A review of our latest research published in the top academic marketing journals:

Reiner, Jochen/ Wamsler, Julia/ Bornemann, Torsten/ Natter, Martin (2024). "EXPRESS: How Insurance Prices Affect Consumers’ Purchase Decisions: Insurance Price as a Risk Signal". Journal of Marketing Research, doi.org/10.1177/00222437241270217

Fischer, Marc / Wies, Simone (2024), "Accessing the Untapped Brand Leverage Potential: A Strategic Framework from a Capital Market View", published online, Management Science, doi.org/10.1287/mnsc.2022.00670

Matthe, Maximillian / Ringel, Daniel / Skiera, Bernd (2023), “Mapping Market Structure Evolution”, Marketing Science, Vol. 42, Issue 3, 589–613, doi.org/10.1287/mksc.2022.1385

Laghaie, Arash and Thomas Otter (2023), "Measuring Evidence for Mediation in the Presence of Measurement Error," forthcoming, Journal of Marketing Research. doi.org/10.1177/00222437231151873

Pachali, Max, Peter Kurz and Thomas Otter (2023), "Omitted Budget Constraint Bias and Implications for Competitive Pricing," forthcoming, Journal of Marketing Research. doi.org/10.1177/00222437221145283

Stuppy, Anika / Landwehr, Jan R. / McGraw, A. Peter (forthcoming): "The Art of Slowness: Slow Motion Enhances Consumer Evaluations by Increasing Processing Fluency", Journal of Marketing Research, doi.org/10.1177/00222437231179187

Wies, Simone / Bleier, Alexander / Edeling, Alexander (2022), "Finding Goldilocks Influencers: How Follower Count Drives Social Media Engagement", Journal of Marketing, forthcoming, doi.org/10.1177/00222429221125131

Wies, Simone / Moorman, Christine / Chandy, Rajesh K. (2022), "Innovation Imprinting: Why Some Firms Beat the Post-IPO Innovation Slump", Journal of Marketing, forthcoming, doi.org/10.1177/00222429221114317

Yan, Shunyao / Miller, Klaus / Skiera, Bernd (2022), "How Does the Adoption of Ad Blockers Impact News Consumption", Journal of Marketing Research, Vol. 59 (5), 1002-1018, doi.org/10.1177/00222437221076160

De Bruyn, Arnaud and Thomas Otter (2022), "Bayesian Consumer Profiling: How to Estimate Consumer Characteristics from Aggregate Data," Journal of Marketing Research, 59(4), 755–774. doi.org/10.1177/00222437211059088

Brancatelli, Calogero, Adrian Fritzsche, Roman Inderst, and Thomas Otter (2022), "Measuring Income and Wealth Effects on Private-Label Demand with Matched Administrative Data," Marketing Science, 41, (3), 637-56. doi.org/10.1287/mksc.2021.1334

Heitmann, Mark / Landwehr, Jan R. / Schreiner, Thomas F. / van Heerde, Harald J.* (2020): "Leveraging Brand Equity for Effective Visual Product Design", Journal of Marketing Research, 57 (2), 257-277, doi.org/10.1177/0022243720904004

Kosyakova, Tetyana, Thomas Otter, Sanjog Misra, and Christian Neuerburg (2020), "Exact MCMC for Choices from Menus -- Measuring Substitution and Complementarity among Menu Items," Marketing Science, 39, (2), 427-447. doi.org/10.1287/mksc.2019.1191 

Blaseg, Daniel / Schulze, Christian / Skiera, Bernd (2020), "Consumer Protection on Kickstarter", Marketing Science, Vol. 39, Issue 1, 211-233, doi.org/10.1287/mksc.2019.1203

Wies, Simone / Hoffmann, Arvid I.O. / Aspara, Jaakko / Pennings, Joost M.E. (2019), "Can Advertising Investments Counter the Negative Impact of Shareholder Complaints on Firm Value?", Journal of Marketing, doi.org/10.1177/0022242919841584

Dotson, Jeffrey P., John Howell, Jeff D. Brazell, Thomas Otter, Peter J. Lenk, Steven MacEachern, and Greg Allenby (2018), "A Probit Model with Structured Covariance for Similarity Effects and Source of Volume Calculations," Journal of Marketing Research, 55, 35-47. doi.org/10.1509/jmr.13.0240

Van den Bulte, Christophe / Bayer, Emanuel / Skiera, Bernd / Schmitt, Philipp (2018), "How Customer Referral Programs Turn Social Capital into Economic Capital", Journal of Marketing Research, Vol. 55, Issue 1, 132-146 (also published  as MSI Report No. 15-102; Harvard Business Review also summarized the results )

Bayer, Emanuel / Tuli, Kapil / Skiera, Bernd (2017), "Do Disclosures of Customer Metrics Lower Investors’ and Analysts’ Uncertainty, But Hurt Firm Performance?", Journal of Marketing Research, 54 (2), 239-259

Schlereth, Christian / Skiera (2017), "Two New Features in Discrete Choice Experiments to Improve Willingness to Pay Estimation that Result in New Methods: Separated (Adaptive) Dual Response", Management Science, Vol. 63, Issue 3, 829-842

Hinz, Oliver / Hill, Shawndra / Kim, Ju-Young (2016): “TV's Dirty Little Secret: The Negative Effect of Popular TV on Online Auction Sales”, Management Information Systems Quarterly, Vol. 40 (3), 623-644

Ringel, Daniel / Skiera, Bernd (2016), "Visualizing Asymmetric Competition among More than 1,000 Products Using Big Search Data", Marketing Science, Vol. 35, Issue 3, 511-534

Natter, Martin / Ozimec, Ana-Marija / Kim, Ju-Young (2015): “ECO: Entega’s Profitable New Customer Acquisition on Online Price Comparison Sites", in: Marketing Science, Vol. 34 (6), 789-803

Alavi, Sascha / Bornemann, Torsten / Wieseke, Jan (2015), "Gambled Price Discounts – A Remedy to the Negative Side-Effects of Regular Price Discounts", Journal of Marketing, 79 (2), 62-78

Vomberg, Arnd / Homburg, Christian / Bornemann, Torsten (2015), "Talented People and Strong Brands: The Contribution of Human Capital and Brand Equity to Firm Value", Strategic Management Journal, 36 (13), 2122-2131

Wies, Simone / Moorman, Christine (2015), "Going Public: How Stock Market Listing Changes Firm Innovation Behavior", Journal of Marketing Research, October 2015, Vol. 52 (5), S. 694-709

Homburg, Christian / Hahn, Alexander / Bornemann, Torsten / Sandner, Philipp (2014), "The Role of CMOs for Venture Capital Funding – Endowing New Ventures with Marketing Legitimacy", Journal of Marketing Research, 51 (5), 625-644

Schulze, Christian / Schöler, Lisa / Skiera, Bernd (2014), "Not All Fun and Games: Viral Marketing for Utilitarian Products", Journal of Marketing, Vol. 78, Issue 1, 1-19 (finalist for the MSI/H. Paul Root Award of the Marketing Science Institute and the American Marketing Association)

Homburg, Christian / Stierl, Marcel / Bornemann, Torsten (2013), "Corporate Social Responsibility in Business-to-Business Markets – How Organizational Customers Account for Supplier CSR Engagement", Journal of Marketing, 77 (6), 54-72

Landwehr, Jan R./Wentzel, Daniel/Herrmann, Andreas (2013): "Product Design for the Long Run: Consumer Responses to Typical and Atypical Designs at Different Stages of Exposure", in: Journal of Marketing, 77 (5), S. 92-107.

Hildebrand, Christian/Häubl, Gerald/Herrmann, Andreas/Landwehr, Jan R. (2013): "When Social Media Can Be Bad For You: Community Feedback Stifles Consumer Creativity and Reduces Satisfaction with Self-Designed Products", in: Information Systems Research, 24 (1), S. 14-29.

Büschken, Joachim, Thomas Otter, and Greg Allenby (2013), "The Dimensionality of Customer Satisfaction Survey Reponses and Implications for Driver Analysis," Marketing Science, 32, 533–53. doi.org/10.1287/mksc.2013.0779

Skiera, Bernd / Abou Nabout, Nadia (2013): "PROSAD: A Bidding Decision Support System for PRofit Optimizing Search Engine ADvertising", Marketing Science, Vol. 32 (2), 213-220, Finalist in the 2011-12 ISMS-MSI Practice Prize Competition.

Wachtel Stephan, Otter Thomas (2013) "Successive sample selection and its relevance for management decisions", Marketing Science, Vol. 32, 170-185.

Schulze, Christian / Skiera, Bernd / Wiesel, Thorsten (2012), "Linking Customer and Financial Metrics to Shareholder Value: The Leverage Effect in Customer-Based Valuation", Journal of Marketing, Vol. 76 (March), 17-32 (finalist for the 2012 MSI/H. Paul Root Award of the Marketing Science Institute and the American Marketing Association)

Bornemann, Torsten / Homburg, Christian (2011), "Psychological Distance and the Dual Role of Price", Journal of Consumer Research, 38 (3), 490-504

Hinz, Oliver / Skiera, Bernd / Barrot, Christian / Becker, Jan (2011), "An Empirical Comparison of Seeding Strategies for Viral Marketing", Journal of Marketing, 75 (November), 55-71 (finalist for the 2011 MSI/H. Paul Root Award MSI/H. Paul Root Award of the Marketing Science Institute and the American Marketing Association).

Schmitt, Philipp / Skiera, Bernd / Van den Bulte, Christophe (2011), "Referral Programs and Customer Value", Journal of Marketing, Vol. 75, Issue 1, 46-59 (winner of the MSI/H. Paul Root Award MSI/H. Paul Root Award of the Marketing Science Institute and the American Marketing Association). 

Skiera, Bernd / Bermes, Manuel / Horn, Lutz (2011), "Customer Equity Sustainability Ratio: A New Metric for Assessing a Firm’s Future Orientation", Journal of Marketing, Vol. 75 (May), 118-131.

Otter, Thomas, Timothy J. Gilbride, and Greg Allenby (2011), "Testing Models of Strategic Behavior Characterized by Conditional Likelihoods", Marketing Science, Vol. 30, 686-701.

Landwehr, Jan R./Labroo, Aparna A./Herrmann, Andreas (2011): "Gut Liking for the Ordinary: Incorporating Design Fluency Improves Automobile Sales Forecasts", in: Marketing Science, 30 (3), S. 416-429.

Landwehr, Jan R./McGill, Ann L./Herrmann, Andreas (2011): "It's Got the Look: The Effect of Friendly and Aggressive "Facial" Expressions on Product Liking and Sales", in: Journal of Marketing, 75 (3), S. 132-146.

Homburg, Christian / Wieseke, Jan / Bornemann, Torsten (2009), "Implementing the Marketing Concept at the Employee-Customer Interface: The Role of Customer Need Knowledge", Journal of Marketing, 73 (4), 64-81

Kim, Ju-Young/ Natter, Martin / Spann, Martin (2009): “Pay-What-You-Want - A New Participative Pricing Mechanism”, in: Journal of Marketing, 73 (1), 44-58

Otter, Thomas / Greg Allenby / Trish van Zandt (2008), "An Integrated Model of Choice and Response Time", Journal of Marketing Research, Vol.45(5), 593 - 607.

Wiesel, Thorsten / Skiera, Bernd / Villanueva, Julián (2008): "Customer Equity – An Integral Part of Financial Reporting", Journal of Marketing, Vol. 72(March), 1-14. (Finalist for the Journal of Marketing's 2008 MSI/H. Paul Root Award)

Qing, Liu / Otter, Thomas / Allenby, Greg (2007): "Investigating Endogeneity Bias in Marketing", Marketing Science, Vol. 26(5), 642-650 

Lambrecht, Anja / Seim, Katja / Skiera, Bernd (2007): "Does Uncertainty Matter? Consumer Behavior under Three-Part Tariffs", Marketing Science, Vol. 26(5), p. 698-710.

Lambrecht, Anja / Skiera, Bernd (2006): "Paying Too Much and Being Happy About It: Existence, Causes and Consequences of Tariff-Choice Biases", Journal of Marketing Research, Vol. 18, No. 2, May 2006. - „Best Paper Award 2007“ des Verbands der Hochschullehrer für Betriebswirtschaft

Spann, Martin / Skiera, Bernd (2003): "Internet-Based Virtual Stock Markets for Business Forecasting", Management Science,49, 1310-1326.

Wertenbroch, Klaus / Skiera, Bernd (2002): "Measuring Consumer Willingness to Pay at the Point of Purchase", Journal of Marketing Research, 39, S. 228-241.

Skiera, Bernd / Albers, Sönke (1998): "COSTA: Contribution Optimizing Sales Territory Alignment", Marketing Science, 18, 196-2

Jürgensmeier, Lukas and Bernd Skiera (2024), “Generative AI for scalable feedback to multimodal

exercises,” International Journal of Research in Marketing forthcoming,

https://doi.org/10.1016/j.ijresmar.2024.05.005.

Proffen, Celina and Lukas Jürgensmeier (2024), “Do political conflicts influence daily consumption choices?

Evidence from US-China relations,” Journal of Economic Behavior & Organization, 220, pp. 660–674

https://doi.org/10.1016/j.jebo.2024.02.031,

Masuch, Simon, Landwehr, Jan R., Flath, Christoph, Thiesse, Frédéric (forthcoming): "The faster the better? The impact of short delivery times on product returns in online retailing", Journal of Retailing. doi.org/10.1016/j.jretai.2024.07.002

Tamaddoni, Ali / Seenivasan, Satheesh / Pallant, Jason / Skiera, Bernd (2023), “Investigating the Effect of Status Changes in Review Platforms”, International Journal of Research in Marketing, Vol. 40, Issue 1, 189-209, doi.org/10.1016/j.ijresmar.2022.07.001

Skiera, Bernd / Yan, Shunyao / Daxenberger, Johannes / Dombois, Marcus / Gurevych, Iryna (2022), “Information-Seeking Argument Mining: A Step Towards Identifying Reasons in Textual Analysis to Improve Services”, Journal of Service Research, forthcoming, doi.org/10.1177/10946705221110845

Kremer, Patrick / Feurer, Sven / Kim, Ju-Young / Hoeffler, Steve (2022): “Overcoming the negative role of nostalgia in consumer reactions to automated products”, Journal of Product Innovation Management, 39(6), 871-890

El Kihal, Siham / Nurullayev, Namig / Schulze, Christian / Skiera, Bernd (2021), “A Comparison of Product Return Rate Calculation Methods: Evidence from 16 Retailers”, Journal of Retailing, 97(4), 676-696, doi.org/10.1016/j.jretai.2021.04.001

Han, Simeng / Reinartz, Werner / Skiera, Bernd (2021), “Capturing Retailers’ Brand and Customer Focus”, Journal of Retailing, 97(4), 582-596, doi.org/10.1016/j.jretai.2021.01.001

Borah, Abhishek / Skiera, Bernd (2021), “Marketing and Investor Behavior: Insights, Introspections, and Indications”, International Journal of Research in Marketing, 38(4), 811-816, doi.org/10.1016/j.ijresmar.2021.09.011

Bayer, Emanuel / Srinivasan, Shuba / Riedl, Eddie / Skiera, Bernd (2020), “The Impact of Online Display Advertising and Paid Search Advertising Relative to Offline Advertising on Firm Performance and Firm Value”, International Journal of Research in Marketing, Vol. 37, Issue 4, 789-804 (featured in Strategist’s Digest: Online vs offline advertising | Contagious: https://www.contagious.com/news-and-views/strategists-digest-online-vs-offline-advertising), doi.org/10.1016/j.ijresmar.2020.02.002

Hinz, Oliver / Otter, Thomas / Skiera, Bernd (2020), "Measuring Network Effects in Two-Sided Markets", Journal of Management Information Systems, Vol. 37, Issue 1, 12-38, doi.org/10.1080/07421222.2019.1705509

Skiera, Bernd / Schlereth, Christian / Oetzel, Sebastian (2020), "Minimum Increments and Billing Increments in Tariffs: The Tiny, Little Numbers that Really Matters", Journal of Service Research, Vol. 23, Issue 3, 321-336, doi.org/10.1177/1094670519895581

Brünner, Tobias / Reiner, Jochen / Natter, Martin / Skiera, Bernd (2019), "Prospect Theory in Dynamic Games: Theory and Evidence from Online Pay-Per-Bid Auctions", Journal of Economic Behavior & Organization, Vol. 164, 215–234

Wiecek, Annika / Wentzel, Daniel / Landwehr, Jan R. (2019): "The Aesthetic Fidelity Effect", International Journal of Research in Marketing, 36, 542-557. doi.org/10.1016/j.ijresmar.2019.03.002

Schlereth, Christian / Skiera, Bernd / Schulz, Fabian (2018), "Why do Consumers Prefer Static instead of Dynamic Pricing Plans? An Empirical Study for a better Understanding of the Low Preferences for Time-Variant Pricing Plans", European Journal of Operational Research, Vol. 269, 1165-1179

Graf, Laura K.M. / Mayer, Stefan / Landwehr, Jan R. (2018): "Measuring Processing Fluency: One versus Five Items", Journal of Consumer Psychology, 28 (3), 393-411. doi.org/10.1002/jcpy.1021

Ahmadi, Iman / Skiera, Bernd / Lambrecht, Anja / Heubrandner, Florian (2017), "Time Preferences and the Pricing of Complementary Durables and Consumables", International Journal of Research in Marketing, Vol. 34, Issue 3, 813-828

Skiera, Bernd / Bayer, Emanuel / Schöler, Lisa (2017), "What should be the Dependent Variable in Marketing-Related Event Studies?", International Journal of Research in Marketing, Vol. 34, Issue 3, 641-659

Kostyra, D./Reiner, J./Natter, M./Klapper, D. (2016) “Decomposing the Effects of Online Customer Reviews on Brand, Price, and Product Attributes”, International Journal of Research in Marketing, Vol. 32 (1)

Eisenbeiß, Maik / Wilken, Robert / Skiera, Bernd / Cornelissen, Markus (2015), "Understanding and Investigating the Effectiveness of Deal-of-the-Day Promotions", International Journal of Research in Marketing, Vol. 32, Issue 4, 387-397

Schulz, Fabian / Schlereth, Christian / Mazar, Nina / Skiera, Bernd (2015), "Advance Payment Systems: Paying Too Much Today and Being Satisfied Tomorrow", International Journal of Research in Marketing, Vol. 32, Issue 3, 238-250 (Winner of the Best Paper Award of IJRM's Special Issue on "Marketing and Innovation") 

Vomberg, Arnd / Homburg, Christian / Bornemann, Torsten (2015), “Talented People and Strong Brands: The Contribution of Human Capital and Brand Equity to Firm Value”, Strategic Management Journal, 36 (13), 2122–2131

Bornemann, Torsten / Schöler, Lisa / Homburg, Christian (2015), “In the Eye of the Beholder? Effects of Product Appearance on Shareholder Value”, Journal of Product Innovation Management, 32 (5), 704-715

About Nabout, Nadia / Lilienthal, Markus / Skiera, Bernd (2014), "Empirical Generalizations in Search Engine Advertising", Journal of Retailing, Vol. 90, Issue 2, 206–216

Kim, Ju-Young / Brünner, Tobias / Skiera, Bernd / Natter, Martin (2014), "A Comparison of Different Pay-per-Bid Auction Formats", International Journal of Research in Marketing, Vol. 31, Issue 4, 368-379

Kim, Ju-Young/ Natter, Martin / Spann, Martin (2014): “Sampling, Discounts or Pay-What-You-Want: Two Field Experiments”, in: International Journal of Research in Marketing, Vol. 31 (3), 327-334

Schlereth, Christian / Eckert, Christine / Schaaf, René / Skiera, Bernd (2014): "Measurement of Preferences with Self-Explicated Approaches: A Classification and Merge of Trade-off- and Non-trade-off-based Evaluation Types", European Journal of Operational Research,Vol. 238, Issue 1, 185-198

Schöler, Lisa / Skiera, Bernd / Tellis, Gerard (2014), "Stock Market Returns to Financial Innovations Before and During the Financial Crisis in the United States and Europe", Journal of Product Innovation Management, Vol. 31, Issue 5, 973-986

Wilken, Robert / Dost, Florian / Eisenbeiß, Maik / Skiera, Bernd (2014), "On the Edge of Buying: A Targeting Approach for Indecisive Buyers Based on Willingness-to-Pay Ranges", Journal of Retailing, Vol. 90, Issue 3, 393–407

Homburg, Christian / Bornemann, Torsten / Kretzer, Max (2014), “Delusive Perceptions – Antecedents and Consequences of Salespeople’s Misperception of Customer Commitment”, Journal of the Academy of Marketing Science, 42 (2), 137-153

Reiner, Jochen / Natter, Martin / Skiera, Bernd (2014): "The Impact of Buy-Now Features in Pay-Per-Bid Auctions", Journal of Management Information Systems,
Vol 31 (2), 77-104

Abou Nabout, Nadia / Skiera, Bernd / Stepanchuk, Tanja / Gerstmeier, Eva (2012): "An Analysis of the Profitability of Fee-Based Compensation Plans for Search Engine Marketing", International Journal of Research in Marketing, Vol. 29, 68-80, Winner of the IJRM Best Paper Award 2012.

Gensler, Sonja / Leeflang, Peter S.H. / Skiera, Bernd (2012): "Impact of Online Channel Use on Customer Revenues and Costs to Serve: Considering Product Portfolios and Self-Selection", International Journal of Research in Marketing, Vol. 29 (2), 192-201

Gensler, Sonja / Hinz, Oliver / Skiera, Bernd / Theysohn, Sven (2012), "Willingness-to-Pay Estimation with Choice-Based Conjoint Analysis: Addressing Extreme Response Behavior with Individually Adapted Designs", European Journal of Operational Research, 219, 368-378

Schlereth, Christian / Skiera, Bernd (2012): "Measurement of Consumer Preferences for Bucket Pricing Plans with Different Service Attributes", International Journal of Research in Marketing, 29(2), 167-180.

Soukhoroukova, Arina / Spann, Martin / Skiera, Bernd (2012), "Sourcing, Filtering, and Evaluating New Product Ideas: An Empirical Exploration of the Performance of Idea Markets", Journal of Product Innovation Management, Vol. 29, Issue 1, 100-112

Spann, Martin / Häubl, Gerald / Skiera, Bernd / Bernhardt, Martin (2012), "Bid-Elicitation Interfaces and Bidding Behavior in Retail Interactive Pricing”, Journal of Retailing, 88 (1), 131-144. 

Schlereth, Christian / Skiera, Bernd / Wolk, Agnieszka (2011): "Measuring Consumer Preferences for Metered Pricing of Services", Journal of Service Research, 14(4), 443-459.

Gensler, Sonja / Leeflang, Peter S.H. / Skiera, Bernd (2011), "Influence of Online Use on Product Usage Behavior and Consequences for Customer Channel Migration Strategies", International Journal of Research in Marketing

Hennig-Thurau, Thorsten / Malthouse, Ed / Friege, Christian / Gensler, Sonja / Lobschat, Lara / Rangaswamy, Arvind / Skiera, Bernd (2010), "The Impact of New Media on Customer Relationships: From Bowling to Pinball", Journal of Service Research, Vol. 13, Issue 3, 311-330. (Award Finalist for the "Best Article" in Journal of Service Research 2010).

Hinz, Oliver / Eckert, Jochen / Bernd Skiera (2011): "Drivers of the Long Tail Phenomenon: An Empirical Analysis", Journal of Management Information Systems Vol. 27. No. 4. pp. 43-69.

Schlereth, Christian / Stepanchuk, Tanja / Skiera, Bernd (2010): "Optimization and Analysis of the Profitability of Tariff Structures with Two-Part Tariffs", European Journal of Operational Research, 206 (3), 691-701.

Pauwels, Koen / Ambler, Tim / Clark, Bruce / LaPointe, Pat / Reibstein, David / Skiera, Bernd / Wierenga, Berend / Wiesel, Thorsten (2009), "Dashboards & Marketing: Why, What, How and Which Research is Needed?", Journal of Service Research, Vol. 12, Issue 2, 175-189.

Spann, Martin / Ernst, Holger / Skiera, Bernd / Soll, Jan Henrik (2009): "Identification of Lead Users for Consumer Products via Virtual Stock Markets", Journal of Product Innovation Management 26(3), S. 322-335

Homburg, Christian / Bornemann, Torsten / Totzek, Dirk (2009), “Preannouncing Pioneering versus Follower Products: What Should the Message Be?”, Journal of the Academy of Marketing Science, 37 (3), 310-327

Otter, Thomas / Frühwirth-Schnatter, Sylvia / Tüchler, Regina (2004): "Capturing consumer heterogeneity in metric conjoint analysis using Bayesian mixture models", International Journal of Research in Marketing, 21, 285-297

Skiera, Bernd / Spann, Martin (1999): "The Ability to Compensate for Suboptimal Capacity Decisions by Optimal Pricing Decisions", European Journal of Operational Research, 118, 450-463.