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849 items in total found

Journal Articles | 2023

A framework for fair decision-making over time with time-invariant utilities

Andrea Lodi, Sriram Sankaranarayanan, Guanyi Wang

Fairness is a major concern in contemporary decision problems. In these situations, the objective is to maximize fairness while preserving the efficacy of the underlying decision-making problem. This paper examines repeated decisions on problems involving multiple stakeholders and a central decision maker. Repetition of the decision-making provides additional opportunities to promote fairness while increasing the complexity from symmetry to finding solutions. This paper presents a general mathematical programming framework for the proposed fairness-over-time (FOT) decision-making problem. The framework includes a natural abstraction of how a stakeholder’s acquired utilities can be aggregated over time. In contrast with a natural, descriptive formulation, we demonstrate that if the aggregation function possesses certain basic properties, a strong reformulation can be written to remove symmetry from the problem, making it amenable to branch-and-cut solvers. Finally, we propose a particular relaxation of this reformulation that can assist in the construction of high-quality approximate solutions to the original problem and can be solved using simultaneous row and column generation techniques.

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Journal Articles | 2023

The impact of consumer expectations and familiarity on deceptive pricing in advertising: A view from drip pricing practice

Somak Banerjee, Sujay Dutta, Abhijit Biswas, Hyokjin Kwak

Drip pricing practice, which involves promoting a seemingly low initial price and then introducing add-on price components without upfront disclosures, is commonly seen as a deceptive advertising practice that can lead to negative associations. Here, we provide an alternative perspective by investigating that whether consumers form positive or negative opinions about drip pricing depends on their expectation of encountering it and their overall familiarity with this practice. That is, this research reveals that when consumers’ general familiarity with drip pricing is low, higher expectations of drip pricing create greater perceptions of price fairness and purchase intentions. Moreover, our findings indicate that higher consumer expectations of drip pricing lead to positive attributions and evaluations of the detailed pricing information, resulting in higher perceptions of price fairness, which, in turn, increases purchase intentions. Further, we show that when consumers have high expectations of encountering drip pricing, they evaluate ­pricing information more positively and deception less harshly, resulting in greater purchase intentions than when they do not expect it.

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Journal Articles | 2023

Understanding the relationship between reviews, search and sales: A study of the Indian car market

Madhuri Prabhala, Indranil Bose

While there has been extensive research on understanding the effects of online reviews on product sales, there is not enough investigation of the inter-relationships between online reviews, online search and product sales. The study attempts to address this gap in the context of the Indian car market.

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Journal Articles | 2023

A role that takes its toll? The moderating role of leadership in role stress and exposure to workplace bullying

Piotr Stapinski, Brita Bjørkelo, Premilla D’Cruz, Eva G. Mikkelsen, Malgorzata Gamian-Wilk

The purpose of the article is to provide further evidence for the work environment hypothesis. According to the work environment hypothesis and as documented by empirical evidence, organizational factors play a crucial role in the development of workplace bullying. However, to better understand and prevent bullying at work and establish sustainable, responsible and ethical workplaces, it is crucial to understand which organizational factors are particularly important in the development of bullying and how these factors, independently and combined, act as precursors to bullying over time. One prominent theory that explains how organizational and individual factors interact is the affective events theory (AET).

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Journal Articles | 2023

How data-driven decisions help restaurants stay competitive

Debjit Roy, Eirini Spiliotopoulou, and Jelle de Vries

Today data is an increasingly important part of how restaurants create value, both on the demand side (how consumers choose a place to eat, make a reservation, give their order, and pay their bill) and the supply side (detailed preparation and food resource-management records that enable restaurants to optimize inventory and reduce waste). To remain competitive, restaurants need to change the way they approach business decisions; they need to shift focus from food cost to revenue management and exploit opportunities for scaling up. Based on their research, the authors offer six strategies to guide strategic and operational decisions.

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Journal Articles | 2023

Consumer preference for nutrition front-of-pack-label formats in India: Evidence from a large-scale experimental survey

Ranjan Kumar Ghosh, Rahul Sanghvi, Arvind Sahay

Global policy discourse emphasizes placing front-of-pack nutrition labels (FOPLs) on packaged foods, but debates continue to rage on the appropriate format. There are two key types of label formats, summary and informative. In developing countries, with mixed to low levels of education, it is advised that FOPLs need to be easily identifiable, understandable, and can influence purchase decisions. In this context, we tested the suitability of five FOPL formats in India through a randomized experimental design survey. Respondents were allocated to different groups representing the FOPLs and controls. A 15-treatment and 1 control cell between-subjects design was used for the study. Surveys were conducted on the field through face-to-face interactions with a total of 20,564 participants from all over India across regions, genders, age groups, and education levels. The results, which were validated using sub-sample tests, suggest that summary formats of Health Star Ratings and Warning Labels ranked higher on ease of identification and understanding and were also able to influence purchase intentions as compared to informative labels such as Multiple Traffic Lights, monochrome Guideline Daily Amounts, and Nutriscore. Our analysis reveals that summary FOPLs are more useful in influencing healthier food choices as compared to informative FOPL formats. The study's insights can help regulators design a policy that empowers consumers and nudges food brands toward healthier product reformulations.

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Journal Articles | 2023

Consumer preference for nutrition front-of-pack-label formats in India: Evidence from a large-scale experimental survey

Ranjan Kumar Ghosh, Rahul Sanghvi, Arvind Sahay

Global policy discourse emphasizes placing front-of-pack nutrition labels (FOPLs) on packaged foods, but debates continue to rage on the appropriate format. There are two key types of label formats, summary and informative. In developing countries, with mixed to low levels of education, it is advised that FOPLs need to be easily identifiable, understandable, and can influence purchase decisions. In this context, we tested the suitability of five FOPL formats in India through a randomized experimental design survey. Respondents were allocated to different groups representing the FOPLs and controls. A 15-treatment and 1 control cell between-subjects design was used for the study. Surveys were conducted on the field through face-to-face interactions with a total of 20,564 participants from all over India across regions, genders, age groups, and education levels. The results, which were validated using sub-sample tests, suggest that summary formats of Health Star Ratings and Warning Labels ranked higher on ease of identification and understanding and were also able to influence purchase intentions as compared to informative labels such as Multiple Traffic Lights, monochrome Guideline Daily Amounts, and Nutriscore. Our analysis reveals that summary FOPLs are more useful in influencing healthier food choices as compared to informative FOPL formats. The study's insights can help regulators design a policy that empowers consumers and nudges food brands toward healthier product reformulations.

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Journal Articles | 2023

Assessing policy options for sustainable water use in India's cereal production system

Vartika Singh, Miodrag Stevanović, Chandan Kumar Jha, Felicitas Beier, Ranjan Kumar Ghosh, Hermann Lotze-Campen, Alexander Popp

In India, the production of rice and wheat account for more than 80% of its total agricultural water use. As farming is highly dependent on water availability, rapidly receding water levels require urgent measures to manage withdrawals. We assess policy instruments that can reduce pressures on water resources, while at the same time limiting adverse impacts on water-intensive cereal production systems, land-use changes and economic welfare. To this end, we use a dynamic and integrated partial equilibrium model of agricultural production and its impact on the environment to reflect two options: an increase in energy costs for irrigation water (price-related effects), and alternatively, physical quotas on water withdrawals (quantity-related effects). We conclude that it is possible to increase energy prices for agriculture with minimal impacts on agricultural production, agricultural prices, and trade in cereal crops, and moderately reduce water withdrawals by 2050. We find that the intermediate effects of pricing policies are negative for all indicators as compared to quota policies. However, by 2050, both policies yield similar outcomes for all indicators. Our results offer insights into ways in which these policies drive different mechanisms and trade-offs on important agro-economic indicators, and they offer the choice for water conservation policy decision-making based on other critical factors such as implementation costs.

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Journal Articles | 2023

High-frequency traders’ evolving role as market makers

Anirban Banerjee, Prince Roy

The current academic literature on HFTs considers them as the present-day de facto market makers. We show that HFT trading strategies have moved away from passive market-making over time. We explore the role of regulatory hurdles in this regard and find that penalties on high OTR (order-to-trade ratio) negatively affect HFT market-making and result in HFTs participating in trades as liquidity takers rather than liquidity providers. HFT passive market making is positively associated with the OTR. We also observe reduced profitability of HFT market-making strategies over time.

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Journal Articles | 2023

An overarching conceptual framework for ICT-enabled responsive governance

Amit Anand Tiwari, Samrat Gupta, Efpraxia D. Zamani, Neeraj Mittal, Renu Agarwal

Over the recent years, responsiveness has gained importance as it is a critical element of public governance processes and acts as a driving factor for supporting the achievement of governance objectives, especially in the implementation phases. In this study, we identify the knowledge gaps in the realm of responsive governance based on a systematic literature review. Based on our analysis, we propose a conceptual framework of major building blocks (input, process and outcomes) for the development and implementation of responsive governance at the local, regional and national levels of administrative hierarchy.

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