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Aspiration Level Adaptation: An Empirical Exploration

Lant, Theresa K. - In: Management Science 38 (1992) 5, pp. 623-644

formation, that adaptation is not consistently incremental, and that adaptive learning may, over time, lead to behavioral …

Persistent link: https://www.econbiz.de/10009204468

Strategic Customer Behavior, Commitment, and Supply Chain Performance

Su, Xuanming; Zhang, Fuqiang - In: Management Science 54 (2008) 10, pp. 1759-1773

This paper studies the impact of strategic customer behavior on supply chain performance. We start with a newsvendor seller facing forward-looking customers. The seller initially charges a regular price but may salvage the leftover inventory at a lower salvage price after random demand is...

Persistent link: https://www.econbiz.de/10009214000

Revenue Management with Strategic Customers: Last-Minute Selling and Opaque Selling

Jerath, Kinshuk; Netessine, Serguei; Veeraraghavan, … - In: Management Science 56 (2010) 3, pp. 430-448

Companies in a variety of industries (e.g., airlines, hotels, theaters) often use last-minute sales to dispose of unsold capacity. Although this may generate incremental revenues in the short term, the long-term consequences of such a strategy are not immediately obvious: More discounted...

Persistent link: https://www.econbiz.de/10009214098

A Jump-Diffusion Model for Option Pricing

Kou, S. G. - In: Management Science 48 (2002) 8, pp. 1086-1101

Brownian motion and normal distribution have been widely used in the Black--Scholes option-pricing framework to model the return of assets. However, two puzzles emerge from many empirical investigations: the leptokurtic feature that the return distribution of assets may have a higher peak and...

Persistent link: https://www.econbiz.de/10009204515

Conspicuous Consumption and Sophisticated Thinking

Amaldoss, Wilfred; Jain, Sanjay - In: Management Science 51 (2005) 10, pp. 1449-1466

trials, however, can be adequately captured by a purely adaptive learning mechanism. We discuss the implications of consumer … learning for optimal dynamic pricing policy by a monopolist. …

Persistent link: https://www.econbiz.de/10009191285

Implicit Understandings in Channels of Distribution

Shugan, Steven M. - In: Management Science 31 (1985) 4, pp. 435-460

other's behavior. We show that ... --This learning leads to the use of the implicit influence each channel member has over … the other's behavior. -- The learning leading to an implicit understanding requires some form of experimentation or … historical observation. -- This learning results in an oscillating retail price. -- When only one channel member learns the other …

Persistent link: https://www.econbiz.de/10009197553

On the Value of Commitment and Availability Guarantees When Selling to Strategic Consumers

Su, Xuanming; Zhang, Fuqiang - In: Management Science 55 (2009) 5, pp. 713-726

analysis to incorporate dynamic learning, multiple products, and consumer heterogeneity. …

Persistent link: https://www.econbiz.de/10009198214

The Impact of Personal Experience on Behavior: Evidence from Video-Rental Fines

Haselhuhn, Michael P.; Pope, Devin G.; Schweitzer, … - In: Management Science 58 (2012) 1, pp. 52-61

Personal experience matters. In a field setting with longitudinal data, we disentangle the effects of learning new … learning new information, significantly boosts future compliance. We also show that experience with a large fine boosts …

Persistent link: https://www.econbiz.de/10010990441

Robust Portfolio Choice with Learning in the Framework of Regret: Single-Period Case

Lim, Andrew E. B.; Shanthikumar, J. George; Vahn, Gah-Yi - In: Management Science 58 (2012) 9, pp. 1732-1746

the prior distribution, and the learning model involves Bayesian updating of these Lagrange multipliers/prior. This …. These results show that regret is a natural means by which robust decision making and learning can be combined. <i …

Persistent link: https://www.econbiz.de/10010990462

Chasing a Moving Target: Exploitation and Exploration in Dynamic Environments

Posen, Hart E.; Levinthal, Daniel A. - In: Management Science 58 (2012) 3, pp. 587-601

A common justification for organizational change is that the circumstances in which the organization finds itself have changed, thereby eroding the value of utilizing existing knowledge. On the surface, the claim that organizations should adapt by generating new knowledge seems obvious and...

Persistent link: https://www.econbiz.de/10010990471