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Strategic planning for degrowth: What, who, how. 退化战略规划:什么、谁来做、如何做。
IF 3.4 2区 经济学 Q1 REGIONAL & URBAN PLANNING Pub Date : 2025-05-01 Epub Date: 2024-05-31 DOI: 10.1177/14730952241258693
Federico Savini

Degrowth is gaining traction as a viable alternative to mainstream approaches to sustainability. However, translating degrowth insights into concrete strategies of collective action remains a challenge. To address this challenge, this paper develops a degrowth perspective for strategic spatial planning as well as a strategic approach for degrowth. I argue that a degrowth transition needs to address three strategic issues: depth, agency, and trajectory. Degrowth strategies aim for satiation, the satisfaction of all essential needs in a particular society. To do so, they rely on diffused societal power, raising from existing practices of reduction. Strategies also follow a nonlinear trajectory that seeks to prefigure satiation, popularize it among the masses, and then pressure existing institutions. Strategic spatial planning offers important insights for dealing with these challenges but needs to embrace satiation as a strategic goal. It can do so by creating complementarities between prefigurative practices that perform satiation. The article defines and illustrates these processes by looking at the making of Amsterdam's 'doughnut' strategy.

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引用次数: 0
Reaching for yield: Evidence from households
IF 10.4 1区 经济学 Q1 BUSINESS, FINANCE Pub Date : 2025-04-03 DOI: 10.1016/j.jfineco.2025.104057
Francisco Gomes , Cameron Peng , Oksana Smirnova , Ning Zhu
The literature has documented “reaching for yield”—the phenomenon of investing more in risky assets when interest rates drop—among institutional investors. We analyze detailed transaction data from a large brokerage firm to provide direct field evidence that individual investors also exhibit this behavior. Consistent with models of portfolio choice with labor income, reaching for yield is more pronounced among younger and less-wealthy individuals. Consistent with prospect theory, reaching for yield is more pronounced when investors are trading at a loss. Finally, we observe and discuss the phenomenon of “reverse reaching for yield.”
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引用次数: 0
Extreme high temperatures and adaptation by social dynamics: Theory and evidence from China
IF 2.3 3区 经济学 Q2 ECONOMICS Pub Date : 2025-04-03 DOI: 10.1016/j.jebo.2025.106989
Jiaowei Gong , Xiangyu Shi , Chang Wang , Xin Zhang
Using a novel city-level high-frequency panel dataset of social and public events in Chinese cities, we document that extreme high temperatures significantly reshape social dynamics. Extreme high temperatures increase social cooperation, and the effects are more pronounced when labor productivity is lower and environmental awareness is higher. Our estimates, combined with a quantitative model, indicate that humanity adapts to climate change in part by reshaping social dynamics. Adaptation offsets nearly 10% of the negative economic impacts of extreme high temperatures. Our quantitative analysis suggests that directly subsidizing cooperation is the most effective strategy for mitigating the adverse effects of extreme high temperatures.
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引用次数: 0
Do ambitious cities value collaboration in climate action? Insights from the first group of cities pursuing climate neutrality
IF 6 1区 经济学 Q1 URBAN STUDIES Pub Date : 2025-04-03 DOI: 10.1016/j.cities.2025.105945
G. Ulpiani , N. Vetters , D. Shtjefni , V. Kozarev , T. Dunlop , A. Guimaraes Pereira
Achieving climate neutrality demands effective urban climate governance and stakeholders' mobilisation. This study conducts a comprehensive analysis of 362 cities' Expressions of Interest (EOI) submitted for the European Climate-Neutral and Smart Cities Mission to examine the prevalence and nature of stakeholder engagement in urban climate action. The analysis involves a combination of descriptive statistics, relationship analysis via Gephi software, and a customised text mining technique (pre-processing, frequency analysis, and clustering). The cities, with populations ranging from 11,148 to 15,000,000 and predominantly located in Europe, reveal a landscape of collaboration efforts that is somewhat proportional to the city size. Citizens and national governments are the principal stakeholders (83 %) with higher governance levels primarily involved in policy and regulation formulation as well as financial support. Over 70 % of cities engage academia, research institutions, and the private sector as key stakeholders, primarily in research and innovation activities. Furthermore, 72.6 % of cities participate actively in inter-city collaborations or are members of relevant networks. Contrastingly, utilities, energy communities, financial institutions, vulnerable groups, and trade unions exhibit suboptimal integration, engaged by less than half of the cities. Optimising collaboration for urban climate neutrality necessitates an enhanced integration of diverse stakeholders, particularly those proximal to marginalised groups, mass mobilisation to leverage the synergistic potential of inter-sectoral and inter-city collaborations, and a transition from predominantly educational initiatives to more comprehensive, participatory engagement practices.
实现气候中和需要有效的城市气候治理和利益相关者的动员。本研究对 362 个城市提交给欧洲气候中和与智能城市任务的意向书(EOI)进行了综合分析,以研究利益相关者参与城市气候行动的普遍性和性质。该分析结合了描述性统计、Gephi 软件的关系分析和定制的文本挖掘技术(预处理、频率分析和聚类)。这些城市的人口从 11,148 到 15,000,000 不等,主要分布在欧洲。市民和国家政府是主要的利益相关者(83%),更高层次的管理者主要参与政策和法规的制定以及财政支持。超过 70% 的城市将学术界、研究机构和私营部门作为主要利益相关方,主要参与研究和创新活动。此外,72.6% 的城市积极参与城市间合作或成为相关网络的成员。与此形成鲜明对比的是,公用事业、能源社区、金融机构、弱势群体和工会的融合度较低,只有不到一半的城市参与其中。要优化合作以实现城市气候中和,就必须加强对不同利益相关者的整合,尤其是那些接近边缘化群体的利益相关者,动员群众以发挥跨部门和跨城市合作的协同潜力,并从以教育为主的倡议过渡到更全面的参与性实践。
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引用次数: 0
“Less is more”: How effective is the joint effect on CCTV crime reduction?
IF 6 1区 经济学 Q1 URBAN STUDIES Pub Date : 2025-04-03 DOI: 10.1016/j.cities.2025.105928
Ruidun Chen , Silas Nogueira de Melo , Minxuan Lan , Yuchen Li , Shanhe Jiang , Yanqing Xu
The concept of overlapping surveillance areas from multiple closed-circuit television (CCTV) cameras, known as the “CCTV joint effect,” and its impact on crime reduction may provide valuable insights for crime prevention research and practice. Nonetheless, extant studies fail to provide evidence comparing crime reduction between CCTVs with and without joint effects when installed in a similar environment. This study gap has posed challenges for the assessment and installation of CCTVs. In response to these concerns, we conducted a comparative study utilizing data from 603 partnering businesses that installed CCTVs provided by the “Green Light Project” in Detroit. Employing the weighted displacement difference algorithm, we examined differences in the reduction effect on crime between CCTVs with and without joint effects. The results indicate that the joint effect does not consistently demonstrate a positive impact on the reduction effect of CCTVs. Its impact depends on the number of additional CCTVs, the effective radius, and the crime category. Meanwhile, our findings suggest that the joint effects are more likely to enhance the reduction effect on property crime. If one expects to enhance the reduction effect on violent crimes or the total volume of crime, careful planning of the number and layout of additional CCTVs is necessary. These insights are crucial for optimizing the layout of CCTVs, strengthening crime prevention, and reducing privacy concerns.
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引用次数: 0
Innovative cultural entrepreneurship. Testing and prototyping solutions in 6 European regions
IF 6 1区 经济学 Q1 URBAN STUDIES Pub Date : 2025-04-03 DOI: 10.1016/j.cities.2025.105924
Ruba Saleh, Philippe Drouillon
Since the 1950s tourism became accessible to many and over the years several trends were mapped and produced. Cultural tourism is relatively a recent phenomenon which initially started as an elitist activity. Cultural heritage is a strong medium of communication, growth and soft power. It impacts the economy, the social health and well-being, the sense of pride and belonging, the environment, and the way people behave and practice daily life, just to mention a few. The COVID-19 crisis spurred the birth of new trends linked to the lack of mobility, quarantine regulations, loneliness and desire to reconnect with nature, heritage and interact with human beings. Under the framework of H2020 project Be.CULTOUR 19 local groups embarked on an innovation route aimed at co-shaping the future of cultural tourism in Be.CULTOUR six partner European region. This paper aims to describe the process and outcomes of this cultural entrepreneurial journey.
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引用次数: 0
Connectedness of entrepreneurial ecosystems: the impact of VC financing mobility on startup valuations
IF 6.4 1区 经济学 Q1 BUSINESS Pub Date : 2025-04-03 DOI: 10.1007/s11187-025-01021-6
Peter Wirtz, Max Berre

National venture capitalist (VC) ecosystems are not isolated from each other, and foreign VC species may cross borders when pursuing valuable investment opportunities. The present research demonstrates that VC investments inside or outside VCs’ domestic ecosystems play a significant role in the target ventures’ valuation. VCs trade off familiarity of their domestic ecosystem for valuation. Our results indicate that familiarity with the domestic ecosystem reduces risk, and purely domestic deals consequently carry significantly positive valuation premia. Cross-border deals, on the other hand, have a significantly negative impact on valuation. However, certain comparative ecosystem characteristics, such as institutional shareholder protections and an ecosystem’s comparative competitive advantage, as well as an ecosystem’s relative saturation in terms of money on the market, partially offset the observed cross-border valuation penalty.

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引用次数: 0
Health risk and the value of life
IF 4.8 1区 经济学 Q1 ECONOMICS Pub Date : 2025-04-03 DOI: 10.1016/j.jpubeco.2025.105346
Daniel Bauer , Darius Lakdawalla , Julian Reif
We extend the conventional life-cycle framework for valuing health and longevity improvements to a stochastic setting with multiple health states and apply it to data on mortality, quality of life, labor earnings, and medical spending for adults with different comorbidities. We find that sick adults are willing to pay nearly twice as much per quality-adjusted life-year (QALY) to reduce mortality risk as healthy adults, and that reducing the risk of serious illness is valued similarly to reducing the risk of mild illness. Our results provide a rational explanation for why people oppose a single threshold value for rationing care and why they invest less in prevention than in treatment.
我们将评估健康和寿命改善的传统生命周期框架扩展到具有多种健康状态的随机环境中,并将其应用于具有不同合并症的成年人的死亡率、生活质量、劳动收入和医疗支出数据中。我们发现,为了降低死亡风险,患病成年人愿意为每质量调整生命年(QALY)支付的费用几乎是健康成年人的两倍,而且降低重病风险与降低轻病风险的价值类似。我们的研究结果合理地解释了为什么人们反对用单一的阈值来配给医疗服务,以及为什么他们在预防方面的投资少于治疗方面的投资。
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引用次数: 0
The retail execution quality landscape
IF 10.4 1区 经济学 Q1 BUSINESS, FINANCE Pub Date : 2025-04-03 DOI: 10.1016/j.jfineco.2025.104051
Anne Haubo Dyhrberg , Andriy Shkilko , Ingrid M. Werner
We demonstrate that off-exchange (wholesaler) executions provide significant cost savings to retail investors. Wholesaler concentration has raised regulatory concerns; however, we show that the largest wholesalers offer the lowest costs due to economies of scale. The entry of a new large wholesaler reduces incumbent scale economies, resulting in higher execution costs. Most retail brokers route to multiple wholesalers and actively monitor their performance, rewarding those offering lower execution costs with more volume. While retail investors benefit from the current landscape across all stocks, those trading small stocks benefit the most.
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引用次数: 0
Pandemic-era behavioral changes and post-pandemic persistence in the high-density urban context of Hong Kong
IF 6 1区 经济学 Q1 URBAN STUDIES Pub Date : 2025-04-03 DOI: 10.1016/j.cities.2025.105940
Zhizhao Li , Pengyu Zhu , Yuqing Guo , Jeffrey Chow
The COVID-19 pandemic was the most complex public health emergency in over a century. During the pandemic, daily behaviors globally shifted due to the health risks and the policies enacted to mitigate its spread. The permanence of these shifts, particularly after the pandemic subsided, has yet to be determined. The experience of Hong Kong showcases patterns of change that are emblematic of a high-density metropolis. To assess how the pandemic has modified the behaviors of Hong Kong's residents and the durability of these changes, we undertook a demographically representative survey from June to September 2022, with a subsequent follow-up in August 2023. This study constructs a panel dataset encompassing pre-pandemic, pandemic, and post-pandemic periods to analyze shifts in behaviors such as telecommuting, transportation mode choices, dining habits, shopping practices, and Internet use. Our findings reveal several pandemic-induced behavioral trends that diverge from existing literature, offering new insights into behavioral change and its persistence as a result of global health and safety crises, particularly in a high-density urban context. These insights contribute to a deeper understanding of emerging norms in the post-pandemic era and enhance preparedness for future public health challenges.
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