Value proposition as a framework for value co-creation in crowd-funding ecosystem

The present paper suggests that crowd-funding in the arts and cultural sector occurs within a complex service ecosystem, where six categories of value propositions frame eight value co-creation processes, namely through ideation, evaluation, design, testing, launch, financing and authorship. Managerial contributions include the development of a crowd-funding service ecosystem model for arts managers, which offers not only a method of financing or economic value, but which also offers opportunities for strengthening bonds with customers and other stakeholders. Our paper is innovative in that we integrate value propositions categories with the micro – meso and macro contexts and analyse the different kind of co-creation are framed in the crowdfunding contextUniversidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Estimation methods for stochastic volatility models: a survey

The empirical application of Stochastic Volatility (SV) models has been limited due to the difficulties involved in the evaluation of the likelihood function. However, recently there has been fundamental progress in this area due to the proposal of several new estimation methods that try to overcome this problem, being at the same time, empirically feasible. As a consequence, several extensions of the SV models have been proposed and their empirical implementation is increasing. In this paper, we review the main estimators of the parameters and the volatility of univariate SV models proposed in the literature. We describe the main advantages and limitations of each of the methods both from the theoretical and empirical point of view. We complete the survey with an application of the most important procedures to the S and P 500 stock price index

Sustainable car life cycle design, taking inspiration from natural systems and thermodynamics

This paper exposes the search for a tool and method, which from a systems approach, adopts the rules and logic that govern our physical context (biosphere) in order to provide guidelines that the car industry could use to achieve an ideal state for ecological, economical and social sustainability

Towards Prediction of Financial Crashes with a D-Wave Quantum Computer

Prediction of financial crashes in a complex financial network is known to be an NP-hard problem, i.e., a problem which cannot be solved efficiently with a classical computer. We experimentally explore a novel approach to this problem by using a D-Wave quantum computer to obtain financial equilibrium more efficiently. To be specific, the equilibrium condition of a nonlinear financial model is embedded into a higher-order unconstrained binary optimization (HUBO) problem, which is then transformed to a spin-$1/2$ Hamiltonian with at most two-qubit interactions. The problem is thus equivalent to finding the ground state of an interacting spin Hamiltonian, which can be approximated with a quantum annealer. Our experiment paves the way to study quantitative macroeconomics, enlarging the number of problems that can be handled by current quantum computers

Development planning versus participation of inhabitants in management

Purpose: There is an emphasis that planning sustainable development is conditioned by external and internal factors. The basis for such planning is a range of an area research which can distinguish the groups of similar units and quantify their stages of development. The aim of the article is to present the author’s methodological proposal in the field of management and development planning, taking the opinions of the commune inhabitants. Design/Methodology/Approach: The paper presents the application of changes in planning the sustainable development, in the context of a stable economy. In present conditions, there is a lack of problem identification, especially social and economic. The proposed procedure of methodology on the basis of inhabitants’ opinions of the communes of Swietokrzyskie Voivodeship situated in protected areas, such as landscape parks and regions of protected landscape is an element of a wider research problem. At present this problem has and is going to have a more significant meaning, the participation of local communities in creating their own development. Findings: The problem has already had and will continue to have a growing importance, because it will no longer be possible to prevent the participation of local societies in creating their own development. Practical Implications: The realisation of sustainable development will require a total change of the orientation of all the parties interested, according to the social and economic problems (basic principles). Originality/Value: In the majority of the recommended planning procedures, there is a possibility of economy improvement and contribution to the improvement of social and economic welfare.peer-reviewe