scholarly journals The Risk of Failure: Trial and Error Learning and Long-Run Performance

2019 ◽  
Vol 11 (1) ◽  
pp. 44-78 ◽  
Author(s):  
Steven Callander ◽  
Niko Matouschek
Keyword(s):  
Sufficient Conditions ◽  
Decision Makers ◽  
Risk Averse ◽  
Trial And Error ◽  
Improve Performance ◽  
Risk Of Failure ◽  
Long Run ◽  
Error Learning ◽  
And Performance ◽  
The Impact

Innovation is often the key to sustained progress, yet innovation itself is difficult and highly risky. Success is not guaranteed as breakthroughs are mixed with setbacks and the path of learning is typically far from smooth. How decision makers learn by trial and error and the efficacy of the process are inextricably linked to the incentives of the decision makers themselves and, in particular, to their tolerance for risk. In this paper, we develop a model of trial and error learning with risk averse agents who learn by observing the choices of earlier agents and the outcomes that are realized. We identify sufficient conditions for the existence of optimal actions. We show that behavior within each period varies in risk and performance and that a performance trap develops, such that low performing agents opt to not experiment and thus fail to gain the knowledge necessary to improve performance. We also show that the impact of risk reverberates across periods, leading, on average, to divergence in long-run performance across agents. (JEL D81, D83, O31, O38)

scholarly journals ANALISIS KINERJA PENURUNAN DEFORESTASI DI 10 IZIN HUTAN DESA KECAMATAN BATU AMPAR

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Denni Nurdwiansyah ◽  
Gusti Hardiansyah ◽  
Emi Roslinda
Keyword(s):  
Survey Method ◽  
Social Forestry ◽  
Improve Performance ◽  
Deforestation Rates ◽  
Long Run ◽  
The Social ◽  
And Performance ◽  
One Year ◽  
The Village ◽  
Forestry Programs

The effectiveness of devolution policies through social forestry programs in village forest schemes is still being debated at regional, national, and international levels. It departs from the fact that the community has limited resources in managing forests in the long run (35 years). The background of this research is to measure the implementation of devolution policy in 10 granted village forest licenses in the sub-district of Batu Ampar, Kubu Raya District, and its relationship with deforestation rates. The study was conducted by survey method and data collection with literature studies and observations. Observation aims to measure the biophysical condition of the forest as well as the social and economic conditions of the community in the village. The data is processed and analyzed using spatial analysis and performance analysis. The results showed that the devolution policy through the issuance of 10 village forest licenses was proven to be able to improve performance in reducing deforestation, especially after one year of the village forest permits were granted. Keywords: devolution, social forestry, village forest, deforestation, performance AbstrakEfektifitas kebijakan devolusi melalui program perhutanan sosial skema hutan desa masih menjadi perdebatan di level regional, nasional, dan internasional. Hal ini berangkat dari fakta keterbatasan sumber daya yang dimiliki masyarakat dalam mengelola hutan dalam jangka waktu panjang (35 tahun). Penelitian bertujuan untuk mengurai implementasi kebijakan devolusi di 10 izin hutan desa Kecamatan Batu Ampar, Kabupaten Kubu Raya, dan pengaruhnya terhadap laju deforestasi. Penelitian dilakukan dengan metode survei. Pengumpulan data dengan studi literatur dan observasi. Observasi bertujuan untuk mengetahui kondisi biofisik hutan serta kondisi sosial dan ekonomi masyarakat di desa. Data-data diolah dan dianalisis menggunakan analisis spasial dan analisis kinerja. Hasil penelitian menunjukan kebijakan devolusi melalui pemberian 10 izin hutan desa telah terbukti secara kumulatif mampu meningkatkan kinerja positif dalam penurunan deforestasi, terutama setelah satu tahun izin hutan desa diberikan.Kata kunci: devolusi, perhutanan sosial, hutan desa, deforestasi, kinerja

Using Modeling and Simulation Techniques to Improve the Accountability and the Performance of Human Resource Management

2018 ◽  
pp. 75-112
Author(s):  
Florea Nicoleta Valentina ◽  
Manea Marinela Daniela
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
Organizational Performance ◽  
Simulation Techniques ◽  
A Value ◽  
Long Run ◽  
Level Data ◽  
Strategic Role ◽  
And Performance ◽  
The Impact

The analysis of human resources function and its contribution to obtain performance dates back to the 1920s. Now, the HR is an equal partner on the board of the companies, having a strategic role in obtaining performance, thus we try to show that compensating appropriately, the human capital it will be motivated to obtain performance. This paper examines the two different visions of different managers in which the human capital is perceived as a major cost for organization and the others which perceive it as an investment on long run. In this article, we analyse the impact could have the direct costs of human capital on individual and organizational performance using samples of some variables from European level, data between 2005-2016. Data used for the different years were analysed using simulation methods. Findings of this study show consistency with the theory in the filed, bringing a value in motivation and accountability of human capital and performance obtained through human capital.

Risk Aversion and Unemployment in an Open Economy

2000 ◽  
Vol 49 (2) ◽  
Author(s):  
Pia Weiß
Keyword(s):  
Risk Aversion ◽  
Open Economy ◽  
Small Open Economy ◽  
Risk Behaviour ◽  
Terms Of Trade ◽  
Individual Risk ◽  
Risk Averse ◽  
Search Frictions ◽  
Long Run ◽  
The Impact

AbstractThe paper analyses the impact which risk aversion has on a small open economy characterised by search frictions on the labour market. It is shown that the long-run qualitative effects caused by a terms-of-trade shock are independent of individual risk behaviour. As far as quantitative aspects are concerned risk aversion always leads to higher equilibrium employment; however the increase in unemployment due to a price shock is the higher the more risk-averse individuals are.

scholarly journals Krise of quality education in the digital economy

2020 ◽  
Vol 36 (2) ◽  
pp. 214-226
Author(s):  
Sergei I. Dudnik ◽  
◽  
Вoris V. Маrkov ◽  
Keyword(s):  
Interpersonal Communication ◽  
Online Courses ◽  
Educational Process ◽  
Long Run ◽  
Educational Spaces ◽  
And Performance ◽  
The One ◽  
The Individual ◽  
Control And Management ◽  
The Impact

Today in the market of educational services, the winner is the one who wins in the fight for ratings.The question of cost and performance must be discussed in a broader context, namely to take into account that education is an essential part of social capital, which ensures success in international competition. Therefore, the savings on education in the long run leads to delays and loss of influence. Management, based on the digital divide is not a panacea. The article sets the task of analyzing the transformation of education in the digital age: 1) The identification of the causes of the crisis in the education system; secondly, the analysis of online courses as tools of modern educational spaces; 2) The impact of electronic educational technologies on the actors of the educational process; fourthly, the updating of teaching practices of meaning, based on understanding the individual learner and teacher; 3) For the development of the reflective experience of new educational programs they must be supplemented with hermeneutic and semiotic teaching techniques that contribute to understanding the meaning and provide live interpersonal communication; 4) Enhancement of the productivity of education through the introduction of digital technologies is accompanied by the strengthening of electronic control and management; 5) It is necessary to create a pedagogical atmosphere in which freedom, responsibility, trust, and friendship is cultivated.

Using Modeling and Simulation Techniques to Improve the Accountability and the Performance of Human Resource Management

2019 ◽  
pp. 137-166
Author(s):  
Florea Nicoleta Valentina ◽  
Manea Marinela Daniela
Keyword(s):  
Human Capital ◽  
Human Resources ◽  
Organizational Performance ◽  
Simulation Techniques ◽  
A Value ◽  
Long Run ◽  
Level Data ◽  
Strategic Role ◽  
And Performance ◽  
The Impact

The analysis of human resources function and its contribution to obtain performance dates back to the 1920s. Now, the HR is an equal partner on the board of the companies, having a strategic role in obtaining performance, thus we try to show that compensating appropriately, the human capital it will be motivated to obtain performance. This paper examines the two different visions of different managers in which the human capital is perceived as a major cost for organization and the others which perceive it as an investment on long run. In this article, we analyse the impact could have the direct costs of human capital on individual and organizational performance using samples of some variables from European level, data between 2005-2016. Data used for the different years were analysed using simulation methods. Findings of this study show consistency with the theory in the filed, bringing a value in motivation and accountability of human capital and performance obtained through human capital.

Comparison of Risk Aversity for Two Utility Functions on ℝ2

2019 ◽  
Vol 23 (3) ◽  
pp. 555-560
Author(s):  
Yuji Yoshida ◽  
Keyword(s):  
Decision Making ◽  
Sufficient Conditions ◽  
Utility Functions ◽  
Decision Makers ◽  
The Other ◽  
Necessary Condition ◽  
Risk Averse ◽  
Two Dimensional ◽  
Arithmetic Means

Utility functions on two-dimensional regions are demonstrated for decision makers’ risk averse behavior by weighted quasi-arithmetic means. For two utility functions on two-dimensional regions, a concept is introduced that decision making with one utility is more risk averse than decision making with the other utility. A necessary condition and sufficient conditions for the concept are demonstrated by their utility functions.

A Contingency Approach to Knowledge Management

2016 ◽  
Vol 12 (1) ◽  
pp. 31-44 ◽  
Author(s):  
Meliha Handzic ◽  
Kursad Ozlen ◽  
Nermina Durmic
Keyword(s):  
Knowledge Management ◽  
Field Survey ◽  
Decision Makers ◽  
Superior Performance ◽  
Different Types ◽  
And Performance ◽  
Contingency View ◽  
The Impact ◽  
Best Fit ◽  
Contingency Approach

A contingency perspective of knowledge management recognises the need for a fit between knowledge management solutions (KMS) and decision making contexts which they support. In order to determine the best fit, a field survey was carried out to investigate the impact of two different types of KMS (technical and social) on decision makers' behaviour and performance in different decision contexts (simple and complex). The results provide partial support for the contingency view. As expected, the study identified social KMS as the best fit for complex contexts, based on subjects' superior performance from comparable adoption of both KMS. In contrast, the study identified that both KMS were an equally good fit for simple contexts, based on similar levels of subjects' performance, but social KMS was preferred in terms of adoption. These findings contribute to much needed empirical evidence for research and provide useful guidance for practice. However, their limitations warrant further study.

scholarly journals Financial stability and supervisory cooperation (SSM in Eurozone – Banking supervisory cooperation in Egypt)

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Salwa Abdelaziz ◽  
Mariam Wagdy Francis
Keyword(s):  
Financial Stability ◽  
Qualitative Method ◽  
Financial Instability ◽  
Banking Supervision ◽  
Content Type ◽  
Single Supervisory Mechanism ◽  
Long Run ◽  
And Performance ◽  
Regional Authorities ◽  
The Impact

PurposeThis study aims to analyze the impact of cooperation between banking supervisory entities on maintaining financial stability, using Single Supervisory Mechanism evolution and performance as instance. Then banking supervisory cooperation and financial stability in Egypt are reviewed.Design/methodology/approachThe qualitative method is used to study and analyze the practices that contributed to financial instability and raised the need for supervisory cooperation. Descriptive qualitative method is used to study the interrelations between supervisory authorities on various levels and its impact on financial stability.FindingsFindings show that maintaining financial stability through strong, consistent complete or semi unified supervisory framework faces challenges. Providing cooperation between different supervisory authorities, effective information sharing, gained experience in the long run contributes to financial stability.Originality/valueThe originality of this research paper arises from the fact that it encompasses the academic aspect through interpreting the developments that occurred to the cooperation in banking supervision in relation to the financial instability times in the Eurozone that led to the establishment of Single Supervisory mechanism, and the challenges it faced. The supervisory cooperation in Egypt is studied as well at international, regional levels and its role in contributing to financial stability. To the best of the authors' knowledge this is the first study that studies the banking supervisory cooperation between Egyptian supervisory authorities and other international and regional authorities.

A Contingency Perspective for Knowledge Management Solutions in Different Decision-Making Contexts

2021 ◽  
pp. 1242-1257
Author(s):  
Kursad Ozlen ◽  
Meliha Handzic
Keyword(s):  
Decision Making ◽  
Knowledge Management ◽  
Decision Makers ◽  
Superior Performance ◽  
Partial Support ◽  
Contingency Perspective ◽  
And Performance ◽  
Contingency View ◽  
The Impact ◽  
Best Fit

A contingency perspective of knowledge management, as one of the popular ways of promoting decision making capabilities, recognizes the need for a fit between knowledge management solutions (KMS) and decision-making contexts which they support. In order to determine the best fit, a field survey was carried out to investigate the impact of two different types of KMS (technical and social) on decision makers' behavior and performance in different decision contexts (simple and complex). According to the results, there is a partial support for the contingency view. As expected, social KMS appears as the best fit for complex contexts, based on subjects' superior performance from comparable adoption of both KMS. In contrast, the results suggest that both KMS were an equally good fit for simple contexts, based on similar levels of subjects' performance, but social KMS was preferred in terms of adoption. These findings contribute to much necessary empirical evidence for research and provide useful guidance for practice. However, their limitations necessitate further study.

A Contingency Perspective for Knowledge Management Solutions in Different Decision-Making Contexts

2019 ◽  
pp. 62-77
Author(s):  
Kursad Ozlen ◽  
Meliha Handzic
Keyword(s):  
Decision Making ◽  
Knowledge Management ◽  
Decision Makers ◽  
Superior Performance ◽  
Partial Support ◽  
Contingency Perspective ◽  
And Performance ◽  
Contingency View ◽  
The Impact ◽  
Best Fit

A contingency perspective of knowledge management, as one of the popular ways of promoting decision making capabilities, recognizes the need for a fit between knowledge management solutions (KMS) and decision-making contexts which they support. In order to determine the best fit, a field survey was carried out to investigate the impact of two different types of KMS (technical and social) on decision makers' behavior and performance in different decision contexts (simple and complex). According to the results, there is a partial support for the contingency view. As expected, social KMS appears as the best fit for complex contexts, based on subjects' superior performance from comparable adoption of both KMS. In contrast, the results suggest that both KMS were an equally good fit for simple contexts, based on similar levels of subjects' performance, but social KMS was preferred in terms of adoption. These findings contribute to much necessary empirical evidence for research and provide useful guidance for practice. However, their limitations necessitate further study.

Sign in / Sign up

Export Citation Format

Share Document