Tag Archives: Economics

Richard Thaler, Nobel Prize-Related Economics Award Winner, has also Advocated in Favor of Open Data Access

Author: Pablo Markin
Published Online: 2017-10-15
URL: http://openscience.com/richard-thaler-nobel-prize-related-economics-award-winner-has-also-advocated-in-favor-of-open-data-access/

While upon his 2017 prize nomination, Richard H. Thaler has received recognition for his contributions to behavioral economics, he has also argued that open data initiatives can bring public and private benefits alike.


Excerpt

On October 9, 2017, the University of Chicago Booth School of Business has announced that Richard H. Thaler, its Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics, has received the vaunted 2017 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. This award has celebrated Thaler’s work in behavioral economics that takes account of the non-rationality of economic agents, due to human biases. While his economic behavior scenarios have served as the foundation for his book-scale publications, such as Nudge: Improving Decisions About Health, Wealth and Happiness (2008; co-authored with Cass R. Sunstein) and Misbehaving: The Making of Behavioral Economics (2015), in his smaller-scale publications Thaler has also advocated that Open Access to governmental, organizational and user data can be of significant utility for individual and collective decision-makers, precisely because more often than not economic agents act counterintuitively.

In other words, the ability of public policies to arrive at optimal decisions and realize cost efficiencies is likely to critically depend on the availability in Open Access of behavioral data based on which incentives can be devised and fine-tuned. Thus, in his article that has appeared in The New York Times on March 12, 2011, Thaler has called on governments to allow for Open Access to the data that their various agencies collect so that private companies and individual consumers would be able to tap into that information to deliver optimized services, such as real-time traffic tracking solutions, and make smarter decisions, e.g., based on service provider price registries, respectively. These uses of open data can also contribute to higher levels of consumer market competition and product safety transparency with public and private benefits in the form of improved resource allocation efficiency and reduced damage and mortality rates due to accidents.

By Pablo Markin


The full-length original blog article and additional resources can be found at OpenScience blog.

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The Journal Publishing Market Between Supply- and Demand-Side Models: The Case of Open Access in Germany

Author: Pablo Markin
Published Online: 2017-08-25
URL: http://openscience.com/the-journal-publishing-market-between-supply-and-demand-side-models-the-case-of-open-access-in-germany/

Without significant support for Open Access journals, large-scale transitions to Open Access may be slow to come, as the German case indicates.


Excerpt

In their recent news item for the Science Magazine, Gretchen Vogel and Kai Kupferschmidt have expressed their expectation that a concerted negotiation front that German university libraries and research institutions present to large publishers, such as Elsevier, Wiley, and SpringerNature, may produce a nation-wide, disruptive switch to Open Access with possible momentous consequences globally. Contracts with these publishers may include provisions for both publishing in the journals they manage and accessing the collections they make available, which refers to the supply and demand sides of the academic articles market. This is part of the reason for which the possible transition to Open Access takes place at a slower pace than it can be expected, since different market forces are at play as far as producers and consumers of scientific knowledge in the form of articles are concerned.

While multiple reports on the per-article revenues of large publishers exist, such as that of Schimmer, Geschuhn and Vogler (2015) evocatively entitled “Disrupting the subscription journals’ business model for the necessary large-scale transformation to open access”, it is important to keep in mind that publishers are also likely to bear significant costs to sustain their business models and that dividing industry-wide revenues by article output for subscription-based journals produces estimates before the costs of not only producing new articles, but also ensuring their accessibility and delivering distribution solutions are taken into account. This creates the supply and demand sides to the publishing market in which publishers, their institutional clients, funding bodies and governments are involved. In the subscription model, universities and institutes effectively stimulate the supply of academic articles, while facilitating the transfer of copy rights and intellectual property to publishers that put results of scientific research behind paywalls. Especially German universities with stagnant budgets and rising costs are likely to be interested in capping their constantly growing subscription fees by opting out of subscription agreements and choosing Open Access as a default option.

By Pablo Markin


The full-length original  blog article and additional resources can be found at OpenScience blog.

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Open Economics: New Challenges for Global Financial Markets

source: Ken Teegardin / flickr

DESCRIPTION

The scope of this Topical Issue includes, but is not limited to, the following areas of research:

  • Financial crises
  • Ratings and rating agencies
  • Government policy and regulation on financial markets
  • Behavioral finance
  • Financial forecasting and simulation
  • Portfolio choice
  • Investment decisions
  • Capital structure
  • Information and market efficiency
  • International financial markets
  • Financial risk and risk management

HOW TO SUBMIT

To submit to this Topical Issue, please use Open Economics’ Editorial Manager system: www.editorialmanager.com/economics

Please remember about choosing correct Article Type – Research Article – TI: New Challenges for Global Financial Markets or Review Article – TI: New Challenges for Global Financial Markets to ensure that it will be processed with the highest priority.

Articles published in the 2017 volume of Open Economics are free of all Article Processing Charges.

Open Economics: Family and Health in the Age of Inequality

source: Jake Rustenhoven / flickr

EDITED BY

Thomas Baudin, Université Lille Nord de France, France

DESCRIPTION

The scope of this Topical Issue includes, but is not limited to, the following areas of research: 

  • Analysis of Health Care Markets
  • Health Insurance
  • Health and Inequality
  • Health and Economic Development
  • Public Health
  • Measurement and Analysis of Poverty
  • Provision and Effects of Welfare Programs
  • Demographic Trends, Macroeconomic Effects, and Forecasts
  • Marriage, Family Structure
  • Domestic Abuse
  • Fertility, Family Planning
  • Economics of the Elderly
  • Economics of the Handicapped
  • Value of Life

HOW TO SUBMIT

To submit to this Topical Issue, please use Open Economics’ Editorial Manager system: www.editorialmanager.com/economics

Please remember about choosing correct Article Type – Research Article – TI: Family and Health in the Age of Inequality or Review Article – TI: Family and Health in the Age of Inequality Topical Issue to ensure that it will be processed with the highest priority.

Articles published in the 2017 volume of Open Economics are free of all Article Processing Charges.

Open Economics: Developments in Environmental and Energy Economics

source: dr_zoidberg / flickr

DESCRIPTION

The scope of this Topical Issue includes, but is not limited to, the following areas of research:

  • Environmental policy
  • Natural resource conservation
  • Renewable resources – economics and policy
  • Decarbonization policy
  • Climate change and policy
  • Climate change adaptation
  • Natural disaster resilience
  • Energy markets and infrastructure
  • Energy efficiency and innovation
  • Environmental pollution and consequences of environmental degradation
  • Pollution-related health issues and their social and economic implications
  • Sustainable urban development
  • Economic aspects of sustainable agriculture
  • Economic aspects of environmental innovation and technology

HOW TO SUBMIT

To submit to this Topical Issue, please use Open Economics’ Editorial Manager system: www.editorialmanager.com/economics

Please remember about choosing correct Article Type – Research Article – TI: Developments in Environmental and Energy Economics or Review Article – TI: Developments in Environmental and Energy Economics to ensure that it will be processed with the highest priority.

Articles published in the 2017 volume of Open Economics are free of all Article Processing Charges.

Open Economics: Shadow Economy and Economics of Crime

source: Colin Brown / flickr

EDITED BY

Prof. Friedrich Schneider, Johannes Kepler University, Linz, Austria

DESCRIPTION

The scope of this Topical Issue includes, but is not limited to, the following areas of research:

  • Criminal organizations
  • Drug trafficking
  • Gun prevalence
  • Terrorism
  • Money laundering
  • Corruption
  • Illegal trade
  • Technology and crime
  • Crime reduction policies and crime prevention
  • Tax policies and tax evasion
  • Informal economy
  • Public sector and governance

HOW TO SUBMIT

To submit to this Topical Issue, please use Open Economics’ Editorial Manager system: www.editorialmanager.com/economics

Please remember about choosing correct Article Type – Research Article – TI: Shadow Economy and Economics of Crime or Review Article – TI: Shadow Economy and Economics of Crime to ensure that it will be processed with the highest priority.

Articles published in the 2017 volume of Open Economics are free of all Article Processing Charges.

The Growing Prevalence of Open Access and Open Source Initiatives in Economics

Author:
Pablo Markin
Published Online: 2017-04-30

In recent years, a growing number of universities support open access textbook initiatives aimed at lowering the education costs of social sciences students, such as in the field of economics. Thus, the OpenStax initiative of Rice University has supported the development of open access textbooks for both the Introduction into Economics courses and for more focused Principles of Macro-Economics and Micro-Economics courses. These courses are available both in web-based versions and as PDF-files. In addition to these materials, instructors can access course materials that can be used for graded quizzes and final exams. The macro- and micro-economics text books exist in editions that are oriented at both college-level students and high school students taking advanced-placement courses.

By Pablo Markin


The original  blog article and additional resources can be found at OpenScience blog.