Audit report on the City of Magnolia, Iowa for the year ended June 30, 2006

Audit report on the City of Magnolia, Iowa for the year ended June 30, 2006

Audit report on the City of Van Wert, Iowa for the year ended June 30, 2006

Audit report on the City of Van Wert, Iowa for the year ended June 30, 2006

Audit report on a special investigation of the City of Gravity for the period January 1, 2003 through February 15, 2007

Audit report on a special investigation of the City of Gravity for the period January 1, 2003 through February 15, 2007

When to carry eccentric products? Optimal retail assortment under consumer returns

To understand whether retailers should consider consumer returns when merchandising, we study howthe optimal assortment of a price-taking retailer is influenced by its return policy. The retailer selects itsassortment from an exogenous set of horizontally differentiated products. Consumers make purchase andkeep/return decisions in nested multinomial logit fashion. Our main finding is that the optimal assortmenthas a counterintuitive structure for relatively strict return policies: It is optimal to offer a mix of the mostpopular and most eccentric products when the refund amount is sufficiently low, which can be viewed asa form of risk sharing between the retailer and consumers. In contrast, if the refund is sufficiently high, orwhen returns are disallowed, optimal assortment is composed of only the most popular products (a commonfinding in the literature). We provide preliminary empirical evidence for one of the key drivers of our results:more eccentric products have higher probability of return conditional on purchase. In light of our analyticalfindings and managerial insights, we conclude that retailers should take their return policies into accountwhen merchandising.

Audit report on the City of Postville, Iowa for the year ended June 30, 2006

Audit report on the City of Postville, Iowa for the year ended June 30, 2006

Audit report on the City of State Center, Iowa for the year ended June 30, 2007

Audit report on the City of State Center, Iowa for the year ended June 30, 2007

Audit report on the City of Shenandoah, Iowa for the year ended June 30, 2007

Audit report on the City of Shenandoah, Iowa for the year ended June 30, 2007

Audit report on the City of Ely, Iowa for the year ended June 30, 2007

Audit report on the City of Ely, Iowa for the year ended June 30, 2007

Report on a special investigation of the City of Clearfield for the period August 1, 2006 through June 30, 2007

Report on a special investigation of the City of Clearfield for the period August 1, 2006 through June 30, 2007

Audit report on the City of Hiawatha, Iowa for the year ended June 30, 2007

Audit report on the City of Hiawatha, Iowa for the year ended June 30, 2007

Audit report on the City of Carlisle, Iowa for the year ended June 30, 2007

Audit report on the City of Carlisle, Iowa for the year ended June 30, 2007

Audit report on the City of Dike, Iowa for the year ended June 30, 2006

Audit report on the City of Dike, Iowa for the year ended June 30, 2006

Audit report on the City of West Branch, Iowa for the year ended June 30, 2007

Audit report on the City of West Branch, Iowa for the year ended June 30, 2007

Reaudit report on the City of Keosauqua for the period July 1, 2003 through June 30, 2004

Reaudit report on the City of Keosauqua for the period July 1, 2003 through June 30, 2004