Medical regulation of cognitive enhancement devices: some concerns

The authors present a cogent and detailed case for altering the Medical Devices Directive to allow regulation of cognitive enhancement devices (CEDs). Protection against significant risk of harm, especially for the vulnerable, and promotion of benefit through informed use of CEDs are all good features of the proposal. However, the pre-market approval process has limitations, which we explore. We raise the possibility of ‘risk compensation’ in response to the introduction of safety measures, which could alter its effectiveness. The proposal alludes to use of ‘formally trained practitioners,’ which provide a further tier of regulation for CEDs within the proposal. We consider some positive and negative implications of this aspect of the proposal that might warrant further consideration.     

Entrepreneurship ecosystems: an agent-based simulation approach

Knowledge acquisition and development of capabilities constitutes a key perspective in studies regarding the formation of new ventures. When examining entrepreneurship ecosystems, we find that the composition of a region influences the new knowledge acquired by the venture. The main aim of this study is to examine the influence of the new venture, the entrepreneur’s social capital, and the firm performance on the new venture’s knowledge acquisition activities. In particular, the study examines how the institutional context of a region influences new ventures’ knowledge acquisition actions during its growth, and in turn the level of sustained entrepreneurial activity within the region. The paper focuses on the formation of alliances by new ventures, one particular form of knowledge acquisition process that has been established as critical to new venture success in the high technology sector. The mechanisms for acquiring and transforming knowledge have the greatest impact on new venture formation, and in this context, the concepts of strategic knowledge arbitrage and strategic knowledge serendipity (SKARSE?) are validated through an agent-based simulation model. The main results focus on the effects of interactions between entrepreneurs and institutions in the process of new venture formation from a knowledge creation, dissemination, and absorption perspective.     

The effect of misperception on strategic behavior in legislative settings: Social psychology meets rational choice

This paper is about the conditions under which simple social psychological processes can affect collective decisions. In rational choice theory, social psychological effects are said to cancel out, be randomized, or be corrected by communication. Yet as Janis and Mann (1977) argued, there are generally recurring conditions in which such factors influence individual decisions. The question is, Under what conditions can we expect these factors to affect collective decisions? This paper suggests a general approach to identifying the effects of strategic misperception, illustrates it with an example of a social psychological process that affects player perceptions, and describes the preference distributions in which this simple process would change majority voting outcomes. The general conclusion is that strategic misperception may affect majority decisions under so many distributions of preferences that decisions cannot be predicted from knowledge of actors' preferences alone.     

Sampling Increases Music Sales: An Empirical Copyright Study

The Supreme Court instructs that the most important consideration in analyzing fair use is the effect on the market for the original. Employing music sales data, this article presents evidence of digital sampling's effect on the sales of sampled songs. Our results indicate that a reassessment of fair use in the area of music sampling is needed since sales of sampled songs increased after being repurposed within new songs. These results are robust and highly statistically significant. Findings of this nature favor a judicial determination that sampling constitutes a fair use, even when considering the influence that a new work has on extant licensing markets for sample clearance. This article argues that the current sample–licensing market is a product of aberrant antisampling case law arising from a lack of relevant empirical data and nonutilitarian judicial opinions. As set forth herein, the goal of encouraging creative activity without hindering copyright owners’ capacity to financially gain from their work is served by implementing a limited presumption of fair use for sampling. The findings are further applicable outside of the fair use analysis, as the study is important in the private law when viewed through a law and strategy lens. Forward thinking music firms should reframe their approach by encouraging sampling of their works to secure cost‐free advertising and achieve a competitive advantage.     

Forensic Performance Analysis of Load‐Limiting Devices in Automotive Seat Belt Retractors

The introduction of frontal airbags and seatbelt pretensioners for front seat occupants provided an opportunity to address injuries caused by seatbelt loading by introducing load‐limiters, which were intended to reduce belt loading while maintaining proper restraint. Investigation and forensic analysis of real‐world crashes identified that the implementation of these devices, in some circumstances, increased the potential of injury. This paper focuses on the trade‐offs of load‐limiters, that is, the reduction loading to the occupant versus the corresponding increase in seatbelt webbing and occupant movement. If the additional webbing introduced is not controlled, the risk of injury to the occupant is increased and could result in more frequent and severe injuries rather than a reduction. This paper quantifies the webbing introduced by load‐limiter activation through forensic analysis of the seatbelt involved in real‐world crashes and testing and assesses its effect on the injuries sustained by the occupant.     

The Shifting Politics of Climate Science

The global warming controversy has experienced a tumultuous period, with the credibility of climate science repeatedly questioned and a lack of international solidarity on the issue. While climate science institutions have accomplished much in their history, the current impasse highlights the limits of previous approaches. Determined critics have contested the authority of established scientific institutions, which have failed to measure up to their mythic ideals. While the imperfections of climate science have exposed some avenues for reform, they also suggest that the public stands to benefit from a more accurate understanding of science as both a process and body of knowledge. Uncertain and incomplete knowledge need not be an obstacle for action, and climate science can be made more robust and credible if it is removed from the center of what are largely political disagreements.     

DETECHIP®: A Sensor for Drugs of Abuse*

Abstract: The design and preliminary characterization of a novel sensor for drugs of abuse, DETECHIP^®, is described in this proof‐of‐concept note. Combining both colorimetric and fluorimetric assays, DETECHIP^® is suitable for lab and field use. More than a conventional spot test which provides a single “yes or no” answer, DETECHIP^® provides twenty responses for a more complete characterization of suspect material. This is accomplished by visually noting colorimetric and fluorescent changes of carefully selected dyes upon the addition of test analytes, including drugs of abuse, with respect to controls. Color and fluorescence changes are recorded numerically so that a 20 digit identification code can be constructed for comparison of test analytes and known compounds. DETECHIP^® is applicable to a variety of drugs, both plant‐derived and synthetic, addressing the need to use several different spot tests simultaneously for a single sample.     

Agency and similarity effects and the VC’s attitude towards academic spin-out investing

Our research seeks to develop understanding of the factors explaining venture capital investment managers’ attitudes towards investment in the unique context of academic spin-outs. We provide a novel integration of both VC fund characteristics and investment managers’ human capital characteristics with a unique hand-collected dataset of 68 early stage VC investment managers in Europe. Attitudes toward academic spin-out investing are positively affected by the presence of public sector capital and by investment managers who are more intensively involved with the entrepreneur. Specific human capital in investment managers who had worked in an academic environment is more likely associated with investment in academic spin-outs. In terms of general human capital, financial experience is positively related while entrepreneurial experience is negatively associated with investment attitude towards academic spin-outs. There may be a need to facilitate the attraction of people from industry and investment banking into public VC funds in particular.