A bounded rationality model of information search and choice in preference measurement


Journal of Marketing Research

avril 2015, vol. 52, n°2, pp.166-183

Départements : Marketing

Mots clés : Eye tracking, Preference measurement, Dynamic discrete choice models

It is becoming increasingly easier for researchers and practitioners to collect eye-tracking data during online preference measurement tasks. The authors develop a dynamic discrete choice model of information search and choice under bounded rationality, which they calibrate using a combination of eye-tracking and choice data. Their model extends Gabaix et al.'s (2006) directed cognition model by capturing fatigue, proximity effects, and imperfect memory encoding and by estimating individual-level parameters and partworths within a likelihood-based hierarchical Bayesian framework. The authors show that modeling eye movements as the outcome of forward-looking utility maximization improves out-of-sample predictions, enables researchers and practitioners to use shorter questionnaires, and allows better discrimination between attributes

A desire for deviance: The influence of leader normativeness and inter-group competition on group member support


Journal of Experimental Social Psychology

janvier 2015, vol. 56, pp.36-49

Départements : Management et Ressources Humaines, GREGHEC (CNRS)

Mots clés : Deviance; Leadership; Inter-group competition; Social identity

A Note on 'Sourcing Decisions with Stochastic Supplier Reliability and Stochastic Demand'


Production and Operations Management

octobre 2015, vol. 24, n°10, pp.1636-1639

Départements : Informations Systems and Operations Management, GREGHEC (CNRS)

Mots clés : Sourcing, Supplier selection, Random yield

This note complements the study of Burke, Carillo, and Vakharia (2009 hereafter “BCV”) which analyzes a class of single-product multisourcing problems under stochastic demand and random yields. The purpose is twofold. First, we prove that the objective function used by these authors is only a lower bound for the expected profit for which we provide the correct expression. Second, we show on some of the numerical instances provided in BCV's study that the structure and the performance of the BCV ordering policy may be substantially different from the optimal ordering policy. We conclude by giving general qualitative insights characterizing suboptimality of the BCV solution

A Sense of the Magical: Names in Lord Dunsany’s The King of Elfland’s Daughter


Names: A Journal of Onomastics

décembre 2015, vol. 63, n°4, pp.189-199

Départements : Langues et Cultures

Mots clés : Lord Dunsany, The King of Elfland's Daughter, Literary onomastics, Fantasy, Magic in literature

Contributing to the enchantment of the author’s celebrated prose, the names in Lord Dunsany’s best-known novel evoke a world of fairytale, myth, and song; ring true to the characters and places they designate; and fashion themselves into a constellation of correspondences in sound, form, and sense.

A world of models: review of Mary S. Morgan, The world in the model: how economists work and think (book review)


Journal of Economic Methodology

2015, vol. 22, n°2, pp.235-240

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Accounting for business combinations: Do purchase price allocations matter?


Journal of Accounting and Public Policy

2015, vol. 34, n°4, pp.362-391

Départements : Comptabilité et Contrôle de Gestion

Accounting for Quality: On the relationship between accounting and quality improvement in the UK National Health Service


BMC Health Services Research

2015, vol. 15, n°1, pp.178-211

Départements : Comptabilité et Contrôle de Gestion

Mots clés : Quality Quality improvement Accounting Measurement Patient survey

BackgroundAccounting-that is, standardized measurement, public reporting, performance evaluation and managerial control-is commonly seen to provide the core infrastructure for quality improvement in healthcare. Yet, accounting successfully for quality has been a problematic endeavor, often producing dysfunctional effects. This has raised questions about the appropriate role for accounting in achieving quality improvement. This paper contributes to this debate by contrasting the specific way in which accounting is understood and operationalized for quality improvement in the UK National Health Service (NHS) with findings from the broadly defined ‘social studies of accounting’ literature and illustrative examples.DiscussionThis paper highlights three significant differences between the way that accounting is understood to operate in the dominant health policy discourse and recent healthcare reforms, and in the social studies of accounting literature. It shows that accounting does not just find things out, but makes them up. It shows that accounting is not simply a matter of substance, but of style. And it shows that accounting does not just facilitate, but displaces, control.SummaryThe illumination of these differences in the way that accounting is conceptualized helps to diagnose why accounting interventions often fail to produce the quality improvements that were envisioned. This paper concludes that accounting is not necessarily incompatible with the ambition of quality improvement, but that it would need to be understood and operationalized in new ways in order to contribute to this end. Proposals for this new way of advancing accounting are discussed. They include the cultivation of overlapping and even conflicting measures of quality, the evaluation of accounting regimes in terms of what they do to practice, and the development of distinctively skeptical calculative culture

Accurate Methods for Approximate Bayesian Computation Filtering


Journal of Financial Econometrics

automne 2015, vol. 13, n°4, pp.798-838

Départements : Finance, GREGHEC (CNRS), Economie et Sciences de la décision

Mots clés : Bandwidth, Kernel density estimation, Likelihood estimation, Model selection, Particle filter, State-space model, Value-at-risk forecasts

The Approximate Bayesian Computation (ABC) filter extends the particle filtering methodology to general state-space models in which the density of the observation conditional on the state is intractable. We provide an exact upper bound for the mean squared error of the ABC filter, and derive sufficient conditions on the bandwidth and kernel under which the ABC filter converges to the target distribution as the number of particles goes to infinity. The optimal convergence rate decreases with the dimension of the observation space but is invariant to the complexity of the state space. We show that the adaptive bandwidth commonly used in the ABC literature can lead to an inconsistent filter. We develop a plug-in bandwidth guaranteeing convergence at the optimal rate, and demonstrate the powerful estimation, model selection, and forecasting performance of the resulting filter in a variety of examples

Approval Voting and Arrow's Impossibility Theorem


Social Choice and Welfare

mars 2015, vol. 44, n°3, pp.519-532

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Approval voting has attracted considerable attention in voting theory, but ithasrarelybeeninvestigatedinanArrovianframeworkofcollectivepreference(”socialwelfare”) functions and never been connected with Arrow’s impossibility theorem.The article explores these two directions. Assuming that voters have dichotomouspreferences, it first characterizes approval voting in terms of its collective preferenceproperties and then shows that these properties become incompatible if the collectivepreference is also taken to be dichotomous. As approval voting and majority votinghappen to share the same collective preference function on the dichotomous domain,the positive result also bears on majority voting, and is seen to extend May’s andInada’s early findings on this rule. The negative result is a novel and perhaps surprisingversion of Arrow’s impossibility theorem, because the axiomatic inconsistency herestems from the collective preference range, not the individual preference domain

Approximate Implementation In Markovian Environments


Journal of Economic Theory

septembre 2015, vol. 159, Part A, pp.401-442

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Mots clés : Implementation, Approximation, Undetectability, Efficiency, Dynamic, Mechanism Design, Markov Processes

This paper considers dynamic implementation problems in environments with changing private information (according to Markov processes). A social choice function is approximately implementable if it is correctly implemented an arbitrary large number of times with arbitrary high probability in all (communication) equilibria. We show that if a social choice function is strictly efficient in the set of social choice functions that satisfy an undetectability condition, then it is approximately implementable