Search
Search Results
-
Human rationality, environmental challenges and evolutionary game theory
15-19Views:281In recent years, game theory is more often applied to analyse several sustainable development issues such as climate change and biological diversity, but the explanations generally remain within a non-cooperative setting. In this paper, after reviewing important studies in this field, I will show that these methods and the assumptions upon which these explanations rest lack both descriptive accuracy and analytical power. I also argue that the problem may be better investigated within a framework of the evolutionary game theory that focuses more on the dynamics of strategy change influenced by the effect of the frequency of various competing strategies. Building on this approach, the paper demonstrates that evolutionary games can better reflect the complexity of sustainable development issues. It presents models of human – nature and human – human conflicts represented by two-player and multi-player games (with a very large population of competitors). The benefit in these games played several times (continuously) will be the ability of the human race to survive. Finally, the paper attempts to identify and classify the main problems of sustainable development on which the game theory could be applied and demonstrates that this powerful analytical tool has many further possibilities for analysing global ecological issues.
-
Optimal crop plan of cooperative farmers in Osun state, Nigeria: a linear programming approach
Views:375Optimal level of production requires better use of existing resources at the lowest possible cost. Despite the inherent advantage of cooperatives to the agricultural sector, the question of how farmers under cooperative umbrella use farm resource for optimal outcome remains unanswered. This study investigates optimal crop mix for cooperative farmers in rural communities in Southwest Nigeria. Primary data were collected for the study through structured questionnaire. The data were fitted to Linear Programming Model. Three different cropping patterns are identified among the cooperative farmers. Based on the results from linear programming model, only maize, cassava and yam are admitted in the final plan and this combination is to be produced at 2.23 hectares. The gross margin value associated with the plan is ₦156, 235.781 (1$ = N365). Input resources such as land, labour, fertilizer, and chemicals are not fully utilized. The slack values for these inputs are 0.31, 651.20, 1929.6 and 140.76 respectively. The sensitivity analysis shows that seed/seedling is the only binding resource in the final plan with a shadow price which suggests that proper allocation of seed and seedlings would improve returns to cooperative farmers. There is need for appropriate farm management strategies to ensure optimal return for farmers. More education and training is suggested to boost cooperative farmers understanding of optimum strategy that is needed to improve production and earnings.
JEL code: Q10, Q13
-
Comparing the levels of expectation and satisfaction of Indian and foreign adventure tourists visiting India
5-13Views:605Purpose – The present study is undertaken to explore the difference between expectation and satisfaction level of Indian and foreign adventure tourists and the relationship between the levels of expectation and satisfaction of Indian and foreign adventure tourists.
Methodology – The data has been gathered from a sample of 300 adventure tourists comprising of 150 Indians and 150 foreigners. A principal component analysis with varimax rotation has identified 28 relevant items, which are broadly clustered into 6 significant factors. They are labeled as Aesthetic Appeal, Facilities, Accommodation, Information, Food and Safety and Security.
Findings – The findings of this study revealed significant differences between the levels of expectation and satisfaction of adventure tourists of Indian and foreign origin. The level of expectation among the Indian and foreign adventure tourist is higher and, comparatively, the level of satisfaction is lower. The level of expectation and the level of satisfaction of Indian adventure tourists are positively and significantly correlated with respect to variables such as Aesthetic Appeal, Facilities, Safety and Security and Accommodation. For the foreign adventure tourist, the level of expectation and level of satisfaction are positively and significantly correlated with respect to variables such as Information, Aesthetic Appeal, Facilities and Food.
Practical Implications – The research findings will help in the promotion of adventure tourism in India.
Originality/ Value – The identified factors can be used for similar kinds of studies at different destinations. The results of the study would be instrumental in developing strategies for ensuring more satisfied tourists. -
HOW TO INCREASE WORKFLOW EFFICIENCY FOR MICRO AND SMALL BUSINESSES WITH A CUSTOM-BUILT MOBILE APP IN HUNGARY - A CASE STUDY FOR A LANGUAGE LEARNING SCHOOL
Views:301The increasing availability of information and communication technology (ICT) has boosted interest in ICT-based microservices. Limited research examines the efficacy of ICT-based microservices and administrative burden-alleviating solutions for small and medium enterprises (SMEs) within a domestic context. This study investigated the potential of such solutions through a case study on a custom language training SME. Key workflows with administrative burdens were identified using an expert interview, leading to the design and development of a custom mobile application. The researchers developed an easily adaptable, general-purpose layer structure during the development process. Results suggest automating essential, low-cost elements of SMEs' internal and external processes through digitalisation and on-demand support can increase competitiveness and employee satisfaction. Further research with a larger sample size could solidify these initial findings and inform broader SME development strategies. Additionally, investigating the long-term impact on factors like employee skill development and customer satisfaction would provide valuable insights for SMEs considering such solutions.
-
Analysis of the process of introducing euro in new member states: Defining lessons for Croatia case study: Slovenia
93-94Views:282On 1 May 2004, EU made a historical enlargement by expanding from 15 to 25 members, and with another enlargement in 2007, EU is now a union of 27 member states. Following the new member states accession to the EU the next challenge for them is joining European Monetary Union and introducing the euro as a national legal currency. This thesis concentrated on the analysis on how the new member states handle the process of joining the Euro-zone with the main objective to examine whether there are any possible lessons that Croatia can apply to its EMU integration path. The thesis is mainly focused on analysing the Slovenian EMU integration process, as this member state has been identified by the Croatian Authorities and Croatian National Bank as the one whose experience Croatia should try to follow. The central questions that are discussed are weather Croatia is economically and politically capable to follow the Slovenian example, and, on the other side, weather the Slovenian example is the best one to follow i.e. should Croatia introduce euro by using the quick EMU entry strategy as Slovenia did. In order to answer those questions thesis focused on analysing and explaining different strategies for euro adoption chosen by the new member states with special emphasis on the strategy of quick EMU entry approach chosen by Slovenia. The thesis also concentrated on analysing the Slovenian political and economical path from Yugoslavia to the EU and especially on its economic performance and key economic indicators prior to introducing euro. Finally, with the aim to compare the economic performance between Slovenia and Croatia and define similarities/differences in their transition and EU accession process, the thesis gave a detailed overview of the Croatian current economical and political situation. After brief analysis of all pros and cons of an early euro adoption, the thesis concluded that following the experiences of small sized countries with opened economies and strong trade orientation towards the countries of the Euro-zone, such Slovenia is, would be a comprehensive and logical strategy for Croatia. Early euro adoption would provide more benefits than costs for Croatian economy and society in general. The thesis also concluded that Croatia should face no major problems when it comes to fulfilling most of the Maastricht criterion on time, in order to be able to adopt the euro in the shortest possible period as Slovenia did. However, the thesis also highlighted that in order to do so Croatia has to put a serious emphasis on improving certain aspects of its current macroeconomic situation, in particular the one concerning the percentage of state sector deficit in the GDP and the size of public debt.
-
PHARMA SUPPLY CHAIN RESILIENCE. A SYSTEMATIC REVIEW
Views:335This study offers a thorough exploration of critical consideration of resilience in pharmaceutical supply chains, aiming to provide a comprehensive overview of the existing literature on this subject. Given the increasing globalization, regulatory complexities, and disruptions, the pharmaceutical industry encounters unique challenges in maintaining the business continuity of supply chains. Design/Methodology/Approach: We conducted a systematic analysis of 41 documents, including articles, reviews, and conference papers, employing bibliometric methods to visualize the dataset. Findings: Our findings indicate a notable increase in literature in recent years, particularly concerning risk mitigation strategies, collaboration among supply chain stakeholders, and investments in technology-driven solutions for resilience in pharmaceutical supply chains. Furthermore, we have identified several research directions. This review emphasizes the necessity for ongoing scholarly efforts aimed at fostering pharmaceutical supply chains resilience given the post-COVID-19 situation with goal of ensuring the uninterrupted availability of essential medications to patients worldwide.
-
Sport as power of integration among minorities
57-62Views:344The opportunities and development of skills in the field of sports may open a door to social inclusion that also facilitates social integration. Based on the funding provided by the national sports strategy and integration, the research project can be developed further on and implemented. The efforts of the European Union (EU) and of the European Council towards the member states are carried out through its directives, and the analyses of these documents provide guidelines for the elaboration of the Hungarian Roma strategies. Funding is one of the key factors for the elaboration of Roma integration strategy and its efficiency. The research highlights upon the way of thinking and mentality of Roma young people about sports currently, and on the importance of sport affairs for them. Also, reflects on the factors which promote motivation to have successful career goals and achieve those based on the program. The sports integration survey suggests conclusions on the role of mentoring in Roma youngsters’ studies, in sports, in building social relations, the role model motivating for them, or on the supportive role of the parents or even the lack of it in their families. The expected result would be a survey on sporting habits of the Roma minority and disadvantaged youth and their positioning in education through which we could develop programs to promote the integration of the Roma minority and to improve their general circumstances. The National Social Inclusion Strategy (Ministry of Human Capacities, National Social Inclusion Strategy 2011–2020) provides the financial background of the integration project whose application also prevails in the field of sports integration. The aspirations of the EU provide guidance to the amount of funding and its allocation manners. The National Roma Self-Government’s (NRSG) sports integration project and best practice has provided the basis for the sports integration research project. The survey is examining the recreational habits, motivational factors, study levels among the Roma minority and the disadvantaged young people. Based on the questionnaire, we can draw some conclusions about the development of sports integration programs. The issues cover the field of sport activities of young people aged between 9-18 and on the significance of sport opportunities for break-out for the Roma youth, and on the effect of role models for them. The sports integration projects treat simultaneously the development of education and sport, furthermore they are significantly linked to each other. The target group of the questionnaire survey are mainly the Roma and disadvantaged people. The sample item number is 1216 completed questionnaires from the whole territory of the country, from 16 schools. As shown in the survey, the sport and the level of education are significantly related to each other. Those who do any sports, obtain higher level of achievement in their studies. It can be revealed by the fact that through mentoring the sportsmen can promote their school performance and sport development together. The research highlights on another observation, namely, it also confirms the legitimacy of sports integration program and points out the direction for development. For accomplishing the goal of social inclusion through sport we have at hand the appropriate concept. It is, furthermore necessary to strengthen and to develop the mentoring program, which ensures the lower drop-out rate among the participants. The effect of Sports integration is motivating for the Roma and for the disadvantaged youth. The use of sport as a tool for social inclusion proves to be of utmost importance.
JEL code: Z23
-
An incubator model based on the territorial value chain
43-47Views:281Policies to promote and encourage local foods may take many different shapes depending on both the specific targets and strategies. Some policies, especially at a local level, promote supply-chain vertical and horizontal integration as a comprehensive strategy which aims to help firms pursue several of the promoting policies. A business model that focuses its attention on the consumer of the product and territory can be a crucial driver in generating a ‘land fecundation’ as a response to globalization. The aim of the paper is to investigate the link between rural development and territorialisation, exploring the role of Local Action Groups Integrated Projects of Food Chain and Rural Development Programmes from 2007-2013 in a region in Southern Italy. The article makes use of a value chain approach, starting with Porter’s value chain model and five forces model of competition; it proposes a methodological framework for the development of an organisational model that includes and builds networks between the several stakeholders and local programmes, creating a shared strategy to revitalising the area and the food choices of its residents. This revitalising process takes place through the implementation of a multi-purpose incubator establishing strong partnerships that are able to foster complementarities among all rural stakeholders. Conclusions and implications for policy makers are drawn: a model of territorial organisation could link territorial capital and local stakeholders, and therefore the programming carried out under the entire RDP.
-
IMPACT OF CLIMATE CHANGE ON PEOPLES’ LIVELIHOOD AND LIVESTOCK PRODUCTION IN UGANDA
Views:345Livestock sector in Uganda contributes significantly towards individual household income and food security and even though peoples’ dependance on livestock production for survival in Uganda is a reality, it’s also undeniable that livestock, which provides food and revenue on a worldwide scale, would be vulnerable to the direct or indirect consequences of climate change. Agriculture contributed 24.1% of the Uganda’s GDP in the financial year (FY) 2021–2022 and according to the Uganda bureau of standards (UBOS), agriculture employs over 70% of Uganda's working population. The purpose of this present study was to to evaluate the impact of climate change on peoples’ livelihood and livestock production in Uganda. Bibliometric analysis was the quantitative technique used for reviewing and describing published publications that assisted in evaluating academic works from secondary data obtained on digital databases in the context of this study. The VOS viewer software was used as a tool to perform the co-occurrence analysis, and then to realize the visualization of the impact of climate change on peoples’ livelihood and livestock production in Uganda using articles analysed on platform research with associated references from the Web of Science database. The visualisation highlighted topical areas that reflect the impacts of climate on peoples’ livelihood and livestock such as diseases, drought, coping strategies, greenhouse gases, drought, vulnerability, dry lands, mobility among pastoral communities, low productivity, reduced forage resources, elevated temperature extra all of which negatively affects the economic levels of individuals and the national income from livestock either directly or directly. Conclusively, interventions that are aimed at improving climate smartness in Uganda’s livestock farming communities may have significant food security and income benefits for different livelihoods.
Keywords: climate, livestock animals, livelihood, income
-
Reasons for and obstacles to cycling in opinions of residents of Debrecen, Hungary
53-59Views:297It is a basic aim of the European Union that due to the developments in 2014-2020 the bicycle would become one of the most often used transportation, touristic, and sports equipment. We were interested to see to what extent is bicycling present in the transportation system of Debrecen and what are the most important reasons for its residents to use the bicycles. The dedication of Debrecen to promote cycling is clearly proven by the number of newly built or resurfaced bike paths and by the fact that the University of Debrecen has introduced – alone in the region – UniBike which is a bicycle renting system brought forth by the need of its students. Here we present the developments that took place in the North Plain Region in the past few years. We have also analyzed the national and European strategies and reports on bicycling. A survey was conducted among the youth of Debrecen to explore their cycling habits. The data were evaluated using the EvaSys program. Until the end of 2011 with the help of different funds 862 km of bike paths had been built in Hungary. In the North Plain Region due to funds totaling 777 million HUF 15.7 km long bike paths had been constructed until 2015. The development of tourism in this direction is promoted by the web-pages and brochures offering bicycle-tours around Debrecen. Nevertheless, bicycling in the neighboring townships is present not as an instrument for sports and/or tourism, rather as a mean of transportation. It is a clear goal in Europe and thus in Hungary to have bike paths that can provide the means of safe cycling. In parallel, it is also important to promote the benefits of bicycling, including positive physiological effects, cost-effectiveness, and environment-friendliness to increase the proportion of those who select bicycling as an alternative.
JEL Code: I15
-
Romanian insurance business trends and the International crisis effects on it
17-20Views:212Is it interesting a 2 billion euro insurance market for the “old” Europe? “Not very much” one may say considering this figure represents no more than 16% of the insurance turn-over in the case of the most recent entry in the Romanian market, Groupama.The answer is still not as simple as that because “interesting” in business terms is not only about today, but very much about tomorrow. By the end of 2007 it was obvious that the Romanian insurance market is far from calming down. Not only that for the time being change is still the main real constant in use, but figures show that the market environment becomes more challenging than ever these days. The market situation showed that this allegation it was by that time more likely to be true than ever.
-
Emerging trends in strategic planning
23-31Views:1403In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively. This paper reveals and describes five emerging trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the emerging trends and tools to be discussed in this paper are as follows:
1) Assure vision and mission statements include desired characteristics
2) Perform SWOT (Strengths-Weaknesses-Opportunities-Threats) analysis using AQCD (Actionable, Quantitative, Comparative, and Divisional) factors
3) Utilize varied sources to obtain AQCD information
4) Utilize QSPM (Quantitative Strategic Planning Matrix) analysis to determine the relative attractiveness of alternative strategies
5) Use excel-based software to facilitate and enhance the strategic planning process.
The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
JEL Code: M21, O21
-
Commodity Indices Risk and Return Analysis Against Libor Benchmark
55-66Views:244This study analyze the risk and return characteristics of commodity index investments against the LIBOR benchmark. Commodity-based asset allocation strategies can be optimized by benchmarking the risk and return characteristics of commodity indices with LIBOR index rate. In this study, we have considered agriculture, energy, and precious metals commodity indices and LIBOR index to determine the risk and return characteristics using estimation techniques in terms of expected return, standard deviation, and geometric mean. We analyzed the publicly available daily market data from 10/9/2001 to 12/30/2016 for benchmarking commodity indices against LIBOR. S&P GSCI Agriculture Index (SGK), S&P GSCI Energy Index (SGJ), and S&P GSCI Precious Metals Index (SGP) are taken to represent each category of widely traded commodities in the regression analysis. Our study uses time series data based on daily prices. Alternative forecasting methodologies for time series analysis are used to cross-check the results. The forecasting techniques used are Holt-Winters Exponential Smoothing and ARIMA. This methodology predicts forecasts using smoothening parameters. The empirical research has shown that the risk of each of the commodity index that represents agriculture, energy, and precious metals sector is smaller compared to its return, whereas LIBOR based interest rate benchmark shows higher risk compared to its return in recession, non-recession and overall periods.
JEL Classification: C43, G13, G15
Keywords
