Browsing by Author "Quiroga, Bernardo F."

Now showing 1 - 9 of 9
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    Behavioral ordering, competition and profits : an experimental investigation
    (2019) Quiroga, Bernardo F.; Moritz, Brent; Ovchinnikov, Anton
    We investigate the impact of behavioral ordering on profits under competition. Specifically, we use controlled laboratory experiments to evaluate the differences in profits between a behavioral competitor (where a human places orders), and a management science‐driven competitor (where orders are placed according to one of several plausible policies based on existing literature and managerial practice). Unlike the full‐information game‐theoretic models that assume rational decision‐makers, these policies mimic practical situations by using less information and do not assume that their human competitors make fully rational decisions. Most prior literature focuses on non‐competitive settings, where behaviorally biased deviations from optimal order quantities result in small expected profit losses. In contrast, under competition, we find that human decision‐makers receive a substantially lower profit than the equilibrium expected profit, even as their competitors receive substantially higher profit.
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    Family ownership and firm performance
    (2007) Martinez, Jon I.; Stoehr, Bernhard S.; Quiroga, Bernardo F.
    We studied the impact of family ownership on firm performance by using a set of data on Chilean firms. From a sample of 175 firms listed on the stock market, the group of 100 family-controlled firms performed significantly better than the group of 75 nonfamily companies over the 10-year period under study (1995-2004). Three distinct measures Of performance-ROA, ROE, and a proxy of Tobin's Q-were employed to test the differences of means between the two groups of firms. These results were in line with our multiple regression model. All these findings support our conceptual framework and hypothesis, which states that public family firms perform better than public nonfamily firms.
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    Family ownership and firm performance: Evidence from public companies in Chile
    (2007) Martínez, Jon I.; Stöhr, Bernhard S.; Quiroga, Bernardo F.
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    Forecasting the 2020 COVID-19 Epidemic: A Multivariate Quasi-Poisson Regression to Model the Evolution of New Cases in Chile
    (2021) Vicuna, Maria Ignacia; Vasquez, Cristian; Quiroga, Bernardo F.
    Objectives: To understand and forecast the evolution of COVID-19 (Coronavirus disease 2019) in Chile, and analyze alternative simulated scenarios to better predict alternative paths, in order to implement policy solutions to stop the spread and minimize damage.
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    Hedonic estimation with unobserved characteristics : an application to the housing market in Santiago, Chile
    (2013) Quiroga, Bernardo F.
    We estimate a hedonic price function for the characteristics of housing units in Santiago, Chile, with the aim to capture unobserved utility-generating attributes for each unit. We used for this purpose two different semiparametric regression methods: a local linear kernel regression with a single unobservable index variable, similar to what has been implemented by Bajari and Kahn (2005), and a partially linear in the parameters, partially nonparametric method as first proposed by Robinson (1988). The data used comes from a cross-sectional sample of housing units in Santiago, Chile in 2006. Interestingly, the results obtained for the unobservable components are similar to each other and to ordinary least squares.
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    How to compete against a behavioral newsvendor
    (2015) Ovchinnikov, A.; Moritz, Brent; Quiroga, Bernardo F.
    We investigate newsvendor ordering behavior under competition. We present a laboratory experiment that documents the behavioral ordering regularities in competitive newsvendor environments, and an analytical model extending the standard theory of newsvendor competition by including an optimal best-response policy for competing with a behaviorally biased newsvendor. We test the effectiveness of this policy using an out-of-sample experiment and find that it results in improved market share, service level and profitability
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    Modeling appeals in university accreditation in Chile: an exploratory study
    (2024) Barroilhet, Agustin; Silva, Monica; Quiroga, Bernardo F.
    In Chile, university administrators may appeal to a secondary agency to challenge the accreditation decisions of the primary national accreditation agency. The study analyzes the appeal judgments, using an empirical approach to identify arguments used by the secondary agency to justify its decisions. The analyses identify several factors, such as improvements since the last accreditation, faculty productivity, and financial standing, as the most relevant predictors of appeal success. The appellate agency, however, tends to emphasize the absence of deficiencies or weaknesses associated with these factors when it grants an appeal, sidestepping the primary agency's criteria and standards for accreditation. Such an approach may be appropriate given the heterogeneous landscape of the Chilean higher education system, providing leeway to drive excellence in more selective institutions while maintaining some minimum standards in less selective ones.
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    Nonparametric identification and estimation of score auctions in multi-attribute procurement
    (2021) Quiroga, Bernardo F.; Aldunate, Felipe
    Score auctions are used in procurement to incorporate other attributes beyond price. We establish nonparametric econometric identification of bidders' pseudotypes (a measure of bidder's private cost), when bids are evaluated using a preannounced quasi-linear score, calculated on the basis of the submitted levels of the attributes. Hence, we extend the standard nonparametric method for independent private costs sealed-bid, first price auctions, to multi-attribute quasi-linear score auctions. We illustrate the result with an application to scoring bid data.
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    On doing relevant and rigorous experiments: Review and recommendations.
    (2018) Lonati, S.; Quiroga, Bernardo F.; Zehnder, C.; Antonakis, J.
    Although experiments are the gold standard for establishing causality, several threats can undermine the internal validity of experimental findings. In this article, we first discuss these threats, which include the lack of consequential decisions and outcomes, deception, demand effects and unfair comparisons, as well as issues concerning statistical validity (e.g., minimum sample size per cell, estimating variance correctly). We expose each problem, show potential solutions, and bring to the fore issues of relevance of the findings (i.e., external and ecological validity). Thereafter, we take stock of the state-of-the-science regarding validity threats using a representative sample of 468 recent experiments from 258 articles published in top-tier journals. We compare research practices in three fields of study—management, social psychology, and economics, which regularly use experimental research—to operations management, which has more recently begun to use the experimental paradigm. Our results underscore the importance for journals and authors to follow what we identify to be best-practice methodological suggestions (i.e., the “ten commandments” of experimental research). We show that—on average—markers of methodological rigor and generalizability positively and significantly predict the citations received by published articles. Finally, given that experiments are infeasible in some settings, we conclude with a brief review of often overlooked quasi-experimental designs, which are useful for generating strong counterfactuals and hence allow making causal claims in the field.