Value and Prices in Russian Economic Thought: A journey inside the Russian Synthesis, 1890-1920

This book explores Russian synthesis that occurred in Russian economic thought between 1890 and 1920. This includes all the attempts at synthesis between classical political economy and marginalism; the labour theory of value and marginal utility; and value and prices. The various ways in which Russian economists have approached these issues have generally been addressed in a piecemeal fashion in history of economic thought literature. This book returns to the primary sources in the Russian language, translating many into English for the first time, and offers the first comprehensive history of the Russian synthesis. The book first examines the origins of the Russian synthesis by determining the condition of reception in Russia of the various theories of value involved: the classical theories of value of Ricardo and Marx on one side; the marginalist theories of prices of Menger, Walras and Jevons on the other. It then reconstructs the three generations of the Russian synthesis: the first (Tugan-Baranovsky), the second, the mathematicians (Dmitriev, Bortkiewicz, Shaposhnikov, Slutsky, etc.) and the last (Yurovsky), with an emphasis on Tugan-Baranovsky's initial impetus. This volume is suitable for those studying economic theory and philosophy as well as those interested in the history of economic thought.

Preservation and Management of Added Value in Networked R&D environment

Tämä tutkielma käsittelee lisäarvon syntymistä, ylläpitämistä ja hallintaa verkostoi-tuneessa tuotekehitysympäristössä. Teemahaastattelu-menetelmää käyttäen, tavoitteena on tunnistaa ja kuvata ne prosessit, käytännöt ja toimintatavat, joissa kohdeyritys on onnistunut ja joissa lisäarvoa on syntynyt. Toinen keskeinen tavoite on löytää ongelmalliset alueet lisäarvon tuottamisessa ja analysoida, miksi nämä alueet ovat ongelmallisia. Käsitteiden arvo, arvoketju ja arvoverkosto, sekä viitekirjallisuuden esimerkkien perusteella muodostetaan teoreettinen viitekehys ja kuvataan niitä hyödyllisiä toimintatapoja ja käytäntöjä, joihin panostamalla lisäarvoa syntyy. Erityisesti informaatioteknologian alalla verkostoituminen ja arvoverkosto ovat yhä merkittävämpiä tuotekehityksen toimintatapoja, mihin horisontaalisen yhteistyön kehittyminen, globalisoituminen ja informaatioteknologian nopea kehitys on johtanut. Keskeisiä tuloksia ovat tarve yhtenäisempään, prosessinomaisempaan toimintatapaan ja liiketoimintaprosessien muokkaamiseen verkostoituneen T&K ympäristön vaatimusten mukaisesti. Myös tarve paremman näkyvyyden luomiseen sekä aktiviteettien hallintaan uudentyyppisen arvoverkoston vaatimusten mukaisesti korostui tuloksissa.

Strategic management of value networks: how to create value in cross-sector collaboration and partnerships

Cross-sector collaboration and partnerships have become an emerging and desired strategy in addressing huge social and environmental challenges. Despite its popularity, cross-sector collaboration management has proven to be very challenging. Even though cross-sector collaboration and partnership management have been widely studied and discussed in recent years, their effectiveness as well as their ability to create value with respect to the problems they address has remained very challenging. There is little or no evidence of their ability to create value. Regarding all these challenges, this study aims to explore how to manage cross-sector collaborations and partnerships to be able to improve their effectiveness and to create more value for all partners involved in collaboration as well as for customers. The thesis is divided into two parts. The first part comprises an overview of relevant literature (including strategic management, value networks and value creation theories), followed by presenting the results of the whole thesis and the contribution made by the study. The second part consists of six research publications, including both quantitative and qualitative studies. The chosen research strategy is triangulation, as the study includes four types of triangulation: (1) theoretical triangulation, (2) methodological triangulation, (3) data triangulation and (4) researcher triangulation. Two publications represent conceptual development, which are based on secondary data research. One publication is a quantitative study, carried out through a survey. The other three publications represent qualitative studies, based on case studies, where data was collected through interviews and workshops, with participation of managers from all three sectors: public, private and the third (nonprofit). The study consolidates the field of “strategic management of value networks,” which is proposed to be applied in the context of cross-sector collaboration and partnerships, with the aim of increasing their effectiveness and the process of value creation. Furthermore, the study proposes a first definition for the strategic management of value networks. The study also proposes and develops two strategy tools that are recommended to be used for the strategic management of value networks in cross-sector collaboration and partnerships. Taking a step forward, the study implements the strategy tools in practice, aiming to show and to demonstrate how new value can be created by using the developed strategy tools for the strategic management of value networks. This study makes four main contributions. (1) First, it brings a theoretical contribution by providing new insights and consolidating the field of strategic management of value networks, also proposing a first definition for the strategic management of value networks. (2) Second, the study makes a methodical contribution by proposing and developing two strategy tools for value networks of cross-sector collaboration: (a) value network mapping, a method that allows us to assess the current and the potential value network and (b) the Value Network Scorecard, a method of performance measurement and performance prediction in cross-sector collaboration. (3) Third, the study has managerial implications, offering new solutions and empirical evidence on how to increase the effectiveness of cross-sector collaboration and also allow managers to understand how new value can be created in cross-sector partnerships and how to get the full potential of collaboration. (4) And fourth, the study also has practical implications, allowing managers to understand how to use in practice the strategy tools developed in this study, providing discussions on the limitations regarding the proposed tools as well as general limitations involved in the study.

An MD-PhD program in Brazil: students’ concepts of science and of common sense

In 1995, a pioneering MD-PhD program was initiated in Brazil for the training of medical scientists in experimental sciences at the Federal University of Rio de Janeiro. The program’s aim was achieved with respect to publication of theses in the form of papers with international visibility and also in terms of fostering the scientific careers of the graduates. The expansion of this type of program is one of the strategies for improving the preparation of biomedical researchers in Brazil. A noteworthy absence of interest in carrying out clinical research limits the ability of young Brazilian physicians to solve biomedical problems. To understand the students’ views of science, we used qualitative and quantitative triangulation methods, as well as participant observation to evaluate the students’ concepts of science and common sense. Subjective aspects were clearly less evident in their concepts of science. There was a strong concern about "methodology", "truth" and "usefulness". "Intuition", "creativity" and "curiosity" were the least mentioned thematic categories. Students recognized the value of intuition when it appeared as an explicit option but they did not refer to it spontaneously. Common sense was associated with "consensus", "opinion" and ideas that "require scientific validation". Such observations indicate that MD-PhD students share with their senior academic colleagues the same reluctance to consider common sense as a valid adjunct for the solution of scientific problems. Overcoming this difficulty may be an important step toward stimulating the interest of physicians in pursuing experimental research.

Determination of potential value drivers by identifying customer expectations and perceived value

The purpose of this exploratory research is to identify the potential value drivers regarding a new service offering. More specifically, the aim is to build understanding of customer expectations and perceived value of energy efficiency solutions in the building’s sector. The knowledge is then used in defining potential value drivers. The research is conducted from the customer’s perspective in a business-to-business context. The theory part of the master’s thesis focuses on discussing the antecedents of customer expectations and customer value. The theory gives implications how to determine value drivers and develop value propositions as well as conduct value assessment. The empirical part is based on the qualitative research method. The research was conducted as a single-case study, and the primary data was collected through semi-structured interviews with potential customers. The results of the research revealed that the customer expectations are connected to being able to define value drivers. In addition, the research revealed generic themes relating to the offering and customer-supplier relationship, which help in the process of identifying potential value drivers. The results were discussed in terms of product-, service-, price- and relationship-related value drivers for the new service. Based on the data analysis the dominant value drivers are elaborated in terms of identified customer benefits and customer sacrifices (costs). Finally, some implications of value proposition and value assessment to support the value delivery were given.

Value creation in project business relationships: Supplier and customer's perspectives

The purpose of this study is to analyze supplier’s value creation ability in project business in order to enhance customer’s business. In addition, the aim is to identify the role of business relationships in value creation and analyze the applicability of key account management in project business. The study considers value from the customer’s point of view. The concepts of value and value creation are widely discussed in marketing literature. Theory emphasizes the importance of value creation and business relationships in business markets. The empirical part of the study is conducted as a case study research. The empirical evidence is collected by interviewing one supplier organization and their three customer organizations. These companies operate in Finnish and global industrial markets. Data is collected through semi-structured interviews and analyzed by using qualitative content analysis. The study identifies several customer value drivers influencing on the value creation, which can be divided into product, service and relationship elements. One of the recognized value drivers is customer-supplier relationship. The findings show that a closer relationship enhances value creation possibilities and the key account management program allows effective managing of business relationships. As managerial implications, suppliers should seek to create continuous and conversational relationships with the key account customers.

Performance of value and momentum strategies in the Swedish stock market

This thesis investigates the performance of value and momentum strategies in the Swedish stock market during the 2000-2015 sample period. In addition the performance of some value and value-momentum combination is examined. The data consists of all the publicly traded companies in the Swedish stock market between 2000-2015. P/E, P/B, P/S, EV/EBITDA, EV/S ratios and 3, 6 and 12 months value criteria are used in the portfolio formation. In addition to single selection criteria, combination of P/E and P/B (aka. Graham number), the average ranking of the five value criteria and EV/EBIT – 3 month momentum combination is used as a portfolio-formation criterion. The stocks are divided into quintile portfolios based on each selection criterion. The portfolios are reformed once a year using the April’s price information and previous year’s financial information. The performance of the portfolios is examined based on average annual return, the Sharpe ratio and the Jensen alpha. The results show that the value-momentum combination is the best-performing portfolio both during the whole sample period and during the sub-period that started after the 2007-financial crisis.

Dynamic capabilities as enablers of value co-creation between an MBA school and its students

This study presents an understanding of how a U.S. based, international MBA school has been able to achieve competitive advantage within a relatively short period of time. A framework is built to comprehend how the dynamic capability and value co-creation theories are connected and to understand how the dynamic capabilities have enabled value co-creation to happen between the school and its students, leading to such competitive advantage for the school. The data collection method followed a qualitative single-case study with a process perspective. Seven semi-structured interviews were made in September and October of 2015; one current employee of the MBA school was interviewed, with the other six being graduates and/or former employees of the MBA school. In addition, the researcher has worked as a recruiter at the MBA school, enabling to build bridges and a coherent whole of the empirical findings. Data analysis was conducted by first identifying themes from interviews, after which a narrative was written and a causal network model was built. Thus, a combination of thematic analysis, narrative and grounded theory were used as data analysis methods. This study finds that value co-creation is enabled by the dynamic capabilities of the MBA school; also capabilities would not be dynamic if value co-creation did not take place. Thus, this study presents that even though the two theories represent different level analyses, they are intertwined and together they can help to explain competitive advantage. The MBA case school’s dynamic capabilities are identified to be the sales & marketing capabilities and international market creation capabilities, thus the study finds that the MBA school does not only co-create value with existing students (customers) in the school setting, but instead, most of the value co-creation happens between the school and the student cohorts (network) already in the recruiting phase. Therefore, as a theoretical implication, the network should be considered as part of the context. The main value created seem to lie in the MBA case school’s international setting & networks. MBA schools around the world can learn from this study; schools should try to find their own niche and specialize, based on their own values and capabilities. With a differentiating focus and a unique and practical content, the schools can and should be well-marketed and proactively sold in order to receive more student applications and enhance competitive advantage. Even though an MBA school can effectively be treated as a business, as the study shows, the main emphasis should still be on providing quality education. Good content with efficient marketing can be the winning combination for an MBA school.

The ‘Is’ of Fiction Elgin/Goodman Fictionalism : fictions in art and science

Cet essai a pour objet le rôle de la notion de fiction dans les domaines de l’art et de la science. Essentiellement, je soutiens que « fiction » dans ce contexte est « a category mistake » (concept versus genre) et je crois que cet essai peut réussir à « cuire du pain philosophique » en dévoilant une dispute verbale. Je suggère donc de clore un débat philosophique dans son intégralité. Je présente un exposé du style de fictionnalisme abordé par Catherine Z. Elgin et Nelson Goodman (que ce soit dans le contexte des arts ou des sciences, nous parvenons à la compréhension grâce à des fictions sous formes de « vérités non littérales ») et j’explore le concept de la fiction. Je soutiens que les représentations (textes descriptifs de toutes sortes, incluant les modèles) sont constituées d’éléments fictionnels et d’éléments facettés (à l’exception de la version idéale possible ou impossible, c’est-à-dire dans l’esprit de Dieu, qui n’inclurait que les facettes.) La compréhension ne peut provenir de la fiction, mais plutôt d’éléments facettés ordonnés de manière à créer une compréhension qui conduit généralement à des prédictions, des explications et des manipulations. Je définis les facettes comme ayant des caractéristiques organisées, alors que les fictions ont des caractéristiques désorganisées. La fiction dans son intégralité est donc, par définition, l’expression du néant (of nothing), ou en matière de langues idéales (mathématiques), l’expression de contradiction. Les fictions et les facettes relèvent des représentations qui sont elles-mêmes primitives. Les textes descriptifs sont donc fictionnels par degré. Les récits qui sont très fictionnels ont une certaine valeur (souvent ludique) mais contiennent toujours au moins une facette. En fin de compte, toutes les activités représentationnelles devraient être considérées irréelles, incomplètes, bien que parfois connectées à la réalité, c’est-à-dire, prises entre une description réaliste facettée et une fiction dans son intégralité.

‘God’s Truth’: Kant, Mill and moral epistemology in Oliver Twist

This essay aims to demonstrate how Dickens’s search for ‘truth’ (and his understanding of what that abstraction consists of) entered into and emerged from one of the key philosophical discussions of the early nineteenth century: namely whether moral knowledge is the sum of one’s experiences or whether there are such things as a priori or ‘natural’ principles of ethics that transcend human practice.

Relational resources: do they create value for both buyer and suppliers?

The study tested the relationship between relational resources and value creation and appropriation. A survey with suppliers and buyers provided evidence that interorganizational fit and knowledge sharing have impact on the relational benefit and the share captured by each organization, but also indicated that each echelon has a different perception

Tolerance and Critical Thinking

Post-soviet countries are in the process of transformation from a totalitarian order to a democratic one, a transformation which is impossible without a profound shift in people's way of thinking. The group set themselves the task of determining the essence of this shift. Using a multidisciplinary approach, they looked at concrete ways of overcoming the totalitarian mentality and forming that necessary for an open democratic society. They studied the contemporary conceptions of tolerance and critical thinking and looked for new foundations of criticism, especially in hermeneutics. They then sought to substantiate the complementary relation between tolerance and criticism in the democratic way of thinking and to prepare a a syllabus for teaching on the subject in Ukrainian higher education. In a philosophical exploration of tolerance they began with relgious tolerance as its first and most important form. Political and social interests often lay at the foundations of religious intolerance and this implicitly comprised the transition to religious tolerance when conditions changed. Early polytheism was more or less indifferent to dogmatic deviations but monotheism is intolerant of heresies. The damage wrought by the religious wars of the Reformations transformed tolerance into a value. They did not create religious tolerance but forced its recognition as a positive phenomenon. With the weakening of religious institutions in the modern era, the purely political nature of many conflicts became evident and this stimulated the extrapolation of tolerance into secular life. Each historical era has certain acts and operations which may be interpreted as tolerant and these can be classified as to whether or not they are based on the conscious following of the principle of tolerance. This criterion requires the separation of the phenomenon of tolerance from its concept and from tolerance as a value. Only the conjunction of a concept of tolerance with a recognition of its value can transform it into a principle dictating a norm of conscious behaviour. The analysis of the contemporary conception of tolerance focused on the diversity of the concept and concluded that the notions used cannot be combined in the framework of a single more or less simple classification, as the distinctions between them are stimulated by the complexity of the realty considered and the variety of its manifestations. Notions considered in relation to tolerance included pluralism, respect and particular-universal. The rationale of tolerance was also investigated and the group felt that any substantiation of the principle of tolerance must take into account human beings' desire for knowledge. Before respecting or being tolerant of another person different from myself, I should first know where the difference lies, so knowledge is a necessary condition of tolerance.The traditional division of truth into scientific (objective and unique) and religious, moral, political (subjective and so multiple) intensifies the problem of the relationship between truth and tolerance. Science was long seen as a field of "natural" intolerance whereas the validity of tolerance was accepted in other intellectual fields. As tolerance eemrges when there is difference and opposition, it is essentially linked with rivaly and there is a a growing recognition today that unlimited rivalry is neither able to direct the process of development nor to act as creative matter. Social and economic reality has led to rivalry being regulated by the state and a natural requirement of this is to associate tolerance with a special "purified" form of rivalry, an acceptance of the actiivity of different subjects and a specification of the norms of their competition. Tolerance and rivalry should therefore be subordinate to a degree of discipline and the group point out that discipline, including self-discipline, is a regulator of the balance between them. Two problematic aspects of tolerance were identified: why something traditionally supposed to have no positive content has become a human activity today, and whether tolerance has full-scale cultural significance. The resolution of these questions requires a revision of the phenomenon and conception of tolerance to clarify its immanent positive content. This involved an investigation of the contemporary concept of tolerance and of the epistemological foundations of a negative solution of tolerance in Greek thought. An original soution to the problem of the extrapolation of tolerance to scientific knowledge was proposed based on the Duhem-Quine theses and conceptiion of background knowledge. In this way tolerance as a principle of mutual relations between different scientific positions gains an essential epistemological rationale and so an important argument for its own universal status. The group then went on to consider the ontological foundations for a positive solution of this problem, beginning with the work of Poincare and Reichenbach. The next aspect considered was the conceptual foundations of critical thinking, looking at the ideas of Karl Popper and St. Augustine and at the problem of the demarcation line between reasonable criticism and apologetic reasoning. Dogmatic and critical thinking in a political context were also considered, before an investigation of critical thinking's foundations. As logic is essential to critical thinking, the state of this discipline in Ukrainian and Russian higher education was assessed, together with the limits of formal-logical grounds for criticism, the role of informal logical as a basis for critical thinking today, dialectical logic as a foundation for critical thinking and the universality of the contemporary demand for criticism. The search for new foundations of critical thinking covered deconstructivism and critical hermeneutics, including the problem of the author. The relationship between tolerance and criticism was traced from the ancient world, both eastern and Greek, through the transitional community of the Renaissance to the industrial community (Locke and Mill) and the evolution of this relationship today when these are viewed not as moral virtues but as ordinary norms. Tolerance and criticism were discussed as complementary manifestations of human freedom. If the completeness of freedom were accepted it would be impossible to avoid recognition of the natural and legal nature of these manifestations and the group argue that critical tolerance is able to avoid dismissing such negative phenomena as the degradation of taste and manner, pornography, etc. On the basis of their work, the group drew up the syllabus of a course in "Logic with Elements of Critical Thinking, and of a special course on the "Problem of Tolerance".

Value Priorities and Content of Religiosity - New Research Perspectives

In this study the relationship of religiosity and value priorities is differentiated, based on a multidimensional measurement of different contents of religiosity. The structure of values is conceptualized using Schwartz’ (1992) two orthogonal dimensions of Self-transcendence vs. Self-enhancement and Openness to change vs. Conservation. The relations between these two dimensions and eight religious contents, ranging from open-minded to more close-minded forms of religiosity, were tested in a sample of church attenders (N = 685), gathered in Germany. The results show, that depending on the content of religiosity, different values are preferred (self-direction, universalism, benevolence, tradition and security values). The results indicate the importance of the content of religiosity for predicting value-loaded behaviors.

Measuring value in cancer-related health care: A case study in head and neck cancer

In the current climate of escalating health care costs, defining value and accurately measuring it are two critical issues affecting not only the future of cancer care in particular but also the future of health care in general. Specifically, measuring and improving value in cancer-related health care are critical for continued advancements in research, management, and overall delivery of care. However, in oncology, most of this research has focused on value as it relates to insurance industry and payment reform, with little attention paid to value as the output of clinical interventions that encompass integrated clinical teams focusing on the entire cycle of care and measuring objective outcomes that are most relevant to patients. ^ In this study, patient-centered value was defined as health outcomes achieved per dollar spent, and calculated using objective functional outcomes and total care costs. The analytic sample comprised patients diagnosed with three common head and neck cancers—cancer of the larynx, oral cavity, and oropharynx—who were treated in an integrated tertiary care center over an approximately 10-year period. The results of this study provide initial empirical data that can be used to assess and ultimately to help improve the quality and value of head and neck cancer care, and more importantly they can be used by patients and clinicians to make better-informed decisions about care, particularly what therapeutic services and outcomes matter the most to patients.^

Seasonal cycles of monthly means of ground truth wind speed of METAR station GVAC and of area-averaged TMI wind speed at 37 GHz for the Cape Verde Island Sal

In the present paper ground truth and remotely sensed datasets were used for the investigation and quantification of the impact of Saharan dust on microwave propagation, the verification of theoretical results, and the validation of wind speeds determined by satellite microwave sensors. The influence of atmospheric dust was verified in two different study areas by investigations of single dust storms, wind statistics, wind speed scatter plots divided by the strength of Saharan dust storms, and wind speed differences in dependence of microwave frequencies and dust component of aerosol optical depth. An increase of the deviations of satellite wind speeds to ground truth wind speeds with higher microwave frequencies, with stronger dust storms, and with higher amount of coarse dust aerosols in coastal regions was obtained. Strong Saharan dust storms in coastal areas caused mean relative errors in the determination of wind speed by satellite microwave sensors of 16.3% at 10.7 GHz and of 20.3% at 37 GHz. The mean relative errors were smaller in the open sea area with 3.7% at 10.7 GHz and with 11.9% at 37 GHz.