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The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Dynamic advertising, including television and online video ads, demands new theory and tools developed to understand attention to moving stimuli. The purpose of this study is to empirically test the predictions of a new dynamic attention theory, Dynamic Human-Centred Communication Systems Theory, versus the predictions of salience theory.

An eye-tracking study used a sample of consumers to measure visual attention to potential areas of interest (AOIs) in a random selection of unfamiliar video ads. An eye-tracking software feature called intelligent bounding boxes (IBBs) was used to track attention to moving AOIs. AOIs were coded for the presence of static salience variables (size, brightness, colour and clutter) and dynamic attention theory dimensions (imminence, motivational relevance, task relevance and stability).

Static salience variables contributed 90% of explained variance in fixation and 57% in fixation duration. However, the data further supported the three-way interaction uniquely predicted by dynamic attention theory: between imminence (central vs peripheral), relevance (motivational or task relevant vs not) and stability (fleeting vs stable). The findings of this study indicate that viewers treat dynamic stimuli like real life, paying less attention to central, relevant and stable AOIs, which are available across time and space in the environment and so do not need to be memorised.

Despite the limitations of small samples of consumers and video ads, the results of this study demonstrate the potential of two relatively recent innovations, which have received limited emphasis in the marketing literature: dynamic attention theory and IBBs.

This study documents what does and does not attract attention to video advertising. What gets attention according to salience theory (e.g. central location) may not always get attention in dynamic advertising because of the effects of relevance and stability. To better understand how to execute video advertising to direct and retain attention to important AOIs, advertisers and advertising researchers are encouraged to use IBBs.

This study makes two original contributions: to marketing theory, by showing how dynamic attention theory can predict attention to video advertising better than salience theory, and to marketing research, showing the utility of tracking visual attention to moving objects in video advertising with IBBs, which appear underutilised in advertising research.

Cognitive dysfunctions are a common clinical feature of schizophrenia and represent important indicators of outcome among patients who are affected. Therefore, a randomized, controlled, monocentric, single-blind trial was carried out to compare two different rehabilitation strategies adopted for the restoration and recovery of cognitive functioning of residential patients with schizophrenia. A sample of 110 residential patients were selected and, during the experimental period, a group of 55 patients was treated with sets of domain-specific exercises (SRT+CRT), whereas an equal control group was treated with sets of non-domain-specific exercises (SRT+PBO) belonging to the Cogpack® software. The effects on the scores (between T0 and T1) of the variables treatment and time and of the interaction time X treatment were analyzed: for the total BACS, the main effect of the between-factors variable treatment is statistically significant (F=201.562 P=0.000), as well as the effect of the within-factors variable “time” (F=496.68 P=0.000).The interaction of these two factors is also statistically significant (F=299.594 P=0.000). The addition of cognitive remediation therapy (CRT) to a standard treatment of metacognitive training (MCT) resulted in a significant improvement in global neurocognitive functioning and has reported positive effects with regard to the strengthening of verbal and working memory, selective and sustained attention at T1. A relevant result is the statistically significance of “time X treatment” for all the tests administered: we can assume that the domain-specific cognitive training amplifies the effects of SRT, as the primary and secondary goals of the present study were achieved.

This paper aims to present an analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.

The study’s analysis has identified common structural flaws throughout the securitization food chain. These structural flaws include inappropriate incentives, the absence of punishment, moral hazard and conflicts of interest. This research sees the full impact of these structural flaws when considering their co-occurrence throughout the financial system. The authors address systemic defects in the securitization food chain and examine the inter-relationships among homeowners, mortgage originators, investment banks and investors. The authors also address the role of exogenous factors, including the SEC, AIG, the credit rating agencies, Congress, business academia and the business media.

The study argues that the lack of criminal prosecutions of key financial executives has been a key factor in creating moral hazard. Eight years after the Great Recession ended in the USA, the financial services industry continues to suffer from a crisis of trust with society.

An overwhelming majority of Americans, 89 per cent, believe that the federal government does a poor job of regulating the financial services industry (Puzzanghera, 2014). A study argues that the current corporate lobbying framework undermines societal expectations of political equality and consent (Alzola, 2013). The authors believe the Singapore model may be a useful starting point to restructure regulatory agencies so that they are more responsive to societal concerns and less responsive to special interests. Finally, the widespread perception is that the financial services sector, in particular, is ethically challenged (Ferguson, 2012); perhaps there would be some benefit from the implementation of ethical climate monitoring in firms that have been subject to deferred prosecution agreements for serious ethical violations (Arnaud, 2010).

The authors believe the paper makes a truly original contribution. They provide new insights via their analysis of the role of financial incentives, moral hazard and conflicts of interests leading up to the 2008 financial crisis.

The importance of artificial intelligence in human resource management has grown substantially. Previous literature discusses the advantages of AI implementation at a workplace and its various consequences, often hostile, for employees. However, there is little empirical research on the topic. The authors address this gap by studying if individuals oppose biased algorithm recommendations regarding disciplinary actions in an organisation.

The authors conducted an exploratory experiment in which the authors evaluated 76 subjects over a set of 5 scenarios in which a biased algorithm gave strict recommendations regarding disciplinary actions at a workplace.

The authors’ results suggest that biased suggestions from intelligent agents can influence individuals who make disciplinary decisions.

The authors’ results contribute to the ongoing debate on applying AI solutions to HR problems. The authors demonstrate that biased algorithms may substantially change how employees are treated and show that human conformity towards intelligent decision support systems is broader than expected.

The authors’ paper is among the first to show that people may accept recommendations that provoke moral dilemmas, bring adverse outcomes, or harm employees. The authors introduce the problem of “algorithmic conformism” and discuss its consequences for HRM.