2,250 research outputs found

    Economic Performance, Inter-Firm Relations and Local Institutional Engineering in a Computational Prototype of Industrial Districts

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    Industrial districts can be conceived as complex systems characterised by a network of interactions amongst heterogeneous, localised, functionally, integrated and complementary firms. In a previous paper, we have introduced an industrial district computational prototype, showing that the economic performance of an industrial district proceeds to the form through which firms interact and co-ordinate each others. In this paper, we use such computational framework to experiment different options of local institutional engineering', trying to understand how specific supporting institutions' could perform macro-collective activities, such as, i.e., technology research, transfer and information, improving the technological adaptation of firms. Is a district more than a simple aggregation of localised firms? What can explain the economic performance of firms localised into the same space? Could some options of 'local institutional engineering, improve the performance of a district? Could such options set aside the problem of how firms dynamically interact? These are questions explored in this paper

    Capability-based governance patterns over the product life-cycle

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    We investigate patterns of vertical governance over the product life-cycle as function of the capability regime properties imitability and substitutability. We use a novel neo-Schumpeterian model to study emerging governance patterns. We find that, in the era of incremental change, firms prefer vertical specialization. In the era of ferment, no governance form dominates. Imitability and substitutability, in interplay, determine the governance form preferred. High imitability frustrates appropriation and thereby integration for synergistic advantages. However, firms need not vertically specialize: under low substitutability, incompatibilities reduce the advantages of specialization. When both substitutability and imitability are low, firms can appropriate the value of their inventions and there is no combinatorial advantage of specialization, so firms predominantly integrate. If substitutability is high and imitability is low, the combinatorial advantage of specialization balances with the synergistic advantage of integration

    Clustered marginalization of minorities during social transitions induced by co-evolution of behaviour and network structure

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    Large-scale transitions in societies are associated with both individual behavioural change and restructuring of the social network. These two factors have often been considered independently, yet recent advances in social network research challenge this view. Here we show that common features of societal marginalization and clustering emerge naturally during transitions in a co-evolutionary adaptive network model. This is achieved by explicitly considering the interplay between individual interaction and a dynamic network structure in behavioural selection. We exemplify this mechanism by simulating how smoking behaviour and the network structure get reconfigured by changing social norms. Our results are consistent with empirical findings: The prevalence of smoking was reduced, remaining smokers were preferentially connected among each other and formed increasingly marginalised clusters. We propose that self-amplifying feedbacks between individual behaviour and dynamic restructuring of the network are main drivers of the transition. This generative mechanism for co-evolution of individual behaviour and social network structure may apply to a wide range of examples beyond smoking.Comment: 16 pages, 5 figure

    Management, Technology and Learning for Individuals, Organisations and Society in Turbulent Environments

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    This book presents the collection of fifty papers which were presented in the Second International Conference on BUSINESS SUSTAINABILITY 2011 - Management, Technology and Learning for Individuals, Organisations and Society in Turbulent Environments , held in Póvoa de Varzim, Portugal, from 22ndto 24thof June, 2011.The main motive of the meeting was growing awareness of the importance of the sustainability issue. This importance had emerged from the growing uncertainty of the market behaviour that leads to the characterization of the market, i.e. environment, as turbulent. Actually, the characterization of the environment as uncertain and turbulent reflects the fact that the traditional technocratic and/or socio-technical approaches cannot effectively and efficiently lead with the present situation. In other words, the rise of the sustainability issue means the quest for new instruments to deal with uncertainty and/or turbulence. The sustainability issue has a complex nature and solutions are sought in a wide range of domains and instruments to achieve and manage it. The domains range from environmental sustainability (referring to natural environment) through organisational and business sustainability towards social sustainability. Concerning the instruments for sustainability, they range from traditional engineering and management methodologies towards “soft” instruments such as knowledge, learning, and creativity. The papers in this book address virtually whole sustainability problems space in a greater or lesser extent. However, although the uncertainty and/or turbulence, or in other words the dynamic properties, come from coupling of management, technology, learning, individuals, organisations and society, meaning that everything is at the same time effect and cause, we wanted to put the emphasis on business with the intention to address primarily companies and their businesses. Due to this reason, the main title of the book is “Business Sustainability 2.0” but with the approach of coupling Management, Technology and Learning for individuals, organisations and society in Turbulent Environments. Also, the notation“2.0” is to promote the publication as a step further from our previous publication – “Business Sustainability I” – as would be for a new version of software. Concerning the Second International Conference on BUSINESS SUSTAINABILITY, its particularity was that it had served primarily as a learning environment in which the papers published in this book were the ground for further individual and collective growth in understanding and perception of sustainability and capacity for building new instruments for business sustainability. In that respect, the methodology of the conference work was basically dialogical, meaning promoting dialog on the papers, but also including formal paper presentations. In this way, the conference presented a rich space for satisfying different authors’ and participants’ needs. Additionally, promoting the widest and global learning environment and participation, in accordance with the Conference's assumed mission to promote Proactive Generative Collaborative Learning, the Conference Organisation shares/puts open to the community the papers presented in this book, as well as the papers presented on the previous Conference(s). These papers can be accessed from the conference webpage (http://labve.dps.uminho.pt/bs11). In these terms, this book could also be understood as a complementary instrument to the Conference authors’ and participants’, but also to the wider readerships’ interested in the sustainability issues. The book brought together 107 authors from 11 countries, namely from Australia, Belgium, Brazil, Canada, France, Germany, Italy, Portugal, Serbia, Switzerland, and United States of America. The authors “ranged” from senior and renowned scientists to young researchers providing a rich and learning environment. At the end, the editors hope, and would like, that this book to be useful, meeting the expectation of the authors and wider readership and serving for enhancing the individual and collective learning, and to incentive further scientific development and creation of new papers. Also, the editors would use this opportunity to announce the intention to continue with new editions of the conference and subsequent editions of accompanying books on the subject of BUSINESS SUSTAINABILITY, the third of which is planned for year 2013.info:eu-repo/semantics/publishedVersio

    Capability-based governance patterns over the product life-cycle: an agent-based model

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    In recent literature, there is disagreement over the temporal pattern of vertical governance of firms over the product life-cycle. We use a novel neo-Schumpeterian agent-based simulation model to investigate emerging patterns of vertical governance for different levels of imitability and substitutability of capabilities. We find that, in the mature phase of the product life-cycle, firms generally prefer vertical specialization. However, in the early phase, imitability and substitutability, in interplay, determine the governance form preferred. High imitability frustrates appropriation and thereby discourages integration for synergistic advantages. However, firms need not vertically specialize: under low substitutability, incompatibilities reduce the advantages of specialization. When both substitutability and imitability are low, firms can appropriate the value of their inventions and there is no combinatorial advantage of specialization, so firms predominantly integrate. If substitutability is high and imitability is low, the combinatorial advantage of specialization balances with the synergistic advantage of integration

    A survey on financial applications of metaheuristics

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    Modern heuristics or metaheuristics are optimization algorithms that have been increasingly used during the last decades to support complex decision-making in a number of fields, such as logistics and transportation, telecommunication networks, bioinformatics, finance, and the like. The continuous increase in computing power, together with advancements in metaheuristics frameworks and parallelization strategies, are empowering these types of algorithms as one of the best alternatives to solve rich and real-life combinatorial optimization problems that arise in a number of financial and banking activities. This article reviews some of the works related to the use of metaheuristics in solving both classical and emergent problems in the finance arena. A non-exhaustive list of examples includes rich portfolio optimization, index tracking, enhanced indexation, credit risk, stock investments, financial project scheduling, option pricing, feature selection, bankruptcy and financial distress prediction, and credit risk assessment. This article also discusses some open opportunities for researchers in the field, and forecast the evolution of metaheuristics to include real-life uncertainty conditions into the optimization problems being considered.This work has been partially supported by the Spanish Ministry of Economy and Competitiveness (TRA2013-48180-C3-P, TRA2015-71883-REDT), FEDER, and the Universitat Jaume I mobility program (E-2015-36)

    Micro Behavioural Attitudes and Macro Technological Adaptation in Industrial Districts. An Agent-Based Prototype

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    Industrial Districts (IDs) are complex productive systems based on an evolutionary network of heterogeneous, functionally integrated and complementary firms, which are within the same market and geographical space. Setting up a prototype, able to reproduce an idealised ID, we model cognitive processes underlying the behaviour of ID firms. ID firms are bounded rationality agents, able to process information coming from technology and market environment and from their relational contexts. They are able to evaluate such information and to transform it into courses of action, routinising their choices, monitoring the environment, categorising, typifying and comparing information. But they have bounded cognitive resources: attention, time and memory. We test two different settings: the first one shows ID firms behaving according to a self-centred attitude, while the second one shows ID firms behaving according to a social centred attitude. We study how such a strong difference at micro-level can affect at macro-level the technological adaptation of IDs

    Adaptive Regulation in the Amoral Bazaar

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    Twelfth Oliver Schreiner Memorial Lecture,delivered on 20 October 2010 at the School of Law, University of the Witwatersrand, Johannesburg, South Africa. Many gradual changes in science, law and society are crystallizing to shape a significant transformation in administrative law. The doctrinal framework within which Justice Schreiner himself attempted to modernize how law should regulate government and private economic activity seems from our vantage point to be quite antiquated. In explaining why, my examples will come from the world of financial services, but they could easily be found anywhere in the area of law and regulation. First I will outline the basic premises of prevailing doctrine and its growing shortcomings. Then I will describe developments in our understanding of the social ecologies through which law and regulation is transfused. I will consider some of the implications for the way in which we need to think about future regulation in order to be more effective in this complex world. We are moving from a framework of directive regulation to one that has to become much more adaptive. While my talk will focus on understanding markets as evolutionary social ecologies, and the consequences this has for administrative law and regulation, it is also important that these amoral bazaars be grounded on a foundation of moral aspiraton and integrity. I will therefore conclude with a reminder that we ignore at our peril the urgent responsibility of redeveloping a moral framework within which markets should operate

    Big data analytics:Computational intelligence techniques and application areas

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    Big Data has significant impact in developing functional smart cities and supporting modern societies. In this paper, we investigate the importance of Big Data in modern life and economy, and discuss challenges arising from Big Data utilization. Different computational intelligence techniques have been considered as tools for Big Data analytics. We also explore the powerful combination of Big Data and Computational Intelligence (CI) and identify a number of areas, where novel applications in real world smart city problems can be developed by utilizing these powerful tools and techniques. We present a case study for intelligent transportation in the context of a smart city, and a novel data modelling methodology based on a biologically inspired universal generative modelling approach called Hierarchical Spatial-Temporal State Machine (HSTSM). We further discuss various implications of policy, protection, valuation and commercialization related to Big Data, its applications and deployment
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