We formulate baseball as a finite Markov game with approximately 3.5 million states. The manager of each opposing team is the player who maximizes the probability of their team winning. We derive, using dynamic programming, a recursive formula which is satisfied by Markov perfect equilibria and...

This paper proposes a new efficient algorithm for the computation of Greeks for options using the binomial tree. We also show that Greeks for European options introduced in this article are asymptotically equivalent to the discrete version of Malliavin Greeks. This fact enables us to show that...

Large-scale databases in marketing track multiple consumers across multiple product categories. A challenge in modeling these data is the resulting size of the data matrix, which often has thousands of consumers and thousands of choice alternatives with prices and merchandising variables...

Through research into new product development processes at a precision device maker, this paper discusses the skilful management of knowledge boundaries that lie between various organizations, and between specialized human skills and functions that make up a project organization, and presents...

In this paper, we propose a multivariate time series model for over-dispersed discrete data to explore the market structure based on sales count dynamics. We first discuss the microstructure to show that over-dispersion is inherent in the modeling of market structure based on sales count data....

This paper presents a theoretical framework under which large companies should be able to bring about strategy transformation. Firstly, we present the concept of "strategic innovation capability," a corporate system capability to achieve corporate strategy transformation by strategic innovation....

In this study, we develop structural models of preference change due to consumer state dependence through satiation by purchase experience. A dynamic factor model with switching structure is proposed to explain consumer preference changes. Two types of dynamic factor models are separately...

This study examines the role of leading indicators in a managerial contracting setting. For the purpose of incentive provision when the outcome of the manager's activities are in the long run, the use of leading indicators such as customer satisfaction is often observed. In the two-period...

This paper examines the historical process behind the development of iron ore in the state of Western Australia by the British mining company Rio Tinto from 1959 to 1962. To analyze Rio Tito's iron ore operations, the author applies Michael Porter's 'five forces' concept. In its uranium case,...

There are many small and medium enterprises(SMEs) in Japan and they support Japanese economy. Though many researchers about balanced scorecard(BSC) focus on large companies' case not on SMEs. We have introduced BSC into Japanese SMEs for six years. Referring to several cases, we would like to...