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作者：Carvalho, Jean-Paul; Pradelski, Bary S. R.; Williams, Cole
作者单位：University of Oxford; Durham University
摘要：Studying the design of affirmative action policies when identities are multidimensional, we provide a formal demonstration of the importance of intersectionality. Prevailing affirmative action policies are based only on one identity dimension (e.g., race, gender, socioeconomic class). We find that any such nonintersectional policy can almost never achieve a representative outcome. In fact, nonintersectional policies often increase the underrepresentation of underrepresented groups in a manner ...
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作者：Kusterer, David J.; Sliwka, Dirk
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Cologne
摘要：We study biases and the informativeness of subjective performance evaluations in an online experiment, testing the implications of a standard formal framework of rational subjective evaluations. In the experiment, subjects in the role of workers perform a real effort task. Subjects in the role of supervisors observe samples of the workers' output and assess their performance. We conduct six experimental treatments varying (i) whether workers' pay depends on the performance evaluation, (ii) whe...
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作者：Yuan, Peixuan
作者单位：Hong Kong Baptist University
摘要：Analyzing the specifications of pricing models for the joint valuation of S&P 500 and VIX options, I find that the existing models cannot adequately represent the two options markets. I introduce a new factor that controls the higher-order moments of the risk-neutral return distribution. The model I propose significantly outperforms all other alternatives, and particularly improves on the benchmark two-variance-factor model with cojumps by 23.66% in-sample and 31.64% out-of-sample. The perform...
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作者：Segev, Danny
作者单位：Tel Aviv University; Tel Aviv University
摘要：The main contribution of this paper resides in developing a new algorithmic approach for addressing the continuous-time joint replenishment problem, termed Psi-pairwise alignment. The latter mechanism, through which we synchronize multiple economic order quantity models, allows us to devise a purely combinatorial algorithm for efficiently approximating optimal policies within any degree of accuracy. As a result, our work constitutes the first quantitative improvement over power-of-2 policies, ...
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作者：Hardt, David; Mayer, Lea; Rincke, Johannes
作者单位：University of Erlangen Nuremberg
摘要：We analyze how the gender composition of teams affects team interactions. In an online experiment, we randomly assign individuals to gender-homogenous or gender-mixed teams of four. Teams meet in an audio chat room and jointly work on a team task that is gender-neutral in terms of individual productivity. By design, effects on team performance can only work through communication. We find that all-male teams communicate more than all-female teams and outperform teams of both alternative gender ...
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作者：Gay, Jonathan; Jackson, Scott B.; Seybert, Nicholas
作者单位：University of Mississippi; University of South Carolina System; University of South Carolina Columbia; University System of Maryland; University of Maryland College Park
摘要：Prior research indicates that narcissistic executives engage in earnings management and other negative organizational behaviors, and many studies ponder why firms hire such individuals, especially into corporate accounting positions. Utilizing a selection of terms from real-world job postings that we characterize as describing either a RuleBender or Rule-Follower candidate, we first conduct several validation studies which reveal that these terms vary predictably across types of job postings, ...
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作者：Capponi, Agostino; Glasserman, Paul; Weber, Marko Hans
作者单位：Columbia University; Columbia University; National University of Singapore
摘要：We develop a framework to quantify the vulnerability of mutual funds to fire-sale spillover losses. We account for the first-mover incentive that results from the mismatch between the liquidity offered to redeeming investors and the liquidity of assets held by the funds. In our framework, the negative feedback loop between investors' redemptions and price impact from asset sales leads to an aggregate change in funds' net asset value, which is determined as a fixed point of a nonlinear mapping....
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作者：Dew, Ryan
作者单位：University of Pennsylvania
摘要：Many products are most meaningfully described using unstructured data such as text or images. Unstructured data are also common in e-commerce, in which products are often described by photos and text but not with standardized sets of attributes. Whereas much is known about how to efficiently measure consumer preferences when products can be meaningfully described by structured attributes, there is scant research on doing the same for unstructured data. This paper introduces a real-time, adapti...
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作者：Singh, Manasvini; Zureich, Jacob
作者单位：Carnegie Mellon University; Lehigh University
摘要：We use clinical data on more than 240,000 surgeries and quasi-experimental methods to examine how physicians respond to the surprise release of a performance report card. Such feedback interventions are commonly used to encourage physicians to improve performance yet show limited evidence of success. Our results show that these limited effects mask heterogeneous behavioral responses to feedback valence. In particular, physicians improve more from positive feedback than from negative feedback, ...
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作者：Borgonovo, Emanuele; Figalli, Alessio; Plischke, Elmar; Savare, Giuseppe
作者单位：Bocconi University; Bocconi University; Swiss Federal Institutes of Technology Domain; ETH Zurich; TU Clausthal
摘要：We examine the construction of variable importance measures for multivariate responses using the theory of optimal transport. We start with the classical optimal transport formulation. We show that the resulting sensitivity indices are well-defined under input dependence, are equal to zero under statistical independence, and are maximal under fully functional dependence. Also, they satisfy a continuity property for information refinements. We show that the new indices encompass Wagner's varian...
