Archive for the ‘Featured Resources’ Category

Fuqua Faculty Scholarship: Andres Musalem

Thursday, January 2nd, 2014

management-science-coverYina Lu, Andrés Musalem, Marcelo Olivares, Ariel Schilkrut, (2013) Measuring the Effect of Queues on Customer Purchases. Management Science 59(8):1743-1763.

Professor Andres Musalem of The Fuqua School’s Marketing faculty and his co-authors conducted an empirical study to analyze how waiting in lines (queues) at a retail store affects customers’ purchasing behavior.

Their study methodology combines a novel data set with periodic information about how lines are structured (collected via video recognition technology) with point-of-sales data. The authors found that waiting in line to make a purchase has a nonlinear impact on purchase incidence; and that customers appear to focus mostly on the length of the line, without adjusting enough for the speed at which the line moves.

Unlike prior research, which relied on surveys to measure both actual and perceived waiting times, this study uses actual field data to analyze the effect of lines on customer purchases. During a 7-month pilot study in 2008, Musalem and his co-authors used digital photos analyzed by image recognition software to track the number of people waiting, and the sales staff serving the customers at the deli of a large “supercenter” grocery chain store in a major metropolitan area in Latin America.  They also collected point-of-sale data for all transactions involving relevant  purchases from the beginning of 2008 until the end of the study period.

The research was further focused on grocery purchases of loyalty card customers who visited the store an average of one or more times per month. This accounted for a total of 284,709 transactions from 13,103 customers. Based on their analysis and findings from these data, the authors present and discuss three managerial insights. Pooling (combining) identical lines into a single queue served by multiple staff may result in lost sales. The benefits of adding servers when staffing queues is considered. Finally, the implications of external circumstances generated by congestion for pricing and promotion management in a product category are considered.

One of this paper’s significant contributions to queuing theory research is the development of this research methodology utilizing objective data rather than surveys after the fact. Because of their objective and empirically based methodology, the authors are confident in their conclusions regarding customer behaviors and the impacts of queue design on purchasing behavior.   They also acknowledge that while their research focuses on the short term implications of lines during store visits, there are good opportunities for future applications of their method to study longer term effects of queues and customer service experience on future customer purchases.

The authors’ integration of advanced methods from both operations management and marketing have provided managers with an important and useful tool for decision-making regarding current operations, potential future operations, and the pricing and promotion of products.

Post content only © Carlton Brown & Ford Library, The Fuqua School of Business.

Fuqua Faculty Scholarship – Graham and Harvey

Wednesday, December 4th, 2013

journal-cover-imageToday, we’re beginning a new series of posts on our blog. Fuqua Faculty Scholarship will briefly highlight currently published research by members of the faculty here at the Fuqua School of Business.

In addition to a citation and an adapted abstract, we’ll provide a link to the featured article’s full text online within one of the e-journal platforms provided to Duke users by Ford Library or Duke Libraries. If you’re reading these posts from off-campus, you’ll need to enter your Duke Net ID and password in order to view the article full text.

Ben-David, Itzhak; Graham, John R.; Harvey, Campbell R. (2013) “Managerial Miscalibration“, Quarterly Journal of Economics, Volume 128, Issue 4, November 2013, Pp. 1547-1584.

A person is said to be “miscalibrated” when they overestimate their ability to predict the future, or because they underestimate the volatility of random events. Miscalibration is the systematic underestimation of the range of potential outcomes by individuals, or in the language of psychology, excessive confidence about having accurate information.

Ben-David, Graham, and Harvey ask, does miscalibration apply to senior financial executives and managers, who when designing corporate policies, must routinely estimate future unknowns (e.g., demand, cash flows, and competition)?

Using a unique 10-year panel that includes more than 13,300 expected stock market return probability distributions, the authors find that executives are severely miscalibrated with regard to estimating future unknowns — to the extent that realized market returns are within the executives’ 80% confidence intervals only 36% of the time.

The authors conclude that “knowing that executives are miscalibrated has important implications for investors, regulators, and other corporate stakeholders who rely on corporate data and forecasts.” The authors anticipate future research that will examine “how such data should be best used and also that determines how miscalibrated employees should be compensated and motivated.”

Post content only © Carlton Brown & Ford Library – Fuqua School of Business.
All rights reserved.

New Kindle Business Best Sellers

Tuesday, September 24th, 2013

Fresh off the best seller lists, here are the new business titles available via the Ford Library Kindles:

  • $100 Startup: Reinvent the Way You Make a Living, by Chris Guillebeau
  • Athena Doctrine: How Women (and the Men Who Think Like Them) Will Rule the Future, by John Gerzema
  • Big Data: A Revolution That Will Transform How We Live, Work, and Think, by Viktor Mayer-Schonberger et al
  • Contagious: Why  things catch on, by Jonah Berger
  • Decisive:  How to Make Better Choices in Life and Work, by Chip & Dan Heath
  • End this Depression Now, by Paul Krugman
  • Give and Take:  A Revolutionary Approach to Success, by Adam Grant
  • Great Degeneration:  How Institutions Decay and Economies Die, by Niall Ferguson
  • Happy Money:  The Science of Smarter Spending, by Elizabeth Dunn et al
  • One Thing:  The Surprisingly Simple Truth Behind Extraordinary Results, by Gary Keller
  • Quiet:  The Power of Introverts in a World That Can’t Stop Talking, by Susan Cain
  • Start:  Punch Fear in the Face, by Jon Acuff
  • To Sell is Human:  The Surprising Truth About Moving Others, by Daniel Pink
  • Unthink:  Rediscover Your Creative Genius, by Erik Wahl
  • Billionaire’s Apprentice:  The Rise of the Indian-American Elite, by Anita Raghavan
  • End of Power:  From Boardrooms to Battlefields, by Moises Naim
  • How Asia Works, by Joe Studwell
  • Race for What’s Left:  The Global Scramble for the World’s Last Resources, by Michael Klare
  • Private Empire:  ExxonMobil and American Power, by Steve Coll
  • Why Nations Fail:  The Origins of Power, Prosperity, and Poverty, by Daron Acemoglu
  • This is How:  Surviving What You Think You Can’t, by Douglas Rushkoff
  • Naked Statistics:  Stripping the Dread from the Data, by Charles Wheelan

New School Year, New Kindle Titles

Tuesday, August 20th, 2013

Our MMS students arrived earlier this summer, first year Orientation kicked off two weeks ago, and the second year MBA class have slowly returned to the library.

As you arrive, you may have time to read a few titles that provide clarity to your qualities as an employee, a leader, a partner, or a parent.  Keeping this in mind, the staff of the Ford Library as well as the Career Management Center contributed a few titles available on Kindles.

You may borrow these Kindles from the Ford Library circulation desk by using your Duke ID.  Stop by and borrow a few titles that might change how you see your life’s work.

  • Peter Bregman, 18 Minutes:  Find Your Focus
  • Timothy Clark, et al, Business Model You
  • Bene Brown, Daring Greatly:  How the Courage to Be Vulnerable Transforms the Way We Live, Love, Parent, and Lead
  • Ellis Chase, In Search of the Fun-Forever Job
  • Shawn Achor, Happiness Advantage:  Seven Principles of Positive Psychology
  • George B Bradt, et al, New Leader’s 100 Day Action Plan
  • Shirzad Chamine, Positive Intelligence
  • Meg Whitman, Power of Many:  Values for Success in Business and in Life
  • Dorie Clark, Reinventing You:  Define Your Brand, Imagine Your Future
  • Karen Linder, Women of Berkshire Hathaway:  Lessons from Warren Buffett’s Female CEO’s and Directors
  • Thomas J Neff, et al, You’re in Charge:  Now What?

Movie Recommendations

Friday, April 19th, 2013

Here are a few older DVDs worth checking out:

  • Gosford Park–Written by Downton Abbey scribe, Julian Fellows, this film is a murder mystery set at an English country estate. The upstairs/downstairs class division present even inthe 1930s facilitates director Robert Altman’s penchant for overlapping dialogue and numerous subplots. This Academy Award winner won Best Original Screenplay and features an all-star cast including Helen Mirren, Maggie Smith, Emily Watson and Kristin Scott Thomas.
  • Bleak House–Not a movie, but a Masterpiece Theater production, this miniseries features Charles Dance (Game of Thrones, Lord Tywin Lannister) and Gillian Anderson in Dickens’ indictment of the Victorian legal system. Plot twists, a murder mystery and an infamous inheritance are at the center of this multi-character epic.
  • Death at a Funeral–Featuring a key role by another Game of Thrones favorite, Peter Dinklage (Tyrion Lannister), this  drawing room comedy features plenty of sight gags. At the funeral of the family patriarch things get off to a bad start when the wrong corpse is delivered, and things go downhill from there. A far funnier film than the American remake.

Career 101: Getting the Right Job

Tuesday, October 16th, 2012

Do you know how to respond to an interviewer who has just asked you to tell them about yourself, your weaknesses, or your accomplishments? Fall interview season is here, and employers agree that the key to interview success is preparation. Ford Library offers several new titles on career planning filled with sample interview questions and responses, advice on overcoming interview jitters and avoiding common mistakes, and practical guidance on finding a meaningful career. Visit our career book display or follow the links below to place your hold today.

CAREER PLANNING

Dan Beaudry. Power ties: the international student’s guide to finding a job in the United States.

Drew Tewell. The dream job program: get the job you want. 1st ed.

Gayle Laakmann McDowell. The Google resume: how to prepare for a career and land a job at Apple, Microsoft, Google, or any top tech company.

Gillian D. Elcock. How to get an equity research analyst job: a guide to starting a career in asset management.

Heather Krasna; with a foreword from Max Stier. Jobs that matter: find a stable, fulfilling career in public service.

Lily Madeleine Whiteman. How to land a top-paying federal job: your complete guide to opportunities, internships, résumés and cover letters, networking, interviews, salaries, promotions, and more! 2nd ed.

Michael Farr and Laurence Shatkin; foreword by Kristine Dobson. 50 best jobs for your personality. 2nd ed.

Shelly Cryer. The nonprofit career guide: how to land a job that makes a difference.

INTERVIEW SKILLS

Alison Doyle’s job search guidebook.

Enrico Moretti. The new geography of jobs.

(more…)

Bloomberg

Thursday, September 13th, 2012

If you’ve seen the movie The Iron Giant, you know it’s about a boy and his enormous robot which is capable of doing just about anything and doing it loudly.  In a nutshell, that’s how I describe Bloomberg.  Where  most news services are pulling back on coverage, Bloomberg is expanding.  Name an esoteric market instrument and Bloomberg probably carries its data.  From around the world to your town’s latest bond offering, Bloomberg covers just about everything market related, which may be why this Goliath commands an estimated third of the $16B global financial data market.

Used by our finance students, Bloomberg is also popular with faculty performing research due to the system’s large data footprint and its easy-to-use Excel add-in. Initial training on the system can take no more than 20 minutes for the new user to be up and searching, or they can enroll into Bloomberg University through the system to gain more expert knowledge.  An added bonus, it provides a responsive help desk via chat.

There are drawbacks for the academic user.  Because its software is loaded on individual computers, it can’t be accessed through the web.  And though it contains an enormous data warehouse, it’s hard to say exactly what’s in there other than to dig through the search engine.  Like the Iron Giant, Bloomberg is not the nimblest resource out there, but in terms of comprehensive news and financial information, it’s hard to beat.

Database Name Change: Datamonitor 360

Monday, June 25th, 2012

plus ca change

Datamonitor 360 has changed its name to MarketLine Advantage. MarketLine Advantage and Datamonitor 360 will both remain available to users until July 31. After July 31, links to Datamonitor 360 will be removed from Duke Libraries catalog systems and web pages.

A change in database content is also pending. After August 31, 2012, Business Insights industry report content on MarketLine Advantage will no longer be available to academic customers.

For an end user, the design and functionality of the MarketLine Advantage web site is almost identical to that of Datamonitor 360.  But we encourage users to begin conducting their research now on the MarketLine Advantage site, linked from our Ford Library Databases page.

Links to MarketLine Advantage will also be available in Duke Libraries catalog system and other web pages during the 2nd week of July 2012.

Database News: The Economist in Factiva

Tuesday, June 5th, 2012

stack o books

This is advance notice that effective June 30, 2012, The Economist magazine will no longer be available in Duke Libraries subscription to the Factiva database.

However, the current full text of The Economist will continue to be available via the ABI/INFORM Complete database; and full text and full image of The Economist will continue to be available via the EIU database.

If you have any questions or concerns, email us at reference-librarians@fuqua.duke.edu.

On Your Bucket List?

Thursday, May 31st, 2012

Learning a language as a high school student, I thought I would never use it.  Who spoke Spanish in rural North Carolina in the 1970s?  Fast forward many years and you’ll find amazing little tiendas and taquerías selling everything from tortas to Tejano CDs.  Sure wish I’d paid closer attention to Senorita Black all those years ago.

So now on my bucket list?  Learn to speak Spanish.  Luckily the Duke Libraries now subscribe to a new language instruction resource called Byki Online.  With over 70 languages, from Afrikaans to Zulu, you’ll find blogs, flashcards, words-of-the-day, and many other tools to speed your conversational skills.

You can locate additional information here, and after signing up, start your new language adventure.