Intangible assetAn intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, as well as software. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). Intangible assets are usually very difficult to value. They suffer from typical market failures of non-rivalry and non-excludability. Today, a large part of the corporate economy (in terms of net present value) consists of intangible assets.
Information economicsInformation economics or the economics of information is the branch of microeconomics that studies how information and information systems affect an economy and economic decisions. One application considers information embodied in certain types of commodities that are "expensive to produce but cheap to reproduce." Examples include computer software (e.g., Microsoft Windows), pharmaceuticals, and technical books. Once information is recorded "on paper, in a computer, or on a compact disc, it can be reproduced and used by a second person essentially for free.
Information theoryInformation theory is the mathematical study of the quantification, storage, and communication of information. The field was originally established by the works of Harry Nyquist and Ralph Hartley, in the 1920s, and Claude Shannon in the 1940s. The field, in applied mathematics, is at the intersection of probability theory, statistics, computer science, statistical mechanics, information engineering, and electrical engineering. A key measure in information theory is entropy.
Signaling gameIn game theory, a signaling game is a simple type of a dynamic Bayesian game. The essence of a signalling game is that one player takes an action, the signal, to convey information to another player, where sending the signal is more costly if they are conveying false information. A manufacturer, for example, might provide a warranty for its product in order to signal to consumers that its product is unlikely to break down. The classic example is of a worker who acquires a college degree not because it increases their skill, but because it conveys their ability to employers.
Positive feedbackPositive feedback (exacerbating feedback, self-reinforcing feedback) is a process that occurs in a feedback loop which exacerbates the effects of a small disturbance. That is, the effects of a perturbation on a system include an increase in the magnitude of the perturbation. That is, A produces more of B which in turn produces more of A. In contrast, a system in which the results of a change act to reduce or counteract it has negative feedback. Both concepts play an important role in science and engineering, including biology, chemistry, and cybernetics.
Digital signalA digital signal is a signal that represents data as a sequence of discrete values; at any given time it can only take on, at most, one of a finite number of values. This contrasts with an analog signal, which represents continuous values; at any given time it represents a real number within a continuous range of values. Simple digital signals represent information in discrete bands of analog levels. All levels within a band of values represent the same information state.
Notch signaling pathwayThe Notch signaling pathway is a highly conserved cell signaling system present in most animals. Mammals possess four different notch receptors, referred to as NOTCH1, NOTCH2, NOTCH3, and NOTCH4. The notch receptor is a single-pass transmembrane receptor protein. It is a hetero-oligomer composed of a large extracellular portion, which associates in a calcium-dependent, non-covalent interaction with a smaller piece of the notch protein composed of a short extracellular region, a single transmembrane-pass, and a small intracellular region.
Social stratificationSocial stratification refers to a society's categorization of its people into groups based on socioeconomic factors like wealth, income, race, education, ethnicity, gender, occupation, social status, or derived power (social and political). As such, stratification is the relative social position of persons within a social group, category, geographic region, or social unit. In modern Western societies, social stratification is typically defined in terms of three social classes: the upper class, the middle class, and the lower class; in turn, each class can be subdivided into the upper-stratum, the middle-stratum, and the lower stratum.
Organizational cultureHistorically there have been differences among investigators regarding the definition of organizational culture. Edgar Schein, a leading researcher in this field, defined "organizational culture" as comprising a number of features, including a shared "pattern of basic assumptions" which group members have acquired over time as they learn to successfully cope with internal and external organizationally relevant problems. Elliott Jaques first introduced the concept of culture in the organizational context in his 1951 book The Changing Culture of a Factory.
History of private equity and venture capitalThe history of private equity and venture capital and the development of these asset classes has occurred through a series of boom-and-bust cycles since the middle of the 20th century. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel, although interrelated tracks. Since the origins of the modern private equity industry in 1946, there have been four major epochs marked by three boom and bust cycles.
