Documents disponibles écrits par cet auteur

Designing multiperson tournaments with asymmetric contestants / Hua Chen in Management science, Vol. 57 N° 5 (Mai 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 864-883 Titre : Designing multiperson tournaments with asymmetric contestants : An experimental study Type de document : texte imprimé Auteurs : Hua Chen, Auteur ; Sung H. Ham, Auteur ; Noah Lim, Auteur Année de publication : 2011 Article en page(s) : pp. 864-883 Note générale : Management Langues : Anglais (eng) Mots-clés : Tournaments  Compensation  Sales  management  Experimental  economics  Behavioral  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Is the right amount of effort exerted in multiperson tournaments where contestants have two different levels of initial endowments (termed "favorites" and "underdogs")? We develop theoretical predictions for the level of effort and the effect of varying the prize structure. We test these predictions for three-person tournaments using an economic experiment in a social environment where contest outcomes are publicly announced. We find that both favorites and underdogs overexert effort relative to the theoretical point predictions. Moreover, in the treatment with two favorites and one underdog, favorites increase their effort when the number of prizes is increased from one to two, contrary to the theory prediction. We show that a generalized model that allows for psychological losses from losing for favorites and psychological gains from winning for underdogs because of social comparisons tracks the experimental results better than the standard theoretical model. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/864 [article] Designing multiperson tournaments with asymmetric contestants : An experimental study [texte imprimé] / Hua Chen, Auteur ; Sung H. Ham, Auteur ; Noah Lim, Auteur . - 2011 . - pp. 864-883. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 864-883 Mots-clés : Tournaments  Compensation  Sales  management  Experimental  economics  Behavioral  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : Is the right amount of effort exerted in multiperson tournaments where contestants have two different levels of initial endowments (termed "favorites" and "underdogs")? We develop theoretical predictions for the level of effort and the effect of varying the prize structure. We test these predictions for three-person tournaments using an economic experiment in a social environment where contest outcomes are publicly announced. We find that both favorites and underdogs overexert effort relative to the theoretical point predictions. Moreover, in the treatment with two favorites and one underdog, favorites increase their effort when the number of prizes is increased from one to two, contrary to the theory prediction. We show that a generalized model that allows for psychological losses from losing for favorites and psychological gains from winning for underdogs because of social comparisons tracks the experimental results better than the standard theoretical model. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/864

Reference dependence in multilocation newsvendor models / Teck-Hua Ho in Management science, Vol. 56 N° 11 (Novembre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 11 (Novembre 2010) . - pp. 1891-1910 Titre : Reference dependence in multilocation newsvendor models : A structural analysis Type de document : texte imprimé Auteurs : Teck-Hua Ho, Auteur ; Noah Lim, Auteur ; Tony Haitao Cui, Auteur Année de publication : 2011 Article en page(s) : pp. 1891-1910 Note générale : Management Langues : Anglais (eng) Mots-clés : Multilocation  inventory  system  Newsvendor  Behavioral  operations  management  Experimental  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We propose a behavioral theory to predict actual ordering behavior in multilocation inventory systems. The theory rests on a well-known stylized fact of human behavior: people's preferences are reference dependent. We incorporate reference dependence into the newsvendor framework by assuming that there are psychological costs of leftovers and stockouts. We also hypothesize that the psychological aversion to leftovers is greater than the disutility for stockouts. We then experimentally test the proposed theory in both the centralized and decentralized inventory structures using subjects motivated by substantial financial incentives. Consistent with the proposed theory, actual orders exhibit the so-called "pull-to-center" bias and the degree of bias is greater in the high-profit margin than in the low-profit margin condition. These systematic biases are shown to eliminate the risk-pooling benefit when the demands across store locations are strongly correlated. Because the proposed model nests the standard inventory and ex post inventory error minimization theories as special cases, one can systematically evaluate the predictive power of each alternative using the generalized likelihood principle. We structurally estimate all three theories using the experimental data, and the estimation results strongly suggest that the proposed behavioral theory captures actual orders and profits better. We also conduct two experiments to validate the behavioral model by manipulating the relative salience of the psychological costs of leftovers versus that of stockouts to alleviate the pull-to-center bias. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/11/1891 [article] Reference dependence in multilocation newsvendor models : A structural analysis [texte imprimé] / Teck-Hua Ho, Auteur ; Noah Lim, Auteur ; Tony Haitao Cui, Auteur . - 2011 . - pp. 1891-1910. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 11 (Novembre 2010) . - pp. 1891-1910 Mots-clés : Multilocation  inventory  system  Newsvendor  Behavioral  operations  management  Experimental  economics Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We propose a behavioral theory to predict actual ordering behavior in multilocation inventory systems. The theory rests on a well-known stylized fact of human behavior: people's preferences are reference dependent. We incorporate reference dependence into the newsvendor framework by assuming that there are psychological costs of leftovers and stockouts. We also hypothesize that the psychological aversion to leftovers is greater than the disutility for stockouts. We then experimentally test the proposed theory in both the centralized and decentralized inventory structures using subjects motivated by substantial financial incentives. Consistent with the proposed theory, actual orders exhibit the so-called "pull-to-center" bias and the degree of bias is greater in the high-profit margin than in the low-profit margin condition. These systematic biases are shown to eliminate the risk-pooling benefit when the demands across store locations are strongly correlated. Because the proposed model nests the standard inventory and ex post inventory error minimization theories as special cases, one can systematically evaluate the predictive power of each alternative using the generalized likelihood principle. We structurally estimate all three theories using the experimental data, and the estimation results strongly suggest that the proposed behavioral theory captures actual orders and profits better. We also conduct two experiments to validate the behavioral model by manipulating the relative salience of the psychological costs of leftovers versus that of stockouts to alleviate the pull-to-center bias. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/11/1891