Dépouillements

Maximizing the efficiency of the U.S. liver allocation system through region design / Nan Kong in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2111-2122 Titre : Maximizing the efficiency of the U.S. liver allocation system through region design Type de document : texte imprimé Auteurs : Nan Kong, Auteur ; Andrew J. Schaefer, Auteur ; Brady Hunsaker, Auteur Année de publication : 2011 Article en page(s) : pp. 2111-2122 Note générale : Management Langues : Anglais (eng) Mots-clés : Set  partitioning  Branch  and  price  Column  generation  Clustering  Organ  allocation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Cadaveric liver transplantation is the only viable therapy for end-stage liver disease patients without a living donor. However, this type of transplantation is hindered in the United States by donor scarcity and rapid viability decay. Given these difficulties, the current U.S. liver allocation policy balances allocation likelihood and geographic proximity by allocating cadaveric livers hierarchically. We consider the problem of maximizing the efficiency of intraregional transplants through the redesign of liver allocation regions. We formulate the problem as a set partitioning problem that clusters organ procurement organizations into regions. We develop an estimate of viability-adjusted intraregional transplants to capture the trade-off between large and small regions. We utilize branch and price because the set partitioning formulation includes too many potential regions to handle explicitly. We formulate the pricing problem as a mixed-integer program and design a geographic-decomposition heuristic to generate promising columns quickly. Because the optimal solution depends on the design of geographic decomposition, we develop an iterative procedure that integrates branch and price with local search to alleviate this dependency. Finally, we present computational studies that show the benefit of region redesign and the efficacy of our solution approach. Our carefully calibrated test instances can be solved within a reasonable amount of time, and the resulting region designs yield a noticeable improvement over the current configuration. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2111 [article] Maximizing the efficiency of the U.S. liver allocation system through region design [texte imprimé] / Nan Kong, Auteur ; Andrew J. Schaefer, Auteur ; Brady Hunsaker, Auteur . - 2011 . - pp. 2111-2122. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2111-2122 Mots-clés : Set  partitioning  Branch  and  price  Column  generation  Clustering  Organ  allocation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Cadaveric liver transplantation is the only viable therapy for end-stage liver disease patients without a living donor. However, this type of transplantation is hindered in the United States by donor scarcity and rapid viability decay. Given these difficulties, the current U.S. liver allocation policy balances allocation likelihood and geographic proximity by allocating cadaveric livers hierarchically. We consider the problem of maximizing the efficiency of intraregional transplants through the redesign of liver allocation regions. We formulate the problem as a set partitioning problem that clusters organ procurement organizations into regions. We develop an estimate of viability-adjusted intraregional transplants to capture the trade-off between large and small regions. We utilize branch and price because the set partitioning formulation includes too many potential regions to handle explicitly. We formulate the pricing problem as a mixed-integer program and design a geographic-decomposition heuristic to generate promising columns quickly. Because the optimal solution depends on the design of geographic decomposition, we develop an iterative procedure that integrates branch and price with local search to alleviate this dependency. Finally, we present computational studies that show the benefit of region redesign and the efficacy of our solution approach. Our carefully calibrated test instances can be solved within a reasonable amount of time, and the resulting region designs yield a noticeable improvement over the current configuration. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2111

The end of the robinson-patman act? / Ryan Luchs in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2123-2133 Titre : The end of the robinson-patman act? : Evidence from legal case data Type de document : texte imprimé Auteurs : Ryan Luchs, Auteur ; Tansev Geylani, Auteur ; Anthony Dukes, Auteur Année de publication : 2011 Article en page(s) : pp. 2123-2133 Note générale : Management Langues : Anglais (eng) Mots-clés : Pricing  Channels  of  distribution  Robinson-patman  act  Case  history Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The Robinson-Patman Act (RP), an antitrust statute aimed at protecting small businesses, limits price setting in distribution channels. To avoid costly penalties under RP, managers take a variety of precautions when pricing to retailers and wholesalers. But how likely is a court to find a defendant guilty of violating the RP? We find that this likelihood has dropped drastically as a result of recent Supreme Court rulings from more than 1 in 3 before 1993 to less than 1 in 20 for the period 2006–2010. The analysis also points to an increased success of the no harm to competition defense, which reflects the view that the courts have raised the hurdle for plaintiffs to establish competitive harm. Finally, our results indicate that smaller plaintiffs over time have fared worse than larger ones, a trend that challenges the notion that RP protects small businesses. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2123 [article] The end of the robinson-patman act? : Evidence from legal case data [texte imprimé] / Ryan Luchs, Auteur ; Tansev Geylani, Auteur ; Anthony Dukes, Auteur . - 2011 . - pp. 2123-2133. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2123-2133 Mots-clés : Pricing  Channels  of  distribution  Robinson-patman  act  Case  history Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The Robinson-Patman Act (RP), an antitrust statute aimed at protecting small businesses, limits price setting in distribution channels. To avoid costly penalties under RP, managers take a variety of precautions when pricing to retailers and wholesalers. But how likely is a court to find a defendant guilty of violating the RP? We find that this likelihood has dropped drastically as a result of recent Supreme Court rulings from more than 1 in 3 before 1993 to less than 1 in 20 for the period 2006–2010. The analysis also points to an increased success of the no harm to competition defense, which reflects the view that the courts have raised the hurdle for plaintiffs to establish competitive harm. Finally, our results indicate that smaller plaintiffs over time have fared worse than larger ones, a trend that challenges the notion that RP protects small businesses. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2123

What makes them tick? / Henry Sauermann in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2134-2153 Titre : What makes them tick? : Employee motives and firm innovation Type de document : texte imprimé Auteurs : Henry Sauermann, Auteur ; Wesley M. Cohen, Auteur Année de publication : 2011 Article en page(s) : pp. 2134-2153 Note générale : Management Langues : Anglais (eng) Mots-clés : Research  and  development  Innovation  Motivation  Motives  Incentives  Creativity Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Economists studying innovation and technological change have made significant progress toward understanding firms' profit incentives as drivers of innovation. However, innovative performance in firms should also depend heavily on the pecuniary and nonpecuniary motives of the employees actually working in research and development. Using data on more than 1,700 Ph.D. scientists and engineers, we examine the relationships between individuals' motives (e.g., desire for intellectual challenge, income, or responsibility) and their innovative performance. We find that motives matter, but different motives have very different effects: Motives regarding intellectual challenge, independence, and money have a strong positive relationship with innovative output, whereas motives regarding job security and responsibility tend to have a negative relationship. We also explore possible mechanisms underlying the observed relationships between motives and performance. Although hours worked (quantity of effort) have a strong positive effect on performance, motives appear to affect innovative performance primarily via other dimensions of effort (character of effort). Finally, we find some evidence that the role of motives differs in upstream research versus downstream development. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2134 [article] What makes them tick? : Employee motives and firm innovation [texte imprimé] / Henry Sauermann, Auteur ; Wesley M. Cohen, Auteur . - 2011 . - pp. 2134-2153. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2134-2153 Mots-clés : Research  and  development  Innovation  Motivation  Motives  Incentives  Creativity Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Economists studying innovation and technological change have made significant progress toward understanding firms' profit incentives as drivers of innovation. However, innovative performance in firms should also depend heavily on the pecuniary and nonpecuniary motives of the employees actually working in research and development. Using data on more than 1,700 Ph.D. scientists and engineers, we examine the relationships between individuals' motives (e.g., desire for intellectual challenge, income, or responsibility) and their innovative performance. We find that motives matter, but different motives have very different effects: Motives regarding intellectual challenge, independence, and money have a strong positive relationship with innovative output, whereas motives regarding job security and responsibility tend to have a negative relationship. We also explore possible mechanisms underlying the observed relationships between motives and performance. Although hours worked (quantity of effort) have a strong positive effect on performance, motives appear to affect innovative performance primarily via other dimensions of effort (character of effort). Finally, we find some evidence that the role of motives differs in upstream research versus downstream development. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2134

Integrating dynamic pricing and replenishment decisions under supply capacity uncertainty / Qi Feng in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2154-2172 Titre : Integrating dynamic pricing and replenishment decisions under supply capacity uncertainty Type de document : texte imprimé Auteurs : Qi Feng, Auteur Année de publication : 2011 Article en page(s) : pp. 2154-2172 Note générale : Management Langues : Anglais (eng) Mots-clés : Inventory  Stochastic  Policies  Pricing Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper examines an integrated decision-making process regarding pricing for uncertain demand and sourcing from uncertain supply, which are often studied separately in the literature. Our analysis of the integrated system suggests that the base stock list price policy fails to achieve optimality even under deterministic demand. Instead, the optimal policy is characterized by two critical values: a reorder point and a target safety stock. Under this policy, a positive order is issued if and only if the inventory level is below the reorder point. When this happens, the optimal order and price are coordinated to achieve a constant target safety stock, which aims at hedging the demand uncertainty. We further investigate the profit improvement obtained from deploying dynamic pricing, as opposed to static pricing. Our results indicate that either supply limit or supply uncertainty may induce a significant benefit from dynamic pricing, and the compound effect of supply limit and uncertainty can be much more pronounced than the individual effects. Whether or not the supply capacity is limited has a major implication on the value of dynamic pricing. Under unlimited supply, dynamic pricing is more valuable when procurement cost is high or when demand is more sensitive to price. With limited supply, however, the capacity restriction tends to be relaxed, reducing the value of dynamic pricing. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2154 [article] Integrating dynamic pricing and replenishment decisions under supply capacity uncertainty [texte imprimé] / Qi Feng, Auteur . - 2011 . - pp. 2154-2172. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2154-2172 Mots-clés : Inventory  Stochastic  Policies  Pricing Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper examines an integrated decision-making process regarding pricing for uncertain demand and sourcing from uncertain supply, which are often studied separately in the literature. Our analysis of the integrated system suggests that the base stock list price policy fails to achieve optimality even under deterministic demand. Instead, the optimal policy is characterized by two critical values: a reorder point and a target safety stock. Under this policy, a positive order is issued if and only if the inventory level is below the reorder point. When this happens, the optimal order and price are coordinated to achieve a constant target safety stock, which aims at hedging the demand uncertainty. We further investigate the profit improvement obtained from deploying dynamic pricing, as opposed to static pricing. Our results indicate that either supply limit or supply uncertainty may induce a significant benefit from dynamic pricing, and the compound effect of supply limit and uncertainty can be much more pronounced than the individual effects. Whether or not the supply capacity is limited has a major implication on the value of dynamic pricing. Under unlimited supply, dynamic pricing is more valuable when procurement cost is high or when demand is more sensitive to price. With limited supply, however, the capacity restriction tends to be relaxed, reducing the value of dynamic pricing. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2154

Selling with binding reservations in the presence of strategic consumers / Nikolay Osadchiy in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2173-2190 Titre : Selling with binding reservations in the presence of strategic consumers Type de document : texte imprimé Auteurs : Nikolay Osadchiy, Auteur ; Gustavo Vulcano, Auteur Année de publication : 2011 Article en page(s) : pp. 2173-2190 Note générale : Management Langues : Anglais (eng) Mots-clés : Revenue  management  Retail  operations  Markdowns  Strategic  consumer  behavior  Bayesian-nash  equilibrium  Asymptotic  analysis Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We analyze a revenue management problem in which a seller endowed with an initial inventory operates a selling with binding reservations scheme. Upon arrival, each consumer, trying to maximize his own utility, must decide either to buy at the full price and get the item immediately or to place a nonwithdrawable reservation at a discount price and wait until the end of the sales season where the leftover units are allocated according to first-come-first-serve priority. We prove the existence of an equilibrium consumer's strategy in this game and develop a simple and accurate asymptotic approximation for it. Through an extensive numerical study, we find that our proposed mechanism delivers higher revenues than the markdown practice with a preannounced fixed discount. The benefit is more emphasized when the seller is more patient than the consumers and (1) the ratio between the number of units put up for sale and the expected demand is moderate and/or (2) the heterogeneity of the consumers' valuations is moderate to high. In our numerical experiments, the revenue gap can reach more than 12%, which is quite significant for retail businesses that typically operate with narrow margins. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2173 [article] Selling with binding reservations in the presence of strategic consumers [texte imprimé] / Nikolay Osadchiy, Auteur ; Gustavo Vulcano, Auteur . - 2011 . - pp. 2173-2190. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2173-2190 Mots-clés : Revenue  management  Retail  operations  Markdowns  Strategic  consumer  behavior  Bayesian-nash  equilibrium  Asymptotic  analysis Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We analyze a revenue management problem in which a seller endowed with an initial inventory operates a selling with binding reservations scheme. Upon arrival, each consumer, trying to maximize his own utility, must decide either to buy at the full price and get the item immediately or to place a nonwithdrawable reservation at a discount price and wait until the end of the sales season where the leftover units are allocated according to first-come-first-serve priority. We prove the existence of an equilibrium consumer's strategy in this game and develop a simple and accurate asymptotic approximation for it. Through an extensive numerical study, we find that our proposed mechanism delivers higher revenues than the markdown practice with a preannounced fixed discount. The benefit is more emphasized when the seller is more patient than the consumers and (1) the ratio between the number of units put up for sale and the expected demand is moderate and/or (2) the heterogeneity of the consumers' valuations is moderate to high. In our numerical experiments, the revenue gap can reach more than 12%, which is quite significant for retail businesses that typically operate with narrow margins. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2173

The firm as a socialization device / Abhijit Ramalingam in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2191-2206 Titre : The firm as a socialization device Type de document : texte imprimé Auteurs : Abhijit Ramalingam, Auteur ; Michael T. Rauh, Auteur Année de publication : 2011 Article en page(s) : pp. 2191-2206 Note générale : Management Langues : Anglais (eng) Mots-clés : Embeddedness  Endogenous  preferences  Institutions  Multitasking  Norms  Principal-agent  theory  Theory  of  the  firm  Trust Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Why do firms exist? What is their function? What do managers do? What is the role, if any, of social motivation in the market? In this paper, we address these questions with a new theory of the firm, which unites some major themes in management, principal-agent theory, and economic sociology. We show that although the market is a superior incentive mechanism, the firm has a comparative advantage with respect to social motivation. We then show that the market is efficient in environments that favor the provision of incentives, such as when subjective risk is low and performance is easy to measure. The firm is efficient in other environments where incentives are costly and/or ineffective. We compare our model and results with the views of Durkheim (Durkheim, E. 1984. The Division of Labor in Society. Free Press, New York) and Granovetter (Granovetter, M. 1985. Economic action and social structure: The problem of embeddedness. Amer. J. Sociol. 91(3) 481–510). DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2191 [article] The firm as a socialization device [texte imprimé] / Abhijit Ramalingam, Auteur ; Michael T. Rauh, Auteur . - 2011 . - pp. 2191-2206. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2191-2206 Mots-clés : Embeddedness  Endogenous  preferences  Institutions  Multitasking  Norms  Principal-agent  theory  Theory  of  the  firm  Trust Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Why do firms exist? What is their function? What do managers do? What is the role, if any, of social motivation in the market? In this paper, we address these questions with a new theory of the firm, which unites some major themes in management, principal-agent theory, and economic sociology. We show that although the market is a superior incentive mechanism, the firm has a comparative advantage with respect to social motivation. We then show that the market is efficient in environments that favor the provision of incentives, such as when subjective risk is low and performance is easy to measure. The firm is efficient in other environments where incentives are costly and/or ineffective. We compare our model and results with the views of Durkheim (Durkheim, E. 1984. The Division of Labor in Society. Free Press, New York) and Granovetter (Granovetter, M. 1985. Economic action and social structure: The problem of embeddedness. Amer. J. Sociol. 91(3) 481–510). DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2191

Bundling strategies when products are vertically differentiated and capacities are limited / Mihai Banciu in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2207-2223 Titre : Bundling strategies when products are vertically differentiated and capacities are limited Type de document : texte imprimé Auteurs : Mihai Banciu, Auteur ; Esther Gal-Or, Auteur ; Prakash Mirchandani, Auteur Année de publication : 2011 Article en page(s) : pp. 2207-2223 Note générale : Management Langues : Anglais (eng) Mots-clés : Vertical  differentiation  Limited  resources  Bundle  pricing  Mixed  bundling  Revenue  management Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a seller who owns two capacity-constrained resources and markets two products (components) corresponding to these resources as well as a bundle comprising the two components. In an environment where all customers agree that one of the two components is of higher quality than the other and that the bundle is of the highest quality, we derive the seller's optimal bundling strategy. We demonstrate that the optimal solution depends on the absolute and relative availabilities of the two resources as well as upon the extent of subadditivity of the quality of the products. The possible strategies that can arise as equilibrium behavior include a pure components strategy, a partial- or full-spectrum mixed bundling strategy, and a pure bundling strategy, where the latter strategy is optimal when capacities are unconstrained. These conclusions are contrary to findings in the prior literature on bundling that demonstrated the unambiguous dominance of the full-spectrum mixed bundling strategy. Thus, our work expands the frontier of bundling to an environment with vertically differentiated components and limited resources. We also explore how the bundling strategies change as we introduce an element of horizontal differentiation wherein different types of customers value the available components differently. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2207 [article] Bundling strategies when products are vertically differentiated and capacities are limited [texte imprimé] / Mihai Banciu, Auteur ; Esther Gal-Or, Auteur ; Prakash Mirchandani, Auteur . - 2011 . - pp. 2207-2223. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2207-2223 Mots-clés : Vertical  differentiation  Limited  resources  Bundle  pricing  Mixed  bundling  Revenue  management Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a seller who owns two capacity-constrained resources and markets two products (components) corresponding to these resources as well as a bundle comprising the two components. In an environment where all customers agree that one of the two components is of higher quality than the other and that the bundle is of the highest quality, we derive the seller's optimal bundling strategy. We demonstrate that the optimal solution depends on the absolute and relative availabilities of the two resources as well as upon the extent of subadditivity of the quality of the products. The possible strategies that can arise as equilibrium behavior include a pure components strategy, a partial- or full-spectrum mixed bundling strategy, and a pure bundling strategy, where the latter strategy is optimal when capacities are unconstrained. These conclusions are contrary to findings in the prior literature on bundling that demonstrated the unambiguous dominance of the full-spectrum mixed bundling strategy. Thus, our work expands the frontier of bundling to an environment with vertically differentiated components and limited resources. We also explore how the bundling strategies change as we introduce an element of horizontal differentiation wherein different types of customers value the available components differently. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2207

Optimal bundling of technological products with network externality / Ashutosh Prasad in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2224-2236 Titre : Optimal bundling of technological products with network externality Type de document : texte imprimé Auteurs : Ashutosh Prasad, Auteur ; R. Venkatesh, Auteur ; Vijay Mahajan, Auteur Année de publication : 2011 Article en page(s) : pp. 2224-2236 Note générale : Management Langues : Anglais (eng) Mots-clés : Bundling  Network  externality  Pricing  High  technology Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : For many high-tech and Internet-related products, utility to consumers depends in part on the size of the user base, a phenomenon called network externality. A firm with a portfolio of these and other products—that are often asymmetric in their degree of network externality or marginal cost—may have to look beyond the traditional strategies of pure components, pure bundling, and mixed bundling. One such strategic alternative in a two-product case would be a so-called mixed bundling-1 under which the bundle and product 1 are offered, but the other product can only be purchased in a bundled form. The purpose of this study is to compare and contrast the impact of such asymmetry or symmetry in (direct) network externality and cost on the choice of bundling strategies. We model a monopolist firm that has a product in each of two categories and faces heterogeneous consumers. Results suggest that pure bundling is more profitable when both products have low marginal costs or high network externality whereas pure components or mixed bundling-1 is more profitable when the products diverge in their costs and network externality (e.g., only one product has network externality). Traditional mixed bundling is optimal in other instances. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2224 [article] Optimal bundling of technological products with network externality [texte imprimé] / Ashutosh Prasad, Auteur ; R. Venkatesh, Auteur ; Vijay Mahajan, Auteur . - 2011 . - pp. 2224-2236. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2224-2236 Mots-clés : Bundling  Network  externality  Pricing  High  technology Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : For many high-tech and Internet-related products, utility to consumers depends in part on the size of the user base, a phenomenon called network externality. A firm with a portfolio of these and other products—that are often asymmetric in their degree of network externality or marginal cost—may have to look beyond the traditional strategies of pure components, pure bundling, and mixed bundling. One such strategic alternative in a two-product case would be a so-called mixed bundling-1 under which the bundle and product 1 are offered, but the other product can only be purchased in a bundled form. The purpose of this study is to compare and contrast the impact of such asymmetry or symmetry in (direct) network externality and cost on the choice of bundling strategies. We model a monopolist firm that has a product in each of two categories and faces heterogeneous consumers. Results suggest that pure bundling is more profitable when both products have low marginal costs or high network externality whereas pure components or mixed bundling-1 is more profitable when the products diverge in their costs and network externality (e.g., only one product has network externality). Traditional mixed bundling is optimal in other instances. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2224

Imperfect competition in financial markets / Bruno Biais in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2237-2250 Titre : Imperfect competition in financial markets : An empirical study of Island and Nasdaq Type de document : texte imprimé Auteurs : Bruno Biais, Auteur ; Christophe Bisière, Auteur ; Chester Spatt, Auteur Année de publication : 2011 Article en page(s) : pp. 2237-2250 Note générale : Management Langues : Anglais (eng) Mots-clés : Competition  in  financial  markets  Liquidity  supply  Trading  mechanisms  Different  tick  sizes Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The competition between Island and Nasdaq at the beginning of the century offers a natural laboratory to study competition between and within trading platforms and its consequences for liquidity supply. Our empirical strategy takes advantage of the difference between the pricing grids used on Island and Nasdaq, as well as of the decline in the Nasdaq tick. Using the finer grid prevailing on their market, Island limit order traders undercut Nasdaq quotes, much more than they undercut one another. The drop in the Nasdaq tick size triggered a drop in Island spreads, despite the Island tick already being very thin before Nasdaq decimalization. We also estimate a structural model of liquidity supply and find that Island limit order traders earned rents before Nasdaq decimalization. Our results suggest that perfect competition cannot be taken for granted, even on transparent open limit order books with a very thin pricing grid. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2237 [article] Imperfect competition in financial markets : An empirical study of Island and Nasdaq [texte imprimé] / Bruno Biais, Auteur ; Christophe Bisière, Auteur ; Chester Spatt, Auteur . - 2011 . - pp. 2237-2250. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2237-2250 Mots-clés : Competition  in  financial  markets  Liquidity  supply  Trading  mechanisms  Different  tick  sizes Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The competition between Island and Nasdaq at the beginning of the century offers a natural laboratory to study competition between and within trading platforms and its consequences for liquidity supply. Our empirical strategy takes advantage of the difference between the pricing grids used on Island and Nasdaq, as well as of the decline in the Nasdaq tick. Using the finer grid prevailing on their market, Island limit order traders undercut Nasdaq quotes, much more than they undercut one another. The drop in the Nasdaq tick size triggered a drop in Island spreads, despite the Island tick already being very thin before Nasdaq decimalization. We also estimate a structural model of liquidity supply and find that Island limit order traders earned rents before Nasdaq decimalization. Our results suggest that perfect competition cannot be taken for granted, even on transparent open limit order books with a very thin pricing grid. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2237

The behavior of risk and market prices of risk over the Nasdaq bubble period / Gurdip Bakshi in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2251-2264 Titre : The behavior of risk and market prices of risk over the Nasdaq bubble period Type de document : texte imprimé Auteurs : Gurdip Bakshi, Auteur ; Liuren Wu, Auteur Année de publication : 2011 Article en page(s) : pp. 2251-2264 Note générale : Management Langues : Anglais (eng) Mots-clés : Nasdaq  Risks  Market  prices  of  risk  Diffusion  risk  Jump  risk  Open  interest  Options Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We exploit the information in the options market to study the variations of return risk and market prices of different sources of risk during the rise and fall of the Nasdaq market. We specify a model that accommodates fluctuations in both risk levels and market prices of different sources of risk, and we estimate the model using the time-series returns and option prices on the Nasdaq 100 tracking stock. Our analysis reveals three key variations during the period from March 1999 to March 2001. First, return volatility increased together with the rising Nasdaq index level, even though the two tend to move in opposite directions. Second, although the market price of diffusion return risk averages around 1.82 over the whole sample, the estimates reached negative territory at the end of 1999. The estimates reverted back to highly positive values after the collapse of the Nasdaq market. Third, the market price of jump risk increased with the rising Nasdaq valuation, and this increase in market price coincided with an increased imbalance in open interest between put and call options. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2251 [article] The behavior of risk and market prices of risk over the Nasdaq bubble period [texte imprimé] / Gurdip Bakshi, Auteur ; Liuren Wu, Auteur . - 2011 . - pp. 2251-2264. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2251-2264 Mots-clés : Nasdaq  Risks  Market  prices  of  risk  Diffusion  risk  Jump  risk  Open  interest  Options Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We exploit the information in the options market to study the variations of return risk and market prices of different sources of risk during the rise and fall of the Nasdaq market. We specify a model that accommodates fluctuations in both risk levels and market prices of different sources of risk, and we estimate the model using the time-series returns and option prices on the Nasdaq 100 tracking stock. Our analysis reveals three key variations during the period from March 1999 to March 2001. First, return volatility increased together with the rising Nasdaq index level, even though the two tend to move in opposite directions. Second, although the market price of diffusion return risk averages around 1.82 over the whole sample, the estimates reached negative territory at the end of 1999. The estimates reverted back to highly positive values after the collapse of the Nasdaq market. Third, the market price of jump risk increased with the rising Nasdaq valuation, and this increase in market price coincided with an increased imbalance in open interest between put and call options. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2251

A dynamic inventory model with the right of refusal / Sreekumar Bhaskaran in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2265-2281 Titre : A dynamic inventory model with the right of refusal Type de document : texte imprimé Auteurs : Sreekumar Bhaskaran, Auteur ; Karthik Ramachandran, Auteur ; John Semple, Auteur Année de publication : 2011 Article en page(s) : pp. 2265-2281 Note générale : Management Langues : Anglais (eng) Mots-clés : Inventory-production  policies  Dynamic  programming  Stochastic Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a dynamic inventory (production) model with general convex order (production) costs and excess demand that can be accepted or refused by the firm. Excess demand that is accepted is backlogged and results in a backlog cost whereas demand that is refused results in a lost sales charge. Endogenizing the sales decision is appropriate in the presence of general convex order costs so that the firm is not forced to backlog a unit whose subsequent satisfaction would reduce total profits. In each period, the firm must determine the optimal order and sales strategy. We show that the optimal policy is characterized by an optimal buy-up-to level that increases with the initial inventory level and an order quantity that decreases with the initial inventory level. More importantly, we show the optimal sales strategy is characterized by a critical threshold, a backlog limit, that dictates when to stop selling. This threshold is independent of the initial inventory level and the amount purchased. We investigate various properties of this new policy. As demand stochastically increases, the amount purchased increases but the amount backlogged decreases, reflecting a shift in the way excess demand is managed. We develop two regularity conditions, one that ensures some backlogs are allowed in each period, and another that ensures the amount backlogged is nondecreasing in the length of the planning horizon. We illustrate the buy-up-to levels in our model are bounded above by buy-up-to levels from the pure lost sales and pure backlogging models. We explore additional extensions using numerical experiments. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2265 [article] A dynamic inventory model with the right of refusal [texte imprimé] / Sreekumar Bhaskaran, Auteur ; Karthik Ramachandran, Auteur ; John Semple, Auteur . - 2011 . - pp. 2265-2281. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2265-2281 Mots-clés : Inventory-production  policies  Dynamic  programming  Stochastic Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a dynamic inventory (production) model with general convex order (production) costs and excess demand that can be accepted or refused by the firm. Excess demand that is accepted is backlogged and results in a backlog cost whereas demand that is refused results in a lost sales charge. Endogenizing the sales decision is appropriate in the presence of general convex order costs so that the firm is not forced to backlog a unit whose subsequent satisfaction would reduce total profits. In each period, the firm must determine the optimal order and sales strategy. We show that the optimal policy is characterized by an optimal buy-up-to level that increases with the initial inventory level and an order quantity that decreases with the initial inventory level. More importantly, we show the optimal sales strategy is characterized by a critical threshold, a backlog limit, that dictates when to stop selling. This threshold is independent of the initial inventory level and the amount purchased. We investigate various properties of this new policy. As demand stochastically increases, the amount purchased increases but the amount backlogged decreases, reflecting a shift in the way excess demand is managed. We develop two regularity conditions, one that ensures some backlogs are allowed in each period, and another that ensures the amount backlogged is nondecreasing in the length of the planning horizon. We illustrate the buy-up-to levels in our model are bounded above by buy-up-to levels from the pure lost sales and pure backlogging models. We explore additional extensions using numerical experiments. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2265

Bargaining chains / William S. Lovejoy in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2282-2301 Titre : Bargaining chains Type de document : texte imprimé Auteurs : William S. Lovejoy, Auteur Année de publication : 2011 Article en page(s) : pp. 2282-2301 Note générale : Management Langues : Anglais (eng) Mots-clés : Bargaining  Multiechelon  supply  chains  Efficiency  and  profitability Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a firm that designs a new product and wishes to bring it to market but does not have ownership or control over all of the resources required to make that happen. The firm must select and contract with one of several possible tier 1 suppliers for necessary inputs, who do the same with their (tier 2) suppliers, etc. This general situation is common in industry. We assume tier-wise negotiations, sole sourcing within each tier, complete local information, and horizontal competition. We develop a bargaining-based solution to the negotiations between two adjacent multifirm tiers and show its consistency with familiar solution concepts from the theories of bargaining and cooperative games. We then link up multiple bargaining modules to generate chainwide predictions for efficiency and profitability in supply chains with an arbitrary number of tiers and an arbitrary number of firms per tier. We investigate the implications of the results for investments in process improvements or supplier development. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2282 [article] Bargaining chains [texte imprimé] / William S. Lovejoy, Auteur . - 2011 . - pp. 2282-2301. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2282-2301 Mots-clés : Bargaining  Multiechelon  supply  chains  Efficiency  and  profitability Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We consider a firm that designs a new product and wishes to bring it to market but does not have ownership or control over all of the resources required to make that happen. The firm must select and contract with one of several possible tier 1 suppliers for necessary inputs, who do the same with their (tier 2) suppliers, etc. This general situation is common in industry. We assume tier-wise negotiations, sole sourcing within each tier, complete local information, and horizontal competition. We develop a bargaining-based solution to the negotiations between two adjacent multifirm tiers and show its consistency with familiar solution concepts from the theories of bargaining and cooperative games. We then link up multiple bargaining modules to generate chainwide predictions for efficiency and profitability in supply chains with an arbitrary number of tiers and an arbitrary number of firms per tier. We investigate the implications of the results for investments in process improvements or supplier development. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2282

An exact algorithm for finding extreme supported nondominated points of multiobjective mixed integer programs / Özgür Özpeynirci in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2302-2315 Titre : An exact algorithm for finding extreme supported nondominated points of multiobjective mixed integer programs Type de document : texte imprimé Auteurs : Özgür Özpeynirci, Auteur ; Murat Köksalan, Auteur Année de publication : 2011 Article en page(s) : pp. 2302-2315 Note générale : Management Langues : Anglais (eng) Mots-clés : Multiobjective  optimization  Nondominated  points  Exact  algorithm Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we present an exact algorithm to find all extreme supported nondominated points of multiobjective mixed integer programs. The algorithm uses a composite linear objective function and finds all the desired points in a finite number of steps by changing the weights of the objective functions in a systematic way. We develop further variations of the algorithm to improve its computational performance and demonstrate our algorithm's performance on multiobjective assignment, knapsack, and traveling salesperson problems with three and four objectives. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2302 [article] An exact algorithm for finding extreme supported nondominated points of multiobjective mixed integer programs [texte imprimé] / Özgür Özpeynirci, Auteur ; Murat Köksalan, Auteur . - 2011 . - pp. 2302-2315. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2302-2315 Mots-clés : Multiobjective  optimization  Nondominated  points  Exact  algorithm Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : In this paper, we present an exact algorithm to find all extreme supported nondominated points of multiobjective mixed integer programs. The algorithm uses a composite linear objective function and finds all the desired points in a finite number of steps by changing the weights of the objective functions in a systematic way. We develop further variations of the algorithm to improve its computational performance and demonstrate our algorithm's performance on multiobjective assignment, knapsack, and traveling salesperson problems with three and four objectives. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2302

Reassessing data quality for information products / Debabrata Dey in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2316-2322 Titre : Reassessing data quality for information products Type de document : texte imprimé Auteurs : Debabrata Dey, Auteur ; Subodha Kumar, Auteur Année de publication : 2011 Article en page(s) : pp. 2316-2322 Note générale : Management Langues : Anglais (eng) Mots-clés : Information  quality  Quality  metrics  Relational  model  Selection  operation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The quality profile of information retrieved from a database using a query is quite important in the context of managerial decision making. Parssian et al. (Parssian, A., S. Sarkar, V. S. Jacob. 2004. Assessing data quality for information products: Impact of selection, projection, and Cartesian product. Management Sci. 50(7) 967–982) propose a methodology to determine the quality profile of the result of a query from the quality profile of the source data. Although they consider an important problem, and the proposed methodology is quite useful in practice, some of their results for the selection operation are not correct in general. Here, we identify these errors and present appropriate corrections. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2316 [article] Reassessing data quality for information products [texte imprimé] / Debabrata Dey, Auteur ; Subodha Kumar, Auteur . - 2011 . - pp. 2316-2322. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2316-2322 Mots-clés : Information  quality  Quality  metrics  Relational  model  Selection  operation Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : The quality profile of information retrieved from a database using a query is quite important in the context of managerial decision making. Parssian et al. (Parssian, A., S. Sarkar, V. S. Jacob. 2004. Assessing data quality for information products: Impact of selection, projection, and Cartesian product. Management Sci. 50(7) 967–982) propose a methodology to determine the quality profile of the result of a query from the quality profile of the source data. Although they consider an important problem, and the proposed methodology is quite useful in practice, some of their results for the selection operation are not correct in general. Here, we identify these errors and present appropriate corrections. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2316

Design for location? / Erica Fuchs in Management science, Vol. 56 N° 12 (Décembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2323-2349 Titre : Design for location? : The impact of manufacturing offshore on technology competitiveness in the optoelectronics industry Type de document : texte imprimé Auteurs : Erica Fuchs, Auteur ; Randolph Kirchain, Auteur Année de publication : 2011 Article en page(s) : pp. 2323-2349 Note générale : Management Langues : Anglais (eng) Mots-clés : International  Technology  choice  Product  development  Design  for  manufacturing Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper presents a case study of the impact of manufacturing offshore on technology competitiveness in the optoelectronics industry. It examines a critical design/facility location decision being faced by optoelectronic component manufacturers. This paper uses a combination of simulation modeling and empirical data to demonstrate the economic constraints facing these firms. The results show that production location changes the relative production economics of the two competing designs—one emerging, one prevailing—that are currently perfect substitutes for each other on the telecom market, but not necessarily perfect substitutes in other markets in the long term. Specifically, if optoelectronic component firms shift production from the United States to countries in developing East Asia, the emerging designs that were developed in the United States no longer pay. Production characteristics are different abroad, and the prevailing design can be more cost effective in developing country production environments. The emerging designs, however, have performance characteristics that may be valuable in the long term to the larger computing market and to pushing forward Moore's law. This paper concludes by exploring the dilemma this creates for the optoelectronic component manufacturers and recommending a framework based on which the results may be generalized to other industries. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2323 [article] Design for location? : The impact of manufacturing offshore on technology competitiveness in the optoelectronics industry [texte imprimé] / Erica Fuchs, Auteur ; Randolph Kirchain, Auteur . - 2011 . - pp. 2323-2349. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 12 (Décembre 2010) . - pp. 2323-2349 Mots-clés : International  Technology  choice  Product  development  Design  for  manufacturing Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper presents a case study of the impact of manufacturing offshore on technology competitiveness in the optoelectronics industry. It examines a critical design/facility location decision being faced by optoelectronic component manufacturers. This paper uses a combination of simulation modeling and empirical data to demonstrate the economic constraints facing these firms. The results show that production location changes the relative production economics of the two competing designs—one emerging, one prevailing—that are currently perfect substitutes for each other on the telecom market, but not necessarily perfect substitutes in other markets in the long term. Specifically, if optoelectronic component firms shift production from the United States to countries in developing East Asia, the emerging designs that were developed in the United States no longer pay. Production characteristics are different abroad, and the prevailing design can be more cost effective in developing country production environments. The emerging designs, however, have performance characteristics that may be valuable in the long term to the larger computing market and to pushing forward Moore's law. This paper concludes by exploring the dilemma this creates for the optoelectronic component manufacturers and recommending a framework based on which the results may be generalized to other industries. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/12/2323

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