Despite the fact that it could help to overcome the current global financial crisis, the concept of open innovation is only very scarcely applied in the financial services sector. This international literature review covering the past decade provides an overview of the relevant body of literature on this topic. Two questions represent the starting point of this work: (1) Why is open innovation so scarcely applied in the banking, wealth management and insurance industries? and (2) Should the financial services sector use open innovation more widely? Our findings show that various organizational factors as well as monetary reasons prevent financial services companies from applying open innovation processes. Yet, by taking into account the potential benefits that the concept of open innovation may yield, this approach should indeed be applied more widely in the financial services industry.
In this paper, we test for scope effects in Contingent Valuation applying different distributional assumptions for WTP, a non-parametric estimation and an estimation based on an open-ended format. Mean WTP is sensitive to the distributional assumption, but so is the scope effect. The nonparametric model, without conditions on the distribution, is the best able to identify scope effects. More sophisticated models, such as the spike model, and open-ended follow-up question give more information about individual WTP and are thus more powerful in revealing scope effects. For small sample size, a non-parametric analysis, a spike model or an open-ended format may therefore be better than the classical parametric dichotomous choice analysis to identify scope effects.
Long-term care (LTC) is the largest insurable risk facing the elderly in most western societies. Paradoxically, institutional responses to the need to insure ex-ante (before the contingency occurs) the financial risks of needing LTC (by means of social and private insurance and self-insurance) exhibit limited development. In contrast, mechanisms to finance LTC ex-post continue to develop, primarily those supported by the public sector (by means of subsidies or tax deductions) and the family (by means of intergenerational transfers). Both ex-ante and ex-post types of financing mechanisms are found to be subject to shortcomings which give rise to dilemmas for public policy. Governments confront these dilemmas in different ways, causing a great deal of heterogeneity in the financing and provision of LTC services across Europe.
In a supply chain, the importance of information elicitation from the supply chain players is vital to design supply chain network. The rationality and self-centredness of these players causes the information asymmetry in the supply chain and thus situation of conflict and non-participation of the players in the network design process. The supply chain players’ non-participation or reluctance to participate in supply chain contract is due to the dynamics of the system evolving with many competitive players in supply chain. In this paper, a game theoretical dynamic pricing model has been proposed to elicit the information from the players. With the objective of maximizing the social utility, efforts have been made to value behavioural issues of supply chain. On the other hand, the reluctance of player due to the information asymmetry is measured in the form of inertia experienced by the players due to anxiety and dynamics in the market. Distinguishing cases based on level of risk and variety of product are considered to show the effect of inertia on social utility and corresponding output for each echelon of supply chain. The paper provides supply chain managers an efficient decision making ability to achieve conflict-free outcome with the maximum utility.
Inevitably, healthcare goes pervasive, yet its many potential future scenarios are still to be defined. We employ foresight techniques to define some of these scenarios, as relevant for the current and future state of healthcare in Geneva, Switzerland. We teach the methodology to undergraduate business administration students – potential e.g., managers and policymakers in the future healthcare system of Geneva. Our objective is twofold: to train students at scenario building and to develop scenarios for pervasive healthcare technologies and their social implications. Results include scenarios developed by the students as well as lessons learned with respect to the power of foresight techniques employed with novices in this field.
Nous étudions le lien entre l’engagement durable et social des entreprises (RSE) et leur performance, tout d’abord par une analyse de la recherche dans le domaine, suivie d’une étude qualitative de ce lien sous la forme d’interview de gestionnaires de fonds en Suisse. Nous trouvons que le lien positif entre la performance des entreprises et leur engagement RSE n’est prouvé et perçu que dans certain contextes. D’autre part, il semblerait que les investisseurs n’attendent pas forcément une performance plus importante, mais une neutralité, c’est-à-dire que la RSE ne nuise pas à la performance. Ils seraient ainsi prêts à investir de préférence dans les entreprises qui créent le plus de valeur dans les objectifs non financiers. Un autre résultat important est que la RSE serait difficile à évaluer de nos jours par les investisseurs « traditionnels », principalement due au manque d’information récente et pertinente sur la RSE des entreprises. La nécessité de faire leur propre recherche crée une certaine barrière, un coût additionnel, que tous les investisseurs ne veulent pas dépasser ou assumer compte tenu de l’absence de gain attendu sur la performance de leurs portefeuilles.
The aim of this work is to review the literature on full truck load transportation service procurement and identify the gaps from the points of view of researchers and practitioners. Full truck load procurement is particularly considered for review since it is encountered more in freight movement than others forms and also it has many challenges. A framework is developed to have a systematic review of literature and the findings are discussed in detail. Some key findings include the simplistic assumption of demand pattern, less focus on nonprice variables, a limited number of case studies, a lesser consideration of sustainability aspects and the lack of detailed studies on emerging economies.
In this article, we discuss a numerical method for the computation of the minimal and maximal solutions of a steady scalar Eikonal equation. This method relies on a penalty treatment of the nonlinearity, a biharmonic regularization of the resulting variational problem, and the time discretization by operator-splitting of an initial value problem associated with the Euler-Lagrange equations of the regularized variational problem. A low-order finite element discretization is advocated since it is well-suited to the low regularity of the solutions. Numerical experiments show that the method sketched above can capture efficiently the extremal solutions of various two-dimensional test problems and that it has also the ability of handling easily domains with curved boundaries.
