Search results

Recent U.S. Treasury yields have been constrained to some extent by the zero lower bound (ZLB) on nominal interest rates. Therefore, we compare the performance of a standard affine Gaussian dynamic term structure model (DTSM), which ignores the ZLB, to a shadow-rate DTSM, which respects the ZLB. Near the ZLB, we find notable declines in the forecast accuracy of the standard model, while the shadow-rate model forecasts well. However, 10-year yield term premiums are broadly similar across the two models. Finally, in applying the shadow-rate model, we find no gain from estimating a slightly positive lower bound on U.S. yields.

The chapter discusses how student engagement can be facilitated through educational designs that make conscious use of various online communication technologies. The discussions are based on cases from the practice at the Danish Master Programme in Information and Communications Technology (ICT) and Learning (MIL), where students from all over Denmark within a networked learning structure are studying in groups combining on-site seminars with independent and challenging virtually organized project periods. The chapter discusses the involvement of students as co-designers of how courses and learning environments unfold, and deals with the development of students’ information literacy. Various teacher roles are addressed, as implementing new educational technology requires teachers who are flexible and aware of the different challenges in the networked environment. The aim of the chapter is to discuss the application of new technological possibilities in educational settings inspired by problem- and project-based learning.

In light of the growing interest in neuroscience within the managerial and organizational cognition (MOC) scholarly domain at large, this chapter advances current knowledge on core neuroscience methods. It does so by building on the theoretical analysis put forward by Healey and Hodgkinson (2014, 2015), and by offering a thorough – yet accessible – methodological framework for a better understanding of key cognitive and social neuroscience methods. Classifying neuroscience methods based on their degree of resolution, functionality, and anatomical focus, the chapter outlines their features, practicalities, advantages and disadvantages. Specifically, it focuses on functional magnetic resonance imaging, electroencephalography, magnetoencephalography, heart rate variability, and skin conductance response. Equipped with knowledge of these methods, researchers will be able to further their understanding of the potential synergies between management and neuroscience, to better appreciate and evaluate the value of neuroscience methods, and to look at new ways to frame old and new research questions in MOC. The chapter also builds bridges between researchers and practitioners by rebalancing the hype and hopes surrounding the use of neuroscience in management theory and practice.

Although concept evaluation has attracted much attention, collaborative concept evaluation has received minimal attention. In this work, we identify problems and propose solutions regarding collaborative concept evaluation. First, we reviewed past projects and interviewed evaluators with international design experiences to conclude that concept evaluation criteria are not established but constructed. Second, we apply the psychology of Brunswik's Lens model to propose that providing multiple concept aspects improve collaborative concept evaluation. Three experimental studies demonstrate that our proposed Concept Aspect Profile (CAP) model (1) is superior to existing concept evaluation models, (2) differentiates between breakthrough new product concepts and incremental new product concepts, and (3) increases the likelihood that a concept receives the Industrial Design Excellence Award (IDEA). This work contributes to marketing research of concept evaluation as well as provides implications for designers.

This chapter treats new product development in relation to management and organization. The data comprise new product development within four Danish manufacturing firms studied by interviewing the management, product leaders and other employees. The results show how integrated product development procedures have furthered a stronger market orientation. The stage-gate version of integration has fertilized knowledge across functions. The new procedures have made the understanding of cooperation across functions topical and have been followed up by more involvement of the employees. The changes have run into barriers which to a certain extent have been met by organizational changes.

Certain elements of Hayek’s work are prominent precursors to the modern field of complex adaptive systems, including his ideas on spontaneous order, his focus on market processes, his contrast between designing and gardening, and his own framing of complex systems. Conceptually, he was well ahead of his time, prescient in his formulation of novel ways to think about economies and societies. Technically, the fact that he did not mathematically formalize most of the notions he developed makes his insights hard to incorporate unambiguously into models. However, because so much of his work is divorced from the simplistic models proffered by early mathematical economics, it stands as fertile ground for complex systems researchers today. I suggest that Austrian economists can create a progressive research program by building models of these Hayekian ideas, and thereby gain traction within the economics profession. Instead of mathematical models the suite of techniques and tools known as agent-based computing seems particularly well-suited to addressing traditional Austrian topics like money, business cycles, coordination, market processes, and so on, while staying faithful to the methodological individualism and bottom-up perspective that underpin the entire school of thought.