Journal of Resilient Economies (ISSN: 2653-1917)

Editorial: Decolonising Resilience

Taha Chaiechi — Sat, 27 Sep 2025 00:00:00 +1000

This editorial situates the contributions of this issue of the Journal of Resilient Economies within a decolonial framing of resilience. The featured papers explore resilience across multiple scales: regional coordination of ecological and economic systems in the Yangtze River Economic Belt (Wang et al., 2025), behavioural finance under ambiguity and framing effects (Kiky, 2025), and cultural economies expressed through nightlife motivations in Yogyakarta (Anggraini et al., 2025). Although diverse in focus, each paper highlights a common challenge: the persistence of extractive, uniform, and short-term economic logics that undermine sustainable futures. Building on earlier editorials that positioned resilience as partnership, transformative adaptation, and empowerment across frontiers (Chaiechi, 2021; 2022; 2023), this editorial argues that resilience must also be understood as a decolonial project. Moving away from colonial legacies of exploitation and Eurocentric standards of rationality, resilience requires embracing plural knowledges, ecological interdependence, and cultural specificity. The studies in this issue demonstrate how resilience emerges not only through technical models and policy interventions but also through human motivations, cultural practices, and community agency. By reimagining resilience as decolonial, this issue contributes to broader conversations on designing economic systems that are robust, adaptive, inclusive, and sustainable.

Ellsberg Paradox and Disposition Effect

Andreas Kiky — Sat, 27 Sep 2025 00:00:00 +1000

The Ellsberg paradox can help us understand how ambiguity can induce asset liquidation, which is reflected by gain or loss realization in the disposition effect. This study investigates the impact of ambiguity (as the Ellsberg Paradox describes) and framing effects on the disposition effect in asset liquidation decisions. By integrating prospect theory with behavioral finance principles, the research seeks to understand how ambiguity connected with emotional biases influences investors' likelihood to liquidate assets under varying conditions of risk and uncertainty. The study uses logistic regression models to analyze data collected from a disposition effect simulation, examining their asset liquidation behaviors concerning the ambiguity and framing effects. The research incorporates subjective targets and tolerances to provide a nuanced understanding of the rationality of asset liquidation decisions in the gain and loss domain. The results indicate that higher ambiguity is associated with a lower probability of asset liquidation, particularly for gains, which aligns with the predictions of the Ellsberg Paradox. The study also finds that the framing effect serves as a quasi-moderator, enhancing investors' decision-making by aligning their actions with personal targets and tolerances. These findings confirm the presence of the disposition effect, with investors more likely to realize gains than losses, but this behavior is moderated by ambiguity and framing considerations. The study offers valuable insights for financial advisors, portfolio managers, and policymakers by highlighting the importance of managing ambiguity and framing in investment strategies. It suggests using decision aids and educational interventions to help investors make more rational decisions, thereby mitigating the negative impacts of behavioral biases. This paper uses logistic regression to unveil the interaction between asset liquidation, ambiguity, and the framing effect in investment decisions. Separate models explain gain and loss realization to understand better how ambiguity differs in winning and losing assets. Furthermore, the additional context of target and tolerance is added to the models, which can prove not all gain realization is irrational based on the bounded rationality of the decision-makers.

Nightlife Experiences in Yogyakarta: Motivations and Lifestyles of Nightclub Visitors

Fera Dhian Anggraini, John Joi Ihalauw, Tonny Hendratono, Sugiarto — Sat, 27 Sep 2025 00:00:00 +1000

Nightlife has become an essential element of urban tourism in Yogyakarta. This study aims to evaluate the motivations and lifestyles of nightclub visitors by examining nightlife tourism through visitor experiences. A qualitative method was employed, utilizing in-depth interviews and participatory observations to explore motivations, lifestyles, and experiences of nightclub visitors. The sampling technique used was non-probability sampling with a purposive approach, involving 25 active visitors who had attended nightclubs. Data analysis was conducted by identifying key themes from interview transcripts and observation notes, covering motivation, lifestyle, and visitor experiences.

The findings reveal that the primary motivations driving visitors to nightclubs include interest in events, entertainment, and relaxation. Findings related to lifestyles highlight self-validation and hedonism. The study also identifies emotional involvement and lasting impressions as key aspects of visitor experiences. These insights are valuable for the development of nightlife tourism and nightclub management to enhance visitor satisfaction through memorable experiences. Additionally, this study contributes to the growing body of literature on nightlife tourism, particularly within Yogyakarta’s nightclub scene.

How to Coordinate Regional Economic and Ecological Resilience

Yifan Wang, Zihui Han, Bing Wang — Sat, 27 Sep 2025 00:00:00 +1000

This study focuses on the coordination between regional economic and ecological resilience in developing countries, constructing an integrated research framework of "resilience assessment–coupling coordination measurement–influencing factor ranking–policy simulation." Using the Yangtze River Economic Belt as a typical case, this research conducts a multidimensional quantitative evaluation of economic and ecological resilience within the region. The findings reveal a common contradiction: regions with weak economic foundations generally exhibit economic resilience lagging behind ecological resilience. By employing a coupling coordination model, this study quantitatively characterizes the synergy between economic and ecological systems and identifies key driving factors for regional coordination through grey relational analysis. Furthermore, system dynamics-based policy simulation results indicate that precise and targeted economic policies significantly enhance regional coupling coordination in the long term, providing theoretical evidence to address the "pollution first, treatment later" dilemma. These findings offer a novel theoretical perspective and practical pathway for developing countries to establish green and sustainable regional development models.