@techreport{44091, abstract = {{We study the effects of product differentiation on the bundling incentives of a two-product retailer. Two monopolistic manufacturers each produce a differentiated good. One sells it to both retailers, while the other only supplies a single retailer. Retailers compete in prices. Retail bundling is profitable when the goods are close substitutes. Only then is competition so intense that the retailer uses bundling to relax competition both within and across product markets, despite an aggravation of the double marginalization problem. Our asymmetric market structure arises endogenously for the case of close substitutes. In this case, bundling reduces social welfare.}}, author = {{Endres-Fröhlich, Angelika Elfriede and Hehenkamp, Burkhard and Heinzel, Joachim}}, keywords = {{Retail bundling, upstream market power, double marginalization, product differentiation}}, pages = {{43}}, title = {{{The Impact of Product Differentiation on Retail Bundling in a Vertical Market}}}, year = {{2022}}, } @inbook{34704, abstract = {{One of the most powerful events in the still young 21st century is certainly the outbreak of the coronavirus and the following COVID-19 pandemic. Massive economic as well as social distress caused worldwide devastation. In Germany, not only stores, factories, cultural facilities were closed, but also – for the first time in history – schools were closed nationwide. Closed working sites and vocational schools, as well as working sites, which remained open due to their systemic relevance, led to so far unknown challenges in Germany’s vocational education system. A very good example are the dual apprenticeships, such as trained retail salesman, which were only partially affected by closures. The main goal of education policy was to compensate personal communication and interaction via digital media. This article’s main aim is to reveal the strategies vocational schools have developed to overcome the challenges they had to face because of the pandemic.}}, author = {{Sommer, Christian and Szczesny, Daniela}}, booktitle = {{Berufsausbildung zwischen Hygienemaßnahmen und Lockdown(s). Folgen für die schulische und außerschulische Berufsausbildung in Schule, im Betrieb und bei Bildungsträgern.}}, editor = {{Heisler, Dietmar and Meier, Jörg A.}}, keywords = {{COVID-19, Digitalization, Vocational education and training, Retail}}, pages = {{329--348}}, title = {{{Organisation der dualen Berufsausbildung zum/zur Verkäufer:in und Kaufmann:frau im Einzelhandel im Zeichen der COVID-19-Pandemie.}}}, doi = {{10.3278/9783763972579}}, year = {{2022}}, } @article{22205, abstract = {{In January 2021, the GameStop stock was the epicenter of the first case of predatory trading initiated by retail investors. We use brokerage accounts to study who participated in this GameStop frenzy and how they performed. We investigate the extent to which investors’ personal and trading characteristics differ from the general population of retail investors. GameStop traders had a history of investing in speculative instruments, including stocks with lottery-like features. They were also more likely to close their positions before the peak of the bubble. At the onset of the frenzy, numerous retail investors also shorted GameStop. Overall, our results indicate that the GameStop frenzy was not a pure digital protest against Wall Street but speculative trading by a group of retail investors, in line with their prior high-risk trading behavior.}}, author = {{Hasso, Tim and Müller, Daniel and Pelster, Matthias and Warkulat, Sonja}}, journal = {{Finance Research Letters}}, keywords = {{Predatory Trading, Retail Investors, Trading Behavior}}, title = {{{Who participated in the GameStop frenzy? Evidence from brokerage accounts}}}, doi = {{10.1016/j.frl.2021.102140}}, year = {{2021}}, } @inproceedings{25029, abstract = {{In early 2021, the finance world was taken by storm by the dramatic price surge of the GameStop Corp. stock. This rise is being, at least in part, attributed to a group of Redditors belonging to the now-famous r/wallstreetbets (WSB) subreddit group. In this work, we set out to address if user activity on the WSB subreddit is associated with the trading volume of the GME stock. Leveraging a unique dataset containing more than 4.9 million WSB posts and comments, we assert that user activity is associated with the trading volume of the GameStop stock. We further show that posts have a significantly higher predictive power than comments and are especially helpful for predicting unusually high trading volume. Lastly, as recent events have shown, we believe that these findings have implications for retail and institutional investors, trading platforms, and policymakers, as these can have disruptive potential.}}, author = {{Caron, Matthew and Gulenko, Maryna and Müller, Oliver}}, booktitle = {{42nd International Conference on Information Systems (ICIS 2021)}}, keywords = {{Retail investors, GameStop, Social Networks, Reddit, WallStreetBets}}, location = {{Austin, Texas}}, title = {{{To the Moon! Analyzing the Community of “Degenerates” Engaged in the Surge of the GME Stock}}}, year = {{2021}}, } @inproceedings{16285, abstract = {{To decide in which part of town to open stores, high street retailers consult statistical data on customers and cities, but they cannot analyze their customers’ shopping behavior and geospatial features of a city due to missing data. While previous research has proposed recommendation systems and decision aids that address this type of decision problem – including factory location and assortment planning – there currently is no design knowledge available to prescribe the design of city center area recommendation systems (CCARS). We set out to design a software prototype considering local customers’ shopping interests and geospatial data on their shopping trips for retail site selection. With real data on 500 customers and 1,100 shopping trips, we demonstrate and evaluate our IT artifact. Our results illustrate how retailers and public town center managers can use CCARS for spatial location selection, growing retailers’ profits and a city center’s attractiveness for its citizens.}}, author = {{zur Heiden, Philipp and Berendes, Carsten Ingo and Beverungen, Daniel}}, booktitle = {{Proceedings of the 15th International Conference on Wirtschaftsinformatik}}, keywords = {{Town Center Management, High Street Retail, Recommender Systems, Geospatial Recommendations, Design Science Research}}, location = {{Potsdam}}, title = {{{Designing City Center Area Recommendation Systems }}}, doi = {{doi.org/10.30844/wi_2020_e1-heiden}}, year = {{2020}}, } @techreport{10332, abstract = {{We analyze the incentives for retail bundling and the welfare effects of retail bundling in a decentralized distribution channel with two retailers and two monopolistic manufacturers. One manufacturer exclusively sells his good to one retailer, whereas the other manufacturer sells his good to both retailers. Thus, one retailer is a monopolist for one product but competes with the other retailer in the second product market. The two-product retailer has the option to bundle his goods or to sell them separately. We find that bundling aggravates the double marginalization problem for the bundling retailer. Nevertheless, when the retailers compete in prices, bundling can be more profitable than separate selling for the retailer as bundling softens the retail competition. The ultimate outcome depends on the manufacturers’ marginal costs. Given retail quantity competition, however, bundling is in no case the retailer’s best strategy. Furthermore, we show that profitable bundling reduces consumer and producer surplus in the equilibrium.}}, author = {{Heinzel, Joachim Maria Josef}}, keywords = {{retail bundling, leverage theory, double marginalization}}, publisher = {{CIE Working Paper Series}}, title = {{{Bundling in a Distribution Channel with Retail Competition}}}, year = {{2019}}, } @article{4873, abstract = {{Banks face a 'behavioralization' of their balance sheets since deposit funding increasingly consists of non-maturing deposits with uncertain cash flows exposing banks to asset liability (ALM) risk. Thus, this study examines the behavior of banks’ retail customers regarding non-maturing deposits. Our unique sample comprises the contract and cash flow data for 2.2 million individual contracts from 1991 to 2010. We find that contractual rewards, i.e., qualified interest payments, and government subsidies, effectively stabilize saving behavior and thus bank funding. The probability of an early deposit withdrawal decreases by approximately 40%, and cash flow volatility drops by about 25%. Our findings provide important insights for banks using pricing incentives to steer desired saving patterns for their non-maturing deposit portfolios. Finally, these results are informative regarding the bank liquidity regulations (Basel III) concerning the stability of deposits and the minimum requirements for risk management (European Commission DIRECTIVE 2006/48/EC). }}, author = {{Schlueter, Tobias and Sievers, Sönke and Hartmann-Wendels, Thomas}}, journal = {{Journal of Banking & Finance (VHB-JOURQUAL 4 Ranking A)}}, keywords = {{retail saving behavior, non-maturing deposits, deposit funding, contractual rewards, interest rate bonus, saving persistence, cash flow volatility}}, pages = {{43--61}}, title = {{{Bank funding stability, pricing strategies and the guidance of depositors}}}, doi = {{10.2139/ssrn.2001449}}, volume = {{51}}, year = {{2015}}, }