On the other hand, climate mitigation policy such as the Paris Climate Agreement is often evaluated by balancing the costs of its implementation against the benefits of avoiding projected physical damages. This evaluation occurs both formally through cost–benefit analyses1,4,5,6, as well as ...
Such a move concerns potentially all firms (not only traded industries) as long as business owners find the fragmentation of production more cost-effective. Firms in advanced countries may “outsource” particular stages of production to less developed countries; these stages seem less skill-intensive...
Hence, the guiding principle for the economic diplomacy of modern Western powers can be described as conditional on not violating human rights. Given its international orientation and overall strategic national goals, China's economic diplomacy cannot replicate the doctrines of Western powers. However, ...
In a similar direction, agent-based-modelling approaches for estimating the economic cost of the failure of a group of firms, known as regional adaptive input output models, have been developed in the context of (natural) disaster impact assessment22,36,37,38. Works of this kind demonstrate ...
The control variables included have an impact on the risk of internal conflict by influencing the opportunity cost of engaging in conflict and shaping incentives forcollective action. Some variables, such as the stageof economic development, human capital, and institutional capacity (measured by the ...
For weeks, Powell has portrayed the Fed's drive to raise interest rates as consistent with a so-called “soft landing” for the economy. Under that scenario, the Fed would manage to tighten borrowing costs enough to cool the economy and curb inflation without going so far as to ...
each individual or entity in the best way while minimizing waste and inefficiency. When an economy is economically efficient, any changes made to assist one entity would harm another. In terms of production, goods are produced at their lowest possible cost, as are the variable inputs of ...
B) the marginal cost. C) opportunity cost. D) an incentive. Answer: D Topic: Incentive Skill: Recognition Status: Previous edition, Chapter 1 AACSB: Reflective Thinking 18) Economics is best defined as A) how people make money and profits in the stock market. B) making choices from an ...
If societies aim for a reduction of the public sector and make adaptation an increasingly private sector task, adaptation actions will naturally focus on actions where private rather than societal cost–benefit ratios are high. Private interest and resources can be mobilized for profitable investments,...
An OPF can be described as the minimisation of real power generation cost in an interconnected power system while real and reactive power, transformer taps and phase-shift angles are controllable and various inequality constraints are required [32]. Its procedure consists of methods of employing ...