Hybrid drug dealing: Merging on- and offline spheres when dealing drugs via social media.

BACKGROUND: Research exploring online mediated drug dealing has gained momentum in recent years. Much existing research is characterized by a primary focus on the "online" aspects of drug sales facilitated by social media, resulting in a divide between "on"- and "offline" drug dealing. We wish to bridge this gap, by focusing on the hybridity of dealing drugs via social media and by arguing for a more holistic understanding of contemporary drug dealing. METHODS: This article is based on in-depth digitally facilitated oral interviews with 25 individuals with experience of dealing drugs via social media platforms and encrypted messaging apps and on observational data from different apps and platforms. RESULTS: We found that many sellers start by dealing offline and gradually drift into sales using social media technology. While the internet offers drug sellers new opportunities to expand their business, many sellers are not technological exclusionists but rather adopt a multichannel approach where they sell both via social media and occasionally or regularly also through in-person and technologically analogue means. Additionally, many sellers do not draw clear cut distinctions between whether they use social media, SMS or encrypted apps, but rather see their "drug sales phone" as one medium for all sales related communication. Findings also show that local offline power dynamics continue to influence sellers' ability to build and expand their online business, and that offline as well as online networks play a crucial role in sellers' hiring of helpers and in their bulk drug sourcing. CONCLUSION: We discuss how our findings have analytical, conceptual, and methodological implications for the development of a more nuanced and holistic approach in the study of drug sales involving online technologies.

Does US monetary policy uncertainty affect returns of Asian Developed, emerging, and frontier equity markets? Empirical evidence by using the quantile-on-quantile approach.

This paper examines the impact of the Monetary Policy Uncertainty (MPU) of the United States on Asian developed, emerging, and frontier stock markets using a Quantile-on-Quantile (QQR) approach by using monthly data from January 2006 to December 2022 of 14 Asian countries. The study finds that US monetary policy significantly negatively influences Asian stock markets. This is primarily due to the widespread use of the US dollar as a universal currency, resulting in substantial ripple effects on other nations through trade relationships. In Asian developed markets, MPU is negatively related to Australia and New Zealand. At the same time, it has a positive relationship with Hong Kong and Japan at the upper quantiles. Among Asian emerging markets, MPU negatively impacts Taiwan's, India's, and China's returns, increasing this negative relationship at higher MPU quantiles. Additionally, MPU has a significant negative relationship with Thailand, Indonesia, Korea, and Malaysia returns. In contrast, higher quantiles of MPU have no discernible impact on the Philippines stock returns. In Asian frontier markets, MPU negatively impacts Pakistan's and Sri Lanka's returns. The implications of these findings are twofold: for investors, this study provides valuable insights for hedging activities, allowing for more informed decisions based on the MPU of other countries to identify profitable stocks. For policymakers, this research aids in formulating effective monetary policy strategies. Furthermore, future studies can build upon these results by exploring other markets and comparing their outcomes with the findings presented in this study.

The European Union Emissions Trading System might yield large co-benefits from pollution reduction.

Mitigating greenhouse gas emissions and reducing air pollution represent two pressing and interwoven environmental challenges. While international carbon markets, such as the European Union emissions trading system (EU ETS), have demonstrated their effectiveness in curbing carbon emissions (CO[Formula: see text]), their indirect impact on hazardous co-pollutants remains understudied. This study investigates how key toxic air pollutants-sulfur dioxide (SO[Formula: see text]), fine particulate matter (PM[Formula: see text]), and nitrogen oxides (NO[Formula: see text])-evolved after the introduction of the EU ETS with a comparative analysis of regulated and unregulated sectors. Leveraging the generalized synthetic control method, we offer an ex post analysis of how the EU ETS and concurrent emission standards may have jointly generated sizable pollution reductions in regulated sectors between 2005 and 2021. We provide an aggregate assessment that these pollution reductions could translate into large health co-benefits, potentially in the hundreds of billions of Euros, even when bounding the effect of emission standards. These order-of-magnitude estimates underscore key implications for policy appraisal and motivate further microlevel research around the health co-benefits of carbon abatement.

Do commodities offer diversification benefits during the COVID-19 pandemic crisis? Evidence from dynamic spillover approach.

This paper examines the diversification benefits of commodity indices during the COVID-19 pandemic by analyzing both static and dynamic risk spillovers for the period from January 2, 1998 to September 16, 2020. Using variance decomposition forecasting, we employed static and dynamic analyses based on the estimation of 50-day moving window spillover indices. Globally, the results show significant spillovers between markets during the COVID-19 pandemic crisis. The results show that stock markets are highly interdependent with other financial markets (in both directions), and that commodity markets (except energy) and the bond market are recipients of shocks emanating from stock markets. The main contribution of this paper is to study the return and volatility spillovers between stock and commodity indices before and during the pandemic. This study of shock transmission mechanisms will enable investors to develop optimal diversification and hedging strategies during the crisis. In this context, we found that commodities and US government bonds could offer diversification benefits to investors. In addition, some of these assets may serve as hedging instruments or safe havens during the COVID-19 crisis.

Does climate policy uncertainty drive the extreme spillovers of carbon-energy-shipping markets?

In addressing the ramifications of climate change, the shipping industry, reliant on energy, has been integrated into the Emissions Trading System (ETS). This study utilizes the quantile connectedness model to investigate the information spillover mechanisms and extreme time-varying interconnections among carbon, energy, and shipping markets. Whether climate policy uncertainty drives the extreme interconnections is also discussed during both pre- and post-Paris Agreement periods, by using GARCH-MIDAS model. The empirical findings underscore the following key points: (i) the systemic connectedness is highly sensitive to market conditions and major events, increasing significantly under extreme market conditions; (ii) following the implementation of the Paris Agreement, an elevated level of informational interdependence has manifested between the carbon market and the energy and shipping sectors; (iii) the information transfer mechanism between carbon and shipping sectors creates direct and indirect spillover paths, with crude oil market mediating the indirect path; (iv) climate policy uncertainty greatly affects the extreme time-varying interconnections, and this impact has decreased after the Paris Agreement came into effect. These results offer valuable insights for market policymakers and shipping companies in achieving a balance between carbon emission reduction and shipping business, particularly amidst heightened climate policy uncertainty.

The Effect of Digital Platform Strategies on Firm Value in the Banking Industry.

After digital platforms have become successful in the information technology (IT) industry, incumbents from traditional industries increasingly implement digital platform strategies. However, there is mixed evidence on whether these incumbents benefit from digital platform strategies. To provide systematic insights, we focus on the banking industry. With the emergence of open banking, banks have begun implementing digital platforms to unlock the innovative power of third-party developers. We conducted an event study based on the announcement of digital platform strategies in a global sample of 165 banks. We show that, on average, investors react positively to the announcements. Contrary to our expectations, this effect is more substantial for banks from emerging markets than those from developed markets. Prior artificial intelligence (AI) orientation only partly contributes to investors' favorable perception of a digital platform strategy. These results point to the complex interplay of AI orientation and digital platform strategies, yielding questions for future research.

BMI/Obesity and consumers' price sensitivity: Implications for food tax policies.

We examine the relationship between BMI and food purchase behavior using a unique dataset that links individual-level food purchases to health data. We find that individuals with higher BMI are significantly more sensitive to price changes in vice categories but do not show similar sensitivity in comparable nonvice categories. We rely on past literature that defines and identifies vice categories as those that are tempting and purchased impulsively. We explore the effectiveness of a 10% price increase on vice food categories, a hypothetical policy similar in spirit to a fat tax or sugar tax. We predict that such a tax would substantially reduce consumption of these foods, and would be particularly effective in reducing consumption by individuals with higher BMI.

Global patterns in small-scale cannabis growers' distribution practices: Exploring the grower-distributor nexus.

BACKGROUND: While the supply of cannabis is commonly assumed to be dominated by criminal gangs, a sizable share of the domestic cannabis supply is provided by small-scale growers. This article examines the nature and scope of small-scale growers' distribution practices, with a particular focus on cross-country differences and variations between different types of grower-distributors, i.e., "non-suppliers", "exclusive social suppliers", "sharers and sellers" and "exclusive sellers". METHODS: Based on a large convenience web survey sample of predominantly small-scale cannabis growers from 18 countries, this article draws on data from two subsamples. The first subsample includes past-year growers in all 18 countries who answered questions regarding their market participation (n = 8,812). The second subsample includes past-year growers in 13 countries, who answered additional questions about their supply practices (n = 2,296). RESULTS: The majority of the cannabis growers engaged in distribution of surplus products, making them in effect "grower-distributors". Importantly, many did so as a secondary consequence of growing, and social supply (e.g., sharing and gifting) is much more common than selling. While growers who both shared and sold ("sharers and sellers"), and especially those who only sold ("exclusive sellers"), grew a higher number of plants and were most likely to grow due to a wish to sell for profits, the majority of these are best described as small-scale sellers. That is, the profit motive for growing was often secondary to non-financial motives and most sold to a limited number of persons in their close social network. CONCLUSION: We discuss the implications of the findings on the structural process of import-substitution in low-end cannabis markets, including a growing normalization of cannabis supply.

Does commercialization lead to more intensive management strategies? Decision-making for the utilization of non-timber forest products in a Nahua area of the Sierra Negra, Mexico.

BACKGROUND: The commercialization of non-timber forest products (NTFPs) provides income for rural indigenous households. The integration of NTFPs into formal markets tends to intensify management practices to ensure production and monetary benefits. However, more research is needed to understand the motivations for managing of commercialized species. We examine the influence of social, ecological, and economic factors on traditional management and how they drive the adoption of more or less intensive practices for subsistence and commercially traded NTFPs. METHODS: The study was conducted in the Nahua community of Ixtacxochitla, in the Sierra Negra of central Mexico, where we conducted free lists and semi-structured interviews in 32% of the 88 households to assess socio-ecological variables related to management practices. In addition, we interviewed local traders to assess commercial variables used in a cost-benefit model to calculate the net annual income of commercialized species. Non-metric multidimensional scaling was used to analyze relationships between socio-ecological variables and management practices. We also explored the relationship between management and commercial factors using principal component analysis. RESULTS: We recorded 64 plant and mushroom species of NTFPs used for medicinal, ornamental, ceremonial, and edible purposes, 36 of which are commercialized in the municipal market of Coyomeapan. The commercialized species generated an average annual net income of MXN 67,526 (USD 3924) per family, with five species contributing the most. Species both used for both subsistence and commercialization were managed through incipient in situ gathering, tolerance in ex situ anthropogenic areas, and intensive protection and propagation efforts in ex situ environments. Even the five species with the highest commercial returns were managed across this gradient of practices. Key factors influencing the adoption of more intensive species management practices were feasibility of management, type of species use, ecological abundance, frequency of consumption, and cultural importance. CONCLUSIONS: The intensification of NTFPs management is not solely driven by the commercial value of the products or the level of income generated. Instead, the interaction between socio-ecological and economic factors determines the extent of management practices. The main constraint to the implementation of intensive practices has been the inability to manage species outside their natural habitats, despite their cultural significance and frequent consumption. Understanding the factors involved in the harvesting of NTFPs can serve as the basis for future research aimed at analyzing the conditions for successful and sustainable NTFPs commercialization.

Application of estimand framework to the design and analysis of multi-regional clinical trials.

With the increasing globalization of drug development and the publication of the International Council for Harmonisation (ICH) E17 guideline (ICH International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use 2017), multi-regional clinical trials (MRCTs) have become a preferred option to accelerate the availability of new medical products by design, execution and simultaneous submission under one protocol. MRCTs, with the participation of all major regions including countries from both developed and emerging markets, surely make new drug development more efficient. Even though the proposed estimand framework (ICH E9 (R1) (2019), came later in 2019 and was not mentioned in ICH E17, the application of the estimand framework has the potential to enhance the design, execution, and analysis in MRCTs. Defining an estimand within the regional context in MRCTs is an important issue that requires careful consideration. Given that consistency evaluation of treatment effects across regions is critical in MRCTs, the utilization of the estimand framework for regional consistency evaluation is also worth discussion. This paper aims to address these two questions. The five attributes of the estimand definition are discussed within a multi-regional context. It is imperative to thoroughly consider regional intrinsic/extrinsic factors when planning the estimand and estimation of MRCTs. A holistic approach is summarized to conduct consistency evaluation. When a regional inconsistency is observed, the possible reasons need to be further explored under five attributes of the estimand framework. Two real case studies are discussed to illustrate the application of the estimand framework in the consistency evaluation.

Developing a three stage coordinated approach to enhance efficiency and reliability of virtual power plants.

A Virtual Power Plant (VPP) is a centralized energy system that manages, and coordinates distributed energy resources, integrating them into a unified entity. While the physical assets may be dispersed across various locations, the VPP integrates them into a virtual unified entity capable of responding to grid demands and market signals. This paper presents a tri-level hierarchical coordinated operational framework of VPP. Firstly, an Improved Pelican Optimization Algorithm (IPOA) is introduced to optimally schedule Distributed Energy Resources (DERs) within the VPP, resulting in a significant reduction in generation costs. Comparative analysis against conventional algorithms such as Genetic Algorithm (GA) and Particle Swarm Optimization (PSO) demonstrates IPOA's superior performance, achieving an average reduction of 8.5% in generation costs across various case studies. The second stage focuses on securing the optimized generation data from rising cyber threats, employing the capabilities of machine learning, preferably, a convolutional autoencoder to learn the normal patterns of the optimized data to detect deviations from the optimized generation data to prevent suboptimal decisions. The model exhibits exceptional performance in detecting manipulated data, with a False Positive Rate (FPR) of 1.92% and a Detection Accuracy (DA) of 98.06%, outperforming traditional detection techniques. Lastly, the paper delves into the dynamic nature of the day ahead market that the VPP participates in. In responding to the grid by selling its optimized generated power via the day-ahead market, the VPP employs the Prophet model, another machine learning technique to forecast the spot market price for the day-ahead to mitigate the adverse effects of price volatility. By utilizing Prophet forecasts, the VPP achieves an average revenue increase of 15.3% compared to scenarios without price prediction, emphasizing the critical role of predictive analytics in optimizing economic gains. This tri-level coordinated approach adopted addresses key challenges in the energy sector, facilitating progress towards achieving universal access to clean and affordable energy.

A Critical Inquiry into 'Abuse' in EU Competition Law.

Disagreement abounds on what exactly constitutes an 'abuse' within article 102 TFEU, EU competition law's prohibition of an abuse of a dominant position. This situation is highly undesirable, given the important role this prohibition is expected to play in alleviating concerns about substantial market power and its use in important sectors, typified by actions against 'Big Tech'. This article responds to this problem by analysing and synthesising the jurisprudence of the Court of Justice of the European Union and its evolution to establish the constituent elements of an exclusionary 'abuse'. The article corrects crucial legal misconceptions, including the putative dichotomy between violations 'by object' and 'by effect'; the assumed disparate legal tests for pricing and non-pricing conduct; and the lost distinction between the 'as efficient competitor test' and the 'as efficient competitor standard'. This critical inquiry allows one to draw concrete predictions on the future development of this challenging, yet vital, area of law.

Chlamydia psittaci detected at a live poultry wholesale market in central China.

BACKGROUND: We investigated the presence of Chlamydia psittaci in poultry and the environment in live poultry wholesale markets in Changsha during 2021-2022 and conducted a phylogenetic analysis to understand its distribution in this market. METHODS: In total, 483 samples were analyzed using real-time polymerase chain reaction and 17 C. psittaci-positive samples using high-throughput sequencing, BLAST similarity, and phylogenetic analysis. RESULTS: Twenty-two out of 483 poultry and environmental samples were positive for C. psittaci (overall positivity rate: 4.55%) with no difference in positivity rates over 12 months. Chlamydia psittaci was detected at 11 sampling points (overall positivity rate: 27.5%), including chicken, duck, and pigeon/chicken/duck/goose shops, with pigeon shops having the highest positivity rate (46.67%). The highest positivity rates were found in sewage (12.5%), poultry fecal (7.43%), cage swab (6.59%), avian pharyngeal/cloacal swab (3.33%), and air (2.29%) samples. The ompA sequences were identified in two strains of C. psittaci, which were determined to bear genotype B using phylogenetic analysis. Thus, during monitoring, C. psittaci genotype B was detected in the poultry and environmental samples from the poultry wholesale market in Changsha. CONCLUSIONS: To address the potential zoonotic threat, C. psittaci monitoring programs in live poultry markets should be enhanced.

Next-generation sequencing technology reveals the viruses carried by poultry in the live poultry market of Guangdong, China.

This study aimed to analyze the species and abundance of viruses carried by avian species in live poultry markets. In 2022, we collected 196 bird samples from two representative live poultry markets in Guangdong, China, of which 147 were randomly selected for metatranscriptome sequencing to construct a metatranscriptome library. This analysis yielded 17 viral families. Statistical analysis of the virus abundance of the six libraries showed that Picornaviridae, Retroviridae, Coronaviridae, and Othomyxoviridae were more abundant in the J1, J2, and J3 libraries, and Coronaviridae, Retroviridae, and Faviviridae were more abundant in the Y1, Y2, and E1 libraries. Finally, samples were screened using nested PCR and three viruses were identified. The positive results combined with high-throughput sequencing abundance data showed a positive correlation between virus abundance and the number of positive samples. This study provides scientific data to support the diagnosis and prevention of avian viral diseases.

Assessing the Impact of Individual Market Reforms in Minnesota.

Starting in 2026, Minnesota could experience disruptions to its health insurance marketplace caused by the anticipated sunset of federal premium subsidy enhancements, made available through the Inflation Reduction Act of 2022, as well as the expiration of state funding for its reinsurance program. With reduced premium subsidies, fewer people might enroll in marketplace plans, which could lead to higher premiums and market instability. The expiration of reinsurance, which partially offsets insurers' claims costs for people with high expenditures, could exacerbate these issues. In this study, researchers estimate the effects of implementing state-funded subsidies to bolster Minnesota's marketplace given these anticipated changes. They also study the impact of replacing the state's Basic Health Program with a similarly structured marketplace plan. The policy reforms that researchers consider were developed by the Minnesota Council of Health Plans and share similar goals with legislation recently proposed by Minnesota policymakers, such as HF 96, a bill authorizing study of a public option that also proposed to temporarily enhance marketplace subsidies.

A comparative review on Ayam Cemani chicken - A comparison with the most common chicken species in terms of nutritional values, LCA, price and consumer acceptance.

Chickens are definitely among the most prevalent and broadly distributed domestic species. Among these, Ayam Cemani, also known as black chicken, is a rare Indonesian chicken breed originating from the island of Java. The main characteristic of this breed is that the body, both internally and externally, is entirely black. This is due to a condition named fibro melanosis, in which there is an over accumulation of melanin pigment in body tissues. In addition to this, Ayam Cemani meat results to be also higher in protein content and lower in fat. Moreover, Ayam Cemani meat is also known to have antioxidant and glucose-binding capacities. These properties make it very desirable within the market and consequently very expensive. Their meat is also used traditionally by tribal healers in the treatment of some chronic illnesses. In general, compared to other chicken species, the Ayam Cemani showed an higher genetic resistance to some infectious diseases commonly affecting poultry species. As regard the breeding, Ayam Cemani is a unique breed which may only be raised in specific locations, characterized to be a slowly growing breed with a lower body weight in comparison to the other poultry breeds. Nowadays, due to an improvement in the management, the nutrition and diseases control, it is possible to enhance their productivity. To date, there are not many studies in the literature on the specific breed of Ayam Cemani. For this reason, this review aims to provide a comprehensive overview of all the knowledge of the Ayam Cemani breed, the nutritional composition of the meat and consumer acceptance.

Life cycle of private equity investments in physician practices: an overview of private equity exits.

Private equity (PE) firms acquire and grow physician practices through add-on consolidation, generating outsized returns on the sale of the acquisition in 3-8 years ("exit"). Private equity's abbreviated investment timeline and exit incentives may deter long-term investments in care delivery and workforce needed for high-quality care. To our knowledge, there has been no published analyses of the nature or duration of PE exits from physician practices. We address this knowledge gap by using novel data to characterize PE exits from dermatology, ophthalmology, and gastroenterology, physician specialties with the largest number of acquisitions between 2016 and 2020. Of 807 acquisitions, over half (51.6%) of PE-acquired practices underwent an exit within 3 years of initial investment. In nearly all instances (97.8%), PE firms exited investments through secondary buyouts, where physician practices were resold to other PE firms with larger investment funds. Between investment and exit, PE firms increased the number of physician practices affiliated with the PE firm by an average of 595% in 3 years. Findings highlight the rapid scale of ownership change and consolidation under PE ownership and motivate evaluations by policymakers on the effects of PE ownership over the life cycle of PE investments.

The rise in popularity of central bank digital currencies. A systematic review.

Central bank digital currencies (CBDCs) have been growing in popularity since 2018, as worldwide countries explore their impact and implementation options. This article analyzes the state of research around central bank digital currencies and the evolving landscape of CBDCs, and explores emerging areas of research and trends by using the PRISMA method and VOSviewer, with the goal of showing the main opportunities and challenges related to them. AMSTAR, DistillerSR, Eppi-Reviewer, ROBIS, and SRDR were the screening and quality evaluation tools employed for study eligibility criteria, design screening and content selection, text analysis data extraction, methodological quality predictors, and reliable and reproducible evidence assessment. A total of 1024 articles on central bank digital currencies were identified in Scopus and the Web of Science, out of which 747 have been included in the review (documents which were not in English language and not categorized as journal articles were excluded). Through an analysis of the relevant literature, the study categorizes CBDC research into positive, negative and neutral research, with a particular focus on sustainability issues, and conducts a keyword co-occurrence analysis using VOSviewer, following a narrowing down of the relevant articles to be included in the study by applying the PRISMA framework. This generates an overall view for experts and researchers who can use the main analyzed features of CBDCs and adapt them accordingly, taking into account relevant macroeconomic characteristics. The study highlights the need to continue interdisciplinary research, by adapting the research and CBDC characteristics to keep up with the latest technologies and with the shift towards green finance, and explores the elaborate relationship between finance, technology and sustainability.

Emerging markets' response to COVID-19: Insights from arbitrages strategies.

Global capital markets are sensitive to extreme and physical events. This research explores the influence of COVID-19 on cross-border arbitrage strategies in emerging markets. Specifically, this study develops a novel cross-market pairs trading strategy centered on healthcare stocks, tailored for the unique dynamics of the emerging market environment. The feasibility of cross-border arbitrage strategies in emerging markets is demonstrated by comparing the performance of the strategy before and after the outbreak. Additionally, sensitivity analysis of the risk preference factors before and after the COVID-19 outbreak further supports this argument. These findings offer valuable insights for international investors seeking arbitrage between emerging and other markets and, effectively responding to global shocks.

Agro-industrial waste management employing benefits of artificial intelligence.

By 2050, the world's population is predicted to reach over 9 billion, which requires 70% increased production in agriculture and food industries to meet demand. This presents a significant challenge for the agri-food sector in all aspects. Agro-industrial wastes are rich in bioactive substances and other medicinal properties. They can be used as a different source for manufacturing products like biogas, biofuels, mushrooms, and tempeh, the primary ingredients in various studies and businesses. Increased importance is placed on resource recovery, recycling, and reusing (RRR) any waste using advanced technology like IoT and artificial intelligence. AI algorithms offer alternate, creative methods for managing agro-industrial waste management (AIWM). There are contradictions and a need to understand how AI technologies work regarding their application to AIWM. This research studies the application of AI-based technology for the various areas of AIWM. The current work aims to discover AI-based models for forecasting the generation and recycling of AIWM waste. Research shows that agro-industrial waste generation has increased worldwide. Infrastructure needs to be upgraded and improved by adapting AI technology to maintain a balance between socioeconomic structures. The study focused on AI's social and economic impacts and the benefits, challenges, and future work in AIWM. The present research will increase recycling and reproduction with a balance of cost, efficiency, and human resources consumption in agro-industrial waste management.