Why Business Schools Need Radical Innovations: Drivers and Development Trajectories

Business education is undergoing paradigmatic changes, and business schools are feeling the brunt of these changes. This article proposes that "business as usual" is over for traditional business schools. Using Ohmae's 3Cs—customers, competitors, and company—as an analytical framework, I examine important changes from different vantage points. From the perspective of customers, the focus lies on technological and value changes. In terms of competitors, the analysis centers on the growing number of alternative suppliers of business education and the geographic shifts in the business school landscape. As to the company dimension, I comment on the vast number and heterogeneity of business schools and suggest that they are heading toward a business model competition. In considering potential development paths for business schools, the article concludes that they require radical innovations to stay relevant

Attraction to Chance in Germany and Australia. An experimental study of cultural differences

This paper explores cultural differences in risky choices between Australian and German students. The focus is not on risk itself, but on tension which is a positive attribute of risky choices. Furthermore, the effects of real versus hypothetical payoffs are analysed. The experiment of this paper shows that in a given set of tension creating choices, Australians do choose tension more often than Germans, while Germans prefer higher tension. Additionally it is shown that real payoffs do make a difference in the data, but the real payoff even increases the effect.

The Relevance of Irrelevant Alternatives: An experimental investigation of risky choices

Experimental economists have discovered various violations of expected utility theory and offered alternative models that can explain laboratory results. This study discovers a new violation in risky choices that cannot be explained by theories like Prospect Theory, Disappoint- ment or Regret Theory. In an experimental setting using a between- subject design, the influence of a dominated alternative on certainty equivalents is shown. One group of subjects was offered a series of choices between a lottery ticket with a 50-50 chance of winning and a sure payoff. A second group was offered the same choice plus a third alternative, that as it turned out was not chosen by any participant. As a result, the average chosen sure payoff in the second group was higher than in the first group. That means, by adding a dominated alternative to a choice set, the certainty equivalent of a lottery is in- creased.

Loss Aversion for time: An experimental investigation of time preferences

This paper investigates decisions about inter-temporal tradeoffs. The objective of the study is to explore the valuation of time itself without tradeoffs between time and consequences. In an experimental study subjects made decisions about waiting time, where the time was subject to risk. We find that subjects are risk-seeking for decisions about time, which leads to the conclusion that waiting time is experienced as a loss. Subjects in this experiment show similar choice patters as can be seen in studies about money when losses are involved.

The St. Petersburg Paradox despite risk-seeking preferences: An experimental study

The St. Petersburg is one of the oldest violations of expected utility theory. Thus far, explanations of the paradox aim at small probabili- ties being perceived as zero and the boundedness of utility. This paper provides experimental results showing that neither risk attitudes nor perception of small probabilities explain the paradox. We nd that even in situations where subjects are risk-seeking, the St. Petersburg Paradox exists. This indicates that the paradox lies at the very core of human decision-making processes and cannot be explained by the parameters discussed in previous research so far.

Modular design of data-parallel graph algorithms

Amorphous Data Parallelism has proven to be a suitable vehicle for implementing concurrent graph algorithms effectively on multi-core architectures. In view of the growing complexity of graph algorithms for information analysis, there is a need to facilitate modular design techniques in the context of Amorphous Data Parallelism. In this paper, we investigate what it takes to formulate algorithms possessing Amorphous Data Parallelism in a modular fashion enabling a large degree of code re-use. Using the betweenness centrality algorithm, a widely popular algorithm in the analysis of social networks, we demonstrate that a single optimisation technique can suffice to enable a modular programming style without loosing the efficiency of a tailor-made monolithic implementation

Industry diversity, competition and firm relatedness: The impact on employment before and after the 2008 global financial crisis

Industry diversity, competition and firm relatedness: the impact on employment before and after the 2008 global financial crisis. Regional Studies. This study investigates the extent to which indicators of external-scale economies impacted employment growth in Canada over the period 2004–11. It focuses on knowledge spillovers between firms while accounting for Marshallian specialization, Jacobs’ diversity and competition by industry, as well as related and unrelated firm varieties in terms of employment and sales. It is found that the employment growth effects of local competition and diversity are positive, while the effect of Marshallian specialization is negative. Diversification is found to be particularly important for employment growth during the global financial crisis and immediately thereafter

"Why Don't Consumers Care about CSR?" - A Qualitative Study Exploring the Role of CSR in Consumption Decisions. Empirical Paper

There is an unresolved paradox concerning the role of corporate social responsibility (CSR) in consumer behavior. On the one hand, consumers demand more and more CSR information from corporations. On the other hand, research indicates a considerable gap between consumers' apparent interest in CSR and the limited role of CSR in purchase behavior. This paper attempts to shed light on this paradox by drawing on qualitative data from in-depth interviews. The findings show that the evaluation of CSR initiatives is a complex and hierarchically-structured process, where consumers distinguish between core, central, and peripheral factors. This paper describes these factors in detail and explains the complexity of consumers' assessment of CSR. These insights then serve as a basis for discussing the theoretical and managerial implications of the research findings. To this end, the paper contributes to a better understanding of the role of CSR in consumption decisions

Astrophysical fluid simulations of thermally ideal gases with non-constant adiabatic index: numerical implementation

An Equation of State (\textit{EoS}) closes the set of fluid equations. Although an ideal EoS with a constant \textit{adiabatic index} $\Gamma$ is the preferred choice due to its simplistic implementation, many astrophysical fluid simulations may benefit from a more sophisticated treatment that can account for diverse chemical processes. Here, we first review the basic thermodynamic principles of a gas mixture in terms of its thermal and caloric EoS by including effects like ionization, dissociation as well as temperature dependent degrees of freedom such as molecular vibrations and rotations. The formulation is revisited in the context of plasmas that are either in equilibrium conditions (local thermodynamic- or collisional excitation- equilibria) or described by non-equilibrium chemistry coupled to optically thin radiative cooling. We then present a numerical implementation of thermally ideal gases obeying a more general caloric EoS with non-constant adiabatic index in Godunov-type numerical schemes.We discuss the necessary modifications to the Riemann solver and to the conversion between total energy and pressure (or vice-versa) routinely invoked in Godunov-type schemes. We then present two different approaches for computing the EoS.The first one employs root-finder methods and it is best suited for EoS in analytical form. The second one leans on lookup table and interpolation and results in a more computationally efficient approach although care must be taken to ensure thermodynamic consistency. A number of selected benchmarks demonstrate that the employment of a non-ideal EoS can lead to important differences in the solution when the temperature range is $500-10^4$ K where dissociation and ionization occur. The implementation of selected EoS introduces additional computational costs although using lookup table methods can significantly reduce the overhead by a factor $3\sim 4$.Comment: 17 pages, 10 figures, Accepted for publication in A&