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作者：Han, Bing; Hong, Dong; Warachka, Mitch
作者单位：University of Texas System; University of Texas Austin; Singapore Management University
摘要：We demonstrate that stock price momentum and earnings momentum can result from uncertainty surrounding the accuracy of cash flow forecasts. Our model has multiple information sources issuing cash flow forecasts for a stock. The investor combines these forecasts into an aggregate cash flow estimate that has minimal mean-squared forecast error. This aggregate estimate weights each cash flow forecast by the estimated accuracy of its issuer, which is obtained from their past forecast errors. Momen...
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作者：Ding, Min; Park, Young-Hoon; Bradlow, Eric T.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Cornell University; University of Pennsylvania
摘要：We propose a new alternative preference measurement method, barter conjoint, to contrast with traditional choice-based conjoint (CBC) approaches. Barter conjoint collects a substantially larger amount of data compared to CBC and allows for information diffusion among respondents. We conducted two empirical studies that compare CBC (with and without incentive alignment) and barter conjoint. The studies employed a total of three product categories, each with two validation tasks (one follows imm...
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作者：Anderson, Eric T.; Dana, James D., Jr.
作者单位：Northwestern University; Northeastern University; Northeastern University
摘要：We consider a general model of monopoly price discrimination and characterize the conditions under which price discrimination is and is not profitable. We show that an important condition for profitable price discrimination is that the percentage change in surplus (i.e., consumers' total willingness to pay, less the firm's costs) associated with a product upgrade is increasing in consumers' willingness to pay. We refer to this as an increasing percentage differences condition and relate it to ...
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作者：Boulding, William; Christen, Markus
作者单位：Duke University; INSEAD Business School
摘要：Previous research suggests firms can build a market share advantage by preempting later entrants with a broad product line and expanding rapidly into related markets. Whether such a strategy leads to a pioneering profit advantage relative to followers also depends on its cost effects. In this paper, we examine when the market share advantage of a pioneering firm with a broad product line strategy translates into a profit advantage by examining the cost effects of this strategy. Using the profi...
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作者：Jayanthi, Shekhar; Roth, Aleda V.; Kristal, Mehmet M.; Venu, Lauren Carter-Roth
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; Clemson University; York University - Canada
摘要：We conceptualize strategic decision-making processes within a manufacturing firm as streams of resources allocated to short-and long-term changes. The analogous ecological model, referred to as the Lotka-Volterra model, captures this dynamic tension between decisions made by the firm and its manufacturing operations. This representation leads to evolutionarily stable manufacturing strategies (ESMSs), which contribute to a firm's competitive advantage in different ways. Using a random sample of...
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作者：Overby, Eric; Jap, Sandy
作者单位：University System of Georgia; Georgia Institute of Technology; Emory University
摘要：Many markets that have traditionally relied on collocation of buyers, sellers, and products have introduced electronic channels. Although these electronic channels may provide benefits to buyers and sellers by lowering the transaction costs of participating in the market, there are trade-offs related to quality uncertainty and increased risk that may limit the adoption of the electronic channels. As a result, buyers and sellers use physical channels for some transactions and electronic channel...
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作者：Milkman, Katherine L.; Rogers, Todd; Bazerman, Max H.
作者单位：Harvard University
摘要：We report on a field study demonstrating systematic differences between the preferences people anticipate they will have over a series of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the film rental and return patterns of a sample of online DVD rental customers over a period of four months. We predict and find that should DVDs (e. g., documentaries) are held significantly longer than want DVDs (e. g., action films)...
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作者：Joshi, Yogesh V.; Reibstein, David J.; Zhang, Z. John
作者单位：University System of Maryland; University of Maryland College Park; University of Pennsylvania
摘要：Firms routinely face the challenging decision of whether to enter a new market where a firm's strong presence in an existing market has a positive influence (the leverage effect) on product adoption in the new market, but the reciprocal social influence on the existing market is negative (the backlash effect). In this paper, we show that a firm's optimal entry strategy in this situation cannot be characterized by the familiar now or never or now or at maturity strategies proposed in the litera...
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作者：Basak, Gopal K.; Jagannathan, Ravi; Ma, Tongshu
作者单位：Indian Statistical Institute; Indian Statistical Institute Kolkata; Northwestern University; National Bureau of Economic Research; State University of New York (SUNY) System; Binghamton University, SUNY
摘要：We develop a jackknife estimator for the conditional variance of a minimum tracking error variance portfolio constructed using estimated covariances. We empirically evaluate the performance of our estimator using an optimal portfolio of 200 stocks that has the lowest tracking error with respect to the S&P 500 benchmark when three years of daily return data are used for estimating covariances. We find that our jackknife estimator provides more precise estimates and suffers less from in-sample o...
