This paper uses a real options approach to analyze investments in process improvement. We develop a simple, stochastic model of a firm making investment decisions in process improvement. Our analysis offers several interesting insights into investments in process improvement. First, early...

With the proliferation of digital social networks and social media like Facebook, Twitter, and Instagram, businesses increasingly used referral programs to increase market exposure and sales. We study the interactions between social learning and referral programs and examine their impact on...