Dimitrios A. Giannias

A Quality of Life Based Ranking of Canadian Cities

This paper uses a hedonic equilibrium model to provide a quality of life based ranking of 13 Canadian cities. The empirical results show that the quality of life based rankings and the variations of the indices are affected by the differences in the distribution of housing characteristics across cities. The results place Calgary at the top of the ranking followed by Vancouver, Edmonton, and Winnipeg. These four cities remain on the top of the ranking in the same order when the housing characteristics are held constant across cities.

Policy analysis for an amicable, efficient and sustainable inter-country fresh water resource allocation

Abstract In the area of fresh surface water resources, which are gradually becoming more scarce, sustainable utilization implies the need for policies aiming to provide adequate water supplies for everyone in both national and international contexts. Many international river basins are shared without any formal intergovernmental agreement, while bilateral agreements guaranteeing amicable cooperation amount to a handful. This paper presents a simple economic-ecologic model within which it examines input-output controls, social input prices, bilateral water trade, a water market for all water users, and a fixed water allocation agreement, as possible water policies for cross border river water sharing. All of these policies can satisfy the conditions for maximum joint economic benefits, while simultaneously working towards maintaining the functional integrity of river ecosystems. In theory, therefore, these policies are of equal use. There are, however, several costs associated with policy administration which are hidden and must explicitly be taken into account. The analysis indicates that bilateral water trade can prove a workable, efficient and sustainable policy for cross border water sharing.

Housing quality differentials in urban areas

This paper applies an equilibrium quality theory for differentiated products to estimate the willingness to pay for improvements in the air quality of Chicago, Cleveland, Dallas, Houston, and Indianapolis. The empirical results show (i) that the structural approach and the standard non-structural approach give very different benefit figures even for small improvements in air quality, and (ii) that a uniform improvement in air quality implies significant distributional effects.

Fresh surface water resource allocation between Bulgaria and Greece

This paper addresses the important issue of transboundary sharing of fresh surface water resources, including quantity and quality dimensions. It carves a simple economic model of the benefits which can be generated by maximizing the joint profits earned, when the resource is shared efficiently between two countries. The appropriate policy instrument towards this end is a bilateral agreement to charge the same water price to all water users in a given sector. Market clearance will then follow to determine the optimal water price. The case of the Nestos river flowing through Bulgaria and Greece, but overexploited by Bulgaria, in the Balkans is used as a case study. The empirical estimation of a fixed proportions production function for corn derives a marginal water value of the Nestos water for Greece. This value, which applies under the current non-cooperative solution, is higher than the optimal water price in the cooperative solution.

Consumer Benefit From Air Quality Improvements

This paper applies a simultaneous equations estimation technique to estimate a hedonic equilibrium model. The estimation results are used to compute consumer benefit from air quality improvements.

Economic Growth and the Environment: The European Union Case

One of the most debatable issues in Economics is the relationship between economic growth and the environment. From the policy point of view, what is important is the formulation of the best-suited policies for both growth and the environment. But the implementation of regional and environmental policies requires the existence of methods for evaluating the economic and environmental situation in each country. This paper offers such a method and applies it in the case of European Union (EU) countries member-states by positioning them in an Environmental Quality-Income map.

Index Based Regional Analysis: The Case of the Former Soviet Union and Russia

This paper presents a methodology for analysing inter-regional differences and identifying a suitable combination of policies for a set of regions. The methodology is based on the development of a composite index and is applied to compare (i) the members of the Former Soviet Union (FSU) and (ii) the regions of Russia. All variables considered and incorporated in the relevant index are (1) scaled from 0–100, so that the index is independent of units of measurement, and (2) weighted using survey results. According to the adapted regional development index Lithuania is on the top of the ranking followed by Latvia, Estonia, Ukraine, Belarus, Georgia, Russia, Armenia, Moldova, Azerbaijan, Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan. The FSU countries are positioned on a regional development index – per capita income mapping to investigate whether emphasis should be placed on regional, environmental or sustainable development policies. Finally, an index that incorporates various socioeconomic components is computed for the regions of Russia which are subsequently classified based on the value of this index. This classification shows that the regions with the best index values are in the Central–Southern part of the country (with the exception of Sackha Republic, which is in the West). The regions with the lower index values are in the Western part of the country and in parts of Central Russia (Mariel republic, Moldovia Republic, Perm region).

Multicriteria analysis-based total university evaluation: the case of the Greek departments of economics

Different methodologies for the assessment of universities have been developed over the years using criteria such as research, teaching and social input, which have been an issue of controversy. University rankings have received a lot of criticism but are still very popular for a number of parties such as academics, students, parents, funders, employers and society. Greek universities have not been ranked, up to date. The present paper presents a methodology for ranking universities based on research and education and uses the Greek departments of economics as a case study. The results allow the interested party to judge the overall performance (research and education) of the department or the research/education performance accordingly depending on the partys needs.

Regional tourism industry indices and the allocation of European union and State funding: the case of Greece†

An interregional comparison provides useful information for all types of decision maker. In general, consumers consider a variety of factors, e.g., the environmental characteristics of a region, as well as all relevant costs, when they make plans or travel for their vacation. A regional tourism industry index that is based on such factors receives special attention because of its all inclusive nature, i.e. one that is able to provide useful information to consumers for planning their tourism or recreational activities as well as to policy makers for planning policies to support specific activities or regions. An analysis of consumers decision making indicates that the weights used for the regional variables considered and included in the index should not vary across regions. Given this, a regional tourism industry index is computed for the 10 regions of Greece. To obtain this index, the values of all variables considered are scaled from 0 to 100, so that the index is independent of units of measurement, and all attributes are assigned weights by the consumer. Moreover, it is investigated whether the regional allocation of the European Union and state funding for the tourism industry or the environment is directed to the regions that have a greater index value or equivalently have the potential for further development of their tourism industry. Finally, a rank criterion is introduced that is able to indicate how the allocation of European Union and state funding needs to be changed in order to increase its effectiveness relative to the objectives of the funding authorities. Copyright

Marginal values of water quantity and quality variations

A model is presented that incorporates water quantity and quality aspects and a market-based system is developed to characterize optimum water allocations between two regions or countries. A methodology is developed to compute an optimal policy that could support an interregional optimum water quantity and quality allocation in case that the relevant authorities of both regions agreed to impose it. The methodology is illustrated using the case of the Nestos river in the Balkans.