An invaluable account of how auctions work-and how to make them work Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.

The Basics Interior Design series comprises a collection of titles examining the application of interior design principles to different types of space. Packed with cutting-edge examples and fully illustrated with clear diagrams and inspiring imagery, they offer an essential introduction to the subject. This second edition of Retail Design examines the latest developments in the contemporary retail design sector worldwide. It guides the reader step by step through the retail design process, providing strategies that can produce a successful retail space and a design that is appropriate for the brand, product, consumer and retailer. A new chapter exploring consumer behaviour is combined with clear explanations of branding and identity, to provide the starting point for the design concept. The relationship between the interior and its context, site and setting is then examined, alongside in-depth investigations of layout, circulation and pace and other design considerations. Fully updated with new international case studies and expanded coverage on sustainability, interactivity, and innovative design concepts - this new edition of Retail Design offers cutting-edge insights into the practice of contemporary retail design and shows designers how to meet and exceed the expectations of today's clients and consumers.

No other guide covers the complete retail picture like this exciting new volume. The global retail industry is in the midst of vast changes. Malls are being redesigned in the U.S., while new mall construction is booming in Asia. Savvy firms are combining bricks, clicks and catalogs into multi-channel retail powerhouses. Which are the hottest retailers? What lies ahead? Our market research shows you trends and a thorough analysis of technologies, chain stores, shopping centers, mergers, finances and future growth within the industry. Included are major statistical tables showing everything from retail sales by sector, to mall sales per square foot, to the advent of retail-based entertainment venues. Meanwhile, the corporate profiles section covers the Retail 500 Firms, giving you complete profiles of the leading, fastest growing retail chains around the world, both public and private. These profiles include corporate names, addresses, phone and fax numbers, web site addresses, growth plans, competitive advantage, financial histories and up to 27 executive contacts by title. You'll find a complete overview, industry analysis and market research report in one superb, value-priced package.

The growth of internet access and the entry of smartphones into everyday life has provided a revolutionary way for consumers to interact with businesses throughout the tourist industry. As a result, numerous companies are utilizing techniques and concepts designed to communicate directly with potential clientele all over the world. Digital Marketing Strategies for Tourism, Hospitality, and Airline Industries provides innovative insights into how digital marketing can influence the consumer relationship at every stage of the tourism process and features emerging tools and techniques to establish better connections with consumers. The content within this publication examines topics such as branding strategies, social media, and influencer marketing for maximum content exposure. This information is designed for marketing managers, executives, event planners, tour developers, hotel managers, airline managers, program directors, advertisers, restaurateurs, students, business professionals, and researchers.

Through the growing penetration of new technologies, online consumers can now share and collaborate amongst themselves while shopping online. As they receive information about products from media exposure and their collaboration with other consumers, it is critical for businesses to understand the social impact and influence of social and mobile commerce and how it can affect consumer habits. Strategies and Tools for Managing Connected Consumers provides emerging research exploring the techniques and impacts of new technologies deployed in today's digital marketplace as well as recent development and empirical research on consumer behavior. Featuring coverage on a broad range of topics such as social computing, virtual communities, and consumer management, this book is ideally designed for professionals, researchers, business managers, and students who want to improve their understanding of new strategies for conducting online business in networked environments.

Introduction to Operations Management: A Supply Chain Process Approach details how firms buy, make, deliver, and return goods and services around the globe, providing students with a solid foundation of operations management concepts and techniques. The text offers a set of activities that guide the effectiveness of organizations and prepare operations managers and other employees to ensure their firms are competitive. The book is organized from a strategic to a tactical perspective, beginning with foundational concepts and ending with broader discussions of managing supply chains. Dedicated chapters address corporate strategy, services design, inventory management, aggregate planning, forecasting, lean systems, quality management, integrating processes along the supply chain, and more. Numerous real-world examples, cases, and engaging exercises allow students to place themselves in the shoes of working operations management professionals. The second edition features examples of real companies using analytical tools in decision-making situations, as well as extensive web-based content including flashcards, YouTube videos, and graded chapter quizzes. The textbook's coverage also includes emerging trends for most chapters, such as sustainability, customer relationships, and working in the global marketplace. Written for today's students and the exciting, ever-evolving marketplace, the second edition of Introduction to Operations Management is the text to bring operations management into the modern era.

In today's technology-driven economy, organizations are attempting to create a digital identity of their brand in order to remain prevalent among consumers. As today's consumers are spending an increased amount of time on digital platforms, maintaining a presence online is crucial for companies to remain successful and relevant. Due to this necessity, there have been significant advancements made in the field of digital marketing and branding. Innovations in Digital Branding and Content Marketing is a collection of innovative research on the methods and advancements in the field of advertising and marketing using digital technologies. While highlighting topics including gamification, typography, and consumer-generated media, this book is ideally designed for advertisers, marketers, brand managers, PR professionals, content specialists, researchers, practitioners, executives, students, and academicians seeking current research on advanced strategies and developments in digital marketing.

The furniture industry serves as an indicator for the changing state of American manufacturing. A brief history of U.S. furniture manufacturing creates the context for continuing geographic shifts among Asian locations, foreign ownership impacts and global market considerations, as well as the demands of three significant domestic market demographics. The furniture industry is separated into its various parts from wood to metal, home to institutional markets. Government actions including tariffs, health, and environmental regulations are also considered. Based on numerous interviews and site visits, strategies of corporate survivors in the face of mergers, and emergence of new players are profiled to indicate practices for increasing adaptive capacity and marketing the appeal of "made here". This book highlights the role of global networks, lean and green production methods, customized quality versus price competitiveness, online outreach along with showroom access, labor issues, and related factors that continue to compel location shifts and extensions.

User opinions about service experiences have been extensively acknowledged to play a key role in influencing the consumption decisions of other customers. The widespread adoption of internet technologies has amplified enormously the volume and the potential impact of such customer-generated content in the form of electronic word-of-mouth (eWOM). Exploring the Power of Electronic Word-of-Mouth in the Services Industry is an essential research book that explores the importance of consumer perception and the influence of word-of-mouth in the digital world. Featuring a range of topics such as data mining, online engagement, and social media, this book is ideal for academicians, researchers, IT developers, marketers, managers, media specialists, and professionals.