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   Pre-Hurricane Consumer Stockpiling and Post- Hurricane Product Availability: Empirical Evidence from Natural Experiments; ; Mantin, Benny  et alin Production and Operations Management (2020), 29(10), 2350-2380 The provision of essential supplies is a key service provided by retailers when demand spikes due to consumer stockpiling during environmental emergencies. Moreover, it is important for retailers to ... [more ▼] The provision of essential supplies is a key service provided by retailers when demand spikes due to consumer stockpiling during environmental emergencies. Moreover, it is important for retailers to quickly recover from these events by replenishing the stock of essential supplies to meet the continuing needs of local residents. The main purpose of this research is to study consumer precautionary stockpiling behavior prior to the onset of hurricane landfalls and determine the impact of this behavior on in-store product availability for various formats of retail store outlets. Specifically, we focus on the bottled water product category, an essential emergency category in hurricane preparedness. This study combines an event analysis methodology with econometric models using archival retail scanner data from 60 U.S. retail chains located in 963 counties and real-time data from four recent U.S. continental hurricanes. We find that supply-side characteristics (retail network and product variety), demand-side characteristics (hurricane experience and household income), and disaster characteristics (hazard proximity and hazard intensity) significantly affect consumer stockpiling propensity as the hurricanes approach. The increased consumer stockpiling has immediate and longer-term impacts on retail operations, namely, in-store product availability. Among various retail formats, drug stores are associated with the highest consumer stockpiling propensity before hurricanes, while dollar stores and discount stores are associated with the lowest in-store product availability following hurricanes. Our study points to the need for retailers and policymakers to carefully monitor factors affecting consumer stockpiling behavior that will allow for better allocation of critical supplies during the hurricane season. [less ▲] Detailed reference viewed: 257 (13 UL) Inventory Decisions in the Presence of Strategic Customers: Theory and Behavioral Evidence; Mantin, Benny ; in Production and Operations Management (2019), 28(2), 374-392 We consider the inventory decision of a retailer facing strategic customers. We develop a behavioral theory that accounts for reference dependence, which makes predictions on how the presence of strategic ... [more ▼] We consider the inventory decision of a retailer facing strategic customers. We develop a behavioral theory that accounts for reference dependence, which makes predictions on how the presence of strategic customers leverages retailer behavior. Specifically, the reference-dependent retailer shall decrease her order quantity when there are more strategic customers in the population. As such, the conventional pull-to-center bias for newsvendor is generalized, since the presence of strategic consumers may induce the retailer to pull her order further below the center even when the production cost is low. Furthermore, increasing proportion of strategic customers reduces the retailer's ordering bias under low cost, yet amplifies it when the cost is high. Our subsequent experiments find pull-below-center effect, validate the theoretical predictions, and establish the asymmetry of reference dependence with the estimated behavioral parameters. We also study extensions to our model and carry out robustness checks of our experimental results. [less ▲] Detailed reference viewed: 373 (50 UL) P2P Marketplaces and Retailing in the Presence of Consumers' Valuation Uncertainty; ; Mantin, Benny in Production and Operations Management (2017), 26(3), 509--524 Detailed reference viewed: 216 (8 UL)Dynamic Pricing in the Presence of Myopic and Strategic Consumers: Theory and Experiment; Mantin, Benny ; in Production and Operations Management (2017), 26(1), 116--133 Detailed reference viewed: 168 (10 UL)The Strategic Role of Third-Party Marketplaces in RetailingMantin, Benny ; ; in Production and Operations Management (2014), 23(11), 1937--1949 Detailed reference viewed: 157 (3 UL)The effect of competition on R&D portfolio investments; Mantin, Benny ; in Production and Operations Management (2014), 23(8), 1439--1449 Detailed reference viewed: 120 (1 UL) |
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