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Measurement of diminishing or divergent cross section dispersion in a panel plays an important role in the assessment of convergence or divergence over time in key economic indicators. Econometric methods, known as weak σ-convergence tests, have recently been developed (Kong, Phillips, & Sul, 2019) to evaluate such trends in dispersion in panel data using simple linear trend regressions. To achieve generality in applications, these tests rely on heteroskedastic and autocorrelation consistent (HAC) variance estimates. The present chapter examines the behavior of these convergence tests when heteroskedastic and autocorrelation robust (HAR) variance estimates using fixed-b methods are employed instead of HAC estimates. Asymptotic theory for both HAC and HAR convergence tests is derived and numerical simulations are used to assess performance in null (no convergence) and alternative (convergence) cases. While the use of HAR statistics tends to reduce size distortion, as has been found in earlier analytic and numerical research, use of HAR estimates in nonparametric standardization leads to significant power differences asymptotically, which are reflected in finite sample performance in numerical exercises. The explanation is that weak σ-convergence tests rely on intentionally misspecified linear trend regression formulations of unknown trend decay functions that model convergence behavior rather than regressions with correctly specified trend decay functions. Some new results on the use of HAR inference with trending regressors are derived and an empirical application to assess diminishing variation in US State unemployment rates is included.

The spoken word has long been viewed as the ultimate replacement for the computer keyboard in man‐machine operations. Indeed, a number of such man‐machine interfaces have appeared in recent years, aimed at the professional and consumer markets. And recent US surveys forecast a $1bn domestic market for professional speech recognition products by the end of the decade.

This paper aims to consider the effects of a merger on technology adoption and welfare in the presence of passive cross ownership. Merger increases investments in process technology and may increase welfare. The results are important for antitrust policies and suggest that the antitrust authorities may not need to be too concerned about mergers in industries with cross ownership.

Game-theoretic analysis.

Merger increases investments in process technology and may increase welfare.

To the best of the author’s knowledge, this study is original.

Purpose: Innovation is a multi-dimensional phenomenon influenced at the organisational level by internal and external factors that can determine how innovative an organisation can be, determining a firm’s business performance. This chapter measures and predicts how innovative a company can be, considering key internal factors using modern data analytics/science.

Need for Study: The increasing challenge of modern business operations is affected by how quickly, sustainably, effectively, and efficiently companies can innovate to mitigate the dynamic challenges of current business environments and evolving customer needs. The ability to predict, measure, and manage innovation becomes necessary to ensure that businesses are fit for purpose.

Methodology: A model was designed following the study hypotheses and statistically tested. A historical data sample from the OECD global industry dataset for eight years was used for the analysis. The ordinary least square method was used to test for model fit. Also, in machine learning engineering, predictive analysis using the multivariate linear regression analysis method was carried out.

Findings: The results support the hypotheses that an organisation’s capacity to be innovative can be measured and predicted, and it is influenced by a good number of internal factors or independent variables at various degrees.

Practical Implications: Managers must understand how to measure and predict innovation metrics to manage innovation better, ultimately leading to better business outcomes and performance. Also proposed are new measurement matrices for innovation management: innovation capacity (I_C), business innovation value (BIV), innovation creation factor (ICF), and a practical data-driven innovation management and prediction system.

Initial development of microstructurally accurate finite element models of the soldered joints of electronic surface mount components is described. These models allow for the presence of lead and tin‐rich phases and copper‐tin intermetallic layers within the joints. The effect of these features on the strain distributions within the joints is shown. These strain distributions can be used to predict fatigue lives. This is demonstrated for homogeneous solder joints for which excellent correlation was shown between predicted lives and those measured experimentally by thermal cycling of actual components.

The environmental reliability of Series Q, a system of materials designed for advanced ‘HIC’ circuits, has been studied using three different migration‐resistance tests. —LMRT: a test which is used to assess the resistance to electrochemical migration of horizontally adjacent, closely spaced conductor tracks in a high‐temperature, high‐humidity environment with a voltage bias present (60°C, 90%RH, 48 VDC). —HHBT: a test which monitors the ability of a dielectric to resist electrochemical migration when vertically adjacent crossover conductor tracks are oppositely biased (85°C, 85%RH, 5 VDC). —HBT: a test which measures how well a dielectric can sustain its resistance to voltage breakdown over extended periods of time during continuous exposure to conditions of high temperature and voltage (150°C, 200 VDC). The results show that the QSil™ and QPIus™ systems, the two materials systems that comprise Series Q, demonstrate excellent performance in all three areas. Predictions of how well circuits made from these materials will survive in their operating ambient over the long term, e.g., twenty years, have been made.

This practitioner’s guide is based on examples which highlight the usefulness of cross tabulation as a tool for investigating cause‐effect relationships in the business environment. Although cross‐tabulations are common in statistical analysis, many managers need a better understanding of the data being presented. We consider a soft drinks application where a third factor helps uncover an association not readily apparent, in addition to different cases where a third factor causes refinement of initial conclusions based on two‐factor analysis. Because conclusions are always subject to modification with introduction of the “right” factors, we are always in the position of inferring only that an association exists. This is the rationale for why the accumulation of research studies, rather than a single result, supporting a single relationship is so important to understanding the forces driving a business.

The purpose of this paper is to provide a comprehensive survey of the literature about the use of agent-based simulation (ABS) in the study of organizational behavior, decision making, and problem-solving. It aims at contributing to the consolidation of ABS as a field of applied research in management and organizational studies.

The authors carried out a non-systematic search in literature published between 2000 and 2016, by using the keyword “agent-based” to search through Scopus’ business, management and accounting database. Additional search criteria were devised using the papers’ keywords and the categories defined by the divisions and interest groups of the Academy of Management. The authors found 181 articles for this survey.

The survey shows that ABS provides a robust and rigorous framework to elaborate descriptions, explanations, predictions and theories about organizations and their processes as well as develop tools that support strategic and operational decision making and problem-solving. The authors show that the areas that report the highest number of applications are operations and logistics (37 percent), marketing (17 percent) and organizational behavior (14 percent).

The paper illustrates the increasingly prominent role of ABS in fields such as organizational behavior, strategy, human resources, marketing and logistics. To-date, this is the most complete survey about ABS in all management areas.

A Steam‐cooled Aeroplane Engine IN R. & M. No. 1163 (“On the Correction of Heat from the Surface of an Aerofoil in a Wind Current”) the statement was made that “Although considerable constructional difficulties are encountered in the installation of wing radiators, their attractiveness from the point of view of saving head resistance seems likely to render them an indispensable feature of the fastest aeroplanes for some time to come.” Wing radiators have, of course, been a feature of the British Schneider Trophy seaplanes in the last two races. But for military purposes there are disadvantages in having a large portion of the surface of the wings of fighting aircraft rendered vulnerable by being utilised as radiators. It is at the same time clear that much resistance could be saved if the normal water radiator could be eliminated. An obvious method of achieving both objects is to go to steam cooling, the condensing tank forming the leading edges of the wings, which has the advantage of enabling the engine to be run at a more efficient temperature. In his Wilbur Wright lecture, Mr. Ricardo says that steam cooling “appears most attractive” (see page 178 of this issue), and the practicability of the system has been to some extent proved in the installation in R.101.

In class action antitrust litigation, the standards for acceptable economic analysis at class certification have continued to evolve. The most recent event in this evolution is the United States Supreme Court’s decision in Comcast Corp. v. Behrend, 133 S. Ct. 1435 (2013). The evolution of pre-Comcast law on this topic is presented, the Comcast decision is thoroughly assessed, as are the standards for developing reliable economic analysis. This article explains how economic evidence of both antitrust liability and damages ought to be developed in light of the teachings of Comcast, and how liability evidence can be used by economists to support a finding of common impact for certification purposes. In addition, the article addresses how statistical techniques such as averaging, price-dispersion analysis, and multiple regressions have and should be employed to establish common proof of damages.