{"title":"Service Industrialization, Employment and Wages in the US Information Economy","authors":"H. Nath, Uday M. Apte, U. Karmarkar","doi":"10.1561/0200000050","DOIUrl":"https://doi.org/10.1561/0200000050","url":null,"abstract":"","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"31 1","pages":"250-343"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78050401","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":"Quadratic Hedging and Optimization of Option Exercise Policies","authors":"N. Secomandi","doi":"10.1561/0200000102","DOIUrl":"https://doi.org/10.1561/0200000102","url":null,"abstract":"Quadratic hedging of option payoffs generates the variance optimal martingale measure. When an option features an exercise policy and its cash flows are hedged according to this approach, it may be tempting to optimize such a policy under this measure. Because the variance optimal martingale measure may not be an equivalent probability measure, focusing on American options we show that the resulting exercise policy may be unappealing. This drawback can sometimes be remedied by imposing time consistency on exercise policies, but in general persists even in this case, which compounds the familiar issue that valuing an option using this measure may not result in an arbitrage free value. An alternative and known approach bypasses both of these pitfalls by optimizing option exercise policies under any given equivalent martingale measure and anchoring quadratic hedging to the resulting value of this policy. Additional research may assess on realistic applications the magnitude of the limitations associated with optimizing option exercise policies based on the variance optimal martingale measure.","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"44 2 1","pages":"204-224"},"PeriodicalIF":0.0,"publicationDate":"2020-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85452206","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":"Worker Productivity in Operations Management","authors":"D. Kc","doi":"10.1561/0200000095","DOIUrl":"https://doi.org/10.1561/0200000095","url":null,"abstract":"From Frederick Taylor’s study of brick laying manual laborers in the early 20th century, to the multi-year benchmarking of automotive plant productivity as part of the International Motor Vehicle Program, the systematic observation, measurement, and analysis of work has a strong tradition in operations management. Traditional manufacturing provided the setting for much of the early research on worker productivity. However, as we have now seen an inexorable shift towards more service driven economic output, especially in the industrialized economies, the research in operations management on worker productivity has also increasingly focused on services. This monograph will take stock of the literature in operations management on worker productivity. The research is not exhaustive but is meant to showcase some of the interesting and relevant papers that fall into a few key themes. Mainly, the individual worker is the focal unit of analysis, and the goal is to explore the various operational factors that allow the worker to become more productive. Key areas of emphasis include the behavioral microfoundations of productivity, the effect of peers and workplace dynamics, the design and organization of work, and ways to improve human capital. Although much is known about the drivers of D. KC (2020), “Worker Productivity in Operations Management”, Foundations and Trends® in Technology, Information and Operations Management: Vol. 13, No. 3, pp 151–249. DOI: 10.1561/0200000095. Full text available at: http://dx.doi.org/10.1561/0200000095","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"54 1","pages":"151-249"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89090927","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":"Cultural Research in the Production and Operations Management Field","authors":"R. Metters, D. Marshall, Mark Pagell","doi":"10.1561/0200000054","DOIUrl":"https://doi.org/10.1561/0200000054","url":null,"abstract":"We summarize and categorize Operations Management (OM) research on two inter-related types of “culture”: exogenous, or national culture and endogenous, or organizational culture. OM cultural research is far less than one percent of total OM research. We posit that of that small amount, much of OM cultural research is based on numerical approaches that have questionable validity. Qualitative work is highlighted. In addition to being a guide for research, this article is meant to provide substantive examples for teaching the importance of culture in OM. Richard Metters, Donna Marshall and Mark Pagell (2019), “Cultural Research in the Production and Operations Management Field”, Foundations and Trends® in Technology, Information and Operations Management: Vol. 13, No. 1-2, pp 1–150. DOI: 10.1561/0200000054. Full text available at: http://dx.doi.org/10.1561/0200000054","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"1 1","pages":"1-150"},"PeriodicalIF":0.0,"publicationDate":"2019-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87759576","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":"Coping with Errors in Organizations: Challenges, Opportunities, and Frontiers for Operations Management Research","authors":"E. Naveh, Z. Lei","doi":"10.1561/0200000055","DOIUrl":"https://doi.org/10.1561/0200000055","url":null,"abstract":"Coping with Errors in Organizations: Challenges, Opportunities, and Frontiers for Operations Management Research","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"25 1","pages":"349-433"},"PeriodicalIF":0.0,"publicationDate":"2019-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81534450","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":"Financing Suppliers under Performance Risk","authors":"Christopher S. Tang, S. A. Yang, Jing Wu","doi":"10.1561/0200000091","DOIUrl":"https://doi.org/10.1561/0200000091","url":null,"abstract":"This chapter focuses on the relative efficiency of two innovation pre-shipment financing schemes that enable suppliers to obtain financing for production: purchase order financing (POF, under which financial institutions offer loans to suppliers by considering the value of purchase orders) and buyer direct financing (BDF, under which manufacturers lend directly to suppliers). Both schemes are closely related to suppliers’ performance risk (whether the supplier can deliver the order successfully). When the manufacturer and the bank have symmetric information regarding the supplier’s operational capabilitiy, we find that even though POF and BDF yield the same payoffs, BDF allows more flexibility in contract terms. However, when the manufacturer has superior information, BDF leads to higher payoffs when the supplier is severely financially constrained. The relative benefit of BDF is more pronounced when the supply market contains a larger fraction of inefficient suppliers, when efficiency gaps between suppliers are greater, or when the manufacturer’s alternative sourcing option is more expensive.","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"6 1","pages":"135-151"},"PeriodicalIF":0.0,"publicationDate":"2019-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90305982","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":"Financial Incentives to Avoid Major Quality Problems in a Supply Chain","authors":"S. A. Slotnick, M. J. Sobel","doi":"10.1561/0200000090","DOIUrl":"https://doi.org/10.1561/0200000090","url":null,"abstract":"","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"179 1","pages":"316-333"},"PeriodicalIF":0.0,"publicationDate":"2019-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73144298","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":"Optimal Positioning in the Derivative Market: Review, Foundations, and Trends","authors":"P. Guiotto, Andrea Roncoroni","doi":"10.1561/0200000085","DOIUrl":"https://doi.org/10.1561/0200000085","url":null,"abstract":"","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"31 1","pages":"254-279"},"PeriodicalIF":0.0,"publicationDate":"2019-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81047601","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":"Risk Management in Commodity Processing Firms","authors":"Hamed Ghoddusi","doi":"10.1561/0200000093","DOIUrl":"https://doi.org/10.1561/0200000093","url":null,"abstract":"","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"102 1","pages":"219-239"},"PeriodicalIF":0.0,"publicationDate":"2019-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89293874","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":"Quadratic Hedging of Commodity and Energy Cash Flows","authors":"N. Secomandi","doi":"10.1561/0200000089","DOIUrl":"https://doi.org/10.1561/0200000089","url":null,"abstract":"","PeriodicalId":39990,"journal":{"name":"Foundations and Trends in Technology, Information and Operations Management","volume":"160 1","pages":"240-253"},"PeriodicalIF":0.0,"publicationDate":"2019-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85932907","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}