Fany Yuval (p)

Juhee Lee

Is it beneficial for municipalities to cooperate or compete with one another to attract visitors? The myopic rationality of game theory favors competition for short-term gains, whereas the non-myopic theory of moves suggests that cooperation in this regard might be more farsighted, consensual, inclusive, and sustainable. To understand why popular cities switched to cooperation when faced with the crisis of over-tourism, even though the players' preferences about the outcomes did not change, we analyzed the case study of Amsterdam. The results indicate that the theories are appropriate in different situations. Thus, the theory of moves’ rules - alternating choices, thinking ahead in making choices -- are more appropriate to finding a solution that would be stable in the future, not just one that is myopically stable in the present. We conclude that cooperation remains a more beneficial approach to managing tourism even in periods of under-tourism. Policy directions are provided.

Juhee Lee (p), Ilwon Seo

Edurne Zubiria-Ferriols

Waste is a cause of resource depletion and economic loss. As a large amount of waste is disposed of through landfills and incineration rather than recycling, it results in environmental pollution.
Most countries still fail to decouple population and economic growth from total waste generation(OECD, 2024). In 2022, a person living in the OECD generated about 531 kg of municipal waste, which means 12 kg less than in 2000, but 34 kg more than in 1990(OECD, 2024). According to the United Nation’s International Resource Panel, natural resource extraction and processing contribute to about half of all global greenhouse gas emissions.
As the demand for future resources is expected to continue to increase, circular economy (CE) has been seen as an alternative to linear economy, which extends the use of materials and products as long as possible and reduces the use of natural resources(Ellen MacArthur Foundation, 2016).
37 OECD member countries are among the 196 countries that have agreed to the Paris Agreement, a legally binding international treaty on climate change. (UNFCCC, 1996).
The importance of maximizing the use of material resources has been emphasized to cope with resource depletion and environmental pollution. One study found that recycling waste could reduce greenhouse gas emissions(An, T.H. et al., 2025). Another study found that providing financial incentives for recycling waste could positively motivate recycling behavior(Thøgersen J et al., 2003). Yet, the dark side of the incineration of material resources and its results of the environmental and economic disadvantages has been received little attention. To fill the existing research gaps, this study poses fundamental questions as follows:
• What is the dark side of material resource management?
•How much does incineration of non-recycled materials contribute to increased greenhouse gas emissions?
•Does material recycling can enhance economic and environmental benefits and contribute to a circular economy?
The purpose of this study is to estimate the economic benefits of material recycling by distinguishing two prices, material and environmental in OECD countries and empirically analyzing them using quantitative data.
Total price = Material price + Environmental price (1)
Material price = Raw material price − Recycled material price (2)
Environmental price = Greenhouse gases emission × Carbon price (3)

Edurne Zubiria-Ferriols (p), Teresa Martínez Fernández, Luis Cuni Monserrat

Federico Ninivaggi

The increasing frequency and intensity of extreme weather events have underscored the urgent need for climate resilience strategies in urban environments. Cities and towns need to establish a response mechanism aimed to fostering sustainable recovery and long-term adaptation in municipalities severely affected by climate-related disasters. This work aims to analyse the Innovation Programme for Climate Resilience fostered by a Spanish city network (Innpulso Network) and highlight its potential as a model for future resilience initiatives.

Extreme weather events has caused in the Valencia Region severe damage to critical infrastructure, housing, and livelihoods, presenting significant challenges for reconstruction and climate adaptation. Traditional recovery efforts often focus solely on restoring lost assets; however, the Innpulso Network Program adopts a transformative recovery approach. By prioritizing both mitigation and adaptation, the initiative seeks to build resilient and climate-neutral municipalities. Given the inevitability of future climate events, the program leverages science and innovation as key drivers for sustainable urban development.

By analysing the Innovation Programme for Climate Resilience we can see it is structured around a bottom-up approach, ensuring that the needs of affected cities and towns are at the core of the recovery strategy. The methodology includes: participatory diagnosis, science-based policy development, innovation transfer and experimentation, pilot projects and case studies, and scalability and governance models.

Focusing on the results and key findings, the program has yielded significant advancements in climate resilience and innovation-driven policy implementation, including: enhanced municipal capacities, integration of climate neutral policies, implementation of nature-based solutions, knowledge transfer and collaboration and a scalable framework for resilient urban development.

The Spanish Innpulso Network serves as a crucial vehicle for local innovation and knowledge transfer, bridging the gap between scientific research and local governance. By transforming affected municipalities into benchmarks of sustainability and resilience, this initiative provides a scalable model for broader regional and national climate adaptation efforts. The program’s integrated approach—grounded in science, participatory governance, and technological innovation—demonstrates the potential of collaborative networks in fostering urban resilience against future climate challenges.

Spreading this experience and programme not only provides role models, but also offers a valuable opportunity to reuse the experience and knowledge generated. Regions that have achieved positive results can serve as benchmarks and guide other municipalities in implementing similar policies and strategies. Therefore, sharing and disseminating these experience is essential to promote a more efficient resilient development adapted to the particular needs of each territory.

Federico Ninivaggi (p), Eleonora Cutrini

Damiaan Persyn

Riding the Pandemic Storm: How Endogenous Resources and Local Ecosystems Shaped “Pandemic Winners” in Italian Manufacturing

Federico Ninivaggi, f.ninivaggi@unimc.it, Department of Economics and Law, University of Macerata, Italy
Eleonora Cutrini, eleonora.cutrini@unimc.it, Department of Economics and Law, University of Macerata, Italy
Keywords: Firm Resilience, COVID-19, Italy

Abstract
The paper investigates the firm level factors that influenced Italian manufacturing companies’ ability to cope with the COVID 19 crisis, focusing on the likelihood of becoming a “pandemic winner” in terms of employment and sales post crisis performance. The study looks at how endogenous resources and exogenous contextual factors worked to build resilience and recovery trajectories using extensive firm level data and probit regression analyses.
From an internal features standpoint, results indicate that swimming upstream firms (SUFs) have greater financial soundness, and a robust digital presence. These results support earlier research (Arrighetti et al., 2021) that suggests proactive innovation tactics and resource endowment can lessen the cleaning impacts of severe recessions. Regarding exogenous factors, estimates indicate that local ecosystem features significantly impact the chances of became a “winner” firm. The likelihood of successfully navigating the crisis is increased by working in a technologically advanced field and utilizing external connections (such as joining business groups or network contracts). This supports recent research (Cutrini & Ninivaggi, 2024) that relate supportive settings and cooperative arrangements to increased company resilience.
Overall, the study contributes to the literature on crisis driven restructuring, by emphasizing the interplay between firm specific resources (size, financial stability, productivity) and local context (district specialization, and firm networks) in determining which manufacturers emerge as top performers during a severe economic shock as COVID-19 pandemics.

References
Arrighetti, A., Landini, F., & Lasagni, A. (2021). Swimming upstream throughout the turmoil: Evidence on firm growth during the great recession. Scottish Journal of Political Economy, 68(3), 322-344.
Cutrini, E., Ninivaggi, F. Pandemic crisis and firm survival: evidence from the Italian manufacturing industry. J. Ind. Bus. Econ. 51, 265–297 (2024). https://doi.org/10.1007/s40812-024-00309-0

Damiaan Persyn (p)

Fany Yuval

This paper considers how a shock to a specific region and industry propagates both via the supply chain and through space, to neighbouring (or more remote) regions and sectors. We compare the results from different models that have been used for this purpose: traditional input-output analysis (using detailed region-level input-output tables), basic "structural gravity" models with minimalistic general-equilibrium mechanisms, and more novel spatial quantitative models. We highlight the role of assumptions on labour mobility in determining the resilience of regions and sectors in presence of shocks.