Information Markets and Nonmarkets

As large amounts of data become available and can be communicated more easily and processed more e¤ectively, information has come to play a central role for economic activity and welfare in our age. This essay overviews contributions to the industrial organization of information markets and nonmarkets, while attempting to maintain a balance between foundational frameworks and more recent developments. We start by reviewing mechanism-design approaches to modeling the trade of information. We then cover ratings, predictions, and recommender systems. We turn to forecasting contests, prediction markets, and other institutions designed for collecting and aggregating information from decentralized participants. Finally, we discuss science as a prototypical information nonmarket with participants who interact in a non-anonymous way to produce and disseminate information. We aim to make the reader familiar with the central notions and insights in this burgeoning literature and also point to some open critical questions that future research will have to address

Non-Extensive Entropy Econometrics for Low Frequency Series

The second edition of Non-extensive Entropy Econometrics for Low Frequency Series provides a new and robust power-law-based, non-extensive entropy econometrics approach to the economic modelling of ill-behaved inverse problems. Particular attention is paid to national account-based general equilibrium models known for their relative complexity. This new proposed approach could extend the frontier of theoretical and applied econometrics

Non-Extensive Entropy Econometrics for Low Frequency Series

The second edition of Non-extensive Entropy Econometrics for Low Frequency Series provides a new and robust power-law-based, non-extensive entropy econometrics approach to the economic modelling of ill-behaved inverse problems. Particular attention is paid to national account-based general equilibrium models known for their relative complexity. This new proposed approach could extend the frontier of theoretical and applied econometrics

New Challenges in Neutrosophic Theory and Applications

Neutrosophic theory has representatives on all continents and, therefore, it can be said to be a universal theory. On the other hand, according to the three volumes of “The Encyclopedia of Neutrosophic Researchers” (2016, 2018, 2019), plus numerous others not yet included in Encyclopedia book series, about 1200 researchers from 73 countries have applied both the neutrosophic theory and method. Neutrosophic theory was founded by Professor Florentin Smarandache in 1998; it constitutes further generalization of fuzzy and intuitionistic fuzzy theories. The key distinction between the neutrosophic set/logic and other types of sets/logics lies in the introduction of the degree of indeterminacy/neutrality (I) as an independent component in the neutrosophic set. Thus, neutrosophic theory involves the degree of membership-truth (T), the degree of indeterminacy (I), and the degree of non-membership-falsehood (F). In recent years, the field of neutrosophic set, logic, measure, probability and statistics, precalculus and calculus, etc., and their applications in multiple fields have been extended and applied in various fields, such as communication, management, and information technology. We believe that this book serves as useful guidance for learning about the current progress in neutrosophic theories. In total, 22 studies have been presented and reflect the call of the thematic vision. The contents of each study included in the volume are briefly described as follows. The first contribution, authored by Wadei Al-Omeri and Saeid Jafari, addresses the concept of generalized neutrosophic pre-closed sets and generalized neutrosophic pre-open sets in neutrosophic topological spaces. In the article “Design of Fuzzy Sampling Plan Using the Birnbaum-Saunders Distribution”, the authors Muhammad Zahir Khan, Muhammad Farid Khan, Muhammad Aslam, and Abdur Razzaque Mughal discuss the use of probability distribution function of Birnbaum–Saunders distribution as a proportion of defective items and the acceptance probability in a fuzzy environment. Further, the authors Derya Bakbak, Vakkas Uluc¸ay, and Memet S¸ahin present the “Neutrosophic Soft Expert Multiset and Their Application to Multiple Criteria Decision Making” together with several operations defined for them and their important algebraic properties. In “Neutrosophic Multigroups and Applications”, Vakkas Uluc¸ay and Memet S¸ahin propose an algebraic structure on neutrosophic multisets called neutrosophic multigroups, deriving their basic properties and giving some applications to group theory. Changxing Fan, Jun Ye, Sheng Feng, En Fan, and Keli Hu introduce the “Multi-Criteria Decision-Making Method Using Heronian Mean Operators under a Bipolar Neutrosophic Environment” and test the effectiveness of their new methods. Another decision-making study upon an everyday life issue which empowered us to organize the key objective of the industry developing is given in “Neutrosophic Cubic Einstein Hybrid Geometric Aggregation Operators with Application in Prioritization Using Multiple Attribute Decision-Making Method” written by Khaleed Alhazaymeh, Muhammad Gulistan, Majid Khan, and Seifedine Kadry

The inner and inter construct associations of the quality of data warehouse customer relationship data for problem enactment

This thesis was submitted for the degree of Doctor of Business Administration and awarded by Brunel University on behalf of Henley Management College.The literature identifies perceptions of data quality as a key factor influencing a wide range of attitudes and behaviors related to data in organizational settings (e.g. decision confidence). In particular, there is an overwhelming consensus that effective customer relationship management, CRM, depends on the quality of customer data. Data warehouses, if properly implemented, enable data integration which is a key attribute of data quality. The literature highlights the relevance of formulating problem statements because this will determine the course of action. CRM managers formulate problem statements through a cognitive process known as enactment. The literature on data quality is very fragmented. It posits that this construct is of a high order nature (it is dimensional), it is contextual and situational, and it is closely linked to a utilitarian value. This study addresses all these disperse views of the nature of data quality from a holistic perspective. Social cognitive theory, SCT, is the backbone for studying data quality in terms of information search behavior and enhancements in formulating problem statements. The main objective of this study is to explore the nature of a data warehouse's customer relationship data quality in situations where there is a need for understanding a customer relationship problem. The research question is What are the inner and inter construct associations of the quality of data warehouse customer relationship data for problem enactment? To reach this objective, a positivistic approach was adopted complemented with qualitative interventions along the research process. Observations were gathered with a survey. Scales were adjusted using a construct-based approach. Research findings confirm that data quality is a high order construct with a contextual dimension and a situational dimension. Problem sense making enhancements is a dependent variable of data quality in a confirmed positive association between both constructs. Problem sense making enhancements is also a high order construct with a mastering experience dimension and a self-efficacy dimension. Behavioral patterns for information search mode (scanning mode orientation vs. focus mode orientation) and for information search heuristic (template heuristic orientation vs. trial-and-error heuristic orientation) have been identified. Focus is the predominant information search mode orientation and template is the predominant information search heuristic orientation. Overall, the research findings support the associations advocated by SCT. The self-efficacy dimension in problem sense making enhancements is a discriminant for information search mode orientation (focus mode orientation vs. scanning mode orientation). The contextual dimension in data quality (i.e. data task utility) is a discriminant for information search heuristic (template heuristic orientation vs. trial-and-error heuristic orientation). A data quality cognitive metamodel and a data quality for problem enactment model are suggested for research in the areas of data quality, information search behavior, and cognitive enhancements. iiiTeradata, NC

An Interdisciplinary Re-Perspectivation of the Study of Heuristics, Biases, and Nudges

The following text starts with an assumption that current psychological research is primarily quantitative in nature and-despite its great contributions-misses out on the potentials lying in an interdisciplinary and thereby multi-methodological approach. To highlight these potentials, this text does three things: Primarily, it looks at the study of heuristics and biases, a much debated and researched field, to illustrate the pitfalls awaiting in a one-sided approach as the study of heuristics and biases has been mostly motivated by the inadequacies of the prior paradigm. Secondly, this text presents scholars from outside of mainstream thinking that have also discussed decision-making and-although in a more abstract form-and arrived at similar results. This, in result, highlights the potential of a historically minded interdisciplinary approach towards decision-making. Lastly, these insights are brought forward as valuable future research objects by further contextualizing them with current problems in decision-making science, these problems stem from the field of legal decision-making. The text overall raises awareness for alternative and interdisciplinary approaches towards psychological research questions