Modern finance theories are built on the foundation of Neoclassical economics, which says that humans are always rational, in decision making. Expected Utility Theory (EUT) of neoclassical economics states that humans make decisions primarily based on the "utility" to be derived from a decision....

Hierarchical loyalty programs award elevated customer status (e.g., “elite membership”) to consumers who meet a predefined spending level. However, if a customer subsequently falls short of the required spending level, firms commonly revoke that status. The authors investigate the impact of...

Overcrowded Emergency Departments (EDs) across locations struggle to improve patient experience while dealing with long waits, which erodes medical and financial performance. We investigate whether and how managers could improve patient satisfaction by communicating waits to patients.We conduct...