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作者：Zhang, Hao; Kong, Guangwen; Rajagopalan, Sampath
作者单位：University of British Columbia; University of Minnesota System; University of Minnesota Twin Cities
摘要：We investigate the performance of two commonly used pricing schemes-hourly-rate contract and two-part tariff-in service environments where the buyer's valuation is invisible to the service provider and the provider's effort may not be visible to the buyer. In the private effort environment, we further distinguish between situations where the contract may be based on the outcome or on the effort reported by the provider. We show that under the two-part tariff, when effort is private, the provid...
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作者：Kuruzovich, Jason; Etzion, Hila
作者单位：Rensselaer Polytechnic Institute; University of Michigan System; University of Michigan
摘要：The Internet enables sellers to offer products through multiple channels simultaneously. In particular, many sellers utilize online auctions in parallel to an offline channel in which they offer the item for a fixed price. Using search theory, we develop an analytical model for studying sellers' pricing decisions and auction outcomes in the context of such multichannel retailing. Our analytical model provides a framework for studying how characteristics of the demand in an offline retail sales...
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作者：Ebert, Sebastian; Nocetti, Diego C.; Schlesinger, Harris
作者单位：Frankfurt School Finance & Management; Tilburg University; Clarkson University; University of Alabama System; University of Alabama Tuscaloosa
摘要：A large strand of research has identified when (i) a single risk is undesirable and (ii) two independent risks aggravate each other. We extend this line of inquiry by establishing when (iii) mutual aggravation is greater for greater risks. This natural property of greater mutual aggravation explains recent experimental findings on higher-order risk preferences, and can guide managerial behavior when risks in the decision environment become more severe.
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作者：Ramdas, Kamalini; Saleh, Khaled; Stern, Steven; Liu, Haiyan
作者单位：University of London; London Business School; Detroit Medical Center; State University of New York (SUNY) System; Stony Brook University; State University System of Florida; University of South Florida
摘要：We use a unique, hand-collected data set to examine learning and forgetting in hip replacement surgery as a function of a surgeon's experience with specific surgical device versions and the time between their repeat uses. We also develop a generalizable method to correct for the left censoring of device-version-specific experience variables that is a common problem in highly granular experience data, using maximum simulated likelihood estimation with simulation over unobservables conditional o...
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作者：Koerpeoglu, Ersin; Cho, Soo-Haeng
作者单位：University of London; University College London; Carnegie Mellon University
摘要：In a contest in which solvers with heterogeneous expertise exert effort to develop solutions, a recent paper [Terwiesch C, Xu Y (2008) Innovation contests, open innovation, and multiagent problem solving. Management Sci. 54(9):1529-1543] argues that as more solvers enter the contest, every solver will reduce effort due to a lower probability of winning the contest. This paper corrects mistakes in this theory, and shows that there exist high-expertise solvers who may raise their effort in respo...
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作者：Fisher, Marshall; Gallino, Santiago; Li, Jun
作者单位：University of Pennsylvania; Dartmouth College; University of Michigan System; University of Michigan
摘要：A retailer following a competition-based dynamic-pricing strategy tracks competitors' price changes and then must answer the following questions: (i) Should we respond? (ii) If so, to whom? (iii) How much of a response? (iv) And on which products? The answers require unbiased measures of price elasticity as well as accurate estimates of competitor significance and the extent to which consumers compare prices across retailers. There are two key challenges to quantify these factors empirically: ...
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作者：Kontek, Krzysztof; Lewandowski, Michal
作者单位：Warsaw School of Economics
摘要：First, this paper introduces and axiomatizes range-dependent utility as a new conceptual framework for decision making under risk. It is a simple and well-defined generalization of expected utility theory in which utility depends on the range of lottery outcomes. Second, a special case of this framework is proposed for prediction. It is based on applying a single utility function (decision utility) to every normalized lottery range. The resultant decision utility model predicts well-known expe...
