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Full-Text Articles in Physical Sciences and Mathematics
Near Real-Time Retail Payment And Settlement Systems Mechanism Design, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma
Near Real-Time Retail Payment And Settlement Systems Mechanism Design, Zhiling Guo, Robert John Kauffman, Mei Lin, Dan Ma
Research Collection School Of Computing and Information Systems
Rapid expansion of e-commerce, along with rising domestic and cross-border payments, has fueled the demand among financial institutions for a cost-effective means to expedite clearing and settlement of low-value retail payments. These are called faster payments settlement systems. Traditionally, retail payments have made extensive use of interbank netting systems, in which payments are accumulated for end-of-day settlement. This approach, known as deferred net settlement (DNS), reduces the liquidity needs of the payment system, but bears inherent operational and financial risks for unsettled intraday payments. As large dollar volumes of retail payments accumulate, real-time gross settlement (RTGS) has been recognized as …
Hedonic Valuation Of Online Game Participation, Robert J. Kauffman, Kwansoo Kim, Byungjoon Yoo
Hedonic Valuation Of Online Game Participation, Robert J. Kauffman, Kwansoo Kim, Byungjoon Yoo
Research Collection School Of Computing and Information Systems
We use hedonic valuation to establish a basis for valuing the time a user participates in an online gaming community. We distinguish between utilitarian and hedonic value. Our application involves elements of both utilitarian and hedonic value, however, the latter is much more important. We use an extensive data set involving a massive multi-player online role-playing game (MMORPG) from Korea. We specify and test econometric models that reflect the appropriate empirical structure for the setting, based on information about the players and the activities they engage in. The results permit us to estimate the hedonic value in monetary terms for …
Value-At-Risk In It Services Contracts, Robert J. Kauffman, Ryan Sougstad
Value-At-Risk In It Services Contracts, Robert J. Kauffman, Ryan Sougstad
Research Collection School Of Computing and Information Systems
As information systems (IS) and technology solutions become increasingly service-driven, managers are faced with the task of choosing parameters such as service-levels, pricing, and contract duration. Information technology (IT) services vendors manage portfolios of contracts in which parameters, decided at inception, are often subject to future risks. The contract profit maximization decision may adversely affect the risk position of the firm's portfolio of services contracts. We propose a model to inform vendors on setting optimal parameters for IS contracts subject to acceptable levels of risk. The analytic model presented draws from IS economics research and the principles of value-at-risk (VaR) …