Little Fish in a Big Pond: Legitimacy Transfer,Authenticity, and Factors of Peripheral Firm Entry and Growth in the Market Center

Research summary : How do peripheral firms compete and secure future growth? Building on literature in strategy and organizational theory, we test a model of peripheral entry and growth in the mainstream market segment. Using data from 289 craft breweries over 11 years, we find evidence that niche producers are increasingly entering the mainstream market and competing with market‐center firms. We identify two mechanisms contributing to these actions: legitimacy transfer and cognitive claims of authenticity. As hypothesized, imitation of niche products by macro breweries facilitates craft beer entry into mainstream markets. Moreover, two authenticity‐based identity codes are found to reliably influence craft brewery growth: a local identity (i.e., operating in one's local market) and a product proliferator identity (i.e., offering a more diverse set of products) . Managerial summary : How can small niche firms compete with larger, more established organizations? By examining the rapidly expanding craft beer industry, this study explores how craft breweries are able to both enter the market space of these larger competitors and secure sustained patterns of growth. Specifically, we highlight two factors influencing the success of craft breweries. First, as major beer producers mimic niche products (i.e., faux craft beer), smaller niche firms are allowed to enter the market by exposing the typical consumer to the tastes of craft beer. Second, craft breweries enjoy increased success if they (a) emphasize the local elements of their company, and/or (b) offer a larger number of products . Copyright © 2017 John Wiley & Sons, Ltd.     

Measuring Identification Risk in Microdata Release and Its Control by Post‐randomisation

Statistical agencies often release a masked or perturbed version of survey data to protect the confidentiality of respondents' information. Ideally, a perturbation procedure should provide confidentiality protection without much loss of data quality, so that the released data may practically be treated as original data for making inferences. One major objective is to control the risk of correctly identifying any respondent's records in released data, by matching the values of some identifying or key variables. For categorical key variables, we propose a new approach to measuring identification risk and setting strict disclosure control goals. The general idea is to ensure that the probability of correctly identifying any respondent or surveyed unit is at most ξ, which is pre‐specified. Then, we develop an unbiased post‐randomisation procedure that achieves this goal for ξ>1/3. The procedure allows substantial control over possible changes to the original data, and the variance it induces is of a lower order of magnitude than sampling variance. We apply the procedure to a real data set, where it performs consistently with the theoretical results and quite importantly, shows very little data quality loss.     

Court Efficiency and Procurement Performance

Disputes over penalties for breaching a contract are often resolved in court. A simple model illustrates how inefficient courts can sway public buyers from enforcing a penalty for late delivery in order to avoid litigation, thereby inducing sellers to delay contract delivery. By using a large dataset on Italian public procurement, we empirically study the effects of court inefficiency on public work performance. Where courts are inefficient, we find the following: public works are delivered with longer delays; delays increase for more valuable contracts; contracts are more often awarded to larger suppliers; and a higher share of the payment is postponed after delivery. Other interpretations receive less support from the data.     

Intermediate Choice Lists: How Product Attributes Influence Purchase Likelihood in a Self-Imposed Delay

Many online retailers enable consumers to postpone a purchase decision by placing a desired item onto an intermediate choice list, such as a wish list or saved-for-later list. This research demonstrates that using a list in this way decreases purchase intent for the wait-listed products, relative to the same choice made without the option to delay the decision. The findings of five experiments show that purchase likelihood is affected by a shift in the importance, or weight, of product attributes. Specifically, the attributes that are weighted more heavily in the decision to place an item on an intermediate choice list are then weighted less heavily in the decision to purchase an item from that list. This shift in attribute weighting suggests that consumers may switch from more noncompensatory to more compensatory decision-making between the initial decision to use an intermediate choice list, and the later decision of whether to purchase the item from the list. This process tends to diminish the importance of the attractive attributes that encouraged consumers to put these items on lists in the first place. These findings have implications for retailers who wish to understand the risks and benefits of wish lists and related tools, and for consumers who desire to reduce impulsive purchases.     

一种新型正交相关延迟混沌开关键控系统

在相关延迟键控(CDSK)和混沌开关键控(COOK)这两种传统方案的基础上提出了一种新型的混沌键控方案——正交相关延迟混沌开关键控(OCD-COOK)。该方案结合了CDSK系统和COOK系统各自的特点，同时引入了一对简单的Walsh码序列，克服了CDSK系统误码性能差的缺点，具有比特误码率低、传输速率高、安全性好等优势。理论分析及仿真结果均表明，该系统的比特误码率低于CDSK和差分混沌键控(DCSK)，传输速率是DCSK的2倍，具有很好的实际应用价值。     

伪码信号辅助的CEI载波时延模糊度解算

针对连线干涉测量系统(CEI)在无模型时延或模型时延不准确条件下相位模糊度解算困难的问题，提出了利用伪码测距信号辅助的载波相位模糊解算方法。在测站距离约束下，根据两站所接收伪码信号的相对位置关系计算得到一个时延差作为解载波相位模糊的时延预报值。为了提高解模糊能力，引入了伪码捕获和跟踪的基本方法。仿真分析了不同信噪比下所能达到的最大精度，结果表明在信噪比高于0 dB时，可直接解算S频段的载波相位模糊；在信噪比较低时，可解算宽带群时延的相位模糊。在0dB和-30dB条件下重复试验1 000次，正确率分别达到99.88%和99.91%，证明了算法的有效性。     

基于非参量累积和的合作频谱感知

针对认知无线电网络中频谱感知的检测时延降低问题，提出了基于非参量累积和的合作频谱感知算法。本地认知用户预处理频谱观测数据，获得观测数据相对于信念值的正向漂移和负向漂移。为了缩短检测延迟，认知用户只将数据的正向漂移同步传输至融合中心。融合中心融合正向漂移得到判决信息，采用非参量累积和算法依时间序列顺序累加判决信息，判断主用户是否正在使用授权频段。为了解决不传输负向漂移引起的虚警问题，改进算法提出融合中心可以保留首次判决，经过等待时间间隔后再作出最终判决。相对于传统的软融合算法，改进融合规则的合作频谱感知算法具有较低的检测延迟。     

Determinants of flight delays at East Asian airports from an airport,route and network perspective

Previous studies on determinants of flight delays have been limited to the attributes of departure and arrival airports and routes and experiences in North America and Europe. This research extends the existing discussions by considering a network perspective to explore East Asian airports. A total of 4611 routes among 318 airports in the second half of 2017 are analyzed using panel data regressions. Results show that the attributes of airports and routes linked with the departure and arrival airports of a flight are the essential determinants of flight delays in East Asia. However, the congestion internalization and hubness effect of departure and arrival airports suggested in previous research are not observed in this region. The associations of slot control levels and route attributes with delays are varying between airports inside and outside China and domestic and international routes. This research supplements a new perspective to understand the determinants of flight delays in existing literature and provides a rarely observed knowledge to encourage East Asian airport operators and carriers developing management strategies for minimizing flight delays.     

Profitability of time series momentum

We propose a continuous-time heterogeneous agent model consisting of fundamental, momentum, and contrarian traders to explain the significant time series momentum. We show that the performance of momentum strategy is determined by both time horizon and the market dominance of momentum traders. Specifically, when momentum traders are more active in the market, momentum strategies with short (long) time horizons stabilize (destabilize) the market, and meanwhile the market under-reacts (over-reacts) in short-run (long-run). This provides profit opportunity for time series momentum strategies with short horizons and reversal with long horizons. When momentum traders are less active in the market, they always lose. The results provide an insight into the profitability of time series momentum documented in recent empirical studies.     

基于KG316T微电脑时控开关控制电脑开关机的实现

本文介绍了关于对KG316T微电脑时控开关进行内部改造,使其按控制要求定时输出点动信号,以便实现在无人职守的场合定时控制电脑的开关机。