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最新文章

• Intuitions about combining opinions: Misappreciation of the averaging principle AI翻译
  作者：Larrick, RP; Soll, JB
  作者单位：Duke University
  摘要：Averaging estimates is an effective way to improve accuracy when combining expert judgments, integrating group members' judgments, or using advice to modify personal judgments. If the estimates of two judges ever fall on different sides of the truth, which we term bracketing, averaging must outperform the average judge for convex loss functions, such as mean absolute deviation (MAD). We hypothesized that people often hold incorrect beliefs about averaging, falsely concluding that the average o...
• Supplier commitment and production decisions under a forecast-commitment contract AI翻译
  作者：Durango-Cohen, EJ; Yano, CA
  作者单位：Illinois Institute of Technology; University of California System; University of California Berkeley; Illinois Institute of Technology
  摘要：Manufacturing firms in capital-intensive industries face inherent demand volatility for their products and the inability to change their capacity quickly. To cope with these challenges, manufacturers often enter into contracts with their customers that offer greater certainty of supply in return for more predictable orders. In this paper, we study a forecast-commitment contract in which the customer provides a forecast, the supplier makes a production commitment to the customer based on the fo...
• In search of complementarity in innovation strategy: Internal R&D and external knowledge acquisition AI翻译
  作者：Cassiman, B; Veugelers, R
  作者单位：University of Navarra; IESE Business School; KU Leuven; Centre for Economic Policy Research - UK
  摘要：Empirical research on complementarity between organizational design decisions has traditionally focused on the question of existence of complementarity. In this paper, we take a broader approach to the issue, combining a productivity and an adoption approach, while including a search for contextual variables in the firm's strategy that affects complementarity. Analysis of contextual variables is not only interesting per se, but also improves the productivity test for the existence of complemen...
• Less likely to fail: Low performance, firm size, and factory expansion in the shipbuilding industry AI翻译
  作者：Audia, PG; Greve, HR
  作者单位：University of California System; University of California Berkeley; BI Norwegian Business School
  摘要：The behavioral theory of the firm and prospect theory predict that performance below an aspiration level increases risk taking, but researchers also propose that performance below an aspiration level decreases risk taking. These conflicting predictions primarily hinge on whether decision makers perceive negative performance as a repairable gap or as a threat to firm survival. This study examines a boundary condition of these conflicting predictions. We argue that a firm's resource endowment af...
• Multiplicative background risk AI翻译
  作者：Franke, G; Schlesinger, H; Stapleton, RC
  作者单位：University of Konstanz; University of Alabama System; University of Alabama Tuscaloosa; University of Manchester
  摘要：Although there has been much attention in recent years on the effects of additive background risks, the same is not true for its multiplicative counterpart. We consider random wealth of the multiplicative form i, where i and P are statistically independent random variables. We assume that x is endogenous to the economic agent but that P is an exogenous and nontraclable background risk that represents a type of market incompleteness. Our main focus is on how the presence of the multiplicative b...
• Pricing American-style derivatives with European call options AI翻译
  作者：Laprise, SB; Fu, MC; Marcus, SI; Lim, AEB; Zhang, HJ
  作者单位：Bae Systems; University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; University of California System; University of California Berkeley
  摘要：We present a new approach to pricing American-style derivatives that is applicable to any Markovian setting (i.e., not limited to geometric Brownian motion) for which European call-option prices are readily available. By approximating the value function with an appropriately chosen interpolation function, the pricing of an American-style derivative with arbitrary payoff function is converted to the pricing of a portfolio of European call options, leading to analytical expressions for those cas...
• Managing new and remanufactured products AI翻译
  作者：Ferrer, G; Swaminathan, JM
  作者单位：United States Department of Defense; United States Navy; Naval Postgraduate School; University of North Carolina; University of North Carolina Chapel Hill
  摘要：We study a firm that makes new products in the first period and uses returned cores to offer remanufactured products, along with new products, in future periods. We introduce the monopoly environment in two-period and multiperiod scenarios to identify thresholds in remanufacturing operations. Next, we focus our attention on the duopoly environment where an independent operator (10) may intercept cores of products made by the original equipment manufacturer (OEM) to sell remanufactured products...
• A contract and balancing mechanism for sharing capacity in a communication network AI翻译
  作者：Anderson, E; Kelly, F; Steinberg, R
  作者单位：University of New South Wales Sydney; University of Cambridge; University of Cambridge
  摘要：We propose a method for determining how much to charge users of a communication network when they share bandwidth. Our approach can be employed either when a network owner wishes to sell bandwidth for a specified period of time to a number of different users, or when users cooperate to build a network to be shared among themselves. Our proposed contract and balancing mechanism can mediate between rapidly fluctuating prices and the longer time scales over which bandwidth contracts may be traded...