Product Differentiation,Industry Concentration and Market Share Turbulence

Building on the current theory of industrial concentration, we analyze the relation between market size and product differentiation, and show how product differentiation impacts market share turbulence. We first propose that in markets where vertical product differentiation dominates, firms will have an incentive to escalate investment in advertising and/or R&D as market size increases. Secondly, such (firm‐specific) investments will make competitive advantage more sustainable as the firm is less imitable. This will not be the case if the market is primarily characterized by homogeneous products or horizontal product differentiation. Our predictions are tested using an original EU dataset for 1987 and 1997. Our results strongly support our predictions – the degree of market share turbulence increases with market size. However, this relation is weakened by competitive investment in advertising and R&D.     

Leapfrogging in a Vertical Product Differentiation Model

The model considers a two-period duopoly game where in the first period the leader produces a good with a given quality and the other firm can only imitate it. It is the Stackelberg case where, in addition, the leader has the choice of the quality of the good and the imitation is costly, but not prohibitively so. Under this assumption quantities and profits in terms of the quality are derived as subgame perfect equilibrium. In the second period there exists the possibility for the leader and/or the follower to make an investment. The outcome of this is uncertain: it could either be the case that a good of better quality can be introduced, or that a cost-reduction in producing the existing good is attained. The former case is a product innovation, whereas the latter case is a process innovation. By solving the game backwards as a function of the quality of the first period, there exists the possibility of an equilibrium where the follower chooses to invest and the leader does not invest .     

基于Nested—Logit模型和产品差异性理论哦企业“广义利润”最大化策略及应用

本文介绍了Logit模型,并分析了Logit不足,引出了更适合于研究产品之间的替代关系的Nes- ted-Logit模型。考虑到国内家电市场价格战现状,提出有别于“利润”概念的“广义利润”,其中涉及到与市场份额有关的“长远利润”。通过市场份额与价格的联系,制定使企业广义利润最大化的价格,同时通过计算机模拟轿车市场的定价,我们将会更加深刻地体会模型的实际使用。在追求广义利润最大化的基础之上,我们假设产品差别市场中存在纳什均衡,随后通过理论与计算机方法考虑在博弈情况下的定价组合。     

手机银行差异化发展策略浅议

手机银行越来越成为改变金融业竞争格局的新型服务渠道。同时也是现代商业银行应对竞争的一种必然选择。随着我国金融业开放程度进一步扩大,中外银行在新业务领域的竞争将更加激烈。因此,银行业大力发展手机银行,应该迎接个性化、多元化、国际化等各个方面的挑战,走差异化路线。本文结合实际,提出了手机银行差异化发展的五个可行方向,试图提高手机银行业务对客户的吸引力。     

混合绩效评估下的区位——价格竞争研究

本文以具有平方交通成本的Hotelling模型为基础,探讨了存在混合绩效评估时两企业两阶段区位—价格竞争问题。混合绩效评估的含义是,每个企业的"实际收益"不但依赖于自己的利润,还依赖于它与对手企业的利润之差,而实际收益对利润之差的敏感度代表了相对绩效评估权重。分析表明,对应于不同的相对绩效评估权重,本文模型可以产生包括"最小化差异原理"、"最大化差异原理"等在内的各种均衡结果。作为一个应用,本文模型也可以为理解困扰中国经济发展的重复建设现象提供一些新的洞见。     

How do dynamic capabilities explain hotel performance?

This research study explores the relationship between three dynamic capabilities and their impact on hotel performance. Specifically, we examine the relationship between human resource management (HRM), quality management (QM) and sustainability. In addition, we analyse how QM and sustainability explain hotel performance measured by occupancy rate, average daily rate (ADR) and revenues per available room (RevPAR). These capabilities can generate income, enabling hotels to adapt as quickly as possible to the changing environment. Findings show a significant relationship between HRM, QM and sustainability. The relationship between QM and hotel performance and between sustainability and hotel performance is fully mediated by the differentiation competitive advantage. Our results represent an advance in hotel theory and management because they integrate HRM, QM and sustainability, and show their ability to be a source of competitive advantage and profitability.     

中国省域产业融合能力:理论解构、评价方法及时空分异分析

在梳理分析产业融合影响因素的基础上，从产业融合需求拉力、供给推力及环境支撑力角度，对产业融合能力进行理论解构。在此基础上，构建区域产业融合能力评价指标体系，运用熵值法测度我国内地30个省市区2005-2016年的产业融合能力，并采用灰色关联分析法确定各子系统与区域产业融合能力的关联程度。结果表明：区域产业融合的供给推力、需求拉力和环境支撑力与产业融合能力的关联度依次下降；从时间维度看，2005-2016年我国各地区产业融合能力综合指数呈稳定上升趋势，地区产业融合能力逐渐增强；从空间维度看，我国产业融合能力地区差异明显，且呈现出东高西低、南强北弱的分布格局；从全国平均水平看，我国整体产业融合能力综合指数较低，产业融合能力不足。     

未充分就业感知对抗令创新的影响

抗令创新已引起越来越多的学者关注，然而关于其前因变量的探究仍处于初步阶段。基于创造力交互理论，从个体及团队两个层面分别选取领导成员交换、领导成员交换差异为调节变量，构建未充分就业感知对抗令创新的作用模型。运用HLM等软件分析46个团队220名员工数据，并检验相关假设。研究结果表明：①未充分就业感知与抗令创新呈正相关关系；②领导成员交换与抗令创新呈负相关关系；③领导成员交换调节未充分就业感知与抗令创新的正向关系，即随着领导成员交换水平提升，未充分就业感知与抗令创新正向关系越弱；④领导成员交换差异与抗令创新呈正向关系。     

Achieving sustained competitive advantage in retail and consumer service firms: The role of entrepreneurial orientation and entrepreneurial bricolage

The vital role of entrepreneurial orientation and entrepreneurial bricolage in creating sustained competitive advantage in retail and consumer service firms is increasingly acknowledged in modern markets. Using data from 246 retail and consumer service firms (hereafter R&CSFs) in Japan, this paper develops and empirically tests a framework delineating how entrepreneurial-oriented R&CSFs strategically combine existing resources while managing risks to differentiate their service portfolios to be competitive. The findings reveal that entrepreneurial orientation and entrepreneurial bricolage influence differentiation advantage and risk management, which, in turn, is associated with creating a sustained competitive advantage (hereafter SCA). This paper adds novel insights to the dynamic capabilities view and retail and service marketing literature by identifying entrepreneurial orientation, entrepreneurial bricolage, and risk management as dynamic capabilities, which allows R&CSFs to create service innovations in resource-constrained environments.     

Stochastic automatic differentiation: automatic differentiation for Monte-Carlo simulations

In this paper we re-formulate the automatic differentiation (and in particular, the backward automatic differentiation, also known as adjoint automatic differentiation, AAD) for random variables. While this is just a formal re-interpretation it allows one to investigate the algorithms in the presence of stochastic operators like expectation, conditional expectation or indicator functions.

We then specify the algorithms to efficiently incorporate non-pathwise operators (like conditional expectation operators). Under a comparably mild assumption it is possible to retain the simplicity of the backward automatic differentiation algorithm in the presence of conditional expectation operators. This simplifies important applications like - in mathematical finance - the application of backward automatic differentiation to the valuation of Bermudan options or calculation of xVA's.

We give the proof for a generalized version of the result. We then discuss in detail how the framework allows dramatic reduction of the memory requirements and improves the performance of a tapeless implementation of automatic differentiation (while the implementation brings advantages similar to ‘vector AAD’ (sometimes called tape compression) for free, it allows improvements beyond this. We present the implementation aspects and show how concepts from object-functional programing, like immutable objects and lazy evaluation enable additional reductions of the memory requirements.