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This article examines the accuracy and bias inherent in the wisdom of crowd effect. The purpose is to clarify what kind of bias crowds have when they make predictions. In the theoretical inquiry, the effect of the accumulated absolute deviation was simulated. In the empirical study, the observed biases were examined using data from forecasting foreign exchange rates.

In the theoretical inquiry, the effect of the accumulated absolute deviation was simulated based on mathematical propositions. In the empirical study, the data from 2004 to 2011 were provided by Nikkei, which holds the “Nikkei Yen Derby” competition. In total, 3,657 groups forecasted the foreign exchange rate, and the first prediction was done in early May to forecast the rate at the end of May. The second round took place in June in a similar manner.

The average absolute deviation in May was smaller than that in June. The first round of prediction was more accurate than the second round one. Predictors were affected by the observable real exchange rate, such that they modified their forecasts by referring to the actual data in early June. An actuality bias existed when the participants lost their diverse prospects. Since the standard deviations of the June forecasts were smaller than those of May, the fact-convergence effect was supported.

This article reports novel findings that affect the wisdom of crowd effect—referred to as actuality bias and fact-convergence effect. The former refers to a forecasting bias toward the observable rate near the forecasting date. The latter implies that predictors, as a whole, indicate smaller forecast deviations by observing the realized foreign exchange rate.

The purpose of this paper is to examine whether reputation element affects the decision relative performance of trust, bonus and incentive contracts using social laboratory experiments.

The study conducts the following lab experiments bonus–incentive treatment without reputation, bonus–incentive treatment with reputation and trust–incentive treatment with reputation.

The study finds that the reputation and fairness concerns, in contrast to self-interest, may have a decisive impact on the actual and optimal choices in the reciprocity-based contracts. The principal pays higher salaries in the bonus contract as compared to an incentive contract.

The study contributes to the behavioral economic literature in the following dimensions. The existing literature on lab experiments considers a bonus contract as better than the debt contract; however, it does not consider the trust contract better than the debt contract.

Public health strategies and activities are intrinsically complex. According to the literature, this “wickedness” depends on the different interests and expectations of the stakeholders and the community, the fragmented governance of the related services and the challenges in measuring and assessing public health outcomes. Existent performance measures and management systems for public health are not designed to cope with wickedness since they are mainly focused on inputs and outputs, neglecting broader outcomes because of their long-term impact and the poor accountability of results. This research aims to tackle this shortfall by adopting a dynamic performance management (DPM) approach.

This research explores the case of the vaccination campaign of a Regional Health System. Through the analysis of an illustrative case study, the research discusses both opportunities and limits of the proposed approach.

This research highlights that DPM supports performance management (PM) in wicked contexts, thanks to the adoption of a system-wide perspective and the possibility of using simulation to experiment with alternative strategies and benchmarking performance results with simulated trends.

This article tackles a gap related to the management of wicked problems both from a theory and a practical perspective. In particular, this research suggests the adoption of DPM as an approach that may support policymakers in tackling social pluralism, institutional complexity and scientific uncertainty all at once.

The purpose of this study is to propose a multidimensional view of social innovation.

It offers a detailed analysis of the activities performed by ADEL (Agência de Desenvolvimento Econômico Local) – a regional non-governmental organization located in one of the poorest regions of Brazil – which is succeeding in engaging young people in the promotion of local development. The case was analysed drawing on the dimensions structured by researchers of one of the main centres of social innovation in the world, the Centre de Recherche sur Les Innovations Sociales (CRISES) based in Canada.

The results found characterize ADEL as a social innovation based on the dimensions of social innovation described in the CRISES’ conceptual encyclopaedia (Tardif and Harrison, 2005). The results highlight the singularities of the case studied, which allowed the elaboration of a revisited table of dimensions proposed by the CRISES’ researchers.

For future studies, using the CRISES’ table as reference of analysis for other social innovations, the possibility suggested is the quantitative exploration of these dimensions.

The originality of this article lies in the fact that it presents a representative social innovation for the Brazilian semiarid.

This paper aims to explore how digital technologies have forced small- to medium-sized enterprises (SMEs) to reconsider and experiment with their business models (BMs) and how this contributes to their innovativeness and performance.

An empirical study has been conducted on 338 European SMEs actively using social media and big data to innovate their BMs. Four in-depth case studies of companies involved in BM innovation have also been carried out.

Findings show that the use of social media and big data in BMI is mainly driven by strategic and innovation-related internal motives. External technology turbulence plays a role too. BMI driven by social media and big data has a positive impact on business performance. Analysis of the case studies shows that BM is driven by big data rather than by social media.

Research into big data- and social media-driven BMs needs more insight into how components are affected and how SMEs are experimenting with adjusting their BMs, specifically in terms of human and organizational factors.

Findings of this study can be used by managers and top-level executives to better understand how firms experiment with BMI, what affects business model components and how implementation might affect BMI performance.

This paper is one of the first research contributions to analyse the impact of digitalization, specifically the impact of social media and big data on a large number of European SMEs.

The purpose of this paper is to achieve effective governance of online rumors through the proposed rumor propagation model and immunization strategy.

The paper leverages the agent-based modeling (ABM) method to model individuals from two aspects, behavior and attitude. Based on the analysis and research of online data, we propose a rumor propagation model, namely the Untouched view transmit removed-Susceptible hesitate agree disagree (Unite-Shad), and devise an immunization strategy, namely the Gravity Immunization Strategy (GIS). A graph-based framework, namely Pregel, is used to carry out the rumor propagation simulation experiments. Through the experiments, the rationality of the Unite-Shad and the effectiveness of the GIS are verified.

The study discovers that the inconsistency between human behaviors and attitudes in rumor propagation can be explained by the Unite-shad model. Besides, the GIS, which shows better performance in small-world networks than in scale-free networks, can effectively suppress rumor propagation in the early stage.

This paper provides an effective immunization strategy for rumor governance. Specifically, the Unite-Shad model reveals the mechanism of rumor propagation, and the GIS provides an effective governance method for selecting immune nodes.

The inconsistency of human behaviors and attitudes in real scenes is modeled in the Unite-Shad model. Combined with the model, the definition of diffusion domain is proposed and a novel immunization strategy, namely GIS, is designed, which is significant for the social governance of rumor propagation.

Based on the assumption of the service-dominant logic (S-D logic) that every exchange is service-for-service and on the relevance of the beneficiary’s role in the co-creation of value, this paper aims to investigate the effects of engagement in the context of social marketing, where the value proposition is an invitation to practice mindfulness.

A field experiment was carried out with 72 volunteers, using a pre-test/post-test control group design. The treatment applied was a set of strategies to increase the engagement of the participants to attain a better result in five dependent variables associated mainly with the benefits of mindfulness practice. Measurements were made from a profile analysis, and submitted to Mann-Whitney and t-tests.

A large effect of group and time factors were observed in the multivariate test, as well as differences in the co-creation of value between groups.

This study can contribute to stimulate experimental transdisciplinary research in humans, using concepts from S-D logic and social marketing to promote positive behavioral change. This approach is probably more efficient at explaining and improving human behavior, given its complex nature.