-
作者：Ramalingam, Abhijit; Rauh, Michael T.
作者单位：University of East Anglia; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Why do firms exist? What is their function? What do managers do? What is the role, if any, of social motivation in the market? In this paper, we address these questions with a new theory of the firm, which unites some major themes in management, principal-agent theory, and economic sociology. We show that although the market is a superior incentive mechanism, the firm has a comparative advantage with respect to social motivation. We then show that the market is efficient in environments that f...
-
作者：Bhaskaran, Sreekumar; Ramachandran, Karthik; Semple, John
作者单位：Southern Methodist University
摘要：We consider a dynamic inventory (production) model with general convex order (production) costs and excess demand that can be accepted or refused by the firm. Excess demand that is accepted is backlogged and results in a backlog cost whereas demand that is refused results in a lost sales charge. Endogenizing the sales decision is appropriate in the presence of general convex order costs so that the firm is not forced to backlog a unit whose subsequent satisfaction would reduce total profits. I...
-
作者：Biais, Bruno; Bisiere, Christophe; Spatt, Chester
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite Federale Toulouse Midi-Pyrenees (ComUE); Universite Federale Toulouse Midi-Pyrenees (ComUE); Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Carnegie Mellon University
摘要：The competition between Island and Nasdaq at the beginning of the century offers a natural laboratory to study competition between and within trading platforms and its consequences for liquidity supply. Our empirical strategy takes advantage of the difference between the pricing grids used on Island and Nasdaq, as well as of the decline in the Nasdaq tick. Using the finer grid prevailing on their market, Island limit order traders undercut Nasdaq quotes, much more than they undercut one anothe...
-
作者：Fuchs, Erica; Kirchain, Randolph
作者单位：Carnegie Mellon University; Massachusetts Institute of Technology (MIT)
摘要：This paper presents a case study of the impact of manufacturing offshore on technology competitiveness in the optoelectronics industry. It examines a critical design/facility location decision being faced by optoelectronic component manufacturers. This paper uses a combination of simulation modeling and empirical data to demonstrate the economic constraints facing these firms. The results show that production location changes the relative production economics of the two competing designs-one e...
-
作者：Luchs, Ryan; Geylani, Tansev; Dukes, Anthony; Srinivasan, Kannan
作者单位：Duquesne University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Southern California; Carnegie Mellon University
摘要：The Robinson-Patman Act (RP), an antitrust statute aimed at protecting small businesses, limits price setting in distribution channels. To avoid costly penalties under RP, managers take a variety of precautions when pricing to retailers and wholesalers. But how likely is a court to find a defendant guilty of violating the RP? We find that this likelihood has dropped drastically as a result of recent Supreme Court rulings from more than 1 in 3 before 1993 to less than 1 in 20 for the period 200...
-
作者：Feng, Qi
作者单位：University of Texas System; University of Texas Austin
摘要：This paper examines an integrated decision-making process regarding pricing for uncertain demand and sourcing from uncertain supply, which are often studied separately in the literature. Our analysis of the integrated system suggests that the base stock list price policy fails to achieve optimality even under deterministic demand. Instead, the optimal policy is characterized by two critical values: a reorder point and a target safety stock. Under this policy, a positive order is issued if and ...
-
作者：Banciu, Mihai; Gal-Or, Esther; Mirchandani, Prakash
作者单位：Bucknell University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We consider a seller who owns two capacity-constrained resources and markets two products (components) corresponding to these resources as well as a bundle comprising the two components. In an environment where all customers agree that one of the two components is of higher quality than the other and that the bundle is of the highest quality, we derive the seller's optimal bundling strategy. We demonstrate that the optimal solution depends on the absolute and relative availabilities of the two...
-
作者：Sauermann, Henry; Cohen, Wesley M.
作者单位：University System of Georgia; Georgia Institute of Technology; National Bureau of Economic Research; Duke University
摘要：Economists studying innovation and technological change have made significant progress toward understanding firms' profit incentives as drivers of innovation. However, innovative performance in firms should also depend heavily on the pecuniary and nonpecuniary motives of the employees actually working in research and development. Using data on more than 1,700 Ph.D. scientists and engineers, we examine the relationships between individuals' motives (e. g., desire for intellectual challenge, inc...
