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  • November 2015
  • Article

Cannibalization and Option Value Effects of Secondary Markets: Evidence from the U.S. Concert Industry

By: Victor Manuel Bennett, Robert Seamans and Feng Zhu
We examine how reducing search frictions in secondary markets affects the value appropriated by firms in primary markets. We characterize two effects on primary market firms caused by intermediaries entering secondary markets: the "cannibalization" and "option value"... View Details
Keywords: Cannibalization Effect; Option Value Effect; Secondary Markets; Concert Industry; Craigslist; Competition; Distribution Channels; Entertainment and Recreation Industry
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    Cannibalization and Option Value Effects of Secondary Markets: Evidence from the US Concert Industry

    We examine how reducing search frictions in secondary markets affects the value appropriated by firms in primary markets. We characterize two effects on primary-market firms caused by intermediaries entering secondary markets: the “cannibalization” and “option value”... View Details
    • Article

    Enfranchisement of Service Workers

    By: Leonard A. Schlesinger and James Heskett
    Enfranchisement is achieved through an integration of empowerment with methods of pay for performance. Evidence from Ito Yokado Group in Japan and Nordstrom in the US demonstrates the positive effects of enfranchisement. Successful efforts to enfranchise employees: 1.... View Details
    Keywords: Motivation and Incentives; Franchise Ownership; Employees; Compensation and Benefits; Service Industry; Japan; United States
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    • November 2023
    • Supplement

    'Care in Every Drop': Ayala Corporation and Manila Water (B)

    By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia Comeau
    Since 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of... View Details
    Keywords: Family Business; Economic Growth; Social Entrepreneurship; Climate Change; Natural Resources; Crisis Management; Failure; Privatization; Social Issues; Urban Development; Adaptation; Infrastructure; Utilities Industry; Philippines
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    • Teaching

    Overview

    By: John D. Macomber
    Teaching and research interests center around the matching of private and instituional capital into large public infrastructure and resilience projects that shape the future of cities and urban environments around the world. The world's population is increaslingly... View Details
    • Teaching Interest

    Cities, Structures, and Climate Shocks

    By: John D. Macomber

    This course is about building sustainable and resilient cities, future proofing real estate and infrastructure assets, and examining how businesses and investors find opportunities in climate adaptation.

    The world faces substantial challenges in the face of... View Details

    Keywords: Sustainability; Economic Development; Climate Finance; Migration; Climate Change; Adaptation; Urban Development; Real Estate Industry; Construction Industry; Energy Industry; Utilities Industry; Insurance Industry; Banking Industry
    • December 2009 (Revised May 2010)
    • Case

    Codevasf

    By: David E. Bell, Marcos Fava Neves, Luciano Thome e Castro and Natalie Kindred
    With many countries facing scarcity of freshwater and farmable land, Brazil decided to leverage its wealth of both resources to attract global agribusiness players to the historically poor Sao Francisco Valley (SFV) in the country's northeast. To do so, Brazil was... View Details
    Keywords: Agribusiness; Resource Allocation; Bids and Bidding; Infrastructure; Supply Chain; Business and Government Relations; Natural Environment; Agriculture and Agribusiness Industry; Brazil
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    • September 2014 (Revised September 2015)
    • Case

    Doing Business in Morocco

    By: Jill Avery, Tonia Junker and Daniela Beyersdorfer
    This case examines the challenges and opportunities of doing business in Morocco. It highlights Morocco's ongoing economic transformation in the decades leading up to 2014 in the context of its historical, political, and cultural background. The case summarizes some of... View Details
    Keywords: Emerging Market; Emerging Economies; Africa; Global Strategy; Operations Management; Development Economics; Geographic Scope; Globalization; Business History; Emerging Markets; Market Entry and Exit; Operations; Strategy; Auto Industry; Africa; Morocco
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    • 2020
    • Working Paper

    Capital Regulation and Product Market Outcomes

    By: Ishita Sen and David Humphry
    We present evidence of product market adjustments and asset reorganizations from the largest ever shift in risk regulation in a developed insurance market. Using proprietary data on insurance risk exposures from the Bank of England, we develop a measure of regulatory... View Details
    Keywords: Non-traditional-non-insurance; Risk Regulation; Product Market Concentration; Small Vs. Large Insurers; Insurance Risk Exposure; Insurance; Risk and Uncertainty; Governing Rules, Regulations, and Reforms
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    • 2022
    • Article

    Alleviating Time Poverty Among the Working Poor: A Pre-Registered Longitudinal Field Experiment

    By: A.V. Whillans and Colin West
    Poverty entails more than a scarcity of material resources—it also involves a shortage of time. To examine the causal benefits of reducing time poverty, we conducted a longitudinal feld experiment over six consecutive weeks in an urban slum in Kenya with a sample of... View Details
    Keywords: Time; Subjective Well Being; Administrative Costs; Friction; Poverty; Well-being; Money; Perception; Kenya
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    • Article

    How Market Power Affects Dynamic Pricing: Evidence from Inventory Fluctuations at Car Dealerships

    By: Ayelet Israeli, Fiona Scott-Morton, Jorge Silva-Risso and Florian Zettelmeyer
    This paper investigates empirically the effect of market power on dynamic pricing in the presence of inventories. Our setting is the auto retail industry; we analyze how automotive dealerships adjust prices to inventory levels under varying degrees of market power. We... View Details
    Keywords: Dynamic Pricing; Market Power; Pricing; Price Discrimination; Inventory Production; Marketing; Price; Competitive Strategy; Auto Industry; Retail Industry
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    • December 2022
    • Case

    Mission Produce in 2022

    By: Forest Reinhardt, Jose B. Alvarez and Natalie Kindred
    Founded by CEO Steve Barnard in 1983, California-based Mission Produce was a leading supplier of Hass avocados with a global sourcing, marketing, and distribution network and $892 million in 2021 sales. Barnard had been influential in the global avocado trade’s... View Details
    Keywords: Agriculture and Agribusiness Industry; Food and Beverage Industry; Retail Industry; Consumer Products Industry; United States; California; Peru; Guatemala; Colombia; Mexico; Chile
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    • 14 Aug 2008
    • Working Paper Summaries

    The Agglomeration of U.S. Ethnic Inventors

    Keywords: by William R. Kerr; Technology
    • 25 Jan 2022
    • Research & Ideas

    More Proof That Money Can Buy Happiness (or a Life with Less Stress)

    outlined in a forthcoming paper in the journal Social Psychological and Personality Science, The Sharp Spikes of Poverty: Financial Scarcity Is Related to Higher Levels of Distress Intensity in Daily Life. Higher income amounts to lower... View Details
    Keywords: by Michael Blanding
    • 2020
    • Working Paper

    EMEs and COVID-19: Shutting Down in a World of Informal and Tiny Firms

    By: Laura Alfaro, Oscar Becerra and Marcela Eslava
    Emerging economies are characterized by an extremely high prevalence of informality, small-firm employment and jobs not fit for working from home. These features factor into how the COVID-19 crisis has affected the economy. We develop a framework that, based on... View Details
    Keywords: COVID-19; Emerging Economies; Informality; Firm-size Distribution; Health Pandemics; Developing Countries and Economies; Economy; System Shocks; Latin America
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    • Teaching Interest

    Doing Business in Africa

    By: John D. Macomber

    This course introduces frameworks and models for smart and focused investing and operations across sectors, nations, industries, and time frames in Africa.   Students will learn tools and skills to help navigate the business landscape of Africa in terms of selection... View Details

    Keywords: Africa
    • 11 Apr 2024
    • In Practice

    Why Progress on Immigration Might Soften Labor Pains

    high-skilled immigration. The first scenario will harm US firms by reducing the supply of workers in a tight market. The impact will be worse in sectors that are growing faster and where immigrants’ skills are more important, such as the semiconductor industry. The... View Details
    Keywords: by Rachel Layne
    • 01 May 2013
    • What Do You Think?

    Why Isn’t ‘Servant Leadership’ More Prevalent?

    Servant leadership is experienced so rarely because of trends in the leadership environment, the scarcity of human qualities required, demands that the practice places on the practitioner, and the very nature of the practice itself. As... View Details
    Keywords: by Jim Heskett
    • 08 Mar 2021
    • In Practice

    COVID Killed the Traditional Workplace. What Should Companies Do Now?

    A year ago, COVID-19 forced many companies to send employees home—often with a laptop and a prayer. Now, with COVID cases subsiding and vaccinations rising, the prospect of returning to old office routines appears more possible. But will employees want to flock back to... View Details
    Keywords: by Dina Gerdeman
    • 09 Apr 2018
    • Sharpening Your Skills

    The Dark Side of Performance Bonuses

    salaries? Researchers present evidence that workers dislike inequality in equity compensation more than salary compensation because of the perceived scarcity of equity. Subjectivity in Tournaments: Implicit Rewards and Penalties and... View Details
    Keywords: by Sean Silverthorne