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  • 1
    Online Resource
    Online Resource
    Evaluating replicability of laboratory experiments in economics
    American Association for the Advancement of Science (AAAS) ; 2016
    In:  Science Vol. 351, No. 6280 ( 2016-03-25), p. 1433-1436
    Details
    In: Science, American Association for the Advancement of Science (AAAS), Vol. 351, No. 6280 ( 2016-03-25), p. 1433-1436
    Abstract: The replicability of some scientific findings has recently been called into question. To contribute data about replicability in economics, we replicated 18 studies published in the American Economic Review and the Quarterly Journal of Economics between 2011 and 2014. All of these replications followed predefined analysis plans that were made publicly available beforehand, and they all have a statistical power of at least 90% to detect the original effect size at the 5% significance level. We found a significant effect in the same direction as in the original study for 11 replications (61%); on average, the replicated effect size is 66% of the original. The replicability rate varies between 67% and 78% for four additional replicability indicators, including a prediction market measure of peer beliefs.
    Type of Medium: Online Resource
    ISSN: 0036-8075 , 1095-9203
    URL: Article
    DOI: 10.1126/science.aaf0918
    RVK:
    TA 1000
    RVK:
    WA 15000
    Language: English
    Publisher: American Association for the Advancement of Science (AAAS)
    Publication Date: 2016
    detail.hit.zdb_id: 128410-1
    detail.hit.zdb_id: 2066996-3
    detail.hit.zdb_id: 2060783-0
    SSG: 11
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  • 2
    Online Resource
    Online Resource
    Cash incentives for weight loss work only for males
    Cambridge University Press (CUP) ; 2021
    In:  Behavioural Public Policy
    Details
    In: Behavioural Public Policy, Cambridge University Press (CUP)
    Abstract: When governments and healthcare providers offer people cash rewards for weight loss, an assumption is that cash rewards are versatile, working equally well for everyone – for example, for all genders. No research to date has tested for gender difference in response to financial incentives for weight loss. We show in an randomized controlled trial (RCT) ( n = 472) that cash incentives for weight loss only worked for males. The RCT consisted of a 3-month, self-administered online weight loss program. Offering a US$150 incentive for a 5% weight loss more than tripled the proportion of males who were successful, compared with a no-incentive Control arm (20.9% vs. 5.9%). On average, males in the incentive arm lost 2.4% of weight over 3 months, compared with 0.9% in the Control arm. The same incentive had no such effect on females: The average weight loss in the incentive arm was not significantly different than in the Control (1.03% and 1.44%, respectively), nor was the proportion of participants meeting the 5% weight loss goal (8.6% and 8.7%, respectively). This study shows that males respond better than females to financial incentives for weight loss.
    Type of Medium: Online Resource
    ISSN: 2398-063X , 2398-0648
    URL: Article
    DOI: 10.1017/bpp.2021.20
    Language: English
    Publisher: Cambridge University Press (CUP)
    Publication Date: 2021
    detail.hit.zdb_id: 2898150-9
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  • 3
    Online Resource
    Online Resource
    Sophisticated Experience-Weighted Attraction Learning and Strategic Teaching in Repeated Games
    Elsevier BV ; 2002
    In:  Journal of Economic Theory Vol. 104, No. 1 ( 2002-05), p. 137-188
    Details
    In: Journal of Economic Theory, Elsevier BV, Vol. 104, No. 1 ( 2002-05), p. 137-188
    Type of Medium: Online Resource
    ISSN: 0022-0531
    URL: Article
    DOI: 10.1006/jeth.2002.2927
    Language: English
    Publisher: Elsevier BV
    Publication Date: 2002
    detail.hit.zdb_id: 410539-4
    detail.hit.zdb_id: 1469177-2
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  • 4
    Online Resource
    Online Resource
    A generalized cognitive hierarchy model of games
    Elsevier BV ; 2016
    In:  Games and Economic Behavior Vol. 99 ( 2016-09), p. 257-274
    Details
    In: Games and Economic Behavior, Elsevier BV, Vol. 99 ( 2016-09), p. 257-274
    Type of Medium: Online Resource
    ISSN: 0899-8256
    URL: Article
    DOI: 10.1016/j.geb.2016.08.007
    Language: English
    Publisher: Elsevier BV
    Publication Date: 2016
    detail.hit.zdb_id: 1467668-0
    detail.hit.zdb_id: 1002944-8
    SSG: 24
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  • 5
    Online Resource
    Online Resource
    A Modeling Framework for Category Assortment Planning
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2001
    In:  Manufacturing & Service Operations Management Vol. 3, No. 3 ( 2001-07), p. 191-210
    Details
    In: Manufacturing & Service Operations Management, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 3, No. 3 ( 2001-07), p. 191-210
    Abstract: The complexity of managing a category assortment has grown tremendously in recent years due to the increased product turnover and proliferation rates in most categories. It is an increasingly difficult task for managers to find an effective assortment due to uncertain consumer preferences and the exponential number of possible assortments. This paper presents an empirically based modeling framework for managers to assess the revenue and lost sales implication of alternative category assortments. Coupled with a local improvement heuristic, the modeling framework generates an alternative category assortment with higher revenue. This framework, which consists of a category-purchase-incidence model and a brand-share model, is calibrated and validated using 60,000 shopping trips and purchase records. Specifically, the purchase-incidence model predicts the probability of an individual customer who purchases (and who does not purchase) from a given product category during a shopping trip. The no-purchase probability enables us to estimate lost sales due to assortment changes in the category. The brand-share model predicts which brand the customer chooses if a purchase incidence occurs in the category. Our brand-share model extends the classical Guadagni and Little model (1983) by utilizing three new brand-width measures that quantify the similarities among products of different brands within the same category. We illustrate how our modeling framework is used to reconfigure the category assortment in eight food categories for five stores in our data set. This reconfiguration exercise shows that a reconfigured category assortment can have a profit improvement of up to 25.1% with 32 products replaced. We also demonstrate how our modeling framework can be used to gauge lost sales due to assortment changes. We find the level of lost sales could range from 0.9% to 10.2% for a period of 26 weeks.
    Type of Medium: Online Resource
    ISSN: 1523-4614 , 1526-5498
    URL: Article
    DOI: 10.1287/msom.3.3.191.9891
    RVK:
    QA 10000
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2001
    detail.hit.zdb_id: 2023273-1
    SSG: 3,2
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  • 6
    Online Resource
    Online Resource
    Knowledge Market Design: A Field Experiment at Google Answers
    Wiley ; 2010
    In:  Journal of Public Economic Theory Vol. 12, No. 4 ( 2010-08), p. 641-664
    Details
    In: Journal of Public Economic Theory, Wiley, Vol. 12, No. 4 ( 2010-08), p. 641-664
    Abstract: In a field experiment at Google Answers, we investigate the performance of price‐based online knowledge markets by systematically manipulating prices. Specifically, we study the effects of price, tip, and a reputation system on both an answerer's effort and answer quality by posting real reference questions from the Internet Public Library on Google Answers under different pricing schemes. We find that a higher price leads to a significantly longer, but not better, answer, while an answerer with a higher reputation provides significantly better answers. Our results highlight the limitation of monetary incentives and the importance of reputation systems in knowledge market design.
    Type of Medium: Online Resource
    ISSN: 1097-3923 , 1467-9779
    URL: Issue
    URL: Article
    DOI: 10.1111/jpet.2010.12.issue-4
    DOI: 10.1111/j.1467-9779.2010.01468.x
    Language: English
    Publisher: Wiley
    Publication Date: 2010
    detail.hit.zdb_id: 1478348-4
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  • 7
    Online Resource
    Online Resource
    Assessing the impact of novelty and conformity on hesitancy towards COVID-19 vaccines using mRNA technology
    Springer Science and Business Media LLC ; 2022
    In:  Communications Medicine Vol. 2, No. 1 ( 2022-05-31)
    Details
    In: Communications Medicine, Springer Science and Business Media LLC, Vol. 2, No. 1 ( 2022-05-31)
    Abstract: Public hesitancy towards Covid-19 vaccines remains a major hurdle for mass vaccination programs today. While mRNA vaccines are more efficacious than conventional vaccines, it is unknown how much the novelty of this technology increases hesitancy. Methods We quantify this “novelty penalty” in a large online experiment with 35,173 adults in nine countries. Subjects were randomly selected and assigned to one of two vaccine groups (conventional or mRNA), and one of five hypothetical inoculation rate groups (0%, 20%, 40%, 60%, or 80%). Subjects reported their willingness to accept the Covid-19 vaccine on a five-point Likert scale. Results The novelty of the mRNA vaccine technology reduces the odds of a higher level of vaccine acceptance by 14.2% (odds ratio 0.858; p   〈  0.001). On the other hand, we find that social conformity reduces vaccine hesitancy. At a 0% inoculation rate, 31.7% report that they are “very likely” to get a mRNA vaccine while at a 20% inoculation rate, willingness jumps to 49.6%. Conclusions The novelty of the mRNA vaccine increases hesitancy, but social conformity reduces it. A small group of early adopters can provide momentum for vaccination.
    Type of Medium: Online Resource
    ISSN: 2730-664X
    URL: Article
    DOI: 10.1038/s43856-022-00123-6
    Language: English
    Publisher: Springer Science and Business Media LLC
    Publication Date: 2022
    detail.hit.zdb_id: 3096949-9
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  • 8
    Online Resource
    Online Resource
    Trust Building Among Strangers
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2005
    In:  Management Science Vol. 51, No. 4 ( 2005-04), p. 519-530
    Details
    In: Management Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 51, No. 4 ( 2005-04), p. 519-530
    Abstract: The trust-building process is basic to social science. We investigate it in a laboratory setting using a novel multistage trust game where social gains are achieved if players trust each other in each stage. In each stage, also, players have an opportunity to appropriate these gains or be trustworthy by sharing them. Players are strangers because they do not know the identity of others and they will not play them again. Thus, there is no prospect of future interaction to induce trusting behavior, and we study the trust-building process where there is little scope for social relations and networks. Standard game theory, which assumes all players are opportunistic and untrustworthy and thus should have zero trust for others, is used to construct a null hypothesis. We test whether people are trusting or trustworthy and examine how inferring the intentions of those who trust affects trustworthiness. We also investigate the effect of stake on trust, and study the evolution of trust. Results show subjects exhibit some degree of trusting behavior, although a majority of them are not trustworthy and claim the entire social gain. Players are more reluctant to trust in later stages than in earlier ones and are more trustworthy if they are certain of the trustee’s intention. Surprisingly, subjects are more trusting and trustworthy when the stake size increases. Finally, we find the subpopulation that invests in initiating the trust-building process modifies its trusting behavior based on the relative fitness of trust.
    Type of Medium: Online Resource
    ISSN: 0025-1909 , 1526-5501
    URL: Article
    DOI: 10.1287/mnsc.1040.0350
    RVK:
    QP 300
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2005
    detail.hit.zdb_id: 206345-1
    detail.hit.zdb_id: 2023019-9
    SSG: 3,2
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  • 9
    Online Resource
    Online Resource
    Managing Demand and Sales Dynamics in New Product Diffusion Under Supply Constraint
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2002
    In:  Management Science Vol. 48, No. 2 ( 2002-02), p. 187-206
    Details
    In: Management Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 48, No. 2 ( 2002-02), p. 187-206
    Abstract: The Bass diffusion model is a well-known parametric approach to estimating new product demand trajectory over time. This paper generalizes the Bass model by allowing for a supply constraint. In the presence of a supply constraint, potential customers who are not able to obtain the new product join the waiting queue, generating backorders and potentially reversing their adoption decision, resulting in lost sales. Consequently, they do not generate the positive “word-of-mouth” that is typically assumed in the Bass model, leading to significant changes in the new product diffusion dynamics. We study how a firm should manage its supply processes in a new product diffusion environment with backorders and lost sales. We consider a make-to-stock production environment and use optimal control theory to establish that it is never optimal to delay demand fulfillment. This result is interesting because immediate fulfillment may accelerate the diffusion process and thereby result in a greater loss of customers in the future. Using this result, we derive closed-form expressions for the resulting demand and sales dynamics over the product life cycle. We then use these expressions to investigate how the firm should determine the size of its capacity and the time to market its new product. We show that delaying a product launch to build up an initial inventory may be optimal and can be used as a substitute for capacity. Also, the optimal time to market and capacity increase with the coefficients of innovation and imitation in the adoption population. We compare our optimal capacity and time to market policies with those resulting from exogeneous demand forecasts in order to quantify the value of endogenizing demand.
    Type of Medium: Online Resource
    ISSN: 0025-1909 , 1526-5501
    URL: Article
    DOI: 10.1287/mnsc.48.2.187.257
    RVK:
    QP 300
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2002
    detail.hit.zdb_id: 206345-1
    detail.hit.zdb_id: 2023019-9
    SSG: 3,2
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  • 10
    Online Resource
    Online Resource
    Designing Price Contracts for Boundedly Rational Customers: Does the Number of Blocks Matter?
    Institute for Operations Research and the Management Sciences (INFORMS) ; 2007
    In:  Marketing Science Vol. 26, No. 3 ( 2007-05), p. 312-326
    Details
    In: Marketing Science, Institute for Operations Research and the Management Sciences (INFORMS), Vol. 26, No. 3 ( 2007-05), p. 312-326
    Abstract: When designing price contracts, one of the major questions confronting managers is how many blocks there should be in the contract. We investigate this question in the setting of a manufacturer-retailer dyad facing a linear deterministic consumer demand. Theoretical marketing models predict that the manufacturer’s profits rise dramatically when the number of blocks in the contract is increased from one to two because both channel efficiency and its share of channel profits increase. However, increasing the number of blocks to three yields no incremental profits. We test these predictions experimentally and find that increasing the number of blocks from one to two raises channel efficiency but not the manufacturer’s share of profits. Surprisingly, having three blocks in the contract increases channel efficiency even further and also gives the manufacturer a slightly higher share of profits. We show that these results can be explained by a quantal response equilibrium model in which the manufacturer accounts for noisy best response due to nonpecuniary payoff components in the retailer’s utility. We also show that the retailer is sensitive to the counterfactual profits it could have earned if it were charged a lower marginal price for earlier blocks in the multiple-block contract.
    Type of Medium: Online Resource
    ISSN: 0732-2399 , 1526-548X
    URL: Article
    DOI: 10.1287/mksc.1070.0271
    Language: English
    Publisher: Institute for Operations Research and the Management Sciences (INFORMS)
    Publication Date: 2007
    detail.hit.zdb_id: 2023536-7
    detail.hit.zdb_id: 883054-X
    SSG: 3,2
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