The Traveling Salesman Problem in the Natural Environment

Is it possible for humans to navigate in the natural environment wherein the path taken between various destinations is 'optimal' in some way? In the domain of optimization this challenge is traditionally framed as the "Traveling Salesman Problem" (TSP). What strategies and ecological considerations are plausible for human navigation? When given a two-dimensional map-like presentation of the destinations, participants solve this optimization exceptionally well (only 2-3% longer than optimum)^1, 2^. In the following experiments we investigate the effect of effort and its environmental affordance on navigation decisions when humans solve the TSP in the natural environment. Fifteen locations were marked on two outdoor landscapes with flat and varied terrains respectively. Performance in the flat-field condition was excellent (∼6% error) and was worse but still quite good in the variable-terrain condition (∼20% error), suggesting participants do not globally pre-plan routes but rather develop them on the fly. We suggest that perceived effort guides participant solutions due to the dynamic constraints of effortful locomotion and obstacle avoidance

Tax Policy and Corporate Saving

macroeconomics,corporate saving, tax policy

Global Costs and Benefits of Drinking-water Supply and Sanitation Interventions to Reach the MDG Target and Universal Coverage

This report provides new estimates of the costs and economic returns on basic water supply and sanitation interventions on a national, regional, and global scale as they relate to achieving the Millennium Development Goals (MDGs)

Environmental and aesthetic impacts of small docks and piers, workshop report: Developing a science-based decision support tool for small dock management, phase 1: Status of the science

Few issues confronting coastal resource managers are as divisive or difficult to manage as regulating the construction of private recreational docks and piers associated with residential development. State resource managers face a growing population intent on living on or near the coast, coupled with an increasing desire to have immediate access to the water by private docks or piers. (PDF contains 69 pages

Scaling Success: Lessons from Adaptation Pilots in the Rainfed Regions of India

"Scaling Success" examines how agricultural communities are adapting to the challenges posed by climate change through the lens of India's rainfed agriculture regions. Rainfed agriculture currently occupies 58 percent of India's cultivated land and accounts for up to 40 percent of its total food production. However, these regions face potential production losses of more than $200 billion USD in rice, wheat, and maize by 2050 due to the effects of climate change. Unless action is taken soon at a large scale, farmers will see sharp decreases in revenue and yields.Rainfed regions across the globe have been an important focus for the first generation of adaptation projects, but to date, few have achieved a scale that can be truly transformational. Drawing on lessons learnt from 21 case studies of rainfed agriculture interventions, the report provides guidance on how to design, fund and support adaptation projects that can achieve scale

Competition policy review

This is the first comprehensive review of Australia’s competition laws and policy in over 20 years. The National Competition Policy Review (The Hilmer Review) of 1993 underpinned the development of the National Competition Policy – a co-operative initiative of the Commonwealth and State and Territory governments that the Productivity Commission found contributed to a surge in productivity, directly reduced some prices and stimulated business innovation. The subsequent Review of the Competition Provisions of the Trade Practices Act (The Dawson Review) of 2003 examined the operation of the competition laws and resulted in some strengthening of the provisions. There has been considerable change in the Australian economy since the Hilmer Report of the early 1990s and the boost in productivity that underpinned the growth in living standards over the past two decades is waning. The Competition Policy Review will examine the broader competition framework to ensure that it continues to play a role as a significant driver of productivity improvements and to ensure that the current laws are operating as intended and are effective for all businesses, big and small.   MESSAGE FROM THE PANEL This is our Final Report reviewing Australia’s competition policy, laws and institutions. The Panel undertook a stocktake of the competition policy framework across the Australian economy. Although reforms introduced following the Hilmer Review led to significant improvements in economic growth and wellbeing, the Panel believes that renewed policy effort is required to support growth and wellbeing now and into the future. To this end, we have reviewed Australia’s competition policy, laws and institutions to assess their fitness for purpose. Taken together, our recommendations comprise an agenda of reinvigorated microeconomic reform that will require sustained effort from all jurisdictions. We believe this commitment is necessary if Australia is to boost productivity, secure fiscal sustainability and position our economy to meet the challenges and opportunities of a rapidly changing world. Given the forces for change already bearing on the Australian economy, delaying policy action will make reform more difficult and more sharply felt. An early response will make the reform effort more manageable over time, allowing Australians to enjoy higher living standards sooner rather than later. The recommendations and views expressed in this Final Report draw upon the expertise and experience of each member of the Panel. Importantly, we have also had the benefit of hearing from a wide cross-section of the Australian community and from participants in all sectors of the economy

Corporate tax structure and production

The authors provide an empirical framework for assessing the effects of tax policy on an array of producer decisions about output supplies and input demands in Mexico, Pakistan, and Turkey. They specify and estimate a dynamic production structure model with imperfect competition for selected industries in these countries. The model results suggest that tax policy affected production and investment and further that selective tax incentives such as investment tax credits, investment allowances, and accelerated capital consumption (depreciation) allowances are more cost effective at promoting investment than more general tax incentives such as corporate tax rate reductions. The long run cost effectiveness of these incentives - except corporate tax rate reductions, which proved cost ineffective in all cases - varies by country. In Turkey, investment allowances and capital consumption allowances were cost effective. In Mexico, neither investment tax credits nor accelerated capital consumption allowances were cost effective. In contrast, in Pakistan, both investment tax credits and accelerated capital consumption allowances were cost effective. In the intermediate run, defined as tax policy impact after one year, only the investment allowances and accelerated capital consumption allowances available to Turkish industries proved cost effective. To make selective tax incentives more effective, investmenttax credits must be refundable and carrying forward investment depreciation allowances must be permitted. If stimulating investment expenditure is the sole objective of tax policy, reducing the corporate tax rate is not a cost effective instrument to achieve this objective.Economic Theory&Research,Environmental Economics&Policies,International Terrorism&Counterterrorism,Public Sector Economics&Finance,Banks&Banking Reform

"The Minskyan System, Part II: Dynamics of the Minskyan Analysis and the Financial Fragility Hypothesis"

This is the second part of a three-part analysis of the Minskyan framework. It studies in detail the dynamics at the root of the endogenous financial weakening of capitalist economic systems. This part combines the properties presented in part I with other important concepts, such as the paradox of leverage and conventional expectations, to explain the Financial Instability Hypothesis. It is demonstrated that the signs of fragility are not always visible and that financial weakening can take many different (even though well-defined) routes. This is used to draw some conclusion about the appropriate way to test for this hypothesis and the limit of data.

Economic evaluation of environmental research: The value of environmental research used in the Great Lakes Coastal Catchments Initiative

Environmental research has been increasing due to growing diverse environmental concerns regarding sustainability, climate change, natural resource depletion, waste management, and air and noise pollution. Economic valuation of environmental research can assist in guiding research planning and expenditure. Yet environmental research is difficult to evaluate due to the dominance of non-market benefits and difficulties identifying tangible outputs and outcomes from research. This paper attempts to apply an existing valuation framework to an empirical case study to examine the difficulties and limitations of economic valuations of environmental research. In the empirical case study environmental research and other technical and managerial inputs were used to develop a policy output. Policy implementation will result in environmental outcomes with subsequent economic benefits. The primary purpose of this paper is to explore the complexities and limitations of valuing environmental research, in particular the counterfactual and uncertainty. Section 2 outlines the generic framework for valuing environmental research. Section 3 describes the valuation method used in this empirical analysis. Section 4 provides background to the case study and applies the chosen method to value the environmental research. The limitations encountered during the assessment are highlighted in Section 5, and Section 6 concludes with final comments regarding economic valuations of environmental research.Research and Development/Tech Change/Emerging Technologies,