econ papers | Gist.Science

CBGA-SAC: A CVaR-Constrained Deep Reinforcement Learning Framework for Portfolio Optimization

This paper proposes CBGA-SAC, a unified deep reinforcement learning framework that integrates CNN-BiLSTM-Attention for temporal risk extraction and Graph Attention Networks for dynamic asset correlations to optimize portfolio rebalancing under Conditional Value-at-Risk constraints, demonstrating superior risk-adjusted returns and robustness during market regime shifts compared to traditional and baseline deep learning models.

R Lavanya, Shivani Agarwal, Vinay Dwivedi, Pavan Kumar Varma Kothapalli, Venkata Sandeep Dhullipalla, Megha Sharma, Nish (…)2026-10-16

📈 economics

Clearance time and effective patent term in medical devices: evidence from EU and US records

This paper analyzes how regulatory clearance times in the EU and US differentially erode effective patent terms for medical devices, revealing that EU certification consumes significantly more patent life with greater duration variability and no statutory restoration compared to US pathways, thereby creating distinct strategic incentives for market entry and firm size.

Andreas Peters2026-10-16

📈 economics

Donald Dewar’s mistake: Incomplete proportionality in the Scottish Parliament

This paper analyzes how Donald Dewar's choice of the Mixed-Member Proportional electoral system for the Scottish Parliament, intended to prevent single-party majorities, ultimately failed to ensure proportionality, leading to the SNP's 2011 majority and subsequent political hegemony due to path dependencies and election reversals.

Iain McLean2026-10-16

📈 economics

How Does Quality Content Translate into Brand Equity? The Serial Mediating Role of Perceived Credibility and Parasocial Relationships in the Instagram Influencer Context

This study demonstrates that Instagram content quality enhances brand equity not directly, but through a sequential mediation process where high-quality content first builds perceived credibility, which then fosters parasocial relationships that ultimately drive brand value.

Yavuz Selim Gülmez, Ahmet Kayaoğlu, Erkut Kuldaş, Hanife Yeşilyurt2026-10-16

📈 economics

Maternal Risk Preferences and Early Childhood Investments and Developmental Outcomes Across Rural India

This study finds that in rural India, mothers with higher risk and ambiguity aversion make greater nutritional investments in their children, leading to significantly improved cognitive and executive function outcomes that are comparable in magnitude to the negative effects of socioeconomic disadvantage.

Michael Cuna, Lenka Fiala, Min Sok Lee, John List, Sutanuka Roy2026-10-16

📈 economics

The Economic Consequences of the Opium War: Spatial Dimensions *

This paper demonstrates that Western colonial intervention in 19th-century China significantly reduced capital costs across the majority of the country through geographic spillovers extending up to 450 kilometers from treaty ports, highlighting that ignoring such spatial effects leads to a substantial underestimation of geographically targeted policies.

Wolfgang Keller, Carol H. Shiue2026-10-16

📈 economics

GDP RATE: THE STORY BEHIND A Critical Examination of GDP Measurement, Growth, and Per-Capita Income

This paper critically examines the limitations of aggregate GDP as a standalone measure of economic welfare by analyzing the distinctions between nominal and real growth, per-capita income, and income distribution, using a Bangladesh case study to argue for the integration of complementary indicators and improved household-level data collection.

Md. Mazedul Islam2026-10-16

📈 economics

Does the Choice of Lookback Window Create Model Risk in Historical Value-at-Risk?

This paper demonstrates that the choice of lookback window in Historical Value-at-Risk creates material model risk by producing significant, non-monotonic variations in VaR estimates despite passing regulatory backtesting, thereby necessitating the disclosure of window length and interpolation conventions as critical model choices.

Mehul Mehta, Prabesh Bista, Moon Shimray, Hrishita Harsh Kumar2026-10-16

📈 economics

Strategic Decarbonization under the EU Carbon Border Adjustment Mechanism: An Evolutionary Game Model for Morocco

This study employs an evolutionary game model to demonstrate how Morocco can achieve strategic decarbonization under the EU's Carbon Border Adjustment Mechanism by identifying the specific economic conditions under which coordinated government policy support and firm-level low-carbon adoption become a stable equilibrium.

Tarek DRISSI BOUZAIDI, Faouzi DAOUI, Said TOUNSI, El hassane MANOUZE, Sara MOUJTAHID, Mohamed IDALFAHIM2026-10-16

📈 economics

Financial Strain or Changing Preferences? Out-of-Pocket Medical Payments, Hospitalization, and Household Consumption in France

Using French household data, this paper finds that out-of-pocket medical payments significantly reduce non-medical consumption—particularly for low-income and elderly households—suggesting that financial constraints, rather than changing health preferences, drive these welfare losses even within a near-universal health insurance system.

Antoine Marsaudon, Damien Bricard, Renaud Legal, Paul Dourgnon2026-10-16

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