-
作者：Gamba, Andrea; Fusari, Nicola
作者单位：George Washington University; University of Verona; Universita della Svizzera Italiana; University of Geneva
摘要：We provide a general valuation approach for capital budgeting decisions involving the modularization in the design of a system. Within the framework developed by Baldwin and Clark (Baldwin, C. Y., K. B. Clark. 2000. Design Rules: The Power of Modularity. MIT Press, Cambridge, MA), we implement a valuation approach using a numerical procedure based on the least-squares Monte Carlo method proposed by Longstaff and Schwartz (Longstaff, F. A., E. S. Schwartz. 2001. Valuing American options by simu...
-
作者：Banal-Estanol, Albert; Ruperez Micola, Augusto
作者单位：City St Georges, University of London; Pompeu Fabra University
摘要：We use simulations to study how the diversification of electricity generation portfolios influences wholesale prices. We find that the relationship between technological diversification and market prices is mediated by the supply-to-demand ratio. In each demand case there is a threshold where pivotal dynamics change. Pivotal dynamics pre- and post-threshold are the cause of nonlinearities in the influence of diversification on market prices. The findings are robust to changes in the main marke...
-
作者：Asparouhova, Elena; Hertzel, Michael; Lemmon, Michael
作者单位：Utah System of Higher Education; University of Utah; Arizona State University; Arizona State University-Tempe
摘要：Using data generated from laboratory experiments, we test and compare the empirical accuracy of two models that focus on judgment errors associated with processing information from random sequences. We test for regime-shifting beliefs of the type theorized in Barberis et al. (Barberis, N., A. Shleifer, R. Vishny. 1998. A model of investor sentiment. J. Financial Econom. 49(3) 307-343) and for beliefs in the law of small numbers as modeled in Rabin (Rabin, M. 2002. Inference by believers in the...
-
作者：Franco, April M.; Sarkar, M. B.; Agarwal, Rajshree; Echambadi, Raj
作者单位：University of Toronto; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We extend the concept of first-mover advantage to the context of high-technology industries with multiple product generations, and propose that the notion of first-mover advantage needs to be viewed not only through a dynamic lens, but also in conjunction with technological capability. Our main finding is that first-mover advantages are best understood in tandem with the firm's technological capabilities; early entry is beneficial only for pioneers that are technically strong. However, pioneer...
-
作者：Jarnebrant, Peter; Toubia, Olivier; Johnson, Eric
作者单位：European School of Management & Technology; Columbia University
摘要：The silver lining effect predicts that segregating a small gain from a larger loss results in greater psychological value than does integrating them into a smaller loss. Using a generic prospect theory value function, we formalize this effect and derive conditions under which it should occur. We show analytically that if the gain is smaller than a certain threshold, segregation is optimal. This threshold increases with the size of the loss and decreases with the degree of loss aversion of the ...
-
作者：Narayanan, Sriram; Balasubramanian, Sridhar; Swaminathan, Jayashankar M.
作者单位：Michigan State University; Michigan State University's Broad College of Business; University of North Carolina; University of North Carolina Chapel Hill
摘要：Specialization at work has been recognized as a key driver of learning and productivity since the days of Adam Smith. More recently, researchers have noted that exposure to task variety can enhance learning. We examine how exposure to specialization and variety jointly drive employee productivity in a real-life setting. We analyze a data set covering 88 individuals who worked on 5,711 maintenance tasks in an offshore software support services operation. We find that, as expected, specializatio...
-
作者：Fay, Scott; Laran, Juliano
作者单位：Syracuse University; University of Miami
摘要：The seller's threshold price in name-your-own-price auctions varies over time. However, consumers must bid without knowing when these variations occur because the threshold price is unobservable to them. This paper uses an analytical model and laboratory auctions to explore how the frequency of changes in the threshold price impacts consumer bidding behavior in name-your-own-price auctions. In particular, we consider how the frequency of these expected changes affects the optimal pattern of bi...
-
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...
