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作者：Liu, Qian; van Ryzin, Garrett J.
作者单位：Hong Kong University of Science & Technology; Columbia University
摘要：Dynamic pricing offers the potential to increase revenues. At the same time, it creates an incentive for customers to strategize over the timing of their purchases. A firm should ideally account for this behavior when making its pricing and stocking decisions. In particular, we investigate whether it is optimal for a firm to create rationing risk by deliberately understocking products. Then, the resulting threat of shortages creates an incentive for customers to purchase early at higher prices...
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作者：Chao, Raul O.; Kavadias, Stylianos
作者单位：University of Virginia; University System of Georgia; Georgia Institute of Technology
摘要：Developing the right new products is critical to firm success and is often cited as a key competitive dimension. This paper explores new product development (NPD) portfolio strategy and the balance between incremental and radical innovation. We characterize innovative effort through a normative theoretical framework that addresses a popular practice in NPD portfolio management: the use of strategic buckets. Strategic buckets encourage the division of the overall NPD resource budget into smalle...
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作者：Rahmandad, Hazhir; Sterman, John
作者单位：Virginia Polytechnic Institute & State University; Massachusetts Institute of Technology (MIT)
摘要：When is it better to use agent-based (AB) models, and when should differential equation (DE) models be used? Whereas DE models assume homogeneity and perfect mixing within compartments, AB models can capture heterogeneity across individuals and in the network of interactions among them. AB models relax aggregation assumptions, but entail computational and cognitive costs that may limit sensitivity analysis and model scope. Because resources are limited, the costs and benefits of such disaggreg...
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作者：Naik, Prasad A.; Prasad, Ashutosh; Sethi, Suresh P.
作者单位：University of California System; University of California Davis; University of Texas System; University of Texas Dallas
摘要：Companies spend hundreds of millions of dollars annually on advertising to build and maintain awareness for their brands in competitive markets. However, awareness formation models in the marketing literature ignore the role of competition. Consequently, we lack both the empirical knowledge and normative understanding of building brand awareness in dynamic oligopoly markets. To address this gap, we propose an N-brand awareness formation model, design an extended Kalman filter to estimate the p...
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作者：Tucker, Catherine E.
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Firms introducing network technologies ( whose benefits depend on who installs the technology) need to understand which user characteristics confer the greatest network benefits on other potential adopters. To examine which adopter characteristics matter, I use the introduction of a video-messaging technology in an investment bank. I use data on its 2,118 employees, their adoption decisions, and their 2.4 million subsequent calls. The video-messaging technology can also be used to watch TV. Ex...
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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 impact of strategic customer behavior on supply chain performance. We start with a newsvendor seller facing forward-looking customers. The seller initially charges a regular price but may salvage the leftover inventory at a lower salvage price after random demand is realized. Customers anticipate future sales and choose purchase timing to maximize their expected surplus. We characterize the rational expectations equilibrium, where we find that the seller's stocking level...
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作者：Hosanagar, Kartik; Chuang, John; Krishnan, Ramayya; Smith, Michael D.
作者单位：University of Pennsylvania; University of California System; University of California Berkeley; Carnegie Mellon University
摘要：Content delivery networks (CDNs) are a vital component of the Internet's content delivery value chain, servicing nearly a third of the Internet's most popular content sites. However, in spite of their strategic importance, little is known about the optimal pricing policies or adoption drivers of CDNs. We address these questions using analytic models of CDN pricing and adoption under Markovian traffic and extend the results to bursty traffic using numerical simulations. When traffic is Markovia...
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作者：Huh, Woonghee Tim; Janakiraman, Ganesh
作者单位：Columbia University; New York University
摘要：We study periodic-review inventory replenishment problems with fixed ordering costs, and show the optimality of (s, S) inventory replenishment policies. Inventory replenishment is instantaneous, i.e., the lead time is zero. We consider several sales mechanisms, e. g., auction mechanisms, name-your-own-price mechanisms, and multiple heterogeneous sales channels. We prove this result by showing that these models satisfy a recently-established sufficient condition for the optimality of (s, S) pol...
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作者：Olivares, Marcelo; Terwiesch, Christian; Cassorla, Lydia
作者单位：Columbia University; University of Pennsylvania; University of California System; University of California San Francisco
摘要：The newsvendor model captures the trade-off faced by a decision maker that needs to place a firm bet prior to the occurrence of a random event. Previous research in operations management has mostly focused on deriving the decision that minimizes the expected mismatch costs. In contrast, we present two methods that estimate the unobservable cost parameters characterizing the mismatch cost function. We present a structural estimation framework that accounts for heterogeneity in the uncertainty f...
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作者：Schmidt, Ulrich; Zank, Horst
作者单位：University of Kiel; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); University of Manchester
摘要：This paper characterizes the conditions for strong risk aversion and second-order stochastic dominance for cumulative prospect theory. Strong risk aversion implies a convex weighting function for gains and a concave one for losses. It does not necessarily imply a concave utility function. The latter does follow if the weighting functions are continuous. By investigating the exact relationship between loss aversion and strong risk aversion, a natural index for the degree of loss aversion is der...
