Qualitative representations of negotiations: Tutorial on a rule-based approach

This article introduces a logic-based approach for structuring and representing negotiation problems and for supporting negotiators. It is argued that rule-based formalism allows for integrating decision-making aspects unique and specific to negotiations with general reasoning mechanisms based on rationality postulates. The discussion of the rule-based systems and its application to negotiation modeling and support is preceded by an outline of qualitative and quantitative approaches to problem representation and reasoning, and an overview of predicate calculus. The advantages and disadvantages of rule-based systems and their ability to capture complex negotiation decision processes and reasoning are also given.     

The Determinants and Consequences of Information Acquisition via EDGAR

Using a novel data set that tracks all web traffic on the SEC's EDGAR servers from 2008 to 2011, we examine the determinants and capital market consequences of investor information acquisition of SEC filings. The average user employs the database very few times per quarter and most users target specific filing types such as periodic accounting reports; a small subset of users employ EDGAR almost daily and access many filings. EDGAR activity is positively related with corporate events (particularly restatements, earnings announcements, and acquisition announcements), poor stock performance, and the strength of a firm's information environment. EDGAR activity is related to, but distinct from, other proxies of investor interest such as trading volume, business press articles, and Google searches. Finally, information acquisition via EDGAR, both to obtain earnings news and to provide context for it, has a positive influence on market efficiency with respect to earnings news. Overall, our results are important because they provide a unique, user‐based perspective on investor access of mandatory disclosures and its impact on price formation.     

Sales Concessions in the US Housing Market

This article examines the use of concessions in the US housing market, specifically payments for closing costs, home warranties, and structural repairs. This is the first study to examine the motivations and characteristics of homeowners that utilize concessions. It also examines the impact concessions have on transaction prices and marketing durations. While the literature has attempted to determine if concessions can reduce marketing durations or increase transaction prices, the evidence is tainted by endogeneity and sample issues. Additionally, we find that relative bargaining power between buyers and sellers has a fundamental effect on how concessions alter prices and marketing durations. This aspect has been considered only narrowly in the extant literature. Our results demonstrate that when sellers have bargaining power, transactions including concessions exhibit higher prices and shorter marketing durations. Conversely, when buyers have greater negotiation leverage, transactions including concessions experience lower prices and longer marketing periods.     

Spatial Statistics Applied to Commercial Real Estate

Portfolio theory shows that diversification can enhance the risk-return trade-off. This study uses the absolute location of commercial real estate property along with spatial statistics to address the inherent problem of determining geographical diversification based upon a set of economic and property-specific attributes, some of which are unobservable or must be proxied with noise. We find that commercial real estate portfolios exhibit statistically significant spatial correlation at distances ranging from adjacent zip codes to neighboring metropolitan areas. Given the common structure of dependence found in the data series, we discuss feasible strategies for obtaining diversification within direct-investment real estate portfolios.     

The impact of follower narcissism and LMX perceptions on feeling envied and job performance

Feeling envied is often an unfortunate consequence of excelling at one’s job. Despite much evidence that envied employees are the targets of resentment and hostility, little is known regarding the antecedents and consequences of feeling envied in the workplace. The current study addresses (1) the effect of employee narcissism on feeling envied, (2) the interactive effect of narcissism and leader-member-exchange (LMX) on feeling envied, and (3) the relationship between feeling envied and performance. Hypotheses were tested using a sample of 20 locations of a restaurant chain (N = 184) and were supported. Specifically, narcissism positively affects feeling envied, which in turn negatively affects performance. Simple slopes analyses indicate that high narcissism and high LMX result in the highest levels of feeling envied while low narcissism and high LMX result in the lowest levels of feeling envied.     

Exploring the influence of envy on service engagement

Consumer retention is central to service firm objectives and is often the focus of firm initiated activities. However, consumer-driven processes that operate independently of firm initiated activities also influence retention. By understanding the consumption goals of service consumers, management can encourage behavioural engagement with service offerings and improve retention outcomes. Positional services provide opportunities for social status enhancement (e.g. higher education) and attract consumers seeking the positional benefits offered. Service consumers compete for positional benefits and monitor their success relative to other service consumers via positional comparisons. Envy, an emotion with benign and malicious types, is experienced if the positional comparison with another service consumer is unfavourable and influences behavioural engagement. This study proposes and qualitatively tests a conceptual model linking positional comparison and envy to changes in consumers’ behavioural engagement with a service depending on the type of envy experienced. The findings support benign envy as a motivator for increased behavioural engagement with a service. The study also supports the existence of a ‘positional’ service category in which envy is an endemic emotional theme influencing behavioural engagement in these service environments. A two-tiered approach to the management of envy involving positional goal recognition and appraisal based tactics is recommended.