In many decision situations information is available from a number of different sources. Aggregating the diverse bits of information is an important aspect of the decision-making process but entails special statistical modeling problems in characterizing the information. Prior research in this...

The price at which a real property is sold depends on the initial asking price, the distribution of potential bids for the property by interested buyers, the quality and intensity of the advertising message, and the manner in which the initial asking price is revised if the property is not...

The article describes a simulation of market processes in single-family, owner-occupied housing in a metropolitan market area. The simulation was designed both as a training tool and a decision aid. Model structure is discussed in detail, and data bases for construction are described. The model...

It is commonly believed that piracy of information goods leads to lower profits, which translate to lower incentives to invest in innovation and eventually to lower-quality products. Manufacturers, policy makers, and researchers all claim that inadequate piracy enforcement efforts translate to...

We address the value of quick response production practices when selling to a forward-looking consumer population with uncertain, heterogeneous valuations for a product. Consumers have the option of purchasing the product early, before its value has been learned, or delaying the purchase...

Motivated by applications in financial services, we consider a seller who offers prices sequentially to a stream of potential customers, observing either success or failure in each sales attempt. The parameters of the underlying demand model are initially unknown, so each price decision involves...