Knowledge and markets

An economy is a coordinated system of distributed knowledge. Economic evolution occurs as knowledge grows and the structure of the system changes. This paper is about the role of markets in this process. Traditionally, the theory of markets has not been a central feature of evolutionary economics. This seems to be due to the orthodox view of markets as information-processing mechanisms for finding equilibria. But in economic evolution markets are actually knowledge-structuring mechanisms. What then is the relation between knowledge, information, markets and mechanisms? I argue that an evolutionary theory of markets, in the manner of Loasby (1999), requires a clear formulation of these relations. I suggest that a conception of knowledge and markets in terms of a graphical theory of complex systems furnishes precisely this.

A rapid screen of the severity of mild traumatic brain injury

This study investigated the sensitivity of information processing, recall and orientation tasks to the presence of mild Traumatic Brain Injury (mTBI). Fifty-six (40 male, 16 female) mTBI patients and 85 (57 male and 28 female) controls with orthopaedic injuries were tested within 24 hr of injury in the Department of Emergency Medicine. mTBI patients answered fewer orientation questions and recalled fewer words in delayed recall than orthopaedic patients. mTBI patients judged fewer sentences in 2 min than orthopaedic controls, and female mTBI patients judged fewer sentences than male mTBI patients. Male mTBI patients correctly recalled fewer words during immediate memory and learning than female mTBI patients and orthopaedic controls. Those mTBI patients with a history of previous head injuries did not perform more poorly than those mTBI patients without previous head injuries. These results indicate that tests of speed of information processing, word learning and orientation questions are sensitive to the acute effects of mTBI.

Quantum dynamics of two coupled qubits

We investigate the difference between classical and quantum dynamics of coupled magnetic dipoles. We prove that in general the dynamics of the classical interaction Hamiltonian differs from the corresponding quantum model, regardless of the initial state. The difference appears as nonpositive-definite diffusion terms in the quantum evolution equation of an appropriate positive phase-space probability density. Thus, it is not possible to express the dynamics in terms of a convolution of a positive transition probability function and the initial condition as can be done in the classical case. It is this feature that enables the quantum system to evolve to an entangled state. We conclude that the dynamics are a quantum element of nuclear magnetic resonance quantum-information processing. There are two limits where our quantum evolution coincides with the classical one: the short-time limit before spin-spin interaction sets in and the long-time limit when phase diffusion is incorporated.

Using workflow technology to manage flexible e-learning services

Workflow technology provides a suitable platform to define and manage the coordination of business process activities. We introduce a flexible e-learning environment – called Flex-eL – that has been built upon workflow technology. The workflow functionality of Flex-eL manages the coordination of learning and assessment activities of the course process between students and teaching staff. It provides a unique environment for teachers to design and develop process-centric courses and to monitor student progress. It allows students to learn at their own pace while observing the learning guidelines and checkpoints modeled into the course process by teaching staff. We also report on the successful deployment of the concept and system for university courses and our experiences from the implementation.

Making decisions about treatment for localized prostate cancer

Objective To describe the decision-making processes used by men diagnosed with localized prostate cancer who were considering treatment. Patients and methods Men newly diagnosed with localized prostate cancer from outpatient urology clinics and urologist's private practices were approached before treatment. Their decision-making processes and information-seeking behaviour was assessed; demographic information was also obtained. Results Of 119 men approached, 108 (90%) were interviewed; 91% reported non-systematic decision processes, with deferral to the doctor, positive and negative recollections of others' cancer experiences, and the pre-existing belief that surgery is a better cancer treatment being most common. For systematic information processing the mean (SD, range) number of items considered was 4.19 (2.28, 0-11), with 57% of men considering four or fewer treatment/medical aspects of prostate cancer. Men most commonly considered cancer stage (59%), urinary incontinence (55%) and impotence (51%) after surgery, and low overall mortality (45%). Uncertainty about probabilities for cure was reported by 43% of men and fear of cancer spread by 37%. Men also described uncertainty about the probabilities of side-effects (27%), decisional uncertainty (25%) and anticipated decisional regret (18%). Overall, 73% of men sought information about prostate cancer from external sources, most commonly the Internet, followed by family and friends. Conclusions In general, men did not use information about medical treatments comprehensively or systematically when making treatment decisions, and their processing of medical information was biased by their previous beliefs about cancer and health. These findings have implications for the provision of informational and decisional support to men considering prostate cancer treatment.

Resistively loaded helical antennas for ground-penetrating radar

Resistively loaded helical antennas, used in the normal mode and horizontally polarised, are modelled using the moment method above typical lossy ground. The distributed resistive loading was adjusted to maintain a two octave bandwidth. The centre frequency of 1 m dipoles was reduced from 250 MHz for the straight resistive wire to 50 MHz for a helix of pitch 2.5 cm and diameter 5 cm. The reduction in efficiency required to maintain the bandwidth for this helix was 12 dB. This agrees reasonably with the theory for small antennas in free space. The results were also verified by comparing measurements performed on a monopole resistively loaded helical antenna in a watertank with the numerical model used elsewhere.

The expression of conflict in computer-mediated and face-to-face groups

This study integrated the research streams of computer-mediated communication (CMC) and group conflict by comparing the expression of different types of conflict in CMC groups and face-to face (FTF) groups over time. The main aim of the study was to compare the cues-filtered-out approach against the social information processing theory A laboratory study was conducted with 39 groups (19 CMC and 20 FTF) in which members were required to work together over three sessions. The frequencies of task, process, and relationship conflict were analyzed. Findings supported the social information processing theory. There was more process and relationship conflict in CMC groups compared to FTF groups on Day 1. However, this difference disappeared on Days 2 and 3. There was no difference between CMC and FTF groups in the amount of task conflict expressed on any day.

Rumors and stable-cause attribution in prediction and behavior

Two stock-market simulation experiments investigated the notion that rumors that invoke stable-cause attributions spawn illusory associations and less regressive predictions and behavior. In Study 1, illusory perceptions of association and stable causation (rumors caused price changes on the day after they appeared) existed despite rigorous conditions of nonassociation (price changes were unrelated to rumors). Predictions (recent price trends will continue) and trading behavior (departures from a strong buy-low-sell-high strategy) were both anti-regressive. In Study 2, stability of attribution was manipulated via a computerized tutorial. Participants taught to view price-changes as caused by stable forces predicted less regressively and departed more from buy-low-sell-high trading patterns than those taught to perceive changes as caused by unstable forces. Results inform a social cognitive and decision theoretic understanding of rumor by integrating it with causal attribution, covariation detection, and prediction theory. (C) 2002 Elsevier Science (USA). All rights reserved.