The Impact of Technological Change on Incentive Provision

2009 ◽  
pp. 5-36
Author(s):  
Maurizio Lisciandra
Keyword(s):  
Technological Change ◽  
New Technology ◽  
Agency Problem ◽  
Optimal Solution ◽  
Jel Classification ◽  
High Rate ◽  
Incentive Pay ◽  
Iron And Steel ◽  
Piece Rate ◽  
The Impact

- The simple trade-off between incentive and risk, which is crucial to the agency problem, is not a sufficient explanation for the ineffectiveness of a specific output-related pay such as the contract system adopted in the US iron and steel industry during the second half of the nineteenth-century. The high rate of technological innovation along with workers' extensive bargaining power made output-related pay a sub-optimal solution. This stylised fact unveils the conflicting nature of piece-rate pay compared to fixed pay as new technology is introduced and stimulates an analysis of the interaction between technological change, bargaining powers, and payment systems which can be conducive to a better understanding of the agency problem and the use of incentive pay. Key words: Incentive Contracts, Inside Contracting, Unions, Technological Change. JEL Classification: J33, J51, N31, O33

Development of Reduced Rolling Process for Steel Plate

2012 ◽  
Vol 706-709 ◽  
pp. 2101-2106
Author(s):  
Xiu Hua Gao ◽  
Hui Fang Lan ◽  
Lin Xiu Du ◽  
Chun Lin Qiu
Keyword(s):  
Low Cost ◽  
New Technology ◽  
Rolling Process ◽  
Steel Plates ◽  
High Rate ◽  
Iron And Steel Industry ◽  
Iron And Steel ◽  
Heavy Plate ◽  
New Type ◽  
Microstructure And Mechanical Property

The low cost Q460 and Q550 steel plates were produced in the 4200mm wide and heavy plate mill using Normal Hot Rolling and High Rate Cooling (NHR+HRC) process. The effect of both rolling processes on microstructure and mechanical property was studied. The results indicate that new type process can realize the good match between microstructure and mechanical properties. Meanwhile the new technology can short rolling time, reduce alloying addition, and improve the output of mill, it is also promote iron and steel industry developing continuously.

Health Reform and Technological Change: Shifting Hospitalization Patterns for Four Procedures in Manitoba

2000 ◽  
Vol 13 (1) ◽  
pp. 15-21 ◽  
Author(s):  
Ruth-Ann Soodeen ◽  
Leslie L. Roos ◽  
Sandra Peterson
Keyword(s):  
Hernia Repair ◽  
Technological Change ◽  
Health Reform ◽  
New Technology ◽  
Reform Initiatives ◽  
Readmission Rates ◽  
Health Reforms ◽  
Technological Advances ◽  
Hospital Stays ◽  
The Impact

This study used Manitoba data from 1991 to 1996 to assess the effects of health reforms and technological advances on hospitalization patterns, patient mortality, and readmission rates. Cholecystectomy and hernia repair served as indicators of response to both new technology and health reforms, while appendectomy and hysterectomy helped gauge the impact of health reforms alone. Neither the introduction of new technology (i.e. laparoscopy) nor the health reform initiatives (i.e. shorter hospital stays) adversely affected surgical volumes, postsurgical mortality, or postsurgical readmissions.

The Psychological Impact of New Technologies: Anticipation of Stress

1989 ◽  
Vol 33 (13) ◽  
pp. 811-815
Author(s):  
Charles M. Slem ◽  
Daniel J. Levi ◽  
Andrew Young
Keyword(s):  
Technological Change ◽  
New Technologies ◽  
Job Insecurity ◽  
New Technology ◽  
Psychological Impact ◽  
Role Overload ◽  
Reduction In Force ◽  
Organizational Benefits ◽  
The Impact ◽  
The Relationship

Slem, Levi and Young (1986) developed a model of the psychological impact of technological change on the workforce. The purpose of current research was to investigate the relationship between stress and technological change. The “Impact of Technological Change Survey” was administered to workers in five large electronics manufacturing corporations. Almost one-third of the workforce believed that technological change would make the individual's job more stressful. Over 20% were worried about the future of their jobs. Anticipated role conflict, role ambiguity, and quantitative role overload produced the strongest and most consistent relationships with the global measure of stress. Qualitative role overload and beliefs about reduction in force were more closely allied to job insecurity stress. Anticipated stress is reduced somewhat when technological change is seen as providing personal and organizational benefits or when the organization is perceived as effectively dealing with the transition to the new technology.

Leapfrogging, Cannibalization, and Survival During Disruptive Technological Change: The Critical Role of Rate of Disengagement

2020 ◽  
pp. 002224292096791
Author(s):  
Deepa Chandrasekaran ◽  
Gerard J. Tellis ◽  
Gareth M. James
Keyword(s):  
Technological Change ◽  
New Technologies ◽  
New Technology ◽  
Critical Role ◽  
High Rate ◽  
Individual Level ◽  
Level Data ◽  
Technological Leapfrogging ◽  
Low Rate

When faced with new technologies, the incumbents’ dilemma is whether to embrace the new technology, stick with their old technology, or invest in both. The entrants’ dilemma is whether to target a niche and avoid incumbent reaction or target the mass market and incur the incumbent’s wrath. The solution is knowing to what extent the new technology cannibalizes the old one or whether both technologies may exist in tandem. The authors develop a generalized model of the diffusion of successive technologies, which allows for the rate of disengagement from the old technology to differ from the rate of adoption of the new. A low rate of disengagement indicates people hold both technologies (coexistence), whereas a high rate of disengagement indicates they let go of the old technology in favor of the new (cannibalization). The authors test the validity of the model using a simulation of individual-level data. They apply the model to 660 technology pairs and triplets–country combinations from 108 countries spanning 70 years. Data include both penetration and sales plus important case studies. The model helps managers estimate evolving proportions of segments that play different roles in the competition between technologies and predict technological leapfrogging, cannibalization, and coexistence.

Appraising the Development Potential of Ekofisk Over Tor Formation in the Halfdan Field, using a Multi-Disciplinary Approach to Well Planning and Applying Advances in Technology to Enhance Well Placement, Completion, Productivity and Recovery

2021 ◽  
Author(s):  
Anton Andreev ◽  
Michael Pitts ◽  
Andrew Hoover ◽  
Eyad Mohamed Elhassan ◽  
Felix Sebastian Bexkens ◽  
...  
Keyword(s):  
North Sea ◽  
New Technology ◽  
Seismic Signal ◽  
High Rate ◽  
Target Zone ◽  
Injection Wells ◽  
Well Placement ◽  
Horizontal Drain ◽  
4D Seismic ◽  
The Impact

Abstract Demonstrating a viable development for the Ekofisk reservoir directly above the producing Tor reservoir in the Halfdan Field (Danish North Sea) has historically been challenging. A recent well shows the value of cross-disciplinary collaboration and new technology to maximize recovery and mitigate reservoir and drilling risks. Specifically, 4D seismic was utilized when planning the well, while placement was optimized by using advanced geosteering tools. Well optimization was further enhanced by adopting novel completion and stimulation technologies. Pressure data and 4D seismic show that Tor and Ekofisk are in dynamic communication, but the degree of communication varies locally. The integration of 4D seismic with other disciplines’ input succeeded in optimizing the well placement and narrowed the significant pore pressure uncertainty along the 12,000-ft reservoir section. To maximize well length within the target zone and reduce the risk of being faulted out of the target reservoir deep resistivity was used to steer the well in the optimal layers. This contributed to 99% of the reservoir section being placed in the target zone. Lessons learnt from an earlier appraisal well and modest production experience in this part of the Ekofisk reservoir helped to justify the choice of selective completion zones (Sliding Side Door) in the inner part of the horizontal drain in order to minimize the impact of potential water or premature water breakthrough from high-rate injection wells located in the underlying Tor reservoir. This decision was validated after drilling the inner part of the well, where water-swept zones were encountered in the heel, followed by a long gas pay zone in line with 4D seismic signal in the remainder of the inner well section. To mitigate the risk of an unwanted fracture connection and increase contact with the tight oil-saturated reservoir, a novel stimulation and completion technology was successfully deployed in the outer 6-inch open-hole section of the well. The acid needles completion, deployed across a 3,000-ft reservoir interval and comprising 224 needles deployed by pumping acid, was the first installation of its kind in the Danish North Sea. For the acid needles completion, this installation holds two distinctions: the largest number of acid needles installed in a well, and the combination of the acid needles completion with a different completion system in a single lateral for the first time.

scholarly journals The Impact of Institutional Credit on Agricultural Production in Pakistan

2003 ◽  
Vol 42 (4II) ◽  
pp. 469-485 ◽  
Author(s):  
Muhammad Iqbal ◽  
Munir Ahmad ◽  
Kalbe Abbas
Keyword(s):  
Rural Communities ◽  
Technological Change ◽  
Technical Efficiency ◽  
Agricultural Development ◽  
New Technology ◽  
Developed Countries ◽  
Modern Technology ◽  
Credit System ◽  
Agricultural Credit ◽  
The Impact

Three main factors that contribute to agricultural growth are the increased use of agricultural inputs, technological change and technical efficiency. Technological change is the result of research and development efforts, while technical efficiency with which new technology is adopted and used more rationally is affected by the flow of information, better infrastructure, availability of funds and farmers’ managerial capabilities. Higher use and better mix of inputs also requires funds at the disposal of farmers. These funds could come either from farmers’ own savings or through borrowings. In less developed countries like Pakistan where savings are negligible especially among the small farmers, agricultural credit appears to be an essential input along with modern technology for higher productivity. Credit requirements of the farming sector have increased rapidly over the past few decades resulting from the rise in use of fertiliser, biocides, improved seeds and mechanisation, and hike in their prices. The agricultural credit system of Pakistan consists of informal and formal sources of credit supply. The informal sources include friends, relatives, commission agents, traders and private moneylenders etc. Presently, the formal credit sources are comprised of financial institutions like Zarai Taraqiati Bank Limited (ZTBL)—formerly known as Agricultural Development Bank of Pakistan (ADBP), Commercial Banks, and Federal Bank for Cooperatives. Recently, some non-government organisations (NGOs) are also advancing agricultural credit to the rural communities.

scholarly journals Towards Electronic Democracy: The Impact of Technological Change on the Official Information Act 1982

2008 ◽  
Vol 34 (3) ◽  
pp. 609
Author(s):  
Jessica White
Keyword(s):  
Technological Change ◽  
Central Government ◽  
New Technology ◽  
Government Information ◽  
Educational Approach ◽  
Law And Policy ◽  
Electronic Democracy ◽  
Information Management Systems ◽  
The Impact ◽  
Official Information

The paper considers the impact of recent technological advancements on the law and policy of the Official Information Act 1982. As the capacity and potential of technology increases, the ability to store, retrieve, and disseminate information could add immense value to the purposes and operation of the Act. However, there are two substantial difficulties with the technological changes. First, there are insufficient efforts to improve access to technology for certain segments of society. Second, co-ordination between initiatives to improve government information management systems have so far proved ineffective. These two problems pose substantial threats to the usefulness of the new technology. Consequently, the paper concludes by recommending that a co-ordinated, educational approach led by central government will ensure that the Act's benefits for citizens are enhanced by technological change, rather than undermined by it.

Is technological change a devourer of jobs?

2017 ◽  
pp. 111-140 ◽  
Author(s):  
R. Kapeliushnikov
Keyword(s):  
Technological Change ◽  
Critical Analysis ◽  
New Technologies ◽  
Employment Growth ◽  
Foreseeable Future ◽  
Employment Effects ◽  
Technological Unemployment ◽  
Micro Level ◽  
Task Sets ◽  
The Impact

The paper provides a critical analysis of the idea of technological unemployment. The overview of the existing literature on the employment effects of technological change shows that on the micro-level there exists strong and positive relationship between innovations and employment growth in firms; on the sectoral level this correlation becomes ambiguous; on the macro-level the impact of new technologies seems to be positive or neutral. This implies that fears of explosive growth of technological unemployment in the foreseeable future are exaggerated. Our analysis further suggests that new technologies affect mostly the structure of employment rather than its level. Additionally we argue that automation and digitalisation would change mostly task sets within particular occupations rather than distribution of workers by occupations.

The Process of Globalization and Its Impact on Media

2016 ◽  
Vol 1 (4) ◽  
pp. 150
Author(s):  
Veton Zejnullahi
Keyword(s):  
New Technology ◽  
World Order ◽  
Modern Society ◽  
Media Access ◽  
Four Corners ◽  
The World ◽  
The Media ◽  
The Republic ◽  
Human Eyes ◽  
The Impact

The process of globalization, which many times is considered as new world order is affecting all spheres of modern society but also the media. In this paper specifically we will see the impact of globalization because we see changing the media access to global problems in general being listed on these processes. We will see that the greatest difficulties will have small media as such because the process is moving in the direction of creating mega media which thanks to new technology are reaching to deliver news and information at the time of their occurrence through choked the small media. So it is fair to conclude that the rapid economic development and especially the technology have made the world seem "too small" to the human eyes, because for real-time we will communicate with the world with the only one Internet connection, and also all the information are take for the development of events in the four corners of the world and direct from the places when the events happen. Even Albanian space has not left out of this process because the media in the Republic of Albania and the Republic of Kosovo are adapted to the new conditions under the influence of the globalization process. This fact is proven powerful through creating new television packages, written the websites and newspapers in their possession.

The impact of applying the Common Customs Tariff on the armenian export of Cut and Polished Gems to Russia

2019 ◽  
pp. 33-41
Author(s):  
V. L. Harutyunyan ◽  
S. V. Dokholyan ◽  
A. R. Makaryan
Keyword(s):  
Manufacturing Sector ◽  
Practical Implication ◽  
Dominant Role ◽  
New Technology ◽  
Manufacturing Companies ◽  
Medium Term ◽  
Diamond Cutting ◽  
Global Trends ◽  
The Common ◽  
The Impact

The presented study discusses the issues of applying the Common Customs Tariff (CCT) rates of the Eurasian Economic Union (EAEU) on rough diamonds and the impact thereof on the exports of stones cut and polished inArmeniaand then exported toRussia.Aim. The study aims to identify the possible strategies Armenian diamond cutting and polishing companies could adopt as a response to the application of the CCT rates on rough diamonds and how it would affect exports to various destinations, namely to Russia.Tasks. The authors analyze the current state of the gems and jewelry sector and substantiate the need to either integrate it into the jewelry manufacturing sector or to apply various strategies to facilitate exports to either Russia or other destinations in the medium term in response to the application of the CCT rates.Methods. This study uses general scientific methods of cognition, including analytical and methodological approaches and elements of forecasting. Possible strategies the Armenian diamond cutting and polishing companies could adopt in the medium term in response to the application of the EAEU CCT rates are determined using the analytical research method, forecasts in the context of the developments in the Armenian gem processing and jewelry market and global trends, statistical data on the imports and exports of cut and polished gems and jewelry for 2014–2018 published by the UN Comtrade Statistics.Results. Statistics on the exports of processed diamonds from 2014 to 2018 highlights the issue associated with the loss of competitiveness suffered by Armenian companies (mainly in comparison with Indian diamond cutters). The major global trends in the diamond cutting and polishing business indicate that it could be virtually impossible for Armenian cutters and polishers to compete with Indian companies in the medium term if they do not comes to investing in new technology to achieve operational efficiency. For these companies, it is important not to lose the Russian market due to an increase in the tariff rate and concentrate on the processing of gems that are larger than 1 carat. Another strategy to avoid an increase in the customs tariff rates would depend on the Armenian government’s ability to negotiate with Russia in respect of direct imports of diamond stones from Russian manufactures. Two other options for Armenian cutters involve focusing on cutting and polishing of rubies, sapphires, emeralds, etc. or integrating into the jewelry sector either by being the primary supplier or by considering this business as a channel to sell processed diamond stones by setting up their own jewelry manufacturing companies.Conclusions. With CCT going into effect in January 2021 and India’s dominant role in the diamond cutting and polishing business, Armenia needs to carefully consider all of the strategies the Armenian companies could adopt, as discussed above. As a member state of the EAEU, Armenia freely exports to Russia, however, further exports to Russia would depend on Armenia’s ability to ensure that cost-effective operations are in place, or to concentrate on the processing of precious gems rather than diamonds, or to switch to the manufacturing of jewelry items as a major export item.Practical Implication. The findings of this study could be of interest to the Ministry of Economy of the Republic of Armenia and Business Armenia that could be used in elaborating the strategy for the development of Armenian gems and jewelry sector of the economy.

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