Weather, Affect, and Consumption Preference for Hedonic and Utilitarian Products: The Moderating Role of Gender

How and why does the association between weather and hedonic consumption differ between males and females? This paper theorizes that females have a stronger affective response to weather conditions, which subsequently induces a larger increase in their hedonic consumption compared to males. Four studies show that the relationship between weather conditions and hedonic consumption (food and non-food items) is mediated by affect. The four studies achieve triangulation by using diverse methodologies (surveys and experiments), participants (students and non-students), measures of independent variables (weather conditions as measured and manipulated), dependent measures (consumption preference and choice), and consumption modalities (food and non-food).

  • Profs. Rahul Govind & Nitika Garg, UNSW, Sydney
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  • 2018-01-22

Spatial Analysis: A Helicopter Tour (From the Beginning to the Frontier)

We will begin at the beginning of spatial analysis, around mid-18th century. The introduction will be at a general level of epidemiology. Then we will slowly move to spatial statistics, spatial econometrics and finally to, spatial urban economics. We will touch on the contrast between time-series and spatial dependence, and the need for moving from linear to non-linear models; from fixed to space varying coefficient models. More specifically, in the context of urban econometrics, we will study the price of housing; we will argue that not only the spatial dependence of house prices, but also the dependence in the variability (risk) of prices need to be considered, leading to non-linear spatial autoregressive conditional heteroskedastic (SARCH) model. The major highlight of the talk will be how to test various spatial models, particularly, in the context of possible misspecification.

  • Prof. Anil K. Bera, University of Illinois at Urbana-Champaign (UIUC)
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  • 2018-01-12

A Recombination- Based Internationalization Model: Findings from Narayana Health's Journey from India to the Cayman Islands

We present a longitudinal study of the expansion of Narayana Health (NH), a healthcare provider, within India and its subsequent development of a tertiary care hospital in the Cayman Islands. Contrary to past research suggesting that the alignment of a firm's resources and managerial mindset with its home-country context can make internationalization difficult, we study how the Cayman project benefited from NH's experience in India. First, NH responded with context-appropriate resources for designing hospitals for the different market segments within India. Second, in setting up the Cayman hospital, NH recombined select resources from these pre-existing hospitals in India. Building on these findings, we propose a recombination-based model for internationalization in which firms, while expanding in the host country, draw from, adapt, and then integrate diverse resources developed earlier to address home-country context heterogeneity. The proposed model is significant as it suggests how diverse resources developed in the home country can make a firm more effective in expanding in the host country.

  • Prof. Budhaditya Gupta, University of Melbourne
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  • 2018-01-11

Promise and politicians in an uncertain world: Evidence from a lab-in-the-field experiment in India

In parliamentary democracies, politicians play an obvious and critical role in choosing and implementing policies. A key question in implementation failures, especially due to the uncertainty about the true state of nature, is whether the failure is caused e.g. by deliberate inaction on the part of an elected office holder or by upstream recalcitrance or incompetence within the relevant departments of the bureaucracy. Our paper investigates the risk of politician induced implementation failure and possible mechanisms, based on social preferences, to reduce such failures. We examine the effect of introducing a promise in a non-anonymous dictator game played by local politicians in a controlled setting in rural India. In our modified dictator game, nature intervenes with a positive probability and chooses the most unfavorable outcome (zero) for the recipient. The recipient cannot observe whether nature intervened. We compare two treatments: (1) dictators only choose how much to distribute in case they, and not nature, decide the outcome; and (2) dictators first have to make a non-binding promise to the recipient and then play (1). We find that (i) the large majority of dictators promise to distribute a positive amount, (ii) many keep their promises, and (iii) the number of those who distribute zero in the promise-treatment drops significantly with respect to the no-promise treatment, i.e., recipients, on average, get significantly more. This suggests that forcing politicians making promises improve citizens' welfare because it prevents them from hiding behind unfortunate events

  • Prof. Prasenjit Banerjee, University of Manchester
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  • 2018-01-09

Different Worlds Together: How Researchers and Practitioners Co-create Knowledge

The communities of research and practice are embedded in epistemic cultures that favor specific strategies, practices, and apparatus - in other words, ways of knowing. Scholars have investigated the differences between these communities and how knowledge can be transferred from research to practice; relatively little effort has been spent exploring how these communities can co-create knowledge. We address this omission by observing two projects in which researchers and managers met periodically to co-create knowledge that helps redress sustainability issues. We supplemented these observations with 57 interviews with researchers, managers and project managers who participated in similar projects. Our findings contribute to prior literature on co-creating knowledge across boundaries, and the research-practice gap. Specifically, we find that the moving out of interstitial spaces is as important as being within them; the processes of building boundary objects are as valuable as the knowledge contained within them; and the practices that highlight the provisionality of objects are as important as merely seeing them as incomplete.

  • Prof. Garima Sharma, Anderson School of Management, University of New Mexico
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  • 2018-01-05

Economic measures of capacity utilization: A nonparametric cost function analysis

Cost based measures of capacity utilization and capacity output are important metrics for evaluating firm performance. Understanding where firms are producing on their average cost curve provides information about whether capacity utilization is greater then, less than or equal to one. This in turn tells managers whether output should be increased, decreased or kept constant. Most firms are multi-output, multi-input in nature which makes estimation of capacity utilization and capacity output challenging if a cost based metric is desired. For a multi-output firm, the relevant concept is ray average cost (RAC) which can be estimated through non-linear DEA models. This paper demonstrates a method to linearize the non-linear DEA program to estimate average, or ray average cost, and to use the results to determine capacity utilization and optimal output. The methods are empirically tested on data from a panel of U.S. electricity producers for the single output case, and a sample of dental practices for the multi-output case. Results show that for both industries, most firms were operating at less than full capacity, and needed to expand output to minimize their costs. For the dental practices, examination of results from six randomly chosen firms showed the importance of operatories in determining optimal levels of output.

  • Prof. Subhash C. Ray, University of Connecticut
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  • 2018-01-05

Prior Startup Experience, Social Networks, and Transnational Entrepreneurship in Silicon Valley

This paper contributes to our understanding of the role played by startup experience and social networks in two countries - India and the US - in influencing and enabling immigrant diaspora entrepreneurs to found cross-border ventures. Specifically, it examines the experience of 30 entrepreneurs from the Indian sub-continent, who founded their ventures in Silicon Valley, California. The entrepreneurs are unique in that they are serial entrepreneurs who founded multiple ventures, including most recently, transnational ventures. Our findings indicate that prior startup experience influences entrepreneurs' ability to manage and operate startups. The strong ties that they develop through prior experience as well as alumni networks, help entrepreneurs to find co-founders and team members, both in the US and India. Family ties are valuable, but not essential, in establishing transnational ventures. These findings contribute to the emerging literature on transnational entrepreneurship, which is becoming a common phenomenon across the world.

  • Prof. Anuradha Basu, San Jose State University
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  • 2018-01-04