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Coordinating Production and Inventory to Improve Service

Sox, Charles R.; Thomas, L. Joseph; McClain, John O. - In: Management Science 43 (1997) 9, pp. 1189-1197

Customer service has assumed strategic importance in most manufacturing environments. Corporate reputations often depend on how reliably promised lead times are met. A goal of filling orders within a service window of T time units is often encountered in practice. This goal ignores the...

Persistent link: https://www.econbiz.de/10009204531

Naive Bidding

Deltas, George; Engelbrecht-Wiggans, Richard - In: Management Science 51 (2005) 3, pp. 328-338

This paper presents an equilibrium explanation for the persistence of naive bidding. Specifically, we consider a common …

Persistent link: https://www.econbiz.de/10009203703

The Name-Your-Own-Price Channel in the Travel Industry: An Analytical Exploration

Wang, Tuo; Gal-Or, Esther; Chatterjee, Rabikar - In: Management Science 55 (2009) 6, pp. 968-979

Name-your-own-price (NYOP) retailers, such as Priceline, offer an alternative distribution channel for service providers in the travel industry such as airlines, hotels, and car rental companies. Our research employs an analytical model to identify and understand key trade-offs driving the...

Persistent link: https://www.econbiz.de/10009203901

On the Estimation of Bid Distributions in Real Estate Markets

Tryfos, Peter - In: Management Science 27 (1981) 5, pp. 587-601

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...

Persistent link: https://www.econbiz.de/10009204471

Dual Sourcing in Repeated Procurement Competitions

Klotz, Dorothy E.; Chatterjee, Kalyan - In: Management Science 41 (1995) 8, pp. 1317-1327

The issue of maintaining competition over time in a repeated procurement setting is important for both government and private sector buyers. The U.S. Department of Defense has experimented with splitting production quantities between two or more contractors in an effort to make government...

Persistent link: https://www.econbiz.de/10009204475

Implications of Expected Changes in the Seller's Price in Name-Your-Own-Price Auctions

Fay, Scott; Laran, Juliano - In: Management Science 55 (2009) 11, pp. 1783-1796

and laboratory auctions to explore how the frequency of changes in the threshold price impacts consumer bidding behavior … the probability of a price change is moderate, consumers may have an incentive to use nonmonotonic bidding patterns … nonmonotonic bidding patterns. Interestingly, impatient bidders are more likely to decrease their bids at some point in the bid …

Persistent link: https://www.econbiz.de/10009204617

An Example of a Multi-Object Auction Game

Engelbrecht-Wiggans, Richard; Weber, Robert J. - In: Management Science 25 (1979) 12, pp. 1272-1277

Concurrent auctions of several objects are traditionally analyzed as if they were independent single-object auctions. Such an approximation may be very crude if bidders have budgetary restrictions, capacity constraints, or, in general, have non-linear utility functions. This paper presents a...

Persistent link: https://www.econbiz.de/10009208655

Costly Bidding in Online Markets for IT Services

Snir, Eli M.; Hitt, Lorin M. - In: Management Science 49 (2003) 11, pp. 1504-1520

Internet-enabled markets are becoming viable venues for procurement of professional services. We investigate bidding … theoretical model that relates market characteristics to bidding and transaction behavior, taking into account costly bidding. We … 30%--40% of posted projects. In its current format, however, the studied market may induce excessive bidding by vendors …

Persistent link: https://www.econbiz.de/10009208777

Low-Revenue Equilibria in Simultaneous Ascending-Bid Auctions

Engelbrecht-Wiggans, Richard; Kahn, Charles M. - In: Management Science 51 (2005) 3, pp. 508-518

Low-revenue equilibria allow participants in an auction to obtain goods at prices lower than would prevail in a competitive market. These outcomes are generated as perfect equilibria of ascending-bid, multiunit auctions. We show that these equilibria are possible under mild...

Persistent link: https://www.econbiz.de/10009209090

On a Possible Benefit to Bid Takers from Using Multi-Stage Auctions

Engelbrecht-Wiggans, Richard - In: Management Science 34 (1988) 9, pp. 1109-1120

. Yet despite the significance of such auctions, the existing theory of auctions and competitive bidding fails to explain … bidders to acquire information---or, more generally, to increase the amount of resources committed to bidding---in stages. We …

Persistent link: https://www.econbiz.de/10009209221