Competition in a Dynamic Auction Market: Identification,Structural Estimation,and Market Efficiency

The model incorporates an infinite series of auctions for identical items (or close substitutes) ordered over time and bidders with unit demand. The participants of each auction are drawn from a dynamic pool, with losing bidders remaining in the pool of potential bidders. The number of bidders in each auction is unobservable. Risk‐neutral, forward‐looking bidders submit bids below valuation. A novel identification and estimation strategy is used to estimate the valuation distribution from an order statistic of the bids. The model is used to evaluate the efficiency of online auctions for a 60GB Apple iPod Video, compared to a perfect‐competition benchmark.     

Firm Characteristics and NPD Program Success: The Significant Influence of Global Discovery Management

Managing new product development (NPD) with a global point of view is argued to be essential in current business more than ever. Accordingly, many firms are trying to revitalize their NPD processes to make them more global. Therefore, examining global NPD management is one of the top priorities for research. While scholars have examined global launch management, there has been scant attention on the direct effect of global discovery management on NPD success. Therefore, this study investigates how a globally managed discovery phase enhances a firm's overall NPD success. Drawing upon the resource‐based view (RBV) and using Kotabe's ( 1990 ) generic model for market success in global competition as the overarching framework, this study examines four drivers of NPD success: global discovery management, the firm's “global footprint,” its inbound knowledge sourcing practices (i.e., “open innovation proclivity”), and nationality of the teams (i.e., “cross‐national global NPD team use”). The hypotheses are tested using a sample of 255 business units from multiple industries, headquartered worldwide, and surveyed during the 2012 PDMA Comparative Performance Assessment Study (CPAS). The PLM‐SEM analyses show that, of the four drivers examined, only global discovery management strongly influences a firm's NPD program success. The findings enhance our understanding of the particularities in global NPD. Based on the study's results, suggestions are provided as to how multinationals can leverage their international operations in the course of their front‐end activities.     

Identifying value conflicts between stakeholders in corporate travel management by applying the soft value management model: A survey in South Africa

Four stakeholders are involved in corporate travel: management, travellers, travel suppliers and travel management companies. A successful corporate travel management process is dependent on cohesion of values between these stakeholders and pursuit of common goals. Value conflicts can influence the effective management of the process. The purpose of the study was to propose a model which recognises value conflicts, the interdependence of stakeholders and incorporates common goals. The so-called ‘Soft Value Management Model’ was selected and conceptualised in the context of corporate travel management. This study defined and surveyed each stakeholder group in terms of their values and objectives on travel management information; travel policy and compliance; travel management company partnerships; and travel expenditure processing. Quantitative and qualitative techniques were used. The results show that value conflicts exist between stakeholders. The model provides a theoretical foundation against which an effective travel management process can potentially be measured.     

The influence of retirement systems on the free movement of persons in the European Union

Retirement systems within the EU are extremely complex, and regulations concerning age of retirement and qualifications for benefits differ considerably from country to country. The effects of working in another country are not transparent and can even have a negative effect on a migrant’s pension. The low migration figures between EU countries are partly a result of this situation. What changes could realistically be made in order to encourage more migration?     

Finitely additive economies with free extremely desirable commodities

Continuing the investigation on finitely additive economies with infinite dimensional commodity space, we state a core-walras individualistic equivalence for an economy where preferences admit a summable map of extremely desirable commodities. The main result extends previous equivalences obtained both in the countably additive and in the finitely additive setting. Extra assumptions on the model are discussed via a pair of examples.     

Employee empowerment in manufacturing: a study of organisations in the UK

Based on a postal survey and interviews, this paper analyses employee empowerment in the UK manufacturing industry, including how it is pursued and perceived, and the key factors that determine success. Success seems to depend on far-reaching changes in procedures, hierarchies and reward structures. This need to mobilise individual agents and structure reconfirms the agency-structure duality.