This paper discusses the problems in interpreting the correlation coefficient as a measure of geographical accessibility to public services by income groups. As an alternative a relative index is proposed which incorporates the unique limits to the correlation coefficient in any area and thus...

We investigate the nature of competitive equilibrium for brands competing in a multi-attribute product space when consumer preferences for product attributes follow nonuniform distributions. We establish subgame-perfect equilibria in a two-stage game, where firms choose positions in the first...

Using a simulated supply chain experiment based on the well-known "beer game," we examine how changes in order and delivery cycles, availability of shared point-of-sale (POS) information, and the pattern of customer demand affect supply chain efficiency. We find that speeding up cycle time is...

This paper describes a phenomenon called "locally rational" decision-making, in which the mere presence of information may have dysfunctional consequences even if decision makers do not process the information incorrectly. Using the results from an experiment conducted with a strategic market...

Financial theory posits that capital markets convey through stock prices their expectation of the firm's future performance. We use concepts from principal-agent theory and prospect theory to provide a theoretical explanation for the role stock price variation plays in managerial decision...

In our paper, “Cross-Validating Regression Models in Marketing Research,” which appeared in the Vol. 12, No. 4, Fall 1993 issue of Marketing Science, pp. 415–427, we develop a formal statistical test for cross-validating regression models under the simple random splitting framework. The...