-
作者：Gavetti, G; Levinthal, DA
作者单位：Harvard University; University of Pennsylvania
摘要：We reflect on the evolution of the strategy field as seen through the window of Management Science. Reflecting the diverse disciplinary roots of strategy research, we identify a broad-ranging body of work that varies with respect to the assumptions made regarding individual rationality and the level of analysis at which the research is carried out. We argue that recent developments begin to delineate a potentially unifying conceptual framework for treating the field's defining questions-the co...
-
作者：Denrell, J
作者单位：Stanford University
摘要：Strategy is concerned with sustained interfirm profitability differences. Observations of such sustained differences are often attributed to unobserved systematic a priori differences in firm characteristics. This paper shows that sustained interfirm profitability differences may be very likely even if there are no a priori differences among firms. As a result of the phenomenon of long leads in random walks, even a random resource accumulation process is likely to produce persistent resource h...
-
作者：Balakrishnan, A; Pangburn, MS; Stavrulaki, E
作者单位：University of Texas System; University of Texas Austin; University of Oregon; Bentley University
摘要：In some retail contexts, stocking large quantities of inventory may not only improve service levels, but can also stimulate demand. For products having demand rates that increase with inventory levels, we analyze the effect of stocking decisions on firm profitability to develop managerial insights regarding the structure of the optimal inventory policy, and to understand how this policy differs from traditional approaches. When inventories stimulate demand, iteratively applying the standard ec...
-
作者：Smith, JE; Von Winterfeldt, D
作者单位：Duke University; University of Southern California
摘要：As part of the 50th anniversary of Management Science, the journal is publishing articles that reflect on the past, present, and future of the various subfields the journal represents. In this article, we consider decision analysis research as it has appeared in Management Science. After reviewing the foundations of decision analysis and the history of the journal's decision analysis department, we review a number of key developments in decision analysis research that have appeared in Manageme...
-
作者：Srinivasan, S; Pauwels, K; Hanssens, DM; Dekimpe, MG
作者单位：University of California System; University of California Riverside; Dartmouth College; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Universite Catholique Louvain
摘要：Do price promotions generate additional revenue and for whom? Which brand, category, and market conditions influence promotional benefits and their allocation across manufacturers and retailers? To answer these questions, we conduct a large-scale econometric investigation of the effects of price promotions on manufacturer revenues, retailer revenues, and total profits (margins). A first major finding is that a price promotion typically does not have permanent monetary effects for either party....
-
作者：Sundararajan, A
作者单位：New York University
摘要：This paper analyzes optimal pricing for information goods under incomplete information, when both unlimited-usage (fixed-fee) pricing and usage-based pricing are feasible and administering usage-based pricing may involve transaction costs. It is shown that offering fixed-fee pricing in addition to a nonlinear usage-based pricing scheme is always profit improving in the presence of nonzero transaction costs, and there may be markets in which a pure fixed-fee is optimal. This implies that the op...
-
作者：Kim, BD; Shi, MZ; Srinivasan, K
作者单位：Seoul National University (SNU); University of Toronto; Carnegie Mellon University
摘要：Rewarding customers with own products or services has become an increasingly popular practice across a spectrum of industries such as airlines, hotels, and telecommunication. In these service industries, firms face demand uncertainty and strict short-term capacity constraint. When the market demand is low, firms hold excess capacities that would lead to intense price competition. In this paper we study the adoption and design of reward programs in the context of capacity management. We demonst...
-
作者：Andersen, L; Broadie, M
作者单位：Columbia University
摘要：This paper describes a practical algorithm based on Monte Carlo simulation for the pricing of multidimensional American (i.e., continuously exercisable) and Bermudan (i.e., discretely exercisable) options. The method generates both lower and upper bounds for the Bermudan option price and hence gives valid confidence intervals for the true value. Lower bounds can be generated using any number of primal algorithms. Upper bounds are generated using a new Monte Carlo a ialgorithm based on the dual...
-
作者：Kou, SG; Wang, H
作者单位：Columbia University; Brown University
摘要：Analytical tractability is one of the challenges faced by many alternative models that try to generalize the Black-Scholes option pricing model to incorporate more empirical features. The aim of this paper is to extend the analytical tractability of the Black-Scholes model to alternative models with jumps. We demonstrate that a double exponential jump diffusion model can lead to an analytic approximation for finite-horizon American options (by extending the Barone-Adesi and Whaley method) and ...
-
作者：Tang, CS; Rajaram, K; Alptekinoglu, A; Ou, JH
作者单位：University of California System; University of California Los Angeles; National University of Singapore
摘要：Consider a retailer who sells perishable seasonal products with uncertain demand. Due to the short sales season and long replenishment lead times associated with such products, the retailer is unable to update demand forecasts by using actual sales data generated from the early part of the season and to respond by replenishing stocks during the season. To overcome this limitation, we examine the case in which the retailer develops a program called the advance booking discount (ABD) program tha...
