato supply system in the State of Qatar. It considers three different scenarios representing the current situation of the market in addition to a competitive and a cooperative trade network. Interactions between trade partners are modeled using two game theoretic approaches counting Cournot competition and Cartel collusion. Based on the research findings, a competitive global market can bring economic benefits to Qatar as an importing nation, but this approach also entails substantial water consumption and results in significant environmental emissions. Conversely, collaboration among exporting countries demonstrates a potential 20% reduction in water usage and a 15% decrease in environmental emissions compared to the competitive scenario, offering enhanced environmental performance albeit at higher economic costs. This study provides a prescriptive analysis that enables policymakers to quantify the trade-offs between economic efficiency and environmental sustainability. These insights are crucial for guiding strategic planning for food supply security and environmental conservation. By understanding the implications of market structure changes, policymakers can navigate potential challenges more effectively and develop targeted policy interventions that enhance the resilience of the food supply system against market volatility and environmental impacts. This analysis supports proactive policy-shaping that aligns with their desired outcomes, ensuring a balanced approach to managing economic benefits and environmental considerations. [ABSTRACT FROM AUTHOR]

• Novel ammonia blended natural gas GT-STCC based on dual-temperature CO 2 turbines. • Effect of fuel ammonia blending ratio etc. on thermodynamic performance is studied. • Power generation cost and pollutant emission including CO, CO 2 , NO x are evaluated. • Energy, economic, environment performance trade-off via tri-objective optimization. • GT-STCC shows a 2% higher thermal efficiency, a 12.8% lower cost than GT-sCO 2 -tCO 2. In order to solve the temperature interference problem, this paper proposes a novel ammonia-blended natural gas fueled gas turbine − split transcritical CO 2 cycle (GT-STCC) combined system based on dual-temperature CO 2 turbines. One split stream of CO 2 is pumped to CO 2 heater for recovering GT waste heat, while the other stream is pumped to CO 2 regenerator for utilizing high-temperature CO 2 turbine (HCT) waste heat and driving low-temperature CO 2 turbine (LCT). The sensitivity analysis of system thermodynamic performance with respect to fuel ammonia blending ratio, compressor pressure ratio, heat exchanger effectiveness, LCT CO 2 split ratio, CO 2 evaporation pressure is performed under the same total fuel heat input. In addition, the impacts of key operation parameters on power generation cost (PGC) and pollutant emission, including CO, CO 2 , NO x , are clarified. Energy, environmental and economic performance trade-off is achieved through a tri-objective optimization based on genetic algorithm. The results show that a 50 % increase of fuel ammonia molar blending ratio results in a 1.29 % decrease of total thermal efficiency, a 24.66 % decrease of total normalized pollutant emission, and a 35.71 % increase of power generation cost (PGC) for novel GT-STCC. As compressor pressure ratio or heat exchanger effectiveness changes, the normalized CO 2 and NO x emissions show opposite trends. The PGC and total normalized pollutant emission reach minimums under the same LCT CO 2 split ratio of 0.4, while they obtain minimums at different CO 2 evaporating pressures of 250 bar and 350 bar, respectively. The tri-objective optimization shows that the optimal total system thermal efficiency, total pollutant emission and PGC are 54 %, 0.3149 × 10-1 t/MWh and 0.05176 $/kWh, respectively. Compared to the GT − supercritical CO 2 − transcritical CO 2 cascade system, the novel GT-STCC system is a more promising power system due to its simpler configuration, 2 % higher overall thermal efficiency and 12.8 % lower PGC. [ABSTRACT FROM AUTHOR]

Yemen witnesses a heinous war and continual conflict that devastates its fragile infrastructure. The country's development indicators devolve significantly, and, among other sectors, higher education and its quality have been imperiled. The objective of this paper is to explore the effects of war on the quality of higher education in Yemen from the standpoint of Yemeni scholars. This qualitative study is based on grounded theory design and used semi-structured in-depth interview methods to collect data from Yemeni scholars within and outside Yemen. The core questions focused on the impact of war, the actions taken by scholars, and the prospects of higher education quality. Seventeen diverse scholars were included in the study. The analysis of data outlined six war-related factors that affect the quality of higher education: attacks on scholars, financial constraints, corruption, human capacity shortage, poor research performance, and lack of physical capacity. Realities are reconstructed through descriptions of the trajectory of the war and its negative consequences on scholars and their endeavors. Quality as a sign of the good functioning of higher education institutions is not an exclusively sectorial issue. Actions and prospects need to fit within frameworks of national reconciliation, regional peace, and frameworks of international cooperation. Further research tackling other dimensions of education quality and including other stakeholders is needed. Rethinking and reforming Yemen's higher education system in its different aspects and challenges, are paths to peacebuilding and the recovery of the country. A roadmap prioritizing this reform is urgently needed. • The devastating effects of war were examined from the perspective of Yemeni scholars. • The endurance of scholars to cope with the situation was exposed, analyzed, and compared with other countries in the region. • A prospect for national, regional, and international actions was suggested. [ABSTRACT FROM AUTHOR]

In this paper, we address the economic performance of Model Predictive Control (MPC) while operating at a backed-off operating point. Operating the plant at a constrained optimal point will often cause constraint violations due to uncertainties such as disturbances and measurement errors, etc. To ensure dynamic feasibility, the concept of economic back-off is used. In this work, we select the set point as the economic back-off point such that the dynamic operating region should have the least variability in the active constrained variables while ensuring the feasibility of other variables. In other words, the dynamic operating region is oriented by the proper design of a controller such that variability in active constrained variables is as low as possible. This controller design can be transformed into equivalent objective function weights of the MPC controller. In this study, we demonstrate that the determined back-off point is optimal for both linear controller and MPC controller when there are no unconstrained degrees of freedom. For the case with unconstrained degrees of freedom, the back-off point determined using the presented approach is optimal only for a linear controller but suboptimal for an MPC controller. Demonstrative case studies are presented to illustrate the economic performance of the MPC controller at the determined economic back-off point. • We proposed an economic back-off formulation for linear discrete-time systems. • We adopted a two-stage iterative solution strategy to determine optimal back-off. • We assess the economic performance of the MPC controller using inverse optimality. • We emphasize the role of unconstrained degrees of freedom in determining back-off. [ABSTRACT FROM AUTHOR]

• Biform games can coordinate supply chains with competition and cooperation relation. • Carbon complementary is a beneficial way to organize the internal carbon trading. • The pareto improvement can be achieved under hybrid carbon trading schemes. • We incorporate the Minimax and Maximin principle and Shapley value into biform game. Cap-and-trade, Certified Emission Reductions (CERs) and Renewable Energy Consumption Obligation (RECO) are three regulatory instruments used by governments to decarbonize supply chains. Integrating these mechanisms creates a Carbon Complementary Supply Chain (CCSC), in which traditional energy manufacturers (TMs) with high emissions can offset their carbon footprint by trading CERs with renewable energy manufacturers (RMs) who develop the CER projects, and compete with RMs. In the downstream, retailers are incentivized to procure more renewable energy products to avoid RECO penalties. Given that all the CCSC members tend to cooperatively invest in the CER project, this paper proposes a novel biform game-based coordination mechanism combining noncooperative and cooperative games to promote CCSC's synergy. The findings show that this mechanism can induce CCSC members to cooperate, achieving Pareto improvement in social welfare, economic performance, and individual profits under specific regulatory intensity thresholds compared to the noncooperative scenario. Our findings contribute to the ongoing debate on the role of carbon regulations in enhancing supply chain performance by providing insights into the contractual relationships among supply chain members and the economic forces at play. [ABSTRACT FROM AUTHOR]

The central environmental protection inspection is an institutional innovation in China that aims to supervise enterprises by monitoring government environmental enforcement. This paper examines the effectiveness of central environmental protection inspection in improving enterprise environmental performance by using a quasi-natural experiment of the first round of central environmental protection inspection. The study reveals that the central environmental protection inspection improves enterprise environmental performance by strengthening local government environmental enforcement and environmental attention. This is evidenced by the increase in enterprise environmental capital expenditure and the decrease in pollution discharge fees. The impact of central environmental protection inspection on enterprise environmental performance is strengthened by local governments' environmental regulation and environmental fiscal expenditure, as well as by public participation. Under the pressure of central environmental protection inspection, heavily polluting enterprises engage in production process improvement and R&D investment, which can improve their economic performance. This can ultimately lead to a competitive advantage for enterprises, promoting a win-win situation for both environmental and economic performance. [ABSTRACT FROM AUTHOR]

The manufacturing industry is facing a major challenge in balancing economic performance with environmental sustainability. To address this challenge, extant research has suggested that servitization could help align these objectives. However, the current evidence base is too scattered for policymakers to act on and support servitization in a targeted manner. Therefore, we conduct a systematic literature review to analyze over 120 research papers to establish the current understanding of the impact of servitization on the environmental and economic performance of a firm, and identify the contextual variables affecting this impact. The study identifies and critically appraises the body of literature that provides the current evidence base on the impact of servitization, the core areas of impact investigated and the methods that are used to establish this impact. Additionally, we conduct a thematic analysis of variables of impact to explore the theoretical perspectives that are used to explain the impact of servitization. Building on these theoretical perspectives we offer concrete propositions to further develop the research on the impact of servitization on environmental and economic performance. [ABSTRACT FROM AUTHOR]

The final geometry of open stopes often diverges from the design, creating unintentional volumes of overbreak and underbreak. Tools, such as the Stability Chart, are used for predicting overbreak, but its limitations regarding the precision of the predictions and the exclusion of underbreak have constrained the benefits of a predictive tool at the design stage. Furthermore, the economic aspects are not integrated when addressing geomechanical stope design. This paper presents how understanding and predicting stope performance at a meter-scale resolution through a multivariate model can be used for assessing the geotechnical (overbreak and underbreak) and economic stope performance. These predictions estimate the magnitude and location of overbreak and underbreak across the design surface, and are used to resolve the expected geometry of the mined void. The incorporation of a predicted mined void with grade values from a block model allows for a comprehensive economic stope performance estimate. This work is a significant step towards a stope design and planning process that minimizes the stability issues, dilution and loss of ore across the stope. As designing for higher ore recovery increases the potential for dilution and vice versa, this approach allows for the value realised from mining a stope to be maximised by quantifying this inherent economic trade-off. The enhanced resolution of both data and predictions has allowed for a more comprehensive evaluation of the predicted stope performance and economic outcomes during the design phase. This marks a notable advancement in the ability to design and plan the optimal stope. • A new probabilistic stope design approach for assessing the expected mining void. • Utilises data at a meter scale resolution and a multivariate model. • A comprehensive evaluation of the predicted overbreak and underbreak. • Incorporation of grade to quantify the economic trade-off of different designs. • It marks a notable advancement in designing and planning the optimal stope. [ABSTRACT FROM AUTHOR]

This paper proposed an innovative hybrid system to generate electricity and fresh water with higher energy efficiency. A subsystem is employed by integrating DCMD and heat pump to recover waste heat of PEMFC to produce fresh water. The thermodynamic and exergoeconomic models are established to evaluate the system comprehensive performance. Compared with the PEMFC alone, the results demonstrated that the proposed hybrid system achieves a 42.07 % increase in energy efficiency and provides 177.86 kg/h of fresh water. The components with high exergy destruction are PEMFC, Relief value, Inverter, Separator 2 and DCMD with the exergy destruction rate of PEMFC stack accounting for 54.55 %. The parametric analysis results indicate that the variation of the membrane filament number, feed and permeate flow rates all have evident impacts on the thermodynamic and economic performances of the hybrid system. The multi-objective optimization is conducted by adopting NSGA-II and three decision-making methods. The optimal solution obtained by AHP-entropy-TOPSIS approach for the net power out, exergy efficiency, WPC, and total exergy cost rate are 96059W, 0.5293, 0.2995 $/m3, and 14.27 $/h, respectively. In addition, the obtained results shown that the simulation times of NSGA-II are significantly reduced from 89.30 to 11.20 h by introducing BP-ANN to improve the simulation efficiency. [ABSTRACT FROM AUTHOR]

This paper compares the performance of conventional and organic fruit farms in Spain, using a set of base indicators to assess their economic and environmental performance on a per hectare basis. Composite indicators are also calculated to measure the overall economic and environmental performance of both production systems. Comparisons are made using propensity score matching to minimize the non-randomization biases caused by structural differences between the samples of conventional (n = 552) and organic (n = 127) fruit farms sourced from the Spanish Farm Accountancy Data Network (RECAN). The results based on per hectare metrics point to modest changes in the performance of farms that converted to organic farming. This is mainly because most converted farms were former conventional farms characterized by lower profitability and less intensive input use, consequently minimizing the effects of the conversion process. Nevertheless, the conversion outcomes exhibit a degree of variability depending on the specific type of fruit production. Economic gains are only discernible in the case of nut farms, whereas fruit and tropical fruit farms tend to yield the most favorable results per hectare from an environmental perspective. • Changes in per hectare performance are assessed when fruit farms convert to organic. • A complete set of economic and environmental base and composite indicators is used. • A matching procedure is implemented to obtain unbiased difference estimators. • Small changes are found in the per hectare performance of farms after conversion. • Mixed results depending on the type of fruit production subsector considered. [ABSTRACT FROM AUTHOR]

• Innovative combination of offshore solar PV and wind farm. • Increase of capacity factor or grid connecting cable. • Profitability depends on marginal power delivered to the grid and PV costs. In this paper, a techno-economic analysis is performed to assess the feasibility of adding an offshore floating solar farm to an existing Dutch offshore wind farm in the North Sea, under the constraint of a certain fixed cable capacity. The specific capacity of the cable that connects the offshore park to the onshore grid is not fully used due to the limited capacity factor of the wind farm. The principle of cable pooling allows to add floating solar capacity. Using weather data it is found that adding solar capacity leads to forced curtailment due to the cable capacity, but this is quite limited as result of the anti-correlation of the solar and wind resource. For the economic analysis, different scenarios regarding subsidy measures are considered for the calculation of net present value and levelized cost of electricity. Also the optimum additional PV capacity for each scenario is computed. The results show that with higher cost per Wp, optimum PV capacity decreases, but more favourable subsidies lead to higher optimized PV capacities. As the aim of the paper is not limited to a case study a methodology is developed for generalization of the techno-economic analysis of a hybrid solar/wind park. In this generalization, the initial investment, system degradation, cable capacity, number of hours when each system is active, and energy price, are implemented to compute the optimum PV capacity regarding the net present value as an indicator for economic analysis of the project. [ABSTRACT FROM AUTHOR]

• GHG emissions of Arctic LNG transportation are estimated. • Emissions related environmental costs are accounted. • Unit cost of LNG transportation via Northern Sea Route is estimated. • LNG may be the most efficient fuel in total cost saving and emission reduction. • Policy suggestions for energy use on Arctic routes have been recommended. The Northern Sea Route (NSR) might be a promising route for LNG transportation from the LNG plants in Russia's Yamal Peninsula to Northeast Asia countries with significant savings in sailing distance and time compared to traditional Suez Canal Route (SCR). However, surging transportation activities along NSR might harm the environment with the greenhouse gas (GHG) and atmospheric pollutant emissions. Little research has been done to investigate the environmental and techno-economic potential of transporting LNG via NSR. Furthermore, this paper analyses the relevance of an Arc4 ice-class vessel, not currently used for this route. This paper targets to address the question that how much GHGs and atmospheric pollutants does a carrier emit and how is the feasibility of different fuel types for the summer and winter transportation considering environmental impacts. An environmental and techno-economic model quantifying the emissions and total costs have been developed and 3 scenarios of using different fuel types (HFO, MDO, LNG) are proposed to investigate the environmental and economic performances in summer and winter respectively. Our results reveal that the unit cost of transporting LNG via NSR is around 90 U.S. $ cents/GJ in summer and 120 $ cents/GJ in winter considering environmental cost. The findings also show that in the short run when regardless of environmental cost, HFO is still the preferable option for ships by its competitive cost. While when considering the environmental cost, LNG has better economic and environmental performance than other fuel types. So, for the long run, LNG might be encouraged to be the main fuel used in Arctic. [ABSTRACT FROM AUTHOR]

Traditional flat PV heat pumps has low irradiation density, large PV area, and the PV evaporators are always fixed, causing large area occupation and lots of irradiation missing, which limit the application and system efficiency. To solve the problems, a novel concentrated PV-air dual-source heat pump system (CPV-DSHP) was proposed in the previous paper, but the annual performance and economic comparison with flat PV-DSHP (FPV-DSHP) are still blank, which are extremely concerning to researchers. Besides, the paper also fills related content about the impact of irradiation composition on the system performance and economics, as well as the irradiation comparison on tracking CPV and fixed FPV surface. From the calculation of the validated model, it's found that the CPV-DSHP system could capture 6098 MJ and 2213 MJ more solar energy, and produce 282.21 kWh and 100.16 kWh more electricity in Garze and Hefei in a year. The annual concentration efficiency is 82.73 % in Garze where direct irradiation accounts for 68.89 %, which is only 73.15 % in Hefei with 39.84 %.The COP PVT is annually lifted by 0.40 in Garze. Although the two systems could both get payback in 5∼6 years, the CPV-DSHP only shows economic advantages in places with good direct irradiation conditions like Garze. • A novel concentrated PV-air dual-source heat pump system (CPV-DSHP) is presented. • The annual performance and economic comparison in different cities are supplemented. • The CPV-DSHP could produce 282.21 kWh more electricity in Garze in a year. • The annual concentration efficiency is 82.73 % in Garze with better direct irradiation. • Payback time is 5∼6 years but CPV-DSHP only shows economic advantage in Garze. [ABSTRACT FROM AUTHOR]

Real-time optimization with persistent parameter adaptation (ropa) is an rto approach, where the steady-state model parameters are updated dynamically using transient measurements. Consequently, we avoid waiting for a steady-state before triggering the optimization cycle, and the steady-state economic optimization can be scheduled at any desired rate. The steady-state wait has been recognized as a fundamental limitation of the traditional rto approach. In this paper, we implement ropa on an experimental rig that emulates a subsea oil well network. For comparison, we also implement traditional and dynamic rto. The experimental results confirm the in-silico findings that ropa 's performance is similar to dynamic rto 's performance with a much lower computational cost. Additionally, we present some guidelines for ropa 's practical implementation and a theoretical analysis of ropa 's convergence properties. [Display omitted] • rto with persistent parameter adaptation (ropa) is implemented on lab scale plant. • Steady-state and dynamic rto are also implemented for comparison. • ropa avoided ss detection and showed economic performance comparable to drto. • Guidelines for the practical implementation of ropa. • An analysis of ropa convergence to the steady-state optimum is carried out. [ABSTRACT FROM AUTHOR]

The paper presents an empirical analysis of the impact of institutional reform policies and institutional quality on the economic growth of five Western Balkan countries (WB countries: Serbia, Montenegro, Bosnia and Herzegovina, Northern Macedonia and Albania) in the period 2006-2016. It was developed its own model of quantification concerning the impact of the most important indicators of the quality of institutions on the economic growth of these countries, which are in a delayed phase of transition and at some stage in the EU accession process. Achieving high and stable rates of economic growth for WB countries becomes the ultimate prerequisite for completing the EU transition and accession process. In order to improve growth dynamics, among other things, it is necessary to identify key drivers of growth and to model appropriate growth and development policies based on the results obtained. In the paper, WB countries were viewed as a whole. By empirically testing the impact of individual quality indicators of institutions on economic growth, according to the World Bank Governance Indicators methodology by using panel data multiple linear regression analysis, the largest statistically significant and positive impact came from the Government Effectiveness and Regulatory Quality variable. The intensity of the impact of the Control of Corruption and Rule of Law variable on GDP per capita is slightly weaker, but it is also very pronounced. In this respect, the empirical results obtained can be a useful framework for modeling the development policies of WB countries. They represent an important guide for policy makers to implement measures aimed at improving the quality of institutions and at the same time modeling economic growth policies. [ABSTRACT FROM AUTHOR]

• Conceptualization of the notion of 'sustainable' structural change. • Proposal for a methodology to mitigate government failures. • Construction of two composite indicators measuring economic and green performances. • Application to the analysis of the US manufacturing system. With the 2008 economic crisis–and again with the outbreak of the coronavirus emergency in 2020–industrial policy has explicitly reappeared in the political agenda of many countries and regions. A common feature has been the demand and the adoption of selective policies aimed at promoting specific targets of the economy, such as particular industries, technologies, companies, or territories. Nevertheless, the theoretical framework adopted to legitimize and implement public action in this field has not evolved much in the last two decades: it appears weak, too vague, and often anachronistic, increasing the risk of substantial 'government failures'. By focusing on the US manufacturing system, this paper contributes to the political economy stream of the industrial policy literature by proposing new methods to make government intervention more effective, efficient, and oriented towards a sustainable structural change, as defined in the paper. [ABSTRACT FROM AUTHOR]

• Study over Municipal Solid Waste-Income, dataset 103×18, Italian provinces. • Panel threshold, rolling Chow test for structural breaks. • The rolling chow test signs structural breaks in 2008, 2011 and 2013. • 71 provinces have decoupled economic activity from waste production in 2018. Municipal solid waste prevention represents a topical point in circular economy policies within the European Union. It is therefore paramount to assess its state of decoupling from economic activity. There is weak evidence from empirical research that Italy managed to achieve this structural change locally. Decoupling is not arising homogenously in the waste generation-income relationship in Italy over the last two decades. The heterogeneity in economic performances and waste policies could be an explanation. However, it is possible to find common patterns between decoupler against non-decoupler provinces. This paper involves panel data of 103 provinces during eighteen years (2001–2018) of Italian Provinces (NUTS3) to assess the drivers of structural changes in the income-waste relation. The innovation consists of the use of a threshold model to assess the minimal requirements of socio-economic performances to decouple economic activity to non-separated waste. The threshold point differs from the tipping point as it is always observable in the panel. Previous studies mostly estimated the latter involving panel data analysis. This often resulted in fallacious interpretation, especially due to spurious regressions. The observability is a relevant criterion, as several provinces have achieved the decoupling state. Results indicate that economic activity and tourist are relevant threshold variables in waste prevention. Both are sources of local financing; thus, it is probable that circular practices are dependent on the volume of potential expenditure rather than structural characteristics such as population density. [ABSTRACT FROM AUTHOR]

• CO 2 air conditioning systems driven by compressed air engines are designed innovatively. • CO 2 air conditioning system driven by compressed air engine can significantly reduce running costs. • Combination of air conditioning system and compressed air storage is promising. Traditional building air conditioning uses electricity or thermal energy to drive the refrigeration cycle. The energy released by the expansion of compressed air can also be used for driving the refrigeration cycle. Moreover, the expanded low-temperature air can be used in the air conditioning system too. In this paper, three forms of CO 2 air conditioning systems driven by novel reciprocating piston compressed air engines were designed, namely EAGC (Exhaust Air for Gas Cooler), EAS (Exhaust Air for Sub-cooler), and EASC (Exhaust Air for Space Cooling), to analyze the performance and economics of CO 2 air conditioning systems combined with compressed air energy storage technology. Twenty-seven typical cities were selected in different climate regions in China to evaluate the systems' performance and running cost under outdoor temperature changes and different electricity prices. The results show that compared with the electricity-driven CO 2 air conditioning system, the three systems can greatly improve the system COP (Coefficient of Performance) but still cannot reach the performance level of the conventional freon refrigeration systems. However, in cities like Beijing and Shanghai with the large peak-to-valley electricity price difference, EASC system compared to the electricity-driven R410A air conditioning system running costs are lower, the average running cost per hour can be saved 11.96% and 16.35%, respectively. This means that the CO 2 air conditioning system with compressed air energy storage technology has a certain economic application value and can be popularized on reasonable occasions. This innovative system design can help solve the contradiction between supply and demand of building energy, realize leisure energy consumption, and reduce the economic cost of energy consumption on the demand side. [ABSTRACT FROM AUTHOR]

There has been widespread debate about whether the way in which we measure economic activity is fit for purpose in the twenty-first century. One aspect of this debate is to move away from measuring a nation's income (GDP) towards monitoring a nation's assets (their inclusive wealth), as a better indicator of sustainable economic development. We provide the first critical comparison of the approaches of leading international organisations – the World Bank and the United Nations Environment Programme (UNEP) – to estimating changes in wealth. Our paper reveals important inconsistencies in how these organisations measure sustainability and the conflicting messages that policy makers receive, despite a common underlying conceptual framework linking changes in a nation's wealth to future well-being. We attribute these differences to methodological (applied theory) choices made by researchers at the respective institutions. These choices matter. At the most extreme, countries that perform the worst according to the UNEP are shown to perform well according to the World Bank. This confusion in signals makes better policy making more difficult. [ABSTRACT FROM AUTHOR]

• A spatial hoberman radially retractable grid shell is constructed based on its planar version. • Mechanical properties of the grid structures are analyzed for the deployment process and closed configuration. • Parametric analysis of the geometry and topology of the grid structures is performed. • Suggestions on the design of radially retractable grid shell structures are given for better mechanical properties. In this paper, a spatial Hoberman radially retractable grid shell is constructed based on its planar version and the mechanical properties of the grid shell are analyzed using ABAQUS commercial software. The analysis shows that given carefully chosen parameters, the spatial grid shell can meet the requirements of the specification. Based on this, the influence of the number of multi-angulated rods, the number of segments of the multi-angulated rod, and the rise-span ratio on the mechanical performance of the structure are analyzed. The results show that the increase of the number of multi-angulated rods is beneficial to the mechanical properties of the structure, but will have a negative effect on the economic performance. To reach an optimized configuration, it is chosen such that the number of multi-angulated rods is 18, the steel consumption and the structural performance response are smaller. The decrease of the number of segments of the multi-angulated is beneficial to the mechanical properties, service performance, and economic performance of the structure, but considering the feasibility of processing, transportation and the driving condition setting, it is recommended to choose 4 segments of the multi-angulated rod. Higher rise-span ratio is beneficial to the mechanical properties of the structure in the closed state, but will adversely affect the mechanical properties and economic performance during the deployment. [ABSTRACT FROM AUTHOR]

Effective operation and maintenance (O&M) management is significant for enhancing the economic performance of offshore wind farms. Despite recent research progress in O&M, there remains a gap in integrating health prognostics and spare parts inventory into decision-making processes at the scale of offshore wind farms. To bridge this gap, this paper develops an optimisation framework integrating these aspects to establish cost-effective joint maintenance and inventory policies. In the framework, a maintenance policy is firstly developed to plan maintenance actions based on component health and maintenance opportunities. Meanwhile, in order to support maintenance implementation, a multi-echelon inventory network using (s , S) policies is proposed to store diverse units across distinct warehouses. A genetic algorithm (GA) is then employed to identify the optimal policy, aiming to minimise overall costs. Upon developing the optimisation framework, in order to illustrate the application of the proposed approach in practice, a numerical simulation of a generic offshore wind farm in the North Sea is performed. Results demonstrate that comprehensive O&M management considering interrelationship between maintenance and inventory policies reduces overall costs, showcasing its capacity in strengthening the economic performance. Finally, sensitivity analysis is performed to investigate the most influential O&M factors, providing actionable insights for O&M management. • Integrating health prognostics and inventory control into offshore wind farm O&M. • Modelling mutual connection between the maintenance model and the inventory model. • A joint optimisation framework comprehensively capturing costs and production. • Identifying the optimal joint policy to enhance performance of offshore wind farms. • Investigating influences of O&M factors on total costs and policy determination. [ABSTRACT FROM AUTHOR]

Solar forecasting is a rapidly evolving field that can substantially contribute to the effective integration of large amounts of solar photovoltaic (PV) capacity into the electricity system. However, newly developed solar forecasting models are rarely tested in an operational context considering the intended application and objective. Besides, models are typically evaluated considering only technical error metrics, disregarding their economic value. This paper proposes an operational bidding strategy that optimizes the participation of a PV power plant in the electricity spot markets. To this end, a novel multistage stochastic optimization method is developed that considers the day-ahead, intraday, and imbalance markets. As the developed method utilizes a scenario generation algorithm, the proposed method can be adopted for a wide variety of related applications. The performance of the developed method is assessed using technical and economic metrics and compared to a reference method. The results demonstrate the effectiveness of the proposed bidding strategy, as it substantially outperforms the reference market bidding strategy. The findings also provide insights into the value of a multistage bidding method, as extending market participation from the day-ahead to the intraday market increases revenues by 22%, while halving the total imbalance. Additionally, the study examines the relationship between the technical and economic performance of solar power forecasting models, revealing a non-linear correlation. • We develop an operational bidding strategy for PV plant operators participating in electricity spot markets. • The strategy concerns a multistage scenario-based stochastic method. • Time-independent probabilistic solar power forecasts are transformed into interdependent scenarios. • The results are thoroughly evaluated, considering technical and economic metrics. • The application of the method leads to increased revenues and reduced imbalances. [ABSTRACT FROM AUTHOR]

The Allam cycle is a novel oxy-fuel power system that has the potential to achieve efficient negative carbon emissions. Compressed carbon energy storage (CCES) technology could improve the stability of power plants. A biomass gasification Allam cycle combined with the CCES system is proposed and evaluated in this research. The energy efficiency of the Allam-CCES cycle during the charge and discharge time is 36.43 % and 39.45 %, respectively. The round trip efficiency (RTE) of the CCES system is 62.04 %. The exergy destruction of the Allam-CCES system is 317.02 MW. Economic analysis shows that the proposed system has a net present value of 447347.97 k$, implying benefits in economic performance. The total cost rate of the Allam-CCES system is 6959.63 $/h. The influence of the storage pressure on the CCES system is evaluated. The RTE drops from 64.55 % to 61.12 % as the high storage pressure rises. The variation of RTE has a crest when the low storage pressure is near critical pressure. The highest RTE is 90.71 % in the research range of low storage pressure. This paper could provide information on biomass gasification Allam cycle integrated with CCES technology, and offer insights to realize efficient and economic carbon emissions reduction. • Compressed CO 2 energy storage is integrated with biomass gasification Allam cycle. • Thermodynamic and economic performance of the system is assessed. • The effects of energy storage pressure on the system performance are discussed. • The power efficiency during the charge and discharge time is 36.43 % and 39.45 %. • The net present value of the system is 447347.97 k$. [ABSTRACT FROM AUTHOR]

This study evaluates the economic performance of China's East-West pairing-off poverty alleviation, a policy enacted in 2016 aiming to eradicate absolute poverty by 2020 through substantial fiscal transfers from the assisting cities to the assisted impoverished counties. Employing a counterfactual framework and analyzing data from 2013 to 2018, this research assesses the economic performance of China's East-West pairing-off poverty alleviation. Our findings reveal a negative impact of the fiscal pressure burdened by the assisting cities on their economic performance. Meanwhile, the allocation of anti-poverty funds to the assisted counties does not exhibit a significant impact on their economic outcomes. The mechanism analysis suggests that the fiscal pressure experienced by the assisting cities shows negative impacts on fixed assets investment, innovation activities, and economic growth expectations. Further analysis indicates a negative relationship between the policy and the growth of secondary industry and rural income in the eastern regions, while simultaneously identifying a positive impact on the enterprises' financial burden. These results underscore the complex economic trade-offs inherent in poverty alleviation strategy transferring fiscal funds from developed regions to less developed regions and call for a global understanding of pure cash transfer programmes' impacts. • This paper aims to evaluate the economic performance of China's East-West pairing-off poverty alleviation. • Substituting the investments in physical and social infrastructure for pure cash transfers should be emphasized on a global scale. [ABSTRACT FROM AUTHOR]

Scaling up food security innovations in low-income rural environments has often failed to achieve substantive and lasting results. This poor performance can be attributed to dominant, linear approaches associated with spreading innovations which entail technology research and development and subsequent transfer to farmers. Such approaches tend to overlook complexity elements and non-linear processes in smallholder agriculture, including multiple stress factors such as climate variability and economic risks that make the uptake of new agricultural innovations more unpredictable. This article presents programmatic lessons from the Canadian International Food Security Research Fund (CIFSRF) on scaling up. It considers projects that: i) deployed successfully pilot-tested innovations to reach and benefit large numbers of beneficiaries; and projects that ii) used innovations as an entry point to catalyse systematic change in the food and agricultural sector. The paper also outlines several key scaling up principles that can encourage better understanding of relevant socio-ecological dynamics and complexities in intervention areas as a way to support innovations (at scale) that can contribute to more sustainable system outcomes. Finally, the paper reflects on how predominant definitions of impact at scale, centered around rather narrow indicators around economic growth and technology transfer, might consider more holistic goals that encompass integrated agricultural interventions that advance sustainable agri-food system outcomes. [ABSTRACT FROM AUTHOR]

Increasing pressure from governments and stakeholders has motivated the study of sustainability assessment in the supply chain context at operational, tactical, and strategic levels. Several papers have been published during the last two decades, and the number is still rising. Although several authors present complex models that include environmental and social assessment, the applicability and usefulness of these works is often limited by lack of data availability and lack of consensus in what is to be measured on implementations of sustainable practices and strategies. This paper presents a systematic literature review of works addressing the supply chain network design (SCND) problem, in which at least two of the three dimensions of sustainability are assessed. This paper aims to identify indicators that are used when sustainability is evaluated in real applied cases. A total of 113 papers from 2015 to 2018 were selected, including documents studying forward, reverse, and closed loop supply chains (CLSC). Indicators in the economic, environmental, and social dimensions were classified according to an existing framework in the sustainable supply chain literature. The review finds a highlighted emphasis on environmental considerations; social criteria are still hardly studied. The study country origin analysis also shows an increasing concern for sustainable practices in developing economies, mainly in Asia. Finally, this paper presents a brief description of the areas where research opportunities exist, including sectors, measures, and methodologies to assess sustainability in the SCND problem. [ABSTRACT FROM AUTHOR]

This paper presents a techno-economic model based on experimental and market data able to evaluate the profitability of vanadium flow batteries, which are emerging as a promising technology for specific stationary energy services. Models like this are very informative on the present and perspective competitivity of industrial flow batteries in operating specific services, but they have not yet been developed to an accurate grade. This model uses technical parameters which are taken from large-area multi-cell stacks, rather than from small single cell experiments, to better characterize the behavior of real industrial reactors, and from real financial market and economic patterns of some major manufacturers. The model yields economic performance indicators as the capital cost, the operative cost, the levelized cost of storage and the net present value. A prudential present-state and a perspective analysis are elaborated to show where the economic indicators are heading, and which parameters affect more the investment profitability, thus tracking a possible roadmap for system optimization. Perspective estimations indicate that technological and market evolutions are heading to much more competitive systems, with capital costs down to 260 € kWh−1 at a energy/power duration of 10 h, to be compared with a break-even point in the net present value of 400 € kWh−1, which suggests that flow batteries may play a major role in some expanding markets, notably the long duration energy storage. [Display omitted] • A techno-economic model for vanadium redox flow battery is presented. • The method uses experimental data from a kW-kWh-class pilot plant. • A market analysis is developed to determine economic parameters. • Capital cost and profitability of different battery sizes are assessed. • The results of prudential and perspective analyses are presented. [ABSTRACT FROM AUTHOR]

• Monitoring and forecasting performance is a main concern for most companies today. • Business Intelligence (BI) enables to monitor and forecast performance indicators. • There is a lack of approaches automatically dealing with usability indicators. • A BI approach for monitoring and forecasting usability indicators is proposed. • Users evaluated the approach with successful results on usability. Monitoring performance indicators has become a main concern for most organizations today. While much attention has been paid to developing economic, bioinformatics, health, and social media dashboards, little or no attention has been devoted to monitoring and forecasting usability indicators. This can be of interest for analyzing the degree of perceived satisfaction and usability of interactive software products designed or just developed, being also useful as general strategic indicators in human-centered organizations. This paper presents an approach including main measures, Key Performance Indicators, trends, and forecasts to deal with usability information over time and produce new knowledge based on historical data. Also, an instance has been implemented, including data obtained from real software evaluations. Target users have evaluated the approach to validate its suitability, obtaining successful usability results that denote the adequacy of the approach presented. [ABSTRACT FROM AUTHOR]