864 research outputs found
Current issues of the management of socio-economic systems in terms of globalization challenges
The authors of the scientific monograph have come to the conclusion that the management of socio-economic systems in the terms of global challenges requires the use of mechanisms to ensure security, optimise the use of resource potential, increase competitiveness, and provide state support to economic entities. Basic research focuses on assessment of economic entities in the terms of global challenges, analysis of the financial system, migration flows, logistics and product exports, territorial development. The research results have been implemented in the different decision-making models in the context of global challenges, strategic planning, financial and food security, education management, information technology and innovation. The results of the study can be used in the developing of directions, programmes and strategies for sustainable development of economic entities and regions, increasing the competitiveness of products and services, decision-making at the level of ministries and agencies that regulate the processes of managing socio-economic systems. The results can also be used by students and young scientists in the educational process and conducting scientific research on the management of socio-economic systems in the terms of global challenges
Towards a human-centric data economy
Spurred by widespread adoption of artificial intelligence and machine learning, “data” is becoming
a key production factor, comparable in importance to capital, land, or labour in an increasingly
digital economy. In spite of an ever-growing demand for third-party data in the B2B
market, firms are generally reluctant to share their information. This is due to the unique characteristics
of “data” as an economic good (a freely replicable, non-depletable asset holding a highly
combinatorial and context-specific value), which moves digital companies to hoard and protect
their “valuable” data assets, and to integrate across the whole value chain seeking to monopolise
the provision of innovative services built upon them. As a result, most of those valuable assets
still remain unexploited in corporate silos nowadays.
This situation is shaping the so-called data economy around a number of champions, and it is
hampering the benefits of a global data exchange on a large scale. Some analysts have estimated
the potential value of the data economy in US$2.5 trillion globally by 2025. Not surprisingly, unlocking
the value of data has become a central policy of the European Union, which also estimated
the size of the data economy in 827C billion for the EU27 in the same period. Within the scope of
the European Data Strategy, the European Commission is also steering relevant initiatives aimed
to identify relevant cross-industry use cases involving different verticals, and to enable sovereign
data exchanges to realise them.
Among individuals, the massive collection and exploitation of personal data by digital firms
in exchange of services, often with little or no consent, has raised a general concern about privacy
and data protection. Apart from spurring recent legislative developments in this direction,
this concern has raised some voices warning against the unsustainability of the existing digital
economics (few digital champions, potential negative impact on employment, growing inequality),
some of which propose that people are paid for their data in a sort of worldwide data labour
market as a potential solution to this dilemma [114, 115, 155].
From a technical perspective, we are far from having the required technology and algorithms
that will enable such a human-centric data economy. Even its scope is still blurry, and the question
about the value of data, at least, controversial. Research works from different disciplines have
studied the data value chain, different approaches to the value of data, how to price data assets,
and novel data marketplace designs. At the same time, complex legal and ethical issues with
respect to the data economy have risen around privacy, data protection, and ethical AI practices. In this dissertation, we start by exploring the data value chain and how entities trade data assets
over the Internet. We carry out what is, to the best of our understanding, the most thorough survey
of commercial data marketplaces. In this work, we have catalogued and characterised ten different
business models, including those of personal information management systems, companies born
in the wake of recent data protection regulations and aiming at empowering end users to take
control of their data. We have also identified the challenges faced by different types of entities,
and what kind of solutions and technology they are using to provide their services.
Then we present a first of its kind measurement study that sheds light on the prices of data
in the market using a novel methodology. We study how ten commercial data marketplaces categorise
and classify data assets, and which categories of data command higher prices. We also
develop classifiers for comparing data products across different marketplaces, and we study the
characteristics of the most valuable data assets and the features that specific vendors use to set
the price of their data products. Based on this information and adding data products offered by
other 33 data providers, we develop a regression analysis for revealing features that correlate with
prices of data products. As a result, we also implement the basic building blocks of a novel data
pricing tool capable of providing a hint of the market price of a new data product using as inputs
just its metadata. This tool would provide more transparency on the prices of data products in
the market, which will help in pricing data assets and in avoiding the inherent price fluctuation of
nascent markets.
Next we turn to topics related to data marketplace design. Particularly, we study how buyers
can select and purchase suitable data for their tasks without requiring a priori access to such
data in order to make a purchase decision, and how marketplaces can distribute payoffs for a
data transaction combining data of different sources among the corresponding providers, be they
individuals or firms. The difficulty of both problems is further exacerbated in a human-centric
data economy where buyers have to choose among data of thousands of individuals, and where
marketplaces have to distribute payoffs to thousands of people contributing personal data to a
specific transaction.
Regarding the selection process, we compare different purchase strategies depending on the
level of information available to data buyers at the time of making decisions. A first methodological
contribution of our work is proposing a data evaluation stage prior to datasets being selected
and purchased by buyers in a marketplace. We show that buyers can significantly improve the
performance of the purchasing process just by being provided with a measurement of the performance
of their models when trained by the marketplace with individual eligible datasets. We
design purchase strategies that exploit such functionality and we call the resulting algorithm Try
Before You Buy, and our work demonstrates over synthetic and real datasets that it can lead to
near-optimal data purchasing with only O(N) instead of the exponential execution time - O(2N)
- needed to calculate the optimal purchase. With regards to the payoff distribution problem, we focus on computing the relative value
of spatio-temporal datasets combined in marketplaces for predicting transportation demand and
travel time in metropolitan areas. Using large datasets of taxi rides from Chicago, Porto and
New York we show that the value of data is different for each individual, and cannot be approximated
by its volume. Our results reveal that even more complex approaches based on the
“leave-one-out” value, are inaccurate. Instead, more complex and acknowledged notions of value
from economics and game theory, such as the Shapley value, need to be employed if one wishes
to capture the complex effects of mixing different datasets on the accuracy of forecasting algorithms.
However, the Shapley value entails serious computational challenges. Its exact calculation
requires repetitively training and evaluating every combination of data sources and hence O(N!)
or O(2N) computational time, which is unfeasible for complex models or thousands of individuals.
Moreover, our work paves the way to new methods of measuring the value of spatio-temporal
data. We identify heuristics such as entropy or similarity to the average that show a significant
correlation with the Shapley value and therefore can be used to overcome the significant computational
challenges posed by Shapley approximation algorithms in this specific context.
We conclude with a number of open issues and propose further research directions that leverage
the contributions and findings of this dissertation. These include monitoring data transactions
to better measure data markets, and complementing market data with actual transaction prices
to build a more accurate data pricing tool. A human-centric data economy would also require
that the contributions of thousands of individuals to machine learning tasks are calculated daily.
For that to be feasible, we need to further optimise the efficiency of data purchasing and payoff
calculation processes in data marketplaces. In that direction, we also point to some alternatives
to repetitively training and evaluating a model to select data based on Try Before You Buy and
approximate the Shapley value. Finally, we discuss the challenges and potential technologies that
help with building a federation of standardised data marketplaces.
The data economy will develop fast in the upcoming years, and researchers from different
disciplines will work together to unlock the value of data and make the most out of it. Maybe
the proposal of getting paid for our data and our contribution to the data economy finally flies,
or maybe it is other proposals such as the robot tax that are finally used to balance the power
between individuals and tech firms in the digital economy. Still, we hope our work sheds light on
the value of data, and contributes to making the price of data more transparent and, eventually, to
moving towards a human-centric data economy.This work has been supported by IMDEA Networks InstitutePrograma de Doctorado en Ingeniería Telemática por la Universidad Carlos III de MadridPresidente: Georgios Smaragdakis.- Secretario: Ángel Cuevas Rumín.- Vocal: Pablo Rodríguez Rodrígue
Regulating competition in the digital network industry: A proposal for progressive ecosystem regulation
The digital sector is a cornerstone of the modern economy, and regulating digital enterprises can be considered the new frontier for regulators and competition authorities. To capture and address the competitive dynamics of digital markets we need to rethink our (competition) laws and regulatory strategies. The thesis develops new approaches to regulating digital markets by viewing them as part of a network industry. By combining insights from our experiences with existing regulation in telecommunications with insights from economics literature and management theory, the thesis concludes by proposing a new regulatory framework called ‘progressive ecosystem regulation’. The thesis is divided in three parts and has three key findings or contributions. The first part explains why digital platforms such as Google’s search engine, Meta’s social media platforms and Amazon’s Marketplace are prone to monopolization. Here, the thesis develops a theory of ‘digital natural monopoly’, which explains why competition in digital platform markets is likely to lead to concentration by its very nature.The second part of the thesis puts forward that competition in digital markets persists, even if there is monopoly in a market. Here, the thesis develops a conceptual framework for competition between digital ecosystems, which consists of group of actors and products. Digital enterprises compete to carve out a part of the digital network industry where they can exert control, and their strong position in a platform market can be used offensively or defensively to steer competition between ecosystems. The thesis then sets out four phases of ecosystem competition, which helps to explain when competition in the digital network industry is healthy and when it is likely to become problematic.The third and final part of the thesis brings together these findings and draws lessons from our experiences of regulating the network industry for telecommunications. Based on the insights developed in the thesis it puts forward a proposal for ‘progressive ecosystem regulation’. The purpose of this regulation is to protect and empower entrants from large digital ecosystems so that they can develop new products and innovate disruptively. This regulatory framework would create three regulatory pools: a heavily regulated, lightly regulated and entrant pool. The layered regulatory framework allows regulators to adjust who receives protection under the regulation and who faces the burdens relatively quickly, so that the regulatory framework reflects the fast pace of innovation and changing nature of digital markets. With this proposal, the thesis challenges and enriches our existing notions on regulation and specifically how we should regulate digital markets
Regulating competition in the digital network industry: A proposal for progressive ecosystem regulation
The digital sector is a cornerstone of the modern economy, and regulating digital enterprises can be considered the new frontier for regulators and competition authorities. To capture and address the competitive dynamics of digital markets we need to rethink our (competition) laws and regulatory strategies. The thesis develops new approaches to regulating digital markets by viewing them as part of a network industry. By combining insights from our experiences with existing regulation in telecommunications with insights from economics literature and management theory, the thesis concludes by proposing a new regulatory framework called ‘progressive ecosystem regulation’. The thesis is divided in three parts and has three key findings or contributions. The first part explains why digital platforms such as Google’s search engine, Meta’s social media platforms and Amazon’s Marketplace are prone to monopolization. Here, the thesis develops a theory of ‘digital natural monopoly’, which explains why competition in digital platform markets is likely to lead to concentration by its very nature.The second part of the thesis puts forward that competition in digital markets persists, even if there is monopoly in a market. Here, the thesis develops a conceptual framework for competition between digital ecosystems, which consists of group of actors and products. Digital enterprises compete to carve out a part of the digital network industry where they can exert control, and their strong position in a platform market can be used offensively or defensively to steer competition between ecosystems. The thesis then sets out four phases of ecosystem competition, which helps to explain when competition in the digital network industry is healthy and when it is likely to become problematic.The third and final part of the thesis brings together these findings and draws lessons from our experiences of regulating the network industry for telecommunications. Based on the insights developed in the thesis it puts forward a proposal for ‘progressive ecosystem regulation’. The purpose of this regulation is to protect and empower entrants from large digital ecosystems so that they can develop new products and innovate disruptively. This regulatory framework would create three regulatory pools: a heavily regulated, lightly regulated and entrant pool. The layered regulatory framework allows regulators to adjust who receives protection under the regulation and who faces the burdens relatively quickly, so that the regulatory framework reflects the fast pace of innovation and changing nature of digital markets. With this proposal, the thesis challenges and enriches our existing notions on regulation and specifically how we should regulate digital markets
Epistemic Planning for Heterogeneous Robotic Systems
In applications such as search and rescue or disaster relief, heterogeneous
multi-robot systems (MRS) can provide significant advantages for complex
objectives that require a suite of capabilities. However, within these
application spaces, communication is often unreliable, causing inefficiencies
or outright failures to arise in most MRS algorithms. Many researchers tackle
this problem by requiring all robots to either maintain communication using
proximity constraints or assuming that all robots will execute a predetermined
plan over long periods of disconnection. The latter method allows for higher
levels of efficiency in a MRS, but failures and environmental uncertainties can
have cascading effects across the system, especially when a mission objective
is complex or time-sensitive. To solve this, we propose an epistemic planning
framework that allows robots to reason about the system state, leverage
heterogeneous system makeups, and optimize information dissemination to
disconnected neighbors. Dynamic epistemic logic formalizes the propagation of
belief states, and epistemic task allocation and gossip is accomplished via a
mixed integer program using the belief states for utility predictions and
planning. The proposed framework is validated using simulations and experiments
with heterogeneous vehicles
Fundamentals of Business
Fundamentals of Business, fourth edition (2023) is an open education resource intended to serve as a no-cost, faculty-customizable primary text for one-semester undergraduate introductory business courses. It covers the following topics in business: Teamwork; economics; ethics; entrepreneurship; business ownership, management, and leadership; organizational structures and operations management; human resources and motivating employees; managing in labor union contexts; marketing and pricing strategy; hospitality and tourism, accounting and finance, personal finances, and technology in business
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