Maria Ibanez is a doctoral candidate and teaching fellow in the Technology and Operations Management unit at the Harvard Business School. She earned a Master of Science in Applied Economics from Marquette University. Prior to joining HBS, Maria conducted research at the University of Chicago with Professor Steven Levitt. Maria's research focuses on the interactions of management, organizational design, and productivity.
In her spare time, Maria enjoys volunteering, and has participated in medical brigades in Latin America as well as acted as a consultant for small businesses in need of technical expertise.
Commercial Property Rent Dynamics in U.S. Metropolitan Areas: An Examination of Office, Industrial, Flex and Retail Space
This paper is concerned with the market rental rate for space offered by commercial property and how that rental rate evolves over time. Rental rates reflect the value of the services provided by the property and can have a significant impact on the ability of its owners to make monthly debt obligations. We investigate commercial property rent dynamics for 34 large metropolitan areas in the U.S. The dynamics are studied from the second quarter of 1990 through the second quarter of 2009 and the results are compared across four property types or uses (office, industrial, flex, and retail). There is substantial heterogeneity in both the long and short run responses to changing demand and supply conditions. In general, the office market is the slowest to adjust back towards equilibrium while industrial and flex markets adjust back to the long run equilibrium very quickly. For industrial and office types, the speed of adjustment is substantially faster within quality segments and is strongest for grade A properties.
Keywords: Commercial Real Estate;
Real Estate Industry;
Discretionary Task Ordering: Queue Management in Radiological Services
A long line of research examines how best to schedule work to improve operational performance. This literature traditionally takes the perspective of a central planner who can structure work and then expect individuals to execute tasks in a prescribed order. In many settings, however, workers have discretion to deviate from the assigned order. This paper considers the operational implications of "discretionary task ordering," defined as the task sequence resulting from an individual's ability to select which task to complete next from a work queue. Using data from 91 physicians reading a total of more than 2.4 million radiological studies over a period of two and a half years, we examine the conditions under which discretion is exercised and the performance effects of those choices. We find that, on average, deviations lead to slower read times. Doctors tend to deviate more with experience and when they have more variety within their queue. Interestingly, deviations tend to be more effective under those conditions, yet the improvement is not enough to offset the average deviation penalty. To develop our results further, we explore two common ordering heuristics: shortest expected processing time and batching similar cases. We find that choosing the shortest cases first is particularly detrimental for speed. Finally, batching is associated with better performance when it occurs naturally, but not when it results from using discretion. Our research identifies a "discretion fallacy," offering a behavioral perspective on queue management and highlighting that managers must be careful when allowing discretion within worker queues.
Cost vs Benefits;
Maria's research includes service operations, decision-making, and process improvement, with a particular focus on productivity.