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Topic Review
Experimental Economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in order to mimic real-world incentives. Experiments are used to help understand how and why markets and other exchange systems function as they do. Experimental economics have also expanded to understand institutions and the law (experimental law and economics). A fundamental aspect of the subject is design of experiments. Experiments may be conducted in the field or in laboratory settings, whether of individual or group behavior. Variants of the subject outside such formal confines include natural and quasi-natural experiments.
  • 784
  • 31 Oct 2022
Topic Review
Health Star Rating System
The Health Star Rating System (HSR) is an Australian Government initiative that assigns health ratings to packaged foods and beverages. The Health Star Rating System was established in 2014 as a preventative measure in slowing or reversing the rate of overweight Australians. According to the Australian Bureau of Statistics, over 63% of Australian adults were classified either overweight or obese at that time. The purpose for the Health Star Rating is to provide a visual comparison of like for like products, to assist consumers into distinguishing and choosing the healthier options. It was designed to target time-deprived working adults as well as parents and children who were less likely to check how healthy each individual product was, through examination of the nutritional facts label on the back of products. Ratings scale by half star increments between half a star up to five stars, with the higher the rating, the healthier the product. These scores are determined through the use of the Health Star Rating Calculator, which was created by the federal and state governments in collaboration with leading health industry consumer groups and expert nutritionists. The calculator uses nutritional information such as total sugar, sodium, energy and other variants to obtain a rating for the product. Points are added for "healthy" nutrients such as fibres, proteins and vegetable matter whilst points are deducted for "unhealthy" nutrients; nutrients that have been scientifically linked to chronic health disease, such as fats and sugars. There are two types of HSR logos that companies can add to their packaging, one which simply displays the rating and another which depicts the rating along with some of the key nutritional categories. The Health Star Rating has received criticism over the effectiveness of the calculator and how some companies have potentially manipulated its use. The system has undergone consistent internal monitoring including a two-year review and is currently undertaking a five-year review. An early preview of the five year report was made available for public viewing from February 2019. The Australian Government has stated that it has closely followed external input and advice from independent journals and papers to continually improve on the system and resolve problems as they arise.
  • 783
  • 20 Oct 2022
Topic Review
EU ETS system
To facilitate greenhouse gas reduction, the European Commission (EC) announced its plan to introduce an ETS by 2005. Between 2005 and 2007, Phase I was conducted for 25 EU members. Starting in 2008, Phase II was expanded to 31 member countries, including new members. Phase III is in operation between 2013 and 2020, and Phase IV is scheduled to run from 2021 to 2030.The changes and development in the EU ETS system increase the informational efficiency of the carbon market and contribute to actual emissions' reductions.
  • 783
  • 28 Oct 2020
Topic Review
Green Port Implementation in Indonesia and Circular Economy
Several public seaports and fishing terminals are located in the same port complex but have different fragmented operations such as waste management. It is possible to provide a new initiative to ensure sustainability for all entities in the surrounding port ecosystem through the application of Green Port using the circular economy approach and mixed linear programming model. It was discovered that the integration model has the potential to generate new energy by recycling waste from all related entities in the production of a few main fishing products such as tuna, sardine, and squid, as well as vessel traffic, facilities, and cargo flow interactions in addition to other port operations.
  • 782
  • 06 Jun 2022
Topic Review
Global Wine Tourism during COVID-19
To compensate for loss of business during the COVID-19 crisis, wineries in the tourism industry had to apply new strategies. The year 2020 will be remembered as a year of disruption, when the outbreak and spread of the SARS-CoV-2 virus (COVID-19), along with the global efforts to contain it, caused ruptures—politically, economically, socially, and technologically. The lucrative tourism sector was severely affected as travel restrictions and lockdowns were enforced around the world, reducing it in terms of visitor numbers to 1990 levels. Wine tourism is an important component of national tourism for many wine-producing countries, comprising leisure, culinary, experiential, historical, and cultural visits, which were heavily impacted by this disruption. From the perspective of winery owners, visitors to their cellar door and tasting facilities have become an increasingly important revenue stream. Therefore, the suffering endured was acute, as wineries engaged in wine tourism had to quickly adapt their business model and strategies to fit the rapidly changing trading environment in order to stay viable. Many were forced to rethink their marketing approach, reimagining their tourism offerings. Some owners, however, saw the disruption as an opportunity to reset the tourism industry, to implement a more innovative and sustainable foundation. For this reason, it is of great importance to investigate the reaction of winery operators on the market changes.
  • 782
  • 05 May 2022
Topic Review
B Corps’ Social Media Communications
A growing emphasis on stakeholder values of social and environmental responsibility and the triple bottom line (TBL) thinking led to the emergence of B Corporations (hereafter B Corps). B Corps are social enterprises that are committed to the TBL and certified by B Lab, a non-profit organization that assesses corporations’ overall impact of their decisions on their workers, customers, community, and the environment. Although B Corps serves as a catalyst for sustainable development, little is known about how they communicate on social media during a crisis. In this study, we examined the social media communications of B Corps to (1) identify salient topics and themes, (2) analyze how these themes align with the TBL, and (3) evaluate social media performance against industry benchmarks. We focused on the apparel, footwear, and accessories (AFA) sectors in the U.S. and chose Twitter, a platform known for crisis communication. Using a qualitative method, we found four topics and 21 underlying themes. Topics related to social/environmental issues and COVID-19 were most dominant, followed by product/brand promotions. Further classification of specific themes and cases from a TBL perspective demonstrated that, overall, B Corps in the AFA sectors leveraged various approaches to promote balance between each TBL dimension. Lastly, although collectively B Corps exceeded some of the Twitter industry benchmarks, at an individual level, most brands had room for improvement to build a stronger community and promote synergy among the three pillars of the TBL.
  • 781
  • 23 Sep 2021
Topic Review
Banking as a Service
Banking as a Service (BaaS) (also: Banking-as-a-Service) is an end-to-end process ensuring the overall execution of a financial service provided over the Web. Such a digital banking service is available on demand and is carried out within a set time-frame.
  • 782
  • 26 Oct 2022
Topic Review
Bibliometric Analysis of Supplier Management
This entry presents the results of a bibliometric analysis of supplier management. We conducted a bibliometric analysis based on 4687 papers on supplier management from 1997 to 2017. Through a comparative analysis of the four stages using Bibexcel and Ucinet6 software, this paper explores the evolution of supplier management from the theme and cluster perspectives. The results show that supplier management research has made breakthroughs in both breadth and depth. Representative research themes, such as “sustainable supply chain”, “corporate social responsibility”, “knowledge management”, etc., have gradually penetrated into the field of supplier management. Research related to “supplier selection” and “supplier relations” have always been of the highest strategic importance, and themes in “supplier relations” cluster such as “trust” and “commitment” have gradually attracted more and more researchers' attention. The “inventory” cluster has also been a research focus, and the structural stability and maturity of the cluster have gradually improved. The “innovation” cluster is a relatively “open” cluster, and its impact on the entire research filed of supplier management has been gradually increasing. More importantly, the “sustainability” cluster is an evolving cluster, research themes related to “sustainability”, such as “green supply chain”, “sustainable supply chain” and “green supplier selection”, will play an increasingly important role in the field of supplier management.
  • 778
  • 29 Oct 2020
Topic Review
Sunday Shopping
Sunday shopping, also called Sunday trading, refers to the ability of retailers to operate stores on Sunday, a day that Christian tradition typically recognises as a day of rest. Rules governing shopping hours, such as Sunday shopping, vary around the world and some countries and subnational jurisdictions ban or restrict Sunday shopping.
  • 774
  • 22 Nov 2022
Topic Review
Eurasian Economic Community
The Eurasian Economic Community (EAEC or EurAsEC) was a regional organisation between 2000 and 2014 which aimed for the economic integration of its member states. The organisation originated from the Commonwealth of Independent States (CIS) on 29 March 1996, with the treaty on the establishment of the Eurasian Economic Community signed on 10 October 2000 in Kazakhstan's capital Astana by Presidents Alexander Lukashenko of Belarus, Nursultan Nazarbayev of Kazakhstan, Askar Akayev of Kyrgyzstan, Vladimir Putin of Russia, and Emomali Rahmon of Tajikistan. Uzbekistan joined the community on 7 October 2005, however later withdrew on 16 October 2008. During the 14 years, the EAEC implemented a number of economic policies to unify the community. The Customs Union of Belarus, Kazakhstan, and Russia was formed on 1 January 2010, and later renamed the Eurasian Customs Union. The four freedoms of movement modelled after the European Union (goods, capital, services, and people) were fully implemented by 25 January 2012, with the formation of the Eurasian Economic Space. On 10 October 2014, an agreement on the termination of the Eurasian Economic Community was signed in Minsk after a session of the Interstate Council of the EAEC. The Eurasian Economic Community was terminated from 1 January 2015 in connection with the launch of the Eurasian Economic Union. While the Eurasian Economic Union effectively replaces the community, membership negotiations with Tajikistan are still ongoing. All other EAEC members have joined the new union.
  • 777
  • 04 Nov 2022
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