What enables rapid economic progress: What are the needed institutions?

In recent years “institutions” have again become a central focus of economists and other scholars studying the processes of economic growth, and the reasons why nations have differed so greatly in their achievements on this front. However, with few exceptions the exploration of the role of institutions has not been connected with a coherent analysis of the relationships between institutions and institutional change and technological advance. This paper proposes a way of analyzing these relationships. The concept of “social technologies” which support “physical technologies” plays a key role in the analysis.     

What is novel about the Metaverse?

The Metaverse is not a radical departure. It is an incremental evolution. Previous virtual worlds, like Second Life, have laid the groundwork for the development of the Metaverse by providing valuable insights into virtual environments and social interactions. Studies of these earlier platforms contribute to a more nuanced understanding of what the Metaverse is, and what it is not. Based on studies of virtual worlds and by applying inductive processes of reflection and abstraction, we propose a framework that supports the identification of attributes that help differentiate the Metaverse from previous virtual worlds from a user experience perspective. We demonstrate the value of the framework by comparing the Metaverse to Second Life. Our framework and comparative analysis ground the current discussions about the Metaverse deeper in the established discourse on virtual worlds. They also shed light on the potential impact of the Metaverse, the special role of its immersiveness and help us to identify lessons learned that can inform the Metaverse's further development.     

What Is the Content of the World's Technologically Mediated Information and Communication Capacity: How Much Text,Image, Audio,and Video?

This article asks whether the global process of digitization has led to noteworthy changes in the shares of the amount of text, images, audio, and video in worldwide technologically stored and communicated information content. We empirically quantify the amount of information that is globally broadcast, telecommunicated, and stored (1986–2007) and assess the evolution of the respective content shares. Somewhat unexpectedly, it turns out that the transfer from analog to digital has not led to toward increasing shares of media-rich audio and video content, despite vastly increased bandwidth. First, there is a certain inertia in the evolution of content, which seems to stick to stable proportions independent of its technological medium (be it analog vinyl and VHS tapes, or digital CDs and hard disks). Second, the relative share of text and still images actually captures a larger portion of the total amount than before the digital age. Text merely represented 0.3% of the (optimally compressed) bits that flowed through global information channels in 1986 but grew to almost 30% in 2007. On another level, we are seeing an increasing transition of text and images from one-way information diffusion networks (like newspapers) to digital storage and two-way telecommunications networks, where they are more socially embedded. Both tendencies are good news for big-data analysts who extract intelligence from easily analyzable text and image data.     

What is the magnetic permeability of iron?

This paper is a review of the changes brought about in the magnetic properties of “iron” during the period 1870 to 1928 and shows the absurdity of using “iron” as a standard for comparison. The latest (1928) value for the initial permeability (μ₀) of “iron” is given as 1150, its maximum permeability (μ_max) as 61,000, and its hysteresis loss (W_h) as 300 ergs per cubic centimeter per cycle for B = 10,000 gausses. The corresponding values prior to 1900 were: μ₀ = 250 μ_max = 2600, W_h = 3,000.     

The state of innovation system research: What happens beneath the surface?

Since its emergence in the 1980s, the concept of “Innovation Systems” (IS) has inspired research and shaped discussions in academia and policy alike, leading to a cascading development of approaches and extensions at various analytic levels. IS research has expanded far beyond its initial focus by generating new knowledge within but also attracting increased attention from adjacent fields. As a result, the broad understanding of IS and its diversity in applications has resulted in blurry boundaries of the field, making its contemporary delineation, synthesis, and assessment of its progress challenging. Using a combination of data-driven techniques from bibliometrics, natural language processing, and network analysis, this paper maps and analyzes the structure of knowledge production and the process of knowledge integration in current research. We find an overall growing tendency toward increasing diversity in the knowledge bases from which the field draws, accompanied by a decreasing coherence of collective research efforts. We point to the crucial role of institutions and academic entrepreneurs in shaping these developments in interdisciplinary and diverse fields, illustrating this by the role of the Organisation for Economic Co-operation and Development (OECD).     

Managing complex engineering projects: What can we learn from the evolving digital footprint?

The challenges of managing large complex engineering projects, such as those involving the design of infrastructure, aerospace and industrial systems; are widely acknowledged. While there exists a mature set of project management tools and methods, many of today's projects overrun in terms of both time and cost. Existing literature attributes these overruns to factors such as: unforeseen dependencies, a lack of understanding, late changes, poor communication, limited resource availability (inc. personnel), incomplete data and aspects of culture and planning. Fundamental to overcoming these factors belies the challenge of how management information relating to them can be provided, and done so in a cost eff ;ective manner. Motivated by this challenge, recent research has demonstrated how management information can be automatically generated from the evolving digital footprint of an engineering project, which encompasses a broad range of data types and sources. In contrast to existing work that reports the generation, verification and application of methods for generating management information, this paper reviews all the reported methods to appraise the scope of management information that can be automatically generated from the digital footprint. In so doing, the paper presents a reference model for the generation of managerial information from the digital footprint, an appraisal of 27 methods, and a critical reflection of the scope and generalisability of data-driven project management methods. Key findings from the appraisal include the role of email in providing insights into potential issues, the role of computer models in automatically eliciting process and product dependencies, and the role of project documentation in assessing project norms. The critical reflection also raises issues such as privacy, highlights the enabling technologies, and presents opportunities for new Business Intelligence tools that are based on real-time monitoring and analysis of digital footprints.     

ICT Research,the New Economy,and the Evolving Discipline of Economics: Back to the Future?

Economics-related ICT research has moved from the fringes of the discipline to penetrate all of its branches. It is, therefore, not a separate economics subdiscipline. It is also unlikely to become part of an “ICT or Internet research” proto-discipline. Instead, it should be seen as only one part of a bigger agenda toward a proper “information and knowledge economics” and possibly a future proto-discipline of a “unified theory of information and knowledge” or a meta-discipline of information sciences.     

What Are the New Implications of Chaos for Unpredictability?

From the beginning of chaos research until today, the unpredictabilityof chaos has been a central theme. It is widely believed andclaimed by philosophers, mathematicians and physicists alikethat chaos has a new implication for unpredictability, meaningthat chaotic systems are unpredictable in a way that other deterministicsystems are not. Hence, one might expect that the question ‘Whatare the new implications of chaos for unpredictability?’has already been answered in a satisfactory way. However, thisis not the case. I will critically evaluate the existing answersand argue that they do not fit the bill. Then I will approachthis question by showing that chaos can be defined via mixing,which has never before been explicitly argued for. Based onthis insight, I will propose that the sought-after new implicationof chaos for unpredictability is the following: for predictingany event, all sufficiently past events are approximately probabilisticallyirrelevant.

1. Introduction
2. Dynamical Systems and Unpredictability

   2.1 Dynamical systems

   2.2 Natural invariant measures

   2.3Unpredictability

3. Chaos

   3.1 Defining chaos

   3.2 Definingchaos via mixing

4. Criticism of Answers in the Literature

   4.1 Asymptotic unpredictability?

   4.2 Unpredictability dueto rapid or exponential divergence?

   4.3 Macro-predictabilityand Micro-unpredictability?

5. A General New Implication ofChaos for Unpredictability

   5.1Approximate probabilistic irrelevance

   5.2 Sufficiently pastevents are approximately probabilisticallyirrelevant for predictions

6. Conclusion

     

Beyond user experience: What constitutes algorithmic experiences?

Algorithms are progressively transforming human experience, especially, the interaction with businesses, governments, education, and entertainment. As a result, people are growingly seeing the outside world, in a sense, through the lens of algorithms. Despite the importance of algorithmic experience (AX), few studies had been devoted to investigating the nature and processes through which users perceive and actualize the potential for algorithm affordance. This study proposes the Algorithm Acceptance Model to conceptualize the notion of AX as part of the analytic framework for human-algorithm interaction. It then tests how AX shapes the satisfaction with and acceptance of algorithm services. The results show that AX is inherently related to human understanding of fairness, transparency, and other conventional components of user-experience, indicating the heuristic roles of transparency and fairness regarding their underlying relations of user experience and trust. AX can influence the user perception of algorithmic systems in the context of algorithm ecology, offering useful insights into the design of human-centered algorithm systems. The findings provide initial and robust support for the proposed Algorithm Acceptance Model.     

From POTS to E-commerce: What Have the Developing Countries Learnt About Property Rights Over the Last 50 Years?

The challenge of electronic commerce is new to the developing world. Will this technology-driven initiative allow developing countries in Asia to leapfrog? Electronic commerce will trot or walk depending upon the property rights shaping its behaviour. The history of information infrastructural provision teaches us that efficient property rights can only be expected in rare circumstances, when the polity has a highly developed civil society and existing institutions produce restraint. Sequencing and the fit between domestic institutions and the types of property rights are important. Well-organized large user groups are clear winners from reforms, but universal service in countries like South Korea and Singapore resulted from state prerogatives. Three layers of an electronic commerce network along with five conditions of property rights efficiency are identified.