Titles, abstracts and documents :<\/strong><\/p>\n Abstract :\u00a0<\/strong>How should a firm modify its product assortment over time when learning about consumer tastes? In this paper, we study dynamic assortment decisions in a horizontally differentiated product category for which consumers\u2019 diverse tastes can be represented as locations on a Hotelling line. We presume that the firm knows all possible consumer locations, comprising a finite set, but does not know their probability distribution. We model this problem as a discrete time dynamic program; each period, the firm chooses an assortment and sets prices to maximize the total expected profit over a finite horizon, given its subjective beliefs over consumer tastes. The consumers then choose a product from the assortment that maximizes their own utility. The firm observes sales, which provide censored information on consumer tastes, and updates beliefs in a Bayesian fashion. There is a recurring tradeoff between the immediate profits from sales in the current period (exploitation) and the informational gains to be exploited in all future periods (exploration). We show that one can (partially) order assortments based on their information content and that in any given period the optimal assortment cannot be less informative than the myopically optimal assortment. This result is akin to the well-known \u2018stock more\u2019 result in censored newsvendor problems with the newsvendor learning about demand through sales when lost sales are not observable. We demonstrate that it can be optimal for the firm to alternate between exploration and exploitation, and even offer assortments that lead to losses in the current period in order to gain information on consumer tastes. We also develop a Bayesian conjugate model that reduces the state space of the dynamic program and study value of learning using this conjugate model.<\/p><\/blockquote>\n<\/li>\n Abstract :\u00a0<\/strong>This article introduces a composite model of organizational change that moves toward corporate social responsibility (CSR), built on a combination of ideal-type theories of change and an existing conceptualization of CSR cultural phases. The result is a quad-motor theory of CSR development in which life cycle, teleological, dialectical, and evolutionary motors of change operate interdependently, depending on the unit of change considered and the level of integration of CSR principles into the company\u2019s culture. This conceptual study supports more comprehensive accounts of the dynamic processes of organizational change toward CSR; it also helps bridge the gap between emerging research into what prompts corporate engagement in CSR and the actual design and implementation of CSR initiatives. Overall, this study offers both a relevant framework for assessing prior research and a structured blueprint to drive ongoing research efforts.<\/p><\/blockquote>\n<\/li>\n Abstract :\u00a0<\/strong>Market liberalization may not result in global pricing or full market integration if implicit barriers are important. We test this proposition for 22 emerging markets using the conditional version of Errunza and Losq (1985) model. We estimate and compare the degree of integration for stocks that are eligible for purchase by foreigners (investible) and those that are not (non-investible). Our results show that local factors are priced for both segments and the implicit barriers are significantly associated with the integration measure. Specifically, better institutions, stronger corporate governance and more transparent markets would jointly contribute to a higher degree of integration by about 15-20 percent.<\/p><\/blockquote>\n<\/li>\n Abstract :\u00a0<\/strong>Financial series occasionally exhibit large changes. Assuming that the observed return series consist of a standard normal ARMA-GARCH component plus an additive jump component, we propose a new test for additive jumps in an ARMA-GARCH context. The test is based on standardised returns, where the first two conditional moments are estimated in a robust way. Simulation results indicate that the test has very good finite sample properties, i.e. correct size and much higher proportion of correct jump detection than Franses and Ghijsels\u2019s (1999) test. We apply our test on the YEU-USD exchange rate and find twice as much jumps as Franses and Ghijsels\u2019s (1999) test.<\/p><\/blockquote>\n<\/li>\n Abstract :\u00a0<\/strong>On s\u2019int\u00e9resse au probl\u00e8me de la gestion des activit\u00e9s d\u2019escales sur une plateforme a\u00e9roportuaire. Les op\u00e9rations d\u2019escale sont r\u00e9alis\u00e9es par diff\u00e9rents prestataires de services, \u00e0 l\u2019aide de v\u00e9hicules propres \u00e0 chaque type d\u2019op\u00e9ration. Ces diff\u00e9rents intervenants doivent se coordonner de fa\u00e7on \u00e0 r\u00e9aliser les escales de chaque avion dans le temps imparti, tout en respectant les contraintes d\u2019ordonnancement des t\u00e2ches pour chaque avion et les contraintes li\u00e9es \u00e0 l\u2019utilisation des v\u00e9hicules de service. Or, on constate qu\u2019une part importante des retards des vols est g\u00e9n\u00e9r\u00e9e pendant l\u2019escale des avions \u00e0 leur poste de stationnement, il est donc int\u00e9ressant d\u2019\u00e9tudier ce probl\u00e8me pour tenter de trouver des strat\u00e9gies permettant de minimiser ces retards. Le probl\u00e8me d\u2019optimisation combinatoire sous-jacent est un probl\u00e8me hybride d\u2019ordonnancement de t\u00e2ches et de tourn\u00e9e de v\u00e9hicule qui, \u00e0 notre connaissance, est tr\u00e8s peu \u00e9tudi\u00e9 dans la litt\u00e9rature. On propose un mod\u00e8le math\u00e9matique puis on explore diff\u00e9rentes pistes de r\u00e9solution en s’appuyant sur une \u00e9tude comparative de notre probl\u00e8me avec des probl\u00e8mes acad\u00e9miques. Nous discuterons \u00e9galement du probl\u00e8me de la g\u00e9n\u00e9ration de jeux de donn\u00e9es pertinents, n\u00e9cessaires pour pouvoir \u00e9valuer les m\u00e9thodes de r\u00e9solution envisag\u00e9es.<\/p><\/blockquote>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":" Research Seminar 2011-2012 Titles, abstracts and documents : May 2012, Friday 11:\u00a0Learning Consumer Tastes through Dynamic Assortments, by Pr. Doroth\u00e9e Honhon (TU\/e Technische Universiteit Eindhoven) (N1, room 115, 3:00pm-4:00pm) Abstract :\u00a0How should a firm modify its product assortment over time<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":21,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-76","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/pages\/76"}],"collection":[{"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":1,"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/pages\/76\/revisions"}],"predecessor-version":[{"id":77,"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/pages\/76\/revisions\/77"}],"up":[{"embeddable":true,"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/pages\/21"}],"wp:attachment":[{"href":"http:\/\/seminar.hec.ulg.ac.be\/index.php\/wp-json\/wp\/v2\/media?parent=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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