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This paper examines the role of experience in determining the deterrent effect of criminal punishment. Economic models of crime typically assume potential offenders know the probability of apprehension. Thus, neither the individual's personal experience of being caught and punished nor the observation of someone else's punishment experience affects that individual's future behavior. This paper incorporates a role for experience in determining criminal activity, distinguishing between (1) how individuals form perceptions of the probability of punishment, including how those perceptions are influenced by what they experience or observe, and (2) how those perceptions, once formed, influence their decisions about criminal activity. [ABSTRACT FROM AUTHOR]

In the process of the district energy system (DES) operation and dispatching, there are various uncertainties brought by the strong coupling of equipment and the fluctuation of internal and external surroundings, and these uncertain parameters are often correlated. In this paper, an improved affine arithmetic‐based method is proposed to solve the economic dispatching problem of DES with correlated uncertainties. First, an optimal dispatching model considering economic and environmental factors is constructed. An affine algorithm is introduced and interval arithmetic is used to improve the problem of interval extension and high‐order noise element. Taking a classical DES system as an example, the optimal dispatching of the system is analyzed using deterministic method, interval method, and proposed method. The application effect of the proposed method under different uncertainties scale and amplitude is also discussed. The results show that the proposed method can effectively reduce the width of target value interval compared with the traditional interval optimization method, which can further contribute to the optimal operation decision. [ABSTRACT FROM AUTHOR]

Regional inequality in the process of economic growth has recently been a popular topic. This paper creatively proposes contribution decomposition methods to divide various regions' contributions into economic contribution and population contribution. The methods consider not only economic growth but also population change, which may be more effective than the traditional method that uses the per capita GDP (gross domestic product) as its single measurement indicator. Moreover, the objective is to take a step forward and reveal the spatio‐temporal evolution characteristics of regional disparities by integrating barycentre model and economic development equilibrium model. Lastly, the applicability of the research method proposed in this paper is verified by a case study of Jiangsu province, China; the results show a new regional economic pattern in Jiangsu province. [ABSTRACT FROM AUTHOR]

In this paper we argue that it is necessary to apply economic impact models in smart specialization policy in order to come up with reliable economic impact estimations. Solutions suggested in the smart specialization (S3) literature for economic impact assessments cover the economic effects only partially. To estimate the impacts in the industrial, regional and national dimensions in their entirety the application of specifically designed economic models becomes necessary. We extended the geographic macro and regional (GMR)‐Hungary policy impact model with additional features to make this model applicable for S3 economic impact estimations. In our policy simulations we illustrate how the application of this model helps policy‐makers in the prioritization process. [ABSTRACT FROM AUTHOR]

This paper presented a scenario-based robust distributed generation investment planning (DGIP) model, which considered the uncertainties of wind turbine (WT) generation, photovoltaic (PV) generation and load demand. The robust economic model aims to maximize the net present value (NPV) from the distribution network operator's (DNO's) perspective. The uncertainties are described by an uncertainty matrix based on a heuristic moment matching (HMM) method that captures the stochastic features, i.e. expectation, standard deviation, skewness and kurtosis. The notable feature of the HMM method is that it diminishes the computational burden considerably by representing the uncertainties through a reduced number of representative scenarios. The uncertainty matrix is integrated with deterministic power flow equations to formulate a cost-benefit analysis based robust DGIP model with the objective of maximizing the DNO's net present value. The effectiveness of the proposed DGIP model is firstly verified in a 53-bus distribution test feeder, and then its scalability is further validated in a 138- bus distribution network. The numerical results confirm that the proposed DGIP solution is more robust for all representative network scenarios against the deterministic solution. [ABSTRACT FROM AUTHOR]

The paper presents the newly developed dynamic spatial general equilibrium model of European Commission, RHOMOLO, and proposes its future extensions. The model incorporates several elements from economic geography in a novel and theoretically consistent way. It describes the location choice of different types of agents and captures the interplay between agglomeration and dispersion forces in determining the spatial equilibrium. The model is also dynamic as it allows for the accumulation of factors of production, human capital and technology. This makes RHOMOLO particularly suited for simulating policy scenario related to the EU cohesion policy and for the analysis of its impact on the regions and the Member States of the union. [ABSTRACT FROM AUTHOR]

Abstract: Under random environment, the balance survey is difficult in many fields, such as in the industrial structure, the economics, and the society. In this paper, we study the random dynamic input‐output model with consumption, in which the time‐delay is one; and analyze the existence of the balanced growth solution by the theory of Markov processes. We present a new criterion of the imbalanced survey, which is a positive right eigenvector of the expectation of a matrix associated with the input‐output model. We also will prove that the collapse time is finite almost surely, which indicates that the random dynamic input‐output model does not possess a balanced growth solution, and consequently, the economic system must be adjusted constantly. [ABSTRACT FROM AUTHOR]

The lack of subnational trade data has dampened the development of reliable regional and multiregional models for regional policy development. So, most researchers and vendors of regional and interregional economic models continue to rely on location quotients, supply–demand pool techniques, or minor modifications of them, despite knowing that they under‐estimate interregional trade. In this piece, we analyse the relative viability of estimates of intraregional trade—so called "regional purchase coefficients" (RPCs). We do so for manufacturing sectors in 28 EU countries using the World Input–Output Database. We introduce an RPC‐estimating technique using a quasi‐binomial regression approach for goods‐producing industries; we apply standard supply/demand ratios as RPCs for service‐based industries. We then apply the estimates to an aggregate EU input–output (I‐O) table and measure how closely the results approximate the I‐O tables (direct requirements matrices) for each of the 28 EU nations. We compare these findings to those obtained by other conventional approaches. We also evaluate their ability to replicate the country Leontief inverses and output multipliers. We find quasi‐binomial regression approaches superior across the board. [ABSTRACT FROM AUTHOR]

Models to estimate economic impacts of disasters have recently been augmented to include resilience. However, most research has incorporated only a limited set of resilience tactics and has not estimated their individual loss reduction effect. We present a comprehensive framework for estimating the relative effects of a broad set of post‐disaster resilience tactics. Our methodological innovation is illustrated by adapting the TERM multi‐regional CGE model for a seaport disruption, distinguishing inherent resilience working through the price system from adaptive resilience and other inherent tactics to cope with input shortages. We also overcome a path‐dependency problem in the modelling process. [ABSTRACT FROM AUTHOR]

This book is especially valuable for its policy evaluation studies based on both theoretical models for policies carried out at the national and regional levels and for gathering policy evaluation studies in diverse economic and environmental contexts. Because Asian countries are diversified, as they have their own cultural, historical, geographical, and political conditions, planners and policy-makers need a comprehensive evaluation of place-based policies to face the specific different problems of these regions. In the last decades, Asian countries have experienced rapid economic development and growth, generating a variety of economic, social, and environmental issues. [Extracted from the article]

We investigate how R&D networks impact regional innovation, considering alternative connectivity structures based on co‐publications, co‐inventions and projects supported by the EU‐FP. Patent activity impacts on ICT during 2003–2009 for 213 European regions are quantified using a spatial Durbin model. Findings indicate that local knowledge flows to proximate regions are influenced by: proximate regions that are not collaboration partners, proximate collaboration partners, and distant collaboration partners. Evidence on the role of distant collaboration partners is found only for co‐invention networks. [ABSTRACT FROM AUTHOR]