Publications as an entrepreneurial process in the game of ... · PDF filePublications as an...

Publications as an entrepreneurial process in the

game of academics: An introduction to game theory based on only true stories of academics!

By Professor Shyama V. Ramani @BBS Seminar

April 17, 2013 Shyama-Ramani@BBS-seminar-April-17-2013

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MEMBERS

Shyama-Ramani@BBS-seminar-April-17-2013

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How are all these linked to emerging markets?

Entrepreneurship

Innovation

Internationalisation Economic and Social Evolution

New Market Creation


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Who’s making a decision? Who’s got to make a strategic choice?


http://picasaweb.google.com/lh/photo/hIPe6licWFr8g9J38HjgRQ?authkey=Gv1sRgCOOJ_qnCoJfbNQ&feat=embedwebsite


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Difference between decision and strategy

• A decision is an action whose outcome depends only on the action of the agent concerned – it does not depend on the actions of other strategic players.

• A strategy is an action whose outcome depends not only on the action taken by the agent concerned but also the other strategic players in the game.

• The outcome of a strategy – depends on the strategy profile……the vector of actions chosen, one for each player in the game.


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Who’s this guy? (psss….he shares my birthday…)

Consider the world as an evolving game in a pond full of different kinds of fish and corals and

other animals……..


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• There is a system with a bunch of players

• Each of them has an objective to pursue.

• Each of them has a certain number of actions to choose from in a certain procedure.

• Each of them knows something about the others (endowment of actions, character etc. ) and the environment.

• Each of them has certain constraints.

• Each of them knows what is the outcome or probable outcomes of each of his/her actions.


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Now - can you predict which fish-group is going to get bigger or fatter?

Of course- It’s the fit – silly – the fit to the agent’s game-system – and not his/her capabilities, resources

or values…..though they do count…..


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John Nash A beautiful mind… at least along some dimensions.

John Nash…. Noble Laureate in

Economics

One of the best things that happened to economics….

A revolution in thinking..

Out goes ideology….

In comes quest to

understand strategic play..

Shyama V. Ramani, Jan 25-2011, Lecture 1 - Game Theory

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The Nash equilibrium …..it exists under very reasonable conditions….

So how can we find it ?….


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So you got it?

• Every academic runs a

micro-enterprise

Entrepreneurship – Let’s take the business of generating publications

• The process of starting

and running one’s own

business

Knowledge products

Knowledge services

= Publications

= Innovations in market for knowledge products

Every researcher is an entrepreneur

• Entrepreneurs make things happen.

• Entrepreneurs recognize opportunities.

• They are emotional and passionate.

• An entrepreneur is an

individual who undertakes

the risk associated with

creating, organizing, and owning a business (i.e. publications -stock)


The clients for our knowledge products…

4* journals

1* and oh my God…No star?!

No..NO….we don’t know you…

3* journals 2*

journals

Steps in the Entrepreneurial Process

1. Discovery

2. Concept

Development

3. Resourcing

4. Actualization

5. Harvesting

The game system of the researcher for the commercialization of his/her knowledge

products…


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Researcher

Friendly colleagues

Ph. D. student

School Management

Nice but confused referee

Nasty referee

Other smart researchers of the world

The star of the movie


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True story #1

The decision to make…


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Mathematical modelling

Handling quantitative data

All other

complexity

complexity True story #2

The market for academic knowledge

products… complexity sells…..


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All other

complexity

complexity

Why complexity sells…..

Multiple Chains Ruched Suedette Boots £5.00

Manolo Blahnik $14,000

http://www.everything5pounds.com/multiple-chains-ruched-suedette-boots-p-13784.html











Take heart : Where I am…


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All other

Complexity is favourable but

neither necessary nor sufficient for publication-

innovation success

True story #3 – The serial entrepreneur….………


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1. Discovery – Idea of Master’s Thesis – Year 1=Y1

2. Concept Development – Y2

- First failure

- Second quasi-success

4. Actualization

What it takes to be a good researcher-enterpreneur ? • Guts • Risk-taking attitude

• TRAINING • PERSISTENCE • Emotional strength • Passion

3. Resourcing – Got training in

econometrics – thanks to Ph.D.

Supervisor’s efforts!

5. Harvesting

- Third quasi-success

- Play of luck! WINNING!

2* Publication!


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Tut – tut ! No lunch – without hearing out the policy recommendation….………

1. To be a research intensive university, it is necessary to master complexity; 2. To master complexity one has to get training in it first; 3. This has to be in-depth and prolonged. 4. Then you have to practise it all the time.

5. The academic market has got more complex. 6. Both teachers and Ph.D. students have to be serial entrepreneurs. 7. A strong accompanying Ph.D. training program is good for both.


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Now lunch and then back to the battle….………

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