Changes of mind in decision-making.

A decision is a commitment to a proposition or plan of action based on evidence and the expected costs and benefits associated with the outcome. Progress in a variety of fields has led to a quantitative understanding of the mechanisms that evaluate evidence and reach a decision. Several formalisms propose that a representation of noisy evidence is evaluated against a criterion to produce a decision. Without additional evidence, however, these formalisms fail to explain why a decision-maker would change their mind. Here we extend a model, developed to account for both the timing and the accuracy of the initial decision, to explain subsequent changes of mind. Subjects made decisions about a noisy visual stimulus, which they indicated by moving a handle. Although they received no additional information after initiating their movement, their hand trajectories betrayed a change of mind in some trials. We propose that noisy evidence is accumulated over time until it reaches a criterion level, or bound, which determines the initial decision, and that the brain exploits information that is in the processing pipeline when the initial decision is made to subsequently either reverse or reaffirm the initial decision. The model explains both the frequency of changes of mind as well as their dependence on both task difficulty and whether the initial decision was accurate or erroneous. The theoretical and experimental findings advance the understanding of decision-making to the highly flexible and cognitive acts of vacillation and self-correction.

Novel architecture to facilitate disassembly and reuse of electronic components and sub-assemblies

This paper advances the proposition that in many electronic products, the partitioning scheme adopted and the interconnection system used to interconnect the sub-assemblies or components are intimately related to the economic benefits, and hence the attractiveness, of reuse of these items. An architecture has been developed in which the residual values of the connectors, components and sub-assemblies are maximized, and opportunities for take-back and reuse of redundant items are greatly enhanced. The system described also offers significant manufacturing cost benefits in terms of ease of assembly, compactness and robustness.

Influencing factors of successful transitions towards product-service systems: A simulation approach

Product-Service Systems (PSS) are new business strategies moving and extending the product value towards its functional usage and related required services. From a theoretical point of view the PSS concept is known since a decade and many Authors reported reasonable possible success factors: higher profits over the entire life-cycle, diminished environmental burden, and localization of required services. Nevertheless the PSS promises remain quantitatively unproven relaying on a simple theory that involves a few constructs with some empirical grounding, but that is limited by weak conceptualization, few propositions, and/or rough underlying theoretical logic. A plausible interpretation to analyze the possible evolution of a PSS strategy could be considering it as a new business proposition competing on a traditional Product-Oriented (PO) market, assumed at its own equilibrium state at a given time. The analysis of the dynamics associated to a possible transition from a traditional PO to a PSS strategy allows investigating the main parameters and variables influencing an eventual successful adoption. This research is worthwhile because organizations undergoing fundamental PSS strategy are concerned about change and inertia key processes which, despite equilibrium theory and because of negative feedback loops, could undermine, economically, the return of their PSS proposition. In this paper Authors propose a qualitative System Dynamics (SD) approach by considering the PSS as a perturbation of an existing PO market featured by a set of known parameters. The proposed model incorporates several PSS factors able to influence the success of a PSS proposition under a set of given and justified assumptions, attempting to place this business strategy in a dynamic framework.

Disentangling the Complexity of Early-Stage Technology Acquisitions

While tools have been developed to assist firms' decision making for bringing known products and components into the supply chain, fewer tools are available to guide the acquisition of earlier-stage technologies, which is a riskier proposition due to higher technological and market uncertainties. Through synthesis of literature in technology sourcing, open innovation, alliances, mergers and acquisitions, outsourcing, and technology and knowledge transfer and consultation with industry, this paper identifies critical issues that decision makers should consider before making an early-stage technology acquisition. Sixteen questions emerge to guide decision making, comprising internal, technology, and partner assessments. These questions allow a firm to disentangle the complexity of early-stage technology acquisitions and select the most appropriate targets.

Bistable Vibration Energy Harvesters: a review

Powering electronics without depending on batteries is an open research field. Mechanical vibrations prove to be a reliable energy source, but low-frequency broadband vibrations cannot be harvested effectively using linear oscillators. This article discusses an alternative for harvesting such vibrations, with energy harvesters with two stable configurations. The challenges related to nonlinear dynamics are briefly discussed. Different existing designs of bistable energy harvesters are presented and classified, according to their feasibility for miniaturization. A general dynamic model for those designs is described. Finally, an extensive discussion on quantitative measures of evaluating the effectiveness of energy harvesters is accomplished, resulting in the proposition of a new dimensionless metric suited for a broadband analysis.

A value mapping tool for sustainable business modelling

Purpose: Although business models that deliver sustainability are increasingly popular in the literature, few tools that assist in sustainable business modelling have been identified. This paper investigates how businesses might create balanced social, environmental and economic value through integrating sustainability more fully into the core of their business. A value mapping tool is developed to help firms create value propositions better suited for sustainability. Design/methodology/approach: In addition to a literature review, six sustainable companies were interviewed to understand their approaches to business modelling, using a case study approach. Building on the literature and practice, a tool was developed which was pilot tested through use in a workshop. The resulting improved tool and process was subsequently refined through use in 13 workshops. Findings: A novel value mapping tool was developed to support sustainable business modelling, which introduces three forms of value (value captured, missed/destroyed or wasted, and opportunity) and four major stakeholder groups (environment, society, customer, and network actors). Practical implications: This tool intends to support business modelling for sustainability by assisting firms in better understanding their overall value proposition, both positive and negative, for all relevant stakeholders in the value network. Originality/value: The tool adopts a multiple stakeholder view of value, a network rather than firm centric perspective, and introduces a novel way of conceptualising value that specifically introduces value destroyed or wasted/ missed, in addition to the current value proposition and new opportunities for value creation. © Emerald Group Publishing Limited.

Stakeholder engagement in early stage product-service system development for healthcare informatics

This paper presents the findings from four case studies on stakeholder engagement in new health information and communication technology (ICT) product-service system (PSS) development. The degree of connectivity between the new health ICT PSS and its intended operating environment has emerged to be an important contextual factor that may impact the decision of stakeholder engagement in the early stage development process. Along with the proposition of a four-level framework to guide stakeholder identification for new PSS development, three stakeholder engagement propositions that are based on the degree of connectivity are developed. Analysis has shown that there can be two types of connectivity: data and process. Moreover, each connectivity type can be characterized by how much the new PSS is connected with its environment: independent if there is no linkage, linked if it interfaces with, or incorporated if it is embedded into. Furthermore, depending upon whether and to what extent the PSS has data and process connectivity with its intended operating environment, the stakeholder engagement needs in early stage development vary. The propositions presented in this paper provide important directions for future work exploring PSS characterization and stakeholder engagement decision in early stage new PSS development in the healthcare industry. © 2013 PICMET.