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The paper published below was prepared by Taylor Ostrander for Frank Knight’s course, Economic Theory, Economics 301, during the Fall 1933 quarter.
Diego Rojas, Juan Estrada, Kim P. Huynh and David T. Jacho-Chávez
The efficient distribution of bank notes is a first-order responsibility of central banks. The authors study the distribution patterns of bank notes with an administrative dataset…
Abstract
The efficient distribution of bank notes is a first-order responsibility of central banks. The authors study the distribution patterns of bank notes with an administrative dataset from the Bank of Canada’s Currency Inventory Management Strategy. The single note inspection procedure generates a sample of 900 million bank notes in which the authors can trace the length of the stay of a bank note in the market. The authors define the duration of the bank note circulation cycle as beginning on the date the bank note is first shipped by the Bank of Canada to a financial institution and ending when it is returned to the Bank of Canada. In addition, the authors provide information regarding where the bank note is shipped and later received, as well as the physical fitness of the bank note upon return to the Bank of Canada’s distribution centers. K–prototype clustering classifies bank notes into types. A hazard model estimates the duration of bank note circulation cycles based on their clusters and characteristics. An adaptive elastic net provides an algorithm for dimension reduction. It is found that while the distribution of the duration is affected by fitness measures, their effects are negligible when compared with the influence exerted by the clusters related to bank note denominations.
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Bjorn H. Nordtveit and Fadia Nordtveit
The implications and impacts of the educational intelligent economy from the vantage point of digital frontierism is explored using a decolonial framework, with a specific focus…
Abstract
The implications and impacts of the educational intelligent economy from the vantage point of digital frontierism is explored using a decolonial framework, with a specific focus on Big Data and data sharing in Comparative and International Education (CIE). Recent debates are reviewed about CIE’s past histories and its current directions to tease out their implications for data sharing. The authors demonstrate how data sharing continues to reinforce imperialism through control, dissemination, and application of data, and how electronic and digital colonialism preserve current intellectual and structural hegemonies. Then, we give an example of how donors and funding agencies, including the National Science Foundation, engage in neoliberal scientism and control of data, and how it affects the future of social sciences, including CIE. Our inquiry is at the intersections of economic intelligence and educational intelligence in a rapidly evolving technocentric, data-dominated, and networked economy. The authors demonstrate how educational intelligence in the global economy may exacerbate the asymmetric access to data between the global North and the South, as educational data are increasingly becoming global commodities to be traded between various public and private actors. Finally, the authors argue that decolonial participatory research designs that aim at positive, sustained transformations, as opposed to the stagnancy of Big Data and data mining, should be used to address the problems inherent to the Educational Intelligent Economy.
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Our physical universe is 1.5×1010 years old. It began with the Big Bang. There is some debate about what happened in the first tenth of a second! The first 3×105 years were…
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Our physical universe is 1.5×1010 years old. It began with the Big Bang. There is some debate about what happened in the first tenth of a second! The first 3×105 years were radiation dominated. Since then it has been matter dominated. (This in accordance with the first law of thermodynamics which states that total mass-energy is conserved.) The universe has continuously expanded in space and in the future either this may continue, or expansion may stabilise at a fixed size or the universe may contract in the Big Crunch (depending on the spatial curvature). At a certain scale the universe is spatially isotropic and homogeneous. Its trajectory exhibits increasing entropy in accordance with the second law of thermodynamics. These statements are in accordance with certain models and empirical data: distant galaxies are receding from us at a velocity proportional to their distance; there is greater spatial uniformity at greater distances from us; there is uniform presence in space of radiation with a temperature of 2.7K; etc.
Peter S. Lee, Ishita Chakraborty and Shrabastee Banerjee
In this paper, we aim to provide a comprehensive overview of customer feedback literature, highlighting the burgeoning role of artificial intelligence (AI). Customer feedback has…
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In this paper, we aim to provide a comprehensive overview of customer feedback literature, highlighting the burgeoning role of artificial intelligence (AI). Customer feedback has long been a valuable source of customer insights for businesses and market researchers. While previously survey focused, customer feedback in the digital age has evolved to be rich, interactive, multimodal, and virtually real time. Such explosion in feedback content has also been accompanied by a rapid development of AI and machine learning technologies that enable firms to understand and take advantage of these high-velocity data sources. Yet, some of the challenges with traditional surveys remain, such as self-selection concerns of who chooses to participate and what attributes they give feedback on. In addition, these new feedback channels face other unique challenges like review manipulation and herding effects due to their public and democratic nature. Thus, while the AI toolkit has revolutionized the area of customer feedback, extracting meaningful insights requires complementing it with the appropriate social science toolkit. We begin by touching upon conventional customer feedback research and chart its evolution through the years as the nature of available data and analysis tools develop. We conclude by providing recommendations for future questions that remain to be explored in this field.
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This chapter outlines the major analytical efforts performed as part of the overarching research project with the aim to investigate the organizational and environmental…
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This chapter outlines the major analytical efforts performed as part of the overarching research project with the aim to investigate the organizational and environmental circumstances around the extreme negatively skewed performance outcomes regularly observed across firms. It presents the collection and treatment of comprehensive European and North American datasets where subsequent analyses reproduce the contours of performance distributions observed in prior empirical studies. Key theoretical perspectives engaged in prior studies of performance data and the implied risk-return relationships are presented and these point to emerging commonalities between empirical findings in the management and finance fields. The results from extended analyses of more fine-grained data from North American manufacturing firms uncover the subtle effects of leadership and structural features, and computational simulations demonstrate how the implied adaptive processes can lead to the empirically observed performance distributions. Finally, the findings from the analytical project activities are set in context and the implications of the observed results are discussed to reach at a final conclusion.
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H. Kent Baker, Hugo Benedetti, Ehsan Nikbakht and Sean Stein Smith