Firms strive hard to achieve a high degree of efficiency on the production frontier, and it is where they compete to excel with their competitors. It is observed from previous studies that standardizing some policies and developing strategies could bring efficiency in production of manufacturing firms. New approaches to the measurement of productive efficiencies are being developed, and analysis of the subject is growing exponentially, since firms are now more concerned about the productivity frontier, besides others. This paper analyzes the (...) necessary factors that contribute to the productive efficiency of an organization. A simple model of production function is constructed to understand its essence and thus contributes to the development of a new ratio that defines productive efficiency in terms of maximization of the efficiency factor that is a common issue in industrial and manufacturing organizations. (shrink)

For this study, we have considered Facebook Marketplace (FBM) to understand how knowledge from the social networking world affects consumer choice and behavior, ie, users' economic decisions.[...] the FBM could be considered as a digital socioeconomic system where availability of digital trace data from user interactions would enable studies of population-level human interactions (Sundararajan et al., 2013).

This paper is an attempt to understand how social knowledge affects human economic decision making. The paper discusses the nature of social knowledge in today’s context with special reference to how social knowledge influences consumers’ sentiments and their economic decisions. Social networks are being continuously flooded with various kinds of information and disinformation. Some of the information becomes knowledge for social network users who browse various kinds of content that are either entertaining or related to products and marketing. Although reliability (...) remains a critical issue regarding online information from social networks, it, however, provides some knowledge about diverse things, goods, and products being in use in different societies around the world. Some products advertised on social networks like Facebook may affect consumer decisions or provide information about new products. This paper presents a formal discussion on what social knowledge is and how it is originated, and what use it might have for such consumers. The paper designs a simplistic mathematical model for a theoretical understanding of the assumption that has practical implications regarding its utility in society. It is found that social networks generate enough social information that can influence user choice and preferences. The study has implications for both the users and the developers of social networking sites. (shrink)

Public Libraries (PLs) continue to contribute a great deal to user education in local communities. This paper analyzes the importance of PLs in driving community literacy through promotion of user education for the progressive improvement of the society. The paper stresses the relevance and value of PLs by reassessing the benefits they accrue by analyzing the impact of PLs on community and social education. As indigenous knowledge repositories, PLs play a significant role as community information service providers by driving community (...) literacy. The goal of this paper is to analyze the role played by PLs in driving community education and promoting information literacy in the society. PLs, being storehouses of knowledge, support user education by undertaking active part in community information services. The model helps in explaining and analyzing the efficiency of information search and retrieval process in PLs and how it affects user education and community literacy. The paper also discusses the relevance and value of PLs in this age of digital technology. The findings reinforce the claim that PLs are relevant even in this digital age, and they indeed support user education for the progressive improvement of the society. (shrink)