Today's volatile market conditions in electronic industries have lead to a new production system, seru (which is the Japanese pronunciation for cell), and has been widely implemented in hundreds of Japanese and other Asia companies. In particular, the rotating seru has been widely implemented,...

This paper investigates the implication of correlation ambiguity to investor behavior, asset pricing and issuers' listing choices from a market microstructure perspective. We introduce two markets to a multi-asset model: Market A is transparent and Market B is opaque, or Market A with low and...

The freemium pricing model has become mainstream in the software industry. A large user base can induce positive network effects while expanding security risks associated with unpatched users. This study explores a two-stage decision problem faced by software vendors that involves a freemium...