-
作者：Zhao, H; Deshpande, V; Ryan, JK
作者单位：Purdue University System; Purdue University; University of Notre Dame
摘要：An increasing number of manufacturers have started to pursue a strategy that promotes inventory sharing among the dealers in their distribution network. In this paper we analyze a decentralized dealer network in which each independent dealer is given the flexibility to share his inventory. We model inventory sharing as a multiple demand classes problem in which each dealer faces his own customer demand with high priority, and inventory-sharing requests from other dealers with low priority. Ass...
-
作者：Terwiesch, C; Savin, S; Hann, IH
作者单位：University of Pennsylvania; Columbia University; University of Southern California
摘要：We present a formal model of haggling between a name-your-own-price retailer and a set of individual buyers. Rather than posting a price, the retailer waits for potential buyers to submit offers for a given product and then chooses to either accept or reject them. Consumers whose offers have been rejected can invest in additional haggling effort and increment their offers. This pricing model allows the name-your-own-price retailer to engage in price discrimination: As haggling is costly for th...
-
作者：Chen, FR
作者单位：Columbia University
摘要：Salespeople are the eyes and ears of the firms they serve. They possess market knowledge that is critical for a wide range of decisions. A key question is how a firm can provide incentives to its salesforce so that it is in their interest to truthfully disclose their information about the market and to work hard. Many people have considered this question and provided solutions. Perhaps the most well-known solution is due to Gonik (1978), who proposed and implemented a clever scheme designed to...
-
作者：Anderson, SW; Dekker, HC
作者单位：Rice University; University of Melbourne; Vrije Universiteit Amsterdam
摘要：Using an unusually comprehensive database on 858 transactions for information technology products and accompanying services, we study how close partners who are exposed to opportunistic hazards structure and control a significant transaction. We analyze data on the terms of contracting to determine whether transaction and supplier characteristics that generate opportunistic hazards are related to the formal management control structure. We also examine whether misalignment between transaction ...
-
作者：Best, MJ; Hlouskova, J
作者单位：University of Waterloo
摘要：We consider the problem of maximizing an expected utility function of n assets, such as the mean-variance or power-utility function. Associated with a change in an asset's holdings from its current or target value is a transaction cost. This cost must be accounted for in practical problems. A straightforward way of doing so results in a 3n-dimensional optimization problem with 3n additional constraints. This higher dimensional problem is computationally expensive to solve. We present a method ...
-
作者：Wee, KE; Dada, M
作者单位：Singapore Management University; Purdue University System; Purdue University
摘要：Motivated by recent reports of improved customer service facilitated by the use of transshipment to pool inventory, we develop a formal model that focuses on the role of transshipment in a system of n-retailers who stock a good. In addition, some stock may be kept at a warehouse. If a retailer faces a stockout, he makes an attempt to fill backorders by using a transshipment that may come either from the warehouse or from another retailer that has excess stock. We determine that the optimal tra...
-
作者：Cachon, GP; Lariviere, MA
作者单位：University of Pennsylvania; Northwestern University
摘要：Under a revenue-sharing contract, a retailer pays a supplier a wholesale price for each unit purchased, plus a percentage of the revenue the retailer generates. Such contracts have become more prevalent in the videocassette rental industry relative to the more conventional wholesale price contract. This paper studies revenue-sharing contracts in a general supply chain model with revenues determined by each retailer's purchase quantity and price. Demand can be deterministic or stochastic and re...
-
作者：Klos, A
作者单位：University of Mannheim; Columbia University; Columbia University; Centre for Economic Policy Research - UK
摘要：To investigate the effect of time horizon on investment behavior, this paper reports the results of an experiment in which business graduate students provided certainty equivalents and judged various dimensions of the outcome distribution of simple gambles that were played either once or repeatedly for 5 or 50 times. Systematic mistakes in the ex-ante estimations of the distributions of outcomes after (independent) repeated plays were observed. Despite correctly realizing that outcome standard...
-
作者：Amaldoss, W; Jain, S
作者单位：Duke University; University System of Maryland; University of Maryland College Park
摘要：Consumers purchase conspicuous goods to satisfy not only material needs but also social needs such as prestige. In an attempt to meet these social needs, producers of conspicuous goods like cars, perfumes, and watches, highlight the exclusivity of their products. In this paper, we propose a monopoly model of conspicuous consumption using the rational expectations framework, and then examine how purchase decisions are affected by the desire for exclusivity and conformity. We show that snobs can...
-
作者：Birnbaum, MH
作者单位：California State University System; California State University Fullerton
摘要：This paper tests new independence properties to compare three models of risky decision making. According to the rank-affected multiplicative (RAM) weights model, all three properties should be satisfied; according to the transfer of attention exchange (TAX) model, two should be satisfied and one can be violated. However, according to cumulative prospect theory (CPT), all three properties will be violated if the probability weighting function is nonlinear. Although CPT is flexible enough to acc...
