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Optimizing Foreclosed Housing Acquisitions in Societal Response to Foreclosures

Authors: Senay Solak, Armagan Bayram, Mehmet Gumus, Yueran Zhuo

Publication: Operations Research, Forthcoming

Abstract:

A dramatic increase in U.S. mortgage foreclosures during and after the great economic recession of 2007-2009 had devastating impacts on the society and the economy. In response to such negative impacts, non-profit community development corporations (CDCs) throughout the U.S. utilize various resources, such as grants and lines of credit, in acquiring and redeveloping foreclosed housing units to support neighborhood stabilization and revitalization. Given that the cost of all such acquisitions far exceeds the resources accessible by these non-profit organizations, we identify socially optimal policies for CDCs in dynamically selecting foreclosed properties to target for potential acquisition as they become available over time. We evaluate our analytical results in a numerical study involving a CDC serving a major city in the U.S, and specify social return based thresholds defining selection decisions at different funding levels. We also find that for most foreclosed properties CDCs should not offer more than the asking price, and should typically consider overbidding only when the total available budget is low. Overall, comparisons of optimal policies with historical acquisition data suggest a potential improvement of around 20% in expected total impacts of the acquisitions on nearby property values. Considering a CDC with annual fund availability of $4 million for investment, this corresponds to an estimated additional value of around $280,000 for the society.

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Published: 15 Oct 2018

Synergistic, Antagonistic, and Asymmetric Media Interactions

Authors: Ceren Kolsarici, and Demetrios Vakratsas

Publication: Journal of Advertising, Vol. 47, No. 3, 2018

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Published: 28 Sep 2018

A top paper nomination for Professor Hewlin

Professor Patricia Hewlin’s co-authored article entitled, “How do callings relate to job performance? The role of organizational commitment and ideological contract fulfillment,” was nominated by the editors of Human Relations as one of the top papers published in 2018.

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Published: 28 Sep 2018

Protecting positioning innovations: the emergence of non-traditional trademark registrations

Authors: S. Mishra, Demetrios Vakratsas, and A. V. Krasnikov

Publication: Marketing Letters, Vol. 29, No. 3, September 2018

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Published: 27 Sep 2018

Angelos Georghiou appointed Associate Editor of Energy Systems

Angelos Georghiou, Assistant Professor in Operations Management, was recently appointed Associate Editor of Energy Systems - Optimization, Modeling, Simulation, and Economic Aspects.

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Published: 27 Sep 2018

Winning at a Losing Game? Side-Effects of Perceived Tournament Promotion Incentives in Audit Firms

Authors: Jorien Pruijssers, Pursey Pmar Heugens and Hans J. Van Oosterhout

Publication: Journal of Business Ethics, Forthcoming

Abstract:

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Published: 12 Sep 2018

A Smart-City Scope of Operations Management

Authors: Wei Qi and Zuo-Jun Max Shen

Publication: Production and Operations Management, Forthcoming

Abstract:

We are entering an era of great expectations towards our cities. The vision of “smart city” has been pursued worldwide to transform urban habitats into superior efficiency, quality and sustainability. This phenomenon prompts us to ponder what role the scholars in operations management (OM) can assume. In this essay, we express our initial thoughts on expanding OM to the smart-city scope. We review smart-city initiatives of governments, industry, national laboratories and academia. We argue that the smart-city movement will transition from the tech-oriented stage to the decision-oriented stage. Hence, a smart city can be perceived as a system scope within which planning and operational decisions are orchestrated at the urban scale, reflective of multidimensional needs, and adaptive to massive data and innovation. The benefits of studying smart-city OM are manifold and significant: contributing to deeper understanding of smart cities by providing advanced analytical frameworks, pushing OM knowledge boundaries (such as data-driven decision making), and empowering the OM community to deliver much broader impacts than before. We discuss several research opportunities to embody these thoughts, in the interconnected contexts of smart buildings, smart grid, smart mobility and new retail. These opportunities arise from the increasing integration of systems and business models at the urban scale.

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Published: 10 Sep 2018

Alain Pinsonneault Awarded 2018 SSHRC Insight Grant

Congratulations to Alain Pinsonneault, Professor in Information Systems, awarded the 2018 SSHRC Insight Grant “The impact of explorative and exploitive use of information technology on individual performance”.

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Published: 5 Sep 2018

Jui Ramaprasad and Alain Pinsonneault awarded 2018 SSHRC Insight Grant

Congratulations to Jui Ramaprasad, Associate Professor of Information Systems, and Alain Pinsonneault, Professor of Information Systems, awarded the 2018 SSHRC Insight Grant “Examining Value Creation in the Digital Economy: A Platform Engagement Perspective”.

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Published: 5 Sep 2018

Low Status Rejection: How Status Hierarchies Influence Negative Tie Formation

Authors: Brian Rubineau, Yisook Lim and Michael Neblo

Publication: Social Networks, Vol. 56, January 2019

Abstract:

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Published: 5 Sep 2018

Managing Rapid Change and Rapid-Growth in Emerging Industries

Authors: Hamid Etemad and Christian Keen

Publication: International Journal of Entrepreneurship and Small Business, Vol. 34, No. 4, 2018

Abstract:

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Published: 5 Sep 2018

Designing Risk‐Adjusted Therapy for Patients with Hypertension

Authors: Manaf Zargoush, Mehmet Gumus, Vedat Verter, Stella S. Daskalopoulou

Publication: Production and Operations Management, Forthcoming

Abstract:

Limited guidance is available for providing patient‐specific care to hypertensive patients, although this chronic condition is the leading risk factor for cardiovascular diseases. To address this issue, we develop an analytical model that takes into account the most relevant risk factors including age, sex, blood pressure, diabetes status, smoking habits, and blood cholesterol. Using the Markov Decision Process framework, we develop a model to maximize expected quality‐adjusted life years, as well as characterize the optimal sequence and combination of antihypertensive medications. Assuming the physician uses the standard medication dose for each drug, and the patient fully adheres to the prescribed treatment regimen, we prove that optimal treatment policies exhibit a threshold structure. Our findings indicate that our recommended thresholds vary by age and other patient characteristics, for example (1) the optimal thresholds for all medication prescription are nonincreasing in age, and (2) the medications need to be prescribed at lower thresholds for males who smoke than for males who have diabetes. The improvements in quality‐adjusted life years associated with our model compare favorably with those obtained by following the British Hypertension Society's guideline, and the gains increase with the severity of risk factors. For instance, in both genders (although at different rates), diabetic patients gain more than non‐diabetic patients. Our sensitivity analysis results indicate that the optimal thresholds decrease if the medications have lower side‐effects and vice versa.

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Published: 8 Aug 2018

Quality at the Source or at the End? Managing Supplier Quality Under Information Asymmetry

Authors: Mohammad E. Nikoofal, Mehmet Gumus

Publication: Manufacturing & Service Operations Management, Vol. 20, No. 3, Summer 2018

Abstract:

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Published: 7 Aug 2018

Nathan Yang selected participant in joint Quebec and China seminar

Nathan Yang, Assistant Professor in Marketing, selected participant in joint Quebec and China seminar Big Data and Management.

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Published: 23 Jul 2018

Matissa Hollister awarded 2018 SSHRC Insight Grant

Congratulations to Matissa Hollister, Assistant Professor in Organizational Behaviour, awarded the 2018 SSHRC Insight Grant “Should I Stay or Should I Go – the Consequences of Job Mobility on Future Hiring Prospects”.

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Published: 23 Jul 2018

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