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作者：Cappelen, Alexander W.; Meissner, Stefan; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH)
摘要：Consumers can sometimes be exploited because they make mistakes in their valuation of products. We present the results from a large-scale experimental study that examines whether third-party spectators from the general population in the United States cancel a voluntary deal where a buyer has made a mistake in the valuation of a product and agreed to pay more for the product than the seller knows it is worth. We find that the majority of the spectators cancel such deals, even when the seller's ...
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作者：Feng, Yiding; Niazadeh, Rad
作者单位：University of Chicago
摘要：In several applications of real-time matching of demand to supply in online marketplaces, the platform allows for some latency to batch the demand and improve the efficiency of the resulting matching. Motivated by these applications, we study the optimal trade-off between batching and inefficiency in the context of designing robust online allocations. As our base model, we consider K-stage variants of the classic vertexweighted bipartite b-matching in the adversarial setting, where online vert...
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作者：Lee, Yoojin; Ng, Shaphan; Shevlin, Terry; Venkat, Aruhn
作者单位：California State University System; California State University Long Beach; Singapore Management University; University of California System; University of California Irvine; University of Washington; University of Washington Seattle; University of Texas System; University of Texas Austin
摘要：In this study, we provide evidence on the effects of state tax whistleblower laws. We exploit a novel 2010 amendment to New York's False Claims Acts (FCA) that explicitly extended whistleblower incentives to corporate income tax whistleblowers. We identify treated firms (firms exposed to New York's FCA) using establishment-level data and descriptive analyses. Using a sample of firms exposed to New York and neighboring states, we find evidence that New York's FCA reduced state tax avoidance. In...
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作者：Hillert, Alexander; Niessen-Ruenzi, Alexandra; Ruenzi, Stefan
作者单位：Goethe University Frankfurt; University of Mannheim
摘要：Fund companies regularly send shareholder letters to their investors. We use textual analysis to investigate whether these letters' writing style influences fund flows and whether it predicts performance and investment styles. Fund investors react to the tone and content of shareholder letters: a less negative tone leads to higher net flows. Thus, fund companies can use shareholder letters as a tactical instrument to influence flows. However, at the same time, a dishonest communication that is...
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作者：Wang, Mengxin; Zhang, Heng; Rusmevichientong, Paat; Shen, Max
作者单位：University of Texas System; University of Texas Dallas; Arizona State University; Arizona State University-Tempe; University of Southern California; University of Hong Kong; University of Hong Kong
摘要：Revenue management decisions often involve both offline and online decisions. Offline decisions are made first and establish the broad and long-term operational context in which online decisions are frequently and repeatedly made, often in real time. We consider a joint optimization of offline and online decisions. Specifically, we examine a setting in which the offline decision concerns the selection of product-design characteristics (e.g., price, capacity, return eligibility, and other chara...
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作者：Arora, Srishti; Choudhary, Vivek; Kireyev, Pavel
作者单位：INSEAD Business School; Nanyang Technological University; INSEAD Business School
摘要：In the last two decades, last-mile delivery (LMD) firms have seen immense growth fueled by the success of e-commerce, leading to faster and cheaper deliveries. Operating on thin margins, LMD firms strive for successful first-time deliveries to avoid the financial and reputational costs of reattempts. Delivery agents (DAs) are integral to LMD efficiency, influencing customer experience, delivery success, and productivity. However, most LMD performance enhancement research focuses on process, te...
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作者：Anton, Miguel; Ederer, Florian; Gine, Mireia; Schmalz, Martin
作者单位：University of Navarra; IESE Business School; Boston University; Centre for Economic Policy Research - UK; European Corporate Governance Institute; University of Oxford; Leibniz Association; Ifo Institut
摘要：Firms have inefficiently low incentives to innovate when other firms benefit from their inventions and the innovating firm therefore does not capture the full surplus of its innovations. We show that, in theory, common ownership of firms mitigates this impediment to corporate innovation. By contrast, without technological spillovers, innovation has the effect of stealing market share from rivals and in that case more common ownership reduces innovation. Empirically, the association between com...
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作者：Kim, Jeong-Bon; Wang, Chong; Wu, Feng (Harry)
作者单位：Simon Fraser University; Hong Kong Polytechnic University; Lingnan University
摘要：With the London Interbank Offered Rate (LIBOR) being replaced by risk-free rate (RFR)-based alternative reference rates, the fundamental differences between the two bench-marking frameworks impose significant risks on banks. Exploiting the Financial Conduct Authority (FCA)'s announcement of the phase-out of LIBOR, we conduct a difference-indifferences analysis based on banks' reliance on LIBOR and show that LIBOR discontinuation entails higher interest rate spread of bank loans. The result imp...
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作者：Castillo, Juan Camilo; Knoepfle, Dan; Weyl, E. Glen
作者单位：University of Pennsylvania; Uber Technologies, Inc.; Microsoft
摘要：We show that ride-hailing markets are prone to a matching failure (wild goose chases) in which high demand sets off a harmful feedback cycle of few idle drivers, high pickup times, and low earnings, drastically reducing welfare. After characterizing these failures theoretically and showing empirical evidence of their relevance, we analyze how platforms can avoid them. Raising prices brings demand back under control. Platforms can thus set a uniform high price, or they can use high surge pricin...
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作者：Li, Meng; Zhang, Shichen
作者单位：University of Houston System; University of Houston; Nankai University
摘要：Procuring essential products during disasters can save lives and livelihoods; nevertheless, limited research has explored this critical issue. In this paper, we collaborate with a buying company to run a unique B2B field experiment during the early COVID-19 outbreak that prompts an urgent need for personal protective equipment. We find that suppliers would deliver products faster by quoting a significantly shorter lead time when the buying company purchases products for donation rather than fo...
