Catastrophes, like earthquakes, bring sudden and severe damage, causing fatalities, injuries, and property loss. This often triggers a rapid increase in insurance claims. These claims can encompass various types, such as life insurance claims for deaths, health insurance claims for injuries, and general insurance claims for property damage. For insurers offering multiple types of coverage, this surge in claims can pose a risk of financial losses or bankruptcy. One option for insurers is to transfer some of these risks to reinsurance companies. Reinsurance companies will assess the potential losses due to a catastrophe event, then issue catastrophe reinsurance contracts to insurance companies. This study aims to construct a valuation model for catastrophe reinsurance contracts that can cover claim losses arising from two types of insurance products. Valuation in this study is done using the Fundamental Theorem of Asset Pricing, which is the expected present value of the number of claims that occur during the reinsurance coverage period. The number of catastrophe events during the reinsurance coverage period is assumed to follow a Poisson process. Each impact of a catastrophe event, such as the number of fatalities and injuries that cause claims, is represented as random variables, and modeled using Peaks Over Threshold (POT). This study uses Clayton, Gumbel, and Frank copulas to describe various dependence characteristics between random variables. The parameters of the POT model and copula are estimated using Inference Functions for Margins method. After estimating the model parameters, Monte Carlo simulations are performed to obtain numerical solutions for the expected value of catastrophe reinsurance based on the Fundamental Theorem of Asset Pricing. The expected reinsurance value based on Monte Carlo simulations using Indonesian earthquake data from 1979–2021 is Rp 10,296,819,838.

Tangerang City is characterized by its dense residential, commercial, and industrial activities and strategic proximity to Jakarta. This study aims to evaluate the strategic planning and implementation of innovative city initiatives in Tangerang, Indonesia, focusing on integrating blockchain, Internet of Things (IoT) big data technologies and innovation in urban development. This study has employed explanatory survey data from a structured questionnaire distributed to a diverse Tangerang community sample, including users and non-users of the “Smart City Tangerang Live” application. The survey was conducted for 2-months March to April 2022, included 71 and the sample included individuals across 13 districts, utilizing cluster sampling to ensure representativeness. The findings reveal a positive community response towards the smart city initiatives, with significant Engagement and interaction with the “Tangerang Live” application. However, technology access and usage disparities among different community segments were noted. The study highlights the critical role of intelligent technologies in transforming urban infrastructure and services, improving the quality of life, and fostering sustainable urban development in Tangerang. The implications of this study are multifaceted. For urban planners and policymakers, the results underscore the importance of strategic planning in innovative city development, emphasizing the need for inclusive and accessible technological solutions. The study also suggests potential areas for improvement in community engagement and public awareness campaigns to promote the adoption and efficient use of smart technologies.

African air transport is expected to take off after the Single African Air Transport Market (SAATM) launch in January 2018. Unfortunately, this seems not to be the case, particularly in West Africa, where adequate direct local flight is highly difficult to find. Hence, the fundamental question is: what levers should be activated for an effective revival of this sector? This paper aims to analyze West African air transport competitiveness factors by collecting data physically through surveys in various West African airports (Abidjan, Cotonou, Accra, Lome) also by interviewing professionals in the sector (Air traffic controllers, Air Navigation Service Providers, Air transports Managers, etc.) and among others, SAATM reports to appreciate its implementation. We were able to survey 435 actors (individuals and key informants) from January to July 2023 to evaluate quality of service, airline performance, safety, customer satisfaction etc. Airline operating costs were analyzed to understand the associated bottlenecks. The results show that SAATM is not yet well implemented in all contracting states, travelers are not satisfied with the air supply (airlines, infrastructure and fares) and taxation excessively increases ticket prices. The main factors for West African air transport take-off are liberalization, taxation and infrastructure investments.

The coastal area of Bohai Bay of China has a wide distribution of salt-accumulated soils which could pose a problem to the sustainable development of the local ecology. As a result, the land remains largely degraded and unsuitable for biophysical and agricultural purposes. In this study, we characterized the soil and native plants in the area, to properly understand and identify species with satisfactory adaptation to saline soil and of high economic or ecological value that could be further developed or domesticated, using appropriate cultivation techniques. The goal was to determine the salinity parameters of the soil, identify the inhabiting plant species and contribute to the ecosystem data base for the Bay area. A field survey involving soil and plant sampling and analyses was conducted in Yanshan and Haixing Counties of Hebei Province, China, to estimate the level of salt ions as well as plant species population and type. The mean electrical conductivity (EC) of the soils ranged from 0.47 in more remote locations to 23.8 ds/m in locations closer to the coastline and the total salt ions from 0.05 to 8.8 g/kg, respectively. Each of the salinity parameters, except HCO₃⁻ showed wide variations as judged from the coefficient of variation (CV) values. The EC, as well as chloride, sulphate, Mg and Na ions increased significantly towards the coastline but the HCO₃⁻ ion showed a relatively even distribution across sampling points. Sodium was the most abundant cation and chloride and sulphate the most abundant anions. Therefore, the most dominant salinity-inducing salt that should be properly managed for sustainable ecosystem health was sodium chloride. Based on the EC readings, the most remote location from the coastline was non-saline but otherwise, the salinity ranged from slightly to strongly-very strongly saline towards the coast. There were considerably wide variations in the number and distribution of plant species across sampling locations, but most were dominated entirely Phragmites australis, Setaria viridis and Sueda salsa. Other species identified were Aeluropus littoralis, Chloris virgata, Heteropappus altaicus, Imperata cylindrica, Puccinellia distans, Puccinellia tenuiflora and Scorzonera austriaca. On average, the sampling points furthest from the coast produced the most biomass, and the point with the highest elevation had the most diverse species composition. Among species, Digitaria sanguinalis produced the highest dry mass, followed by Lolium perenne and H. altaicus, but there were considerable variations in biomass yield across sampling locations, with the location nearest the coastline having no vegetation. The observed variations in soil and vegetation should be strongly considered by planners to allow for the sustainable development of the Bahai bay area.

Financial literacy is an essential life skill today and plays a crucial role in business success. This study examined the relationship between college students’ financial literacy, financial management behavior, and entrepreneurial opportunity recognition. A survey was conducted among college students in the Busan and Gyeongnam regions, and a total of 272 responses were analyzed using SPSS 28.0. The results showed that financial literacy partially positively affects financial management behavior. Furthermore, financial management behavior positively influences entrepreneurial opportunity recognition. Financial management behavior partially mediates the relationship between financial literacy and entrepreneurial opportunity recognition. Improving the financial literacy of college students during adolescence serves as a motivation for entrepreneurship and significantly impacts their exploration and practice of various income activities to achieve their expected future living standards. The study’s findings indicate that for potential entrepreneurs, recognizing and promoting entrepreneurship as a source of innovation and growth requires incorporating financial literacy and desirable financial management behavior education into university curricula.

This paper explores how compassion can be defined as a transformative moral technology through analysis of Martha Nussbaum’s idea. Nussbaum contends that compassion goes beyond just feeling pain for others’ suffering; it also involves acknowledging the severity of suffering, understanding that it is not solely the victim’s fault, and recognizing the suffering individual as one of our most important goals and projects. Through a literature review that considers reductive explanations, we establish that compassion encompasses cognitive, affective, and conative capacities that are crucial for moral reasoning, knowledge, and judgment, all stemming from the experience of human suffering. These capacities of cognition, affection, and conation are supported by the system of reasoning and moral perspective known as techne, episteme, and oikeiosis as systems of reasoning and morality perspective. We argue that compassion is more than just an emotion or feeling, it is catalyst for moral action, as its essence lies in “suffering with; suffering together.”