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Publications (65)
This study investigates how an increase in the quality of business ventures, measured as their success probability, affects trust and return on investment (ROI) in situations where the investor–entrepreneur interaction is affected by moral hazard and asymmetric information. We model a repeated trust problem between investors and entrepreneurs, feat...
Designing sustainable underground metro lines in dense urban environments is a highly challenging task that requires the collaboration of numerous stakeholders and consultants to make crucial decisions influenced by several factors. While it is impossible to address every issue influencing the decision-making process, identifying key factors and th...
Background: Exchangeable item repair systems are inventory systems. A nonfunctional item is exchanged for a functional item and returns to the system after being repaired. In our periodic review setting, repair is performed either in-house or outsourced. When repair is in-house, a repaired item is returned to stock regardless of the repair status o...
The “wisdom of the crowd” is a concept that argues that collective opinion is better than any single (even expert) opinion. The wisdom of the crowd has a particularly important implication in tenders. Consider the scenario of project bidding, where multiple contractors bid for a contract and the winner is the bidder committing for the lowest cost....
Aim/Purpose. Patients’ length of stay in emergency departments (ED) is a widespread problem that poses great hardship on patients and health providers alike. This paper’s purpose is to reduce length of stay (LOS) for patients presenting to the ED with headaches. Background. The increasing number of patients admitted to emergency departments challen...
We develop an asymmetrically two-sided location model to investigate how firms react to ethically motivated boycotts. We model ethicality as a continuous spectrum between zero (no ethicality) and one (absolute ethicality). Customers are assumed to be distributed such that their density decreases the higher they are in the ethical spectrum. Boycotti...
Aim/Purpose: This paper reports a case study of organizational transition from a non-competitive selection method to a novel bidding method for the selection of consultants in the Architectural and Engineering (A/E) industry. Background: Public procurement agencies are increasingly relying on external consultants for the design of construction proj...
We consider the stocking problem of an inventory system in which orders are issued continuously in time, whereas the delivery of orders is done only periodically. This setting is particularly relevant in remote regions with available communication infrastructure but limited transportation access. We develop an exact formula for the window fill rate...
We consider the stocking problem of an inventory system in which orders are issued continuously in time, whereas the delivery of orders is done only periodically. This setting is particularly relevant in remote regions with available communication infrastructure but limited transportation access. We develop an exact formula for the window fill rate...
Objective:
To analyze the cost effectiveness of cochlear implantation (CI) for the treatment of single-sided deafness (SSD).
Study design:
Cost-utility analysis in an adapted Markov model.
Setting:
Adults with single-sided deafness in a high-income country.
Intervention:
Unilateral CI was compared with no intervention.
Main outcome measure:...
Aim/Purpose: The first goal is to develop a decision support system for pricing and production amounts for a firm facing high levels of product returns. The second goal is to improve the management of the product returns process. Background: This study was conducted at a food importer and manufacturer in Israel facing a very high rate of product re...
Aim/Purpose: This study’s objective is to demonstrate the wisdom of the crowds phenomenon in construction project tenders and relate it to cost overruns in these projects. Background: The wisdom of the crowd’s phenomenon is an age-old idea that argues that collective opinion is better than any single (even expert) opinion. The first data-based evid...
Aim/Purpose: This paper reports a case study of organizational transition from a non-competitive selection method to a novel bidding method for the selection of consultants in the Architectural and Engineering (A/E) industry. Background: Public procurement agencies are increasingly relying on external consultants for the design of construction proj...
Many periodic review inventory studies make the simplifying assumption that orders do not crossover, that is, that they are delivered in the same sequence as they were issued. In many real-life situations, however, long international shipping routes result with frequent crossovers. Accordingly, we investigate a periodic review inventory system with...
Deliveries in global supply chains are often made through lengthy shipping routes that are subject to many delays such as border crossings, inspections and so forth. Consequently, orders frequently crossover, that is, their order of arrival is not the same as the order that they were issued. In this paper we model a multiple location inventory syst...
We analyze the window fill rate in an inventory system with constant lead times under a periodic review policy. The window fill rate is the probability that a random customer gets serviced within a predefined time window. It is an extension of the traditional fill rate that takes into account that customers generally tolerate a certain waiting time...
This chapter describes a two-step decision-support risk model that focuses on investment in information technology security. In the first step, the risk level of each of the system's components is mapped with the goal of identifying the subsystems that pose the highest risk. In the second step, the model determines how much to invest in various tec...
Aim/Purpose: The first goal is to develop a decision support system for pricing and production amounts for a firm facing high levels of product returns. The second goal is to improve the management of the product returns process. Background: A food importer and manufacturer in Israel with a significant product returns rate. Methodology: A decision...
This chapter considers the optimization of spares for various multiple-location inventory systems. The systems’ performance level is the window fill rate, which generalizes the fill rate by taking into account customer patience, that is, that customers may tolerate a certain wait. Formally, the window fill rate of a particular location is the perce...
We study the spares allocation problem in a multiple-item, multiple-location inventory system with periodic review. The system allocates spares with the objective of maximizing the window fill rate, which is the probability that a random customer is served within a given time window. The advantage of the window fill rate as a service performance me...
We study the spares allocation problem in a multiple location inventory system with stochastic lead times under a periodic review policy. The system’s performance measure is the window fill rate, which is defined as the probability that a random customer is served within a given time window. The appeal of using the window fill rate is that it incor...
This article develops a principal-agent multi-period model that ties legal risks, auditing fees and internal accounting practices. The principal is the auditing firm and the agent is the client firm. The client firm can improve its credibility by improving its internal auditing practices, which results in lower audit fees to the auditor firm. It is...
One suggestion to overcome the range anxiety of electrical vehicle owners is the use of a network of battery swapping stations. To improve the network’s performance, managers can purchase spares and place them in the network’s stations. The battery allocation problem, therefore, is finding the allocation that optimizes the network’s performance. Fo...
We develop a one-sided location model to predict the ethical behavior of firms in a market with consumer boycotting. Consumers’ ethical level is distributed along a line segment and they purchase only at firms that conform to their ethical consciousness. Firms maximize profits by choosing their ethical level. To capture the boycotting phenomena we...
We consider a repair shop in which each unit comprises multiple component types and cannibalization is allowed. The shop's managers have a budget for purchasing spare components and need to decide how many spares of each component type to purchase. Customers arrive to the shop with a single unit of which at least one of its components has failed an...
We solve the spares allocation problem in a two-echelon, exchangeable-item repair system in which the lower echelon comprises multiple locations and the higher echelon is a single depot. We assume that customers tolerate a certain wait and therefore the optimization criterion is the window fill rate, i.e., the expected portion of customers who are...
This article describes a two-step decision support model for investing in information technology security, both development and application. In the first step, the risk level of each of the system’s components is mapped, with the aim of identifying the subsystems that pose the highest risk. In the second step, the model determines how much to inves...
Aim/Purpose: This paper describes and information system for the maintenance and management of municipal lighting systems that also serves as a decision support tool for reducing power consumption on urban lighting. Background: Many municipalities are financially constrained and unable to invest in improving their lighting infrastructure. We propos...
The fill rate service measure describes the proportion of customers who commence service immediately upon arrival. Since, however, customers will usually tolerate a certain wait time, managers should consider the window fill rate in lieu of the fill rate. That is, the performance measure of interest is the probability that a customer is served with...
In a multi-location, exchangeable-item repair system with stochastic demand, the expected waiting time and the fill rate measures are oftentimes used as the optimization criteria for the spares allocation problem. These measures, however, do not take into account that customers will tolerate a reasonable delay and therefore, a firm does not incur r...
Supplier selection and assessment is at the core of the procurement process. This study investigates how procurement officers in Israel's universities select and assess their suppliers. The authors explore which information channels officers use to assess suppliers and find that incidental and informal information sources are the most frequently us...
Aim/Purpose: To develop and introduce a questionnaire that investigates the informing needs, information-seeking behavior, and supplier selection of procurement officers in Israel. The questionnaire’s internal consistency reliability is given. Additionally, we describe the demographic description of the procurement officers in Israel. Background: P...
Aim/Purpose: [This Proceedings paper was revised and published in Informing Science: the International Journal of an Emerging Transdiscipline (InfoSci)] To develop and introduce a questionnaire that investigates the informing needs, information-seeking behavior, and supplier selection of procurement officers in Israel. The questionnaire’s internal...
We echelon system consider with exchangeable-item a ample multi-item, repair servers. multi- repair Customers arriving to the system with failed items will receive any available item whereas the failed item will be either repaired onsite or sent to higher echelons for repair. To decrease the average waiting time of a random customer, managers can i...
The transition from printed to electronic sources of information has resulted in a profound change
to the way procurement officers seek information. Furthermore, in the past decade there have
been additional technological revolutions that are expected to further affect the procurement process.
In this paper, we conduct a survey among forty nine uni...
This paper presents a method of time series forecasting based on the integration of fuzzy logic and chaos theory. The proposed method has two stages. On the first stage, we consider the time series as a dynamic system and using the methods of mutual information and false nearest neighbors, as a part of applied chaos theory, we reconstruct the phase...
The transition from printed to electronic sources of information has resulted in a profound change to the way procurement officers seek information. Furthermore, in the past decade there have been additional technological revolutions that are expected to further affect the procurement process. In this paper, we conduct a survey among forty nine uni...
We develop a two-stage model for identifying IT system modules with high security risks. In the first phase, we identify the subsystems that pose the highest risk and which require further investigation. In the next phase, we identify the high-security-risk modules using a more detailed approach. The output of this model helps managers decide on ho...
In today's knowledge environment, individuals and groups who gather relevant information about the organization's external environment and distribute that information for use by their colleagues receive increasing attention and are viewed with great importance. These individuals have been named Information Gatekeepers. Thus far, researchers have no...
This study examines the effect of the ISO 9001 standard on organisations' knowledge management. Understanding this effect may improve the conceptualisation and the creation of knowledge management tools. The first research question examines the relationship between the level of the application of the standard and the level of measurement of knowled...
Many successful land-bridge projects have been constructed around the world. This fact has led the Israeli government to design a land bridge from Eilat port on the Red Sea coast to the Ashdod Port on the Mediterranean Sea coast. The planned project is expected to realise many benefits and profits. These are grouped into two groups. The first group...
In today's knowledge environment, individuals and groups who gather relevant information about the organization's external environment and distribute that information for use by their colleagues, receive increasing attention and are viewed with great importance. These individuals have been named Information Gatekeepers. Thus far, researchers have n...
We compare two common government R&D support programs, R&D tax credits and direct R&D grants. To study their effectiveness and the extent to which their design matters, we analyze these programs within a dynamic equilibrium model of imperfectly competitive industries. Adopting comprehensive welfare measures that take into account government, produc...
We develop a multi-period dynamic model in which managers decide in each period how much to invest in improving process reliability. The optimal investment decision will minimize the firm’s total costs, which are comprised of its preventive costs and failure costs. We explicitly characterize the optimal investment scheme under different output grow...
We develop a dynamic principal-agent model to show how imperfect public information and asymmetric beliefs, asymmetric risk attitudes, complementary actions by both parties, and inter-temporal adverse selection arising from the agent's unobservable actions interact to affect optimal dynamic contracts. Our continuous-time formulation of the model, w...
We develop a structural model to investigate the effects of asymmetric beliefs and agency conflicts on dynamic principal–agent
relationships. Optimism has a first-order effect on incentives, investments, and output, which could reconcile the private
equity puzzle. Asymmetric beliefs cause optimal contracts to have features consistent with observed...
Purpose – The purpose of this study is to characterize learning from asynchronous sources among research and development (R&D) personnel. It aims to examine four aspects of asynchronous source learning: employee preferences regarding self-learning; extent of source usage; employee satisfaction with these sources and the effect of the sources on the...
We develop a continuous-time stochastic principal-agent model to investigate the effects of asymmetric beliefs and agency conflicts on the characteristics and valuation of venture capital projects. In our model, a venture capitalist (VC) and an entrepreneur (EN) have imperfect information and differing beliefs about the intrinsic quality of a proje...
We develop a dynamic, structural model to quantitatively assess the effects of risk, uncertainty and asymmetric beliefs about project quality on the characteristics of venture capital relationships. We estimate the model parameters with data about the distributions of total investments, payoffs, risks and returns of venture capital projects. Entrep...
We consider a risk averse entrepreneur who approaches a diversified venture capitalist (VC) for financing of a project with positive potential return. We develop several models that capture key features of the venture financing, including staged investment, VC oversight costs and agency conflicts. The contract between the VC and the EN includes ris...