infonet-economy

The chief strategy officer (CSO) position has recently been gaining prominence in European firms. However, little is known about this new executive role. In this article, the authors report some of their findings from a major research program that involved two surveys of CSOs and give a portrayal of the CSO’s role in continental European firms. The article further highlights how CSOs...

This paper introduces a new numerical option pricing method by fast recursive projections. The projection step consists in representing the payoff and the state price density with a fast discrete transform based on a simple grid sampling. The recursive step consists in transmitting coefficients of the representation from one date to the previous one by an explicit recursion formula....

People often attach a higher value to an object when they own it (i.e., as seller) compared with when they do not own it (i.e., as buyer)—a phenomenon known as the endowment effect. According to recent cognitive process accounts of the endowment effect, the effect is due to differences between sellers and buyers in information search. Whereas previous investigations have focused on...

This study report provides European management consulting firms' assessment of trends and currently prevailing business models in the industry. It depicts the different threats and opportunities that consulting firms with different business models, consulting foci, sizes, leverage ratios, international orientations, and geographical footprints face; it also reveals these firms...

When predicting the next outcome in a sequence of events, people often appear to expect streaky patterns, such as that sport players can develop a “hot hand,” even if the sequence is actually random. This expectation, referred to as positive recency, can be adaptive in environments characterized by resources that are clustered across space or time (e.g., expecting to find multiple...