Suchergebnisse

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4,000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, and governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

The severe impact of global crises, such as COVID-19 and climate change, is plausibly reshaping the way in which people perceive risks. In this paper, we examine and compare how global crises and local disasters influence public perceptions of multiple hazards in Italy and Sweden. To this end, we integrate information about the occurrence of hazardous events with the results of two nationwide surveys. These included more than 4000 participants and were conducted in two different phases of the COVID-19 pandemic corresponding to low (August 2020) and high (November 2020) levels of infection rates. We found that, in both countries, people are more worried about risks related to experienced events. This is in line with the cognitive process known as the availability heuristic: individuals assess the risk associated with a given hazard based on how easily it comes to their mind. Epidemics, for example, are perceived as less likely and more impactful in Italy compared to Sweden. This outcome can be explained by cross-country differences in the impact of, as well as governmental responses to, COVID-19. Notwithstanding the ongoing pandemic, people in both Italy and Sweden are highly concerned about climate change, and they rank it as the most likely threat.

It is broadly assumed that political elites (e.g. party leaders) regularly rely on heuristics in their judgments or decision-making. In this article, I aim to bring together and discuss the scattered literature on this topic. To address the current conceptual unclarity, I discuss two traditions on heuristics: (1) the heuristics and biases (H&B) tradition pioneered by Kahneman and Tversky and (2) the fast and frugal heuristics (F&F) tradition pioneered by Gigerenzer et al. I propose to concentrate on two well-defined heuristics from the H&B tradition—availability and representativeness—to empirically assess when political elites rely on heuristics and thereby understand better their judgments and decisions. My review of existing studies supports the notion that political elites use the availability heuristic and possibly the representativeness one for making complex decisions under uncertainty. It also reveals that besides this, we still know relatively little about when political elites use which heuristic and with what effect(s). Therefore, I end by proposing an agenda for future research.

The availability heuristic — a cognitive rule of thumb whereby events that are easily brought to mind are judged to be more likely — is employed by decision-makers on a daily basis. Availability campaigns occur when individuals and groups strategically exploit this cognitive tendency in order to generate publicity for a particular issue, creating pressure to effect legislative change. This paper is the first to argue that environmental availability campaigns are more beneficial than they are harmful. Because they result in pressure on Congress, these campaigns serve as a catalyst for the enactment of critical new legislative initiatives. Specifically, these campaigns streamline the legislative process by: (1) determining in a transparent and nonarbitrary manner which issues receive attention; (2) overcoming some of the undesirable barriers to the enactment of new initiatives; and (3) encouraging efficient, bipartisan cooperation to pass vital legislation and regulation. Availability campaigns have resulted in critically valuable directives such as the DDT ban, Superfund, and the Oil Pollution Act. Although the primary focus of this paper is environmental legislation, availability campaigns may have benefits in a wide variety of other areas of law and regulation.

Multi-access Edge Computing (MEC) is gaining momentum as it is considered as one of the enablers of 5G ultra-Reliable Low-Latency Communications (uRLLC) services. MEC deploys computation resources close to the end user, enabling to reduce drastically the end-to-end latency. ETSI has recently leveraged the MEC architecture to run all MEC entities, including MEC applications, as Virtual Network Functions (VNF) in a Network Functions Virtualization (NFV) environment. This evolution allows taking advantage of the mature architecture and the enabling tools of NFV, including the potential to apply a variety of service-tailored function placement algorithms. However, the latter need to be carefully designed in case of MEC applications such as uRLLC, where service access latency is critical. In this paper, we propose a novel placement scheme applicable to a MEC in NFV environment. In particular, we propose a formulation of the problem of VNF placement tailored to uRLLC as an optimization problem of two conflicting objectives, namely minimizing access latency and maximizing service availability. To deal with the complexity of the problem, we propose a Genetic Algorithm to solve it, which we compare with a CPLEX implementation of our model. Our numerical results show that our heuristic algorithm runs efficiently and produces solutions that approximate well the optimal, reducing latency and providing a highly-available service. ; This work has been partially supported by the European Union's H2020 5G-Transformer Project (grant no. 761536)

It is broadly assumed that political elites (e.g. party leaders) regularly rely on heuristics in their judgments or decision-making. In this article, I aim to bring together and discuss the scattered literature on this topic. To address the current conceptual unclarity, I discuss two traditions on heuristics: (1) the heuristics and biases (H&B) tradition pioneered by Kahneman and Tversky and (2) the fast and frugal heuristics (F&F) tradition pioneered by Gigerenzer et al. I propose to concentrate on two well-defined heuristics from the H&B tradition—availability and representativeness—to empirically assess when political elites rely on heuristics and thereby understand better their judgments and decisions. My review of existing studies supports the notion that political elites use the availability heuristic and possibly the representativeness one for making complex decisions under uncertainty. It also reveals that besides this, we still know relatively little about when political elites use which heuristic and with what effect(s). Therefore, I end by proposing an agenda for future research.

There is a growing trend of information sharing within modern supply chains. This trend is mainly stimulated by recent developments in information technology and the increasing awareness that accurate and timely information helps firms cope with volatile and uncertain business conditions. We model a periodic-review, single-item, capacitated stochastic inventory system, where a supply chain member has the ability to obtain advance capacity information ('ACI') about future supply capacity availability. ACI is used to reduce the uncertainty of future supply and thus enables the decision-maker to make better ordering decisions. We develop an easily applicable heuristic based on insights gained from an analysis of the optimal policy. In a numerical study we quantify the benefits of ACI and compare the performance of the proposed heuristic with the optimal performance. We illustrate the conditions in which the procedure is working well and comment on its practical applicability. ; V sodobnih oskrbnih verigah je v zadnjih dveh desetletjih močno prisoten trend izmenjave informacij, ki omogočajo izboljša­nje poslovanja posameznih podjetij, kot tudi celotne oskrbne verige. S pomočjo natančnih in pravočasnih informacij, katerih prenos je z nedavnim razvojem informacijskih tehnologij močno olajšan, se podjetja uspešno spopadajo s spremenljivimi in negotovimi pogoji poslovanja. V članku predstavimo model uravnavanja zalog s periodičnim spremljanjem zalog v pogojih nee­nakomernega stohastičnega povpraševanja z omejeno zmogljivostjo oskrbe, kjer ima člen oskrbne verige dostop do informa­cije o razpoložljivosti oskrbe. Informacija o razpoložljivosti oskrbe zmanjša negotovost prihodnje oskrbe in omogoči managerju učinkovitejše naročanje. Na podlagi glavnih vpogledov pridobljenih z analizo optimalne politike naročanja razvijemo praktično uporabno hevristično metodo. Z numerično analizo določimo vrednost informacije o razpoložljivosti oskrbe in prepoznamo scenarije, kjer je ta največja. Ob tem na podlagi primerjave med rezultati optimalne politike naročanja in predlagane hevristike izmerimo natančnost le-te in podamo pogoje, ki morajo biti izpolnjeni, da hevristika doseže želeno natančnost.

Enforcement is a costly endeavor. Thus, governments ought to be innovative in designing less costly policies, yet, effective in preventing crime. To this end, this paper suggests using insights from behavioral law and economics. Empirical evidence demonstrates that police have an important effect in deterring crime. However, increasing the number of policemen is a costly policy. Therefore, this paper explores policy changes, which exploit offender's ambiguity aversion in order to reduce crime without increasing the police force. Namely, empirical evidence suggests that criminals are better deterred by ambiguous detection. Thus, this paper analyzes the ways to randomize the apprehension strategies to meet this end. Furthermore, it provides new evidence, based on a survey carried out for the purpose of this paper, that potential violators are largely not aware of policy changes. Inasmuch as the information regarding the intensified uncertainty is essential to its success, this paper discusses the possibility to increase criminals' awareness through the "availability heuristic."

Price discovery is an important research topic in real estate due to the heterogeneous nature of housing attributes and relatively thin trading activities compared to other assets. In Commonwealth countries, including New Zealand, governments usually conduct periodic appraisals for the purpose of collecting rates and levies. Such official appraisal values of properties, also known as capital values (CVs), are considered a price anchor for market participants in their negotiation processes. Real estate agents often use these appraisal values to advertise their listings and negotiate transaction prices. In this study, we aim to make an initial attempt to study the influence of CV on market prices using Granger causality tests and a hedonic pricing model. To test the lead-lag relationships, three million housing transactions from 1990 to 2020 in New Zealand are used to construct the capital values (CVs) and transacted prices (TPs) indices in both primary and secondary housing markets. The Granger causality test suggests that the indices of TPs and CVs have a bi-directional lead-lag relationship in the secondary housing market, whereas the relationship does not follow in the primary market where the information on CVs is unavailable. The results imply the existence of a CV anchoring effect. Such anchoring effects are also contingent on the timeliness of price anchors, which is consistent with the availability heuristic from behavioural economics.

Price discovery is an important research topic in real estate due to the heterogeneous nature of housing attributes and relatively thin trading activities compared to other assets. In Commonwealth countries, including New Zealand, governments usually conduct periodic appraisals for the purpose of collecting rates and levies. Such official appraisal values of properties, also known as capital values (CVs), are considered a price anchor for market participants in their negotiation processes. Real estate agents often use these appraisal values to advertise their listings and negotiate transaction prices. In this study, we aim to make an initial attempt to study the influence of CV on market prices using Granger causality tests and a hedonic pricing model. To test the lead-lag relationships, three million housing transactions from 1990 to 2020 in New Zealand are used to construct the capital values (CVs) and transacted prices (TPs) indices in both primary and secondary housing markets. The Granger causality test suggests that the indices of TPs and CVs have a bi-directional lead-lag relationship in the secondary housing market, whereas the relationship does not follow in the primary market where the information on CVs is unavailable. The results imply the existence of a CV anchoring effect. Such anchoring effects are also contingent on the timeliness of price anchors, which is consistent with the availability heuristic from behavioural economics.