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The duration of an innovation process, from new idea to new business, may take many years. This makes it necessary to incorporate a vision of the future. The Cyclic Innovation Model (CIM) shows that aspects such as multiplicity (looking at multi-fold futures) and multidimensionality (looking at different aspects of the future) should be taken into account. Looking at the different actors involved in CIM, the future should be researched with an open mind (meaning that the transition path to the future should be kept wide open) and different time horizons should be taken into account.

This chapter explores collective imageries of the distant future and unpacks how fuzzy frames that anticipate things-to-come lead to variations in “technological solutions” envisioned for the distant future. It suggests that these frames are characterized by the struggle over the construction of different future plots and the proselytization of divergent pathways to the future. Such frames are a product of collective anticipation, which refers to a set of ideas, imageries and beliefs about the future that can be located in the form of structures of knowledge, such as cultural artifacts, scientific products and political frames that shape the thinking of the collective. This chapter posits that the “fuzziness” of our frames anticipating the distant future could be reduced through a selective process where alternatives of the future are winnowed out by processes of selection and exclusion based on faith, values and evidence.

The purpose of this study is to unfold the existing information channel in the higher moments of currency futures for different time horizons.

The authors use a quasi-Bayesian local likelihood approach within a time-varying parameter vector autoregression (TVP-VAR) framework and a dynamic connectedness measure to study the volatility, skewness and kurtosis of most traded currency futures.

The authors’ results suggest a time-varying presence of dynamic connectedness within higher moments of currency futures. Most spillovers pertain to shorter time horizons. The authors find that in net terms, CHF, EUR and JPY are the most important contributors to the system, while the authors emphasize that the role of being a transmitter or a receiver varies for pairwise interactions and time windows.

To the best of the authors’ knowledge, this is the first study that looks upon the connectivity vis-á-vis uncertainty, asymmetry and fat tails in currency futures within a dynamic Bayesian paradigm. The authors extend the current literature by proposing new insights into asset distributions.

The issue of risk premium in commodity futures market has long been examined since Keynes’ (1930) normal backwardation hypothesis. We further examine the normal backwardation hypothesis in the gold futures market, using a Goldman Sachs Commodity Index (GSCI) approach. We find no evidence that risk premium exists in the gold futures market over the period 1980–2005. Finally, we provide further explanations as to why there is no risk premium in the gold futures market by investigating the actual gold futures positions taken by gold mining firms. We contend that lack of hedging activity by gold miners may explain the lack of risk premium in gold market.

Advances in Artificial Intelligence (AI) technologies and Autonomous Unmanned Vehicles are shaping our daily lives, society, and will continue to transform how we will fight future wars. Advances in AI technologies have fueled an explosion of interest in the military and political domain. As AI technologies evolve, there will be increased reliance on these systems to maintain global security. For the individual and society, AI presents challenges related to surveillance, personal freedom, and privacy. For the military, we will need to exploit advances in AI technologies to support the warfighter and ensure global security. The integration of AI technologies in the battlespace presents advantages, costs, and risks in the future battlespace. This chapter will examine the issues related to advances in AI technologies, as we examine the benefits, costs, and risks associated with integrating AI and autonomous systems in society and in the future battlespace.

This research highlights the scenarios that might serve as a strategic vision to describe a future beyond the current library, one which both guides provosts and creates a map for the transformation of human resources and technology in the university research libraries. The scenarios offer managerial leaders an opportunity to envision new roles for librarians and staff which brings a much needed focus on the development of human resources as well as a thought-stream to understand decisions which effectively and systematically move the organization toward a strategic vision.

These scenarios also outline possible future directions research libraries could take by focusing on perspectives from library directors, provosts, and administrators for human resources. The four case study scenarios introduce potential future roles for librarians and highlight the unsustainability of the current scholarly communications model as well as uncertain factors related to the political, social, technical, and demographic issues facing campuses. Given the changes institutions face, scenarios allow directors to include more uncertainty when developing and articulating a vision. These scenarios may start a discussion, before a strategic planning process, to sharpen the evaluations and measures necessary to monitor achievements that define the value of the library.

This study employs a new time series representation of persistence in conditional mean and variance to test for the existence of the long memory property in the currency futures market. Empirical results indicate that there exists a fractional exponent in the differencing process for foreign currency futures prices. The series of returns for these currencies displays long-term positive dependence. A hedging strategy for long memory in volatility is also discussed in this article to help the investors hedge for the exchange rate risk by using currency futures.

This chapter investigates the impact change of the composition of market agents on the timing of the arrival of information in Bursa Malaysia. The price discovery role of futures trading on the spot market is examined through three distinct sub-periods: pre-crisis, crisis and after capital controls. For this purpose, the Johansen Cointegration (1988, 1991) and VECM and Granger causality are used. The analysis shows that there is no significant long-run relationship. As for short-run, the results show futures lead spot. However, futures’ lead is shorter in pre-crisis and crisis periods where foreign institutional investors dominate. This study deduces that the significant change in the composition of market agents could contribute to the variation of lead–lag relationship.