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作者：Su, Xuanming; Zhang, Fuqiang
作者单位：University of California System; University of California Berkeley; Washington University (WUSTL)
摘要：This paper studies the role of product availability in attracting consumer demand. We start with a newsvendor model, but additionally assume that stockouts are costly to consumers. The seller sets an observable price and an unobservable stocking quantity. Consumers anticipate the likelihood of stockouts and determine whether to visit the seller. We characterize the rational expectations equilibrium in this game. We propose two strategies that the seller can use to improve profits: (i) commitme...
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作者：Zhang, Min; Batta, Rajan; Nagi, Rakesh
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：This paper discusses the notion of work flow congestion in the context of material handling equipment interruptions in a manufacturing or warehousing facility. Development of a combination of probabilistic and physics-based models for workflow interruptions permits evaluation of the expected link travel time. The problem is then of routing in a way that minimizes total expected travel time. The rerouting problem is modeled as a multicommodity flow problem with link capacity design. A greedy up...
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作者：Forman, Chris; Ghose, Anindya; Goldfarb, Avi
作者单位：University System of Georgia; Georgia Institute of Technology; New York University; University of Toronto
摘要：Our paper shows that the parameters in existing theoretical models of channel substitution such as offline transportation cost, online disutility cost, and the prices of online and offline retailers interact to determine consumer choice of channels. In this way, our results provide empirical support for many such models. In particular, we empirically examine the trade-off between the benefits of buying online and the benefits of buying in a local retail store. How does a consumer's physical lo...
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作者：Shugan, Steven M.; Mitra, Debanjan
作者单位：State University System of Florida; University of Florida
摘要：Good metrics are well-defined formulae (often involving averaging) that transmute multiple measures of raw numerical performance (e. g., dollar sales, referrals, number of customers) to create informative summary statistics (e. g., average share of wallet, average customer tenure). Despite myriad uses (benchmarking, monitoring, allocating resources, diagnosing problems, explanatory variables), most uses require metrics that contain information summarizing multiple observations. On this criteri...
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作者：Brynjolfsson, Erik; Hu, Yu (Jeffrey); Rahman, Mohammad S.
作者单位：Massachusetts Institute of Technology (MIT); Purdue University System; Purdue University; University of Calgary
摘要：A key question for Internet commerce is the nature of competition with traditional brick-and-mortar retailers. Although traditional retailers vastly outsell Internet retailers in most product categories, research on Internet retailing has largely neglected this fundamental dimension of competition. Is cross-channel competition significant, and if so, how and where can Internet retailers win this battle? This paper attempts to answer these questions using a unique combination of data sets. We c...
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作者：Novak, Sharon; Stern, Scott
作者单位：Massachusetts Institute of Technology (MIT); Northwestern University
摘要：This paper examines complementarity among vertical integration decisions in automobile product development. Though most research assumes that contracting choices are independent of each other, contracting complementarity arises when the returns to a single vertical integration decision are increasing in the level of vertical integration associated with other contracting choices. First, effective coordination may depend on the level of (noncontractible) effort on the part of each agent; contrac...
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作者：Villas-Boas, J. Miguel
作者单位：University of California System; University of California Berkeley
摘要：One important decision firms must make is to select the product line ( characteristics and number of products) to offer consumers. This paper explores the effect of the interaction between consumer evaluation costs and pricing on the optimal product line length to offer consumers. Before deciding to buy a product among all products offered, a consumer learns the product line length. Given the product line length, a consumer decides whether to evaluate the products available and their prices. T...
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作者：Federgruen, Awi; Yang, Nan
作者单位：Columbia University; Cornell University
摘要：We characterize the equilibrium behavior in a broad class of competition models in which the competing firms' market shares are given by an attraction model, and the aggregate sales in the industry depend on the aggregate attraction value according to a general function. Each firm's revenues and costs are proportional with its expected sales volume, with a cost rate that depends on the firm's chosen attraction value according to an arbitrary increasing function. Whereas most existing competiti...
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作者：Koijen, Ralph S. J.; Rodriguez, Juan Carlos; Sbuelz, Alessandro
作者单位：University of Chicago; Tilburg University; Catholic University of the Sacred Heart
摘要：We study a dynamic asset allocation problem in which stock returns exhibit short-run momentum and long-run mean reversion. We develop a tractable continuous-time model that captures these two predictability features and derive the optimal investment strategy in closed form. The model predicts negative hedging demands for medium-term investors, and an allocation to stocks that is nonmonotonic in the investor's horizon. Momentum substantially increases the economic value of hedging time variatio...
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作者：Tebbens, Radboud J. Duintjer; Thompson, Kimberly M.
作者单位：Harvard University; Harvard T.H. Chan School of Public Health; Delft University of Technology
摘要：Public health budget constraints force policy makers to prioritize resources toward those interventions that yield the highest perceived benefits. Intuitively, it appears optimal to focus resources on affordable interventions against prevalent diseases. However, due to the dynamics of infectious disease eradication, policies focusing on a static perception of priorities may lead to economically suboptimal outcomes. Using a hypothetical two-disease dynamic transmission model, we explore several...
