Search results for: maritime law and economics

Authors: Nalanda Matia, Julia Zhao, Amber Jaycocks, Divya Sinha

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Social assistance programs for businesses are intended to improve their survival and growth in the face of catastrophic events like the COVID-19 pandemic. However, that goal remains unfulfilled when the mostwantingbusinesses fail to participate in such programs. Reasons for non-participation can include lack of information, inability to cope with applications and program compliance, as well as some programs’ non-entitlement status. Some of these factors may be associated with the organizational and locational characteristics of these businesses. This research investigates these organizational and locational factorsthat determine receipt and effectiveness of social assistance among the firms that receive it. of A sample of firms from the universe of 3 rounds of Small Business Administration backed Paycheck Protection Program recipient and similarly profiled non recipient businesses are used to analyze this question. Initial results show firm organizational factors like size and spatial factors like broadband coverage at firm location impact application for and subsequent receipt of assistance for digitally administered programs. Further, Line of business and wage structure of recipients’ impact effectiveness of the assistance dollars.

Keywords: public economics, economics of social assistance, firm organizational structure, survival analysis

Procedia PDF Downloads 142

Authors: Chibuzo Okoye Daniels, Gillian Glegg, Lynda Rodwell

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The continuously growing quantity of very slow degrading litter deliberately discarded into the coastal waters around Lagos as marine debris is obvious. What is not known is how to tackle this problem to reduce its prevalence and impact on the environment, economy and community. To identify ways of tackling the marine debris problem two case study areas (Ikoyi and Victoria Islands of Lagos State) were used to assess the root causes, the threat posed by marine debris in the coastal waters around Lagos and the efficacy of current instruments, programmes and initiatives that address marine debris in the study areas. The following methods were used: (1) Self-completed questionnaires for households and businesses within the study areas; (2) Semi-structured interviews with key stakeholders; (3) Observational studies of waste management from collection to disposal and waste management facilities for waste originating from land and maritime sources; (4) Beach surveys and marine debris surveys on shorelines and ports; and (5) Fishing for marine debris. Results of this study identified the following root causes: (1) Indiscriminate human activities and behaviors, and lack of awareness on the part of the main stakeholders and the public of the potential consequences of their actions; (2) Poor solid waste management practices; (3) Lack of strict legal frameworks addressing waste and marine debris problem; and (4) Disposal of non-degradable wastes into domestic sewer system and open streets drains. To effectively tackle marine debris problem in the study areas, adequate, appropriate and cost effective solutions to the above mentioned root causes needs to be identified and effectively transferred for implementation in the study areas.

Keywords: marine debris problem, Lagos state, litter, coastal waters

Procedia PDF Downloads 350

Authors: B. Hamidu, A. Abdulhamid, S. Mohammed, S. Idi

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This study examined the household expenditure pattern on animal products in Bauchi metropolis. A cross-sectional data were collected from 157 households using systematic sampling technique. The data were analyzed using descriptive statistics, correlation and regression models. The results reveal that the mean age, mean household size, mean monthly income and mean total expenditure on animal products were found to be 39 years, 7 persons, N28,749 and N1,740 respectively. It was also found that household monthly income, number of children and educational level of the household heads (P<0.01) significantly influence the level of household expenditure on animal products. Similarly, income was found to be the most important factor determining the proportion of total expenditure on animal products (20.91%). Income elasticity was found to be 0.66 indicating that for every 1% increase in income, expenditure on animal products would increase by 0.66%. Furthermore, beef was found to be the most preferred (54.83%) and most regularly consumed (61.84%) animal products. However, it was discovered that the major constraints affecting the consumption of animal products were low-income level of the households (29.85%), high cost of animal products (15.82%) and increase in prices of necessities (15.82%). Therefore to improve household expenditure on animal products per capita real income of the households should be improved through creation of employment opportunities. Also stabilization of market prices of animal products and other foods items of necessities through increased production are recommended.

Keywords: animal products, economics, expenditure, households

Procedia PDF Downloads 217

Authors: Ibrahim Sadek Sedik Ibrahim, Mohamed M. Elgohary

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Sea ports are considered one of the factors affecting the progress of economic globalization and the international trade; consequently, they are considered one of the sources involved in the deterioration of the maritime environment due to the excessive amount of exhaust gases emitted from their activities. The majority of sea ports depend on the national electric grid as a source of power for the domestic and ships’ electric demands. This paper discusses the possibility of shifting ports from relying on the national grid electricity to green power-based ports. Offshore wind turbines and hydrogenic PEM fuel cell units appear as two typical promising clean energy sources for ports. As a case study, the paper investigates the prospect of converting Alexandria Port in Egypt to be an eco-friendly port with the study of technical, logistic, and financial requirements. The results show that the fuel cell, followed by a combined system of wind turbines and fuel cells, is the best choice regarding electricity production unit cost by 0.101 and 0.107 $/kWh, respectively. Furthermore, using of fuel cells and offshore wind turbine as green power concept will achieving emissions reduction quantity of CO₂, NOx, and CO emissions by 80,441, 20.814, and 133.025 ton per year, respectively. Finally, the paper highlights the role that renewable energy can play when supplying Alexandria Port with green energy to lift the burden on the government in supporting the electricity, with a possibility of achieving a profit of 3.85% to 22.31% of the annual electricity cost compared with the international prices.

Keywords: fuel cells, green ports, IMO, national electric grid, offshore wind turbines, port emissions, renewable energy

Procedia PDF Downloads 114

Authors: B. Frączek

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The paper analyses the usage of the Internet by university students in Visegrad Countries (4V Countries) who study economic fields in their formal and informal financial education and captures the areas of untapped potential of Internet in educational processes. Higher education and training, technological readiness, and the financial market development are in the group of pillars, that are key for efficiency driven economies. These three pillars have become an inspiration to the research on using the Internet in the financial education among economic university students as the group of the best educated people in finance. The financial education is a process that allows for improving the level of financial literacy. In turn, the financial literacy it is the set of financial knowledge, skills, awareness and patterns influencing the financial decisions. The level of financial literacy influences the level of financial well-being of individuals, determines the scale of saving of households and at the same time gives the greater chance for sustainable and more predictable development of the financial market with the positive impact on economy. The financial literacy is necessary for each group of society but its appropriate level is desirable especially in respect of economics students as future participants of financial markets as well as the experts and advisors in financial decision making. The low level of financial literacy is the great problem of many target groups in both developing and developed countries and the financial education is seen as the best way of improving this situation. Also the financial inclusion plays the special role in enhancing the level of financial literacy in the aspect of education by practice as well as due to interrelation between level of financial literacy and degree of financial inclusion. Despite many initiatives under financial education, the level of financial literacy is still very low. Scientists still search for new ways of solving this problem. One of the proposal is more effective usage of the new technology in financial education, especially the Internet, because of the growing popularity of e-learning and the increasing number of Internet users, especially among young people who are called the Generation Net. Due to special role of the university students studying the economics fields for the future financial markets, students of four universities from Visegrad Countries (Czech Republic, Hungary, Poland and Slovakia) were invited to participate in the survey. The aim of the article is to present the level and ways of using the Internet technology in financial education and indicating the so far unused or underused opportunities.

Keywords: financial education, financial inclusion, financial literacy, internet and university education

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Authors: Morteza Hamidpour, Kambeez Shahroudi

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The aim of this research was to identify the factors affecting the measurement and management of marketing performance in Iran's airports and air navigation companies (Economics in Air and Airport Transport). This study was exploratory and used a qualitative content analysis technique. The study population consisted of university professors in the field of air transportation and senior airport managers, with 15 individuals selected as samples using snowball technique. Based on the results, 15 main indicators were identified for measuring the marketing performance of Iran's airports and air navigation companies. These indicators include airport staff, general and operational expenses, annual passenger reception capacity, number of counter receptions and passenger dispatches, airport runway length, airline companies' loyalty to using airport space and facilities, regional market share of transit and departure flights, claims and net profit (aviation and non-aviation). By keeping the input indicators constant, the output indicators can be improved, enhancing performance efficiency and consequently increasing the economic situation in air transportation.

Keywords: air transport economics, marketing performance management, marketing performance input factors, marketing performance intermediary factors, marketing performance output factors, content analysis

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Authors: J. Chow

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In laboratory settings, this study measured and reported the effects of undergraduate students watching animated videos on learning microeconomics as compared with the effectiveness of reading written texts. The study described an experiment on learning microeconomics in higher education using two different types of learning materials. It reported the effectiveness on microeconomics learning of watching animated videos and reading written texts. Undergraduate students in the university were randomly assigned to either a ‘video group’ or a ‘text group’ in the experiment. Previously-validated multiple-choice questions on fundamental concepts of microeconomics were administered. Both groups showed improvement between the pre-test and post-test. The experience of learning using text and video materials was also assessed. After controlling the student characteristics variables, the analyses showed that both types of materials showed comparable level of perceived learning experience. The effect size and statistical significance of these results supported the hypothesis that animated video is an effective alternative to text materials as a learning tool for students. The findings suggest that such animated videos may support teaching microeconomics in higher education.

Keywords: animated videos for education, laboratory experiment, microeconomics education, undergraduate economics education

Procedia PDF Downloads 125

Authors: Manuel Branco

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This paper argues that mainstream economics is one of the reasons that can explain the difficulty in fully realizing human rights because its logic is intrinsically contradictory to human rights, most especially economic, social and cultural rights. First, its utilitarianism, both in its cardinal and ordinal understanding, contradicts human rights principles. Maximizing aggregate utility along the lines of cardinal utility is a theoretical exercise that consists in ensuring as much as possible that gains outweigh losses in society. In this process an individual may get worse off, though. If mainstream logic is comfortable with this, human rights' logic does not. Indeed, universality is a key principle in human rights and for this reason the maximization exercise should aim at satisfying all citizens’ requests when goods and services necessary to secure human rights are at stake. The ordinal version of utilitarianism, in turn, contradicts the human rights principle of indivisibility. Contrary to ordinal utility theory that ranks baskets of goods, human rights do not accept ranking when these goods and services are necessary to secure human rights. Second, by relying preferably on market logic to allocate goods and services, mainstream economics contradicts human rights because the intermediation of money prices and the purpose of profit may cause exclusion, thus compromising the principle of universality. Finally, mainstream economics sees human rights mainly as constraints to the development of its logic. According to this view securing human rights would, then, be considered a cost weighing on economic efficiency and, therefore, something to be minimized. Fully realizing human rights needs, therefore, a different approach. This paper discusses a human rights-based political economy. This political economy, among other characteristics should give up mainstream economics narrow utilitarian approach, give up its belief that market logic should guide all exchanges of goods and services between human beings, and finally give up its view of human rights as constraints on rational choice and consequently on good economic performance. Giving up mainstream’s narrow utilitarian approach means, first embracing procedural utility and human rights-aimed consequentialism. Second, a more radical break can be imagined; non-utilitarian, or even anti-utilitarian, approaches may emerge, then, as alternatives, these two standpoints being not necessarily mutually exclusive, though. Giving up market exclusivity means embracing decommodification. More specifically, this means an approach that takes into consideration the value produced outside the market and an allocation process no longer necessarily centered on money prices. Giving up the view of human rights as constraints means, finally, to consider human rights as an expression of wellbeing and a manifestation of choice. This means, in turn, an approach that uses indicators of economic performance other than growth at the macro level and profit at the micro level, because what we measure affects what we do.

Keywords: economic and social rights, political economy, economic theory, markets

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Authors: Sara Fioretti

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In the 2nd millennium BCE, maritime networks became essential to the Mediterranean lifestyle, creating an interconnected world. This phenomenon of interconnected cultures has often been misinterpreted as an “effect” of the Mycenaean “influence” without considering the complexity and role of regional and cross-cultural exchanges. This paper explores the socio-economic relationships, in both cross-cultural and potentially inter-regional settings, present within the archaeological repertoire of the southern Italian Late Bronze Age (LBA 1600 -1140 BCE). The emergence of economic relations within the connectivity of the regional settlements is explored through ceramic contexts found in the case studies Punta di Zambrone, Broglio di Trebisacce, and Nuraghe Antigori. This work-in-progress research is situated in the shifting theoretical views of the last ten years that discuss the Late Bronze Age’s connectivity through Social Networks, Entanglement, and Assertive Objects combined with a comparative statistical study of ceramic frequency distribution. Applying these theoretical frameworks with a quantitative approach demonstrates the specific regional economic relationships that shaped the cultural interactions of the Late Bronze Age. Through this intersection of theory and statistical analysis, the case studies establish a small percentage of pottery as imported, whilst assertive productions have a relatively higher quantity. Overall, the majority still adheres to regional Italian traditions. Therefore, we can dissect the rhizomatic relationships cultivated by the Italian coasts and Mycenaeans and their roles within their networks through the intersection of theoretical and statistical analysis. This research offers a new perspective on the connectivity of the Late Bronze Age relational structures.

Keywords: late bronze age, mediterranean archaeology, exchanges and trade, frequency distribution of ceramic assemblages

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Authors: Serkan Tezgel

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Effectively managing threats and power that transcend national boundaries requires a reformulation from the traditional post-modern navy to an adaptive and institutional transnational navy. By analyzing existing soft power concept, post-modern navy, and sea power, this study proposes the transnational navy, founded on the triangle of main attributes of transnational companies, 'Global Competitiveness, Local Responsiveness, Worldwide Learning and Innovation Sharing', a new model which will lead to a positive peace with an institutional network. This transnational model necessitates 'Transnational Navies' to help establish peace with collective and transnational understanding during a transition period 'Reactive Postmodern Navy' has been experiencing. In this regard, it is fairly claimed that a new paradigm shift will revolve around sea power to establish good order at sea with collective and collaborative initiatives and bound to breed new theories and ideas in the forthcoming years. However, there are obstacles to overcome. Postmodern navies, currently shaped by 'Collective Maritime Security' and 'Collective Defense' concepts, can not abandon reactive applications and acts. States deploying postmodern navies to realize their policies on international platforms and seapower structures shaped by the axis of countries’ absolute interests resulted in multipolar alliances and coalitions, but the establishment of the peace. These obstacles can be categorized into three tiers in establishing a unique transnational model navy: Strategic, Organizational and Management challenges. To overcome these obstacles and challenges, postmodern navies should transform into cooperative, collective and independent soft transnational navies with the transnational mentality, global commons, and institutional network. Such an adaptive institution can help the world navigate to a positive peace.

Keywords: postmodern navy, transnational navy, transnational mentality, institutional network

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Authors: Sara Fioretti

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During the Middle Bronze Age, southern Italy underwent a reorganisation of social structures where local cultures, such as the sub-Apennine and Nuragic, flourished and participated in maritime trade. This paper explores the socio-economic relationships, in both cross-cultural and potentially inter-regional settings, present within the archaeological repertoire of the southern Italian Late Bronze Age (LBA 1600 -1050 BCE). The emergence of economic relations within the connectivity of the regional settlements is explored through ceramic contexts found in the case studies Punta di Zambrone, Broglio di Trebisacce, and Nuraghe Antigori. This paper discusses the findings of a statistical and theoretical approach from an ongoing study in relation to the Mediterranean’s characterisation as a period dominated by Mycenaean influence. This study engages with a theoretical bricolage of Social Networks Entanglement, and Assertive Objects Theory to address the selective and assertive dynamics evident in the cross-cultural trade exchanges as well as consider inter-regional dynamics. Through this intersection of theory and statistical analysis, the case studies establish a small percentage of pottery as imported, whilst assertive productions have a relatively higher quantity. Overall, the majority still adheres to regional Italian traditions. Therefore, we can dissect the rhizomatic relationships cultivated by the Italian coasts and Mycenaeans and their roles within their networks through the intersection of theoretical and statistical analysis. This research offers a new perspective on the complex nature of the Late Bronze Age relational structures.

Keywords: late bronze age, mediterranean archaeology, exchanges and trade, frequency distribution of ceramic assemblages, social network theory, rhizomatic exchanges

Procedia PDF Downloads 27

Authors: Mubashra Shaheen

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The conflict over the South China Sea (SCS) is a complex imbroglio spanning over several territorial and maritime claims involving two major island groups, the Paracels and the Spratlys. It has become a major source of geopolitical competition between the United States and China. The study's overall objective is to understand China's land reclamations and assertive behavior in the South China Sea, which lies between both the Western Pacific and the Indian Ocean. Over half of global commerce passes through these waterways, which host a great amount of marine life and hydrocarbon deposits. China's sand-filling and island-building strategy in the South China Sea is motivated by its goal of privatizing all these riches as well as the routes. It would raise China to the pinnacle of world power status as well as allow it to threaten the dominance of the U.S. The study will examine China's assertive behavior and modernization plans as well as the United States' quest for supremacy through the lens of realists. While using a qualitative method of analysis, the study will examine China's nine-dash line claims and Exclusive Economic Zones (EEZs), UNCLOS, and U.S.-China divergence over international law considerations to pacify the tensions in the South China Sea. This paper is intended to explore the possible answers to the following questions: (1) Why does China’s rise necessitate the US's efforts to contain and encircle it through the lending of a hand to strategic partners and allies in the South China Sea? (2) Why South China Sea dispute is so complex imbroglio? (3) What are US-China international law considerations regarding the South China Sea? The study will further follow the bellow research procedure: 1: Comparative Legal Method: This method simply chalk-outs the follow of few steps that discarnate the positive and negative effects of the great power competitions. 2: Conceptualization: The conceptualization of the policies of containment defines and differentiates two different problems behind the persuasive means of hegemony and dominance in the strategic milieu.

Keywords: us, china, south china sea, unclos

Procedia PDF Downloads 69

Authors: Bhenjamin Jordan L. Ona

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Weather modification is an act of altering weather systems that catches interest on scientific studies. Cloud seeding is a common form of weather alteration. On the same principle, tropical cyclone mitigation experiment follows the methods of cloud seeding with intensity to account for. This study will present the effects of aerosol to tropical cyclone cloud microphysics and intensity. The framework of Weather Research and Forecasting (WRF) model incorporated with Thompson aerosol-aware scheme is the prime host to support the aerosol-cloud microphysics calculations of cloud condensation nuclei (CCN) ingested into the tropical cyclones before making landfall over the Philippine coast. The coupled microphysical and radiative effects of aerosols will be analyzed using numerical data conditions of Tropical Storm Ketsana (2009), Tropical Storm Washi (2011), and Typhoon Haiyan (2013) associated with varying CCN number concentrations per simulation per typhoon: clean maritime, polluted, and very polluted having 300 cm-3, 1000 cm-3, and 2000 cm-3 aerosol number initial concentrations, respectively. Aerosol species like sulphates, sea salts, black carbon, and organic carbon will be used as cloud nuclei and mineral dust as ice nuclei (IN). To make the study as realistic as possible, investigation during the biomass burning due to forest fire in Indonesia starting October 2015 as Typhoons Mujigae/Kabayan and Koppu/Lando had been seeded with aerosol emissions mainly comprises with black carbon and organic carbon, will be considered. Emission data that will be used is from NASA's Moderate Resolution Imaging Spectroradiometer (MODIS). The physical mechanism/s of intensification or deintensification of tropical cyclones will be determined after the seeding experiment analyses.

Keywords: aerosol, CCN, IN, tropical cylone

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Authors: Avdasheva Svetlanaa, Kryuchkova Polinab

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Comparative social efficiency of private and public enforcement of law is debated. This question is not of academic interest only, it is also important for the development of the legal system and regulations. Generally, involvement of ‘common citizens’ in public law enforcement is considered to be beneficial, while involvement of interest groups representatives is not. Institutional economics as well as law and economics consider the difference between public and private enforcement to be rather mechanical. Actions of bureaucrats in government agencies are assumed to be driven by the incentives linked to social welfare (or other indicator of public interest) and their own benefits. In contrast, actions of participants in private enforcement are driven by their private benefits. However administrative law enforcement may be designed in such a way that it would become driven mainly by individual incentives of alleged victims. We refer to this system as reactive public enforcement. Citizens may prefer using reactive public enforcement even if private enforcement is available. However replacement of public enforcement by reactive version of public enforcement negatively affects deterrence and reduces social welfare. We illustrate the problem of private vs pure public and private vs reactive public enforcement models with the examples of three legislation subsystems in Russia – labor law, consumer protection law and competition law. While development of private enforcement instead of public (especially in reactive public model) is desirable, replacement of both public and private enforcement by reactive model is definitely not.

Keywords: public enforcement, private complaints, legal errors, competition protection, labor law, competition law, russia

Procedia PDF Downloads 462

Authors: Thinh Huu Nguyen, Shahab Sharfaei, Jindřich Soukup

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In the pursuit of reducing production costs, offshoring has been a major trend throughout global value chains for many decades. However, with the rise of advanced technologies, new opportunities to automate their production are changing the motivation of multinational firms to go offshore. Instead, many firms are working to relocate their offshored activities from developing economies back to their home countries. This phenomenon, known as reshoring, has recently garnered much attention as it becomes clear that automation in advanced countries might have major implications not only on their own economies but also through international trade on the economy of low-income countries, including their labor market outcomes and their comparative advantages. Thus, while using robots to substitute human labor may lower the relative costs of producing at home, it has the potential to decrease employment and demand for exports from developing economies through reshoring. In this paper, we investigate the recent literature to provide a further understanding of the relationships between robotization and the reshoring of production. Moreover, we analyze the impact of robot adoption on international trade in both developed and emerging markets. Finally, we identify the research gaps and provide avenues for future research in international economics. This study is a part of the project funded by the Internal Grant Agency (IGA) of the Faculty of Business Administration, Prague University of Economics and Business.

Keywords: automation, robotization, reshoring, international trade

Procedia PDF Downloads 79

Authors: Chitra Rajagopal, Indra Deo Kumar, Ruchi Joshi, Binoy Bhargavan

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Role of fighter planes in modern network centric military warfare scenarios has changed significantly in the recent past. New generation fighter planes have multirole capability of engaging both air and ground targets with high precision. Multirole aircraft undertakes missions such as Air to Air combat, Air defense, Air to Surface role (including Air interdiction, Close air support, Maritime attack, Suppression and Destruction of enemy air defense), Reconnaissance, Electronic warfare missions, etc. Designers have primarily focused on development of technologies to enhance the combat performance of the fighter planes and very little attention is given to human factor aspects of technologies. Unique physical and psychological challenges are imposed on the pilots to meet operational requirements during these missions. Newly evolved technologies have enhanced aircraft performance in terms of its speed, firepower, stealth, electronic warfare, situational awareness, and vulnerability reduction capabilities. This paper highlights the impact of emerging technologies on human factors for various military operations and missions. Technologies such as ‘cooperative knowledge-based systems’ to aid pilot’s decision making in military conflict scenarios as well as simulation technologies to enhance human performance is also studied as a part of research work. Current and emerging pilot protection technologies and systems which form part of the integrated life support systems in new generation fighter planes is discussed. System safety analysis application to quantify the human reliability in military operations is also studied.

Keywords: combat effectiveness, emerging technologies, human factors, systems safety analysis

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Authors: Natasha Hazarika, Xiaoling Zhang

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Eco- innovations, unlike regular innovations, are not self-enforcing and are associated with the double externality problem. Therefore, it is emphasized that eco-innovations need government. intervention in the form of supportive policies on priority. Off late, factors like consumer demand, technological advancement as well as the competitiveness of the firms have been considered as equally important. However, the interaction among these driving forces has not been fully traced out. Also, the theory on eco-innovation is found to be at a nascent stage which does not resonate with its dynamics as it is traditionally studied under the neo- classical economics theory. Therefore, to begin with, insights for this research have been derived from the merits of ‘neo- classical economics’, ‘evolutionary approach’, and the ‘resource based view’ which revealed the issues pertaining to technological system lock- ins and firm- based capacities which usually remained undefined by the neo classical approach; it would be followed by determining how the policies (in the national level) and their instruments are designed in order to motivate firms to eco-innovate, by analyzing the innovation ‘friendliness’ of the policy style and the policy instruments as per the indicators provided in innovation literature by means of document review (content analysis) of the relevant policies introduced by the Chinese government. The significance of theoretical analysis lies in its ability to show why certain practices become dominant irrespective of gains or losses, and that of the policy analysis lies in its ability to demonstrate the credibility of govt.’s sticks, carrots and sermons for eco-innovation.

Keywords: firm competency, eco-innovation, policy, theory

Procedia PDF Downloads 159

Authors: C. Sánchez de Rojas Candela, A. Riquelme, P. Rodrigo, M. D. Escalera-Rodríguez, B. Torres, J. Rams

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Selective laser melting is one of the most commonly used AM techniques. In it, a thin layer of metallic powder is deposited, and a laser is used to melt selected zones. The accumulation of layers, each one molten in the preselected zones, gives rise to the formation of a 3D sample with a nearly arbitrary design. To ensure that the properties of the final parts match those of the powder, all the process is carried out in an inert atmosphere, preferentially Ar, although this gas could be substituted. Ti6Al4V alloy is widely used in multiple industrial applications such as aerospace, maritime transport and biomedical, due to its properties. However, due to the demanding requirements of these applications, greater hardness and wear resistance are necessary, together with a better machining capacity, which currently limits its commercialization. To improve these properties, in this study, Selective Laser Melting (SLM) is used to manufacture Ti/TiN metal matrix composites with in-situ and ex-situ titanium nitride reinforcement where the scanning speed is modified (from 28.5 up to 65 mm/s) to study the influence of the processing parameters in SLM. A one-step method of nitriding the Ti6Al4V alloy is carried out to create in-situ TiN reinforcement in a reactive atmosphere and it is compared with ex-situ composites manufactured by previous mixture of both the titanium alloy powder and the ceramic reinforcement particles. The microstructure and mechanical properties of the different Ti/TiN composite materials have been analyzed. As a result, the existence of a similar matrix has been confirmed in in-situ and ex-situ fabrications and the growth mechanisms of the nitrides have been studied. An increase in the mechanical properties with respect to the initial alloy has been observed in both cases and related to changes in their microstructure. Specifically, a greater improvement (around 30.65%) has been identified in those manufactured by the in-situ method at low speeds although other properties such as porosity must be improved for their future industrial applicability.

Keywords: in-situ reinforcement, nitriding reaction, selective laser melting, titanium nitride

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Authors: A. Ramkumar, Anvesh Sagar, Preetham P. Karkera

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Globalization in the modern era is dependent on the International logistics, the economic and reliable means is provided by the ocean going merchant vessel. The propulsion system which drives this massive vessels has gone through leaps and bounds of evolution. Most reliable system of propulsion adopted by the majority of vessels is by marine diesel engine. Since the first oil crisis of 1973, there is demand in increment of efficiency of main engine. Due to increase in the oil prices ship-operators explores for reduction in the operational cost of ship. And newly adopted IMO’s EEDI & SEEMP rules calls for the effective measures taken in this regard. The main engine of a ship suffers a lot of thermal losses, they mainly occur due to exhaust gas waste heat, radiation and cooling. So to increase the overall efficiency of system, we have to look into the solution to harnessing this waste energy of main engine to increase the fuel economy. During the course of research, engine manufacturers have developed many waste heat recovery systems. In our paper we see about additional options to harness this waste heat. The exhaust gas of engine coming out from the turbocharger still holds enough heat to go to the exhaust gas economiser to produce steam. This heat of exhaust gas can be used to heat a liquid of less boiling point after coming out from the turbocharger. The vapour of this secondary liquid can be superheated by a bypass exhaust or exhaust of turbocharger. This vapour can be utilized to rotate the turbine which is coupled to a generator. And the electric power for ship service can be produced with proper configuration of system. This can be included in PMS of ship. In this paper we seek to concentrate on power generation with use of exhaust gas. Thereby taking out the load on the main generator and increasing the efficiency of the system. This will help us to comply with the new rules of IMO. Our method helps to develop clean energy.

Keywords: EEDI–energy efficiency design index, IMO–international maritime organization PMS-power management system, SEEMP–ship energy efficiency management plan

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Authors: Jakob Krause

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Past Financial Crisis has shown that contemporary risk management models provide an unjustified sense of security and fail miserably in situations in which they are needed the most. In this paper, we start from the assumption that risk is a notion that changes over time and therefore past data points only have limited explanatory power for the current situation. Our objective is to derive the optimal amount of representative information by optimizing between the two adverse forces of estimator convergence, incentivizing us to use as much data as possible, and the aforementioned non-representativeness doing the opposite. In this endeavor, the cornerstone assumption of having access to identically distributed random variables is weakened and substituted by the assumption that the law of the data generating process changes over time. Hence, in this paper, we give a quantitative theory on how to perform statistical analysis in non-ergodic systems. As an application, we discuss the impact of a paragraph in the last iteration of proposals by the Basel Committee on Banking Regulation. We start from the premise that the severity of assumptions should correspond to the robustness of the system they describe. Hence, in the formal description of physical systems, the level of assumptions can be much higher. It follows that every concept that is carried over from the natural sciences to economics must be checked for its plausibility in the new surroundings. Most of the probability theory has been developed for the analysis of physical systems and is based on the independent and identically distributed (i.i.d.) assumption. In Economics both parts of the i.i.d. assumption are inappropriate. However, only dependence has, so far, been weakened to a sufficient degree. In this paper, an appropriate class of non-stationary processes is used, and their law is tied to a formal object measuring representativeness. Subsequently, that data set is identified that on average minimizes the estimation error stemming from both, insufficient and non-representative, data. Applications are far reaching in a variety of fields. In the paper itself, we apply the results in order to analyze a paragraph in the Basel 3 framework on banking regulation with severe implications on financial stability. Beyond the realm of finance, other potential applications include the reproducibility crisis in the social sciences (but not in the natural sciences) and modeling limited understanding and learning behavior in economics.

Keywords: banking regulation, non-ergodicity, risk management, semimartingale modeling

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Authors: Dike Ibegbulem

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This paper interrogates the chances of Nigeria achieving its target of making the list of the first 70 countries in World Bank’s Ease of Doing Business (EoDB) rankings by the year 2023. That is, in light of existing conflicts in policies relating to the door-to-door carriage of goods and multimodal transport operations (MTOs) in the country. Drawing on the famed Legal Origins theory plus data from World Bank; and using Singapore as a touchstone, the paper unveils how amongst the top-ranked Commonwealth jurisdictions, positive correlations have been recorded over the past years between certainty in their policies on MTOs on the one hand; and their Enforcing Contracts (EC) and Doing Business (DB) indices on the other. The paper postulates that to increase Nigeria’s chances of achieving her DB2023 objective, legislative and curial policies on MTOs and door-to-door carriage of goods have to be realigned in line with prevailing policies in highly-ranked Commonwealth jurisdictions of the Global North. Her appellate courts, in particular, will need some unshackling from English pedigrees which still delimit admiralty jurisdiction to port-to-port shipping, to the exclusion of door-to-door carriage of goods beyond navigable waters. The paper identifies continental and domestic instruments, plus judicial precedents, which provide bases for expanding admiralty jurisdiction to adjudication of claims derived from door-to-door or multimodal transport contracts and other allied maritime-plus contracts. It prescribes synergy between legislative and curial policies on MTOs and door-to-door carriage of goods as species of admiralty – an emerging trend in top-ranked Commonwealth jurisdictions of the Global North.

Keywords: admiralty jurisdiction, legal origins, world bank, ease of doing business, enforcing contracts, multimodal transport operation, door-to-door, carriage of goods by sea, combined transport shipping

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Authors: Stehr Melanie

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The availability of apposite information is essential for the decision-making process of organizational buyers. Due to the constraints of the Covid-19 crisis, information channels that emphasize face-to-face contact (e.g. sales visits, trade shows) have been unavailable, and usage of digitally-driven information channels (e.g. videoconferencing, platforms) has skyrocketed. This paper explores the question in which areas the pandemic induced shift in the use of information channels could be sustainable and in which areas it is a temporary phenomenon. While information and buying behavior in B2C purchases has been regularly studied in the last decade, the last fundamental model of organizational buying behavior in B2B was introduced by Johnston and Lewin (1996) in times before the advent of the internet. Subsequently, research efforts in B2B marketing shifted from organizational buyers and their decision and information behavior to the business relationships between sellers and buyers. This study builds on the extensive literature on situational factors influencing organizational buying and information behavior and uses the economics of information theory as a theoretical framework. The research focuses on the German woodworking industry, which before the Covid-19 crisis was characterized by a rather low level of digitization of information channels. By focusing on an industry with traditional communication structures, a shift in information behavior induced by an exogenous shock is considered a ripe research setting. The study is exploratory in nature. The primary data source is 40 in-depth interviews based on the repertory-grid method. Thus, 120 typical buying situations in the woodworking industry and the information and channels relevant to them are identified. The results are combined into clusters, each of which shows similar information behavior in the procurement process. In the next step, the clusters are analyzed in terms of the post and pre-Covid-19 crisis’ behavior identifying stable and dynamic information behavior aspects. Initial results show that, for example, clusters representing search goods with low risk and complexity suggest a sustainable rise in the use of digitally-driven information channels. However, in clusters containing trust goods with high significance and novelty, an increased return to face-to-face information channels can be expected after the Covid-19 crisis. The results are interesting from both a scientific and a practical point of view. This study is one of the first to apply the economics of information theory to organizational buyers and their decision and information behavior in the digital information age. Especially the focus on the dynamic aspects of information behavior after an exogenous shock might contribute new impulses to theoretical debates related to the economics of information theory. For practitioners - especially suppliers’ marketing managers and intermediaries such as publishers or trade show organizers from the woodworking industry - the study shows wide-ranging starting points for a future-oriented segmentation of their marketing program by highlighting the dynamic and stable preferences of elaborated clusters in the choice of their information channels.

Keywords: B2B buying process, crisis, economics of information theory, information channel

Procedia PDF Downloads 162

Authors: Sylvia Graczka

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Waste related environmental problems are not only exploding but are also spotlighted for capacity shortages in recycling, as China announced its ban on waste imports. According to the waste hierarchy, prevention is the primary solution for waste, and also the cheapest. Waste related environmental pollution as externality puts an ever-growing burden on communities bearing the social costs. Economic policies often claim to be pro-environment, this often appears only theoretically, or at the level of principles. There are few concrete occurrences of tools in economic policies, such as green taxes, that are truly effective in stimulating the shift towards waste reduction. The paper presents theoretical economic policy tools based on literature review, and case studies on applied economic policy tools by analyzing policy papers, strategies in force, in line with ‘polluter pays’ and ‘extended producer responsibility’ principles. The study also emphasizes the differences between the broader notion of waste reduction and that of waste minimization, parallel to the difference between resource efficiency and resource savings. It also puts the issue in the context of neoclassical environmental economics and ecological economics, to present alternatives in approach. The research concludes in identifying effective economic policy tools that support the reduction of material use, and the prevention of waste. Consumer and producer awareness of waste problems and consciousness related to their choices are inevitable to make economic policy tools work effectively.

Keywords: economic policy, producer responsibility, resource efficiency, waste prevention

Procedia PDF Downloads 128

Authors: Gyorgy Deak, Marius C. Raischi, Lucian P. Georgescu, Tiberius M. Danalache, Elena Holban, Madalina G. Boboc, Monica Matei, Catalina Iticescu, Marius V. Olteanu, Stefan Zamfir, Gabriel Cornateanu

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At present, on the Lower Danube, different types of pressures have been identified that affect the anadromous sturgeons stocks with an impact that leads to their decline. This paper presents techniques and procedures used by Romanian experts in the tagging and monitoring of anadromous sturgeons, as well as unique results at international level obtained on the basis of an informational volume collected in over 7 years of monitoring on these species behavior (both for adults as well as for ultrasonically tagged juveniles) on the Lower Danube. The local impact of hydrotechnical constructions (bottom sill, maritime navigation channel), the global impact of the poaching phenomenon and the impact of the restocking programs with sturgeon juveniles were assessed. Thus, the bottom sill impact on the Bala branch, the Bastroe Channel (cross-border impact) and the poaching phenomenon at the level of the Lower Danube was analyzed on the basis of a unique informational volume obtained through the use of patented monitoring systems by the Romanian experts (DKTB respectively, DKMR-01T). At the same time, the results from the monitoring of ultrasonically tagged sturgeon juveniles from the 2015 repopulation program are presented. Conclusions resulting from research can ensure favorable premises for finding some conservation solutions for CITES-protected sturgeon species that have survived for millions of years, currently being 1 species on the brink of extinction - Russian sturgeon, 2 species in danger of extinction - Beluga sturgeon and Stellate sturgeon and 2 species already extinct from the Lower Danube, namely common sturgeon and ship sturgeon.

Keywords: Lower Danube, sturgeons monitoring (adults and juveniles), tagging, impact on conservation

Procedia PDF Downloads 217

Authors: Beatrice Fenu, Francesco Niosi, Giovanni Bracco, Giuliana Mattiazzo

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In recent years, Europe has seen a great development of renewable energy, in a perspective of reducing polluting emissions and transitioning to cleaner forms of energy, as established by the European Green New Deal. Wind energy has come to cover almost 15% of European electricity needs andis constantly growing. In particular, far-offshore wind turbines are attractive from the point of view of exploiting high-speed winds and high wind availability. Considering offshore wind turbine siting that combines the resources analysis, the bathymetry, environmental regulations, and maritime traffic and considering the waves influence in the stability of the platform, the hydrodynamic characteristics of the platform become fundamental for the evaluation of the performances of the turbine, especially for the pitch motion. Many platform's geometries have been studied and used in the last few years. Their concept is based upon different considerations as hydrostatic stability, material, cost and mooring system. A new method to reach a high-performances substructure for different kinds of wind turbines is proposed. The system that considers substructure, mooring, and wind turbine is implemented in Orcaflex, and the simulations are performed considering several sea states and wind speeds. An external dynamic library is implemented for the turbine control system. The study shows the comparison among different substructures and the new concepts developed. In order to validate the model, CFD simulations will be performed by mean of STAR CCM+, and a comparison between rigid and elastic body for what concerns blades and tower will be carried out. A global model will be built to predict the productivity of the floating turbine according to siting, resources, substructure, and mooring. The Levelized Cost of Electricity (LCOE) of the system is estimated, giving a complete overview about the advantages of floating offshore wind turbine plants. Different case studies will be presented.

Keywords: aero-hydrodynamic model, computational fluid dynamics, floating offshore wind, siting, verification, and validation

Procedia PDF Downloads 185

Authors: Divyansh Goel, Varun Jain

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Classical economics works on the principle that people are rational and analytical in their decision making and their choices fall in line with the most suitable option according to the dominant strategy in a standard game theory model. This model has failed at many occasions in estimating the behavior and dealings of rational people, giving proof of some other underlying heuristics and cognitive biases at work. This paper probes into the study of these factors, which fall under the umbrella of behavioral economics and through their medium explore the solution to a problem which a lot of nations presently face. There has long been a wide disparity in the number of people holding favorable views on organ donation and the actual number of people signing up for the same. This paper, in its entirety, is an attempt to shape the public policy which leads to an increase the number of organ donations that take place and close the gap in the statistics of the people who believe in signing up for organ donation and the ones who actually do. The key assumption here is that in cases of cognitive dissonance, where people have an inconsistency due to conflicting views, people have a tendency to go with the default choice. This tendency is a well-documented cognitive bias known as the status quo bias. The research in this project involves an assay of mandated choice models of organ donation with two case studies. The first of an opt-in system of Germany (where people have to explicitly sign up for organ donation) and the second of an opt-out system of Austria (every citizen at the time of their birth is an organ donor and has to explicitly sign up for refusal). Additionally, there has also been presented a detailed analysis of the experiment performed by Eric J. Johnson and Daniel G. Goldstein. Their research as well as many other independent experiments such as that by Tsvetelina Yordanova of the University of Sofia, both of which yield similar results. The conclusion being that the general population has by and large no rigid stand on organ donation and are gullible to status quo bias, which in turn can determine whether a large majority of people will consent to organ donation or not. Thus, in our paper, we throw light on how governments can use status quo bias to drive positive social change by making policies in which everyone by default is marked an organ donor, which will, in turn, save the lives of people who succumb on organ transplantation waitlists and save the economy countless hours of economic productivity.

Keywords: behavioral economics, game theory, organ donation, status quo bias

Procedia PDF Downloads 281

Authors: Zimu Li, Zheng Wan

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The Suez Canal plays an important role in global shipping networks and is one of the most frequently used waterways in the world. The 2021 canal obstruction by ship Ever Given in March 2021, however, completed blocked the Suez Canal for a week and caused significant disruption to world trade. Therefore, it is very important to quantitatively analyze the impact of the accident on the robustness of the global shipping network. However, the current research on maritime transportation networks is usually limited to local or small-scale networks in a certain region. Based on the complex network theory, this study establishes a global shipping complex network covering 2713 nodes and 137830 edges by using the real trajectory data of the global marine transport ship automatic identification system in 2018. At the same time, two attack modes, deliberate (Suez Canal Blocking) and random, are defined to calculate the changes in network node degree, eccentricity, clustering coefficient, network density, network isolated nodes, betweenness centrality, and closeness centrality under the two attack modes, and quantitatively analyze the actual impact of Suez Canal Blocking on the robustness of global shipping network. The results of the network robustness analysis show that Suez Canal blocking was more destructive to the shipping network than random attacks of the same scale. The network connectivity and accessibility decreased significantly, and the decline decreased with the distance between the port and the canal, showing the phenomenon of distance attenuation. This study further analyzes the impact of the blocking of the Suez Canal on Chinese ports and finds that the blocking of the Suez Canal significantly interferes withChina's shipping network and seriously affects China's normal trade activities. Finally, the impact of the global supply chain is analyzed, and it is found that blocking the canal will seriously damage the normal operation of the global supply chain.

Keywords: global shipping networks, ship AIS trajectory data, main channel, complex network, eigenvalue change

Procedia PDF Downloads 145

Authors: Bin Feng, Zhulin Zong

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Radar systems are critical in the modern military, aviation, and maritime operations, and their proper functioning is essential for the success of these operations. However, due to the complexity and sensitivity of radar systems, they are susceptible to various faults that can significantly affect their performance. Traditional radar fault diagnosis strategies rely on expert knowledge and rule-based approaches, which are often limited in effectiveness and require a lot of time and resources. Deep learning has recently emerged as a promising approach for fault diagnosis due to its ability to learn features and patterns from large amounts of data automatically. In this paper, we propose a radar fault diagnosis strategy based on deep learning that can accurately identify and classify faults in radar systems. Our approach uses convolutional neural networks (CNN) to extract features from radar signals and fault classify the features. The proposed strategy is trained and validated on a dataset of measured radar signals with various types of faults. The results show that it achieves high accuracy in fault diagnosis. To further evaluate the effectiveness of the proposed strategy, we compare it with traditional rule-based approaches and other machine learning-based methods, including decision trees, support vector machines (SVMs), and random forests. The results demonstrate that our deep learning-based approach outperforms the traditional approaches in terms of accuracy and efficiency. Finally, we discuss the potential applications and limitations of the proposed strategy, as well as future research directions. Our study highlights the importance and potential of deep learning for radar fault diagnosis. It suggests that it can be a valuable tool for improving the performance and reliability of radar systems. In summary, this paper presents a radar fault diagnosis strategy based on deep learning that achieves high accuracy and efficiency in identifying and classifying faults in radar systems. The proposed strategy has significant potential for practical applications and can pave the way for further research.

Keywords: radar system, fault diagnosis, deep learning, radar fault

Procedia PDF Downloads 59

Authors: Maharani Yulisti, Amin Mugera, James Fogarty

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Food safety standards have received significant attention in the fisheries global market due to health issues, free trade agreements, and increasing aquaculture production. Vertical coordination throughout the supply chain of fish producing and exporting countries is needed to meet food safety demands imposed by importing countries. However, the complexities of the supply chain governance structures and difficulties in standard implementation can generate safety uncertainty and high transaction costs. Using a Transaction Cost Economics framework, this paper examines the alignment between food safety standards and the governance structures in the shrimp supply chain in Indonesia. We find the supply chain is organized closer to the hierarchy-like governance structure where private standard (organic standard) are implemented and more towards a market-like governance structure where public standard (IndoGAP certification) are more prevalent. To verify the statements, two cases are examined from Sidoarjo district as a centre of shrimp production in Indonesia. The results show that public baseline FSS (Food Safety Standards) need additional mechanism to achieve a coordinated chain-wide response because uncertainty, asset specificity, and performance measurement problems are high in this chain. Organic standard as private chain-wide FSS is more efficient because it has been achieved by hierarchical-like type of governance structure.

Keywords: governance structure, shrimp value chain, food safety standards, transaction costs economics

Procedia PDF Downloads 351

Authors: Chiang-Lead Woo

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In reply to serious environmental problems, the Taiwan government quickly adjusted some articles to suit the needs of environmental protection recently, such as the amendment to article 190-1 of the Taiwan Criminal Code. The transfer of legislation comes as an improvement which canceled the limitation of ‘endangering public safety’. At the same time, the article 190-1 goes from accumulative concrete offense to abstract crime of danger. Thus, the public looks forward to whether environmental crime following the imposition of fines or penalties works efficiently in anti-pollution by the deterrent effects. However, according to the addition to article 38-2 of the Taiwan Criminal Code, the confiscation system seems controversial legislation to restrain ill-gotten gains. Most prior studies focused on comparisons with the Administrative Penalty Law and the Criminal Code in environmental issue in Taiwan; recently, more and more studies emphasize calculations on ill-gotten gains. Hence, this paper try to examine the deterrent effect in environmental crime by economic analysis of law and environmental economics perspective. This analysis shows that only if there is an extremely high probability (equal to 100 percent) of an environmental crime case being prosecuted criminally by Taiwan Environmental Protection Agency, the deterrent effects will work. Therefore, this paper suggests deliberating the confiscation system from supplementing the System of Environmental and Economic Accounting, reasonable deterrent fines, input management, real-time system for detection of pollution, and whistleblower system, environmental education, and modernization of law.

Keywords: confiscation, ecosystem services, environmental crime, ill-gotten gains, the deterrent effect, the system of environmental and economic accounting

Procedia PDF Downloads 143