Investment in Facility Changeover Flexibility for Early Entry into High‐Tech Markets

A model is introduced to analyze the manufacturing‐marketing interface for a firm in a high‐tech industry that produces a series of high‐volume products with short product life cycles on a single facility. The one‐time strategic decision regarding the firm's investment in changeover flexibility establishes the link between market opportunities and manufacturing capabilities. Specifically, the optimal changeover flexibility decision is determined in the context of the firm's market entry strategy for successive product generations, the changeover cost between generations, and the production efficiency of the facility. Moreover, the dynamic pricing policy for each product generation is obtained as a function of the firm's market entry strategy and manufacturing efficiency. Our findings provide insights linking internal manufacturing capabilities with external market forces for the high‐tech and high‐volume manufacturer of products with short life cycles. We show the impact of manufacturing efficiency and a firm's ability to benefit from volume‐based learning on the dynamic pricing policy for each product generation. The results demonstrate the benefits realized by a firm that works with its manufacturing equipment suppliers to develop more efficient and flexible technology. In addition, we explore how opportunities afforded by pioneer advantage enable a firm operating a less efficient facility to realize long term competitive advantage by deploying an earlier market entry strategy.     

混杂SIFCON材料力学性能试验研究

ＳＩＦＣＯＮ 工艺是美国ＬＡＮＫＡＲＤ材料试验室发明的一种制作高含量钢纤维混凝土制品的方法。在基体中加入ＰＰ改性聚丙稀纤维,对混杂ＳＩＦＣＯＮ 工艺成型的高含量钢纤维混凝土进行了系列的材料力学性能试验研究。     

A rejoinder to "The impact of infectious diseases on remittances inflows to India"

We argue that the volume of remittances sent home by migrants is influenced by the exogenous likelihood that the duration of their migration will be cut short. A higher probability of reverse migration, brought about by the collapse of jobs in the wake of COVID-19, made migrants attach greater importance to the creation of a social and economic environment in their places of origin that can support them when they return. There are several ways in which this can be done. One is by instilling gratitude. When bigger remittances are responded to by greater gratitude, the support will be bigger. An impact of the COVID-19 pandemic on migrants’ perceived duration of their migration is an increase in the uncertainty of the duration. The good will of migrants’ families and communities at origin is a form of insurance. A standard response to uncertainty is to take out insurance, and when uncertainty is higher, insurance is more valuable, and there is a tendency to acquire more of it. As it happens, the link between the volume of remittances and the likelihood of return migration does not feature at all in Shastri’s (2022) paper, nor for that matter in related writings by the World Bank and the IMF. The purpose of this rejoinder is to draw attention to this link, inducing students of migrants’ remittances to explore the link.     

Electronic Markets for Truckload Transportation

A wide variety of electronic marketplace formats are used in the Truckload (TL) transportation industry, including combinatorial auctions, private and public exchanges, and electronic catalogs. Combinatorial multi‐attribute auctions are commonly used strategically to populate electronic catalogs, commonly called “routing guides,” with pricing, assignments, and priority logic. Private and public exchanges are used to complement the electronic catalogs in cases where the catalog fails. This paper discusses the TL transportation market, places the procurement of services in the context of electronic marketplace formats, and illustrates how these are currently used.     

Liquidity in Asset Markets With Search Frictions

We develop a search‐theoretic model of financial intermediation in an over‐the‐counter market and study how trading frictions affect the distribution of asset holdings and standard measures of liquidity. A distinctive feature of our theory is that it allows for unrestricted asset holdings, so market participants can accommodate trading frictions by adjusting their asset positions. We show that these individual responses of asset demands constitute a fundamental feature of illiquid markets: they are a key determinant of trade volume, bid–ask spreads, and trading delays—the dimensions of market liquidity that search‐based theories seek to explain.