This paper considers the scenario where the assortment provided by the seller can influence customers' evaluation of item utility. A possible consequence is that certain items in an assortment become "star items" to customers, and customers over-evaluate their utilities. We call such a...

We find crackdown on shadow banking has real effects. For identification, we exploit a policy - “ New Regulations on Asset Management “ (NRAM) - that restricts the issuance of wealth management products (WMP) in China. We show firms with high WMP exposure experience a decline in investments....

How much deposits and equity a bank has influences how a banks’ lending responds to monetary policy. While the responsiveness for the bank lending channel has been well established, this is not the case for the risk-taking channel (RTC). We show in a value-at-risk RTC model that the lending...

Assortment optimization arises widely in many practical applications such as retailing and online advertising. In this problem, the goal is to select a subset from a universe of substitutable products to offer customers in order to maximize the expected revenue. We study a robust assortment...

We study the impact of shadow banking regulation on banks' portfolio choice and firms' investment. For identification, we exploit a policy -- "New Asset Management Rules" -- that restricts the issuance of wealth management products in China. We find that depositors substitute the WMPs with...

Motivated by the business practice whereby some manufacturers open their own retail stores despite the existence of more efficient independent retailers, this paper examines the distribution channel choice of competing manufacturers under demand uncertainty and resale price maintenance. We...

Purpose – More and more foreign companies, including multinational companies, open business in China. The staff management under the local culture of China is one of the critical points affecting the success of foreign invested companies in China. This paper aims to illustrate the effective...

In this paper we consider optimization problems defined by a quadraticobjective function and a finite number of quadratic inequality constraints.Given that the objective function is bounded over the feasible set, we presenta comprehensive study of the conditions under which the optimal solution...

In this paper we discuss a locational model with a profit-maximizing objective. The model can be illustrated by the followingsituation. There is a set of potential customers in a given region. A firm enters the market and wants to sell a certainproduct to this set of customers. The location and...

In this paper we generalize the primal--dual cone affine scaling algorithm of Sturm and Zhang to semidefinite programming.We show in this paper that the underlying ideas of the cone affine scaling algorithm can be naturely applied to semidefiniteprogramming, resulting in a new algorithm....