ESADE Business School

When output prices are unobserved, standard production-based markup estimators are biased and inconsistent because they are unable to distinguish whether firms have higher revenues due to higher prices or higher quantities. Building on work designed for competitive environments, we propose a novel method that solves this problem using only revenue data. We flexibly model markups as a specified function of observables and fixed effects, supporting a broad class of variable-markup frameworks. We explicitly adopt a Markovian revenue productivity process, a commonly implicit assumption in the literature. Our suggested two-step approach is simple in concept and implementation, requiring only common regression techniques.

The rapid adoption of generative artificial intelligence (GenAI) across industries has created new opportunities for efficiency, creativity, and innovation. At the same time, it has introduced confusion about what GenAI is capable of, how it should be used, and where it fits within existing business structures. While GenAI is often treated as a singular capability, we argue that it is better understood as a collection of distinct intelligences that vary in maturity and application. Drawing on Gardner's Multiple Intelligences Theory, this article introduces a taxonomy of GenAI intelligences and explores their relationship to current and emerging cases. Leveraging this taxonomy, we provide practical guidance to help businesses identify where GenAI can add value and where it remains limited. We propose that companies adopt an intelligence management approach that treats GenAI not as a generic tool but as a dynamic and evolving collaborator. By understanding the specific capabilities of different AI intelligences, business leaders can align GenAI adoption with strategic goals, clear communication, and competitive advantage. (c) 2025 Kelley School of Business, Indiana University. Published by Elsevier Inc. This is an open access article under the CC BY-NC-ND license (http://creativecommons. org/licenses/by-nc-nd/4.0/).

The process of creating a simulation model, in particular using the System Dynamics methodology, is a complex and time-intensive task. It begins with a clear understanding of the problem, followed by the identification of key variables, and culminates in the construction of a Stock and Flow Diagram (SFD). Traditionally, this process has been laborious, requiring significant manual effort to translate a conceptual understanding into a functional model. With the advent of advanced AI tools like ChatGPT, this process can be significantly streamlined. This paper presents a personalized ChatGPT prompt, DAVID© (Draw A Vensim Initial Draft) that can automate the creation of a complete Vensim model, from problem description to a fully functional simulation.

This paper explains how a philosophy program impacted the development of managers. In 2022, a European institute – dedicated to facilitating philosophical dialogue experiences – launched a new program for young executives. It aimed to develop more competent and responsible managers through philosophical practice based on Socratic and Levinassian principles. Executives were invited to engage in dialogues with people at risk of social exclusion to philosophize on matters such as identity, fear, happiness, love, responsibility, democracy and civic engagement. Though conventional management topics were omitted in this 12-week program, a study based on 25 interviews indicated that managers had an increased willingness to engage in social issues and became more concerned about the world and communities they live in. They also claimed to develop key managerial competencies including self-awareness, independent thinking, relationship-building, communication, questioning and a sense of responsibility. These competencies connect to literature on ethics, emotional intelligence and wisdom. They also indicate – with the help of empirical evidence – how managers can benefit from philosophical practice. Thus, this paper contribute to building a case in favour of philosophy programs for managers by showing the outcomes of one particular case.