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This paper involves developing financial utility function that considers compliance to a certain qualitative characteristic and studies the impact on market equilibrium prices, should this criterion be Sharia compliance, fair-trade, environmental, social and governance principles or other ethical aspect. The goal is to show that individual utility can depend on other parameters than wealth and risk aversion, that therefore influence equilibrium market prices. This has been done by examining a possible utility function that takes into account individual sensitivity to the criterion and the intrinsic quality of compliance of this parameter. In order to prove the effectiveness of the proposed utility function, a simulation is made using agent-based approach with NetLogo platform. Upon examination of the impact of these parameters, it becomes clear that compliance to a qualitative characteristic would impact individual utility, supply and demand and result in equilibrium prices. This research highlights the importance of ethical arguments on individual decision making and how markets behave to this.
A major challenge for many countries is the implementation of environmental regulations developed to reduce or eliminate air, water, and other pollutants. Recent efforts to ensure value for money in environmental protection, examine how to improve regulatory design, compliance promoting, and regulatory enforcement to deter and prevent regulatory violation. Work in accountability mechanisms such as performance audits have helped identify regulatory implementation issues. Opportunity exits to supplement traditional compliance promotion with new environmental data sources, including from citizen science.
Using an online survey with about 650 persons living in urban areas in Vietnam and working in different job positions, this chapter aimed to explore how they perceived various measures in containing COVID-19 and how they complied with and evaluated different government policies in controlling the pandemic. In particular, we disaggregated data of the urban workers into gender (male vs. female), job positions (wage-earners vs. other), social insurance participation (mandatory, voluntary, and non-participating), and self-rated health (good vs. bad). We found that the respondents highly appreciated the government with the provided information of COVID-19 and the implemented policies to contain the pandemic. People showed quite good compliance with the national social distancing policies since they went out of their homes mostly for essential work, while very rarely for other reasons or non essential work. We could see various differences in perceptions and compliance levels of the respondents in terms of age, gender, residential area, and health status. Based on those findings along with the existing studies, we recommended that appropriate measures stabilising social and economic activities within the country should be continuously implemented so as to maintain or alternate jobs for people working in severely affected economic sectors. Also, providing accessible and affordable healthcare measures to all people, especially for poor and informal workers who are particularly risky to infectious diseases, should also be given great consideration. Sufficient goods and services for people to meet their basic needs during social distancing should be continuously maintained.