William F. Massy

William Massy is Professor Emeritus of Education and Business Administration at Stanford University and former President of the Jackson Hole Higher Education Group, Inc.

  • Networks for Research and Education

    Sharing of Computer and Information Resources Nationwide

    Martin Greenberger, Julius Aronofsky, James L. McKenney, and William F. Massy

    The approximately 7,000 computers in the United States that process information for research and education are not, as one might expect, concentrated or linked in integrated operations but for the most part are scattered, autonomous, and separated. Advancing technology is beginning to change this situation by permitting the importing and exporting of services, thereby providing the user with more options and calling for a different kind of computer center/user relationship. Financial strains in research and educational institutions are accelerating the changes.

    One of the conclusions of this study is that networks – most generally, connections between unlike computers running under unlike operating systems across great distances – are here to stay; networks are practical and deserve the serious attention of any institution considering how or whether to replace its main computer.

    The book grew out of and contains the papers, discussions, and analyses of three seminars conducted in late 1972 and early 1973 by EDUCOM with the support of the National Science Foundation. It identifies the central issues—which tend to be political, economic, and managerial rather than technological—involved in building and operating networks on a national basis. A number of informed specialists both within and outside the computer and communications field have arrived at conclusions and made recommendations that are essential to the important decisions being made today—and to decisions that will be made in the future00pertaining not only to network developments but also more generally to the selection and configuration of computing and communication activities with research and education on a national level.

    Networks for Research and Education is addressed to anyone with an interest in the possibilities and problems of networking, irrespective of background or occupation: potential users, suppliers, and especially decision makers and their staffs, including state legislators, government officials, and administrative officers of colleges, universities, and other institutions involved in research and education.

    • Hardcover $27.50
  • An Econometric Approach to a Marketing Decision Model

    Ronald E. Frank and William F. Massy

    This book describes the creation of a simulation model that is designed to serve as an artificial test market. The market is sufficiently realistic to permit it to be used for experimenting with a wide range of alternative marketing programs for a manufacturer of a branded, frequently purchased food product.

    The simulator includes characterizations by brand and size of: (1) the rates of retailer promotions (such as retail price discounts, newspaper advertising, displays, signs and banners, special offers, and premiums) as a function of the promotional allowances offered by competing manufacturers; (2) the response of costumers in terms of sales volume to the aforementioned retailer's promotional activities; and (3) the transformation of these volume movement figures into estimates of manufacturer profitability. The simulation model is designed to take advantage of modern time-sharing computation facilities and permit virtually instantaneous assessment of alternatives, and to encourage the combining of executive judgments on current market conditions and probable retailer responses with historical data.

    In order to develop the component of the stimulator which relates retailer promotional activities to consumer volume movement, econometric methods are used to analyze a remarkably complete set of data in such a way that the reader may follow the author's thought processes as they work through complex quantitative techniques. The econometric model that they develop is a multiple-equation model. The use of this type of model is relatively new in marketing, although econometricians have been familiar with these techniques for a number of years. The present study develops and discusses the special statistical methods required to estimate the parameters of such a model and postulates a specific model linking the demand for a given brand and size to the promotional activities of all the brand-size combinations present in the marketplace for the product in question.

    • Hardcover $35.00
    • Paperback $30.00
  • Stochastic Models of Buying Behavior

    William F. Massy, David B. Montgomery, and Donald G. Morrison

    This is the first book on stochastic models of consumer buying behavior, and indeed one of relatively few books dealing with an original contribution to research for marketing management (as opposed to textbooks) published to date. The purpose of the book is to present an integrated treatment pf the author's research on the title subject. Including the 15% or so of material discussing the work of others in the field, and one chapter on statistical methodology, the book covers almost all aspects of the field of stochastic process models of buyer behavior as it is known today. Thus the book is intensive, in that it covers both the theoretical and empirical aspects of the author's models in detail, and extensive, in that it provides a comprehensive treatment of the general subject.

    While all essential concepts of stochastic process and estimation theory are developed in the body of the work, prior knowledge of mathematics through calculus and matrix algebra is assumed. However, every effort has been made to write for the practicing management scientist as well as the academic specialist.

    The approach of the book is to develop, in order, the theory of successively more refined stochastic models of buyer behavior. We begin with the heterogeneous Bernoulli model and then extend the treatment to a class of heterogeneous Markov processes. The next two chapters deal with independent and contagious probability diffusion processes for explaining time changes in market shares. The linear learning model is considered in the next chapter. The treatment then shifts to stochastic market penetration models, of which several different varieties are explored. Empirical results from marketing applications are provided for nearly all the models. Separate chapters on parameter estimation procedures and ways in which the models may be applied to management problems are provided early in the book.

    Many of the models and empirical results presented in the book have never been published before, and others have received only limited attention. The general approach to stochastic model development and testing will serve to put rather extensive but scattered literature on stochastic marketing models on a common footing. Finally, many of the models developed in the book should find applications in other branches of social science, such as sociology or political science.

    • Hardcover $40.00
    • Paperback $10.95