Production and Operations Management

最新文章

• Manufacturer Encroachment in the Presence of Production Economies of Scale AI翻译
  作者：Li, Wei; Chen, Jing; Pun, Hubert
  作者单位：Southwestern University of Finance & Economics - China; Dalhousie University; Western University (University of Western Ontario)
  摘要：It is well established that a manufacturer generally benefits from encroachment with a profitable direct channel and may also benefit from using encroachment as a threat (i.e., without sales in the direct channel); the retailer may also benefit from both encroachment strategies. Our study provides new insights into the manufacturer encroachment literature by considering the upstream manufacturer's production economies of scale. Contrary to conventional wisdom, we show that an increasing level ...
• Impact of Recreational Marijuana Legalization on Hotel Performance and Operations: A Bayesian Causal Inference Approach AI翻译
  作者：Jiang, Juncai; Zach, Florian J.; Bruce, Norris, I
  作者单位：State University System of Florida; University of Central Florida; Virginia Polytechnic Institute & State University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
  摘要：This article investigates the effects of legalizing recreational marijuana dispensaries on hotel performance and operations using Bayesian causal inference within the potential outcomes framework. Focusing on Colorado, the study finds that, on average, hotel revenue increases by 25.2% (or $63,671 monthly) due to dispensary legalization, with the effect continuing to grow even 6 years after legalization. The revenue boost arises from a 7.9% increase in room night bookings and a 16.0% rise in da...
• Optimality of Base-Stock Policy Under Unknown General Demand Distributions: New Methods, New Results, and Computations AI翻译
  作者：Bensoussan, Alain; Sethi, Suresh P.; Thiam, Abdoulaye; Turi, Janos
  作者单位：University of Texas System; University of Texas Dallas; University of Texas System; University of Texas Dallas; Allen University; University of Texas System; University of Texas Dallas
  摘要：This article advances the literature on the optimality of the base-stock policy for a general demand distribution and a general prior belief, which we update as we observe realized demands, assumed to be continuous, independent and identically distributed, random variables. The value function depends on the belief, so the functional Bellman equation is infinite-dimensional. Significantly, in contrast with traditional approaches, we derive a functional equation for the derivative of the value f...
• Pricing in the Presence of Strategic Consumers and Social Learning Under Contingent Pricing and Price Guarantee AI翻译
  作者：Jiang, Zhong-Zhong; Zhao, Jinlong; Yi, Zelong; Chen, Ying-Ju; Li, Guang
  作者单位：Northeastern University - China; Northeastern University - China; Northeastern University - China; Shenzhen University; Hong Kong University of Science & Technology; Queens University - Canada
  摘要：Purchasing new experience products or services often involves significant quality uncertainty for both consumers and firms. Social learning through online reviews helps reduce this uncertainty but exacerbates strategic waiting, as consumers delay purchases to gain more information. This paper examines the impact of social learning on firms' pricing policies in the presence of strategic consumers under two widely adopted schemes: Contingent pricing and price guarantee. We find that while social...
• Behavior-Based Pricing for Competing Firms Facing Variety-Seeking Consumers AI翻译
  作者：Zhang, Ting; Choi, Tsan-Ming; Cheng, T. C. Edwin
  作者单位：University of Bristol; University of Liverpool; Hong Kong Polytechnic University
  摘要：Many firms adopt behavioral-based pricing (BBP) to customize prices for both existing and new consumers whose valuations of products are influenced by the variety-seeking behavior, that is, the tendency to pursue diversity in brand or product choices. While this behavior is common in practice, it remains underexplored in the literature. To investigate BBP in markets with variety-seeking consumers, we develop a two-period model involving two competing firms. Our findings reveal that when firms ...
• Sellers' Peer Comparison Under Uncertainty in Online Marketplace AI翻译
  作者：Zhou, Yun; Zhang, Zhoupeng (Jack); Hu, Ming; Cui, Haitao (Tony)
  作者单位：McMaster University; State University of New York (SUNY) System; University at Buffalo, SUNY; University of Toronto; University of Minnesota System
  摘要：How will peer pressure among sellers affect their operations in an online marketplace? Motivated by online platforms' marketplace designs that prompt sellers to compare their performances, in this paper, we develop and study a price competition model in which sellers account for both profits and peer comparison outcomes. In our model, two sellers offer substitutable products, and each of them sets a price ex ante to maximize their expected total utility, which is the sum of one's profit and th...
• On the Design of a Shared Waiting Room AI翻译
  作者：Li, Yanting; Roet-Green, Ricky
  作者单位：University of Rochester
  摘要：We investigate the design of a waiting area of a service system where different types of customers seek different services, provided by designated servers. We examine two waiting room designs: The designated waiting room, where each server has its own designated waiting area, and the shared waiting room, where all customers are waiting together. In the designated waiting room design, customers observe the number of customers waiting for each service, whereas in the shared waiting room, custome...
• Hiding Behind Complexity: Supply Chain, Oversight, Race, and the Opioid Crisis AI翻译
  作者：Attari, Iman; Helm, Jonathan E.; Mejia, Jorge
  作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
  摘要：The opioid crisis has ravaged the United States, taking 69,000 lives in 2020, with prescription opioids accounting for 98% of opioid abuse. Although this epidemic is often considered a White public health crisis nationally, overdose deaths among people of color doubled from 2017 to 2019. As research has shown that the crisis was fueled by excessive supply from the pharmaceutical industry, several individual firms have received significant public criticism. However, we find evidence that the sc...
• Don't Follow Reinforcement Learning Blindly: Lower Sample Complexity of Learning Optimal Inventory Control Policies with Fixed Ordering Cost AI翻译
  作者：Fan, Xiaoyu; Chen, Boxiao; Olsen, Tava; Qin, Hanzhang; Zhou, Zhengyuan
  作者单位：New York University; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Melbourne; National University of Singapore
  摘要：We study the sample complexity of offline learning for a class of structured Markov decision processes (MDPs) describing the inventory control system with fixed ordering cost/setup cost, a fundamental problem in supply chains. We find that a naive plug-in sampling-based approach applied to the inventory MDPs leads to strictly lower sample complexity bounds compared to the optimal bounds recently obtained for the general MDPs. More specifically, in the infinite-horizon discounted cost setting, ...
• Global Sourcing for Supply Resilience in the Presence of Emergency Contract Renegotiation AI翻译
  作者：Niu, Baozhuang; Wang, Lingfeng; Xiao, Guang; Zhang, Nan
  作者单位：South China University of Technology; Hong Kong Polytechnic University
  摘要：In light of the recent frequency of global emergencies that result in overseas delivery delays and cost surges, many multinational brands consider reshaping their sourcing configurations by incorporating local suppliers that may be of lower quality than globally selected counterparts. In this global context, pre-committed emergency renegotiation clauses have gained recognition as a common practice in international commercial contracts, which enable contractual parties to adjust key terms, such...