This book looks at the complexity of knowledge. It takes into account diverse disciplines such as economics, social sciences, international business, and organization studies. The authors focus on knowledge internationally from a macro to a more micro level, from the state to households, from knowledge production to knowledge consumption, lifting the veil on knowledge complexities. By making the complexities more transparent, the authors enrich readers' understanding and illuminate their perception of knowledge as a key factor in the development of the twenty-first century world.

The book features eight studies related to governance and risk. It provides a critical evaluation of Basel II, and questions the significance of corruption in country risk analysis and investors' decision making. It offers a reliable model of early warning credit signals that helps managers to detect default risks, and provides a risk-based analysis of alternative production systems in Pakistan. It analyzes the effects of market liberalization on volatility spill-over across the globe, and examines past and future prospects for the Iraqi stock exchange. Finally, it proposes securitization as a means to finance costs of reconstruction in Iraq.

This highly praised introductory treatment describes the parallels between statistical physics and finance - both those established in the 100-year long interaction between these disciplines, as well as new research results on financial markets.

The random-walk technique, well known in physics, is also the basic model in finance, upon which are built, for example, the Black-Scholes theory of option pricing and hedging, plus methods of portfolio optimization. Here the underlying assumptions are assessed critically. Using empirical financial data and analogies to physical models such as fluid flows, turbulence, or superdiffusion, the book develops a more accurate description of financial markets based on random walks. With this approach, novel methods for derivative pricing and risk management can be formulated. Computer simulations of interacting-agent models provide insight into the mechanisms underlying unconventional price dynamics. It is shown that stock exchange crashes can be modelled in ways analogous to phase transitions and earthquakes, and sometimes have even been predicted successfully.

This third edition of "The Statistical Mechanics of Financial Markets" especially stands apart from other treatments because it offers new chapters containing a practitioner's treatment of two important current topics in banking: the basic notions and tools of risk management and capital requirements for financial institutions, including an overview of the new Basel II capital framework which may well set the risk management standards in scores of countries for years to come.

Progress in collaborative networks continues showing a growing number of manifestations and has led to the acceptance of Collaborative Networks (CN) as a new scientific discipline. Contributions to CN coming from multiple reference disciplines has been extensively investigated. In fact developments in CN have benefited from contributions of multiple areas, namely computer science, computer engineering, communications and networking, management, economy, social sciences, law and ethics, etc. Furthermore, some theories and paradigms defined elsewhere have been suggested by several research groups as promising tools to help define and characterize emerging collaborative organizational forms. Although still at the beginning of a long way to go, there is a growing awareness in the research and academic world, for the need to establish a stronger theoretical foundation for this new discipline and a number of recent works are contributing to this goal. From a utilitarian perspective, agility has been pointed out as one of the most appealing characteristics of collaborative networks to face the challenges of a fast changing socio-economic context. However, during the last years it became more evident that finding the right partners and establishing the necessary preconditions for starting an effective collaboration process are both costly and time consuming activities, and therefore an inhibitor of the aimed agility. Among others, obstacles include lack of information (e.g. non-availability of catalogs with normalized profiles of organizations) and lack of preparedness of organizations to join the collaborative process. Overcoming the mismatches resulting from the heterogeneity of potential partners (e.g. differences in infrastructures, corporate culture, methods of work, and business practices) requires considerable investment. Building trust, a pre-requisite for any effective collaboration, is not straight forward and requires time. Therefore the effective creation of truly dynamic collaborative networks requires a proper context in which potential members are prepared to rapidly get engaged in collaborative processes. The concept of breeding environment has thus emerged as an important facilitator for wider dissemination of collaborative networks and their practical materialization. The PRO-VE'05 held in Valencia, Spain, continues the 6th event in a series of successful working conferences on virtual enterprises. This book includes selected papers from that conference and should become a valuable tool to all of those interested in the advances and challenges of collaborative networks.

Optimal Control and Dynamic Games has been edited to honor the outstanding contributions of Professor Suresh Sethi in the fields of Applied Optimal Control. Professor Sethi is internationally one of the foremost experts in this field. He is, among others, co-author of the popular textbook "Sethi and Thompson: Optimal Control Theory: Applications to Management Science and Economics."

The book consists of a collection of essays by some of the best known scientists in the field, covering diverse aspects of applications of optimal control and dynamic games to problems in Finance, Management Science, Economics, and Operations Research. In doing so, it provides both a state-of-the-art overview over recent developments in the field, and a reference work covering the wide variety of contemporary questions that can be addressed with optimal control tools, and demonstrates the fruitfulness of the methodology.

Data management systems play the most crucial role in building large application s- tems. Since modern applications are no longer single monolithic software blocks but highly flexible and configurable collections of cooperative services, the data mana- ment layer also has to adapt to these new requirements. Therefore, within recent years, data management systems have faced a tremendous shift from the central management of individual records in a transactional way to a platform for data integration, fede- tion, search services, and data analysis. This book addresses these new issues in the area of data management from multiple perspectives, in the form of individual contributions, and it outlines future challenges in the context of data management. These contributions are dedicated to Prof. em. Dr. Dr. -Ing. E. h. Hartmut Wedekind on the occasion of his 70th birthday, and were (co-)authored by some of his academic descendants. Prof. Wedekind is one of the most prominent figures of the database management community in Germany, and he enjoys an excellent international reputation as well. Over the last 35 years he greatly contributed to making relational database technology a success. As far back as the early 1970s, he covered-as the first author in Germany- the state of the art concerning the relational model and related issues in two widely used textbooks "Datenbanksysteme I" and "Datenbanksysteme II". Without him, the idea of modeling complex-structured real-world scenarios in a relational way would be far less developed by now. Among Prof.

Many of the environmental impacts made by organisations are created by early strategic planning, marketing and design decisions. This book encourages managers and students of management to explore how and when environmental decisions are made in organisations. It introduces them to the processes and tools they can use to change the environmental direction of their organisation and reduce its environmental impact on the earth. It guides the reader down the track whose destination is ecological sustainability.

Recently knowledge management and management learning has received considerable published coverage; however, most of this exposure is based on a rational, mechanistic view of knowledge management. Practice, on the other hand, has taught us that knowledge management and learning are extremely broad concepts with an expanding area of subfields. This rationalized and measured view of knowledge management has lead to a more technologically driven development of the field. In practice, however, this view of knowledge management has fallen short of its promise. This situation has created the need for a more encompassing approach to knowledge management. An approach that will encompass a wider domain of knowledge management topics; including topics such as, workplace learning, knowledge infrastructure, knowledge representation, innovation and learning, knowledge culture and learning, and knowledge technologies.

KNOWLEDGE MANAGEMENT AND MANAGEMENT LEARNING: Extending the Horizons of Knowledge-Based Management examines a range of topical considerations in the field by utilizing dynamic and non-linear systems behavior or the complexity paradigm. From this examination have come a number of new and promising relevant extensions to knowledge management and its practice. Many of the topics have been pulled from "real world" situations in actual companies, and therefore these topical treatments reflect quantitative and qualitative research done within the knowledge management framework of actual company experience. Offered are a series of topical treatments that extend the parameters of knowledge management and examine the practical implications of these extensions.

The book begins with anextended introduction and theoretical framework. Contributing authors have written chapters that add to both the framework and the practical consequences of knowledge management. These chapters suggest many lessons learned that will find considerable use in practice. Some of these chapters include an investigation of the "doa (TM)s and dona (TM)ts" virtual learning based on real-life cases, the use of design teams for group learning, the role of language and the creation of common ground between company and client, culture as a dynamic and non-linear constructed concept, innovation and knowledge management and more. The book offers an exceptional range of contributions within a developing paradigm. Within this context, the book illustrates why and how of knowledge management is important for companies.

Energy Risk Modeling is a primer on statistical methods for managers, students and anybody interested in the field. Illustrated through elementary and more advanced statistical Methods, it is primarily aimed at those individuals who need a gentle introduction in how to go about using statistical methods for modeling energy price risk. Statistical ideas are presented by outlining the necessary concepts and illustrating how these ideas can be implemented. This is the first energy risk book on the market to focus specifically on the role of statistical methods. Its practical approach makes the book a very useful reference and an interesting read.

There have been systematic attempts over the last twenty-five years to explore the implications of decision making with incomplete information and to model an 'economic man' as an information-processing organism. These efforts are associated with the work of Roy Radner, who joins other analysts in this collection to offer accessible overviews of the existing literature on topics such as Walrasian equilibrium with incomplete markets, rational expectations equilibrium, learning, Markovian games, dynamic game-theoretic models of organization, and experimental work on mechanism selection. Some essays also take up relatively new themes related to bounded rationality, complexity of decisions, and economic survival. The collection overall introduces models that add to the toolbox of economists, expand the boundaries of economic analysis, and enrich our understanding of the inefficiencies and complexities of organizational design in the presence of uncertainty.

The concepts and theories of knowledge management and networks are well documented. Yet there are few, if any, guidelines on how to implement knowledge management within an organization, especially focusing on how to manage knowledge in a network environment. Putting Knowledge Networks into Action visualizes paths that allow one to make connections between theories, concepts and concrete actions. It shows how to integrate these different roots into a holistic view on managing knowledge in networks. It develops a methodology that will help the reader move towards building and maintaining knowledge networks in his or her organization.

Enterprise Modelling (EM) methods are frequently used by entrepreneurs as an analysis tool for describing and redesigning their businesses. The resulting product, an enterprise model, is commonly used as a blueprint for reconstructing organizations and such effort is often a part of business process re-engineering and improvement initiatives.

Automating Business Modelling describes different techniques of providing automated support for enterprise modelling methods and introduces universally used approaches. A running example of a business modelling method is included; providing a framework and detailed explanation as to how to construct automated support for modelling, allowing readers to follow the method to create similar support.

Suitable for senior undergraduates and postgraduates of Business Studies, Computer Science and Artificial Intelligence, practitioners in the fields of Knowledge Management, Enterprise Modelling and Software Engineering, this book offers insight and know-how to both student and professional.

Appendices A Rotastore A. l Tabular Results for Different Models A. 2 Tabular Results for Different Algorithms B OptiTrans B. l Input Data B. l. l Input Data Common to all Solution Approaches B. 1. 2 Specific Input Data for the MILP Model and the Column Enumeration Approach B. 1. 3 Specific Input Data for the Heuristic Methods B. 1. 3. 1 Penalty Criteria B. 1. 3. 2 Control Parameters of the OptiTrans Software B. 2 Tabular Results B. 2. 1 Tabular Results for the MILP Model B. 2. 2 Tabular Results for the Heuristic Methods B. 2. 2. 1 Input Data for a Whole Day - Offline Analysis B. 2. 2. 2 Results for CIH and SA References Index Preface This book covers the analysis and development of online algorithms involving exact optimization and heuristic techniques, and their appli- tion to solve two real life problems. The first problem is concerned with a complex technical system: a special carousel based high-speed storage system - Rotastore. It is shown that this logistic problem leads to an NP-hard Batch Presorting Pr- lem (BPSP) which is not easy to solve optimally in offline situations. We consider a polynomial case and develope an exact algorithm for offline situations. Competitive analysis showed that the proposed online - gorithm is 312-competitive. Online algorithms with lookahead improve the online solutions in particular cases. If the capacity constraint on additional storage is neglected the problem has a totally unimodular polyhedron.

Combinatorial optimization is a multidisciplinary scientific area, lying in the interface of three major scientific domains: mathematics, theoretical computer science and management. The three volumes of the Combinatorial Optimization series aim to cover a wide range of topics in this area. These topics also deal with fundamental notions and approaches as with several classical applications of combinatorial optimization. Concepts of Combinatorial Optimization, is divided into three parts: - On the complexity of combinatorial optimization problems, presenting basics about worst-case and randomized complexity; - Classical solution methods, presenting the two most-known methods for solving hard combinatorial optimization problems, that are Branch-and-Bound and Dynamic Programming; - Elements from mathematical programming, presenting fundamentals from mathematical programming based methods that are in the heart of Operations Research since the origins of this field.

In recent years there has been considerable interest in emotional intelligence. Drawing upon a rich theoretical and philosophical tradition, the author explains the concept and process of emotional production and how this works in gratifying, aversive and hierarchical situations as well as irreversible situations and situations of failure and success. This will provide a powerful framework for understanding the importance of emotional logic in relation to decision making and self-management and includes a number of compelling case studies.

This book shifts the debate on knowledge transfers within multinational corporations (MNCs) back to its core: How can we increase the effectiveness of cross-border transfers of knowledge? Several perspectives on international knowledge flows, from control issues to cultural barriers, are integrated into a comprehensive framework. Based on a sample of leading MNCs, empirical results show which managerial mechanisms have to be implemented to increase the benefit from knowledge transfers in headquarters and subsidiaries.

A pilot ?ying to a distant city needs to check his position, ?ight path and weather conditions, and must constantly keep his plane under control to land safely.TheIfosurveydataprovideadvanceinformationonchangingeconomic weather conditions and help keep the economy under control. To be sure, by their very nature they only provide short-term information. But like a plane, the economy will not be able to reach its long-term goals if it strays o? course in the short term. The Ifo survey data provide the most comprehensive and accurate, - to-date database in Europe on the state of the business cycle, and the Ifo climate indicator, sometimes simply called "The Ifo," is the most frequently cited indicator of its kind in Europe. Both the European stock market and theeuroreacttoourindicator.Ifo'smethodologyfordeterminingthebusiness climateindicatorhasbeenexportedtomorethan?ftycountries, mostrecently toTurkeyandChina.TheIfopeoplewereproudtohavebeenaskedtohelpset up polling systems in these countries. It is said that the Chinese government relies more on their "Ifo indicator" than on their o?cial accounting statistics.

Improving service and profits should be the constant aim of the operation side of any company. Beatriz Munoz Seca and Josep Riverola uncover the role of knowledge and problem solving as the cornerstones of the improvement process. They present the logic of the situation and show practical ways to implement the approach. Managing the knowledge process and involving the whole company in problem solving are the keys to success. Also the book presents and develops the concept of Problem Driven Management (PDM) as a new approach to Operations. MARKET 1: Researchers, Academics and Libraries in Universities and Business and Management Schools, especially on Operations Management and Knowledge Management programmes; Managers interested in Operations Management and Knowledge Management MARKET 2: Supplementary reading for MBA students interested in Operations Management and Knowledge Management

In today's competitive environments enterprises face diminishing market life spans, increasing pressure on profit margins and increasingly complex c- tomer requirements. Thus in their operations, modern organizations have to find a high-level balance between dynamics, complexity and precision in order to best utilize their markets. Organization Theory and Industrial En- neering, the disciplines on hand helping industry to cope with this challenge, soon identified process optimizations as the key to possible solutions. Many efforts have been undertaken to provide sound theoretical models to deal with complexity and dynamics and streamline business processes. These efforts on the one hand helped companies to be more precise in carrying out their actions and even provided solutions to produce customized products at near-mass production prices (Mass-Customization). On the other hand it t- ned out to be one of the most difficult tasks to generalize and transfer ex- riences gained in one process-reengineering project to another and put the theoretical models into practice. Not without reason is it the extremely high failure rate of business-process-reengineering projects that today deters most enterprises from entering such adventures. Right at the same time there emerged a new and highly promising scientific branch, Knowledge Management, that attracted many disciplines - among others again Organization Theory and Industrial Engineering. Knowledge was identified as a major production factor. In industrialized countries, value added is mainly raised by the intellectual abilities of a company's workforce.

Based on his diverse personal experiences and two decades of interdisciplinary research, Dr. Ehin unveils the "mysteries" and shows the practicality of tapping into the ever evolving, yet extraordinarily powerful, informal networks present in all social groups. What this book reveals is the extraordinarily dynamic and tight linkage between three "hidden" organizational success factors responsible for most work accomplished in both for profit and nonprofit ventures, especially in the development of new innovations. The book shows why in a knowledge economy it is essential to design organizations that facilitate the fundamental collaborative and creative qualities of human nature rather than unconsciously suppressing them. In doing so, it is made obvious why most mergers and change efforts fail and the reasons why an average employee only works at two-thirds of his/her capacity.

This work clearly demonstrates how "smart" institutions can harness, rather than manage, these invisible emergent forces and in the process avoid the dismal record of past organizational transformation initiatives. Hidden Assets is a must read not only for top executives, knowledge professionals, and organizational scholars, but for everyone associated with private, public, or voluntary social institutions.

Collaborative decision making processes are a form of communication inside organizations. Their functioning can teach lessons for the design of electronic office systems. Those processes are open ended and therefore decide themselves on their form. Like oral deliberations which cannot be modelled in advance any open ended communication process needs means for common control over the further advancement and the ending of the process.

The history of German administrative practice and its special methods of using disposals for the control of common processes shows the creation of records as based on communication needs generated by the intention of joint actions. For electronic decision making processes the purposes remain the same, but the means have to follow the effects of electronic communication on messages.

The book is a reworked English version of a thesis for the official qualification for university professorship accepted by the German University of Administrative Sciences Speyer. Germany.

The standard rationality hypothesis is that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of the social sciences. Though this hypothesis of utility maximization deserves our continued respect, finding further refinements and developing new critiques remain areas of active research. In fact, many fundamental conceptual problems remain unsettled. Where others have been resolved, their resolutions may be too recent to have achieved widespread understanding among social scientists. Last but not least, a growing number of papers attempt to challenge the rationality hypothesis head on, at least in its more orthodox formulation. The main purpose of this Handbook is to make more widely available some recent developments in the area. Yet we are well aware that the final chapter of a handbook like this can never be written as long as the area of research remains active, as is certainly the case with utility theory. The editors originally selected a list of topics that seemed ripe enough at the time that the book was planned. Then they invited contributions from researchers whose work had come to their attention. So the list of topics and contributors is largely the editors' responsibility, although some potential con tributors did decline our invitation. Each chapter has also been refereed, and often significantly revised in the light of the referees' remarks."