We study the impact of learning on the optimal policy and the time-to-decision in an infinite-horizon Bayesian sequential decision model with two irreversible alternatives, exit and expansion. In our model, a firm undertakes a small-scale pilot project so as to learn, via Bayesian updating,...

Economists' view of liquidity is askin to Supreme Court Justice Stewart's View of hard-core pornography: "I shall not ... attempt further to define (it) .... But I know it when I see it". Embedding the process of selling an asset in a search environment enables us to provide an exact definition...

At the beginning of the selling season, the retailer announces both the price ph at which the product will be sold during the selling season and the post-season clearance price p' lt; ph for unsold items. Customers arrive in accord with a Poisson process, and each of the n 1 customer classes has...

We study the interaction between a group of agents who exert costly effort over time to complete a project, and a manager who chooses the objectives that must be met in order for her to sign off on it. The manager has limited commitment power so that she can commit to the requirements only when...

To reduce preventable readmissions, many healthcare systems are transitioning from Fee-for-Service (FFS) to other reimbursement schemes such as Pay-for-Performance (P4P) or Bundled Payment (BP) so that the funder of a healthcare system can transfer to the hospital some of the financial risks...

Economic growth in many countries is increasingly driven by successful startups that operate as online platforms. These success stories have motivated us to define and classify various online platforms according to their business models. This study discusses strategic and operational issues...