A chance-constrained multiobjective model for mental health services planning.

Mental health services planning, and particularly the planning for deinstitutionalization, is a very complex problem. This paper suggests a chance-constrained goal programming (CCGP) approach to mental health services planning. The CCGP approach is based on the sequential solution of a linear programming formulation, allowing efficient solution of large-scale planning problems using commercially available linear programming computer codes. The procedure is demonstrated with a case example and implementation of the approach is discussed.     

The exploitation of fossil fuels under the threat of global warming and carbon taxes: A dynamic game approach

This paper considers efficient and monopolistic extraction of non-renewable (energy) resources when the resource consumption leads simultaneously to a stock externality (global warming). The case of monopolistic supply leads to a dynamic game between cartelised producers and a consumers' government. For this game, we compute linear Markov perfect strategies that are characterized by preemption of the tax at the wellhead (when compared with the open loop solution). Unfortunately, the general, asymmetric two-state variable model does not allow for an explicit analytical solution. Therefore, a simplified version with one state variable (neglecting depreciation of the stock of the pollutant) is studied and a numerical example is presented. It turns out that the simplified and analytically solved framework provides a good approximation of the initial phase of the transient behaviour but not of the long run.     

Opening the Black Box: Power in Buyout Negotiations and the Moderating Role of Private Equity Specialization

The management buyout is an important exit strategy for small business owners. Negotiations of buyout deals have received little research attention to date. This is surprising given buyout negotiations' complexity giving rise to multiple issues that require consideration and often conflicting interests of deal parties. This paper examines perceived bargaining power in buyout negotiations between private equity (PE) firms and current owners who sell their business. We identify competition, expertise, and time pressure as key antecedents of PE firms’ perceived bargaining power and examine the moderating effect of PE firms' industry and size specialization in buyout negotiations. We use a sample of 176 respondents who each report on a particular buyout deal for a PE firm. The majority of respondents are seasoned PE professionals who held managing director or investment director positions.     

Open data for open innovation: managing absorptive capacity in SMEs

Open Data (OD) utilisation has been encouraged by governments because of its potential to fuel digital innovation. Despite this, there is a paucity of study into the role of OD for SMEs, in contrast to the growing literature that has focused on the collection and sharing of OD by the public sector. As such, our study contributes to open innovation research by analysing the main capabilities needed to overcome existing barriers to successfully manage OD in SMEs. Building upon the recent SME-oriented OI literature and adopting an interpretative absorptive capacity framework, we analyse the data collected from 30 semi-structured interviews with experts working in UK organisations adopting OD-based OI strategies. We find a number of core factors that shape OD acquisition, assimilation, transformation and exploitation by SMEs. Results show that without the specific OD capabilities identified in our study, it will be difficult for SMEs to successfully use OD, which may explain why the uptake of OD by SMEs more broadly has so far been limited. These unique OD capabilities need to be better developed by OD using SMEs, if this ‘raw material’ for the digital economy is to be fully exploited.