Joint Ordering and Pricing Strategies for Managing Substitutable Products

Starr and Rubinson (1978) develop a model to establish the relationship between product demand and relative prices. The notion of relative prices motivates us to consider a situation in which a retailer would either charge the same retail price for all products if he adopts a ‘fixed’ pricing strategy or charge different prices for different products if he adopts a ‘variable’ pricing strategy. In this paper, we develop a base model with deterministic demand that is intended to examine how a retailer should jointly determine the order quantity and the retail price of two substitutable products under the fixed and variable pricing strategies. Our analysis indicates that the optimal retail price under the variable pricing strategy is equal to the optimal retail price under the fixed pricing strategy plus or minus an adjustment term. This adjustment term depends on product substitutability and price sensitivity. We also present two different extensions of our base model. In the first extension, our analysis indicates that the underlying structure of the optimal retail price and order quantity is preserved when there is a limit on the total order quantity. The second extension deals with the issue of retail competition. Relative to the base case, we show that the underlying structure of the optimal retail price and order quantity is preserved in a duopolistic environment. Moreover, our analysis suggests that both retailers would adopt the variable pricing strategy at the equilibrium.     

Linking Process Quality and Resource Usage: An Empirical Analysis

Motivated by an increasing adoption of evidence‐based medical guidelines in the delivery of medical care, we examine whether increased adherence to such guidelines (typically referred to as higher process quality) is associated with reduced resource usage in the course of patient treatment. In this study, we develop a sample of US hospitals and use cardiac care as our context to empirically examine our questions. To measure a patient's resource usage, we use the total length of stay, which includes any additional inpatient stay necessitated by unplanned readmissions within thirty days after initial hospitalization. We find evidence that higher process quality, and more specifically its clinical (as opposed to its administrative) dimensions, are associated with a reduction in resource usage. Moreover, the standardization of care that is achieved via the implementation of medical guidelines, makes this effect more pronounced in less focused environments: higher process quality is more beneficial when the cardiac department's patient population is distributed across a wider range of medical conditions. We explore the implications of these findings for process‐oriented pay‐for‐performance programs, which tie the reimbursement of hospitals to their adherence to evidence‐based medical guidelines.     

The Determinants of Management Development: The Views of MBA Graduates

This article is derived from survey data obtained from a structured sample of 450 MBA graduates and is part of a wider programme of research investigating the current state of management development in Britain. The intention is to analyse the determinants of the amount, the methods and the impact of management development systems in UK organizations and to assess these findings in relation to a comparable analysis of HRD managers. Both the amount and the variety of management development methods are greater than has been previously reported and, for the HRD sample, the impact of this activity is broadly positive. While agreeing on the amount, MBA managers are less enthusiastic about the availability and effectiveness of management development they have experienced. Overall, the management development policy choices made by organizations are consistently the most influential in determining outcomes, and the implications for this are discussed.     

The competitive advantage: strategic thinking for physician leaders

Physician executives should manage their career strategies like a well-run company. Learn how to start thinking aout your career strategy.     

Relation of Goal Setting and Goal Sharing to Performance and Conflict for Interdependent Tasks

Despite the prevalence of goal setting in organizations, researchers have not thoroughly examined the implications of goal setting to work outcomes in interdependent work settings. A field survey (n= 442) assessed the relation of goal setting and goal sharing, the extent to which others are aware of an individual's work goal, to performance and conflict across varying levels of task interdependence. The results of moderated regression analyses demonstrate that in highly interdependent tasks, the use of goal setting resulted in lower performance levels. Moreover, goal setting and goal sharing in highly interdependent tasks resulted in individuals' reporting more somatic symptoms. The results are discussed in terms of clarifying the role of goal setting for interdependent tasks.     

The Implications of Learning Styles for Training and Development: A Discussion of the Matching Hypothesis

This review paper examines the effect of matching and mismatching learning style and learning activity and matching and mismatching trainer and trainee learning style on learning achievement. It also explores the possibility of creating a match by promoting learner adaptability or modifying the trainer's training style. The implications of this discussion for training and development are considered.     

The Role of Effort in Shifting Preference for Feedback Stimuli

ABSTRACT

Researchers have examined preference for the format of delivery of feedback, however little research has examined strategies to increase feedback and praise desirability. The current study aimed to evaluate whether preference shifted for stimuli that signaled work and for manager-praise stimuli that were delivered after work. Moreover, we sought to understand if these preference shifts were greater when the work was higher-effort compared to lower-effort work tasks (a phenomenon described in the basic literature as within-trial contrast). The study took place in a simulated work environment. Sixteen university students clicked on a shape that produced the work task, completed a mock medical data-entry task, and received manager-praise on an FR1 and FR20 schedule. At the start of the study and following each contingency exposure trials, they completed a preference assessment for both the shapes and the manager-feedback stimuli. The primary dependent variable was the percentage of preference change for two categories of stimuli – shapes presented at the beginning of trials that signaled which condition participants were in and manager-praise stimuli presented at the end of trials. Preference for the shape stimuli for both high- and low-effort stimuli decreased indicating that stimuli that signal work may become less preferred. Preference for the manager-praise stimuli for both high- and low-effort stimuli increased suggesting that stimuli that follow work may become more preferred. Overall, these data suggest that the conditions under which managers deliver feedback and praise may influence preference for those stimuli.     

Neighborhood context and racial differences in early adolescent sexual activity

Evidence suggests that African American youths initiate sexual activity at earlier ages than do European American or Latino youths. Using data from a multilevel study in Chicago, we developed and tested a neighborhood-based model of the timing of first adolescent intercourse that emphasizes the impact of neighborhood structural disadvantage and collective efficacy on early sexual activity (at ages 11 to 16). In turn, we explored the extent to which neighborhood factors account for racial differences in the timing of first intercourse. The findings indicate that demographic background, family processes, peer influences, and developmental risk factors account for about 30% of the baseline increased likelihood of early sexual onset for African American youths compared with European American youths. However, a significant residual racial difference remained even after we considered a host of micro-level factors. Neighborhood-level concentrated poverty largely explained this residual racial difference. Collective efficacy also independently contributed to the delay of sexual onset. No significant baseline difference in age of sexual initiation was found between Latino and European American youths.     

Effects of information on college students' perceptions of antidepressant medication

The authors examined the impact of pharmaceutical companies' advertisements on college students' perceptions of depression and concomitant treatment with antidepressants among 13 male and 31 female undergraduates from a midwestern university. The students were randomly assigned to groups that read either pharmaceutical company advertisements or scientific information about depression and its treatment. The analysis revealed that 40% of the women in the advertisement condition as opposed to 1 woman (6%) in the scientific condition rated themselves as having mild, moderate, or severe depression on the Beck Depression Inventory, second edition. Women in the advertisement condition were significantly more likely to believe that depression required treatment with antidepressant medication and were more willing than women in the scientific condition to suggest antidepressant treatment to others.