Real options in the context of innovation and development policies and practices. ACES Working Papers, 2012

This paper proposes to build on previous research on the use of real options in strategic decision making (Carayannis and Sipp, 2010) and instill some real options-related concepts stemming from systems design, more particularly engineering. It also builds on previously-established concepts of strategic knowledge serendipity and arbitrage and strategic knowledge co-opetition, co-evolution and co-specialization developed by Carayannis (2009). The application of real options “in” system and real options to innovation and innovation policies demonstrate how embedded real options can more effectively be identified and therefore the decision to execute them or not more effectively made.

Prepared for a Symposium on Country Development at the European Meeting on Cybernetics and Systems Research, Vienna, Austria, April 2012 (Untitled). ACES Working Papers, April 2012

In Kazakhstan doctoral students are not expected to make a contribution to knowledge, as is required at Western universities. Rather, their task is to become familiar with what is known and then make policy recommendations for Kazakhstan. For example, how can the human capital in Kazakhstan be improved? This is a very broad subject for a PhD dissertation. However, it does require a holistic perspective, and such dissertation topics may create an opportunity for systems scientists. When Russell Ackoff created the Social Systems Sciences PhD program at the Wharton School of the University of Pennsylvania, he had his students solve practical problems for business or government managers. That program graduated a large number of people who became consultants. A few became academics in several countries. The program created a philosophy and methods for holistic management. Large issues in developing countries may be a source of clients for systems scientists who want to further develop philosophy, theories and methods by working with large social systems.

Innovations of the European Central Bank in the Context of Financial and Monetary Integration: A Chinese Assessment. ZEI Discussion Paper C229, 2015

In the 15 years since the introduction of the Euro, the integration process within the European Economic and Monetary Union has seen rapid development in terms of both breadth and depth. Exclusively responsible for the monetary policy of the Eurozone, the European Central Bank has continued to adjust to meet the challenges brought about by these changes. The paper explores financial and monetary integration in the Eurozone and reviews the reasons, specific performance and impact of changes in the European Central Bank’s decision-making mechanisms. The purpose of which is to deepen and expand understanding in academic circles of the European economy and the European Economic and Monetary Union, as well as their development trends.