HEC Paris

About: HEC Paris is a education organization based out in Jouy-en-Josas, France. It is known for research contribution in the topics: Investment (macroeconomics) & Market liquidity. The organization has 584 authors who have published 2756 publications receiving 104467 citations. The organization is also known as: Ecole des Hautes Etudes Commerciales & HEC School of Management Paris.

Trusting Robots in Teams: Examining the Impacts of Trusting Robots on Team Performance and Satisfaction

Abstract: Despite the widespread use of robots in teams, there is still much to learn about what facilitates better performance in these teams working with robots. Although trust has been shown to be a strong predictor of performance in all-human teams, we do not fully know if trust plays the same critical role in teams working with robots. This study examines how to facilitate trust and its importance on the performance of teams working with robots. A 2 (robot identification vs. no robot identification) × 2 (team identification vs. no team identification) between-subjects experiment with 54 teams working with robots was conducted. Results indicate that robot identification increased trust in robots and team identification increased trust in one’s teammates. Trust in robots increased team performance while trust in teammates increased satisfaction.

Value chain and production cost optimization by integrating additive manufacturing in injection molding process chain

Abstract: Additive manufacturing (AM) can create considerable value when integrated into conventional manufacturing process chains. Tooling for new molded product development as pilot case of integration of AM in the injection molding process chain is investigated. The study shows that injection molding based on AM for fabrication of polymer tool inserts is economically advantageous allowing 80–90% production costs reduction as compared with a conventional tooling process chain based on machining. Fabrication of soft tools with AM results in a production lead time reduction in the range of 60–70% compared to the time required to machine mold inserts in brass or aluminum.

Multifrequency Jump-Diffusions: An Equilibrium Approach

Abstract: This paper proposes that equilibrium valuation is a powerful method to generate endogenous jumps in asset prices We specify an economy with continuous consumption and dividend paths, in which endogenous price jumps originate from the market impact of regime-switches in the drifts and volatilities of fundamentals We parsimoniously incorporate regimes of heterogeneous durations and verify that the persistence of a shock endogenously increases the magnitude of the induced price jump As the number of frequencies driving fundamentals goes to infinity, the price process converges to a novel stochastic process, which we call a multifractal jump-diffusion

Aligning Ambition and Incentives

Abstract: Labor turnover creates longer term career concerns incentives that motivate employees in addition to the short term monetary incentives provided by the current employer. We analyze how these incentives interact and derive implications for the design of incentive contracts and organizational choice. The main insights stem from a trade-off between 'good monetary incentives' and 'good reputational incentives'. We show that the principal optimally designs contracts to create ambiguity about agents' abilities. This may make it optimal to contract on relative performance measures, even though the extant rationales for such schemes are absent. Linking the structure of contracts to organizational design, we show that it can be optimal for the principal to adopt an opaque organization where performance is not verifiable, despite the constraints that this imposes on contracts.