Related papers: Never-ending Search for Innovation
In this paper, we analyze examples of research institutes that stand out in scientific excellence and social impact. We define key practices for evaluating research results, economic conditions, and the selection of specific research…
A growing literature has examined whether innovation is becoming less disruptive, spanning diverse domains and data sources and using a range of methodologies. This paper provides an inventory of 105 studies exploring this question. The…
With the rapid development of recommender systems, accuracy is no longer the only golden criterion for evaluating whether the recommendation results are satisfying or not. In recent years, diversity has gained tremendous attention in…
We study a dynamic model of information provision. A state of nature evolves according to a Markov chain. An informed advisor decides how much information to provide to an uninformed decision maker, so as to influence his short-term…
Startups face a classic dilemma in innovation strategy: should they pursue cumulative, low-risk improvements or disruptive, high-risk breakthroughs? The Henderson and Clark framework suggests that architectural innovation, which…
Within a search session users often apply different search terms, as well as different variations and combinations of them. This way, they want to make sure that they find relevant information for different stages and aspects of their…
Information retrieval (IR) systems need to constantly update their knowledge as target objects and user queries change over time. Due to the power-law nature of linguistic data, learning lexical concepts is a problem resisting standard…
One key challenge in talent search is how to translate complex criteria of a hiring position into a search query. This typically requires deep knowledge on which skills are typically needed for the position, what are their alternatives,…
We introduce a new class of forward performance processes that are endogenous and predictable with regards to an underlying market information set and, furthermore, are updated at discrete times. We analyze in detail a binomial model whose…
The classical optimal investment and consumption problem with infinite horizon is studied in the presence of transaction costs. Both proportional and fixed costs as well as general utility functions are considered. Weak dynamic programming…
Seed fundraising for ventures often takes place by sequentially approaching potential contributors, who make observable decisions. The fundraising succeeds when a target number of investments is reached. Though resembling classic…
There is no free lunch, no single learning algorithm that will outperform other algorithms on all data. In practice different approaches are tried and the best algorithm selected. An alternative solution is to build new algorithms on demand…
We develop a complete analysis of a general entry-exit-scrapping model. In particular, we consider an investment project that operates within a random environment and yields a payoff rate that is a function of a stochastic economic…
Over the last 10 years, there has been a growing interest in diversity in human capital. Fueled by the business case for diversity, there is an increasing interest in understanding how the combination of people with different backgrounds…
Sequential Bayesian experimental design typically assumes that the number of experiments is fixed before data collection begins. In practical campaigns, however, experimentation may need to terminate early because additional measurements…
We combine forward investment performance processes and ambiguity averse portfolio selection. We introduce the notion of robust forward criteria which addresses the issues of ambiguity in model specification and in preferences and…
The rapid evolution of artificial intelligence has led to expectations of transformative impact on science, yet current systems remain fundamentally limited in enabling genuine scientific discovery. This perspective contends that progress…
We reconstruct the innovation dynamics of about two hundred thousand companies by following their patenting activity for about ten years. We define the technological portfolios of these companies as the set of the technological sectors…
We prove the strong consistency and the asymptotic normality of the maximum likelihood estimator of the parameters of a general conditionally heteroscedastic model with $\alpha$-stable innovations. Then, we relax the assumptions and only…
Sequential auctions for identical items with unit-demand, private-value buyers are common and often occur periodically without end, as new bidders replace departing ones. We model bidder uncertainty by introducing a probability that a…