Raising rivals’ cost in multi-unit auctions

The objective many telecom regulators want to achieve when they decide to auction spectrum is that acquiring firms pay a market price (based on the opportunity cost principle). The simultaneous ascending auction may fail in this respect, as it provides bidders with an opportunity to engage in strategic demand reduction. This paper asks whether the combinatorial clock auction (CCA) fares better in this respect. We show that the answer to this question depends on the objectives bidders have. If bidders have only the slightest preference to raise rivals’ cost, they will use the opportunities the CCA provides them to engage in strategic demand expansion. This is even the case when the clock phase ends with excess demand.     

The information paradox in a monopolist’s credence goods market

Credence good markets, such as those for car repairs and medical treatments, are generally characterized by an ex-ante and ex-post information asymmetry between the uninformed customers and the informed expert. In this paper, we allow for both uninformed as well as informed customers to exist in a monopolist credence goods market. We analyze the implications of this kind of informational heterogeneity for the expert’s pricing decisions, incentives to commit fraud, as well as market efficiency and social welfare under different institutional arrangements. Most importantly, our approach enables us to evaluate endeavours to improve the level of customers’ information. Contrary to basic intuition, we find that recent developments and policy measures originally aimed at improving social welfare by increasing the level of information might actually backfire.     

The origins of power in buyer–seller relationships

Who, or what, holds power in business-to-business buyer–seller relationships is a debate at the heart of power theory. Power in buyer–seller relationships is variously seen as the property of organizations, individuals or relationships yet to be theoretically valid and useful to management, integration of these schools of thought needs to be operationalized. This paper opens up future research avenues through identifying how buyers and sellers understand the origins of power and the nature of self perceived and countervailing power. The paper presents results from 10 focus groups of both buyers and sellers revealing the underlying origins of experienced power. The results support the proposition that power in buyer–seller relationships is a pluralistic concept and that extant theories focused on organizational, individual or relational elements of power are independently too narrow in their reflections of the power construct; rather, they are all part of the same broad construct.     

Women’s empowerment and gender equity in agriculture: A different perspective from Southeast Asia

Women’s empowerment is considered a ‘prerequisite’ to achieving global food security. Gender systems, however, are diverse and complex. The nature and extent of gender inequity and the conditions necessary to empower women vary across countries, communities and regions. The study of different gender systems is thus fundamental to capture cross-cultural variations in gender specific needs and constraints to effectively address gender gaps. Although the status of women in agriculture has received extensive attention in the literature in recent decades, a research gap persists regarding the state of gender inequity in Southeast Asian agriculture. The current paper contributes to the geographical scope of the literature by presenting empirical evidence of gender inequity from four Southeast Asian countries: Myanmar, Thailand, Indonesia and the Philippines. Using the framework recommended by the Women’s Empowerment in Agriculture Index (WEAI), 37 focus group discussions were conducted with 290 women farmers in the above mentioned countries. The results reveal trends that contradict the conventional narratives of gender inequity in agriculture in certain domains of empowerment. In all four countries, women appear to have equal access to productive resources such as land and inputs, and greater control over household income than men. Important intra-regional heterogeneity is observed in terms of community-level empowerment. While women play an active role in agricultural groups in Thailand and in the Philippines, this is predominantly men’s territory in Indonesia and Myanmar. These findings imply that country-specific gender intervention frameworks are necessary to overcome gender gaps in agriculture.     

Bidder asymmetries in procurement auctions: Efficiency vs. information – Evidence from railway passenger services

We estimate a structural model of procurement auctions with private and common value components and asymmetric bidders using detailed contract-level data on the German market for railway passenger services. Exploiting exogenous variation in the procurement design, we disentangle the asymmetries in private costs from asymmetries in information about the common value. While each asymmetry can rationalize a firm’s dominance, understanding its source is crucial for evaluating the auction design as welfare and revenue implications depend on the source of dominance. Our results indicate that the incumbent is slightly more cost-efficient and has substantially more precise information about the common value component. If the bidders’ strategic response to the common value asymmetry were eliminated, the average probability of selecting the efficient firm would increase by 43%-points.     

The development of post-project buyer–seller interaction in service-intensive projects

The purpose of this research is to enhance the understanding of post-project buyer–seller interaction, a topic previously studied mainly from the perspective of social exchange or sleeping relationships. With the advent of service-intensive projects, however, the dynamics of post-project interaction has changed, demanding a broader theorization. This research extends the scope of project marketing, by proposing a research framework illustrating interaction development in a longitudinal setting. We utilize the framework to analyze three projects, two of which continued for more than a decade, through a qualitative case study. The research provides empirical insight into the interaction orientations and development patterns arising in the post-project stage. It suggests that post-project interaction develops through three main orientations (cooperative development, buyer-led development, and seller-led maintenance) that vary over time, thus creating unique development patterns. The study concludes with five practical recommendations for managers to deal with evolving post-project interaction.     

Impact of information and communication technologies on agricultural households’ welfare in Benin

Information technologies are very important to transform the agricultural sector and improve economic performance. Nevertheless, does the use of information and communication technologies (ICT) improve agricultural households' welfare? To answer this, the study used a nationally representative household survey, the Comprehensive Food Security and Vulnerability Analysis (CFSVA) carried out in 2017 in Benin. The survey covered a sample of 15 000 households, however, the analysis focused on the 6502 agricultural households. An endogenous switching regression model was employed to control for selection bias and endogeneity issues. Results indicated that the use of ICT increases households' consumption expenditure by 89.6%. This implies that the use of ICT improves agricultural households' welfare. Other variables that affect agricultural households’ welfare include age, marital status, farm size, access to credit, ownership of livestock, membership in a farmer-based organization, and region of residence. Furthermore, the decision to use ICT in agricultural households depends on the level of education, age, sex, marital status, farm size, access to credit, ownership of livestock, membership in a farmer based organization, and location. These findings suggest that policies that promote the use of ICT are key to improving welfare of agricultural households in Benin. These policies must consider demographic, socio-economic, and institutional characteristics of households.     

A review of Guangdong’s garment industry in 2012

Under the impact of many factors,profit margins have been reduced in China garment enterprises.By comparison,Guangdong’s garment industry still showed a relative advantage and some highlights,at the same time,faced a challenge for development in further.Speciic performances in the following areas:     

Children’s interactions with technology in teachers’ self-reported activities in Sweden’s preschools

International Journal of Technology and Design Education - This study investigates preschool children’s interactions with technology in a Swedish context. The purpose is to broaden our...     

Effects of company visits on Dutch primary school children’s attitudes toward technical professions

Technology-oriented company visits could potentially provide children with a stimulating ‘real-world’ setting to develop more broad and positive images of and attitudes toward technology and technical professions. The present study was the first to explore whether children’s images of and attitudes toward technology, technical competencies and technical professions could be affected by technology-oriented company visits, as they are presently carried out in the Netherlands. A previously validated measurement instrument was used to measure children’s images and attitudes prior to and after the visits and results were compared to similar measurements among children who did not take part in the visits. In addition, based on recent review studies about school visits to science centers, we derived several key theoretical guidelines for organizing effective school visits. Based on these guidelines, structured interviews were carried out with all teachers prior to the company visits. Results indicated that children’s images and attitudes remained mostly unaffected by the company visits, a finding that could be explained by the fact that the level of in-school preparation, follow-up activities and teachers’ level of involvement during the visits was generally low. In addition, observations during the visits showed that the activities at the technical companies were mostly ‘hands-on’ and stereotypical (e.g., working with machines). Based on these findings, we formulate a set of new guidelines for technology-oriented company visits that could improve the desired attitudinal effects.     

Contracts as a barrier to entry: Impact of Buyer’s asymmetric information and bargaining power

An incumbent seller contracts with a buyer under the threat of entry. The contract stipulates a price and a penalty for breach if the buyer later switches to the entrant. Sellers are heterogenous in terms of the gross surplus they provide to the buyer. The buyer is privately informed on her valuation for the incumbent’s service. Asymmetric information makes the incumbent favor entry as it helps screening buyers. When the entrant has some bargaining power vis-à-vis the buyer and keeps a share of the gains from entry, the incumbent instead wants to reduce entry. The compounding effect of these two forces may lead to either excessive entry or foreclosure, and possibly to a fixed rebate for exclusivity which is afforded to all buyers.     

Effects of perceptions on LMX and work performance: Effects of supervisors’ perception of subordinates’ emotional intelligence and subordinates’ perception of trust in the supervisor on LMX and, consequently, performance

There are few studies on how the perception of supervisors by their subordinates contributes to high-quality leader-member exchange (LMX). We thus propose that the trust perception of supervisors by their subordinates can help explain the development of high-quality LMX. Furthermore, the trust perception may interact with supervisor-rated emotional intelligence to influence the quality of LMX, and, consequently, work performance. Using a longitudinal study on a sample of 285 supervisor-subordinate dyads from a manufacturing firm in China, we found that (1) supervisor-rated emotional intelligence of subordinates (Time 1) positively predicts the quality of LMX (Time 2); (2) this relationship is stronger when subordinates highly trust their supervisors (Time 1); (3) LMX (Time 2) positively predicts work performance (Time 3); and (4) LMX (Time 2) fully mediates the interactive effect of emotional intelligence (Time 1) and trust in the supervisor (Time 1) on work performance (Time 3).     

Does ownership matter in private equity? The sources of variance in buyouts' performance

We study the impact of ownership on firm performance in an unexplored governance context: private equity (PE) firms and the buyouts in which they invest. We employ a multiple‐membership, cross‐classified, multilevel model on a unique database of 6,950 buyouts realized by 255 PE firms between 1973 and 2008 in 77 countries. The results document a significant PE firm effect (4.6%), the importance of which grows as time passes. We then study three contingencies that increase the importance of the PE firm effect: (1) value addition vs. selection strategies; (2) developed vs. emerging economies; and (3) economic downturns. Our findings shed new light on the sources of variance in buyouts' performance. Copyright © 2014 John Wiley & Sons, Ltd.     

Internationalization in Japan’s service industries

The relatively low level of internationalization in Japan’s service industries is a cause of real concern among policy-makers and service industry executives. Explanations have focused on distinctive features of Japan’s culture, particularly its service culture, and idiosyncratically demanding customers. Two additional factors are also of significance: the complexity of the customer interface and process embeddedness in the home country. Mapping service sectors in terms of these two dimensions offers insights into the challenges faced by Japanese service firms, while also providing a framework for assessing home country effects in general.     

Teacher’s Interpretation of Sustainable Development

This paper describes an exploratory research project conducted with forty-five technological studies teachers in Ontario concerning their understanding and perceptions of the concept of sustainable development. The results indicate that pre-service teacher education programs need to spend more.     

Children’s developing understanding of technology

The issue of children’s conceptions of technology and technology education is seen as important by technology educators. While there is a solid body of literature that documents groups of children’s understandings of technology and technology education, this is primarily focused on snapshot studies of children aged 11 and above. There is little literature relating to individual children’s changing conceptions over time, or to children younger than 11. This paper documents and discusses the changing understanding of the meaning of the word ‘technology’ of seven children over their first 6 years of primary school (age 5–10). It seeks to explain the source of the children’s understandings of the word ‘technology’ and to suggest some teaching and planning implications for technology educators.     

The impact of auction choice on revenue in treasury bill auctions – An empirical evaluation

I evaluate whether uniform price or discriminatory auctions are revenue-superior for selling Treasury bills. To this end, I apply two structural econometric models, Hortaçsu and McAdams (2010) and Fevrier et al. (2002), to a dataset on Polish zero-coupon bonds. My secondary aim is to analyze mutual inconsistencies in prediction from these models. I find that both agree on the revenue-superiority of discriminatory auctions, by between 0.01% and 1.5%; the models’ predictions are contradictory in only 7% of auctions. The large-scale agreement of two vastly different models gives confidence that the conclusions on Polish data are robust to varying many of the underlying economic and econometric assumptions, and not likely just a modeling artifact.     

How strong is the business-to-business brand in the workforce? An empirically-tested model of ‘internal brand equity’ in a business-to-business setting

In the business-to-business sector, the brand-owner's employees are increasingly playing a key role in the representation of individual and corporate brands at the interface with actual and potential customers. Consequently, ‘internal branding’ has recently emerged as an important issue in industrial markets. This article proposes and empirically validates a theoretically structured framework for the measurement of a new construct, internal brand equity, and identifies its determinants and consequences. The findings offer evidence for the powerful impact of a brand-oriented corporate culture on internal brand equity, and demonstrate its relationship to external brand equity. Conclusions are drawn for management practice and future research.