Indices that capture creative destruction: questions and implications

The paper argues that micro and macro economists interested in the dynamics of creative destruction can gain important insights by using indices that capture the effect of innovation on the relative position of firms. This is due to the uneven and 'destructive' effect that radical innovation has on firm rankings. One such index is the market share instability index. On the financial side, the excess volatility of stock prices and idiosyncratic risk also appear to capture the uneven dynamics of creative destruction. The paper concludes by considering the implications of these propositions for economy-wide growth during periods of radical innovation (e.g. GPTs)

Development and validation of the relational depth frequency scale

OBJECTIVE: The Relational Depth Frequency Scale (RDFS) was developed to measure the frequency of specific moments of profound contact and engagement in psychotherapy. METHOD: Following an initial process of item generation and rating, Three-Step Test Interviews were conducted with eight therapists and clients to further refine potential items. Sixteen relational depth items were then taken forward for psychometric assessment in an online sample of 336 therapists and 220 clients, each divided into separate "shortening" and "checking" subsamples. RESULTS: Following psychometric scale shortening involving confirmatory factor analysis (CFA) and Rasch analysis, we formed a six item RDFS that could be used with both therapists and clients. The parameters of the shortened form replicated well in the independent checking subsamples with good internal consistency (Cronbach's α = .85 and .93 in therapist and clients respectively), acceptable fit statistics in CFA and Rasch analysis, and moderate to high levels of convergent validity against the Working Alliance Inventory (Short Form, Revised) and Relational Depth Inventory (RDI-R2). CONCLUSION: As a brief self-report measure, the RDFS can be used to further assess the relationship between relational depth and therapeutic outcomes. Further research is needed to examine the validity of the RDFS in clinical settings

Forth Industrial Revolution (4 IR) : digital disruption of cyber-physical systems

Article focus of the disruptive character of technological innovations brought by Fourth Industrial Revolution (4IR), withits unprecedented scale and scope, and exponential speed of incoming innovations, described from the point view of 'unintended consequences' (cross cutting impact of disruptive technologies across many sectors and aspects of human life). With integration of technology innovations emerging in number of fields including advanced robotics, pervasive computing, artificial intelligence, nano-and bio-technologies, additive and smart manufacturing, Forth Industrial Revolution introduce new ways in which technology becomes embedded not only within the society, economy and culture, but also within human body and mind (described by integration of technologies, collectively referred to as cyber-physical systems). At the forefront of digital transformation, based on cyber physical systems, stands Industry 4.0, referring to recent technological advances, where internet and supporting technologies (embedded systems) are serving as framework to integrate physical objects, human actors, intelligent machines, production lines and processes across organizational boundaries to form new kind of intelligent, networked value chain, called smart factory. Article presents broader context of 'disruptive changes (innovations)' accompanying 4IR, that embrace both economical perspective of 'broaderrestructuring' of modern economy and society (described in second part of the article as transition from second to third and forth industrial revolution), and technological perspective of computer and informational science with advances in pervasive computing, algorithms and artificial intelligence (described in third part of article with different stages of web development : web 1.0, web 2.0, web 3.0, web 4.0). What's more important, article presents hardly ever described in literature, psychological and philosophical perspective, more or less subtle reconfiguration made under the influence of these technologies, determining physical (body), psychological (mind) and philosophical aspect of human existence (the very idea of what it means to be the human), fully depicted in the conclusion of the article. The core element (novelty) is the attempt to bring full understanding and acknowledgment of disruptive innovations', that "change not only of the what and the how things are done, but also the who we are", moving beyond economical or technological perspective, to embrace also psychological and philosophical one

Decision Support Systems for Financial Market Surveillance

Entscheidungsunterstützungssysteme in der Finanzwirtschaft sind nicht nur für die Wis-senschaft, sondern auch für die Praxis von großem Interesse. Um die Finanzmarktüber-wachung zu gewährleisten, sehen sich die Finanzaufsichtsbehörden auf der einen Seite, mit der steigenden Anzahl von onlineverfügbaren Informationen, wie z.B. den Finanz-Blogs und -Nachrichten konfrontiert. Auf der anderen Seite stellen schnell aufkommen-de Trends, wie z.B. die stetig wachsende Menge an online verfügbaren Daten sowie die Entwicklung von Data-Mining-Methoden, Herausforderungen für die Wissenschaft dar. Entscheidungsunterstützungssysteme in der Finanzwirtschaft bieten die Möglichkeit rechtzeitig relevante Informationen für Finanzaufsichtsbehörden und Compliance-Beauftragte von Finanzinstituten zur Verfügung zu stellen. In dieser Arbeit werden IT-Artefakte vorgestellt, welche die Entscheidungsfindung der Finanzmarktüberwachung unterstützen. Darüber hinaus wird eine erklärende Designtheorie vorgestellt, welche die Anforderungen der Regulierungsbehörden und der Compliance-Beauftragten in Finan-zinstituten aufgreift

If Engineers solve problems, why are there still so many problems to solve?: Getting beyond technical “solutions” in the classroom

This Evidence-Based Practice Paper describes implementation and assessment of an exercise bringing international perspectives, liberal arts, and the United Nations Sustainable Development Goals into a first-year engineering program - challenging the arbitrary boundary between engineering and the liberal arts. First-year engineering students (Civil, Mechanical, and Electrical) participated in a role-playing game recreating the 2009 United Nations Climate Talks in Copenhagen, Denmark. The exercise is part of a series of published games called Reacting to the Past (RTTP), with the purpose of engaging students to enhance their understanding of a given event or topic, while improving their research and communication skills. In this case, the further goal was for students to broaden their understanding of the technical aspects of climate change, as well as the political and social reasons that technological solutions are not always implemented, despite the best intentions and technical knowledge. Students practiced researching a topic, selecting and evaluating resources, proper citation of works used, written and oral communication, and advancing a position in a professional manner. These skills, while crucial for practicing engineers, are often relatively weak in incoming students. Our initial success integrating international perspectives and traditional liberal arts concepts into a first-year engineering course was supported by several classroom innovations, including a classroom-embedded librarian and gamification. Benefits of this activity in the first-year classroom include: - Getting students to interact with each other in a substantive way, strengthening the cohort, and supporting retention. - Providing structure for learning library, writing, and presentation skills, etc. - Introducing how professionals handle concepts of politics, tact, and negotiating across boundaries. - Providing an experiential learning environment to understand how politics, both personal and professional, can interact with technical solutions, leading to improvement or disruption in the lives of all. - Starting a discussion about United Nations Sustainable Development Goals early in the careers of engineering students. Certainly, students will see these concepts again; there are multiple group projects and research projects in their time at our school, as well as courses on ethics and professionalism. However, introducing these concepts in their first semester prepares students for future courses, and helps them understand that engineering is not just problem sets and robotics

If Engineers solve problems, why are there still so many problems to solve?: Getting beyond technical “solutions” in the classroom

This Evidence-Based Practice Paper describes implementation and assessment of an exercise bringing international perspectives, liberal arts, and the United Nations Sustainable Development Goals into a first-year engineering program - challenging the arbitrary boundary between engineering and the liberal arts. First-year engineering students (Civil, Mechanical, and Electrical) participated in a role-playing game recreating the 2009 United Nations Climate Talks in Copenhagen, Denmark. The exercise is part of a series of published games called Reacting to the Past (RTTP), with the purpose of engaging students to enhance their understanding of a given event or topic, while improving their research and communication skills. In this case, the further goal was for students to broaden their understanding of the technical aspects of climate change, as well as the political and social reasons that technological solutions are not always implemented, despite the best intentions and technical knowledge. Students practiced researching a topic, selecting and evaluating resources, proper citation of works used, written and oral communication, and advancing a position in a professional manner. These skills, while crucial for practicing engineers, are often relatively weak in incoming students. Our initial success integrating international perspectives and traditional liberal arts concepts into a first-year engineering course was supported by several classroom innovations, including a classroom-embedded librarian and gamification. Benefits of this activity in the first-year classroom include: - Getting students to interact with each other in a substantive way, strengthening the cohort, and supporting retention. - Providing structure for learning library, writing, and presentation skills, etc. - Introducing how professionals handle concepts of politics, tact, and negotiating across boundaries. - Providing an experiential learning environment to understand how politics, both personal and professional, can interact with technical solutions, leading to improvement or disruption in the lives of all. - Starting a discussion about United Nations Sustainable Development Goals early in the careers of engineering students. Certainly, students will see these concepts again; there are multiple group projects and research projects in their time at our school, as well as courses on ethics and professionalism. However, introducing these concepts in their first semester prepares students for future courses, and helps them understand that engineering is not just problem sets and robotics