Showing papers by "Aalto University published in 2008"

The CMS experiment at the CERN LHC

Abstract: The Compact Muon Solenoid (CMS) detector is described. The detector operates at the Large Hadron Collider (LHC) at CERN. It was conceived to study proton-proton (and lead-lead) collisions at a centre-of-mass energy of 14 TeV (5.5 TeV nucleon-nucleon) and at luminosities up to 10(34)cm(-2)s(-1) (10(27)cm(-2)s(-1)). At the core of the CMS detector sits a high-magnetic-field and large-bore superconducting solenoid surrounding an all-silicon pixel and strip tracker, a lead-tungstate scintillating-crystals electromagnetic calorimeter, and a brass-scintillator sampling hadron calorimeter. The iron yoke of the flux-return is instrumented with four stations of muon detectors covering most of the 4 pi solid angle. Forward sampling calorimeters extend the pseudo-rapidity coverage to high values (vertical bar eta vertical bar <= 5) assuring very good hermeticity. The overall dimensions of the CMS detector are a length of 21.6 m, a diameter of 14.6 m and a total weight of 12500 t.

The inner jet of an active galactic nucleus as revealed by a radio-to-γ-ray outburst

Abstract: Blazars are the most extreme active galactic nuclei. They possess oppositely directed plasma jets emanating at near light speeds from accreting supermassive black holes. According to theoretical models, such jets are propelled by magnetic fields twisted by differential rotation of the black hole's accretion disk or inertial-frame-dragging ergosphere1, 2, 3. The flow velocity increases outward along the jet in an acceleration and collimation zone containing a coiled magnetic field4, 5. Detailed observations of outbursts of electromagnetic radiation, for which blazars are famous, can potentially probe the zone. It has hitherto not been possible to either specify the location of the outbursts or verify the general picture of jet formation. Here we report sequences of high-resolution radio images and optical polarization measurements of the blazar BL Lacertae. The data reveal a bright feature in the jet that causes a double flare of radiation from optical frequencies to TeV -ray energies, as well as a delayed outburst at radio wavelengths. We conclude that the event starts in a region with a helical magnetic field that we identify with the acceleration and collimation zone predicted by the theories. The feature brightens again when it crosses a standing shock wave corresponding to the bright 'core' seen on the images.

Multiobjective Optimization: Interactive and Evolutionary Approaches

Abstract: Basics on Multiobjective Optimization.- to Multiobjective Optimization: Noninteractive Approaches.- to Multiobjective Optimization: Interactive Approaches.- to Evolutionary Multiobjective Optimization.- Recent Interactive and Preference-Based Approaches.- Interactive Multiobjective Optimization Using a Set of Additive Value Functions.- Dominance-Based Rough Set Approach to Interactive Multiobjective Optimization.- Consideration of Partial User Preferences in Evolutionary Multiobjective Optimization.- Interactive Multiobjective Evolutionary Algorithms.- Visualization of Solutions.- Visualization in the Multiple Objective Decision-Making Framework.- Visualizing the Pareto Frontier.- Modelling, Implementation and Applications.- Meta-Modeling in Multiobjective Optimization.- Real-World Applications of Multiobjective Optimization.- Multiobjective Optimization Software.- Parallel Approaches for Multiobjective Optimization.- Quality Assessment, Learning, and Future Challenges.- Quality Assessment of Pareto Set Approximations.- Interactive Multiobjective Optimization from a Learning Perspective.- Future Challenges.

Multiple Criteria Decision Making, Multiattribute Utility Theory: Recent Accomplishments and What Lies Ahead

Abstract: This paper is an update of a paper that five of us published in 1992. The areas of multiple criteria decision making (MCDM) and multiattribute utility theory (MAUT) continue to be active areas of management science research and application. This paper extends the history of these areas and discusses topics we believe to be important for the future of these fields.

Preference for green packaging in consumer product choices – Do consumers care?

Abstract: In this paper, consumer environmental choice is studied by analysing the relative importance of green packaging when compared with other relevant product attributes. The empirical study is based on a choice-based conjoint analysis of preferences for functional drink products of a sample of 330 consumers using these products. Our choice-based approach on environmental behaviour brings new insights to previous research, which predominantly relies on attitude models. Results indicate that consumers differ in their preferences for packaging, brand, price and convenience of use of daily products. In addition, various distinctive consumer segments can be identified on the market. Contrary to several previous studies, we found that the largest consumer segment, one-third of consumers, favoured environmentally labelled packaging as the most important criteria in their choice. The findings emphasize the increasing importance of ethical and environmental dimension in product choices. We also propose that the attention in environmental consumer research should be shifted from general attitude studies towards the study of actual product choices.

The effect of governance modes and relatedness of external business development activities on innovative performance

Abstract: This study examines how different governance modes for external business development activities and venture relatedness affect a firm's innovative performance. Building on research suggesting that interorganizational relationships enhance the innovative performance of firms, we propose that governance modes and venture relatedness interact in their effect on innovative performance. Analyzing a panel of the largest firms in four information and communication technology sectors, we find that degree of relatedness for corporate venture capital investments, alliances, joint ventures, and acquisitions influences their impact on innovative performance. Copyright © 2008 John Wiley & Sons, Ltd.

The Dynamic Pivot Mechanism

Abstract: We consider truthful implementation of the socially efficient allocation in an independent private-value environment in which agents receive private information over time. We propose a suitable generalization of the pivot mechanism, based on the marginal contribution of each agent. In the dynamic pivot mechanism, the ex-post incentive and ex-post participation constraints are satisfied for all agents after all histories. In an environment with diverse preferences it is the unique mechanism satisfying ex-post incentive, ex-post participation and efficient exit conditions. We develop the dynamic pivot mechanism in detail for a repeated auction of a single object in which each bidder learns over time her true valuation of the object. We show that the dynamic pivot mechanism is equivalent to a modified second price auction.

Qualitative management accounting research: rationale, pitfalls and potential

Abstract: Purpose – The paper aims to provide an overview of the rationale for qualitative research in management accounting. It discusses how qualitative research could serve the development of theory, and provides guiding principles for qualitative investigation. It also seeks to identify common problems in qualitative studies and lays out avenues for further qualitative inquiry.Design/methodology/approach – The paper relies on critical reflection and deductive logic in its discussion, drawing on a wide range of theoretical pronouncements and methodological literature, as well as on some illustrative field studies in management accounting.Findings – The paper opens a broad panorama: it emphasizes field research as a necessary counterweight to textbook appreciations of management accounting, to idealized economic models and to consultancy‐oriented agenda. It identifies how field research serves theory development in different ways, providing a set of practical principles which assist qualitative efforts. The paper...

Do Investors Overweight Personal Experience? Evidence from IPO Subscriptions

Abstract: We find a strong positive link between past IPO returns and future subscriptions at the investor level in Finland. Our setting allows us to trace this effect to the returns personally experienced by investors; the effect is not explained by patterns related to the IPO cycle, or wealth effects. This behavior is consistent with reinforcement learning, where personally experienced outcomes are overweighted compared to rational Bayesian learning. The results provide a microfoundation for the argument that investor sentiment drives IPO demand. The paper also contributes to understanding how popular investment styles develop, and has implications for the marketing of financial products.

An empirical investigation of mobile ticketing service adoption in public transportation

Abstract: In this paper, we present results from a study of mobile ticketing service adoption in public transportation The theoretical background of the study is based on technology adoption and trust theories, which are augmented with concepts of mobile use context and mobility Our empirical findings from analyses of a survey data suggest that compatibility of the mobile ticketing service with consumer behavior is a major determinant of adoption Mobility and contextual factors, including budget constraints, availability of other alternatives, and time pressure in the service use situation were also found to have a strong effect on the adoption decision Our findings suggest that contextual and mobile service-specific features are important determinants of mobile service adoption and should thus be integrated into the traditional adoption models

Determinants of Auditor Choice: Evidence from a Small Client Market

Abstract: This paper analyzes the auditor choices for a sample of 2,333 predominantly small and mid-sized Finnish firms. Finland requires virtually all commercial enterprises to have a financial statement audit, but allows the smallest firms to choose from four types of audit firms: first tier international firms, first tier national firms, second tier local auditors and non-certified auditors. We find that among the smallest firms, the choice to hire a certified auditor relates to the level of complexity in the organization as measured by size and extent of workforce. For firms that must use a certified auditor, we find that the choice between a first tier and second tier firm is related to size, the extent of debt financing, and complexity associated with being a member of an associated group. Finally, in the upper end of the market, the decision to hire a large international firm relates to size, the need for financing, be it equity or debt, and complexity due to a broad labour force. This pattern is interesting because it indicates that the need for a higher quality auditor is driven first by complexity, then as the firm grows, it is supplemented by the use of debt financing and ultimately by the need to raise equity as well as debt financing.

How Much Does Expertise Reduce Behavioral Biases? The Case of Anchoring Effects in Stock Return Estimates

Abstract: We use data from surveys involving 300 Scandinavian financial market professionals and 213 university students to conduct three controlled experiments in which we manipulate the background information given to subjects. We find a very large anchoring effect in the students' long-term stock return expectations, that is, their estimates are influenced by an initial starting value. Professionals show a much smaller anchoring effect, but it nevertheless remains statistically and economically significant, even when we restrict the sample to more experienced professionals. We also find that the professionals are not conscious of the impact of historical returns on their expectations.

Design of emerging digital services: a taxonomy

Abstract: There has been a gigantic shift from a product based economy to one based on services, specifically digital services. From every indication it is likely to be more than a passing fad and the changes these emerging digital services represent will continue to transform commerce and have yet to reach market saturation. Digital services are being designed for and offered to users, yet very little is known about the design process that goes behind these developments. Is there a science behind designing digital services? By examining 12 leading digital services, we have developed a design taxonomy to be able to classify and contrast digital services. What emerged in the taxonomy were two broad dimensions; a set of fundamental design objectives and a set of fundamental service provider objectives. This paper concludes with an application of the proposed taxonomy to three leading digital services. We hope that the proposed taxonomy will be useful in understanding the science behind the design of digital services.

Data Envelopment Analysis as Nonparametric Least Squares Regression

Abstract: Data Envelopment Analysis (DEA), a nonparametric mathematical programming approach to productive efficiency analysis, envelops all observed data. In this paper we show that DEA can be interpreted as nonparametric least squares regression subject to shape constraints on frontier and sign constraints on residuals, and that classic parametric programming model is a constrained special case of DEA. Applying these insights, we present a nonparametric variant of the corrected ordinary least squares (COLS) method. We show that this new method, which we term corrected concave nonparametric least squares (C2NLS) is consistent and asymptotically unbiased. The linkages established in this paper contribute to further integration of the econometric and linear programming approaches.

The psychophysiology of James Bond: phasic emotional responses to violent video game events

Abstract: The authors examined emotional valence- and arousal-related phasic psychophysiological responses to different violent events in the first-person shooter video game "James Bond 007: NightFire" among 36 young adults. Event-related changes in zygomaticus major, corrugator supercilii, and orbicularis oculi electromyographic (EMG) activity and skin conductance level (SCL) were recorded, and the participants rated their emotions and the trait psychoticism based on the Psychoticism dimension of the Eysenck Personality Questionnaire--Revised, Short Form. Wounding and killing the opponent elicited an increase in SCL and a decrease in zygomatic and orbicularis oculi EMG activity. The decrease in zygomatic and orbicularis oculi activity was less pronounced among high Psychoticism scorers compared with low Psychoticism scorers. The wounding and death of the player's own character (James Bond) elicited an increase in SCL and zygomatic and orbicularis oculi EMG activity and a decrease in corrugator activity. Instead of joy resulting from victory and success, wounding and killing the opponent may elicit high-arousal negative affect (anxiety), with high Psychoticism scorers experiencing less anxiety than low Psychoticism scorers. Although counterintuitive, the wounding and death of the player's own character may increase some aspect of positive emotion.

Time-dependent density-functional theory in the projector augmented-wave method.

Abstract: We present the implementation of the time-dependent density-functional theory both in linear-response and in time-propagation formalisms using the projector augmented-wave method in real-space grids. The two technically very different methods are compared in the linear-response regime where we found perfect agreement in the calculated photoabsorption spectra. We discuss the strengths and weaknesses of the two methods as well as their convergence properties. We demonstrate different applications of the methods by calculating excitation energies and excited state Born–Oppenheimer potential surfaces for a set of atoms and molecules with the linear-response method and by calculating nonlinear emission spectra using the time-propagation method.

Straddling between paradigms: A naturalistic philosophical case study on interpretive research in management accounting

Abstract: This paper analyses interpretive research in management accounting from the perspective of naturalistic philosophy of science. We focus on the relation of interpretive research to the subjective/objective dichotomy appearing in the methodological literature of the social sciences. In management accounting research, it is often routinely assumed that interpretive studies, following the reasoning by Burrell and Morgan [Burrell, G., & Morgan. G. (1979). Sociological paradigms and organisational analysis. London: Heinemann], are based on subjectivism only. The major purpose of this paper is to give flesh to the existing debates around the nature of interpretive research with the help of in depth analysis of one example of such research in management accounting. Since abstract and general philosophical arguments are often used merely to cloud more relevant case specific issues concerning the focus of explanation and the nature of empirical evidence offered, our analysis aims at providing conceptual tools for articulating with greater precision what is being asserted in a given study. The specific target of the examination is the interpretive study by Dent [Dent, J. F. (1991). Accounting and organisational cultures: A field study of the emergence of a new organisational reality. Accounting, Organisations and Society , 16 , 693–703], which is one of the highly appreciated and extensively quoted pieces of research picked from the interpretive management accounting literature. Our analysis indicates that though there certainly are, and needs to be, unique subjectivist features in interpretive studies as compared to more ‘objectivist’ approaches, there are also important similarities, and that the view of sociological paradigms as necessarily mutually exclusive does not hold water. Hence interpretive research straddles between paradigms. As we argue that interpretive studies, in addition to including subjectivist elements, also encompass objectivist features, we invert the typical social theory critique of ‘scientific’ (management) accounting research that it cannot be an objective ‘mirror of reality’ by claiming that interpretive studies cannot be exclusively subjectivist and still they remain theoretically relevant. Our philosophically tuned analysis explicates how concepts from different paradigms, such as interpretations, understanding meanings, and causality, can successfully co-exist and co-operate within a single study.

Global Sex Differences in Test Score Variability

Abstract: D o boys and girls differ in their intellectual and cognitive abilities and, if so, in what way? These questions have raised considerable debate, both in terms of average performance and in terms of variability around the average. Empirical research on gender differences in achievements produces mixed conclusions, with some evidence that favors boys and some that favors girls (1–4). In many countries, girls show superior performance in school examinations, which is also reflected in higher rates of attendance in tertiary education. In addition, girls have been improving their position relative to boys (5, 6). In countries with a more gender-equal culture, the gender gap that is usually in favor of boys in average mathematics test scores is erased or even reversed in favor of girls (7). At the same time, some research focuses on the notion that there are more males at the upper end of the distributions of educational and professional success (8). Oft-cited examples include there being more male than female Nobel Prize winners and the inequity of wages in the labor market in favor of males (9, 10). Studies of talented individuals who succeed at the very highest levels, especially in science, highlight substantial male overrepresentation (11). These outcomes can be generated by various kinds of distributions describing the educational and intellectual make-up of boys and girls. Differences in the gender composition of the high-scoring group can be a consequence of gender differences in the mean or variance of the test scores or both. Given that recent research has shown that gender

Prospect Theory and the Disposition Effect

Abstract: This paper shows that prospect theory is unlikely to explain the disposition effect. Prospect theory predicts that the propensity to sell a stock declines as its price moves away from the purchase price in either direction. Trading data, on the other hand, show that the propensity to sell jumps at zero return, but it is approximately constant over a wide range of losses, and increasing or constant over a wide range of gains. Further, the pattern of realized returns does not seem to stem from optimal after-tax portfolio rebalancing, a belief in mean-reverting returns, or investors acting on target prices.

Workplace Innovations and Employee Outcomes: Evidence from Finland

Abstract: In the recent literature on workplace innovations, two competing views stand out. One strand of literature emphasizes positive outcomes for employees in the form of increased discretion, improved job security, and enhanced job satisfaction. In turn, critics argue that workplace innovations lead to increased job intensity and mental strain, and compromise job security. We address these issues by using a representative data set on individual employees from Finland. Our results indicate that workplace innovations are mainly associated with beneficial outcomes for employees. They are consistent with the view that institutional features of the Finnish labor market may mediate the outcomes.

Social Influence and Consumption: Evidence from the Automobile Purchases of Neighbors

Abstract: This study analyzes the automobile purchase behavior of all residents of two Finnish provinces over several years. Using a comprehensive data set with location coordinates at the individual consumer level, it finds that the purchases of neighbors, particularly in the recent past and by those who are geographically most proximate, influence a consumer's purchases of automobiles. There is little evidence that emotional biases, like envy, account for the observed social influence on consumption.

Hegemonic Academic Practices: Experiences of Publishing from the Periphery

Abstract: Drawing on a reflexive account of a British—Finnish joint publishing experience, we suggest that institutions of academic publishing are constantly reproduced through hegemonic practices that serve to maintain and reinforce core-periphery relations between the Anglophone core and peripheral countries such as Finland. The wider academic milieu with its taxonomies of academic performance and journal quality serves to perpetuate these practices. This results in academic researchers from the periphery contributing to `othering' within the publishing process.