Breaking the Winner's Curse in Outsourcing

被引：8

作者：

Jiang, Bin ^{[2
]}

Talluri, Srinivas ^{[1
]}

Yao, Tao ^{[3
]}

Moon, Yongma ^{[3
]}

机构：

[1] Michigan State Univ, Eli Broad Grad Sch Management, Dept Mkt & Supply Chain Management, E Lansing, MI 48824 USA

[2] Depaul Univ, Dept Management, Kellstadt Grad Sch Business, Chicago, IL 60604 USA

[3] Penn State Univ, Harold & Inge Marcus Dept Ind & Mfg Engn, University Pk, PA 16802 USA

来源：

DECISION SCIENCES | 2010年 / 41卷 / 03期

关键词：

Flexible Price Contract; Gain-Sharing Contract; Geometric Brownian Motion; Mean-Reverting Process; Outsourcing; Winner's Curse; OPTIONS;

D O I：

10.1111/j.1540-5915.2010.00281.x

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This research utilizes real options theory to investigate how to break the winner's curse in contracting through effective contracting mechanisms. We focus on two contracting approaches: flexible price contract and gain-sharing contract. For reasons of analytical tractability, we first utilize the geometric Brownian motion as the dynamic model to obtain closed-form solutions to break the outsourcing winner's curse. Subsequently, we extend our model to the mean-reverting process and provide numerical examples to verify the validity of our closed-form results, which have not previously been presented in the outsourcing literature. Finally, we provide prescriptions for the problem of the winner's curse in outsourcing.

引用

页码：573 / 594

页数：22

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