MIT Sloan School of Management Working Paper Series最新文献

{"title":"On the Non-Optimality of Supposedly 'Optimal' Monetary Policy","authors":"Athanasios Orphanides","doi":"10.2139/ssrn.2638530","DOIUrl":"https://doi.org/10.2139/ssrn.2638530","url":null,"abstract":"A burgeoning part of the monetary policy design literature posits that optimal monetary policy is the solution to a constrained optimization problem where the monetary authority has the discretion to minimize a social welfare function, taking the economy and other policies as given. Davig and Gurkaynak (2014) argue convincingly that the solution thus attained may fail to deliver the desired outcome. This note further argues that optimal outcomes are infeasible in an environment where policy discretion is encouraged and the central bank is assigned multiple conflicting objectives. In a democracy, no unelected and unaccountable policymaker should be or act as the residual claimant of all policy. Narrow mandates and rules are needed to protect society from harmful discretion. The Inflation Targeting framework and recent policy challenges faced by the Federal Reserve and the ECB are discussed in this context.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130689012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Comparative Analysis of Mother & Amul Dairy Products","authors":"S. Shukla","doi":"10.2139/SSRN.2563552","DOIUrl":"https://doi.org/10.2139/SSRN.2563552","url":null,"abstract":"The objective of the paper is to do a Comparative Analysis of Mother & Amul Dairy Products. The paper contains a brief introduction of Mother dairy limited & GCMMF limited and its various products. This paper clearly mentions objectives of study and research methodology utilized. The sources of information are both of primary data and secondary data. The data collection method used is structured non disguised questionnaire in which the types of questions used are open ended, Multiple choice etc.The paper contains a detailed view of the tasks, which have been undertaken to analyze the market of Mother & Amul dairy products. Various set of questionnaire have been prepared to know perceptions of retailers and customers about dairy products.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129286050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategic Partnering in Oil and Gas: A Capabilities Perspective","authors":"Rodrigo Garcia Palma, D. Lessard, Aditya Singh","doi":"10.2139/ssrn.2456718","DOIUrl":"https://doi.org/10.2139/ssrn.2456718","url":null,"abstract":"A firm’s strategy typically is defined in terms of its position in the industry or landscape that operates in and the competitive advantage of the firm on that landscape. This competitive advantage, in turn, derives from a combination of assets (what the firm owns) and capabilities (how the firm does what it does). While the image of the oil and gas industry is that it is all about assets, competitive advantage generally results from a combination of tangible assets, capabilities, and intangible assets such as reputation and intellectual property (IP). The types of capabilities that are most likely to set one firm apart from others in a highly competitive field like oil and gas are complex bundles of complementary capabilities that are required to solve key challenges and that are hard to develop and emulate, particularly when the challenges are new and require new bundles of capabilities. Thus, the differentiating capabilities may be integrative, dynamic, or both. This paper identifies a set of integrative dynamic capabilities that are emerging as differentiators in the oil and gas industry and discusses what these imply for partnering at the company and asset levels.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134112525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Predictive Probability Distributions for Petroleum Unit Resource Projections via Hierarchical Modeling","authors":"G. Kaufman, R. Faith, J. Schuenemeyer","doi":"10.2139/ssrn.2196566","DOIUrl":"https://doi.org/10.2139/ssrn.2196566","url":null,"abstract":"Combining judgmental assessments using a classical probabilistic hierarchical model helps insure logical coherence of probability assessments by geologists of petroleum volumes in multiple, probabilistically dependent assessment units and allows easy study of how the predictive distribution of total hydrates in all units varies with variation in degrees of between and within unit dependencies.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115213233","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"User Generated Brands and their Contribution to the Diffusion of User Innovations","authors":"J. Füller, Roland Schroll, E. von Hippel","doi":"10.2139/ssrn.1756941","DOIUrl":"https://doi.org/10.2139/ssrn.1756941","url":null,"abstract":"It has been argued that users can create innovations and also diffuse them peer-to-peer independent of support or involvement by producers: that “user-only” innovation systems can exist. It is known that users can be incented to innovate via benefits from in-house use. But users’ incentives to invest in diffusion are much less clear: benefits that others might obtain from their innovation can be largely or entirely an externality for user innovators. Of course, effective distribution of information products can be done near-costlessly via posting downloadable content – for example, software – on the Internet. However, potential adopters must still learn about the product and trust its qualities. In producer systems, this aspect of diffusion is heavily supported via the creation of trusted brands. It has been shown that brands help to increase awareness, to communicate a product’s benefits, and to reduce perceived risks of adoption. The development of brands by producers is traditionally seen as a very costly exercise – unlikely to be thought of as worthwhile by users who expect little or no benefits from the diffusion of their innovations to others. In this paper, we explore the creation of a strong and trusted brand by the Apache software community – and find it was created costlessly, as a side effect of normal community functioning. We think the costless creation of strong brands is an option that is generally available to user innovation communities. It supports, we propose, the existence of robust, user-only innovation systems by helping to solve the problem of low-cost diffusion of trusted user-developed innovations.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"263 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116037597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Multilateral Virtual Currency Model","authors":"I. Gikhman","doi":"10.2139/ssrn.2139554","DOIUrl":"https://doi.org/10.2139/ssrn.2139554","url":null,"abstract":"This project represents a basic design of a multilateral FX market that synthetically connected to the modern bilateral FX market. The essence of the multilateral FX market is an introduction of the single rates generating by the multilateral FX structures. These single rates are single currency representations of the multicurrency structures. A synthetically constructed rate can provide the unique rate representation for each of the multilateral components of the structure.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129369461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Consumer Inattention and Bill-Shock Regulation","authors":"Michael Grubb","doi":"10.2139/ssrn.1983518","DOIUrl":"https://doi.org/10.2139/ssrn.1983518","url":null,"abstract":"For many goods and services, such as cellular-phone service and debit-card transactions, the price of the next unit of service depends on past usage. As a result, consumers who are inattentive to their past usage but are aware of contract terms may remain uncertain about the price of the next unit. I develop a model of inattentive consumption, derive equilibrium pricing when consumers are inattentive, and evaluate bill-shock regulation requiring firms to disclose information that substitutes for attention. When inattentive consumers are heterogeneous and unbiased, bill-shock regulation reduces social welfare in fairly-competitive markets, which may be the effect of the FCC's recent bill-shock agreement. If inattentive consumers underestimate their demand, however, then bill-shock regulation can lower market prices and protect consumers from exploitation. Hence the Federal Reserve's new opt-in rule for debit-card overdraft protection may substantially benefit consumers.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115069263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Causal Status of Social Capital in Labor Markets","authors":"R. Fernandez, R. Galperin","doi":"10.2139/ssrn.2067096","DOIUrl":"https://doi.org/10.2139/ssrn.2067096","url":null,"abstract":"There is a rich tradition of research on how social capital operates in the labor market. Much of this research adopts a supply-side perspective, and examines how network factors influence job seekers’ success in the labor market. Recent research by Mouw (2003, 2006), however, has called into question whether the observed effects of social capital are causal in nature, or are spuriously due to the influence of social homophily between job seekers and their network ties. What has been missing in this discussion is the demand-side perspective of organizations that hire job-seekers. This essay considers the causal status of social capital from the organization’s perspective. While the organizational approach we discuss here offers its own challenges to causal inference, they are not the same ones confronting supply-side approaches. Far from being a feature which confounds causal inference, we argue that social homophily is instead a key mechanism by which organizations derive social capital. Seen through this lens, homophily is a tool that organizations can use to derive value. We develop an approach which can be used to bolster inferences about the causal status of social capital. We illustrate these ideas using data from a retail bank.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114814432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"India Budget – 2012: One Step Forward and Two Steps Back","authors":"Dr. Sisira Kanti Mishra","doi":"10.2139/ssrn.2035682","DOIUrl":"https://doi.org/10.2139/ssrn.2035682","url":null,"abstract":"India is home to 1.21 billion people, which is about 17.4% of the global population. However, it accounts for only 2.4 % of the world GDP in US dollar terms and 5.5 % in purchasing power parity (PPP) terms. Hence there exists a huge potential for catch up. This is evident from the fact that it took 40 long years from 1950-51 for India’s real per capita GDP to double by 1990-91. But 1990-91 was a defining moment in India’s modern economic history as a severe balance of payments (BoP) crisis prompted far-reaching economic reforms, unlocking its potential growth. As a result, in only 15 years, India’s per capita income doubled again by 2006-07. If the current pace of growth is maintained, India’s per capita income could further double by 2017-18 in next five years. While acceleration in India’s recent economic growth is noteworthy, maintaining the pace, no doubt, will be challenging.India’s economy is big and getting bigger. Liberalisation of government regulations and a deliberate strategy on the part of the Indian Government to promote infrastructure spells opportunity for impressive economic development in India. Nearly all of the infrastructure sectors present excellent opportunities, with roads and highways, ports and airports, railways and power standing out as particular bright spots. The Indian economy is booming, with rates of Gross Domestic Product (GDP) growth exceeding 8% every year since 2003-04. This ongoing growth is due to rapidly developing services and manufacturing sectors, increasing consumer demand (largely driven by increased spending by India’s middle class) and government commitments to rejuvenate the agricultural sector and improve the economic conditions of India’s rural population. The preamble of our constitution starts with saying WE….THE PEOPLE, who are always under the mercy of the political leaders and bureaucrats, so-called “Kalyug ke Bhagban (God of Modern Age)”. They really decide our lifestyle and lifespan. Their every word becomes a new modern veda for WE…THE PEOPLE. So, here Budget is a part of that. I would like to begin by laying out a simple framework, which would be able for to give justice to my delivery on the discussion on budget 2012. My discussion today is all about to outline (i) some important highlights of budget speech, (ii) tax slabs for WE….THE salaries PEOPLE, (iii) Budgetary allocation to some key sectors of the economy, and Followed by (iv) Budget impact to India Inc., Capital Market, Economy.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133947947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Gender Sorting and the Glass Ceiling in High Tech","authors":"R. Fernandez, Santiago Campero","doi":"10.2139/ssrn.2067102","DOIUrl":"https://doi.org/10.2139/ssrn.2067102","url":null,"abstract":"Past studies of gender and hierarchy document that the proportion of women declines as one looks up levels of the organizational hierarchy. With few exceptions, studies have conceived of the glass ceiling as reflecting disparities in internal promotion. Recent research has questioned this exclusive focus on internal processes, demonstrating that glass ceiling patterns can also be the result of external recruitment. Using data on people applying via the Internet to jobs at a medium sized high tech firm, we examine the external supply of candidates at the point of application to the firm. We find a “glass ceiling” pattern where the proportion of female applicants in the candidate pool declines as one looks up the four levels of the organization’s hierarchy. Females tend to apply to lower level jobs than do males, and part of this difference explained by observed human capital factors of education, work, and management experience. Networks also contribute to this gendered pattern of job application, with male network referrals applying to higher level jobs than do female network referrals. However, networks do not account for the pattern: even among non-referred applicants, females apply to lower level jobs than do males. In addition to these gender differences at the point of application, we find evidence that demand-side screening processes contribute to the glass ceiling pattern: females are less likely than males to be offered jobs as one looks up levels of the firm’s hierarchy. These results suggest that it should not be assumed that the “glass ceiling” is the result of internal promotion processes: the same pattern can be produced by supply-side or demand-side processes operating in the hiring of externals.","PeriodicalId":239656,"journal":{"name":"MIT Sloan School of Management Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126143395","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}