Management Science

最新文章

• Conspicuous consumption and sophisticated thinking AI翻译
  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...
• Three new tests of independence that differentiate models of risky decision making AI翻译
  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...
• Subjective probability assessment in decision analysis: Partition dependence and bias toward the ignorance prior AI翻译
  作者：Fox, CR; Clemen, RT
  作者单位：University of California System; University of California Los Angeles; University of California System; University of California Los Angeles; Duke University
  摘要：Decision and risk analysts have considerable discretion in designing procedures for eliciting subjective probabilities. One of the most popular approaches is to specify a particular set of exclusive and exhaustive events for which the assessor provides such judgments. We show that assessed probabilities are systematically biased toward a uniform distribution over all events into which the relevant state space happens to be partitioned, so that probabilities are partition dependent. We surmise ...
• Eliciting informative feedback: The peer-prediction method AI翻译
  作者：Miller, N; Resnick, P; Zeckhauser, R
  作者单位：Harvard University; University of Michigan System; University of Michigan
  摘要：Many recommendation and decision processes depend on eliciting evaluations of opportunities, products, and vendors. A scoring system is devised that induces honest reporting of feedback. Each rater merely reports a signal, and the system applies proper scoring rules to the implied posterior beliefs about another rater's report. Honest reporting proves to be a Nash equilibrium. The scoring schemes can be scaled to induce appropriate effort by raters and can be extended to handle sequential inte...
• Probabilistic inversion of expert judgments in the quantification of model uncertainty AI翻译
  作者：Kraan, B; Bedford, T
  作者单位：Delft University of Technology; University of Strathclyde
  摘要：Expert judgment is, frequently used to assess parameter values of quantitative management science models, particularly in decision-making contexts. Experts can, however, only be expected to assess observable quantities, not abstract model parameters. This means that we need a method for translating expert assessed uncertainties on model outputs into uncertainties on model parameter values. This process is called probabilistic inversion. The probability distribution on model parameters obtained...
• Option pricing with downward-sloping demand curves: The case of supply chain options AI翻译
  作者：Burnetas, A; Ritchken, P
  作者单位：National & Kapodistrian University of Athens; University System of Ohio; Case Western Reserve University
  摘要：This article investigates the role of option contracts in a supply chain when the demand curve is downward sloping. We consider call (put) options that provide the retailer with the right to reorder (return) goods at a fixed price. We show that the introduction of option contracts causes the wholesale price to increase and the volatility of the retail price to decrease. In general, options are not zero-sum games. Conditions are derived under which the manufacturer prefers to use options. When ...
• Managing flexible capacity in a make-to-order environment AI翻译
  作者：Bish, EK; Muriel, A; Biller, S
  作者单位：Virginia Polytechnic Institute & State University; University of Massachusetts System; University of Massachusetts Amherst; University of Salamanca; General Motors
  摘要：Flexible capacity has been shown to be very effective to hedge against forecast errors at the investment stage. In a make-to-order environment, this flexibility can also be used to hedge against variability in customer orders in the short term. For that purpose, production levels must be adjusted each period to match current demands, to give priority to the higher margin product, or to satisfy the closest customer. However, this will result in swings in production, inducing larger order variab...
• Antecedents and consequences of group potency: A study of self-managing service teams AI翻译
  作者：de Jong, A; de Ruyter, K; Wetzels, M
  作者单位：Eindhoven University of Technology; Maastricht University
  摘要：This paper proposes and tests a model of antecedents and consequences of group potency in self-managing teams in retail banking. Based on data collected from boundary-spanning service employees organized in 60 teams and their customers, our findings reveal a significant positive impact of group potency on customer-perceived service quality and a negative effect on service profitability. In addition, we find that team consensus regarding group potency positively moderates the effects of group p...
• CABOB: A fast, optimal algorithm for winner determination in combinatorial auctions AI翻译
  作者：Sandholm, T; Suri, S; Gilpin, A; Levine, D
  作者单位：Carnegie Mellon University; University of California System; University of California Santa Barbara
  摘要：Combinatorial auctions where bidders can bid on bundles of items' can lead to more economically efficient allocations, but determining the winners is NP-complete and inapproximable. We present CABOB, a sophisticated optimal search algorithm for the problem. It uses decomposition techniques, upper and lower, bounding (also across components), elaborate and dynamically chosen bid-ordering heuristics, and a host of structural observations. CABOB attempts to capture structure in any instance. with...
• Structural flexibility: A new perspective on the design of manufacturing and service operations AI翻译
  作者：Iravani, SM; Van Oyen, MP; Sims, KT
  作者单位：Northwestern University; Loyola University Chicago
  摘要：In this paper, we present a new perspective on flexibility in manufacturing and service operations by exploring a type of operational flexibility that we term structural flexibility (SF). We focus on strategic-level issues of how flexibility can be created by using multipurpose resources such as cross-trained labor, flexible machines, or flexible factories. The proposed structural flexibility method uses the structure of the capability pattern to generate indices that quantify the ability of a...