This paper presents the case for and the evidence in favour of passive investment strategies and examines the major criticisms of the technique. I conclude that the evidence strongly supports passive investment management in all markets—smallcapitalisation stocks as well as large-capitalisation equities, US markets as well as international markets, and bonds as well as stocks. Recent attacks on...

The advent of artificial intelligence has changed many disciplines such as engineering, social science and economics. Artificial intelligence is a computational technique which is inspired by natural intelligence such as the swarming of birds, the working of the brain and the pathfinding of the ants. These techniques have impact on economic theories. This book studies the impact of artificial i...

This paper examines the nature of market orientation (MO) in entrepreneurial firms and proposes a conceptual model of market firm interface appropriate to entrepreneur led firms.

Based on a feasibility analysis on the product and source market orientation of the Ailing River Drifting Scenic Spot, this article explores its product quality as well as market strategies in four aspects including product, price, promotion and place.

7

This paper reviews the Zero Intelligence methodology for investigating markets. This approach models individual traders, operating within a market mechanism, who behave without strategy in order to determine the impact of the market mechanism and consequently the effect of trader behaviour. The paper considers the major contributions and models within this area from both the economics and finan...

DAGGRE was part of a program that began in 2010 as a multi-team forecasting challenge sponsored by IARPA. To harness the “wisdom of crowds”, researchers built an online combinatorial prediction market for predicting events of interest to the U.S. intelligence community. Prediction markets have a long history (See Rhode & Stumpf, 2004.), and their value is described at length by Surowiecki (2004...

We construct a novel agent-based model of prediction markets in which putative human qualities like learning, reasoning, and profit-seeking are absent. We show that the prices which emerge from a market populated by a class of distinctly inhuman agents, Zero-Intelligence agents with diffuse beliefs, replicate the findings of empirical market studies. We use this result to argue against the prev...

Marketing researchers are paying increasing attention to the lack of a proper approach to market orientation (MO) in work on discontinuous innovation. The current research is an attempt to address this concern by contributing to the construction of a new approach: through literature review and synthesis, this paper specified the feature of discontinuous innovation in its customer value creation...