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Sustainability in the wake of crisis: Transforming climate change-induced disasters into drivers of renewable energy innovation in business 危机后的可持续性:将气候变化引发的灾难转化为企业可再生能源创新的动力
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-24 DOI: 10.1016/j.jebo.2024.106777
Hiva Rastegar , Aymen Sajjad , Gabriel Eweje , Kazunori Kobayashi
This study examines how climate change-induced disasters affect renewable energy innovation in United States-based firms. To this end, we utilized the behavioral theory of the firm and the threat rigidity model to investigate strategic decision-making in the context of environmental crises. We employed a difference-in-differences approach combined with meta-analysis. Further, we analyzed data from 2013 to 2018 and found a significant increase in renewable energy innovation following climatological disasters, marked by an effect size of 0.74. However, firms exceeding their aspiration levels exhibit a smaller impact, reducing the effect on renewable energy innovation by 0.273 units. Additionally, firms with a frequent history of climatological disasters showed a decrease in renewable energy innovation, with an effect size of -0.349. Our research contributes to green innovation literature, particularly to renewable energy innovation discourse under climate challenges. It extends the behavioral theory of the firm to contexts of climatic uncertainty and applies the threat rigidity model to determine organizational adaptation. The study introduces a novel moderator: the firm's history of natural disasters, linking firm age with disaster frequency and severity. These insights are vital for enhancing strategic decision-making in the business and policy-making contexts, amidst the growing climate change challenges.
本研究探讨了气候变化引发的灾害如何影响美国公司的可再生能源创新。为此,我们利用企业行为理论和威胁刚性模型来研究环境危机背景下的战略决策。我们采用了差分法与元分析相结合的方法。此外,我们分析了 2013 年至 2018 年的数据,发现气候灾害发生后,可再生能源创新显著增加,效应大小为 0.74。然而,超过其期望水平的企业表现出的影响较小,对可再生能源创新的影响减少了 0.273 个单位。此外,经常遭受气候灾害的企业的可再生能源创新能力也有所下降,效应大小为-0.349。我们的研究为绿色创新文献,尤其是气候挑战下的可再生能源创新论述做出了贡献。它将企业行为理论扩展到气候不确定性背景下,并应用威胁刚性模型来确定组织适应性。研究引入了一个新的调节因素:企业的自然灾害历史,将企业年龄与灾害频率和严重程度联系起来。在气候变化挑战日益严峻的情况下,这些见解对于加强企业和政策制定方面的战略决策至关重要。
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引用次数: 0
On the emergence of international currencies: An experimental approach 关于国际货币的出现:实验方法
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-23 DOI: 10.1016/j.jebo.2024.106744
Marcos Cardozo , Yaroslav Rosokha , Cathy Zhang
We integrate theory and experimental evidence to study the emergence of different international monetary arrangements based on the circulation of two intrinsically worthless fiat currencies as media of exchange. Our framework is based on a two-country, two-currency search model where the value of each currency is jointly determined by private agents’ decisions and monetary policy formalized as changes in a country’s money growth rate. Results from the experiments indicate subjects coordinate on a regime where both currencies are accepted even when other regimes are theoretically possible. At the same time, we find the acceptance of foreign currency depends on relative inflation rates where sellers tend to reject payment with a more inflationary foreign currency. We also document the presence of learning in shaping acceptance patterns over time.
我们将理论与实验证据相结合,研究了基于两种内在无价值的法定货币作为交换媒介流通的不同国际货币安排的出现。我们的框架基于一个两国、两种货币的搜索模型,在这个模型中,每种货币的价值由私人代理人的决策和货币政策共同决定,货币政策被正式表述为一国货币增长率的变化。实验结果表明,即使理论上存在其他可能的制度,受试者也会在两种货币都被接受的制度上进行协调。同时,我们发现外币的接受取决于相对通胀率,卖方倾向于拒绝接受通胀率较高的外币付款。我们还记录了学习在塑造接受模式中的作用。
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引用次数: 0
Backlash against expert recommendations: Reactions to COVID-19 advice in Latin America 对专家建议的反弹:拉丁美洲对 COVID-19 建议的反应
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-23 DOI: 10.1016/j.jebo.2024.106752
Facundo Albornoz , Nicolas Bottan , Guillermo Cruces , Bridget Hoffmann , María Lombardi
Public adherence with health recommendations is vital for effective crisis response. During the COVID-19 pandemic, governments faced considerable challenges in persuading the public to adopt new recommendations. Using large-scale survey experiments across 12 Latin American countries, we investigate how respondents’ agreement with health recommendations is affected by their attribution to experts from different sectors. Our results uncover a robust backlash against experts for pandemic-specific recommendations, but not for more general health advice. The backlash does not depend on the type of expert (academic, public or private sector). Our experimental setup allows us to concurrently assess the significance of different factors behind these results. Anti-intellectualism plays a role, since individuals with low initial trust in experts exhibit more negative reactions to expert attribution, although the backlash is also present for those with higher levels of trust, indicating that other factors likely play a role. We fail to find evidence that individual perceptions or personality traits such as social pressure, altruism or reactance contribute to the backlash. Beyond individual characteristics, we find that the backlash is stronger in countries that exhibited a more stringent government response to the pandemic.
公众遵守健康建议对于有效的危机应对至关重要。在 COVID-19 大流行期间,政府在说服公众采纳新建议方面面临着相当大的挑战。通过在 12 个拉美国家进行大规模调查实验,我们研究了受访者对健康建议的认同度如何受到来自不同领域专家的影响。我们的结果表明,对于针对大流行病的建议,专家会受到强烈的反弹,而对于更一般的健康建议,则不会。这种反弹并不取决于专家的类型(学术界、公共部门或私营部门)。我们的实验设置允许我们同时评估这些结果背后不同因素的重要性。反智主义起了一定作用,因为最初对专家信任度较低的人对专家归因表现出更多负面反应,尽管信任度较高的人也会出现反弹,这表明其他因素可能也起了一定作用。我们没有发现证据表明个人认知或个性特征(如社会压力、利他主义或反应性)会导致反弹。除了个人特征之外,我们还发现,在政府对大流行病采取更严格应对措施的国家,反冲力更强。
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引用次数: 0
Local far-right demonstrations and nationwide public attitudes towards migration 地方极右翼示威和全国公众对移民的态度
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-23 DOI: 10.1016/j.jebo.2024.106766
Teresa Freitas-Monteiro , Christopher Prömel
One of the primary objectives of protests and demonstrations is to bring social, political, or economic issues to the attention of politicians and the wider population. While protests can have a mobilising and persuading effect, they may reduce support for their cause if they are perceived as a threat to public order. In this study, we look at how local or spontaneously organised right-wing xenophobic demonstrations affect concerns about hostility towards foreigners and worries about immigration among natives in Germany. We use a regression discontinuity design to compare the attitudes of individuals interviewed in the days immediately before a large far-right demonstration and individuals interviewed in the days immediately after that demonstration. Our results show that large far-right demonstrations lead to a substantial increase in worries about hostility towards foreigners of 13.7% of a standard deviation. In contrast, worries about immigration are not affected by the demonstrations, indicating that the protesters are not successful in swaying public opinion in their favour. In the heterogeneity analyses, we uncover some polarisation in the population: While worries about hostility against foreigners increase and worries about immigration decrease in left-leaning regions, both types of worries increase in districts where centre-right parties are more successful. Lastly, we also show that people become more politically interested in response to protests, mainly benefiting left-wing parties, and are more likely to wish to donate money to help refugees.
抗议和示威的主要目的之一是引起政治家和广大民众对社会、政治或经济问题的关注。虽然抗议活动可以起到动员和说服的作用,但如果抗议活动被视为对公共秩序的威胁,则可能会减少人们对其事业的支持。在本研究中,我们探讨了地方或自发组织的右翼仇外示威如何影响德国本地人对外国人的敌意和对移民的担忧。我们采用回归不连续设计,比较了在大型极右翼示威活动前几天和示威活动后几天受访者的态度。我们的研究结果表明,大规模极右翼示威活动导致对外国人敌意的担忧大幅上升,上升幅度为 13.7% 的标准差。相比之下,对移民的担忧则不受示威活动的影响,这表明示威者并没有成功地左右公众舆论,使之对他们有利。在异质性分析中,我们发现了一些两极分化的现象:在左翼地区,对外国人敌意的担忧会增加,对移民的担忧会减少,而在中右翼政党更成功的地区,这两种担忧都会增加。最后,我们还表明,人们会因抗议活动而对政治更感兴趣,这主要有利于左翼政党,而且更有可能希望捐款帮助难民。
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引用次数: 0
Productivity performance, distance to frontier and AI innovation: Firm-level evidence from Europe 生产力绩效、前沿距离和人工智能创新:欧洲企业层面的证据
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-22 DOI: 10.1016/j.jebo.2024.106762
Larissa da Silva Marioni , Ana Rincon-Aznar , Francesco Venturini
Using firm-level data from 15 European countries between 2011 and 2019, this paper examines the productivity effect associated with the development of Artificial Intelligence (AI), measured by patenting success in AI fields. By making advances in AI and expanding on their knowledge base, companies can optimise production tasks, and improve resource utilisation, ultimately leading to higher levels of efficiency. To investigate this, we develop a two-fold panel regression analysis estimated within a Difference-in-Differences (DiD) framework. First, we investigate whether firms that engage in AI innovation experience a productivity boost after developing the new technology, compared to similar firms which do not undertake AI innovation. To analyse this, we employ a novel event-analysis methodology that quantifies the effect of the treatment (AI innovation) on firm performance (productivity) using a Local Projections approach within the DiD setting. Second, we utilise a Distance-to-Frontier (DTF) regression framework in order to examine whether the productivity premium of AI is associated with a firm’s ability to absorb knowledge and learn from the technologies developed by market leaders. Our findings reveal that the productivity gains directly associated with AI are statistically significant and quantitatively important, ranging between 6.2 and 17% in the event analysis, and between 2.1 and 6% in the DTF framework. We also provide some evidence that the productivity benefits of AI might be greater for those firms further away from the frontier (between 0.3 and 0.7%). Our research demonstrates that Artificial Intelligence can play a crucial role in enhancing firm productivity in Europe, a result that is evident even in these early stages of the technology’s life cycle.
本文利用 2011 年至 2019 年期间 15 个欧洲国家的企业级数据,研究了与人工智能(AI)发展相关的生产力效应,该效应以人工智能领域的专利申请成功率为衡量标准。通过在人工智能领域取得进步并扩大知识基础,企业可以优化生产任务,提高资源利用率,最终实现更高的效率水平。为了研究这一点,我们在差分法(DiD)框架内进行了两方面的面板回归分析。首先,我们研究了与没有进行人工智能创新的类似企业相比,进行人工智能创新的企业在开发新技术后是否会提高生产率。为了分析这一点,我们采用了一种新颖的事件分析方法,利用 DiD 环境下的局部预测法量化处理(人工智能创新)对企业绩效(生产率)的影响。其次,我们利用 "前沿距离"(DTF)回归框架,研究人工智能的生产率溢价是否与企业吸收知识和学习市场领导者开发的技术的能力有关。我们的研究结果表明,与人工智能直接相关的生产率收益在统计上是显著的,在数量上也是重要的,在事件分析中介于 6.2% 到 17% 之间,在 DTF 框架中介于 2.1% 到 6% 之间。我们还提供了一些证据,表明人工智能对那些离前沿更远的企业来说,生产率收益可能更大(在 0.3% 到 0.7% 之间)。我们的研究表明,人工智能可以在提高欧洲企业生产率方面发挥关键作用,即使在该技术生命周期的早期阶段,这一结果也是显而易见的。
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引用次数: 0
Not all about the money: Service quality information improves consumer decision-making 不全是钱的问题:服务质量信息改善消费者决策
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-21 DOI: 10.1016/j.jebo.2024.106769
Janneke Blijlevens , Swee-Hoon Chuah , Ananta Neelim , Johanna E. Prasch , Ahmed Skali
Information asymmetries are pervasive in many industries and can result in large losses in consumer welfare. Does providing product quality information result in improved consumer decision-making? We study this question in a market where quality is notoriously hard to determine ex ante: the residential energy market. Using a discrete choice experiment (N = 1,002), we document a substantial willingness-to-pay (37–45 % of the median bill) for four service quality attributes (transparency, agency, authenticity, and convenience). In an incentivized search task (N = 432), we show that how quality information is presented matters: consumers who view information in the form of ratings and stamps of approval are (i) 4 % more likely to opt in to the search task, and (ii) 20 % more likely to correctly identify given levels of quality, relative to consumers who are provided with bar graphs, pie charts, and text. Finally, using a decision experiment (N = 510) with real company names familiar to our participants, we find that the provision of quality information increases choices of the best-rated company more than 20-fold, relative to the control scenario where quality information is absent, in which consumers select companies predominantly on price and brand awareness. Our findings are applicable to other markets in which information asymmetries are present, where policymakers should consider interventions that promote transparency and quality information provision.
信息不对称在许多行业都普遍存在,并可能导致消费者福利的巨大损失。提供产品质量信息是否会改善消费者的决策?我们在一个很难事先确定产品质量的市场中研究了这个问题:住宅能源市场。通过离散选择实验(N = 1,002),我们记录了消费者对四种服务质量属性(透明度、代理、真实性和便利性)的巨大支付意愿(账单中位数的 37-45%)。在一项激励搜索任务(N = 432)中,我们发现质量信息的呈现方式非常重要:相对于条形图、饼状图和文本,以评级和认可印章形式查看信息的消费者(i)选择参与搜索任务的可能性高出 4%,(ii)正确识别特定质量水平的可能性高出 20%。最后,我们利用参与者熟悉的真实公司名称进行了一次决策实验(N = 510),结果发现,相对于没有质量信息的对照情景(消费者主要根据价格和品牌知名度来选择公司),提供质量信息会使消费者对最佳评级公司的选择增加 20 倍以上。我们的研究结果适用于存在信息不对称的其他市场,在这些市场中,政策制定者应考虑采取干预措施,促进透明度和质量信息的提供。
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引用次数: 0
Hospital capacity reporting in Germany during Covid-19 德国在 Covid-19 期间的医院能力报告
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-21 DOI: 10.1016/j.jebo.2024.106730
Simon Reif, Sabrina Schubert
During the COVID-19 pandemic, hospitals faced a unique predicament. Hospital care was urgently needed and society took efforts to prevent overwhelming hospitals. However, hospitals in case-based reimbursement schemes faced financial problems because of canceled elective care visits and government regulations to keep capacity free for Covid-19 patients. Therefore, emergency financing measures were implemented in many countries. We analyze how hospitals in Germany responded to a scheme that provided financial support if the intensive care unit (ICU) occupancy rate in a county exceeded 75%. The scheme distributed over seven billion euros to hospitals and was notable because financial support depended on a measure (ICU occupancy rate) that hospitals could directly influence. To analyze hospitals’ reactions to this scheme, we employ event study analyses comparing ICU capacity before and after regions became eligible. We find no evidence of strategic reporting at an economically meaningful and hence empirically detectable scale.
在 COVID-19 大流行期间,医院面临着独特的困境。医院急需护理,社会努力防止医院不堪重负。然而,由于取消了择期就诊,以及政府规定要为 Covid-19 病人保留空闲床位,实行病例报销制度的医院面临着财务问题。因此,许多国家实施了紧急融资措施。我们分析了德国的医院是如何应对一项计划的,该计划规定,如果一个县的重症监护室(ICU)占用率超过 75%,医院将提供财政支持。该计划向医院发放了 70 多亿欧元,其显著特点是财政支持取决于医院可以直接影响的指标(重症监护室入住率)。为了分析医院对该计划的反应,我们采用了事件研究分析法,比较了各地区获得资格前后的 ICU 容量。我们没有发现任何证据表明,在有经济意义的范围内存在战略性报告,因此在经验上也无法检测到。
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引用次数: 0
Who is to suffer? Quantifying the impact of sanctions on German firms 谁会受害?量化制裁对德国企业的影响
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-18 DOI: 10.1016/j.jebo.2024.106767
Holger Görg , Anna Jacobs , Saskia Meuchelböck
In this paper, we use a novel firm level dataset for Germany to investigate the effect of sanctions on export behaviour and performance of German firms. More specifically, we study the sanctions imposed by the EU against Russia in 2014 in response to the annexation of Crimea and Russia’s countermeasures. We find a substantial negative effect on both the extensive and intensive margin of German exports. While the negative effects are strongest for firms exporting products subject to trade restrictions, we provide further evidence on the indirect effects of sanctions. Analysing the impact on broader measures of firm performance, we document that the cost of sanctions is heterogeneous across firms but overall modest. Our results reveal that the negative impact of the shock was concentrated primarily among a small number of firms that were highly dependent on Russia as an export market and those directly affected by the sanctions.
在本文中,我们使用一个新颖的德国企业级数据集来研究制裁对德国企业出口行为和绩效的影响。更具体地说,我们研究了 2014 年欧盟针对俄罗斯吞并克里米亚实施的制裁以及俄罗斯的反制措施。我们发现,制裁对德国出口的广阔边际和密集边际都产生了巨大的负面影响。虽然对出口受贸易限制产品的企业的负面影响最大,但我们提供了制裁间接影响的进一步证据。通过分析制裁对更广泛的企业绩效衡量指标的影响,我们发现制裁的成本在不同企业之间存在差异,但总体上并不高。我们的结果表明,制裁冲击的负面影响主要集中在少数高度依赖俄罗斯作为出口市场的企业和直接受制裁影响的企业。
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引用次数: 0
Highway havens for hidden horrors: Expressway connections and child trafficking in China 隐藏恐怖的高速公路避风港:高速公路连接线与中国的儿童贩运
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-18 DOI: 10.1016/j.jebo.2024.106765
Xinyan Liu , Yu Bai , Yanjun Li , Yajie Sun
Child trafficking is a deep-seated social issue with enduring consequences that remain concealed or less obvious to the general public. We argue that the intensity of child trafficking increases as an indirect and unintended consequence of improved urban infrastructure, such as the construction of highways that facilitate the expedient transfer of victims between cities. To establish a causal relationship, we analyze data on child abduction and combine it with geo-referenced information on China’s highway routes. Using a staggered difference-in-differences approach and a city-to-city analysis, we find that the construction of highways in a city significantly leads to an increase in abducted children. Changes in both demand and supply factors following the highway construction could explain the increase in child trafficking.
贩卖儿童是一个根深蒂固的社会问题,其持久的后果仍然被掩盖着,或者说对公众来说不太明显。我们认为,拐卖儿童现象的加剧是城市基础设施改善的间接和意外后果,例如高速公路的建设方便了受害者在城市间的快速转移。为了建立因果关系,我们分析了拐卖儿童的数据,并将其与中国高速公路路线的地理参考信息相结合。通过交错差分法和城市间分析,我们发现一个城市的高速公路建设会显著导致被拐儿童的增加。高速公路建设后供需两方面因素的变化可以解释拐卖儿童现象的增加。
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引用次数: 0
Moral bandwidth and environmental concerns during a public health crisis: Evidence from Germany 公共卫生危机期间的道德带宽和环境问题:来自德国的证据
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2024-10-17 DOI: 10.1016/j.jebo.2024.106753
Julia Berazneva , Daniel Graeber , Michelle McCauley , Sabine Zinn , Peter Hans Matthews
Did the COVID-19 pandemic crowd out environmental concerns, as one might expect if “pools of worry” were finite or “moral bandwidth” was limited? We use Chancellor Angela Merkel’s address to the German nation on 18 March 2020 as the threshold in a regression discontinuity in time (RDiT) to evaluate the effects of an increase in COVID-based economic and health concerns on the climate and environmental concerns of respondents to the German Socio-Economic Panel (SOEP). We find no evidence of crowding out – there is even some indication that environmental concerns increased, especially on the intensive margin – and show that this result survives various robustness checks. We also share some evidence that the treatment effects are heterogeneous: the concerns of older and more patient Germans, as well as those who report more social trust, increased relative to other groups. This is consistent with the absence of bandwidth constraints, but other interpretations – hierarchical or complementary concerns, for example – are also possible.
如果 "担忧池 "是有限的,或者 "道德带宽 "是有限的,那么 COVID-19 大流行是否会挤掉人们对环境的担忧?我们以德国总理默克尔 2020 年 3 月 18 日对德国全国发表的讲话作为时间不连续回归(RDiT)的临界点,来评估基于 COVID 的经济和健康问题的增加对德国社会经济调查小组(SOEP)受访者的气候和环境问题的影响。我们没有发现挤出效应的证据--甚至有一些迹象表明环境问题有所增加,尤其是在密集边际--并表明这一结果经受住了各种稳健性检验。我们还分享了一些证据,表明治疗效果是异质性的:相对于其他群体,年龄更大、更有耐心的德国人以及报告社会信任度更高的德国人所关注的问题有所增加。这与缺乏带宽限制是一致的,但也可能存在其他解释--例如,分级或互补性关注。
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引用次数: 0
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Journal of Economic Behavior & Organization
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