Sensors and sensing technologies have a main impact in current society and this aspect will continue into the future because of evolving and improving performance characteristics and capabili-ties. Sensors are general purpose technologies that interact with other technologies with relation-ships...

We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...

A commonly observed two-stage pricing strategy for a custom-made product involves a prepurchase entry fee for a potential consumer and a purchase price if he decides to buy the product. We solve and compare two settings: In the first, the firm does not commit in advance to the second-stage price...

This study proposes the theory of technological parasitism that may be useful for bringing a new perspective to explain and generalize the evolution of technology directed to sustain competitive advantage of firms and nations. Technological parasitism explains the relationship of mutualistic...

This study investigates the failure in project management due to bounded rationality of organizations in the presence of complex and uncertain environments. Examples of failure in project management are described from pharmaceutical sectors (e.g., antibody drugs for Alzheimer’s disease), space...

Political systems shape institutions and govern institutional change supporting economic performance, production and diffusion of technological innovation. This study shows, using global data of countries, that institutional change, based on a progressive democratization of countries, is a...

The main aim of this study is to explain how institutional change, based on processes of democratization, governs the origin and diffusion of technological innovation across economies. This study suggests that institutional change, based on a progressive democratization of countries, is a...

Since a future pandemic similar to COVID-19 is not a question of whether will happen, but when it will happen. The impact of next pandemic will be determined by how well-prepared countries are when it occurs at any time with little warning, and how countries timely respond. In this context, a...

One of the fundamental issues associated with the achievement of sustainable development in is to identify technological and scientific applications addressing the degradation of environmental systems (atmosphere, lithosphere, hydrosphere and biosphere), and concomitant risks to health and human...

What is a disruptive innovation? This study confronts this question here by presenting different approaches, which endeavor to explain the dynamic behavior of disruptive technologies in competitive markets. Firstly, this study introduces destructive technology as a radical innovation, based on...