Management Science

最新文章

• Are Inventors or Firms the Engines of Innovation? AI翻译
  作者：Bhaskarabhatla, Ajay; Cabral, Luis; Hegde, Deepak; Peeters, Thomas
  作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; New York University
  摘要：In this study, we empirically assess the contributions of inventors and firms for innovation using a 37-year panel of U.S. patenting activity. We estimate that inventors' human capital is 5-10 times more important than firm capabilities for explaining the variance in inventor output. We then examine matching between inventors and firms and find highly talented inventors are attracted to firms that (i) have weak firm-specific invention capabilities and (u) employ other talented inventors. A the...
• Benefits of Customer Loyalty in Markets with Endogenous Search Costs AI翻译
  作者：Kuksov, Dmitri; Zia, Mohammad
  作者单位：University of Texas System; University of Texas Dallas; Chapman University System; Chapman University
  摘要：Managers have long appreciated having loyal customers, and academic research has explored the benefits of loyal consumers as coming from reduced price competition. This paper extends this research by considering how loyalty affects firms' decisions to facilitate search for nonloyal consumers. We show that in equilibrium, the store with more loyal customers ends up having lower search costs even if facilitating search is costless. The intuition for this result is that nonloyal consumers expect ...
• How Economically Significant Are Unused Capacity Costs? A Large-Scale Empirical Analysis AI翻译
  作者：Ederhof, Merle; Nagar, Venky; Rajan, Madhav
  作者单位：Stanford University; Stanford University; University of Michigan System; University of Michigan; University of Chicago
  摘要：This study uses a confidential Census sample of 151,900 U.S. manufacturing plant-years from 1974 to 2011 to investigate the impact of excluding the cost of unused capacity from key financial indicators, namely, product costs and gross margins. We estimate the magnitude of unused capacity cost as a percentage of sales to be about 4.8%, which for Compustat manufacturing firms in 2011 amounts to $142 billion (by comparison, the well-researched topic of research and development expenses totals to ...
• Creating Social Contagion Through Firm-Mediated Message Design: Evidence from a Randomized Field Experiment AI翻译
  作者：Sun, Tianshu; Viswanathan, Siva; Zheleva, Elena
  作者单位：University of Southern California; University System of Maryland; University of Maryland College Park; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
  摘要：We study whether and how a firm can enhance social contagion simply by varying the message shared by customers with their friends. We focus on two key com- ponents of information contained in the message-information about the sender's purchase status prior to referral and information about the existence of referral rewards-and their impacts on the recipient's purchase decision and further referral behavior. In collaboration with an online daily-deal platform, we design and conduct a large-scal...
• Trade Credit Insurance: Operational Value and Contract Choice AI翻译
  作者：Yang, S. Alex; Bakshi, Nitin; Chen, Christopher J.
  作者单位：University of London; London Business School; University of Hong Kong; Utah System of Higher Education; University of Utah; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
  摘要：Trade credit insurance (TCI) is a risk management tool commonly used by suppliers to guarantee against payment default by credit buyers. TCI contracts can be either cancelable (the insurer has the discretion to cancel this guarantee during the insured period) or noncancelable (the terms cannot be renegotiated within the insured period). This paper identifies two roles of TCI: the (cash flow) smoothing role (smoothing the supplier's cash flows) and the monitoring role (tracking the buyer's cont...
• Editorial Statement-Behavioral Economics and Decision Analysis AI翻译
  作者：Baucells, Manel; Chen, Yan; Ockenfels, Axel; Rottenstreich, Yuval; Tsetlin, Ilia
  作者单位：University of Virginia; University of Michigan System; University of Michigan; University of Cologne; University of California System; University of California San Diego; INSEAD Business School
• The Effect of Monetary Policy on Bank Wholesale Funding AI翻译
  作者：Choi, Dong Beom; Choi, Hyun-Soo
  作者单位：Seoul National University (SNU); Korea Advanced Institute of Science & Technology (KAIST)
  摘要：We study how monetary policy affects the funding composition of the banking sector. When monetary tightening reduces the supply of retail deposits, banks attempt to substitute wholesale funding for deposit outflows to smooth their lending. Because of financial frictions, banks have varying degrees of access to wholesale funding. Therefore, large banks, or those with greater reliance on wholesale funding, increase their wholesale funding more. Consequently, monetary tightening increases both th...
• An Experimental Comparison of Two Exchange Economies: Long-Lived Asset vs. Short-Lived Asset AI翻译
  作者：Carbone, Enrica; Hey, John; Neugebauer, Tibor
  作者单位：Universita della Campania Vanvitelli; University of York - UK; University of Luxembourg
  摘要：The Lucas tree model [Lucas RE Jr (1978) Asset prices in an exchange economy. Econometrica 46(6):1429-1445.] lies at the heart of modern macrofinance. At its core, it provides an analysis of the equilibrium price of a long-lived asset in an exchange economy where consumption is the objective and the sole purpose of the asset is to smooth consumption through time. Experimental tests of the model use a particular instantiation of the Lucas model. Here we adopt a different instantiation to the fi...
• The Value and Cost of Crop Minimum Support Price: Farmer and Consumer Welfare and Implementation Cost AI翻译
  作者：Chintapalli, Prashant; Tang, Christopher S.
  作者单位：Western University (University of Western Ontario); University of California System; University of California Los Angeles
  摘要：In many developing countries, crop minimum support price (MSP) is a subsidy scheme to (i) improve farmer welfare by safeguarding farmers' incomes against vagaries in crop price and (ii) improve consumer surplus by ensuring sufficient crop production. Among different mechanisms to operationalize an MSP scheme, we focus on credit-based MSPs under which the government credits farmers should the prevailing market price be below the prespecified MSP. By accounting for the implementation cost of the...
• Call to Duty: Just-in-Time Scheduling in a Restaurant Chain AI翻译
  作者：Kamalahmadi, Masoud; Yu, Qiuping; Zhou, Yong-Pin
  作者单位：University of Miami; University System of Georgia; Georgia Institute of Technology; University of Washington; University of Washington Seattle
  摘要：Just-in-time scheduling has become ubiquitous in the service industries. Although effective in reducing staffing level, hence labor cost, the potential impact of just-in-time scheduling on workers' productivity and the firm's revenue is not well understood. Using a data set of 1,444,044 transactions from 25 stores of a full-service casual dining restaurant chain in the United States, we study how just-in-time scheduling impacts worker productivity. We consider two types of just-in-time schedul...