Price uncertainty and the effect of capital costs in a point in-point out inventory investment

This paper analyzes a point in-point out inventory investment under price uncertainty. The optimal quantity is determined by maximizing the expected value of the investor's risk preference function, which is a function of profit. Using an exponential risk preference function, the adjustment in the optimal quantity stemming from a change in the interest rate is investigated. The main conclusion is that the sign of the adjustment depends both on how profit is expressed and on the type of price distribution applied. Contrary to what is assumed in conventional managerial control practices, a rise in the interest rate might lead to an increase in the optimal quantity when present value serves as a measure of profit.     

Evaluating the risk of patent infringement by means of semantic patent analysis: the case of DNA chips

In this paper, we are going to present a method for detecting the risks of patent infringement by evaluating similarities between patent documents on the basis of semantic patent analysis. This approach enables the user to visualize similarities in the contents on a semantic patent map by means of multi‐dimensional scaling. The effectiveness of the semantic patent map has already been demonstrated by Dressler (2006) with regard to patents of seal technology, in which documents are commonly kept short and the extracted contents are concise. This paper will open out to the field of biotechnology, where patents can easily comprise several hundreds of pages. The method presented here conveys an interdisciplinary approach and combines computer‐aided natural language processing with domain‐specific expertise of biochemical processes. This is illustrated by an authentic case of infringement involving two manufacturers of DNA chips. Our experiment will show how the infringement case is visualized on a patent map based on semantic patent analysis. This experiment can be compared with the search for a needle in a haystack, the two competitive patents representing significantly conflicting ‘needles.’ From an approximate number of 4,000 patents in the current US Class 435/6, a set of patents was selected that included the ‘needles’ mentioned. This paper will point out how such mutual interference can be detected by way of semantic patent analysis, and what advice may be given to R&D managers who are faced with the risk of patent infringement.     

Poaching and Firm‐Sponsored Training

A series of seminal papers argues that poaching hampers company‐sponsored general training. Empirically, however, the existence and extent of poaching remain open questions. We provide a novel empirical strategy to identify poaching. We find that only few apprenticeship training firms in Germany are ‘poaching victims’ or ‘poaching raiders’. Victims are more likely to be in a temporary downturn and raiders are more likely to be growing. Victims hardly change their training strategy after poaching and poaching seems be a transitory event. This is an important result for countries that intend to introduce apprenticeship‐type training and need to convince firms to participate in training.     

Berlin Fashion Week：An Inspiring Blend of Genres and Formats

The sheer numbers are impressive：since it opened its doors for the very first time in January 2003,Berlin Fashion show has experienced steady growth.Berlin Fashion week from July 8th to14th was another milestone in this range of growths figures：More than 200,000professional visitors were attracted by over 200 events, 100 of which were fashion shows.     

The role of destination personality fit in destination branding: Antecedents and outcomes

Drawing from fit research in strategic management, this study develops and investigates a model predicting destination attitude and (re)visit intention. The study introduces the concept of destination personality fit on the basis of how well consumer perceptions of a tourist destination's brand personality fits that of what the destination brand manager wishes to convey. A model incorporating destination advertising awareness as an antecedent of destination personality and consumer‐manager destination personality fit is tested on international consumers with the destination personality of Switzerland as the study setting. Structural equation modeling results reveal that destination advertising awareness does indeed relate positively to both stronger perceived destination personality and destination personality fit in consumers’ minds. Interestingly, the subsequent destination personality–destination attitude relationship is moderated by consumer–manager destination personality fit in such a way that the link grows stronger in cases where fit is high. The results have important implications for destination brand managers in that they reinforce the importance of strong and distinct destination personalities. The findings also show the importance of actively communicating the destination brand to consumers since the positive outcomes of a strong destination personality increase in magnitude when successfully communicated, and the vision of the destination brand manager has been adopted by the consumer.     

A Sealed-Bid Two-Attribute Yardstick Auction Without Prior Scoring

We analyze a two-attribute single item procurement auction that uses yardstick competition to settle prices. The auction simplifies the procurement process by reducing the principal’s articulation of preferences to simply choosing the most preferred offer as if it was a market with posted prices. This is done simply by replacing the submitted sealed bids by yardstick bids, computed by a linear weighting of the other participants’ bids. We show that there is only one type of Nash equilibria where some agents may win the auction by submitting a zero price-bid. Using a simulation study we demonstrate that following this type of equilibrium behavior often leads to winner’s curse. The simulations show that in auctions with more than 12 participants the chance of facing winner’s curse is around 95 %. Truthful reporting, on the other hand, does not constitute a Nash equilibrium but it is ex post individually rational. Using a simulation study we demonstrate that truthful bidding may indeed represent some kind of focal point.     

Active and Forced Choice for Overcoming Status Quo Bias: A Field Experiment on the Adoption of “No junk mail” Stickers in Berlin,Germany

Consumers around the world are burdened by large amounts of unaddressed junk mail. Attaching “No junk mail” stickers to mailboxes offers a simple solution for protecting against unwanted ads. Presumably, the use of such stickers can be increased if consumers deliberately decide either for or against receiving junk mail. This conjecture of status quo bias was tested in a field experiment run with more than 900 households in Berlin, Germany. In one treatment, stickers were put into mailboxes, facilitating active choice. In a second treatment, stickers were attached halfway onto the outsides of mailboxes, forcing consumers to either remove or fully attach them. It was found that roughly a fifth of the sample attached a sticker after treatment. With uptake of more than 21, as compared to 16%, the forced choice was more effective than the active choice treatment. The findings highlight the importance of green nudges and defaults for promoting pro-environmental behaviour. Implications for landlords of the presented interventions are discussed. The field of social norms is identified as a promising area for extending the scope of the present study.     

Cognitive,Emotional, and Sociocultural Processes in Consumption

This article examines deliberative, emotional, and sociocultural processes in consumption. The authors draw upon basic processes from two leading theories in social psychology, the theory of planned behavior (TPB) and the model of goal‐directed behavior (MGB), to develop a comprehensive approach to decision making more appropriate for many consumption decisions, and revise the representation and modeling of key variables to better reflect how social psychological processes relate to consumer behavior. A survey was conducted among real adult consumers of bacalhau in Portugal. Because it is most common for women to prepare bacalhau meals in Portugal, 153 female participants were recruited for this survey. The results show that the TPB, and especially the MGB, are found to explain food consumption decisions well but only after the approaches are modified in form and content to accommodate the complex emotional and social aspects of the consumption context. The results also show that the effects of key determinants of desire in the MGB are contingent on the traits of food involvement and cultural orientation (i.e., degree of vertical individualism). The approach taken herein overcomes limitations of existing theories by synthesizing relevant processes across two leading theories and by introducing new variables and processes, thereby showing that the organization of these processes and their contingency on cultural variables regulate consumption.     

ERP On Demand Platform

Platforms for SaaS-based enterprise applications are prospering and the number of on-demand ERP vendors is increasing. We combine both phenomena for the first time and illustrate how the integration of a sustainability benchmarking service into an on-demand ERP platform provides added value beyond pure cost savings. By applying a qualitative system dynamics approach we identify self-reinforcing mechanisms which allow a faster and more comprehensive market penetration compared to providing these services separately.